Final answer:
The correct answer is simultaneous issue.
Step-by-step explanation:
The correct answer to the question is A) Simultaneous issue.
When the mortgagor and mortgagee title insurance policies are issued at the same time, it is referred to as simultaneous issue. This means that the title insurance policies for both the borrower (mortgagor) and the lender (mortgagee) are obtained concurrently.
This practice is common in real estate transactions to streamline the process and ensure both parties are adequately protected. By obtaining the policies simultaneously, it reduces costs and can provide more efficient service to the parties involved.