I'm a little light on documentation experience and was reading through allregs regarding selling converted ARMs to FNMA.

"The title insurance policy (or any endorsements to it) will not be impaired because of the option to convert to a fixed rate mortgage or the actual conversion. If the original title policy didn’t include the ARM endorsements FNMA requires an indemnification agreement to protect against any future title disputes related to the years in which the mortgage was an adjustable-rate mortgage."

What is included in an indemnification agreement and what is its purpose?