Disclosing Account Numbers on Loan Docs Permissible
September 24, 2001
An originating lender placing a borrower’s loan account number on mortgage loan documents that subsequently enter into public records is not violating federal consumer privacy statutes, according to federal regulators. Responding to a Consumer Mortgage Coalition inquiry, the member agencies of the Federal Financial Institutions Examination Council said the practice is exempted from the Gramm-Leach-Bliley Act’s opt-out provisions.