Thursday, April 19, 2012

query: what does cpl stand for in a title company

CPL stands for Closing Protection Letter which is also known as a Closing Services Letter.  This letter is an extension of title insurance over the written instructions given to the title agent or attorney and also over the monies being remitted on behalf of the party to whom the letter is issued.

Most mortgage lenders require a CPL or CSL.  The form varies by state with some allowing the title underwriter to issue one per lender and some requiring that the letter be case specific.

In Pennsylvania there is a $75 charge for the issuance of a Closing Services Letter.  The CSL is case specific and is covers both the mortgage lender and the homebuyer.

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