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[+] Licensing in Minnesota - Alix Ott/MI (11 replies)
10/8/2015 4:40:29 PM (2175 views)

[+] Comment on "Altisource Plans Automated Reverse Auctions for Vendors" - Source of Title/OH (4 replies)
10/6/2015 11:49:57 PM (2922 views)

Website outage - Slade Smith/OH
10/6/2015 4:20:52 PM (1555 views)

[+] Title Plant Software - Tanya Stevens/MS (1 reply)
10/6/2015 9:36:14 AM (2163 views)

[+] How to find county lines - Alix Ott/MI (21 replies)
10/4/2015 5:01:23 PM (2384 views)


Real Title Services


POSTING RE: BAD PAYS/ETC - Heidi Gemeling/FL
10/3/2015 7:25:36 PM (2116 views)

[+] SATISFYING A MORTGAGE AND THEN RE-RECORDING IT TO CORRECT - Heidi Gemeling/FL (2 replies)
10/3/2015 6:51:07 PM (2180 views)

[+] Copy fees, etc. - Marian Severance/PA (47 replies)
10/1/2015 8:59:18 PM (3344 views)

[+] CLS Direct, Inc. (aka) - Wayne Brown/VA (5 replies)
9/30/2015 12:37:22 PM (2477 views)

[-] TRID and the encryption issues - Alix Ott/MI (5 replies)
9/30/2015 11:43:00 AM (2132 views)
Re: TRID and the encryption issues - Patrick Scott/IL
9/30/2015 8:42:18 PM (1682 views)

I'm not Robert, but I have met Robert a few times, and I think he's a heck of a guy.  So, I hope that qualifies me to attempt an answer here.

 This is nation wide, and goes back to the Graham Leach Bliley Act of 1999, parts of which, it would appear, have not been strenuously enforced -- until now.  The Act included provisions for protecting consumer privacy.  With the more recent creation, and transfer of authority to, the Consumer Financial Protection Bureau, the regulatory environment in the lending industry is seeing significant changes. 

The change that most affects as third party vendors and their subcontractors, is the burden of responsibility for the actions of third party vendors and their subcontractors being placed squarely on the shoulders of the lenders.  In a proactive move to assure the lending industry that its members would be a safe bet to work with, the American Land Title Association assembled a series of best practices, which its members are encouraged to follow.  Information security is the largest piece of the best practices framework, and requires significant effort and expense for many of its members to comply. 

Since the lenders will now bare the burden should their customers' non-public information be stolen, or otherwise mishandled, the vendors must take steps to assure the lenders that they, and their subcontractors, are taking all reasonable steps to protect the privacy of their borrowers.  And we, as abstractors, are not exempt from also taking all reasonable steps to protect the consumers' privacy.

 

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Re: TRID and the encryption issues - Robert Franco/OH
10/2/2015 9:45:50 AM (1579 views)
Re: TRID and the encryption issues - george Hubka/MI
10/5/2015 9:06:14 PM (1591 views)
Encryption issue - is your report public or private? - Bobbi Shorthouse, Notary Public/CT
10/2/2015 8:42:44 AM (1473 views)
Re: TRID and the encryption issues - Jeffrey Land/NJ
2/1/2016 11:34:11 AM (1112 views)

[+] Atlantic Title Abstract ??? - M Adams/KY (1 reply)
9/29/2015 10:58:04 AM (2088 views)

[+] You Have Got To Be Kidding - Please Read - Kenneth Signor/SC (20 replies)
9/28/2015 7:01:30 PM (4386 views)

[+] Foreclosure on an affordable unit - what a mess - Leigh Attridge/MA (2 replies)
9/28/2015 6:52:04 PM (1994 views)

[+] String Information Services - jess barker/IL (2 replies)
9/28/2015 4:50:09 PM (2351 views)

[+] Capstone Title Services LLC - KAREN ROBERTS/PA (29 replies)
9/28/2015 9:13:34 AM (3259 views)


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