DE Balloon (FNMA) Endorsement DTIRB-01

STEWART TITLE GUARANTY COMPANY

ENDORSEMENT

Attached to and made a part of Policy Number                                       File Number

Company insures the insured mortgagee against loss or damage by reason of:

1.       The invalidity or unenforceability of the lien of the insured mortgage resulting from the provisions therein which provide for a Conditional Right to Refinance and a change in the rate of interest as set forth in the Mortgage Rider.

2.       Loss of priority of the lien of the insured mortgage as security for the unpaid principal balance of the loan, together with interest thereon, which loss of priority is caused by the exercise of the conditional Right to Refinance and the extension of the loan term to the New Maturity Date set forth on the Rider and a change in the rate of interest, provided that all the conditions set forth in paragraphs 2 and 5 of the Balloon Mortgage Rider have been met, and there are no other liens, defects, and encumbrances, or other adverse matters affecting title arising subsequent to Date of Policy.

This endorsement does not insure against loss or damage based upon (a) usury or (b) any  consumer credit protection or truth in lending law or (c) bankruptcy.

This endorsement is made a part of the Policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto.  Except to the extent expressly stated, it neither modifies any of the terms and provisions of the Policy and any prior endorsements, nor does it extend the effective date of the Policy and any prior endorsements, nor does it increase the face amount thereof.

IN WITNESS WHEREOF,the Company has caused this endorsement to be issued and become valid when signed by an authorized officer or licensed agent of the Company.

STEWART TITLE GUARANTY COMPANY

By:                                                                  

      Authorized Officer or Licensed Agent