None of these new coverages have ever been included in any title policy...UNTIL NOW!

Lender's Policy . . .

One of our underwriters, First American Title Insurance Company, has introduced the Enhanced Title Policy, first known as the EAGLE Policy, and now approved and available through all of our underwriters. The Enhanced Policy provides expanded title coverage for one-to-four family residence and condominium unit owners and lenders avoiding the necessity of numerous endorsements.

The Enhanced Policy is the 1992 ALTA Loan Policy - with additional coverages added as summarized:

~ Coverage is increased to 125% of the stated amount of the policy to provide for indemnification of accrued interest, including negative amortization, etc.

~ Access includes both pedestrian and vehicular access (other policies insure access without defining extent of rights)

~ Policy provides Mechanics' Lien coverage regardless of whether the work commences before or after the mortgage is recorded.

~ Policy provides coverage against claims that the loan is usurious under the laws of the state where the land is located.

~ Protects the lender when the land does not have the street address shown in the policy.

~ Indemnifies against loss by reason of the failure of the land to contain a one-to-four family residential structure or condominium unit.

~ Limited zoning coverage is provided to permit a one-to-four family or condominium residential structure.

~ Indemnifies against loss for failure of the land to be lawfully subdivided.

~ Coverage afforded by the following endorsements is automatically included: (1) Restriction, Easements, Minerals; (2) Variable Rate Endorsement; (3) Negative Amortization; (4) Environmental Protection Lien; (5) Revolving Credit Coverage; (6) Survey Coverage Without Survey

~ Indemnifies against loss for failure to obtain a valid building permit for existing structures as well as replacements or modifications constructed in the future.

~ Indemnifies against loss because the existing residential structure, or any replacement thereof constructed in the future for residential purposes, violates existing restrictions.

~ Indemnifies against loss by reason of future encroachments on the land by someone other than, and without the consent of the owner of the land.

~ Indemnifies against loss by reason of damage to the existing structure, including a replacement or modification thereto, as a result of the future exercise of a right to use the surface of the land for the extraction or development of minerals.

~ Indemnifies against loss by reason of any future forgery of any assignment or partial release of the insured mortgage or, if the lender has acquired the fee through foreclosure or a deed in lieu of foreclosure, a purported conveyance of the lender's interest through a forged deed.