WTF is a Closing Protection Letter (CPL)?

Photo by Engin Akyurt

The Closing Protection Letter protects the lender and/or the buyer — the insured party — if there is misconduct by the closing agent. It’s a contract between a title insurance company and a lender. The protection is for the actual loss of funds incurred due to the closing agent’s misconduct.

The CPL explains the requirements for a claim and the conditions needed to be met. It will also…

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Jeffrey Loyd

Jeffrey Loyd

163 Followers

Licensed Mortgage Lender — CA, CT, FL, NJ, PA & TX. For today’s rates: https://getarate.com/jeffrey-loyd/. NMLS ID: 410097