Introduction-Protecting Your Privacy
We know that protecting your privacy is a very sensitive and important matter to you. Safeguarding your privacy is also a very important concern to Homestead. Homestead realizes that it will obtain access to confidential personal information about our consumers and customers as part of a mortgage loan transaction. Needless to say, protecting your privacy, by establishing policies, procedures and practices and other safeguards designed to prevent any unauthorized access to this confidential personal information is a top priority at Homestead.
What Information Homestead Collects:
Homestead collects nonpublic personal information about its employees, consumers and customers from the following sources:
· Information we receive from you during conversations with our employees, whether in person or over the telephone, or on applications or other documents you send to us;
· Information we receive as a result of your contact with our web site;
· Information we receive from a consumer reporting agency regarding your credit;
· Information we receive pursuant to your authorization from your present or former employers, banking institutions, mortgage servicers, landlords, and investments firms and other financial service entities;
· Information about your transactions with us and third parties;
· Information from sub-servicing companies who service mortgage loans for us;
· Information from investors who purchase mortgage loans from Homestead;
· Information received from public or governmental sources.
Information We Disclose About Our Employees, Consumers, Customers and Former Customers:
We do NOT disclose ANY nonpublic personal information about our present or former employees, consumers or customers to anyone, except as permitted by law. Although we are permitted by law to share information with our affiliates, we have elected not to share information with them, unless you provide us with an express authorization. As a result of the foregoing, there is no right or need to opt-out.
The Confidentiality, Security, and Integrity of Your Nonpublic Personal Information:
We restrict access to your nonpublic personal information to those employees who need to know that information to provide mortgage loan products or services to you and to those third parties who are necessary to process, underwrite, close or service your mortgage loan. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information from unauthorized access.
As used herein, the following terms are intended to have the meanings expressed below:
When we use the words “you” and “your”, or “customer”, we mean the following types of customers, who have a continuing relationship with Homestead, such as:
· All of our borrowers, or prospective borrowers, for a mortgage loan obtained through Homestead in its name acting as a mortgage banker; or
· All of our borrowers and prospective borrowers for a mortgage loan arranged through us with a different lender, with Homestead acting as the mortgage broker; or
· All of the mortgagors of mortgages we own and service or arrange to have sub-serviced in our name.
Nonpublic personal information means information about you that we collect in connection with providing a financial product or service to you. Nonpublic personal information does not include information that is available from public sources, such as telephone directories or government records.
An Affiliate is a company we own or control, a company that owns or controls us, or a company that is owned or controlled by the same company that owns or controls us. Ownership does not mean complete ownership, but means owning enough of an interest (25%) to be deemed to have control.