The ALTA® Board of Governors approved recommendations to adopt 2 new endorsements and make revisions to 2 closing protection letters and a short form policy during a meeting on February 20, 2014. -
The current ALTA Closing Protection Letter has been modified to clarify that coverage does not extend to loss arising out of federal consumer protection laws, nor for loss arising out of laws pertaining to securitization, including exemption from credit risk retention.
Tax Credit Endorsements were also added
The current ALTA Closing Protection Letter – Single Transaction (12-1-11) has been modified to clarify that coverage does not extend to loss arising out of federal consumer protection laws, as defined in 12 U.S.C. §5481 (14), the ability to repay, truth-in-lending or other federal or state consumer protection or predatory lending laws, nor for loss arising out of laws pertaining to securitization, including exemption from credit risk retention. – See more at: http://www.alta.org/forms/formsnews.cfm#sthash.8386Tqdc.dpuf
The ALTA® Board of Governors approved recommendations to adopt 2 new endorsements and make revisions to 2 closing protection letters and a short form policy during a meeting on February 20, 2014. – See more at: http://www.alta.org/forms/formsnews.cfm#sthash.8386Tqdc.dpuf
The ALTA® Board of Governors approved recommendations for new forms
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