The Docket: Court Rules CPL Leaves Underwriter Liable for Agent’s Action

June 18, 2013

A U.S. district court ruled an underwriter didn't have an to obligation to Bank of America under the policy. However, the closing protection letter promised to compensate the lender for any problems that arose from the closing agent’s failure to properly apply the funds, as set forth in the closing instructions and the title insurance commitment. Read on to learn why the ruling creates more uncertainty for the industry.

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