Privacy is of the utmost importance to Reverse Freedom Mortgage. We are committed to protecting the privacy and information of all clients. This policy is made available to share with our clients how we collect, use and protect your personal information.
Reverse Freedom Mortgage does not share or sell your personal information for any reason. Any information shared with third parties is done with total protection of sensitive information and is only shared for the necessary purpose of processing loans.
REVERSE FREEDOM MORTGAGE & YOUR PERSONAL INFORMATION
Financial companies choose how to share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how our company collects, shares, and protects your personal information. Please read this notice to better understand our policies.
What is collected?
(Information collected and shared can depend on products we use to serve you)
- Social Security Number & Credit Score
- Account Balances and Payment History
- Income & Employment Information
Why is your personal information shared?
All financial companies need to share personal information to run their everyday business. In the section below, we list reasons financial companies can share your personal information, the reason Reverse Freedom Mortgage chooses to share and the purpose for sharing this information. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Reverse Freedom Mortgagechooses to share and the purpose for sharing this information
Who is providing this notice?
Reverse Freedom, LLC
What type of business does Reverse Freedom Mortgage operate?
Reverse Freedom is a reverse mortgage broker and operates to serve clients with lending services related to reverse mortgage products.
How does Reverse Freedom protect my personal information?
Reverse Freedom utilizes security measures to protect your personal information from unauthorized access and use. The company’s security measures comply with federal law. These safeguards include the use of computer security, secured data sharing, and maintaining information in a secured manner within our corporate office.
What information is collected?
Reverse Freedom collects information while performing loan services for their clients. Information is collected at various stages of the loan process:
- Client provided contact information.
- Client provided information to produce a loan proposal and application.
- Collection of income, employment and/or asset information.
- Collection of social security numbers and other required documentation to process reverse mortgage loans.
- Collection of information from third parties such as; credit bureaus, title companies, and other affiliates.
Why is personal information collected?
Personal information is required to be collected to underwrite reverse mortgage loans that meet FHA guidelines. Additionally, other non-FHA mortgage lenders have specific underwriting guidelines that must be met to secure financing.