Mortgage lenders and servicers

ALTA Introduces New CPL Form with Major Potential Negative Implications for the Financial Services IndustryIn April, we posted about the significant protection afforded mortgage lenders and servicers as part of closing protection letters including recent judicial interpretations providing critical indemnity to lenders for “actual loss” in relation to closing instruction violations and fraud. Recently, we learned that title insurers are issuing a new version of the (Closing Protection

insurance word cloudMortgage lenders and servicers frequently consider potential indemnity due under finally issued lender’s title insurance policies and strive to submit timely claims when a covered defect arises. These same parties should also consider whether additional indemnity is due as part of a separately issued closing protection letter (CPL), also known as an “insured closing services