Any of the signing agents been questioned by their clients on background checks and certifications as a signing agent? It is my understanding that it was initially represented to signing agents that it was a requirement of GLB ACT with a deadline of December 1, 2006. In view of the December 1, 2006 deadline for compliance, it seems rather odd that the GLB ACT is cited as the reason for this "recent" requirement when it was enacted quite some time ago.
I have also heard that a number of these clients which were challenged to show where in the GLB ACT this requirement was to be found, have now taken the position that it is a matter of their personal preference rather than a requirement. It is also my understanding that there is some confusion as to which certification, if any, is required.
I have been told that a number of the signing agents have reported this matter to their various Attorneys General offices, and received responses that their respective state governments are commencing investigations of these client demands for possible anti trust litigation.
I would be interested in hearing some feedback as to the signing agents' experiences.
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