Closing Protection Letter (CPL)
A CPL is a document sometimes used in other states to allocate certain closing-agent risks to the title insurer; in NY, DFS guidance has historically limited the scope of CPL-like instruments and emphasizes title insurers' authority constraints and the use of agent authorization concepts rather than broad CPL coverage.
- Where it applies
- New York State
- When it comes up
- Closing risk allocation
- Property types
- Lender closings using title agents
In practice
Because NY treatment differs from many states, multi-state operators treat CPL availability and scope as jurisdiction-specific configuration, not a default assumption.
Related terms
Title insureragency authoritysettlement agentinsured closing risk.
Risk and Liability Terminology
- Closing Wire Fraud / Business Email Compromise (BEC)
- Deed Fraud
- Directors and Officers (D&O) Insurance
- Errors & Omissions (E&O) Insurance
- Force Majeure
- Indemnification
- Limitation of Liability
- Liquidated Damages
- Notice of Recorded Document (NRD) Monitoring
- Recording Gap Risk
General information, not legal, tax or financial advice.