Escrow & Title
What are 'endorsements' to a title insurance policy in Idaho?
AAdditional signatures required on deeds
BModifications to a title policy that add, delete, or limit coverage for specific items or issues✓ Correct
CApprovals from IREC for the transaction
DLender requirements for additional insurance
Explanation
Endorsements are additions to a title insurance policy that modify standard coverage — adding coverage for specific risks (like survey matters or access rights) or limiting coverage for identified exceptions.
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Key Terms to Know
Title Insurance
Insurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Pre-ApprovalA lender's conditional commitment to loan a specific amount to a borrower, based on verified income, credit, and assets.
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