Page 30 - ALTA Endorsements Guide
P. 30
ALTA ENDORSEMENT RETURN TO TABLE OF CONTENTS
ALTA 6.2
Variable Rate Mortgage Negative Amortization
The ALTA 6.2 endorsement insures the lender against the invalidity, unenforceability, or loss of priority
of the lien of the insured mortgage as a result of changes in the rate of interest, interest on interest,
or increases in the unpaid principal balance of the loan resulting from the addition of unpaid interest
pursuant to a formula provided for in the insured mortgage or loan documents. This endorsement does
not increase the face amount of the Policy and it excludes usury and any claim or defense costs based
on consumer protection laws. This endorsement is available for loan policies only.
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