Skip to main content

Terms and Conditions - Lenderkey

As a new revolutionary lending suite, the Mortgage Map creates a unique way of connecting, collecting, reviewing and approving a mortgage. As a mortgage broker and agent solution, we respect the privacy of our clients and we are committed to keeping individual’s personal information confidential, secure and private. The BlockCerts Blockchain IDCERTin KYC (Know Your Customer) application and the patented “Secure Virtual Space Technology” provides an industry first solution to authenticate users on the platform. There are 4 layers of security to protect privacy:

 

1). IDCERTin Authentication.Every new contact in our system completes an on-line authentication. This ensures that everyone within the system is who they say they are, provides a simplistic background check. This eliminates the need for notaries and provides a level of fraud protection to borrowers and lenders.

2). Private Keys: Each individual is provided a 64-digit, alpha numeric private key to access the platform. This provides yet another barrier to entry to outsiders, where past passwords can fail to protect you.

3). Patented “Secure Virtual Space Technology” provides a secure connection to connected individuals in a secure private container called “The Secure Cloud”.

4). The BlockCerts Blockchain Platform provides a digital ledger and a decentralized encryption which is both bank-grade security and HIPPA and PIPA health compliant.

 

The following sections, read as a whole, comprise our Privacy Policy:

1). LenderKey Introduction

2). The Ten Principles of Privacy

3). The Application of the Ten Principles

4). Questions, Concerns, Complaints about Privacy Policy

 

LENDERKEY INTRODUCTION:

The LenderKey Map is operated as a brokerage company operating as a network of independently owned and operated mortgage brokers throughout Canada. Each mortgage broker is duly licensed as a mortgage broker in compliance with provincial laws. Broker licensees provide a variety of products and services to the public, including but not limited to Mortgage Brokerage Services. In the course of providing these products and services, mortgage broker licensees may collect certain personal information about its clients with their consent within the Mortgage Map.

“Personal Information” means information about an identifiable individual. This may include, without limitation, the individual’s name, home address, age, income, credit history or other financial information, credit card information, personal preferences and other information about his or her family. Personal Information does not include the name, title, business address or telephone number of an employee of an organization.

The Mortgage Map utilizes new “Open Banking” solutions to collect personal information, which is collected through 3rd party API’s with banking and lending institutions, government records, real estate databases, title and other resources to make an underwriting lending decision.

In the course of providing mortgage broker services to customers, mortgage broker licensees routinely share this information with others such as credit reporting agencies, financial institutions, and mortgage brokerage systems suppliers, as well as others who are directly involved in the mortgage process. Our Privacy Policy is based on, and complies with, Canada’s Personal Information Protection and Electronic Documents Act (“PIPEDA”), which includes the Ten Privacy Principles outlined in the Canadian Standards Association Model Code for the Protection of Personal Privacy. For more information about this legislation, please visit the official Web Sit of the Privacy Commission of Canada at https://www.priv.gc.ca.

This Privacy Policy describes the ten principles that mortgage broker licensees follow to ensure that we protect your Personal Information when we collect, use or disclose it in the course of carrying on commercial activities in Canada. All mortgage brokers who have access to Personal Information must adhere to our Privacy Policy and related procedures. To this end, we have appointed a Chief Privacy Officer to ensure compliance by all mortgage broker employees and to address your privacy concerns.

 

THE TEN PRINCIPLES OF PRIVACY

The following Ten Principles govern our actions as they relate to the use of Personal Information:

Principle 1 – Accountability

Principle 2 – Identifying Purposes

Principle 3 – Consent

Principle 4 – Limiting Collection

Principle 5 – Limiting Use, Disclosure and Retention

Principle 6 – Accuracy

Principle 7 – Safeguarding Personal Information

Principle 8 –Openness

Principle 9 – Access

Principle 10 – Addressing Complaints

 

PRINCIPLE 1 – ACCOUNTABILITY

Mortgage broker licenses are accountable for all Personal Information in its possession or custody, including Personal Information disclosed to third parties for purposes of providing services requested by you.

PRINCIPLE 2 – IDENTIFYING PURPOSES

Mortgage broker licensees will inform you of the purposes for which it is collecting any Personal Information, before or at the time the information is collected. The Mortgage Map provides disclosures on collection during the mortgage application or contract for services you may execute during this process or when dealing with your mortgage broker.

PRINCIPLE 3 – CONSENT

In utilizing the Mortgage Map, you are providing your consent when filling-out the mortgage lending process for providing this information to third party’s in the process of securing the necessary information for making a loan decision. Mortgage broker licensees will obtain your consent before or when it collects, uses or discloses your Personal Information.

Consent can be expressed, implied, or given through an authorized representative, or through the “open banking” 3rd party applications in the Mortgage Map solution. You may withdraw your consent at any time (subject to any legal consequences of which you will be informed). Mortgage broker, licensees, however, may collect, use or disclose Personal Information without your knowledge or consent in exceptional circumstances where such collection, use or disclosure is permitted or required by law.

PRINCIPLE 4 – LIMITING COLLECTION

The information collected by Mortgage broker licensees will be limited to those details necessary for the purposes it has identified for you or to perform the services you have requested. Information will be collected by fair and lawful means.

PRINCIPLE 5 – LIMITING USE, DISCLOSURE AND RETENTION

Personal information will only be used or disclosed for the purpose for with it was collected unless you have otherwise consented. Personal Information may only be retained for the amount of time needed to fulfill the purpose for which it was collected.

In certain exceptional circumstances, Mortgage broker licensees may have a legal duty or right to disclose Personal Information without your knowledge or consent with respect to matters that concern the company’s or the public’s interest.

PRINCIPLE 6 – ACCURACY

Mortgage broker licensees will keep Personal Information as accurate, complete and current as necessary to fulfill the identified purposes for with it was collected. You may have this information amended where it is found to be inaccurate or incomplete.

PRINCIPLE 7 – SAFEGUARDING PERSONAL INFORMATION

Personal information is safeguarded using measures appropriate to the sensitivity of the information and in keeping with generally accepted industry standards.

PRINCIPLE 8 –OPENNESS

Mortgage broker licensees will make information available to its clients, employees and mortgage brokers about the policies and procedures Mortgage broker licensees use to manage personal information. You have access to this information through the Mortgage Map and Website, or through alternate means if requested.

PRINCIPLE 9 – ACCESS

Upon written request, you will be informed of the existence, use and disclosure of your Personal Information, and will be given access to it. Mortgage broker licensees will respond to such requests as efficiently as possible. If mortgage broker licensees are prohibited from providing such access, they will explain the reasons for the lack of access, except where prohibited by law.

PRINCIPLE 10 – ADDRESSING COMPLAINTS

You may challenge Mortgage broker licensee’s compliance with this Privacy Policy. Mortgage broker licensees have policies and procedures to receive, investigate and respond to complaints and questions regarding this Privacy Policy and our collection, use and disclosure of Personal Information. You may contact the Privacy Officer to express any concerns or to request access to your Personal Information. The contact information for this individual is provided at the end of this document.

Application of the Ten Privacy Principles – How we treat your personal information:

THE KIND OF INFORMATION WE COLLECT

Mortgage broker licensees gather and use Personal Information in order to provide you with the products and services you have requested, namely:

Information that is required to effectively provide mortgage brokerage services and lending services and to ensure that you are satisfied with the products and services we have provided. We may also use your Personal Information to update you about our services and to offer you additional products or services that you may be interested in, so that we may continue to serve your needs.

If you visit the Mortgage Map or our Licensees Web sites, we do not collect personally identifiable information about you unless you provide it. All information that you do provide us with is securely maintained and kept strictly confidential. This Privacy Policy does not apply to aggregated data from with it is not possible to determine the identity of a specific individual. Mortgage broker licensees reserve the right to use aggregated data in any way that it determines appropriate.

HOW WE USE YOUR INFORMATION

We use Personal Information for three general purposes:

  1. To communicate with you in order to provide you with our products and services
  2. For inclusion in documentation relating to your particular financial transaction.
  3. Transactional information to monitor our level of service and report back to you to ensure your satisfaction with the provision of such services.

We will only use Personal Information for the purpose that we have disclosed to you. If we want to use your information for a different purpose, we will notify you and ask for you consent first.

When We are Permitted to Disclose Your Information

Mortgage broker licensees are obligated to keep your Personal Information confidential except under the following circumstances:

 

1. When Authorized by You

Many of the service offered by Mortgage broker licensees require us to obtain Personal Information about you in order to perform the services you have engaged us to provide. We will always obtain consent from you first, and the Mortgage Map provides a consent disclosure.

2. When Required by Law

The type of information we are legally required to disclose usually relates to government tax reporting requirements. However, in some cases, such as under a court order, we may be required to disclose certain information to persons specified in the court order. We will only provide the specific information requested and only upon being satisfied that the authorities have legitimate grounds to request the information.

3. When Permitted by Law

The legislation has provided certain situations where Mortgage broker licensees are legally permitted to disclose Personal Information without your consent. Examples include situations involving the collection of debt in arrears, medical emergencies, or suspicion of illegal activities.

 

WITH WHOM WE MAY SHARE YOUR INFORMATION

1. Mortgage broker licensees: In the course of daily operations, access to sensitive Personal Information is limited to our employees, Licensees, Brokers and Agents with a legitimate reason for accessing it. As a condition of the mortgage broker license agreement, mortgage broker licensees and their respective employees and agents are required to follow all applicable laws and regulations, including this Privacy Policy. Unauthorized use or disclosure of confidential client information by any mortgage broker licensee is prohibited and may result in disciplinary measures by us such as termination of the license.

2. Broker Affiliates: In order to better meet your needs, we may share some of your Personal Information with our affinities and 3rd parties to provide your services. The procedure for withdrawing your consent is outlined below under the section “Opting Out”.

3. Third Party Suppliers: As you may know, we may engage and coordinate third party suppliers to provide you with certain services offered through us. Such suppliers are only given the information that is needed to provide the specific service for which we contract them to provide. Suppliers are obligated to protect the confidentiality of your Personal Information and are prohibited from doing anything with this information that we have not authorized them to do. They are required to treat your Personal Information in a manner consistent with the Mortgage Broker Privacy Policy.

4. Sale of Business: We may transfer your personally identifiable information to a third party in connection with a sale, merger or other disposition (whether of assets, stock or otherwise) or our business.

 

HOW WE SAFEGUARD INFORMATION

Mortgage broker licensees have extensive controls in place to maintain the security of its information and information systems. As stated in the above BlockCerts Blockchain Mortgage Map Security area, this revolutionary new mapping process uses the latest blockchain technology to safeguard and protect your information.

Client and independent broker files are stored in the Mortgage Map system and according to the sensitivity of the information contained therein. Appropriate controls (such as restricted access) are placed on our computer systems and data processing procedures. Private Keys are used by Mortgage brokers to access the Mortgage Map system. Physical access to areas where Personal Information is gathered, processed or stored, is limited to authorized persons.

When you telephone mortgage broker licensees to speak about your file, you may be asked for some personally identifying information. This type of safeguard is designed to ensure that only you, or someone authorized by you, has access to your file.

 

Web Site Security

In order to serve you better, Mortgage broker licensees offers clients access to certain information through its’ Web site. This Web site contains links to other Web sites, including those of its licensees and business partners. We are in no way responsible and cannot guarantee the content or privacy of other sites linking from this website.

ACCESSING AND AMENDING YOUR INFORMATION

As a mortgage broker licensee client, you have the right to access the Personal Information we keep in your file and you have the right to verify or amend the information if it is shown to be inaccurate. One of the benefits of the Mortgage Map is the ability to access and review your information, through your private key, inside the Mortgage Map.

OPTING OUT

In order to provide you with our services and products, Mortgage broker licensees will, with your consent, contact you to provide you with information on our products and services and may share your personal information with other affiliates. Should you decide to “Opt Out” from receiving promotional materials from or have your Personal Information shared with these companies, please contact the Privacy Officer at the address, phone number or email address provided at the end of this document.

ANONYMOUS INFORMATION AND COOKIES

Web servers may record certain information automatically when you visit our Web sites. This information is collected using “cookies” and might include the pages you visited, your IP (Internet Protocol) address and other site usage statistics. This anonymous information is used for research and analytical purposes only (like evaluating how many visitors our Web sites receive or which pages they visit most often). It does not reveal any Personal Information about you, the user. This aggregate data may be disclosed to third parties, but never with personally identifying information.

“Cookies”

Cookies are small text files that contain a unique identification number that allows our computers to identify your Web browser (but not you) each time you visit one of our Web sites that uses cookies. The information helps Mortgage broker licensees improve their functionality of the site and enhance the navigation and security of your session. Most major Web sites use this technology and most browsers are set up to accept or reject them via user controls.

You may configure your browser to notify you when you receive a cookie, and you may refuse to accept them entirely. However, if you refuse to accept cookies, you may limit the functionality that we can provide to you when you visit our site.

 

QUESTIONS, CONCERNS AND COMPLAINTS

If you have any questions, concerns or complaints about your Personal Information, or about our mortgage broker Privacy Policy, please contact us.

This website uses cookies to ensure you get the best experience on our website.
Learn more

Back to top