Privacy Policy

Silver Fund Mortgage Investment Corporation and its affiliates (variously ‘we’ or ‘us’) recognizes the importance of protecting individual privacy and the sensitivity and confidentiality of personal information. This Privacy Policy outlines how we manage mortgagor and investor personal information and safeguards individual privacy.

Our Privacy Code is part of this policy, and defines our adherence to principles of personal information management.

Collecting Your Personal Information

We collects personal information from you, from your interactions with us, and from other sources outside our organization including from social media sources, data and credit collection sources and employer enquiries for the purpose of making credit decisions about potential customers, to confirm identity and to prevent fraud and money laundering, to verify identity, employment and income, understand customer needs, determine suitability or eligibility of products and services, comply with applicable laws, collect on outstanding debt or administer a file.

When you apply for, provide a guarantee in respect of, use any product or service or otherwise conduct business with us and while you are our current or former client, we collect personal information about you such as:

  • information establishing your identity (such as your name, address, occupation, date of birth and other identification required by law)
  • information about your financial status including your income, employment status, assets, liabilities and credit history
  • information reflecting your business dealings with us
  • information about your transactions, including payment history and account activity
  • information about your browsing activity, browser and device
  • information about your nationality (to comply with regulatory requirements for deposit-related products)
  • information about beneficial owners, intermediaries and other parties which is required by law
  • other information that we may need in order to provide you with a specific product or service (e.g., personal health information for insurance-related products that may be offered to you)
  • other information with your consent, or as permitted or required by law

We may monitor and/or record communication between you and our representatives (e.g., telephone discussions, email conversations).

Consent

Per the Privacy Code, we will seek consent before collecting personal information.  Generally, you will be asked to provide written consent, but in some circumstances, we may accept verbal consent or determine that consent is implied through your conduct.

Using Your Personal Information

We may use your personal information for the following purposes:

  • to verify your identity, including checking your name against Canadian and foreign watch lists
  • to evaluate your current and ongoing creditworthiness, including by obtaining credit reports
  • to evaluate and process your application, account, transaction and reports
  • to provide you with products and services you have requested
  • to communicate with you, including to respond to your inquiries
  • to understand your product and service requirements
  • to market a product or service directly, through an affiliate or through another institution with whom we have a strategic alliance
  • to determine your eligibility for some of our products and services and offer them to you
  • to help manage and assess our risks, operations and relationship with you
  • to protect you and us against fraud and error
  • in order to help detect, prevent or deter fraud, money laundering, terrorist or other criminal activity
  • to maintain the accuracy and integrity of information held by a credit reporting agency
  • to comply with legal, regulatory, governmental and contractual requirements
  • where it is necessary to establish or collect amounts owed to us

 

Sharing Your Personal Information

We may share your personal information:

  • if we engage a third party to provide administrative services
  • with our employees, agents and service providers NOTE:  Some of our service providers may be located outside of Canada and as such your personal information may be accessible to governmental, national security and regulatory authorities in accordance with the laws of these jurisdictions
  • with other financial institutions to process payments or to verify information such as your identity
  • with payment card networks in order to operate or administer the payment card system that supports the products, services or accounts you may have with us
  • in response to a court order, search warrant or other demand or request we believe to be valid
  • to meet requests for information from regulators
  • to satisfy legal, audit, insurance  and regulatory requirements applicable to us
  • with collection agencies, originating brokers or other third parties to help us collect a debt or enforce an obligation owed to us by you
  • with any person or organization, including an investigative body, in order to prevent, detect or suppress financial abuse, fraud, criminal activity, protect our assets and interests, assist us with any internal or external investigation into potentially illegal or suspicious activity or manage, defend or settle any actual or potential loss
  • with your consent (e.g., with another individual on a joint account)
  • if the information is already publicly known
  • if we sell, pledge or assign a mortgage or loan, or securitize it, sell parts of our business, or merge or amalgamate with other entities we may release the information we hold to the prospective purchaser or assignee as part of due diligence and on completion of the transaction, subject to confidentiality restrictions
  • with other lenders, mortgage insurers, and credit reporting agencies to support the credit process, product administration or servicing and credit collection process

Updating Your Information

Since we uses personal information to provide services, it is important that the information be accurate and up-to-date. If any information changes, you should inform us so that we can make any necessary changes. Please be prepared to verify your identity when updating or changing your personal information.

Access to Personal Information

Subject to contractual and legal restrictions as well as reasonable notice, you may request access to or correction of the personal information we hold about you at any time by submitting a written request to Silver Fund Mortgage Investment Corporation’s senior management. Please be prepared to verify your identity upon making such a request. We will respond to your access request within 30 days of receiving all necessary information, or advise you if we require additional time. Summary information is available on request but more detailed requests, which may require archive or other retrieval costs, may be subject to a reasonable administration fee.

We may deny access to personal information in some circumstances including, but not limited to: when denial of access is required or authorized by law; when granting access would have an unreasonable impact on other people’s privacy; when it is subject to solicitor- client privilege; when it has already been destroyed due to legal requirements or as provided for in this Privacy Policy; or to protect our rights and property. If this is the case, we will inform you of the reasons that we were unable to provide you access.  

Retention of Information

We will retain personal information only for as long we believe it necessary to fulfill the purpose for which it was collected and to fulfill legal or business retention requirements. This may include customer service, legal or regulatory needs that require us to keep your Personal Information beyond the end of your relationship with us.

When your Personal Information is no longer required, we will securely destroy it or convert it to an anonymous form.

Protecting Your Personal Information

We endeavor to maintain adequate physical, procedural and technical security with respect to its offices and information storage facilities so as to prevent any loss, misuse, unauthorized access, disclosure or modification of personal information.

Authorized brokers, agents and mandataries will have access to your personal information in order to perform their job functions.

If your personal information is shared with service providers, they will be bound by appropriate agreements with we holding them to appropriate privacy standards.

Amendments

We retain the right to amend this Privacy Policy from time to time. We encourage you to review our Privacy Policy whenever you interact with us to stay informed about our information practices, as your continued use of our services or provision of personal information constitutes your acceptance of any changes made to the Policy.

  • +1 416.840.9506
  • info@silverfundcorp.com
  • Mon - Fri: 9:00am - 5:00pm EST
  • Administrator License # 12641

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