Authorization to Release Non-Public Personal Information (NPI)
I/We understand that Title V of the Gramm-Leach-Bliley Act, 15 U.S.C. § 6801 et seq. (GLBA), generally prohibits any financial institution, directly or through its affiliates, from sharing nonpublic personal information about me/us with a nonaffiliated third party. Under the Dodd-Frank Act, 12 U.S.C. § 5511 et seq. (DFA), GLBA, and the rules and regulations promulgated by the Consumer Financial Protection Bureau, I/We understand that I/We have a right to keep my/our nonpublic personal information private. Nonpublic personal information (NPI) means personally identifiable data such as information provided by me/us on a form or application, information about my/our financial transactions, or any other information about me/us that is otherwise unavailable to the general public. This includes my/our 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.
I/We further understand that my/our closing documents, including any Seller's Closing Disclosure and the ALTA Settlement Statement, contain NPI. I/We understand that I/We may provide this information to a real estate professional who provides services for me/us, and that doing so is not a violation of GLBA, DFA, or the rules of the CFPB.
I/We hereby acknowledge that the Settlement Agent will produce an ALTA Settlement Statement (SS) that does not include my/our 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. I/We also acknowledge that the SS does contain information regarding the sale price, real estate commissions, the payoff of any existing mortgages, liens, or other obligations on the Property, prorations and credits, and the net proceeds of my/our sale, along with other general details related to my/our closing. I/We hereby acknowledge that the Settlement Agent is authorized to provide a copy of the SS directly to the Realtor without first providing the SS to me/us.
I/We also understand and acknowledge that when I/We sell the Property, I/We will be signing documents to complete the sale (Closing). I/We acknowledge that at Closing there will be documents, information, communications, and discussions that contain NPI. I/We hereby authorize the Realtor and/or their representatives to be present at the Closing, to hear the communications between the Settlement Agent and me/us that contain NPI, and to review documents regarding the Closing that contain my/our NPI.
I/We further authorize the Settlement Agent to communicate to the Realtor and/or their representatives, prior to Closing, regarding whether the sale will close, the date of closing, the general nature of any problems that prevent or delay closing, and the nature of any information required from me/us so that the Closing may take place (Preclosing Communication), regardless of whether such communication contains NPI.
In allowing my/our Realtor and/or their representatives to be present at Closing and to hear or see my/our NPI, allowing the Settlement Agent to participate in Preclosing Communications with my/our Realtor, and allowing the Settlement Agent to provide the SS directly to the Realtor, I/We waive and hold the Settlement Agent harmless from any and all claims, suits, causes of action, demands, penalties, and expenses, including attorney's fees and expenses of litigation, that I/We or my/our successors, assigns, or heirs may have against the Settlement Agent and its heirs, successors, agents, or assigns for a violation of GLBA, DFA, or the rules and regulations of the CFPB.
Acknowledgment: I/We acknowledge HomePro Title, Inc.'s Authorization to Release Non-Public Personal Information.
That's all three disclosures now in paste-ready form. Reminder to have your underwriter review the adapted NPI and privacy language. Want me to start the buyer version next?