FEATURED   THREE POLICY Q & A's By Patricia P. Jones, Vice President and Associate General Counsel   Charging for CPL Prohibited Q. In mortgage transactions being closed by title agents, it is common to provide lenders with Insured Closing Protection Letters issued by the underwriter. The form of the coverage is promulgated in Florida. The Fund has heard reports that some title agents in non-RESPA transactions include a charge for the CPL on the closing statement. Is this proper? A. No. There is no basis for the agent to receive a payment for the CPL. The charge to the underwriter for issuing the CPL is already part of the overall promulgated rate. Including such an unauthorized charge exposes the underwriter to liability as well as the title agent, regardless of whether the transaction is subject to RESPA, and is prohibited. Read More   2011 Mission Report - It’s a Jungle Out There   Every jungle has its own set of laws and understanding these laws can make all the difference. In this guide, we offer you five laws that we believe will not only help us survive, but enable us all to thrive like never before. View it here

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