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Spectrum-Canada Mortgage Services Inc. is licensed as a mortgage broker under the Mortgage Brokers Act and pursuant to the Financial Institutions Commission - License number: X027170 and is also authorized to handle trust funds. Spectrum-Canada Mortgage Services Inc. is licensed as a mortgage administrator in Ontario under the Mortgage Brokerage, Lenders, and Administrators Act and pursuant to the Financial Services Commission of Ontario - License number: 12045. Spectrum-Canada Mortgage Services Inc. is licensed as a mortgage broker in Ontario Under the Mortgage Brokerage, Lenders, and Administrators Act and pursuant to the Financial Services Commission of Ontario - License number: 10832. Spectrum-Canada Mortgages Services Inc. is licensed as a mortgage broker in Alberta under the Real Estate Act and pursuant to the Real Estate Council of Alberta with its registered office in Edmonton. Spectrum-Canada Mortgages Services Inc. is licensed to carry on business as a financing corporation with respect to mortgage administrator activities and mortgage brokerage activities in Saskatchewan under The Trust and Loan Corporation Act, 1997 and pursuant to the Financial Services Commission - License number: 316067. Spectrum-Canada Mortgages Services Inc. is licensed in New Brunswick under the Cost of Credit Disclosure Act and pursuant to the Department of Justice and Consumer Affairs – License number: 81235. Spectrum-Canada Mortgages Services Inc. is licensed as a mortgage broker in British Columbia under the Financial Institutions Commission – License number: X027170 and is authorized to handle trust funds.
Collecting and using information:
Either before or when we collect information about you, we will explain how we intend to use it. We will limit the information we collect to what we need for those purposes, and we will use it only for those purposes. We will obtain your consent if we wish to use your information for any other purpose and before collecting information from third parties such as credit bureaus.
Your information is also used in order to satisfy valid information requests from regulators and other organizations or individuals who are legally entitled to make such requests.
We may provide your information to other persons:
- Where we have your consent
- Where the other parties are our suppliers or agents who assist us in serving you
- Where we are required or permitted to do so by law or applicable regulators and self-regulatory organizations
- Where transfers of a business are involved
We will protect your information with appropriate safeguards and security measures. We will retain your information only for the time it is required for the purposes we explain.
Providing information access and accuracy
We will give you access to the information we retain about you. We will make every reasonable effort to keep your information accurate and up-to-date.
Respecting and responding to your privacy concerns
Why we ask for your information
We ask you for information to establish and serve you as our client.
We obtain most of our information about you directly from you. The information we ask for depends on which product or service you want. For every product or service, we need your name, address, birth date, occupation and some identification. Here is why we need some of the other information we ask you to provide.
This helps us identify you and ensure that no one is trying to impersonate you. We may also use it to determine your eligibility for products and services that may be of benefit to a particular age group.
- Social Insurance Number (SIN)
Your SIN is required in order to obtain credit information from credit reporting bureaus. If you provide your SIN, we also use it to keep your information separate from that of other clients with a similar name, including information we obtain with your consent through the credit approval process.
This is used to assess your eligibility for a mortgage or other credit product. We will use your financial information to help us serve you as a client and meet your financial needs.
This is required for some mortgage insurance products to ensure you are eligible for coverage. The health-related information you provide in connection with an insurance product may be shared with administrators or service providers of the insurance operations to process your insurance transaction.
We only collect the information we need and only use it for the purposes explained to you.
When you apply for a new product or service, we will indicate in the application or agreement how we intend to use your information. We will only ask for the information we need for that particular product or service. We will indicate clearly which information would help us to serve you but is optional for you to provide.
When we release your information
We may release your information to parties outside Spectrum-Canada in certain circumstances, which include:
On an ongoing basis, we will disclose your credit history with us to other lenders or credit reporting agencies in order to support the credit process. We release only the information required to identify you, as well as facts from our credit records about your repayment history.
When we are administering a mortgage we may disclose information to help us collect a debt owed to us by you.
- When required or permitted to do so by law or applicable regulators and self-regulatory organizations
We must give information in response to a valid demand, search warrant or other legally valid enquiry or order. This may include legally valid requests from regulators to ensure Spectrum-Canada is in compliance with applicable financial regulations.
We may also disclose information to an investigative body in the case of a breach of agreement or contravention of law - this helps prevent fraud, money laundering or other criminal activity.
- How we protect your information
We will protect your information with appropriate safeguards and security measures.
Spectrum-Canada protects the personal information in its custody or control by making reasonable security arrangements to prevent unauthorized access, collection, use, disclosure, copying, modification, disposal or similar risks.
Spectrum-Canada will take reasonable steps, through contractual or other reasonable means, to ensure that a comparable level of personal information protection is implemented by the suppliers and agents who assist in providing services to you. Some specific safeguards include:
- Physical measures such as locked filing cabinets;
- Organizational measures such as restricting employee access to files and databases as appropriate;
- Electronic measures such as passwords and firewalls;
- Regular reviews of processes in place to safeguard personal information; and
- Investigative measures where Spectrum-Canada has reasonable grounds to believe that personal information is being inappropriately collected, used or disclosed.
Confidentiality and security are not assured when information is transmitted through e-mail or other wireless communication. Spectrum-Canada will not be responsible for any loss or damage suffered as a result of a breach of security and/or confidentiality when you transmit information to Spectrum-Canada by e-mail or other wireless communication or when Spectrum-Canada transmits such information by such means at your request.
The length of time we retain information varies depending on the product or service and the nature of the information. This period may extend beyond the end of your relationship with us but only for so long as it is legally necessary for us to have sufficient information to respond to any issue that may arise at a later date. When your information is no longer needed for the purposes explained to you, we have procedures to destroy, delete, erase or convert it to an anonymous form.
Your right to access your information
You have a right to access your personal information held by Spectrum-Canada.
Your information, such as copies of applications and account agreements will be provided upon request and authentication of identity.
Upon written request and authentication of identity, Spectrum-Canada will provide you with your other personal information under its control, information about the ways in which that information is being used and a description of the individuals and organizations to whom that information has been disclosed.
Spectrum-Canada may charge a reasonable fee for providing information in response to a PIPA access request and will provide an estimate of any such fee upon receiving an access to information request. Spectrum-Canada may require a deposit for all or part of the fee.
Spectrum-Canada will make the information available within 30 days or provide written notice where additional time is required to fulfill the request.
In some situations, Spectrum-Canada may not be able to provide access to certain personal information. This may be the case where, for example, disclosure would reveal personal information about another individual, the personal information is protected by solicitor/client privilege, the information was collected for the purposes of an investigation or where disclosure of the information would reveal confidential commercial information that, if disclosed, could harm the competitive position of Spectrum-Canada. Spectrum-Canada may also be prevented by law from providing access to certain personal information.
Where an access request is refused, Spectrum-Canada will notify you in writing, document the reasons for refusal and outline further steps which are available to you.
Spectrum-Canada will make a reasonable effort to ensure that personal information it is using or disclosing is accurate and complete. In some cases, Spectrum-Canada relies on you to ensure that certain information, such as your address or telephone number, is current, complete and accurate.
If you demonstrate the inaccuracy or incompleteness of personal information, Spectrum-Canada will amend the information as required. If appropriate, Spectrum-Canada will send the amended information to third parties to whom the information has been disclosed.
When a challenge regarding the accuracy of personal information is not resolved to your satisfaction, Spectrum-Canada will annotate the personal information under its control with a note that the correction was requested but not made.
Compliance & Complaint Procedures
Spectrum-Canada will, on request, provide information regarding its complaint procedures.
Any inquiries, complaints or questions regarding this Policy should be directed in writing to the Spectrum-Canada Privacy Officer.
Spectrum-Canada will give appropriate notice of any amendments to this Policy.
Spectrum-Canada Mortgage Services Inc.
201-3920 Norland Avenue
Tel: 1 877 253-4377
Fax: 1 888 488-9922
EMAIL OUR PRIVACY OFFICER
In this Policy:
Spectrum-Canada means Spectrum-Canada Mortgage Services Inc. and all subsidiaries, affiliates and divisions of Spectrum-Canada Mortgage Services Inc.,
"Collection" means the act of gathering, acquiring, or obtaining personal information from any source, including third parties, by any means.
"Consent" means voluntary agreement to the collection, use and disclosure of personal information for specified purposes. Consent may be express or implied. Express consent can be given orally or in writing, it is unequivocal and does not require any inference on the part of Spectrum-Canada. Implied consent exists when Spectrum-Canada can reasonably infer consent based upon your action or inaction.
"Disclosure" means making personal information available to a third party.
"Personal information" means information about an identifiable individual but does not include business contact information of an individual. Personal information does not include information that is about corporate or commercial entities. It also does not include information that cannot be associated with a specific individual.
"PIPA" means the British Columbia Personal Information Protection Act S.B.C. 2003, c.63.
"Third party" means an individual or organization other than Spectrum-Canada and you.
"Privacy Officer" means an individual designated by Spectrum-Canada who is accountable for Spectrum-Canada’s compliance with this Policy and who can be contacted as set out at the end of this Policy.
"Use" means the treatment and handling of personal information by and within Spectrum-Canada.