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What is Email Encryption and Why is it Necessary?

Wed, Jan 14, 2015 at 3:05PM

What is Email Encryption and Why Is It Necessary?

Have you received an email from us that indicated it was “encrypted” and requested you to register and log in to receive protected emails from us in the process of buying, selling, or refinancing real estate?

Rest assured, this extra step is designed to safeguard the Non-Public Personal Information that we are transmitting in order to process your transasction.

Encyption is the process by which emails are secured to prevent unauthorized access. In order to protect your investment in your home, as well as protect your personal information, Southern Title has incorporated a robust email encryption program into its daily operations.

While the process is new for us, the requirement to protect financial information has been around for a while. The passage of the Gramm-Leach-BlileyAct (GLB) in 1999 required institutions dealing with financial information (including title companies) to ensure they’re handling it “in a safe and secure fashion.”

In 2003, the Federal Trade Commission (FTC) required companies to create security policies outlining their strategies to protect customer information.  The Consumer Financial Protection Bureau (CFPB) reiterated many of these regulations in their 2012 third-party service provider bulletin, which reinforced the message that lenders are liable for the actions of their service providers.

The third pillar of ALTA’s “Title Insurance and Settlement Company Best Practices” defines NPI 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.” This includes first name or initial and last name coupled with any of the following: date of birth, Social Security number, driver license number, state-issued ID number, credit card number, debit card number, or other financial account numbers.

When choosing a title company to handle your home sale, purchase, or refinance, be sure to consider the title agent’s email encryption policy as well as their adherence to Best Practices. In order to prevent future lawsuits or failure of their mortgages, most lenders are requiring title companies to comply with Best Practices. Southern Title is proud to have completed the necessary due diligence to be a Best Practices Title Agency!

What is Email Encryption and Why Is It Necessary?

Have you received an email from us that indicated it was “encrypted” and requested you to register and log in to receive protected emails from us in the process of buying, selling, or refinancing real estate?

Rest assured, this extra step is designed to safeguard the Non-Public Personal Information that we are transmitting in order to process your transasction.

Encyption is the process by which emails are secured to prevent unauthorized access. In order to protect your investment in your home, as well as protect your personal information, Southern Title has incorporated a robust email encryption program into its daily operations.

While the process is new for us, the requirement to protect financial information has been around for a while. The passage of the Gramm-Leach-BlileyAct (GLB) in 1999 required institutions dealing with financial information (including title companies) to ensure they’re handling it “in a safe and secure fashion.”

In 2003, the Federal Trade Commission (FTC) required companies to create security policies outlining their strategies to protect customer information.  The Consumer Financial Protection Bureau (CFPB) reiterated many of these regulations in their 2012 third-party service provider bulletin, which reinforced the message that lenders are liable for the actions of their service providers.

The third pillar of ALTA’s “Title Insurance and Settlement Company Best Practices” defines NPI 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.” This includes first name or initial and last name coupled with any of the following: date of birth, Social Security number, driver license number, state-issued ID number, credit card number, debit card number, or other financial account numbers.

When choosing a title company to handle your home sale, purchase, or refinance, be sure to consider the title agent’s email encryption policy as well as their adherence to Best Practices. In order to prevent future lawsuits or failure of their mortgages, most lenders are requiring title companies to comply with Best Practices. Southern Title is proud to have completed the necessary due diligence to be a Best Practices Title Agency!


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