Difference between revisions of "Closing Protection Letters in Georgia"
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===Sources=== | ===Sources=== | ||
| + | See [https://law.justia.com/codes/georgia/2014/title-33/chapter-7/section-33-7-8.1 GA Code 33-7-8.1]. | ||
===Compliance=== | ===Compliance=== | ||
| Line 18: | Line 19: | ||
====Dual Agent CPLs==== | ====Dual Agent CPLs==== | ||
| + | This is permitted and quite common when one agent is handling title and the other is handling the closing. | ||
===Rates=== | ===Rates=== | ||
====State Mandated Rates==== | ====State Mandated Rates==== | ||
| − | * Buyer: | + | There are no state mandated rates. The filed manual rate must be followed. |
| − | * Seller: | + | * Buyer: N/A |
| − | * Lender: | + | * Seller: N/A |
| − | * Borrower: | + | * Lender: N/A |
| + | * Borrower: N/A | ||
====WFG Rates==== | ====WFG Rates==== | ||
| − | * Buyer: $ | + | There is a separate fee of $50 for each party that receives a CPL: |
| + | * Buyer/Borrower: $50.00 | ||
* Seller: $50.00 | * Seller: $50.00 | ||
| − | * Lender: $ | + | * Lender: $50.00 |
| − | |||
| − | === Remittances=== | + | ===Remittances=== |
| + | The entire amount collected must be remitted to the WFG and cannot be split with the agent per state law. [https://law.justia.com/codes/georgia/2014/title-33/chapter-7/section-33-7-8.1 GA Code 33-7-8.1(d)]. | ||
===Notes=== | ===Notes=== | ||
Latest revision as of 11:31, 24 January 2019
Contents
Overview
Sources
See GA Code 33-7-8.1.
Compliance
Disclosures
Forms
Disclosure Form
CPL Form
- Latest CPL Form Filing Date: 07-29-2014
- Filing Requirements: Rate Only
- Current From: 3172900
- ALTA Version: 2015
Dual Agent CPLs
This is permitted and quite common when one agent is handling title and the other is handling the closing.
Rates
State Mandated Rates
There are no state mandated rates. The filed manual rate must be followed.
- Buyer: N/A
- Seller: N/A
- Lender: N/A
- Borrower: N/A
WFG Rates
There is a separate fee of $50 for each party that receives a CPL:
- Buyer/Borrower: $50.00
- Seller: $50.00
- Lender: $50.00
Remittances
The entire amount collected must be remitted to the WFG and cannot be split with the agent per state law. GA Code 33-7-8.1(d).
Notes
- Notes:
- Rate Checked: 01-24-2019
- By: D. Jenkins
- Manual Date: May 15, 2018
