Privacy and consent

At Multi-Prêts takes pride in the policies and procedures used to protect the personal information collected and maintained on behalf of our clients. Access to personal information is granted to our agents under the Personal Information Protection and Electronic Documents Act (PIPEDA). 

Collection and Use of Information 

To better understand your financial needs and make you aware of new services that could help you reach your goals, Multi-Prêts collects personal information from a variety of sources. Some personal information and some reasons it is collected include, but is not limited to, are:

1. Data such as name, address, contact numbers, email contact, income, employment, age, net worth, investment objectives, and banking information; 
2. Unique identifiers: such as social insurance, driver’s license, passport numbers, etc.; used to fulfill regulatory and other governmental obligations to distinguish you from other clients with similar names; 
3. Information from a consumer reporting agency or other source, which may include account information and/or information about your creditworthiness. Multi-Prêts uses this information to help determine the mortgage product that is suitable for your mortgage needs.

Multi-Prêts collects this information in order to provide the services you have requested, and to help us determine how Multi-Prêts or other non-affiliated companies may be of service to you. 

Guidelines for Disclosure of Information 

1. Multi-Prêts may provide information to credit bureau agencies, financial institutions, insurers, private investors, creditor life company etc. 
2. Multi-Prêts shall use the information to determine your financial situation for purposes related to services that you have requested from Multi-Prêts. Multi-Prêts may also provide the information to others that work for Multi-Prêts, but only as needed for the provision of those services. 
3. Multi-Prêts shall use your social insurance number as an aid to identify you with credit bureau agencies and financial institutions for credit history file matching purposes. 
4. Multi-Prêts may use your information to promote Multi-Prêts services to you. 

Multi-Prêts will not use or disclose personal information for purposes other than those for which it was collected, except with the consent of the individual(s) or as required by law. Files are kept a minimum of three (3) years.

Ongoing Commitment 

Confidentiality is the key to a strong relationship and Multi-Prêts is committed to protecting your privacy. This privacy statement is always available on our website www.multi-prets.com. 

Suitability

I/We are aware of:

1. How a variable rate mortgage and its’ applicable mortgage payment may increase without notice within the term of the mortgage. This may affect the ability to make mortgage payments 
2. How terminating or prepaying a mortgage prior to maturity term may involve prepayment penalties. How different mortgage products can vary with various prepayment options. 
3. How changes in my/our employment (eg. reduced income), credit, liabilities, etc. may affect the ability to make mortgage payments in the future and/or changes prior to closing could affect me/us not qualifying for the mortgage. 
4. The amount of monthly mortgage payment of PI&T will be discussed with my agent based my/our current personal financial obligations (include condo fees if applicable) 
5. The benefits of creditor mortgage protection. 
6. The inherent risks associated with mortgages. The agent has evaluated my/our needs to assist in determining the most appropriate mortgage including to offer to assist in preparing a budget.

Credit Bureau Consent

I/We the undersigned, declare the information provided is a true and complete representation. I/We understand that it is being used to determine my/our credit responsibility and to evaluate my/our request for credit. I/We authorize Multi-Prêts or their designate to obtain a credit report. I/We acknowledge that the completion of a credit application may take time and it might entail additional credit reports.

I/We permit additional credit reports for up to six (6) months from the date signed below.

I/We also authorize Multi-Prêts to exchange such credit information for the purpose of securing credit with potential mortgage lenders, mortgage insurers or other service providers. Multi-Prêts may retain the application and credit information. 

Canada Anti-Spam Legislation 

Multi-Prêts and its business partners will keep in touch via electronic messaging to provide the requested services and may also occasionally communicate with you to provide insightful information on Multi-Prêts products and services, on mortgages, finances etc as permitted by the Canada Anti-Spam Legislation. Please take note that you can unsubscribe at any time. All of our electronic communications include an unsubscribe mechanism.