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Closing Protection Letter [CPL]

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Closing Protection Letter also known as CPL is a contract between a title insurance underwriter and a lender.

In this agreement, the title underwriter agrees to indemnify the lender for actual loss of funds incurred within a specific transaction due to misconduct by the closing agent.

The Closing Protection Letter explains the requirements for qualifying, the conditions that must be met, and what situations are excluded from coverage.

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