@Anonymous-own-fico wrote:
I was wondering how the transport of loan documents from say a broker office or a bank to the title company works. If physical, is it something like FedEx overnight? If virtual, is it protected by something such as secure upload to server and download at the receiving end? Do federal standards exist for this sort of stuff to preserve the confidentiality of client information?
Secure server. Bank or broker uploads docs to a secure server, title company downloads loan package. I assume there must be federal standards for confidentiality. Most lenders have a reference to privacy and confidentiality in even their non-secure emails similar to this one below:
Please Note: We care about your security and privacy. Please don't include identifying information like account numbers, birth dates and social security numbers in emails to us. Call us instead for secure email options or send the information by fax or regular US mail.
CONFIDENTIALITY AND SECURITY NOTICE The contents of this message and any attachments may be privileged, confidential and proprietary and also may be covered by the Electronic Communications Privacy Act. If you are not an intended recipient, please inform the sender of the transmission error and delete this message immediately without reading, disseminating, distributing or copying the contents. (Lender name here) makes no assurances that this e-mail and any attachments are free of viruses and other harmful code.
