Posted by Penney/CA on 9/23/10 2:08pm
Msg #353641

Document retention

I have a question regarding e-mailed loan documents retention. I am getting ready to delete some of my folders for loan document signings that I have completed and have received payment. I am curious how all of you handle these documents. Do you retain them for a certain period of time? Any help on this would be greatly appreciated.

Reply by Glenn Strickler on 9/23/10 2:24pm
Msg #353646

I delete them when I get paid and the check clears.

Reply by Linda_H/FL on 9/23/10 2:46pm
Msg #353660

Re: Document retention...agree with Glenn

Except I keep a hard paper copy of the confirmation, completion report (if any), tracking/shipping info, and any other e-mails that we passed between myself and the hiring party.

Reply by Mary Ellen Elmore on 9/23/10 2:56pm
Msg #353667

Re: Document retention...agree with Glenn

I do the same as Linda.

I also use the secure shredder with Spybot Search & Destroy to "shred" the file as many times as possible.

Reply by Ilene C. Seidel on 9/23/10 3:09pm
Msg #353675

Re: Document retention...agree with Glenn

I do the same as Linda. Don't keep the loan packages after payment received.

Reply by MW/VA on 9/23/10 3:29pm
Msg #353687

I don't keep any docs on file in my computer. IMO it's a violation of GLBA to do so.
Others have a different view (hey, that's from a song, isn't it? LOL).

Reply by Penney/CA on 9/23/10 3:49pm
Msg #353690

Thank you all for your input. I am following the procedures you have stated already, but it is nice to get confirmation.

Reply by Marian_in_CA on 9/23/10 11:15pm
Msg #353766

I keep them until I'm paid, but I don't keep them on my laptop. I back them up to an secured external drive that I keep in my safe with my notary supplies. Opening any of those files requires my thumbprint and a password.

I regularly do security wipes of my laptop to make sure any residual files are destroyed, too.

Reply by jnew on 9/23/10 11:42pm
Msg #353770

I print all of my incoming and outgoing emails to PDF and store them in files on my computer. I retain a copy of the loan documents and ID information on a secure flash drive indexed by file number and password protected. I store the flash drive in a locked cabinet. Each time I am paid in full for an order I delete the documents from the flash drive for the paid order. It is kind of a pain, but I do not keep unsecured copies of any borrower PFI on my computer. I keep absolutely no paper copies of anything.