CPL - Closing Protection Letter
The definition of mortgage term: Closing Protection Letter
A Closing Protection Letter is a contract between the lender and the title company that protects the lender should the closing agent make and error or participate in fraudulent and/or negligent activities. The title insurance company will step in if circumstances arise and cover all necessary remedial funds to the lender.
Go back to the Mortgage Terms page to learn more!
No Similar Terms