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Residential Limited Coverage Junior Mortgage Policy Heloc/Variable Rate Endorsement

The Residential Limited Coverage Junior Mortgagee Policy (T-44) provides limited coverage to lenders on second mortgages. When a junior home equity loan provides for a variable rate of interest, this endorsement provides additional coverage to the lender so that the insured lien is not invalid, unenforceable, and there will be no loss of priority due to provisions providing for a change in the rate of interest.