Ask Your Underwriter (Oct 2023)

Underwriting Commercial Endorsements

Presented by Kay M. Creasman

Due to the complexity of commercial transactions and the various underwriting requirements based on the type of property, loan documents, borrower, etc., please contact underwriting counsel at VAUnderwriting@OldRepublicTitle.com for guidance on issuing these endorsements. 

Zoning Endorsements (ALTA 3, 3.1, 3.2, 3.3, 3.4)

An extra hazardous risk premium up to 10% of the title insurance premium may be charged for a zoning endorsement. The premium, as well as approval to issue the endorsement, must be obtained from the Company. All premiums for the zoning endorsement are paid to the Company, as it is considered an extra hazardous risk.

Shared Appreciation Endorsement (ALTA 30)

This endorsement is issued with mortgages which contain shared appreciation provisions. It provides certain coverage against loss by reason of the loss of priority or validity of the mortgage because of conclusion of the mortgage or because of the operation of the shared interest provisions. All premiums for the shared appreciation endorsement are paid to the Company, as it is considered an extra hazardous risk. (Fee $150.00)

Restrictions, Easements, Mineral Endorsements (ALTA Forms 9-06, 9.1-06, 9.2-06, 9.6-06, 9.7-06, 9.8-06, 9.9-06, 9.10-06)

When issued for a commercial transaction an extra hazardous risk premium up to 10% of the title insurance premium may be charged. Approval to issue the endorsement must be obtained from the Company. The extra hazard risk premium shall be remitted in its entirety to the Company.

Multiple Mortgages on One Policy Endorsement (ORT Form 4286) – Approval to issue the endorsement must be obtained from the Company.