Short-Form Commercial Loan Policy

A one-page ALTA policy, the Short Form Commercial Loan Policy provides built-in lender-required coverages at no additional premium through lender endorsements incorporated by reference.  The policy also decreases lenders' costs by reducing discrepancies between recording instructions and policy, thereby lowering audit costs as well as reducing due diligence requirements, i.e., there is no need for the lender to review survey, CC&Rs, tenant leases regarding the options/rights of first refusal, etc.

Why work with First American?

  • No survey is required when issuing the Short Form Commercial Loan Policy. New built-in coverages are incorporated by reference.

What do we offer?

  • Our policy includes the following built-in coverage: Use not impaired by easements or CC&Rs, expanded survey coverage, protection against options to purchase or rights of first refusal in leases, revolving credit advances, type of improvements and property address, comprehensive REM (ALTA 9), variable interest (ALTA 6), negative amortization (ALTA 6.2) and environmental protection (ALTA 8.1).
  • Provides gap coverage automatically.
  • Requires no additional premium and no survey.
  • Reduces discrepancies between recording instructions and policy, thus reducing audit costs.
  • Reduces due diligence requirements, i.e., lender need not review survey, CC&Rs, tenant leases regarding options/rights of first refusal, etc.

Visit Product Website

First American Title - National Commercial Services

First American Title - National Commercial Services

http://www.firstam.com/ncs

Call

1.714.250.8332

Email a Product Specialist

rpelletier@firstam.com

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