Page 15 - CTT Summary of CA Endorsements

CT!FORM 3137
(LASTDOLLAR ENDORSEMENT)
Ifalender'spolicyisissuedforlessthantheindebt- ednesssecuredby theinsuredmortgage,this endorse- mentwillprovidethatcoveragewillnotbereduced by payments on the principal of the loan until after the indebtedness has been reduced to the amount of insurance.
CT!FORM 3146
Provides insured lender with assurance concerning validity of recorded assignment transferring benefi- cialinterestunder adeedoftrust.Additionally,it pro- videstheinsuredlenderwithadatedownofthepolicy
CT!FORM 3147
Provides insured lender with coverage against loss byreasonoflack of priority oftheinsuredmortgage over any federal or state environmental protection lien whichis recordedin the relevant public'records, except as set forth in Schedule B of the policy. This endorsement is crafted for use with lender's policies issued on land used for other than residential pur- poses.
CT!FORM 3305
Provides insured lender with coverage against loss by reason of invalidity or unenforceability of insured mortgagelienbasedonadeterminationthat theloan transaction is usurious under the law of a particular state or states.
CT!FORM 3307
Modifies lender policy provisions to "tie-in" other policy liability relating to a commonindebtedness.
CTIFORM3331
(REVERSE ANNUITY)
Provides insured lender with coverage against (1) loss by reason of invalidity or unenforceability and (2) lass of priority of the lien of the insured mortgage causedby interest rate changes, interest on interest or the addition of unpaid interest to the loan principal. The limitations on this coverage are addressedin the endorsement.
CT!FORM3498 Providesinsuredlenderwithassurancethatthemodi- fication of the insured deed of trust as follows: (1) extension of due date of the secured note, and/or (2) reduction in the rate of interest, and/or (3) capitali- zation of earned but unpaid interest, and/or (4) re- duced mortgage payments made outside payment cycle,and/or(5)reductionin interestratepayableun-
CT!FORM 3191
Provides insured lender with assurance that the ex-
tension of the due date of the note secured by the
mortgagewillretainthepriorityofthemortgageas
originallyinsured. deradjustablerate,and/or(6)increaseininterestrate
spreadbutnoincreaseintoprate,willnotimpair the validity, enforceability or priority of the deed of trust.
13