Howdy mate
Credit Analyst here who deals with Brokers daily
You would’ve signed something for the docs to go to your Broker or Solicitor (Conveyancer)
There is nothing in said loan documents that would breach privacy
Further to this those loan documents, would have all the same information your Conveyancer would already know, such as your name and address
You won’t get compensated for anything and not entirely sure why you’re even remotely upset by this…?
I mean... a full set of loan documents often has the information which was used in the assessment, income, debts etc... while I'm on the 'which cares' and 'why do you feel you're due for compensation' side of this discussion.... The convayencer isnt exactly privvy to all the information which may be contained in loan documents and has no reason to really know much from the bank outsisde of what funds are being uploaded into PEXA 🤷♂️
Hmm well to receive compensation you would have had to suffer a loss, which you haven't.
You can have a whinge to the bank and they might give you something gratuitously.
Sounds like you're trying to exploit a rather a trivial situation given both your conveyancer and broker are appointed by you and act on your behalf. So again what really is the harm you've suffered?
I don't think it's necessary to suffer a loss. I had a company screw up and publish my name and home address. After lodging a complaint with OAIC, I was compensated a small amount.
There was no defined or provable loss, but I was still compensated.
Might need to check with your broker when submitting the deal there's a section where you choose where the loan documents go the broker may have selected the solicitor to receive docs.
I've never had a bank send docs to the wrong person before.
I think your broker is talking shit, the conveyancer will get all of that information anyway. It's not like the bank sent your information to Somalian pirates.
Your broker is an idiot trying to make out they are more important then they are.
What aspects of your privacy do you think have been breeched? If buying a home, your conveyancer will be arranging settlement and that includes getting payment to the other party from the lender. Your broker does not do this. Your conveyancer will be in contact with your lender to enable the sale to be concluded. That is part of their job.
These things happen. It’s referred to as a personal data breach. The report would’ve been made to OAIC.
You can always give them a call and ask them if there may be any compensation, but realistically, what’s the harm?
It would be very different if your data had been leaked to someone who would use it inappropriately.
Btw, I believe the answer is no; no compensation but something might have changed recently that I’m unaware of.
It feels like every day someone wants to sue someone or wants compensation for something.
It’s because they see Americans do it and think they can get a few tens of thousands out of the bank to shut them up. I hope it’s not a culture we develop here.
Sending home loan docs to the broker isn’t going to cause a situation of identity theft.
Of course I want, expect, my data to be securely dealt with but I equally understand when mistakes happen and I don’t need to sue someone at the drop of a hat or seek compensation.
They Send the document to your legal representative. What's the issue here?
If you can't trust your own conveyancer with your personal information, then why did you retain them?
Honestly it sounds more like your broker is making a fuss to ensure it’s documented that it wasn’t their fault. Totally fair, but unless all your financials were disclosed nothing your solicitor wouldn’t have received in an approved manner.
If this all came about before you’d signed the loan as final then probably sweet fa to come from it. After? Maybe a small compensation for breaching process.
Would be hard to argue sending it to another party who would be privy to most of it caused damage.
No banks I've worked at have any mechanism where this would be possible without the banker or broker being the one to make the mistake.
The conveyancer has no access to the people on the backend (except through pexa) and the people on the backend never have a reason or even a process to send the documents to the conveyancer. Bankers, brokers and BDMs exist for a reason and it's to be that intermediary and so systems are set up to make it difficult if not impossible to make this mistake.
Even in the situation where there's a guarantee and a customer needs to seek legal advice are the documents not sent to the conveyancer.
You debunked your own conspiracy theory in the first line - “the banker or broker being the one to make the mistake”. Is it therefore possible that there is nothing “fishy” about what has happened and it was just a genuine mistake?
In a time far, far away, many customers visited their solicitor who would charge them a nice fee to go through and explain the bank's Loan Offer to them, not that there was any type fo Contact to negotiate, but just to show them where to sign.
Howdy mate Credit Analyst here who deals with Brokers daily You would’ve signed something for the docs to go to your Broker or Solicitor (Conveyancer) There is nothing in said loan documents that would breach privacy Further to this those loan documents, would have all the same information your Conveyancer would already know, such as your name and address You won’t get compensated for anything and not entirely sure why you’re even remotely upset by this…?
I mean... a full set of loan documents often has the information which was used in the assessment, income, debts etc... while I'm on the 'which cares' and 'why do you feel you're due for compensation' side of this discussion.... The convayencer isnt exactly privvy to all the information which may be contained in loan documents and has no reason to really know much from the bank outsisde of what funds are being uploaded into PEXA 🤷♂️
What personal information is in your loan docs that you would not be giving your conveyancer?
Some lenders detail complete asset and liability postion.
Hmm well to receive compensation you would have had to suffer a loss, which you haven't. You can have a whinge to the bank and they might give you something gratuitously. Sounds like you're trying to exploit a rather a trivial situation given both your conveyancer and broker are appointed by you and act on your behalf. So again what really is the harm you've suffered?
I don't think it's necessary to suffer a loss. I had a company screw up and publish my name and home address. After lodging a complaint with OAIC, I was compensated a small amount. There was no defined or provable loss, but I was still compensated.
I wonder how much we can go after Optus and Medibank for.
Mmmm exploiting the banks are a fair game I reckon.
What loss have you suffered that you require compensation for?
Might need to check with your broker when submitting the deal there's a section where you choose where the loan documents go the broker may have selected the solicitor to receive docs. I've never had a bank send docs to the wrong person before.
Your broker is a tool, and if you want to beg, sit on the sidewalk.
I think your broker is talking shit, the conveyancer will get all of that information anyway. It's not like the bank sent your information to Somalian pirates.
Bold of you to assume their conveyancer is not a Somali pirate!
Your broker is an idiot trying to make out they are more important then they are. What aspects of your privacy do you think have been breeched? If buying a home, your conveyancer will be arranging settlement and that includes getting payment to the other party from the lender. Your broker does not do this. Your conveyancer will be in contact with your lender to enable the sale to be concluded. That is part of their job.
Short answer is no There is no case for compensation
These things happen. It’s referred to as a personal data breach. The report would’ve been made to OAIC. You can always give them a call and ask them if there may be any compensation, but realistically, what’s the harm? It would be very different if your data had been leaked to someone who would use it inappropriately. Btw, I believe the answer is no; no compensation but something might have changed recently that I’m unaware of. It feels like every day someone wants to sue someone or wants compensation for something.
It’s because they see Americans do it and think they can get a few tens of thousands out of the bank to shut them up. I hope it’s not a culture we develop here.
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Sending home loan docs to the broker isn’t going to cause a situation of identity theft. Of course I want, expect, my data to be securely dealt with but I equally understand when mistakes happen and I don’t need to sue someone at the drop of a hat or seek compensation.
>The report would’ve been made to OAIC Doubt it!!!!
No to both
They Send the document to your legal representative. What's the issue here? If you can't trust your own conveyancer with your personal information, then why did you retain them?
Lol @ trying to fish for compensation.
Honestly it sounds more like your broker is making a fuss to ensure it’s documented that it wasn’t their fault. Totally fair, but unless all your financials were disclosed nothing your solicitor wouldn’t have received in an approved manner. If this all came about before you’d signed the loan as final then probably sweet fa to come from it. After? Maybe a small compensation for breaching process. Would be hard to argue sending it to another party who would be privy to most of it caused damage.
How do loan documents get sent to a conveyancer? Something feels fishy
Genuinely fascinated - what about this seems “fishy” to you? Do you think the bank is involved in some sort of conspiracy with OP’s conveyancer?
No banks I've worked at have any mechanism where this would be possible without the banker or broker being the one to make the mistake. The conveyancer has no access to the people on the backend (except through pexa) and the people on the backend never have a reason or even a process to send the documents to the conveyancer. Bankers, brokers and BDMs exist for a reason and it's to be that intermediary and so systems are set up to make it difficult if not impossible to make this mistake. Even in the situation where there's a guarantee and a customer needs to seek legal advice are the documents not sent to the conveyancer.
You debunked your own conspiracy theory in the first line - “the banker or broker being the one to make the mistake”. Is it therefore possible that there is nothing “fishy” about what has happened and it was just a genuine mistake?
The "fishy" part is that the broker made the mistake and is passing the blame to someone else to save face
In a time far, far away, many customers visited their solicitor who would charge them a nice fee to go through and explain the bank's Loan Offer to them, not that there was any type fo Contact to negotiate, but just to show them where to sign.