All personal information, including financial and credit information, provided to
the board for the purpose of obtaining and servicing a loan, shall be held in strict
confidence by the board, and used only by the board and its authorized employees for
the purpose of processing and servicing the subject loan. Release of any information on an applicant or borrower outside of the board shall
be only by proper legal subpoena or by the written consent of the individual involved. The intent is to protect the privacy of individual citizens/veterans and to provide
complete candor in loan processing and related business matters. This section is not intended to apply to communication with the credit and financial
community on credit evaluation and loan servicing. Also, it is not intended to prevent the disclosure of information in the process
of negotiating a settlement by a third party when a loan is in default or otherwise
in violation of this law.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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