What does Isaoa mean on a check?

ISAOA. ISAOA is an acronym found in mortgagee clauses that stands for “its successors and/or assigns.” It’s included in the clause to stipulate that the mortgagee can transfer their rights to another bank or financial institution.

What is ALTA 9 endorsement Texas?

Originally there was the ALTA Form 9 endorsements, consisting of the ALTA 9 and 9.1, for owner and loan policies respectively, commonly called a “comprehensive endorsement,” These insured against losses due to encroachment of improvements, damage to improvements from development of minerals, and violation of covenants.

What is a me too endorsement?

This co-insurance endorsement, also known as a “me-too endorsement”, may be issued for an owner’s or a lender’s title insurance policies when there are multiple policies to evidence the distribution of liability between one or more title insurance companies.

What is a mortgagee clause example?

What is an example of a mortgagee clause? Mortgagee clauses protect your lender from damage to your property, even if you caused it. So, for example, if you commit arson—an act that would void your insurance policy—the clause protects the mortgagee, ensuring that your lender will still be covered.

Why did my mortgage company send me a check?

If you are eligible for an escrow refund check, the loan servicer will most likely issue a check after its required annual escrow account analysis. The timing can be any month of the year, but during this review loan servicers check that your escrow payments match up with the bills paid out of this account.

What is hoi in mortgage?

The NAHB/Wells Fargo Housing Opportunity Index (HOI) for a given area is defined as the share of homes sold in that area that would have been affordable to a family earning the local median income, based on standard mortgage underwriting criteria.

What does the mortgagor mean?

In a real estate agreement, the mortgagor is the borrower of a mortgage loan and the mortgagee is the lender. The mortgagor makes regular payments on the loan and agrees to a lien on the mortgaged property as collateral for the mortgagee.

What is Alta 33?

ALTA 33 Endorsement – Disbursement It is intended for use with improved or unimproved commercial or residential property and issued against loan policies alone. It protects against the indebtedness arising due to construction loan advances occurring after the date of the policy.

Where do I find mortgagee clause?

A mortgagee clause is found in many property insurance policies, and it provides protection for a mortgage lender if a property is damaged. Normally, you will be asked to agree to a mortgagee clause when you take out a mortgage.