Closing Protection Letters

WFG does not issue CPLs to lenders or any other party for the acts of a non-agent with two exceptions:

1. Illinois - There is a quasi-insurance type escrow company called an “independent escrowee”. Under the statute, the IE has to meet the same financial requirements as a title insurance underwriter ($1,000,000 in liquid assets/reserves) and they are not required to issue CPLs like an underwriter does for their agents. There’s only 1 IE in Illinois and it’s owned by a WFG agent. WFG issues CPLs for the IE pursuant to a vendor’s services agreement that allows WFG to audit the IE’s accounts, etc.
2. Approved Attorneys in states where that’s custom/practice pursuant to a vendor’s services agreement.

WFG could arguably issue a CPL pursuant to a vendor’s services agreement, but there’s not a lot of upside for WFG to do so.

In addition to the above, there may be regulatory issues in some states that would prevent WFG from issuing a CPL on behalf of a non-agent.

Alabama	Illinois	Montana	Rhode Island
Alaska	Indiana	Nebraska	South Carolina
Arizona	Iowa	Nevada	South Dakota
Arkansas	Kansas	New Hampshire	Tennessee
California	Kentucky	New Jersey	Texas
Colorado	Louisiana	New Mexico	Utah
Connecticut	Maine	New York	Vermont
Delaware	Maryland	North Carolina	Virginia
District of Columbia	Massachusetts	North Dakota	Washington
Florida	Michigan	Ohio	West Virginia
Georgia	Minnesota	Oklahoma	Wisconsin
Hawaii	Mississippi	Oregon	Wyoming
Idaho	Missouri	Pennsylvania	US Territories