Escrow & Title
What is a 'closing protection letter' in Nevada title transactions?
AA letter from the seller promising to protect the buyer at closing
BA document from the title insurance underwriter protecting the lender and/or buyer against losses caused by the title agent's theft, fraud, or errors during the closing✓ Correct
CA letter from NRED approving the closing
DA letter from the broker confirming the transaction will close
Explanation
A closing protection letter (CPL) is issued by the title insurance underwriter to the lender (and sometimes the buyer) indemnifying them against losses caused by the actions of the title agent in conducting the closing, such as theft of funds or failure to follow lender instructions.
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