In this article, we are going to discuss a few endorsements that can be used in a lender’s title insurance policy.
This endorsement is used when a mortgage secures both a revolving credit facility and a term loan facility. It provides a lender with protection against loss as to priority of the term loan facility because of the reductions and subsequent increases of the revolving loan facility.
This Endorsement is ordinarily issued when a Mortgage is assigned and the Assignee wants protection against loss in the event that the assignment is not valid and enforceable. The Endorsement recognizes the Assignee as the Insured and provides specific coverage against loss in the event that the assignment fails to vest title to the Insured Mortgage in the Assignee OR in the event there have been modifications or releases of the Mortgage that are not identified in the Policy or the Endorsement. This endorsement does not advance the effective date of the policy.
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