Commonwealth Land Title Insurance Company, NCS

ALTA ENDORSEMENTS - 282 - SAMPLES AND DESCRIPTIONS INSURED MORTGAGE RECORDING – LOAN – FORM 44-06 Covered Risk 14 of the 2006 ALTA Loan Policy provides coverage against the risk that title defects attach during any “gap” period between the date when the lender funds its loan and the date when the Insured Mortgage is recorded in the land records where the settlement date occurs prior to completion of the recording function. In these “table funding” or “gap closing” transactions, subject to satisfaction of underwriting requirements to insure through the gap period, the 2006 ALTA Loan Policy was designed so it can be issued at the closing even though the necessary recording function has not yet been completed. However, when the Loan Policy is delivered prior to recording the insurer would not have the recording information to insert in paragraph 4 of Schedule A where the Insured Mortgage is identified. Issued after the fact, this endorsement insures lenders against loss or damage of the failure of the insured mortgage to have been recorded and gives them the recording information. The endorsement facilitates prompt issuance of the title insurance policy, by indemnifying the Insured against the risk of failure to record and amends Schedule A to reflect the needed recording information when the final Loan Policy was issued at settlement with the recording function taking place after the settlement. This endorsement is for Loan Policies only. ALTA Endorsement — Form 44-06 (Insured Mortgage Recording – Loan – 12/2/13) Form 44-06 Insured Mortgage Recording – Loan