Privacy Policy
Protecting your privacy is important to the 1stAvenue Mortgage. This notice is intended to tell you where we obtain information about you and who has access to it once it is received by us. It also tells you about your right to limit that access further.
Where we get information. Most of the information we collect about you comes directly from you – for example, the answers you provide on your loan application, such as your income, assets or debts. Information may also come from other applications, agreements or forms that you complete in order to receive our products and services.
In addition, we may obtain information about you
from a consumer-reporting agency or from other
parties (for example, your credit history or other
facts relating to creditworthiness and employment
histories).
To whom we disclose the information. We provide customer information about current or former customers from the sources described above to parties outside of the 1stAvenue Mortgage family of companies only as follows:
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We disclose information to other companies as necessary to process
your business. For example, we transmit your application information
to the company that performs your appraisal. Third parties in this
category are prohibited by agreement from using information about
you except for the narrow purpose for which we gave it to them.
- To other companies who purchase or service your mortgage. For
example, if we transfer the servicing rights of your mortgage loan,
we provide your file, including your loan application, credit
report, and other loan documents, to the loan purchaser or servicer.
Loan applicants are notified of this practice when applying for a
loan from us.
- Where required by law or regulation. Examples include responses to a
subpoena, court order or regulatory demand.
We may also disclose information about you as permitted by law, which includes each of the instances below:
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To companies who perform marketing services on our behalf or with whom we have joint marketing agreements. A company performing marketing services on our behalf would include, for example, a company that assists in a broad mailing of materials advertising our products or services. A joint marketing agreement is one where another financial institution offers a product or service jointly with us. These companies must limit their use of the information to the purpose for which it was provided.
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As authorized by you. You may direct us, for example, to send your application information to a third party.
Your right to opt out.
You can make this choice now or at any time in the future
by signing the necessary form. For customers holding joint mortgages with us, we will accept a decision from either individual. This decision will apply to both parties named in the loan documents.
Confidentiality and security. We consider all information we have about you to be confidential, including the fact that you are a customer (unless you tell us otherwise). Your information is only to be handled in the manner described in this notice. We restrict access to information about you to those employees and authorized agents who need to know that information in order to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to maintain the confidentiality of your information. We also regularly assess new technology and developments in this area and upgrade these safeguards as appropriate.
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