Posted by James H. Lissemore on 1/20/07 12:49pm
Msg #171834

Consumer Protection statement

This is Statement I have on my profile I send out to title companies

By accepting assignments I agree to comply with all Federal and State laws governing privacy of consumer
information in performing my duties as a Commissioned Officer (Notary Public) of New Jersey

F.B.I. Background Check Completed
New Jersey Requirement For Notary Commission
The State Treasurer may not appoint any person who has been convicted of a crime under the laws of any state or the United States, for an offense involving dishonesty, or a crime of the first or second degree.

Reply by LisaWI on 1/20/07 1:22pm
Msg #171836

In addition to this, how about a Consumer Privacy and Protection letter to signers of documents from us as a Notary Public/Signing Agents. Simply put they are the reason for this in the first place and IMO we should be responsible to let them know that we have full intentions of protecting their private information.

Reply by James H. Lissemore on 1/20/07 1:30pm
Msg #171838

Great Idea

Lisa
Great idea will incorporate that into my Notarty Disclosure i give to borrowers. Be happy to send you a copy of what I have been using,if you like.

Reply by LisaWI on 1/20/07 1:52pm
Msg #171843

Re: Great Idea--I have

a letter to borrowers that I provide to them at closing. I have been thinking about this Privacy Letter for some time now, it only makes good sense. If you put yourself in the signers shoes, it sheds a whole new light. If you would like to send it to me, that would be great, I would love to compare notes. Mine isnt original in its entirety. I did lots of research on the posts here and other places to get ideas and then personalized it to fit me and what I wanted to say. Probably one of the best choices Ive made in this biz. It eliminates unnecessary questions at signings.
Now I just need to create the Privacy Letter.

Reply by TRG_wy on 1/20/07 2:47pm
Msg #171847

Consumer Protection/Privacy Letter - great idea

Maybe this could be combined into one letter that we provide the signer along with their docs. I too have thought of this but haven't had time to sit down and draft one up.

If you have something that you are willing to share, I would be interest in a copy.

Reply by LisaWI on 1/20/07 3:36pm
Msg #171853

Re: Consumer Protection/Privacy Letter - great idea

I havent come up with anything yet. I was going to use different Privacy Letters that lenders and TC's use but tailor it to fit where the Notary Public fits into this. By stating how we are to protect our journal and its contents by our states notarial law is just one of the thoughts. In addition to this, the security measures one may take on their computers just for that reason is another. We do many things to accomplish this, its just not written down and given to the signer. And everyone probably has different ways of doing this. You can also go on FTC's website and read up on security measures you can take as a small business owner working for consumers if you dont feel you are protecting a consumers private information to the fullest. Sorry, dont have the link readily available.
There is a little truth to this whole thing of us being compliant to this Act. Its all about being responsible. And there are ways to show you are a responsible Notary Public and care about this situation. If we accomplish this on our own, we prove its for the good of the public and that we care, not for the purpose of lining our pockets. Essentially, its everything a Notary Public is. A trusted individual.

Reply by ZeeCA on 1/20/07 3:52pm
Msg #171854

Re: Consumer Protection/Privacy Letter - great idea BUT

If you are going to add anything w/ a legal conotation to it you might be best served having some sort of legal person eyeball it to make sure it does not create any sort of a liability issue from any of the statements.....

jmo ********* I am not a lawyer but did date one or two....

Reply by LisaWI on 1/20/07 4:02pm
Msg #171856

Re: Consumer Protection/Privacy Letter - great idea BUT

Dang it Zee, I had to get out the dictionary for that one. LOL. Yes, I can agree to a point on that one. Definately something to think about. The last thing I would want to do is make a statement that would harm my business. I think my thought process is right, but just a matter of executing it correctly is the key. Thanx for the sound advice.

Reply by PAW on 1/20/07 4:09pm
Msg #171857

WIP ...

<<company> respects the privacy of every individual who is our client or customer. This privacy statement provides notice of the standards and terms under which <<company>> protects the privacy of information supplied by clients and vendors to us. This privacy statement provides notice of our information collection practices and of the ways in which your information may be used. This policy may change from time to time.

What information does <<company>> collect and how is it used?

A. Personally-Identifiable Information:
<<company>> typically receives specific data about its clients and customers only when such information is provided voluntarily by you to our clients and vendors, such as when you provide application information for obtaining a mortgage. When you provide personally-identifiable information to <<company>>, it will be used only to fulfill a specific request, i.e., closing of your loan. <<company>> will not sell or trade your personally-identifiable information unless we are authorized or legally required to do so, or in the case of imminent physical harm to the signing agent or others.

B. Non Personally-Identifiable (Generic) Information:
In general, <<company>> gathers some generic information automatically. Generic information does NOT reveal the identity of the client or customer. It usually includes information about your home address, sales and tax records (available from public sources). <<company>> gathers this information for the limited purpose of determining customer service and client needs.

C. Exceptions and Limitations:
Notwithstanding the foregoing and in compliance with applicable laws, <<company>> does:
(I) Cooperate fully with state, local, and federal officials in any investigation relating to any content (including personal or private electronic communications transmitted to <<company>> or purported unlawful activities of any user of our service.
(II) Take reasonable measures to protect its proprietary rights. For the limited purposes of accomplishing such cooperation and measures and in compliance with applicable laws, <<company>> may be required to disclose personally identifiable information. In addition, <<company>> may elect to monitor the areas of communication of any kind.
(III) Satisfy any law, regulation, or government request.
(IV) Protect the rights or property of <<company>> or others. <<company>> reserves the right to sell or transfer your information (including, but not limited to name, address information, and other information you provided to <<company>> to a third party that concentrates its business in the Mortgage, Financial, Title, or Real Estate Industries and agrees to be <<company>>'s successor in interest with regard to the maintenance and protection of information collected and maintained by <<company>>.
(V) Agree to the obligations of this policy statement.

Reply by LisaWI on 1/20/07 4:30pm
Msg #171859

Re: OK PAW, I fold, what is WIP?? n/m

Reply by ZeeCA on 1/20/07 4:54pm
Msg #171861

work in progress n/m

Reply by LisaWI on 1/20/07 5:01pm
Msg #171865

Re: work in progress

Ahhh......Paul is way ahead of the game in other words.

Reply by John_NorCal on 1/20/07 5:05pm
Msg #171866

Re: WIP ... Re: Article IV

**(IV) Protect the rights or property of <<company>> or others. <<company>> reserves the right to sell or transfer your information (including, but not limited to name, address information, and other information you provided to <<company>> to a third party that concentrates its business in the Mortgage, Financial, Title, or Real Estate Industries and agrees to be <<company>>'s successor in interest with regard to the maintenance and protection of information collected and maintained by <<company>>.**

"reserves the right to sell or transfer your information......................................."

As a consumer I would be raising my eyebrows at this part. Am I missing something here?

Reply by Dennis D Broadbooks on 1/20/07 5:16pm
Msg #171868

Great Minds Think Alike...

...as that was exactly the first thing which jumped out at me. Perhaps Paul has a logical explanation & knowing him like I do...he probably does.

Reply by Gerry_VT on 1/20/07 6:25pm
Msg #171873

Re: Great Minds Think Alike...

This looks like it allows the company to sell out to another company if the buying company agrees to protect information in the same way as the selling company. In many businesses this is common; it isn' unusual for physicians or lawyers to sell their practices. I don't know if this really applies to notaries.

Reply by PAW on 1/20/07 8:18pm
Msg #171891

Re: Great Minds Think Alike...

Remember, we're more than just notaries. Also, the business model that I have covers more than just notary and signing agent work.

Reply by PAW on 1/20/07 8:15pm
Msg #171890

Re: WIP ... Re: Article IV - important phrase

... and agrees to be <<company>>'s successor in interest with regard ...

The sale and transfer of information is limited to <<company>>'s successor in interest. Thus, if I sold my business and assets to another company, they (my successor) may inherit the client's information if necessary.

Reply by Dennis D Broadbooks on 1/20/07 5:26pm
Msg #171869

"imminent physical harm...

...to the signing agent or others."

Now that's an addition to a privacy statement I never would've dreamed of creating. Not a criticism, Paul, just a fact. You've got a great WIP!

BTW, should we really consider adding all those smiley faces to our privacy statement, Paul?

Reply by MikeC/NY on 1/20/07 7:38pm
Msg #171883

Overkill?

I'm not sure we need to get this deep into the legalese... Basically, here's what you want to tell the borrower:

1) During this transaction, I may become aware of some of your personal and financial information.

2) I will not share this information with anyone else, and I will not keep a copy of this information after the transaction is completed.

That's it - you've said it all, and you're done. Am I missing something??

Reply by ZeeCA on 1/20/07 8:10pm
Msg #171889

Re: Overkill? yes and

I truly think if we get too much into legal stuff we become UPL esp if you have not had a legal person look it over.

remember the KISS principle and apply it here

do not complicate things

jmo

Reply by MichiganAl on 1/21/07 2:52am
Msg #171907

I'm with you on this one, Mike.

I think we've all been reading too many mortgage documents drawn up by attorneys trying to justify their existence. Talk about using ten dollar terms when a couple of ten cent words will do. To me, this is just another example of adding infinite layers of complexity to a transaction that need not be so complex. In about 4000 transactions, I've had privacy concerns come up once. All it took was for me to remind them that as a notary public, I am an officer appointed by the Secretary of State and there are strict guidelines regarding my conduct. If that doesn't work, I figure I'll just show them my N-N-A membership card (wink, wink).

Reply by Stamper_WI on 1/21/07 7:05am
Msg #171911

Re: Overkill?

I always subscribe to the KISS principle. Mikes is simple but I would add something the the effect of the information recorded in my journal is held secure unless subpoenaed.

Reply by sue_pa on 1/21/07 7:43am
Msg #171914

Re: Overkill?

Agree. Not one borrower has ever asked me about privacy issues - and I've done A LOT of loans. I don't provide the borrower with ANYTHING. I have no DIRECT link to the borrower. Should my clients ever require something, that would be a different story - and I'm pretty sure they'd provide us with a document to sign and include in the package - not let it up to us to willy nilly compose our own forms.

Reply by jojo_MN on 1/21/07 9:12am
Msg #171917

Re: Overkill?

I've only had a few borrowers ask. I've told them that all documents are overnighted to the title company that day or first thing in the morning and that until that time they are kept in a secure area. When asked, I tell them that my journal is kept in a secure, locked location at all times that it is not in my personal possesion.

Reply by John_NorCal on 1/21/07 9:46am
Msg #171922

Re: Overkill? I agree keep it simple.....

I list something on my website to let people know that I value and respect their privacy. Simple terms, understandable and to the point (I hope!) I believe in KISS too.

Reply by LisaWI on 1/21/07 10:07am
Msg #171925

Re: John.....Thats it!

I snuck a peak at your privacy policy. To the point and simple IMO. All I want to do is show that I care about their private info and I have taken the steps within my means to protect it.

Reply by David Kral on 1/21/07 10:51am
Msg #171937

State Notary Law prevents

Notary in my state already required to keep eveything confidential. This is overkill. If something goes wrong, it could expose you to a lawsuit is an attorney somehow determines you violated your own letter.

DO NOT IT.

Reply by TRG_wy on 1/21/07 2:44pm
Msg #171959

Re: State Notary Law prevents

I'm sure that most, if not all states require require confidentiality. That being said, it is in our nature as Notaries to abide by this standard anyway.

However, how often does the average person interact with a notary? Are they aware of the high standards we maintain to protect their interests? I would say no. There is nothing wrong with letting them know that their personal information is safe-guarded by us and can only be released under court order (i.e. our journal). To suggest that conveying this information to them may be UPL as noted above is absurd.

Having been on the receiving end of Identity Fraud/Theft four times myself, knowing that my personal information is being safe guarded helps to set me at ease. I get nervus when someone has access to my information. Nothing wron at all telling them you respect and protect their privacy.