Mortgage Depot (MD) considers the privacy and protection of information concerning
a client* to be extremely important and has designed this policy to inform
you how personal information will be handled.
Source of Information
Most information is gathered directly from you in the form of a credit application.
Information is also gathered from credit reporting agencies, mortgage insurers,
lenders and/or any person, corporation or enterprise with whom you have or
propose to have a financial relationship.
Purpose and Sharing of Information
Information is gathered to confirm your identity and to assess your eligibility
for credit. Only information that may have a bearing on your application for
credit is gathered. It is shared with lending organizations that MD approaches
on your behalf to arrange a new loan or to renew, transfer or amend an existing
loan. Some information may also be shared with credit reporting agencies and
others with whom you have a financial relationship as part of the process of
gathering information on which to base the decision to make a loan. You may
refuse to provide information, but such refusal may result in your application
for credit being declined. Information may also be shared if necessary to meet
audit, legal, accounting or regulatory requirements.
Social Insurance Numbers
MD requests your social insurance number to help confirm your identity and
citizenship. You are not required to supply this number and refusal to do so
will not, by itself, result in credit being declined. MD may request other
forms of identification.
Retention of Information
MD collects only that information needed to provide you with the service or
product you request. Information is stored in a secure environment and retained
as long as necessary to meet legal and regulatory requirements and the purpose
for which it was intended. Once information is no longer required it will be
disposed of in a secure manner such as the shredding of paper documents and
erasure of electronic files.
Use of Personal Information for Marketing or Information Updates
MD does not supply information to others for marketing purposes. MD may supply
you with information about products or market conditions that may be of importance
or interest to you in the future. You may withdraw your consent to be provided
with this information at any time.
Consent
MD obtains your consent to obtain and share information in several ways. MD
relies on the following as indications of consent to our current and future
personal information practices:
- Your voluntary provision of information directly to MD for purposes
obtaining, renewing or transferring a credit product.
- You express consent or acknowledgement contained within a written, verbal
or electronic application process.
- Your consent given through your authorized representative. This could
include a legal guardian, agent or someone to whom you have given your Power
of Attorney.
Questions or Concerns
Questions or concerns about MD’s Privacy policy can be expressed by
calling 250-475-1166 or 1-888-622-7999 (outside the Greater Victoria area)
and asking for the Manager of Privacy Policy.
*In this policy, “client”, “you”, “your” and “yours” refers
to any individual who has requested a product or service from Mortgage Depot.
