- September 03, 2010
- All Offices Issuing Policies Covering Iowa Property
- Closing Protection Letter and Charge
Commencing October 1, 2010, the sole form of Closing Protection Letter (CPL) available on https://www.stewarticl.com/ICL.asp?/default_stg.asp will be the Stewart Title Guaranty Company Single Transaction Letter.
The CPL may be issued to a lender, purchaser, or lessee.
The CPL is designed to be issued for the specific transaction and is not a "blanket" CPL.
A separate CPL should be issued on each file or transaction.
The charge for the CPL will be $25 to be remitted to Stewart Title Guaranty Company for lender or borrower, and $50 for seller.
Please contact Sarah Jackson or Regina Jones if you are asked (1) to modify the CPL, (2) to issue a different CPL, (3) to name another party (besides a lender, lessee or purchaser), or (4) to reflect an amount for the transaction that exceeds $5 million.
If you have questions relating to this or other bulletins, please contact your local underwriting personnel or Stewart Legal Services.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.