Closing Protection Letters in Rhode Island - Revision history

Davidjenkins: /* WFG Rates */

2018-05-21T19:59:08Z

‎WFG Rates

Davidjenkins: /* Sources */

2018-05-21T19:58:33Z

‎Sources

Davidjenkins: /* State Mandated Rates */

2018-05-21T19:58:00Z

‎State Mandated Rates

Davidjenkins: /* Rates */

2018-05-21T19:56:14Z

‎Rates

Davidjenkins: /* Sources */

2018-05-21T19:51:21Z

‎Sources

Davidjenkins: Created page with "===Overview=== ===Sources=== ===Compliance=== ====Disclosures==== ===Forms=== ====Disclosure Form==== ====CPL Form==== * Latest CPL Form Filing Date: 03-30-2015 * Filing..."

2018-04-12T01:35:31Z

Created page with "===Overview=== ===Sources=== ===Compliance=== ====Disclosures==== ===Forms=== ====Disclosure Form==== ====CPL Form==== * Latest CPL Form Filing Date: 03-30-2015 * Filing..."

New page

===Overview===

===Sources===

===Compliance===

====Disclosures====

===Forms===

====Disclosure Form====

====CPL Form====
* Latest CPL Form Filing Date: 03-30-2015
* Filing Requirements: Form & Rate Filing Required Section 27-2.6-6
* Current From: WFG 4-2-14
* ALTA Version:

====Dual Agent CPLs====

===Rates===

====State Mandated Rates====
* Buyer:
* Seller:
* Lender:
* Borrower:

====WFG Rates====
* Buyer: $25.00
* Seller: N/A
* Lender: $25.00
* Borrower: $25.00

=== Remittances===

===Notes===
* Notes:
* Rate Checked: CONFIRM
* By:
* Manual Date:

===Cross-References===
* [[Rhode Island]]
* [[Closing Protection Letters]]

@@ Line 27: / Line 27: @@
 ====WFG Rates====
-Although CPLs can be issued to buyer, borrower, and/or lender, the fee is $25 per transaction.  Therefore a refinance or a purchase with a loan would allow the issuance of separate CPLs to a lender and the borrower or buyer, respectively, but the fee would be $25 in the aggregate and not a separate $25 for each CPL.
+Although separate CPLs can be issued to buyer, borrower, and/or lender, the total fee is $25 per transaction.  Therefore a refinance or a purchase with a loan would allow the issuance of separate CPLs to a lender and the borrower or buyer, respectively, but the fee would be $25 in the aggregate and not a separate $25 for each CPL.
 * Buyer: $25.00 per transaction

@@ Line 2: / Line 2: @@
 ===Sources===
-The issuance of Closing Protections Letters is permitted under Section 27-2.6-6 of the Rhode Island General Laws [https://law.justia.com/codes/rhode-island/2014/title-27/chapter-27-2.6/section-27-2.6-6]. This section also defines the content, uses, and minimum fees for a CPL in Rhode Island.
+The issuance of Closing Protections Letters is permitted under Section 27-2.6-6 of the Rhode Island General Laws [https://law.justia.com/codes/rhode-island/2014/title-27/chapter-27-2.6/section-27-2.6-6].
 ===Compliance===

@@ Line 24: / Line 24: @@
 ====State Mandated Rates====
-There are no state mandated rates.  The fee must be filed and approved by the commissioner of insurance pursuant to Rhode Island General Law 27-2.6-16.
+There are no state mandated rates.  The fee must be filed and approved by the commissioner of insurance pursuant to Rhode Island General Law 27-2.6-16.  See Section 27-2.6-6(c)(2).
 ====WFG Rates====

← Older revision		Revision as of 19:51, 21 May 2018
Line 2:		Line 2:

	===Sources===		===Sources===
		+	The issuance of Closing Protections Letters is permitted under Section 27-2.6-6 of the Rhode Island General Laws [https://law.justia.com/codes/rhode-island/2014/title-27/chapter-27-2.6/section-27-2.6-6]. This section also defines the content, uses, and minimum fees for a CPL in Rhode Island.

	===Compliance===		===Compliance===

@@ Line 21: / Line 21: @@
 ===Rates===
 ====State Mandated Rates====
-* Buyer:
+There are no state mandated rates.  The fee must be filed and approved by the commissioner of insurance pursuant to Rhode Island General Law 27-2.6-16.
 ====WFG Rates====
-* Buyer: $25.00
+Although CPLs can be issued to buyer, borrower, and/or lender, the fee is $25 per transaction.  Therefore a refinance or a purchase with a loan would allow the issuance of separate CPLs to a lender and the borrower or buyer, respectively, but the fee would be $25 in the aggregate and not a separate $25 for each CPL.
 * Seller: N/A
-* Lender: $25.00
+* Lender: $25.00 per transaction
-* Borrower: $25.00
+* Borrower: $25.00 per transaction
 === Remittances===