MI Pending Disbursement Commitment Endorsement
This endorsement is attached to a commitment in which the contemplated transaction is a construction loan and the proposed insured has requested unrecorded construction lien coverage. The endorsement serves to purposes:
1) It informs the proposed insured lender of our requirements for providing unrecorded construction lien coverage; and
2) Provides the proposed insured an opportunity to review the language contained in pending disbursement endorsement that will be issued with the loan policy.
This endorsement is should be attached to all commitments in which a construction loan is contemplated and unrecorded construction lien coverage is requested by the proposed insured. The requirements set forth in Note 1 of the endorsement must be satisfied to provide unrecorded construction lien coverage to a lender.
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