News & Updates
Revisiting the Protection of Non‐public Personal Information
By: Greg Henshaw, Title Counsel ‐ Triad
As we quickly move into 2015 and prepare for all of the changes that will be occurring in the areas of real property law and loan closings, it may be helpful to take another look at one of the important pillars in the ALTA Best Practices, the protection of Non‐public Personal Information. Many of you have already performed a self‐audit of your law practice to see what areas of Best Practice compliance need some work. Protecting your clients' personal information is clearly one of the more challenging pillars of the Best Practices, and one that lenders will certainly be stressing.
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 closing attorneys by lending institutions, it is clear that closing attorneys have access to large amounts of NPI related to their clients.
As with several of the other pillars in the Best Practices, the Best Practice regarding protection of NPI also has a requirement that the closing attorney develop and maintain written procedures regarding the implementation of the protections, in this case the adoption and maintenance of a privacy and information security program. ALTA has created a document entitled “Best Practices Policy and Procedure Creation Guidance” to assist closing attorneys in the creation of these written controls.
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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