- For 2nd lien loan amounts $25,000 to $350,000, the lender uses a Property Report from Stewart to confirm:
- Current grantee and grantor
- Last deed of record information
- Recordable legal description
- Status of real estate taxes
- Open mortgages and voluntary encumbrances
- Judgments, liens and involuntary encumbrances
- UCC Fixture filings are allowed to remain on the property.
- Name discrepancies from Loan Application and provided information
- Lien Position
- For 1st liens and 2nd liens with loan amounts $350,001 to $750,000, the lender obtains an ALTA policy.
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