Page 112 - ALTA Endorsements Guide

ALTA ENDORSEMENT RETURN TO TABLE OF CONTENTS

ALTA 14.3

Future Advance - Reverse Mortgage

The ALTA 14.3 endorsement insures future advances made in the context of reverse mortgages. It
provides coverage for the validity and priority of post-policy advances and assures that the priority
and validity of the mortgage is not impeded by provisions which provide for interest on interest

or changes in the rate of interest. The endorsement also insures that advances and re-advances
of principal will have the same priority as initial advances secured by the mortgage. Additional

assurances as to compliance with state laws in securing advances, the failure of the insured
mortgage to state a term for advances or the maximum amount secured, and the borrowers having
attained the age of sixty-two (62) years are contained in the ALTA endorsement. This endorsement is

only available for loan policies.

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