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ALTA 14 Endorsements Approved

Our Thanks to Karla Staker of Fidelity and Jim Russick of Old Republic and the entire Forms Committee for their hard work in getting the ALTA 14 series corrected and approved.  It is now up to each underwriter to submit their own version of these forms for approval.  

Please expect to hear more from your underwriter in the weeks ahead. 

Here is Karla's explanation of sent 4/2/12

Hello Everyone:

I am pleased to inform you that Jim Russick has obtained OIR approval of the 2011 revisions of the ALTA 14 endorsements on behalf of Old Republic. (Approval letter attached) According to the procedure informally set by the OIR, any insurer wishing to use the forms should now file an informational filing with the OIR. 

As you may recall, these 2011 forms correct a mistake in the 2006 forms.

Specifically, the 2006 ALTA 14s have an incorrect provision stating that the "Amount of Insurance includes Advances."  The 2011 forms say, correctly, that the "Indebtedness includes Advances."

There are two issues to which I want to draw your attention.  First, my understanding is that Old Republic obtained approval of the complete ALTA 14 series, consisting of:  ALTA 14.06 (Future Advance - Priority) Revised 2-3-11 ALTA 14.1-06 (Future Advance - Knowledge) Revised 2-3-11 ALTA 14.2-06 (Future Advance - Letter of Credit) Revised 2-3-11  ALTA 14.3-06 (Future Advance - Reverse Mortgage) Revised 2-3-11

I think it is a decision for each insurer, however, as to whether to file the 14.1.  In Florida, we do not need the 14.1 because 697.04 does not limit the priority of an advance if the "Insured has Knowledge of the existence of liens or encumbrances or other matters affecting the Land intervening between Date of Policy and the Advance."  The ALTA 14 and the 14.1 are alternatives for dealing with the two  rules for priority of advances applied by the states. Florida is a "priority" (ALTA 14) state, and so there is no need to file the "notice" (ALTA 14.1) version.  

Second, you will note that the following paragraphs are shown in brackets on the ALTA forms and are optional:  paragraph 4.f.  of the 14 and 14.3; paragraph 4.g. of the 14.1; and paragraph 3.d. of the 14.2.  Those paragraphs state that the endorsement does not provide coverage as to any mechanic's or materialmen's lien.  In Florida, a future advance would have priority over a mechanic's or materialmen's lien.  At prior committee meetings I think there was a consensus that we should delete those provisions.  So, you need to decide whether to delete those paragraphs on your filings.  According to Bob Bozarth, one of our underwriting attorneys who is on the ALTA forms committee, the optional paragraphs can be deleted without indicating that the endorsement is "Florida modified." 

In other words, the form is still an ALTA form, with or without the optional paragraph.

Please let me know if you have questions or comments for consideration by the forms committee. 

Best regards,


Karla J. Staker
Vice President
2400 Maitland Center Parkway, Suite 200 Maitland, Fl  32751
Toll Free:  800-669-7451
Direct:  407-618-5094
Fax:  407-478-3192

Forms Approved

OIR Approval Letter

14.0-06 Future Advance Priority

14.1-06 Future Advance Knowledge

14.2-06 Future Advance - Letter of Credit

14.3-06 Future Advance Reverse Mortgage


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