Short Form Title Insurance Policy


Short form policies/mortgagee’s certificates of title insurance, issued in combination with master title insurance policies, are acceptable for loans purchased by Pennymac if the:

  • Title insurer satisfies Pennymac's insurer rating specifications;
  • Title insurer and all branches, affiliates, or agents of the title insurer are properly licensed and authorized to do business in the jurisdiction in which the mortgaged property is located and the policies are authentically issued in that jurisdiction;
  • Standard ALTA policy forms (the Short Form Residential Loan Policy or the Master Residential Loan Certificate) must be used.  Such forms must be the 1992 version or a more recent version, which contains the updated creditor’s rights exclusion statement; and
  • Master policy insures against loss due to survey-related matters;
  • For a refinanced mortgage loan, substantiation of the current names in title must be provided.