04
Aug 2014

CPL for PA Title Insurance Increase

By admin

Please be advised that the Pennsylvania Department of Insurance has approved an increase to the Closing Service Letter (CPL) CPLFee which will now be $125.00 on all Settlement Statements in connection to PA Title Insurance.  This increase is effective for closings taking place on or after September 1, 2014.  Please be reminded that the protections of the letter when issued flow to the benefit of  the lender and/or the purchaser on a transaction.  Additionally, the charge is made on a specific transaction basis.  Thus, if we your PA Title Insurance provider issue a letter on one transaction to the purchaser, a first mortgage lender and a second mortgage lender the charge remains $125.00 even though three separate letters were issued.

A copy of the revised Pennsylvania Title Insurance Rate Manual will be available on our website.

If you have any questions, please do not hesitate to contact an officer of the Company.

 

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