Fetruary 15, 2011
The CLTA filed a revised ALTA Expanded Coverage Residential Loan Policy along with the ALTA Short Form Expanded Coverage Residential Loan Policy. Both now conform to the existing ALTA Loan Policy concerning the extent of liability. The CLTA also filed one new ALTA endorsement, a residential shared appreciation mortgage endorsement for one-to-four family residences. The CLTA also amended one endorsement dealing with the validity of sublease, to include a creditors’ rights exclusion. The amendments will be effective 30 days after filing with the California Department of Insurance.