Difference between revisions of "Closing Protection Letters in Indiana"
From WFG Wiki
Davidjenkins (talk | contribs) (→Overview) |
Davidjenkins (talk | contribs) (→Sources) |
||
| Line 3: | Line 3: | ||
===Sources=== | ===Sources=== | ||
| − | + | The issuance of Closing Protections Letters is permitted under [https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-7-3-22.html Section 27-7-3-22] of the Indiana Code. This code section also defines the content, uses, and minimum fees for a CPL in Indiana. | |
| − | + | ||
| − | * [http://wfgunderwriting.com/download/indiana/bulletins/WFGNTIC%20IN%20UW%20Bulltin%20IN2013-02%20Indiana%20CPL%20Rate-%20Rates%20Form%20Filings%20Effective%20July%201,%202013.pdf WFG Bulletin IN 2013-02] | + | * See also [http://wfgunderwriting.com/download/indiana/bulletins/WFGNTIC%20IN%20UW%20Bulltin%20IN2013-02%20Indiana%20CPL%20Rate-%20Rates%20Form%20Filings%20Effective%20July%201,%202013.pdf WFG Bulletin IN 2013-02] |
===Compliance=== | ===Compliance=== | ||
Revision as of 07:33, 21 July 2018
Contents
Overview
Closing Protections Letters ("CPLs") are authorized to be issued in Indiana. For insured residential real estate transactions, the must issued to any borrowers, buyers, lenders, and/or sellers in a given transaction. The charge is $25 per letter, not per transaction.
Sources
The issuance of Closing Protections Letters is permitted under Section 27-7-3-22 of the Indiana Code. This code section also defines the content, uses, and minimum fees for a CPL in Indiana.
- See also WFG Bulletin IN 2013-02
Compliance
Disclosures
Forms
Disclosure Form
CPL Form
- Latest CPL Form Filing Date: 01-23-2018
- Filing Requirements: Filing Required after adoption of Rating Bureau
- Current From: 3173600
- ALTA Version: 2015
Dual Agent CPLs
Rates
State Mandated Rates
- Buyer:
- Seller:
- Lender:
- Borrower:
WFG Rates
- Buyer: $25.00
- Seller: $25.00
- Lender: $25.00
- Borrower: $25.00
Remittances
Notes
- Notes:
- Rate Checked: 01-23-2018
- By: Debbie Thoms
- Manual Date:
