CLTA Increase of Coverage Endorsement Guideline 107.2
Explanation:This endorsement is issued to increase the face amount of liability on an existing title policy in favor of a lender or an owner.
Underwriting Requirements:(1) This endorsement is rarely used. It amends the Conditions and Stipulations of the lender's policy to provide that any loss shall be payable first to any insured lender in order of priority shown therein and thereafter to other insured’s ratably as their respective interest appears.
(2) The date of the original title policy is not updated by this endorsement.
(3) An examination of the last search should be made. If a substantial increase in liability is requested, a reexamination of the chain of title should be done.
(4) If there is any doubt surrounding the purpose for which the request is made, contact Stewart Title Guaranty underwriting personnel for further instructions.
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):