Closing Protection Letters in Indiana

Overview

Closing Protections Letters ("CPLs") are authorized to be issued in Indiana. For insured residential real estate transactions, CPLs must issued to any borrowers, buyers, lenders, and/or sellers in a given transaction. The filed rate for WFG 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 Underwriting Bulletin IN 2013-02

Compliance

CPLs are required to be issued in any residential real estate transaction for which a title insurance policy is being issued. A CPL must be issued to each party in the transaction including buyers, sellers, borrowers, and lenders.

Disclosures

N/A.

Forms

Disclosure Form

N/A.

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

Rates

State Mandated Rates

The state does not mandate any rates. The rate used must be filed and approved by the Commissioner of Insurance. [1]

WFG Rates

• Buyer: $25.00
• Seller: $25.00
• Lender: $25.00
• Borrower: $25.00

Remittances

• 100% of any CPL charge must be remitted to the Underwriter.

Notes

• Notes:
• Rate Checked: 01-23-2018
• By: Debbie Thoms
• Manual Date:

Cross-References

• Indiana
• Closing Protection Letters