CLTA Assignment Endorsement Guideline 104A

Explanation:

Provides the assignee of a mortgage or a deed of trust insured under a CLTA Standard Coverage Policy with assurances concerning (a) the validity of the assignment to evidence the transfer of the entire beneficial interest to the named assignee; (b) subsisting real property tax or assessments liens; (c) matters affecting the validity or priority of the insured mortgage or deed of trust lien; and (d) federal tax liens or bankruptcy proceedings affecting title to the estate or interest covered by the policy.

Underwriting Requirements:

DO NOT ISSUE THIS ENDORSEMENT(S) IF THERE ARE MULTIPLE BENEFICIARIES UNLESS YOU SECURE THE APPROVAL OF A STEWART SENIOR UNDERWRITER.

(1) This endorsement requires the following:
     (a) If an original note for examination purposes has not been furnished or if the original note is not properly endorsed to the assignee, the CLTA 104.9 Endorsement must be used.
     (b) A general index search of the assignor and all intervening assignors for federal tax liens, bankruptcies, incompetencies, etc;
     (c) A tax and assessment search;
     (d) A search for mechanic's liens, reconveyances, modifications, inconsistent assignments, subordinations, and all other matters affecting the validity or priority of the lien of the deed of trust or mortgage; and
     (e) A name search of the property owner.