Apart from following the data security practices present in most industries, Notary signing agents have some special requirements because of the nature of loan-signing assignments.
The fact that most signings are still done on paper means you have to print out the loan package, take it with you to the assignment then ship it back to your hiring company.
This process makes lenders nervous because loan packages contain a great deal of sensitive personal and financial information about borrowers.
Protecting the personal, non-public identity and financial information of consumers has become a global imperative, and Notaries in all walks of life are being asked to enter the fray.
Some Guidelines From Industry Experts:
- Always keep loan documents in your possession from the time you get them until you send them back
- Avoid using public computers and printers to print out loan documents
- Delete loan documents from any computing device as soon as the assignment is done
- Don’t leave loan documents outside to be picked up
- Always deliver the loan package to the shipping store and get a receipt
- Never use a FedEx or UPS drop box.
“If people see a Notary drop a big stack of closing packages in a box, they will raid that box,” says T.J. Harrington, Vice President of Vendor Management for Bank of America. On the other hand, the receipt proves that you did your job if the package goes astray.
Michael Lewis is Managing Editor of member publications for the National Notary Association.
Related Content:
NNA 2015 Conference Industry Panel Video
Test Yourself: How Secure Are Your Data Handling Practices?
Additional Resources:
Notary Privacy Guard
Locking Storage