Posted by LawrenceOK on 9/26/06 9:53am
Msg #148511

Fax backs and the GLB Act

Now think about it. Many of us know that the majority of the fax back requests come form SS's and not the TC's. Many SS's have stated on this and other boards that they rarely ever see the documents because "they come straight from the TC to you". In order to conform with certain TC's standards of handling the borrowers sensitive information, should we not be requiring prof of background checks for these SS's. After all, we sure don't want the borrowers sensitive information falling into the wrong hands. Just something to think about.

Reply by Bonnie_CO on 9/26/06 10:01am
Msg #148517

Good point! Maybe we should send out letters to SS saying that prior to sending faxbacks we will need to run a background check on all SS employees.

IF what they are saying about the GLB is true, wouldn't WE be the ones with our tails in the ringer if we sent faxbacks in and someone at the SS used the personal info on the docs?

Reply by Poppy on 9/26/06 11:02am
Msg #148533

True... It also begs the question. Is it kosher to be faxing someone's private confidential information in the first place. I've often wondered if edocs were kosher with the GBL Act in the first place. (requirements for secured transmission, secured websites and such) I guess we'll have to stay tuned to find out how things pan out.

Reply by Kurt Gross on 9/26/06 2:43pm
Msg #148587

Poppy,

If you raise the question about whether docs should be faxed or emailed to SS, or anyone, then the biggest potential for misuse would lead back to the Notary.

Maybe this is a sleeping dog that we should let lie.

Kurt
GrossInternational.com

Reply by Poppy on 9/26/06 4:26pm
Msg #148602

You might be right Kirt. I guess it depends on how you look

at it.

It could help thin the masses of NSA's a little and perhaps weed out those who are in it for the quick buck.
If we as NSA's are expected to adhear to the guidelines of the GLB act, then it would require a whole new level of NSA. It would require us to have a solid plan for our business that includes having a policy manual regarding the steps we take to safeguard our customers sensitive information. It would require that those at each step along the way adhear to the standards and guidelines set in place by the GLB act. We (NSA'S) would have to consider how we transport the docs via computer (encryption) we would have to consider how we handle the docs while in transport to and from the signing, etc. (are they kept locked up or on the front seat) We would have to take into consideration the validity of faxing documents via a standard phone line. When alternative methods exist and are safer. Etc. Etc.
My point is that it may require more than the average $50.00 NSA would be willing to offer.

**** Not sure why you think the biggest potential for misuse would be the notary. The potential for misuse runs the gamet from LO's to LO assistants, processors, receptionist, etc.
If all who are involved and have their hand in the pot are held to the same standards for safeguarding the sensitive information of consumers there will be less likelyhood of a breach. Our profession would gain IMO new respect and a higher level of professionalism. The way it stands know it makes no sense to hold the lender accountable but not title, hold title responsible but not the signing service, hold the signing service reponsible but not the notary, hold the LO responsible but not the processor etc.
The string of potential breaches is endless when all are not held to the same standard.

I know a notary who constantly leaving borrowers file on the front seat of her car with the window down, on the desk at work while she's at lunch etc. It pisXes me off. (sorry) I've spoke to her serveral times and always get the same response that's not my problem. I don't get paid enough.
I'm sure we all know of someone who could care less about the sensitive information we are entrusted with.
The good NSA's already have their own standards for safeguarding the sensitive information of customers in place.
This would put everyone on a level playing field and in my opinion everyone would be better off.

P.S. None of what I said is in anyway promoting the NNA and their silly new program that is just putting a pretty little pink bow on a serious problem and calling it fixed.

"smiles" Poppy