LA ALTA Endorsement Form 10 - Assignment (9/24/94)
Explanation:This endorsement is to be issued for a mortgagee's policy in connection with an assignment of mortgage. It insures the validity of the assignment and insures that no full or partial release has been recorded in the public records.
The underwriting requirements are as follows:
- The name of the transferee should be inserted in paragraph 1 of the endorsement.
- The assignment must be described in paragraph 2(a).
- Title must be examined to determine the existence of any full or partial release, reconveyance, or discharge of the insured mortgage, or any modification thereof. Any such matter must be shown in paragraph 2(b) of the endorsement.
- You must determine that there are no inconsistent assignments of record. The record must reflect an assignment from the record holder or beneficiary of the mortgage.
- The assignment of the insured mortgage must be examined and recorded.
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