CLTA Assignment Endorsement Guideline 104.11
Explanation:Provides the collateral assignee of an insured lender with the same coverage as the CLTA 104.4 Endorsement except it excludes loss as a result of lack 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 used in lieu of the CLTA 104.4 Endorsement when the original note is not furnished or is not properly endorsed to the assignee.
(2) The following elements are requirements for issuance of this endorsement:
(a) A search for reconveyances, subordinations, modifications, etc. of the insured deed of trust or mortgage; and
(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):