Lien Priority Insurance

Lien priority insurance insures that the validity, enforceability, or priority of the deed of trust or mortgage has not been diminished or lost by reason of loan modification or assumption. First American’s solutions for lien priority insurance¹ include the ALTA residential limited coverage Mortgage Modification Policy (MMP)², a title endorsement to an existing ALTA^® title policy, or a new ALTA title policy with endorsement.

Lien Priority Insurance Availability

Availability

Mortgage Modification Policy (MMP): AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MA, MD, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, UT, VT, VA, WA, WV, WI and WY.
ALTA: AK, NY and TX.

Mortgage Modification Policy

The MMP provides an alternative to an ALTA loan policy. The MMP insures against loss or damage resulting from the original lien being deemed invalid or unenforceable or the original lien position being lost as a result of a loan modification.

Title insurance product, approved by Ginnie Mae
Sets forth the modification recording information, as applicable
The MMP is offered in 47 states, plus Washington, D.C. In the states where the MMP is not available, an ALTA loan policy or endorsement is available to insure the modification
Because we use similar criteria and processes as the MPG to issue the MMP, we will have a seamless process to issue the final product for our clients

ALTA^® Policy and Endorsement

In states where the MMP is not available, First American may be able to provide a title endorsement to an existing ALTA^® title policy or a new ALTA title policy with endorsement (if required).

Offered in Alaska, New York and Texas, where the MPG is not available
Tracks down the previous insurer and coordinates the endorsement with the issuing title office

^1. As with any insurance contract, the insuring provisions express the coverage afforded by the title insurance policy and there are exceptions, exclusions and conditions to coverage that limit or narrow the coverage afforded by the policy. Some coverage may not be available in a particular area or transaction due to legal, regulatory, or underwriting considerations. The services described above may differ due to the specifics of your transaction or the location of the real property involved.

^2. The MMP, like all title insurance products, is subject to First American’s underwriting guidelines.

Lien Priority Insurance