Closing protection letters (“CPL”) protect lenders and owners against loss of lien priority or vesting of title due to an Iowa Title Guaranty closer’s mishandling of settlement funds or failure to follow closing instructions.
Only approved participating attorneys, abstractors and independent closers are authorized to issue closing protection letters.
Contact your settlement agent and request that a closing protection letter be added to your Iowa Title Guaranty commitment.
The coverage provided under a closing protection letter is available with a lender or owner commitment at no additional cost.
No, closing protection letters are only available prior to closing.