Velora Mortgage is committed to protecting the privacy and security of your personal and financial information. This policy describes how we collect, use, and share information when you visit our website, apply for a loan, or use our services.
- Information We Collect
We collect information that may personally identify you (“Personal Information”). This is broadly divided into three categories:
- Information Provided by You
This includes all information you submit to us during the application process, through our website forms, or via phone/email:
- Identification Data: Name, address, telephone number(s), email address, Social Security Number, and date of birth.
- Financial Data: Income, employment history, assets (bank statements, investment accounts), liabilities, credit history, and tax documentation.
- Property Data: Information regarding the property securing the loan (address, value, rental income, and details for investment or commercial properties).
- Account Credentials: Usernames and passwords for online portals, if applicable.
- Information Collected from Third Parties
We collect information about you from outside sources during the processing of your loan:
- Credit Bureaus: Credit scores, credit reports, and related data.
- Title and Escrow Companies: Property information, transaction details, and closing documents.
- Appraisal Companies: Property valuations and appraisal reports.
- Lenders/Wholesale Channels: Information related to your loan approval and pricing through our broker and lender partners.
- Website & Technical Data
When you visit our website, we automatically collect:
- Usage Information: IP address, browser type, operating system, and pages viewed.
- Cookies: Small data files stored on your device to track site activity, maintain login sessions, and personalize your experience.
- How We Use Your Information
We use your Personal Information for legitimate business purposes, primarily to service your needs as a mortgage provider:
- Loan Processing: To process, underwrite, and close your loan application, including verifying income, employment, and credit history.
- Service Delivery: To communicate with you regarding your application status, provide rate quotes, and manage your account.
- Lender/Broker Submission: To submit your loan application to appropriate lenders within our wholesale network or underwrite it through our in-house lending desk to secure the best rates and terms.
- Legal & Regulatory Compliance: To comply with federal and state laws (e.g., HMDA, GLBA, Dodd-Frank Act) and regulatory inquiries in the 44 states where we are licensed.
- Marketing: To provide you with information about other products and services we offer, consistent with your stated communication preferences.
- How We Share Your Information
We will only share your Personal Information as necessary to process your transaction, comply with the law, or as otherwise disclosed below:
- Financial Service Providers: We share your information with lenders, title companies, appraisers, servicers, and investors necessary for originating, closing, and servicing your loan.
- Affiliates & Non-Affiliates: We may share certain information with non-affiliated third-party service providers (e.g., IT, cloud storage, marketing platforms) who assist us in operating our business.
- Legal Requirements: We disclose information when legally required by governmental authorities, subpoenas, or to prevent fraud or illegal activities.
- Security of Your Information
We maintain physical, electronic, and procedural safeguards to protect your Personal Information. These measures include secure servers, encryption technology, firewalls, and employee training on data security procedures. We restrict access to your personal information to those employees who need to know that information to provide products or services to you.
- Customer Rights & Opt-Out
- Opt-Out of Marketing Communications
You have the right to opt-out of receiving future marketing communications from us. If you wish to stop receiving marketing emails, please use the “unsubscribe” link located at the bottom of our emails or contact us directly using the information below.
- State-Specific Rights
Depending on the state in which you reside, you may have additional rights regarding access, deletion, or correction of your personal information. Please contact us for specific details.
- Changes to This Policy
We reserve the right to modify this Privacy Policy at any time. We will notify you of any material changes by posting the new policy on our website with a new effective date.
- Contact Us
If you have any questions about this Privacy Policy or our data practices, please contact us at:
Velora Mortgage Email: info@veloramortgage.com
