LOAN POLICY PLUS ENDORSEMENT
As a real estate lender, protection of the collateral for your loans is of utmost importance to you, whether you are making multi million dollar loans on commercial shopping centers or $20,000 equity line loans to homeowners. Fidelity National Title Company has a variety of products, each designed to respond to a specific need. More than 150 years of experience coupled with the highest insurance reserves in the industry assure you of the greatest level of protection available. Regardless of size, the experienced, dedicated members of our staff will give every transaction the attention it deserves.
For an insured lender, the Plus Endorsement provides comprehensive coverage against loss by reason of certain off-record risks and post-policy occurrences when combined with the Extended Coverage ALTA Loan Title Insurance Policy (10-17-92). The Plus Endorsement also meets the lender's critical need for:
- No Creditor's Rights Exclusion
- No Usury Exclusion
- No "Doing Business" Exclusion
Fidelity National Title's Plus Endorsement is available for a one-to-four family residence or condominium unit. Additionally, it provides an automatic 5% increase per year up to 125% of the amount of insurance stated in Schedule A after five years.
The following additional protections against loss can be secured when you request a Fidelity National Title Loan Policy Plus Endorsement:
- Expansion of existing Access Coverage
- Expansion of existing Mechanic's Lien Coverage requiring insurer to pay defense costs
- Usury Law Protection
- Accurate Street Address Protection
- Missing Improvements Shown in the Policy
- Zoning Law Violations
- Subdivision Map Law Violations
- Building Permit Violations
- ALTA Form 9 Endorsement Protection
- Survey Protection
- Violation of Restrictions
- Encroachment Protection
- Damage from Mineral or Water Extraction
- ALTA Form 6 Endorsement Protection
- ALTA Form 6-2 Endorsement Protection
- Post Policy Forgery Protection
- Environmental Lien Protection
- Loss of Priority Protection
In addition, the Plus Endorsement Provides:
- Inflation Protection
- Doing Business Protection
- Creditors' Rights Protection
The charge for the Loan Policy Plus Endorsement is 10% of the premium charged for the Policy to which the Plus Endorsement is attached.
For a detailed description of the Loan Policy Plus Endorsement, please contact your Fidelity National Title representative or your local Fidelity National Title office.