Endorsements
Report Types
Exceptions
Schedule A/BI
Signing Structure
Miscellaneous
100
This endorsement is a standard endorsement that is obtained on every single real estate secured commercial loan with title insurance.
What is the Alta 37 aka Assignment of Rents
100
This initial title work is obtained for a $50,000 loan in Arizona
What is a Limited Liability Report?
100
These are considered what?
What is Standard Exceptions?
100
Commitment Date, Policy to be Issued, Estate or Interest In, Vested In, Land is Described
What is Schedule A?
100
The California commercial property we are refinancing is vested in Kaer Morhen, Inc, a California Corporation which is 100% owned by President/CEO Yennefer de Vengerberg. Who is signing the DOT and what is their signing titles?
Who is Yennefer de Vengerberg and President/CEO?
100
What differences in title requirements are there for property taken as an AOC?
What is None. An Abundance of Caution differs only in the fact that an appraisal is not required to determine the value. All other conditions (title, flood etc) stay the same.
200
DAILY DOUBLE
This endorsement is obtained on all construction/renovation loans when Draws is involved.
200
This initial title work is obtained for a $500,000 ag loan in Benson County ND.
What is a Title Opinion?
200
When no recorded exceptions are listed in the title commitment, this might be considered what?
What is a Short Form Report? Western requires a long form report & policy and it must show all active recorded items on the property.
200
This language will cause no new deed to be recorded when one vested owner dies.
What is right of survivorship?
200
Lana Del Rey & Jeremy Dufrene are buying a house in Mesa, AZ, however, Jeremy does not want to sign the mortgage and wants no marital rights to the property. How does the property need to be vested?
What is Lana Del Rey, married woman, as her Sole & Separate. Jeremy & Lana will need to go through the process of deeding his ownership over to Lana to have her own it 100% as her sole & separate property.
200
What states have Mortgage Registry Tax?
Who is Alabama, Florida, Kansas, New York, Minnesota, Tennessee, Georgia, OK, Virginia?
300
Wondery, Inc has a current loan for $1.5 Million with a title policy in place. They are increasing the loan to $2 Million and extending for another 4 years. What endorsement is obtained?
What is the Alta #11.2 aka Date Down and Increase Endorsement?
300
This final title work is obtained on a 2nd lien $615,000 loan in Clay County, MN.
What is a Final Title Opinion?
300
Is this Exception removed from the Final Title Policy?
What is No? This is provides power to the property.
300
60 Days
What is the time frame title work is valid for per our policy guidance?
300
Travis Barker and Kourtney Barker live in Benson County, ND. Travis owns vacant ag land in his name in Ramsey County, ND. Who signs the Mortgage?
Who is Travis Barker? The property is not homesteading, therefore, Kourtney does not need to sign.
300
What should be obtained from title and generally recorded when the property shows judgements that do not belong to the borrower?
What is an Owners Affidavit or Statement of Information? In ND, this is generally called an Owners Affidavit and in AZ/CA is generally called an SOI or Statement of Information.
400
This endorsement provides some coverages relating to violations of CCRs, recorded notices of environmental covenant violations, and violations that result in the invalidity, unenforceability or lack of priority due to covenant violations due to indebtness.
What is the Alta #9 or Restrictions, Encroachments, Minerals?
400
This final title work is obtained on a 2nd lien $350,000 loan in Maricopa County, AZ.
What is a Standard Lender's Policy?
400
This needs to happen when there is a Wind Tower Lease on property?
What is it depends:
Internally: Credit should be aware is exists and typically is seen on a rent roll.
Title:
ND: Per Brandon P, we would ensure the entire legal and if there was an easement, it would be an exception. We should obtain the 36.5-06. Title would need to validate many things (title guidance to be updated) and they would suggest an abstract from patent forward & an TO. They would also recommend not getting an O&E.
AZ: Per Beth M, normally that land is leased and is still part of the legal. She would recommend the Alta 36 as well and depending on the situation, one of the 36 branches (ie: 36.1 etc.) A lease would generally show as an exception and an assignment of lease to the new owner would likely be required.
400
What are community property states?
Helpful Hint: This differs from spousal signing states (MN & ND) where a spouse might need to sign on a real estate transaction, but does not mean they automatically get ownership of the property.
400
Sebastian Stan and Chris Evans own the general partnership, Avengers GP. They are buying a property in Dunseith, ND. Who signs the mortgage?
Who is Sebastian Stan & Chris Evans? Unless they have a partnership agreement stating otherwise, however, a GP agreement is not required, but is preferred by Western.
400
DAILY DOUBLE
Draw out the ag legal description- The South East Quarter of the Southwest Quarter along with the Northwest Quarter of the Southwest Quarter of the Southeast Quarter of Section 20.
What is: 
500
This endorsement should be obtained when you see this on your title work:
What is the Alta 35 aka Minerals & Other Subsurface Endorsements
500
What are abstracting states?
500
There is a 1x Construction loan to build 2 SFR on a plot of land. The intent is to split the land in half and sell off the 2nd SFR. The appraisal states that the parcel is 1.60 acres. After reviewing the Title Work, you are concerned about Exception 11 that states "Covenants, conditions and restrictions in the document recorded as Docket 262, Page 508 but deleting any covenant, condition or restriction....Title 42". Upon review you find the snippet below in the recorded docs. What do you do?
What is Alert UW, BBO, Draws. Per this Resolution, the parcel cannot be split under 2 acres and further splitting will cause the construction to be halted by the HOA. This happened on a Retail loan where 4 family members bought a parcel of land with the intent to split and the construction was stopped. The loan ended up turning straight to perm with a loan amount of the disbursed funds.
500
Devon Sawa set up the Ali Larter Final Destination Investment Trust for his wife, Alison Larter. The trust will be the vested owner of the new house they are buying. Who signs the DOT?
Who is Alison Larter? As this is an investment trust (a type of irrevocable trust), Devon has no rights to the assets.
500
DAILY DOUBLE
What are homesteading states?