Page 155 - ALTA Endorsements Guide

A L T A E N D O R S E M E N T

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STANDARD EXCEPTIONS FOR THE ALTA LOAN POLICY

(ONE-TO-FOUR FAMILY RESIDENTIAL)

Revised (10-16-08)

The ALTA Standard Exceptions are suggested for use in one-to-four family residences. The
Standard Exceptions are intended to facilitate the electronic transmission of title insurance policies. The
Standard Exceptions are also intended to promote a prompt and efficient review of the Schedule B
Exceptions from Coverage by lenders.

The suggested ALTA Loan Policy Standard Exceptions relate to residential transactions and
matters that are commonly excepted from coverage in Schedule B. A title company using the suggested
Standard Exceptions will be able to expedite the lender's policy review. As lenders become familiar with
their text or unique coding, the suggested Standard Exceptions will be readily distinguished from other
exceptions peculiar to the title examined. The lender may be able to recognize Standard Exceptions by the
text or by the suggested ALTA coding.

The Exception Topics (for example, ACCESS) are matters for which Standard Exceptions have
been prepared.

The Exception Code (for example, ACCX01 under ACCESS) consists of:

1. A three-letter abbreviation referring to the topic of the Exception (for example, "ACC" in ACCX01,
identifies the Topic of ACCESS).

2. A letter identifying the use of the suggested Standard provision (for example, "X" in ACCX01
identifies this provision as a Schedule B Exception). Companies may develop provisions for
Schedule A or Requirements sections of the Policy or Commitment that are identified by a different
letter. The ALTA has not prepared suggested provisions for Schedule A or Requirements.

3. A two-digit number identifying the particular exception relating to the topic (for example, "01" in
ACCX01).

The Exception Headings (for example, "Complete Lack of a Right of Access" following the
Exception Code ACCX01) identify the specific situation covered by the suggested Standard Exception. The
Heading is not a part of the Exception.

The suggested Standard Exception appears immediately below the Exception heading (for
example, "Lack of a right of access to and from the Land." under ACCX01).

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