Guideline: ALTA Endorsement JR1 Revised 08-01-12 and 4-2-22

Explanation:

The ALTA Endorsement JR 1 is a continuation endorsement for the ALTA Residential Limited Coverage Junior Loan Policy Revised 08-01-12 and 4-2-22, as applicable. It is generally requested at the time the insured's mortgage is executed. It will show intervening liens or deeds recorded after the Date of Policy of ALTA Residential Limited Coverage Junior Loan Policy. Generally, it will also show the insured's mortgage.

ALTA Endorsement JR1 Revised 08-01-12 is designed to be issued with ALTA Residential Limited Coverage Junior Loan Policy Revised 08-01-12. ALTA JR1 Endorsement (4-2-22) is designed to be issued with ALTA Residential Limited Coverage Junior Loan Policy (4-2-22). Where available, use the version of the endorsement designed for the applicable policy, unless approved by a Stewart Title Guaranty Company underwriter. It is not necessary to indicate the parenthetical (date) on the endorsement attached to the policy.

Underwriting Requirements:

(1) Issue this Endorsement after you issue the ALTA Residential Limited Coverage Junior Loan Policy.

(2) Paragraph 2: Date of Endorsement: Insert the date through which your examination is made. However, you may insert the date of execution of the insured's mortgage and include the phrase “or the date of recording of the Insured's Mortgage, whichever is more recent” if: (1) the insured requires that the Endorsement be issued before the recording information is possible and before an examination through that date is possible, and (2) you receive the original mortgage for immediate recording. If you are requested to issue this endorsement before the execution and delivery of the insured's mortgage for recording, do not insert the phrase “or the date of recording of the Insured's Mortgage, whichever is more recent” and insert only the date through which your examination was made.

(3) Paragraph 3: Insured’s Mortgage: Insert the insured's mortgage which has been recorded or which is furnished to you for recording. You do not need to show recording information if the insured furnishes the original mortgage to you for recording and if the insured requires immediate issuance of the Endorsement. If you receive the original mortgage for recording, you may issue this Endorsement immediately after doing your search to the most recent date possible and prior to receipt of the recording information of the insured's mortgage if the insured requires such immediate issuance. If you are requested to issue this Endorsement before the execution of the insured's mortgage, you should delete Paragraph 3 entirely. If you then issue a second or later Endorsement JR 1, you should include all exceptions appearing in the prior Endorsement(s) JR 1.

(4a) Paragraph 4a: Insert deeds and other conveyances of the title recorded subsequent to the Date of Policy of the ALTA Residential Limited Coverage Junior Loan Policy. Examine title from the Date of Policy to provide this coverage.

(4b) Paragraph4b: Insert monetary liens found in the search of the title and in the general name search against the "Grantor" after the Date of the ALTA Residential Limited Coverage Junior Loan Policy. Also, do your customary general name search for liens against the name of any subsequent grantee shown in a document excepted in Paragraph 4a of the Endorsement.

(5) Paragraph 5: If the insured requests issuance of ALTA Endorsement JR 2 (Future Advance), you may mark this box. You do not need to attach a copy of ALTA Endorsement JR 2, unless the insured requires a copy to be attached. If your state law requires that the mortgage contain specific language (such as a heading) in order to secure future advances, verify that the mortgage contains the required language.

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.