For fans of Alison Krauss and Union Station, I think you’ll agree that this song is one their best covers. Unfortunately, some of my fellow mortgage professionals haven’t gotten the word.
I was speaking with a new client this morning about her mortgage and she shared that she had started her journey to homeownership with another loan officer but got turned-off by his lack of professionalism. I asked what he’d done that made her feel that way. Imagine my shock and dismay when Jennifer told me that this fellow had shared highly confidential credit information with the seller of the property.
Beyond the complete absence of common-sense demonstrated by this loan officer (you really shouldn’t need training to know that you aren’t supposed to share the personal information of your clients with anybody, never-mind the seller), there’s the small matter of the federal regulation known as the “Graham-Leach-Bliley Act” which requires all persons handling personal financial data to keep it confidential. No ifs, ands, or buts.
I’ve always said that you can’t fix stupid. As disheartening as it is to learn there’s someone in my business who really is, the next best thing for you – the consumer – is to make sure that you have a conversation with loan officer you’re interviewing to make sure they understand what their responsibilities are. If you get a blank stare from them when you ask “How are you complying with the Graham-Leach-Bliley Act?,” it’s time to move on. Really.
As for me, I’ll keep singing “I say it best when I say nothing at all.”