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CLOSING PROTECTION LETTERS: WHAT IS (AND IS NOT) COVERED? 2007 JOHN C. MURRAY VICE PRESIDENT-SPECIAL COUNSEL FIRST AMERICAN TITLE INSURANCE COMPANY 30 N. BASALLY STREET CHICAGO, IL 60602 (312) 917-7218
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How to fill out closing protection letters what
How to fill out closing protection letters:
01
Begin by entering the date at the top of the letter.
02
Provide the name and contact information of the issuing company.
03
Include the name and contact information of the insured party.
04
Specify the property address and legal description.
05
Identify the lender involved in the transaction.
06
State the policy amount and effective dates.
07
List any special requirements or endorsements.
08
Sign and date the closing protection letter before sending it.
Who needs closing protection letters:
01
Lenders who want to protect their financial interests in a real estate transaction.
02
Title insurance companies that offer closing services to lenders.
03
Insured parties, such as buyers or sellers, who want to ensure a smooth and secure closing process.
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What is closing protection letters what?
Closing protection letters are a form of insurance that protects the lender or buyer against errors or fraud committed by the closing agent during the real estate transaction.
Who is required to file closing protection letters what?
The closing agent is required to file closing protection letters.
How to fill out closing protection letters what?
Closing protection letters are typically filled out by the closing agent and include details of the transaction and parties involved.
What is the purpose of closing protection letters what?
The purpose of closing protection letters is to provide protection and assurance to the lender or buyer in case of any errors or fraud during the closing process.
What information must be reported on closing protection letters what?
Closing protection letters must include details of the transaction, parties involved, and the coverage provided.
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