Comments on: What can I do if a mortgage lender disclosed information about my loan to the seller without permission? http://planning-financial.com/what-can-i-do-if-a-mortgage-lender-disclosed-information-about-my-loan-to-the-seller-without-permission/ We offer the most comprehensive information on financial planning to help for your financial planners. Check our selected financial planning guides and financial future reviews at our site. Sun, 21 Mar 2010 18:30:13 -0500 http://wordpress.org/?v=2.8 hourly 1 By: unisberkensap http://planning-financial.com/what-can-i-do-if-a-mortgage-lender-disclosed-information-about-my-loan-to-the-seller-without-permission/comment-page-1/#comment-5882 unisberkensap Sun, 01 Nov 2009 04:49:58 +0000 #comment-5882 Your financial privacy is protected under the Gramm Leach Bliley Act (1999/ amended 2003). The act prohibits financial institutions from sharing non-public information with third parties. Enforcement is by the FTC and violations would be a civil action brought forth by the U.S Attorney General's office. The penalties are $100k max/per for the institution & $10k max/per for officers and directors. (Interest rate and payments are disclosed in your purchase contract so they would not be 'non-public'.) Getting the US Attorney General to prosecute a violation at this level might be quite impossible. You might have better luck, and satisfaction, writing a letter of dis-satisfaction to the loan officer, cc his broker, and your real estate agent and ask for some additional boot to keep you from terminating the contract. ( There are MANY ways to terminate and keep your earnest money)

Your financial privacy is protected under the Gramm Leach Bliley Act (1999/ amended 2003). The act prohibits financial institutions from sharing non-public information with third parties. Enforcement is by the FTC and violations would be a civil action brought forth by the U.S Attorney General’s office. The penalties are $100k max/per for the institution & $10k max/per for officers and directors.

(Interest rate and payments are told in your buy contract so they would not be ‘non-public’.)

Getting the US Attorney General to prosecute a violation at this level might be quite impossible. You might have better luck, and satisfaction, writing a letter of dis-satisfaction to the loan officer, cc his broker, and your real estate agent and question for some additional boot to keep you from terminating the contract. ( There are MANY ways to terminate and keep your earnest money)

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