A Closing Protection Letter (also known as Insured Closing Letter, CPL, or ICL) issued by the title insurance company which sets out the company’s responsibility for negligence, fraud, and other errors that might be committed by a closing agent. In practice, almost every lender requires a CPL for each closing.
As long as we have all of the relevant mortgagee information, closing protection letters, along with title binders, are issued the same day that the title exam is completed. In most cases this is within two to four days of ordering title.