Reply by GOLDGIRL/CA on 2/23/13 4:42pm
Msg #457341
Respect or otherwise ....
I've never seen a SS with an official Privacy Policy as is contained in nearly every loan pkg from either the lender or the TC and often both.
As we all well know, there are way too many low-down, flea-bitten, dog-food selling SSs out there; and nearly every borrower I can think of would flip at the thought that all their personal info would be "residing" in one of their cockroach-infested file cabinets. For what purpose?
(Another reason to never give a copy of your DL to a SS. There as absolutely no semblance of privacy protection).
We as SAs are background checked up the wazoo and back and are required to sign agreements with every SS and TC we deal with to protect docs, limit access to our computers, keep our journals in a bomb-wired safe, etc., but any ole SS can expect us to turn over borrower info? Yikes! Wonder what the TC/lender would think of that?
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Reply by Moneyman/TX on 2/24/13 5:19am
Msg #457412
Lender, TC, & NSA are the only ones that need the info.
The SS companies make a few phone calls and send a few emails, they are not some kind of 'super stop-gap identity depository' that any TC would ask to provide the very information that they had already received??
From the reports of their responses to questions regarding their policy, and from some of the actual response postings on this board from AA ... personally, me thinks they think too highly of themselves. In reality, they are a glorified middle-man in the process of getting loan documents signed between the TC's and the NSA's, imo!
Does AA even realize how stupid they sound by telling people that "they" provide this information to title companies when the TC actually has a copy of the BO's ID's in the return package, as one poster reported? I wouldn't provide that kind of info to any SS, especially one that, as reported by others, does not disclose their privacy policy to the NSA AND to the signers, who's private info they are requesting.
Aren't they required by law, well any company actually, that requests such private information form others in the course of obtaining a loan, supposed to at least give the BO's a copy of their privacy policies and how the BO's private info will be protected while the info is in the hands of this 4th party to the transaction? If so, and they haven't been doing that, as some have reported, perhaps they might want to re-think their own attitude in how they respond to the NSA's that have questioned this, imo, very questionable policy to request such information.
Their responses might just irritate one, or more, NSA's that have worked for them and still have access to recent full loan docs to investigate; and if no such disclosure is found within the final loan doc file(s), to request clarification from certain state & federal agencies on the matter, for the NSA's own peace of mind and protection.
If I had actually preformed signings for a company that responded to me like I was some stupid child that should just do as I am told without questioning the high and mighty SS company, with their nose stuck straight up in the air attitude in their responses over such a matter, I wouldn't hesitate to request an opinion from the regulating federal and state agencies on the matter.
If any SS company were to tell me that "their" lawyers have already approved whatever it is that they are doing, so it is of no concern to me, the NSA, and to basically, just do as you are told, they would get a one finger response from me. Basically, they would be telling me that I am to * take their word for it * that everything is legal and above board, and to just shut up about it. In such a case, I would be demanding the name & contact information for "their lawyers" so that, at the very least, I could record my own confirmation from these lawyers for my own protection. Not to mention, to be able to actually check out the people that the SS company is claiming to be "their lawyers" who approved. Who knows, it could actually be "cousin Bob" that had dinner with them and said something like, "Looks good to me!", just before "cousin Bob" headed off to his job at the local movie theater as a ticket counter. and customer guide.
As GG pointed out, "there are way too many low-down, flea-bitten, dog-food selling SSs out there."
I have family members and clients that have their identities stolen and have been the victims of ID theft. No SS would get from me, or with my assistance, the type of unnecessary and private info that it appears is being requested by AA.
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Reply by jojo_MN on 2/24/13 9:46am
Msg #457432
Re: Lender, TC, & NSA are the only ones that need the info.
I agree with you on every point. In my opinion, signing services should NEVER see the packages and have access to the borrowers information. They should assign the jobs to notaries, pass on the information to the title company, and all documents should come directly to the notary via secure link or overnight express.
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