what you need to know about closing protection letters (final)
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TRANSCRIPT
- 1. Presented by
Closing Protection Letters and Title Insurance Coverage
2. Caticspolicy of title insurance (the policy), and
Catics closing protection letter (CPL) which is sometimes called an
insured closing letter (ICL)
You may not realize that CATICs insureds are protected by two
sources of recovery:
3. Coverage under the title insurance policy relates to the quality
of the borrowers title tothe real estate collateral offered to
guarantee repayment of the mortgage loan.
The title insurance policy provides that the insured lenders
mortgage is:
- a valid instrument
4. recorded in the correct lien priority.