Online Brochures For RE Professionals About CTIC Recommended Practices Informational Articles TIRSA Endorsements History Logo Chicago Title 160th Anniversary Video
Home ACRIS 2.1 Preparation of ACRIS Forms CTIC Staff Directory Order a Title Search National Forms & Information Informational Terms and Phrases	TIRSA Endorsements Variable Rate Mortgage - Fixed Rate Conversion Description ALTA Endorsement 6 insures against loss of priority by reason of changes in the rate of interest on the principal indebtedness secured by the insured mortgage. The Fixed Rate Conversion endorsement also insures against loss of priority by reason of provisions in the mortgage which permit the borrower to convert to a fixed rate. The Negative Amortization endorsement also insures against loss of priority by reason of the capitalization of interest. Requirements The mortgage must provide for changes in the interest rate. For the Negative Amortization endorsement to be issued, mortgage recording tax is to be paid on a maximum stated principal amount of indebtedness including the amount of interest that may be capitalized, and a mortgage recording tax affidavit is required (Loan Policies).   Premium Endorsement is $25.00. For negative amortization, the policy premium is computed on an amount inclusive of secured, capitalized interest.   Downloadable Forms Choose Format From Below PDF DOC WPD TXT
Copyright © 2009 Chicago Title Insurance Company. All Rights Reserved. Privacy Policy    |     Patriot Act    |     Contact Webmaster