Endorsements are a discretionary means of expanding loan policy coverage.
An underwriter may make expansion of loan policy coverage contingent upon receipt of additional documents, information, or assurances. For example, deletion of the (standard) survey exception may be contingent upon receipt of an acceptable survey.
An underwriter may decline to expand loan policy coverage. For example, in Colorado it would be unusual to offer mechanics’ lien coverage to a lender providing construction financing.
Unified Title Company** shall have no obligation, by and through its various underwriters, to provide endorsement coverage to which it has not agreed; nor shall any incur liability for failure to provide such coverage.
For transactions that include closing services, lenders should list required endorsements in their closing instructions and confirm that the last-issued commitment includes all required endorsements. For “title-only” transactions, lenders should confirm that the last-issued commitment includes all required endorsements.
Insureds shall be responsible for the cost of any endorsement requested after closing (or after policy issuance).
Issuance of an endorsement that is requested after closing, (or after policy issuance) shall be at the sole subjective discretion of the underwriter providing the policy.
** As used herein, Unified Title Company includes both Unified Title Company LLC and Unified Title Company of Northern Colorado, LLC.