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Privacy Policy |
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We are strongly committed to your right to privacy and to keeping your personal
and financial information secure. To earn your trust and confidence in our commitment,
we are fully disclosing our privacy practices and providing independent, audited
results of our policy on a quarterly basis. We encourage you to read our policy
to understand what types of personally identifiable information we collect and how
we use this information to process your requests for our customized products and
services. Although our policy applies to all users of our site, please note that
loan availability is limited to qualified individuals on U.S. properties.
What personally identifiable information we collect and how it is used:
We only collect the necessary personally identifiable information in order to respond
to your requests for our customized products and services. Personally identifiable
information includes, but is not limited to, first and last name, physical address,
zip code, email address, phone number, birth date, and any other information that
itself identifies or when tied to the above information, may identify you as a specific
individual.
You will be requested to provide certain personally identifiable information
on the following parts of our site:
- Rate Watchers™ - We collect an email address in order to notify you when your desired
interest rate is available.
- Loan Application Download - We collect certain personally identifiable information,
including first and last name, physical address, zip code, email address, social
security number, and phone number, in order to process and verify information provided
on your loan application. All information collected is consistent with the requirements
of the Federal National Mortgage Association (FNMA) and standard loan application
practices.
- Pre-Qualification - We collect certain personally identifiable information, including
first and last name, physical address, zip code, and email address, in order to
provide you with an official pre-qualification letter. This letter is an immediate
general analysis of your position as a borrower compared to general guidelines established
by the lenders offering products through our company.
Other information and how it is used:
We only collect the necessary general information in order to respond to your requests
for our customized products and services.
When you visit our site, our systems log some basic and anonymous information about
your computer for routine website maintenance, including:
- IP address (your computer's unique signature)
- Operating system (e.g., Windows XP)
- Browser software (e.g., Microsoft Internet Explorer, Firefox)
Do we share your information?
When you submit a loan application, the information provided is stored in our databases
and processed by our employees. An employee will contact you via telephone to confirm
receipt of your online loan application and send you additional documents, via postal
mail, to facilitate the funding of your loan. Our employees may also disclose certain
information to our authorized agents to obtain the following services:
- automated credit check reporting
- loan underwriting
- title searches
- mortgage insurance
- appraisals
- settlement company information
In some circumstances we may be required as part of the loan funding process to
contact certain third parties, such as your employer or financial institution, to
obtain independent verification of various loan related information. After our authorized
agents receive your information, they may contact you directly.
We are required by federal and state banking regulations to collect certain information
on the online loan application. In addition, we will disclose information collected
to our authorized agents in order to independently verify and process your loan
application. The use of credit report information obtained by us and our authorized
credit reporting agencies is governed by the federal Fair Credit Reporting Act.
We will also disclose the name of the lending institution to the consumer in the
loan details section of the search for rates results page.
As certain aggregate information must be reported to state and federal regulatory
agencies, we cannot process any requests to delete loan application information
from our systems, regardless of whether the loan is funded.
We provide you with the opportunity to cancel your RateWatchers™ services at any
time.
Ongoing improvement and compliance
In an effort to enhance our site services and ensure compliance with federal and
state banking regulations and internal policies, First Residential Mortgage Services
Copr. may use outside third parties to perform quality control reviews. When you
sign the Universal Residential Loan Application, you grant First Residential Mortgage
Services Copr. permission to include your loan file in these quality reviews.
By using our site, you consent to our collection and use of your information. Any
changes to our policy will be reflected on this page so that you are always aware
of the information we collect and how we use it.
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