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  1. #1
    Join Date
    Jun 2008

    Default Personal Bank Statement Exposed by Mortgage Service

    My question involves personal finance in the State of: CT

    Upon returning to work in a local school after the holidays, my wife found an opened envelope, addressed to her employer on her desk. The envelope was addressed to the central office in another part of town.

    The envelope contained a request for verification of employment addressed to the employer and also, a request to our bank (inserted in error) to verify the information on an enclosed copy of our entire monthly bank statement. The bank statement contained all the information on our several accounts complete with entire account numbers, every transaction for the month, complete information regarding our mortgage and line of credit etc. There was no note and no one knows who placed the envelope on her desk or how many people looked at our personal finances.

    I called the mortgage service company and was told that this was "part of the ongoing quality control system for the MPF (Mortgage Partnership Finance), (although the first person I spoke to couldn't tell me what MPF stood for). Apparently, they audit loan applications for Fannie Mae on a random basis. There was an attached copy of an agreement with our signatures that allows verification by lenders that we signed when refinancing last year. So, the request for verifications is legitimate, but the inadvertent enclosure of our bank statement puts our financial information at risk.

    I think it would be reasonable to request that the mortgage service company supply us with free identity protection for the next three years and intend to make that request.

    Am I being reasonable? If they decline, should I threaten legal action? Do I have reasonable cause for legal action? Am I worrying for nothing?

    Your advice would be appreciated.

  2. #2
    Join Date
    Jul 2010

    Default Re: Personal Bank Statement Exposed by Mortgage Service

    The standard "oops" offer in these type cases is 1 year of credit monitoring, that's pretty much the best you can hope for. You are free to ask for 3 but don't be surprised if they come back with 1. It might be a good idea to get with your bank about changing your account numbers.

  3. #3
    Join Date
    Jun 2008

    Default Re: Personal Bank Statement Exposed by Mortgage Service

    Thanks free9man, that's what I figured.

    I thought about changing the account numbers but, that would be quite involved, with automatic payment withdrawals etc.

    On reflection, I think that it's highly unlikely that any of the overworked people in the school system had any interest in the information other than a little curiosity maybe. Today, I sent the letter to the mortgage company and will see what they say. If they decline, I may just sign up for a year of ID protection on my own.

  4. #4
    Join Date
    Jun 2008

    Default Re: Personal Bank Statement Exposed by Mortgage Service

    They agreed to the 3 years. However, they want me to make the arrangements and they will reimburse me. I think I'll contact Lifelock or something similar, tell them the situation and have them contact the bank and get paid directly from the bank.

    Their email message:
    "I would first like to apologize for the mistake we made in erroneously including your personal bank account statement with the employment verification sent to your wife's employer. Our procedures established to avoid this kind of human error were not followed and our procedures for the routing of borrower calls were not properly followed. Rest assured these mistakes have been addressed with our staff and necessary actions have been taken.

    I have no knowledge as to bank and other company policies regarding an issue of this nature but we will be pleased to reimburse your family for the inconvenience that our mistake has caused. You may send me your suggested approach for acquiring the identity protection and how you would like for us to reimburse the family for your requested three years of identity protection or you may give me a call at the 800 number below".

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