Date: Thu, 30 Sep 93 16:26:03 EST Errors-To: Comp-privacy Error Handler From: Computer Privacy Digest Moderator To: Comp-privacy@PICA.ARMY.MIL Subject: Computer Privacy Digest V3#051 Computer Privacy Digest Thu, 30 Sep 93 Volume 3 : Issue: 051 Today's Topics: Moderator: Dennis G. Rears Re: Computer Privacy Digest V3#050 GOPHER link to _Directory of Scholarly Electronic Conferences_ SSN privacy The Computer Privacy Digest is a forum for discussion on the effect of technology on privacy. The digest is moderated and gatewayed into the USENET newsgroup comp.society.privacy (Moderated). Submissions should be sent to comp-privacy@pica.army.mil and administrative requests to comp-privacy-request@pica.army.mil. Back issues are available via anonymous ftp on ftp.pica.army.mil [129.139.160.133]. ---------------------------------------------------------------------- Date: Thu, 30 Sep 1993 10:29:55 -0700 (PDT) From: Joel Levine Subject: Re: Computer Privacy Digest V3#050 The following is a copy of a document that I was asked to sign at a refinancing escrow. I was told by the lender that if I did not sign it I would not receive the loan. oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo LBOA 064789-824 NORTH AMERICAN MORTGAGE COMPANY* a Delaware corporation BORROWER'S AUTHORIZATION We hereby give our consent to have North American Mortgage Company, its secondary market investors, or any credit reporting bureau which it may designate, obtain any and all information concerning our employment, checking and/or savings accounts, obligations, and all other credit matters which they may require in connection with our application for a loan and any quality control review of such loan. This form may be reproduced or photocopied and a copy shall be as effective as the original which we have signed. borrower borrower x borrower borrower date I hereby certify this to be a true and correct copy of the original. NORTH AMERICAN MORTGAGE COMPANY Privacy Act Notice: This information is to be used by the agency collecting it or its assignees in determining whether you qualify as a prospective mortgagor under its program. It will not be disclosed outside the agency except as required and permitted by law. You do not have to provide this information, but if you do not your application for approval as a prospective mortgagor or borrower may be delayed or rejected. The information requested in this form is authorized by Title 38, USC, Chapter 37 (if VA); by 12 USC, Section 1701 et. seq. (if HUD/FHA); by 42 USC, Section 145b (if HUD/CPD); and title 42 USC, 1471 et.seq. or 7 USC, 1921 et.seq. (if USDA/FmHA). HUD NOTICE Notice to Borrowers: This is notice to you as required by the Right to Financial Privacy Act of 1978 that HUD/FHA has a right of access to financial records held by financial institutions in connection with the consideration or administration of assistance to you. Financial records involving your transaction will be available to HUD/FHA without further notice or authorization but will not be disclosed or released by this institution to another Government Agency or Department without your consent except as required or permitted by law. VERSION 3.0 (02/02/93) LLT19USA oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo My objection is that the authorization is too broad. It does not limit the verification of "pertinent data" to that point in time that I applied for the loan. This document authorizes the future examination of then current "... information concerning our employment, checking and/or savings accounts, obligations, and all other credit matters" and does so for the life of the loan (as long as thirty years). It is clear to me that the lender wants to be able to sell this loan on the secondary mortgage market. It is also clear to me that any purchaser of loans is vitally interested in the borrowers repayment history and the probability that in the future the they will continue to pay as promised. I have no problem with my payment history being available to the secondary market however, other current, non-public data is none of their business. This authorization provides assurance to the secondary mortgage market at the expense of my privacy. I submitted an addendum to the above authorization to the lender clarifying that any verifications of data would be restricted to that data then available from the time of loan application to the closing of escrow, and the requirement that any persons or agencys notify me of their disclosure of my data. The lender refused any modification to the authorization. The loan in question is conforming, thirty year fixed, and prepared to FREDDI MAC/FANNI MAE standards. This means that most current or future homeowners/borrowers will be faced with this same document when they sit down in escrow. Your comments will be appreciated. Joel Levine [Moderator's Note: Basically the lender wants you to sign the document as is. He really doesn't care about your privacy; all he cares about his ability to assign the mortgage. You really don't have any choice unless you don't want a mortgage. ._dennis ] ------------------------------ Date: Wed, 29 Sep 93 21:17:44 EST From: Diane Kovacs Subject: GOPHER link to _Directory of Scholarly Electronic Conferences_ Please feel free to add Gopher to the list of ways one can retrieve The _Directory of Scholarly Electronic Conferences_ Type=1 Name=Directory of Scholarly Electronic Conferences Path=1/Computing/Internet Information/Directory of Scholarly Electronic Conferences Host=gopher.usask.ca Port=70 -- Earl Fogel Computing Services phone: (306) 966-4861 University of Saskatchewan email: earl.fogel@usask.ca ------------------------------ Date: Thu, 30 Sep 93 15:13 GMT From: Vincent Broerman <0005461808@mcimail.com> Subject: SSN privacy I do not quite understand. Most of it is probably due to my ignorance regarding hacking and hacking procedures. However, why is SSN privacy such a big deal. Quite simply, how easy is it for a hacker to "break" into the social security database and "steal" all of my money/records? Can someone enlighten me? Hasta la bye bye.... Vince ------------------------------ End of Computer Privacy Digest V3 #051 ******************************