Any revision to this form requires approval of a Stewart Title Guaranty Company underwriter. 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.
Guideline: ALTA Endorsement JR2 (Future Advance) Revised 08-01-12 and 4-2-22
Organizational Guidelines
Guideline: ALTA Endorsement JR2 (Future Advance) Revised 08-01-12 and 4-2-22
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Explanation:
The ALTA Endorsement JR 2 endorses the ALTA Residential Limited Coverage Junior Loan Policy Revised 08-01-12 and 4-2-22, as applicable, to provide insurance as to future advance provisions and provisions providing for changes in the rate of interest in the insured's mortgage.
ALTA Endorsement JR2 (Future Advance) Revised 08-01-12 is designed to be issued with ALTA Residential Limited Coverage Junior Loan Policy Revised 08-01-12. ALTA JR2 Future Advance 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:
You must issue the ALTA Endorsement JR 1 in order to issue the ALTA Endorsement JR 2. You may issue the ALTA Endorsement JR 2 when you issue the ALTA Endorsement JR 1, if you describe the insured's mortgage in the ALTA Endorsement JR 1. If your state law requires that the mortgage contain specific language (such as a heading) in order to secure future advances and/or changes in the rate of interest, verify that the mortgage contains the required language. You do not need to attach ALTA Endorsement JR 2 to the ALTA Residential Limited Coverage Junior Loan Policy or to ALTA Endorsement JR 1 unless the insured requires that this Endorsement be attached; you may simply mark the Box in Paragraph 5 of ALTA Endorsement JR 1.
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):