Best Practices One by One: #3 - Protection of Non-public Information
by: Greg Henshaw, Title Counsel, Triad
Now that you are up to speed with the licensing and trust accounting pillars of the American Land Title Association (ALTA)'s Title Insurance and Settlement Company Best Practices Framework (Pillars No.1 and No. 2), let's take a look at Pillar No. 3, Protection of Non‐public Personal Information. What is Non‐public Personal Information (NPI or NPPI)? NPI is defined as “Personally identifiable data such as information provided by a customer on a form or application, information about a customer's transactions, or any other information about a customer which is otherwise unavailable to the general public. NPI includes first name or first initial and last name coupled with any of the following: Social Security Number, driver's license number, state‐issued ID number, credit card number, debit card number, or other financial account numbers.” Due to the size of closing packages and the multitude of other information provided to settlement agents (closing attorneys in North Carolina) by lending institutions, it is clear that settlement agents have access to large amounts of NPI related to their clients. Pillar No. 3 deals with protection of this NPI by settlement agents to prevent the compromise of personal/financial information.
As with several of the other Pillars in the Best Practices, the third Pillar also has a requirement that the settlement agent develop and maintain written procedures regarding the implementation of the Pillar, in this case the adoption and maintenance of a privacy and information security program. As mentioned in a prior article, ALTA has created a document entitled “Best Practices Policy and Procedure Creation Guidance” to assist law firms in the creation of these written controls
New Lien Law – Access to our LiensNC.com job aid and Lien Waivers
Attorneys Title hosted seminars throughout March of 2013 across the state to help explain changes to North Carolina's mechanic's lien law. These seminars provided a summary of the statutory changes, a preview of the new online lien agent system - LiensNC.com, and reviewed the revised and new lien waiver forms.
For an electronic copy of the manuscript which contains a LiensNC.com job aid, click HERE.
To be directed to revised and new lien waiver forms click HERE.
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