The Financial Services Modernization Act as enacted by Congress has brought many changes to the financial services industry, which includes insurance companies and their agents. One of the changes is that we are now required to explain to our customers the ways in which we collect and use customer information.
our concern with the protection of your information has been a part of our business since 1976 when the company that is now Eastern Abstract Corp. issued its first policy. We will continue to protect the privacy, accuracy and security of customer information given to us.
If you have any questions, please call us at 718/ 654.2000.
WHAT KINDS OF INFORMATION WE COLLECT. We collect information about you (for instance: your name, address, telephone number) and information about your transaction, including the identity of he real property that you are buying or financing. We obtain a copy of any deeds, notes, or mortgages that are involved in the transaction. We may get this information from you or from the lender, attorney, real estate or mortgage broker that you have chosen. We then obtain information from the public records about the property so that we can prepare a title insurance policy. When we provide closing, escrow or settlement services, we may get your Social Security number and we may receive additional information from third parties including appraisals, credit reports, land surveys, escrow account balances, and sometimes bank account numbers to facilitate the transaction. If you are concerned about the information we have collected, please write to us.
HOW WE USE THIS INFORMATION.The company giving or specifically adopting this notice does not share your information with marketers outside its own family. There's no need to tell us to keep your information to ourselves because we share your information only to provide the service requested by you or your lender, or in other ways as permitted by law. The privacy laws permit some sharing without your approval. We may share internally and with non-affiliated third parties in order to carry out and service your transaction, to protect against fraud or unauthorized transactions, for institutional risk control, and to provide information to government and law enforcement agencies. Credit information about you is not sought by thie Company.