CLTA Assignment Endorsement Guideline 104.10
Explanation:Provides the assignee of a mortgage or deed of trust insured under a CLTA Standard Coverage Policy or an ALTA Loan Policy with assurances concerning (a) the validity of the assignment to evidence the transfer of the entire beneficial interest of the named assignee; and (b) that no full or partial reconveyance, and no modification or subordination of the insured mortgage or deed of trust appears of record. However, this endorsement specifically excludes loss as a result of possession of the original note or lack of a proper endorsement to the assignee.
DO NOT ISSUE THIS ENDORSEMENT(S) IF THERE ARE MULTIPLE BENEFICIARIES UNLESS YOU SECURE THE APPROVAL OF A STEWART SENIOR UNDERWRITER.
(1) This endorsement is to be used in lieu of CLTA 104.1 Endorsement when the original note is not furnished or the note is not properly endorsed.
(2) The requirements for issuance of this endorsement are as follows:
(a) A search for reconveyances, subordinations, modifications, etc. of the insured deed of trust or mortgage;
(b) A general index search of the assignor and all intervening assignors for federal tax liens, bankruptcies, incompetencies, etc..
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):