Marketable title to the project must be vested in the mortgagor as of the date the mortgage is filed for record.
Title evidence for the Commissioner's examination shall include a lender's title insurance policy, which title policy provides survey coverage based on a survey acceptable to the title company and the Commissioner; or as the Commissioner may otherwise require, in accordance with terms, conditions and standards established by the Commissioner.
Endorsement of the credit instrument for insurance shall evidence the acceptability of title evidence.
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