CO Assignment Endorsement Guideline 104.2

Explanation:

Provides the assignee of a mortgage or deed of trust insured under an ALTA Loan Policy with assurances concerning (a) the validity of the assignment to evidence the transfer of the entire beneficial interest to the named assignee; (b) that no full or partial release, and no modification or subordination of the insured mortgage or deed of trust appears of record; and (c) changes the effective date of the policy.

Underwriting Requirements:

(1) This endorsement may not be utilized to insure a collateral assignment.
(2) The requirements for issuance of this endorsement are as follows:
(a) A review of the original note and deed of trust must be made in order to preclude conflicts between the record assignor and true owner of the note.
(b) A search for releases, subordinations, modifications, etc., of the insured deed of trust or mortgage;
(c) A general index search of the assignor and all intervening assignors for federal tax liens, bankruptcies, incompetencies, etc..
(d) Update of the title showing no additional matters appearing of record subsequent to original policy date.