Page 107 - Guide to the Most Requested Commercial Title Insurance Endorsements eBook

ALTA Table of Contents Quick Reference Index

ENDORSEMENT 1 2 3 1 2 3 4 5 6

USURY ENDORSEMENT
ALTA ENDORSEMENT 27

I. Purpose:

The ALTA 27 endorsement insures against losses arising from the invalidity or
unenforceability of the insured mortgage because the interest rate in the loan
documents violates state usury laws.

The ALTA 27 endorsement is available for Loan Policy only.

II. Coverage Provided:

The ALTA 27 endorsement provides coverage against loss or damage arising in
the event that the lien of the insured mortgage is deemed invalid or
unenforceable because the interest rate provided in the loan documents
secured by the insured mortgage violates state usury laws.

III. Title Tips:

This coverage may only be given where usury coverage is permitted by state
statute and if the transaction being insured falls within an exemption to the
usury statute.

11 NCS Commercial Endorsement Guide | oldrepublictitle.com/ncs 107