Page 186 - ALTA Endorsements Guide
P. 186
ALTA ENDORSEMENT RETURN TO TABLE OF CONTENTS
ALTA 29.3-06
Interest Rate Swap Endorsement – Additional Interest – Defined Amount
The ALTA 29.3 provides coverage for the loss or damage arising of the invalidity, unenforceability,
or lack of priority of the lien of the Insured Mortgage as security for the additional interest
(“Additional Interest”) arising out of the obligations under an interest rate exchange agreement
(“Swap Obligation”). This endorsement is issued when the Insured Mortgage secures the
Additional Interest calculated pursuant to the Swap Obligation, and the lender requires an
additional amount of insurance dedicated to the coverage for this Additional Interest. This
endorsement is only available for loan policies.
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