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closing protection letter

   Also found in: Acronyms 0.01 sec.
closing protection letter

Additional title insurance coverage insuring the lender against losses caused by errors or infidelity of the closing attorney or the closing agents in the handling of the transaction.



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In these January recoveries, for example," said Thomas, "one case was against a broker based on strong language in the broker agreement, another against a title company through the closing protection letter, and another against an appraiser under an Errors & Omissions policy.
 
 
 
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