TheBroker.ca Ltd. is dedicated to safeguarding the privacy and confidentiality of our clients’ personal information. We recognize our professional obligation to maintain the utmost discretion in handling the information we receive as a financial services provider.
Why TheBroker.ca Collects Personal Information
TheBroker.ca collects and utilizes Personal Information for the following purposes:
- Providing mortgage products and tailored services to our clients, including arranging and renewing loans/mortgages.
- Informing clients about group creditor insurance and other products offered or approved by TheBroker.ca or its affiliates.
- Assessing client creditworthiness through credit bureau inquiries, collaboration with employers who possess employment and/or financial information, and verification of Notices of Assessment submitted by clients with the Canada Revenue Agency (CRA).
- Offering financial guidance and keeping clients informed about developments in the mortgage market and industry.
- Auditing the services provided to our clients.
- Complying with municipal, provincial, federal, and other applicable laws.
- Fulfilling other specific purposes communicated to the client by a member of TheBroker.ca before the collection of Personal Information.
We will only use a client’s Personal Information for the purposes communicated, except when permitted by law or with the client’s consent. When Personal Information is to be used for a purpose not identified, we will take all reasonable steps to ensure the new purpose is identified prior to use.
How We Collect Personal Information
The primary source of information is our clients. With the client’s consent, we may obtain information directly from third parties to assess eligibility for financial products and services. In matters related to credit, such as assessing a client’s financial standing and credit history, it is crucial for us to have a complete understanding. This involves reaching out to other lenders, financial institutions, credit bureaus, employers and other sources.
Consent plays a vital role in this process, as without it, we would be unable to conduct the necessary inquiries, which could potentially hinder our ability to provide the requested credit product. Typically, clients provide their consent either through the specific product application forms and/or on a separate authorization form. It’s important to note that this declaration of consent is straightforward and leaves no room for ambiguity.
Use and Disclosure of Personal Information
We will use a client’s Personal Information to provide financial advice and services, administer mortgages, include clients in direct marketing activities, and for other purposes described under “Why TheBroker.ca Collects Personal Information.”
Personal Information may be used, shared, and disclosed to, from, or with, the members of TheBroker.ca, witnesses in a litigation proceeding, experts retained on a Client’s behalf, private investigators, employees retained on behalf of a Client, credit reporting agencies, credit bureaus, as well as such other third parties as are necessary to facilitate the matter for which the Client has retained our office and provided its consent, and such disclosures will occur under specific circumstances outlined in the policy.
TheBroker.ca might disclose Personal Information when:
- It’s required or authorized by the law, such as when a court issues a subpoena.
- A Client gives their consent for the disclosure.
- When providing mortgage services to a Client that necessitates sharing their Personal Information with a third party, the Client’s consent is presumed unless they state otherwise.
- When it’s necessary to access a credit bureau for processing a mortgage transaction.
- To safeguard TheBroker.ca’s best interests.
- To protect public interests, like reporting criminal activities such as fraud or money laundering, in which case authorities are notified and personal information may be disclosed.
- If we engage a law firm(s) to represent us for any reason.
- When the information is already publicly known.
Limiting Collection and Retention of Personal Information
TheBroker.ca will retain Personal Information only for so long as it is needed to fulfill the purposes for which it was obtained and to meet our professional requirements as set out by our governing regulatory bodies and/or any other legal requirement, statutory or otherwise, from time to time. Clients have the right to request corrections to their data.
TheBroker.ca strives to ensure that Client’s Personal Information is accurate, complete, and up-to-date as necessary for the purposes for which it is used.
TheBroker.ca strives to maintain adequate safeguards to protect against loss, theft, unauthorized access, disclosure, copying, use, or modification of Clients’ Personal Information. TheBroker.ca uses various methods to safeguard personal information, including physical security, computer and electronic security, destruction of information no longer needed, and contractual protections with third-party data processors.
Client lists are never passed on to third parties, both current and former clients. When they are hired, our employees must undertake to respect the confidential nature of client information. Only employees and associates who need to view the file as part of their work have access to this information.
Accountability, Openness, and Client Access
The Chief Privacy Officer or those designated by the Chief Privacy Officer to address and investigate questions or concerns regarding a Client’s privacy can be reached at:
Attn: Chief Privacy Officer
2109 Ottawa Street, Unit 1070b
Windsor, ON N8Y 1R8