FL Assignment of Mortgage Endorsement Guideline 1
Explanation:Consistent with the definition of "insured" contained in the Mortgagee Policy, this endorsement insures that the insured mortgage has been duly assigned to the party named in the endorsement. Among other limitations to coverage, the endorsement does not extend the effective date of the policy.
Underwriting Requirements:The assignment of mortgage must be property executed by the holder of the promissory note and the mortgagee. If there have been prior assignments of the mortgage, it is necessary to establish an uninterrupted chain of title for the mortgage being assigned. Also, the original promissory note should be transferred to the assignee.
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):None