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OLTA ENDORSEMENTS

   
 

ENDORSEMENT NAME AND DESCRIPTION

OLTA ALTA CLTA  
51
51.1
51.2
  108.7
''
108.8
Additional advance. For increased coverage extending to additional advance under previously insured open-end mortgage.

Use 51 on OLTA loan policies where there are no changes in the record; use 51.1 on ALTA loan policies; use 51.2 on OLTA policies where there are changes in the record.

       
52   100 ALTA Loan Policy Standard Endorsement. Insures against present violations of restrictive covenant and against encroachments.
       
52.2 9 100.2 Comprehensive Endorsement for Lenders.
       
53.1 10.1 104.A Assignment of Beneficial Interest, Form A. Updates title for assignment of beneficial interest in mortgage.
       
53.2 10 104.1 Assignment of Beneficial Interest, Form B. Insures validity of assignment but does not update title.
       
54 1   Street Assessment. Insures against loss from street assessment.
       
55 2 125 Truth-in-Lending. Insures against loan's non-compliance with Truth-in-Lending Act.
       
56
56.1
3
3.1
123.1
123.2
Zoning. Insures zoning classification.
       
57   111.3
111
Partial Release. Insures that partial release of mortgage does not impair lien on remainder of property.
       
58   110.1 Elimination of Exceptions (ALTA Lender's). For elimination of survey or construction lien exception from ALTA Lender's policy.
       
59   116 Location of Improvements. Insures street address of improvements. (OLTA 116)
       
60   100.5 Violation of Existing Setback Provisions. Insures against enforcement of setback provisions in restrictive covenants; for ALTA or OLTA loan policies.
       
61
61.1
  100.4
103.6
Encroachment of Improvements. Insures against encroachments; for ALTA or OLTA loan policies.
       
62.1   112 Standard Bondholder's. For use with standard lender's policy when insured mortgage secures a bond.
       
62.2   112.2 ALTA Standard Bondholder's. For use with ALTA Lender's policy when insured mortgage secures a bond.
       
62.3   119.4 Standard Bondholder's Coverage - Lease of Sublease Validity. For use when insured mortgage affects leasehold interest.
       
63
63.1
63.2
6
6.2
111.5
111.8
111.8
Adjustable Rate Mortgage. Insures validity of adjustable rate mortgage.

Use 63 on 1992 ALTA loan policies without provisions for negative amortization; use 63.1 on 1992 ALTA loan policies with provisions for negative amortization; use 63.2 on OLTA and 1970 ALTA loan policies. (OLTA form 63 is ALTA form 6; OLTA Form 63.1 is ALTA Form 6.2)

       
64   102.5 Foundation. Insures that foundation location complies with restrictive covenants and does not encroach on easements or boundary lines; for standard Lender's policy.
       
65 2.13   Non-Imputation. Protects owner or lender against imputation of knowledge to it by operation of law.
       
66   110.1 Elimination of Exceptions. For elimination of a policy exception.
       
67   111.4 HUD. Insures lender and HUD that a subsequent conveyance does not impair lien or priority of insured mortgage; for ALTA Lender's policy.
       
68 3.24 111.11 Line of Credit. Extends limited priority coverage to advances made under line-of-credit type mortgages; for ALTA or OLTA loan policies.
       
69.1
69.2
  122 Priority of Advance. Updates title for phased disbursements of loan proceeds; for ALTA Loan policies. Use 69.1 for coverage against unrecorded construction liens; use 69.2 for standard coverage.
       
70   101.6 Statutory Construction Lien. Title update on construction liens only; for ALTA or OLTA loan policies.
       
71 4
<mod.>
115.1 Condominium. Insures that condominium is valid condominium, with related coverage; for ALTA Lender's policy. (ALTA Form 4)
       
72 7 116.5 Manufactured Housing Unit. Includes a designated manufactured housing unit within policy definition of "land"; for ALTA or OLTA loaned policies.
       
73.1   110.5 Modification (OLTA Lender's). Updates policy for modification of insured mortgage.
       
73.2   110.6 Modification (ALTA Lender's). Updates policy for modification of insured mortgage.
       
74   116.1 Survey. Insures that land covered by policy is same as land on a designated survey.
       
75   116.4 Contiguity. Insures that designated parcels are contiguous.
       
76     Date-Down for Guarantee.
       
77     Date-Down for Limited Coverage Loan Policy.
       
78     Owner's Inflation. Provides upward adjustment of Owner's policy coverage for inflation, not to exceed 50 percent increase.
       
79.1   108.10 Revolving Type Loan Credit Line Increase (OLTA Lender's). Increases policy coverage and updates policy for modification of line of credit mortgage.
       
79.2   108.10 Revolving Type Loan Credit Line Increase (ALTA Lender's). Increases policy coverage and updates policy for modification of line of credit mortgage.
       
80   103.7 Access. Insures that land abuts upon a physically open street of a specified name.
       
81     Re-recording. Provides re-recording information for insured mortgage.
       
82 5 115.2 Planned Unit Development. Insures lender against present violations of restrictive covenants and other matters pertinent to property improved through a PUD.
       
83
83.1
8.1
8.1
110.9
110.9
Environmental Lien. Insures against properly filed or recorded environmental protection liens not excepted under Schedule B. Use 83 for 1987 ALTA loan policies; use 83.1 for 1970 ALTA loan policies.
       
84   104.6 Assignment of Lease. Provides assurances regarding the validity and priority of an assignment of leases and rents which is given as additional security to an insured lender.
       
85     Modification of Arbitration Provisions- Lender or Owner. Modifies or eliminates arbitration provisions of ALTA policy.
       
86     HUD Assignment of Beneficial Interest.- Lender Extended. Updates title for assignment of beneficial interest to secretary of HUD
       
87     Public Redord Recheck- Lender or Owner. Updates policy; limitations apply.
       
88     Limited Coverage Loan Policy Credit Line/Variable Rate.- Limitations apply.
       
89   111.9 Balloon Mortgage.- Lender. Provides lien priority and validity coverage in connection with exercise of conditional right to refinance under rider to insured mortgage.
       
90     Substitute Insured- Owner. Substitutes new named insured for specified transfers without consideration between affiliated parties.
       
91   103.6 No Encroachment of Easement.- Lender Extended. Insures lender that improvements do not encroach onto specified easements.
       
91.2   103.3  
       
92   104.6 Security Assignment of Lessor's Interest- Lender Extended. Provides lender with assurances regarding security assignments of lessor's interest under specified lease.
       
93     Shopping Center- Lender or Owner. Provides assurances regarding specified appurtenant easements under declaration of covenants, conditions, restrictions and easements..
       
94
94.1
    Tie-In.- Lender. Aggregates liability of specified loan policies. Use 94 for ALTA 1992 policy; use 94.1 for ALTA 1970 policy.
       
95     DMV- Owner. Provides lien update of policy in connection with exempting a manufactured home from vehicle registration.
       
96     Last Dollar.- Lender. Modifies Paragraph 9(b) of the Conditions and Stipulations of 1992 ALTA loan policy.
       
97     Elimination of ALTA Loan Policy Liability Noncumulative Provision.- Deletes Paragraph 10 of Conditions and Stipulations of 1992 ALTA loan policy.
       
98     Successor Insured (Fairway) Endorsement- Owner. Provides that specified changes within a partnership will not cause the policy to lapse and that the policy will continue in favor of specified successors in interest of the originally insured partnership.
       
99   13 Leasehold -- Owners- Owner. Converts an owner's policy to a leasehold owner's policy.
       
100   13.1 Leasehold -- Loan- Lender. Converts a loan policy to a leasehold loan policy.
       
101     Elimination of Creditor's Rights Exclusion- Lender or Owner. Not an OLTA form but available from all insurers.
       
 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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