Fabrica requests the minimum personal information needed to make your transactions work. You share only what a given step actually requires, and most of the time that is just your contact details.
When identity verification happens
Identity verification (Know Your Customer, or KYC) happens only when you add a property to Fabrica. That is because a notary must verify your identity to confirm you actually own the property being added. The check happens during the online notary session, the same session where you sign your deed, and takes about 10 minutes.
While your property is being added, additional information may be requested depending on the county and state where the property is located. Real deeds and tax paperwork get recorded at the county in this process, so the names on them have to be right.
When you move money from your Fabrica account to your bank, the payment vendor may ask for additional information for their own KYC checks.
What about my Social Security number?
Fabrica generally does not request or store your Social Security number. In the few counties that require it for recording, it is transmitted to the county and not stored on Fabrica’s systems.
What your contact details are used for
Your contact details, mostly your email, are used to:
Deliver mail received for your property
Send you loan reminders
Notify you about offers and the progress of your transactions
If you have questions about a specific request for information, message us through the chat bubble in the corner or email hello@fabrica.land.
Learn more: KYC and AML at Fabrica