May 19, 2009
The ALTA Board of Governors approved two forms forms in February. The first form is an updated ALTA® Endorsement Form 14.2-06 (Future Advance - Letter of Credit). The endorsement was changed to clarify the endorsement regarding limitations on amounts that may be recovered from a mortgagor's estate.
The second form is the new ALTA® Model Inter-Underwriter Indemnification Agreement. This model agreement was developed for use by underwriter entities to provide mutual indemnities for certain liens and defects agreed upon by the underwriters.