Endorsements: Form 2121-06 Instructions

NOTES:

Coverage: This endorsement specifies the definition of actual loss on the Loan Policy where there are multiple parcels of land secured by the insured mortgage. Ordinarily, ATG would require the insured lender to foreclose all parcels before making a claim under the policy. This endorsement would allow a lender to claim a loss where one parcel is being foreclosed, but not the others. In the case where the lender later forecloses on other parcels and recoups the claim loss, in whole or part, then the endorsement allows ATG to subrogate and be reimbursed for the claim loss.

Procedure: This endorsement may be issued on Loan Policies only where there are multiple parcels on the insured mortgage. We do not require that the Loan Policy insure all parcels.

Questions? Contact an Underwriter.