Page 76 - ALTA Endorsements Guide

ALTA ENDORSEMENT RETURN TO TABLE OF CONTENTS

ALTA 10.3

Collateral Assignment and Date Down

The ALTA 10.3 is designed to address collateral assignments of an Insured Mortgage and insures the
collateral assignee of record against loss sustained by:

1. Failure of the collateral assignment document to properly transfer title; and
2. The existence of a prior modification, partial or full reconveyance, release, or discharge of the

Insured Mortgage recorded in the Public Records on or prior to the Date of Endorsement, other
than those shown in the policy or a prior endorsement.

The endorsement also includes date-down coverage for matters affecting title from the Date of
Policy through the recording date of the Collateral Assignment. It expressly insures against loss or

damage sustained by reason of any liens for taxes and assessments, lack of priority of the lien of
the Insured Mortgage over defects, liens, or encumbrances, notices of federal tax liens, and pending
bankruptcy proceedings, except as set forth in the endorsement. Lines under each alphabetically

listed section provide for entry of intervening liens or matters, if any. This endorsement is available
with loan policies only.

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