As a resident of the state of Ohio, you have the option to purchase additional insurance coverage against escrow loss in your upcoming refinance. The details and rates for this coverage can be found below.
If you would like to purchase this optional coverage, please fill out the form on this page within 10 days of receipt of the email that brought you here. The fee will be included in your closing costs.
Closing Protection Coverage
Although substantially similar coverage is already in place at no additional cost to you to protect your loan closing transaction funds, you may choose to purchase closing protection coverage.
This optional closing protection coverage indemnifies you against the loss of settlement funds resulting from any of the following acts:
- Theft, misappropriation, fraud, or any other failure to properly disburse settlement, closing or escrow funds; and
- Failure to comply with any applicable written closing instructions, when agreed to by the Licensed Agent
Closing Protection Costs
The premium for this coverage is $40.00 for the lender; $20.00 for the borrower; and $20.00 for any other applicant for title insurance. In no case shall the premium be less than $40.00 for this coverage in any transaction.
