Closing Protection Letters in Missouri

Overview

Closing Protection Letters are mandatory in Missouri for any insured transaction. They can only be issued on behalf of the agent insuring the title which prevents the issuance of dual CPLs unless one agent is handling a loan policy and the other is handling an owner's policy for the same transaction, which is quite common. There is one form for the lender and/or buyer and a second form for any seller. The fee for each letter is $25. There is no CPL for borrowers, so a refinance CPL would only be issued the lender.

Compliance

381.403

Forms

CPL Form

• Latest CPL Form Filing Date: 09-01-2015
• Filing Requirements: (rate & form to be filed)
• Current From: 3172529, 3172429
• ALTA Version:

Dual Agent CPLs

Unavailable. Although not expressly prohibited, Missouri requires that the only agent that can handle the closing is the one that is also issuing the commitment and policy. MO Rev Stat § 381.022.5.

Rates

State Mandated Rates

• Buyer:
• Seller:
• Lender:
• Borrower:

WFG Rates

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

Notes

• Notes:
• Rate Checked: 05-17-2016
• By: Sam Shellhaas
• Manual Date:

Cross-References

• Missouri
• Closing Protection Letters