CO Renegotiable Rate Mortgage Endorsement Guideline 110.6
Explanation:This lender endorsement insures validity, enforceability and priority of insured deed of trust or mortgage not affected by the fact the loan has a renegotiable interest rate.
This endorsement may be issued after the following requirements are met:
(1) Loan documentation must be reviewed to establish that the loan is in fact a Renegotiable Rate Mortgage and that adjustments of the interest rate are tied to an identifiable index.
(2) Approval for issuance of this endorsement must be obtained from appropriate Stewart Title Guaranty underwriting personnel.
The underwriting guidelines contained herein have been provided for general reference. The facts, circumstances, and location of the subject property should be considered when determining the issuance of the requested form or endorsement. Please note that all of the forms and endorsements included in this system may not be available in all states. Accordingly, please contact the appropriate Stewart Title Guaranty Company underwriting personnel in order to determine availability.
Compliance with the underwriting guidelines contained herein in no way obligates Stewart Title Guaranty Company to issue any form or endorsement.
This guideline applies to the following form(s):