Posted by Charm_AL on 3/7/05 10:01am
Msg #24083

just a thought...

it just occured to me that when I make an online purchase, it is always through a secure site marked with a little gold lock for security.

How is the borrower's information protected when the SS and lenders email their docs to us? There's a tremendous amount of personal information there. Just wondering

Reply by Dave_CA on 3/7/05 10:14am
Msg #24090

You make a good point. Basically if they are sending the docs as .doc or .pdf files there is no real security. I have spoken with some escrow companies who believe that doing so is illegal and I believe they are correct. I expect it will take some time and additional education before all the docs will have to be sent using one of the programs that provide for encryption and strong authentication.
I'll be very interested to see what PAW and some of our other senior sages have to say

Reply by PAW_Fl on 3/7/05 10:30am
Msg #24091

Word docs can be somewhat protected. PDF docs can be encrypted and digitally signed to protect the content. However, it's a much bigger issue than just sending the docs to us. Lenders converse with title companies all the time using "open" email, which certainly isn't protected.

Even with document warehousing (VMPdelivers, SwiftView, etc.) the docs are sent "in the clear" which means anyone intercepting the traffic can get the borrowers information. The only protected means would be to used secure services, such as secure email, and secure servers, with encryption. Can you imagine the hassle of keying documents to the thousands of signing agents, signing services, title companies and lenders.

Whether or not it is "illegal" is up to the courts. However, I don't feel that the current method of transmitting the consumer data via the internet complies with GLB.

Reply by CarolynCO on 3/7/05 7:13pm
Msg #24202

This is a spinoff of the e-mail security or lack thereof. Once I print the docs, I put them on a zip disk (wiping them off my hard drive) until after the signing. I just want to get the docs off of my computer(s). If the signing goes okay and once I have the package shipped, then I wipe the docs off the zip. This method still doesn't do anything with *security* of getting the e-mails/docs to me, but I feel a little more secure.