We Are Committed to the Privacy of Your Information.
The protection of Non-Public Personal Information (NPI) has been the focus of recent mortgage regulations, and we would like to explain what NPI is and how we protect it.
To stay compliant with industry regulations and standards, our process is to send NPI to the borrower only. If you are acting as an agent for the borrower, we will advise you that the information has been sent to the client(s), and the client(s) can decide whether or not to forward the information to you. Until we receive further clarification from the Consumer Financial Protection Bureau, CFPB, that waivers (like the form put out by TAR) are acceptable for use, we will not rely on them to release us from liability under CFPB.
At closing, we will provide the borrower with a couple copies of the Closing Disclosure (or make an extra copy after all parties have signed), and if he or she would like to share this with an associated agent, they can.
In addition to protecting who receives NPI, we also use encryption protocols and have secure options for sending and receiving this information.
What is NPI (Non-Public Information)?
Generally:
A. Any information that in itself or as part of a unique combination of information specifically recognizes an individual by unique descriptors and/or identifiers
B. Information from customers on forms, applications, or information about a customer’s transactions
C. Information about a customer which is otherwise unavailable to the general public
Specifically:
NPI includes first name or first initial and last name, coupled with social security number, driver’s license number, state-issued I.D. number, credit card number or other financial account numbers (found on personal checks). Examples are as follows:
A. Banking information, loan payoff, and credit card statements
B. Earnest money checks
C. Insurance, retirement, and tax statements
D. Social security numbers, dates of birth, and driver’s license copies
E. Private real estate title related items (Schedule A with purchase price and/or loan amount; remainder does not contain NPI), sales price commission amounts, and loan fees