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Lender Privacy Notice
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Information we receive from you on applications, letters of engagement,
forms found on our website, correspondence, or conversations, including, but not limited
to, your name, address, phone number, social security number, date of birth, bank records,
salary information, the income and expenses associated with the subject property, the sale
price of the subject property, and the details of any financing on the subject property;
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Information about your transactions with us, our affiliates or others,
including, but not limited to, payments history, parties to transactions and other
financial information;
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Information we receive from a consumer reporting agency such as a credit
history.
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What information we disclose: Except as described below, we do not
share nonpublic personal information. We will not rent, sell, trade, or otherwise release
or disclose any personal information about you. We will not disclose consumer information
to any third party for use in telemarketing, direct mail or other marketing purposes.
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We may share information when it is necessary or required to process a
loan or other financial transaction;
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We may share information when it is required or permitted by law, such as
to protect you against fraud or in response to a subpoena;
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Companies that perform marketing services on our behalf; or
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Other financial institutions for the limited purpose of jointly offering,
endorsing or sponsoring a financial product or service.
Confidentiality and Security Policy
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We consider privacy to be fundamental to our relationship with clients. We are committed
to maintaining the confidentiality, integrity and security of clients' personal
information. Internal policies have been developed to protect this confidentiality, while
allowing client needs to be served.
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We restrict access to personal information to authorized individuals who need to know
this information to provide service and products for you. We maintain physical,
electronic, and procedural safeguards that comply with federal standards to protect your
nonpublic personal information. We do not disclose this information about you or any
former consumers or customers to anyone, except as permitted by law. The law permits us to
share this information with our affiliates. The law also permits us to share this
information with companies that perform marketing services for us, or other financial
institutions that have joint marketing agreements with us.
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When we share nonpublic information referred to above, the information is made available
for limited purposes and under controlled circumstances. We require third parties to
comply with our standards for security and confidentiality. We do not permit use of
consumer/customer information for any other purpose nor do we permit third parties to
rent, sell, trade or otherwise release or disclose information to any other party.
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WARNING! |
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(ARM) Adjustable Rate
Mortgage Holders!
New credit reporting
criteria!
A new credit-scoring system that rates
borrowers based on the type of mortgage they have could
cause people with adjustable mortgages to pay higher
interest rates on everything from credit cards to car
loans.
Some financial experts, however, say this system bears a
close resemblance to so-called universal default, which
allows a credit card company to raise a customer's
interest rate if he makes a late payment with another
creditor.
"This is pretty much going to be all that credit card
companies, student loan companies, auto lenders and
other banks need to charge customers higher rates solely
based on the kind of mortgages they have," said Lynnette
Khalfani, a former reporter for t e Wall Street Journal
and CNBC, and author of "Zero Debt." "Folks who were
teased and seduced to sign up for ARMs just two years
ago are paying for that decision in ways they never
imagined," Mrs. Khalfani said. "You could never fathom
it would cause higher rates on credit cards and higher
payments too. That smacks of unfairness to the
consumer." Not everyone with ARMs is struggling to make
ends meet.
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