The directors, management, and staff of American Mortgage and Insurance Inc. (AMI) are concerned about and respect the privacy of customers' personal financial information. We understand that our customers furnish sensitive information in the course of our daily business, and AMI is committed to treating such information responsibly. We know that our customers expect privacy and security for their personal and financial affairs.
Types of Information We Collect
At American Mortgage and Insurance Inc.we collect nonpublic, personal information about you from many sources, including the following:
- Information we receive from you on applications and in your communications to us, whether in writing, in person, by telephone or any other means
- Information about your transactions with us, our affiliates, or others
- Information we receive from a third party such as a consumer reporting agency or credit bureau
Nonpublic, personal information does not include that which is available from government records, widely distributed media, or government-mandated disclosures.
Examples of personal information may include:
- Identifying information, such as your name, age, address, phone number and Social Security number.
- Information about your business and/or employment history.
- Financial information, such as your income, assets and liabilities, as well as information about your savings, investments and insurance.
Use of Information
We request information from you for our own legitimate business purposes and not for the benefit of any non-affiliated party. Therefore, we will not release your information to a non-affiliated party except: (1) as necessary for us to provide the products or services you requested; or (2) as permitted by law.
We may also provide non-public personal information to affiliated companies such as title and escrow companies as permitted by law. One of the important responsibilities of our affiliated companies is to record documents in the public domain. Such documents may contain your personal information.
Safeguarding Personal Information
At American Mortgage and Insurance Inc. we protect consumer privacy by ensuring that only employees who have a business reason for knowing information have access to it.We have adopted these policies and procedures to protect your personal information from unauthorized use or disclosure. We have implemented physical, electronic and procedural safeguards to maintain the confidentiality and integrity of the personal information in our possession and to guard against unauthorized access. These include, among other things, procedures for controlling access to customer files, building security programs and information technology security measures such as the use of passwords, encryption and firewalls, plus virus and use detection software.
When physical documentation is applicable, all files and personal information are stored in file cabinets under lock and key. Storage units are locked and only management is in possession of keys for access. Our office location(s) have installed security systems to prevent anyone from breaking and entering during off hours. From a technological standpointAMI monitors,as well as tests, firewalls and detection software on a daily basis. System alerts are in place to notify us if an unauthorized user is attempting to penetrate AMI firewalls. Our credit reporting service Corelogicrequires our loan officers to obtain authorization certificates to prevent unauthorized personnel to access consumer credit. We will continue to assess new technology, as it becomes available and to upgrade our physical and electronic security systems as appropriate.
Choices Regarding Information Sharing
We will disclose your Personal Information when you direct or give us permission, when we are required by law to do so, or when we suspect fraudulent or criminal activities. You may contact us directly should you have any questions.
By law we may share personal information about consumers without allowing consumers the opportunity to opt out in the following circumstances:
- With companies who perform transaction processing for us in the following circumstances:
- If the transaction, service, or product is requested or authorized by the consumer
- To maintain or service a consumer's account as part of a private label credit or other loan extension program
- In connection with a securitization, secondary market sale (including servicing rights), or similar transaction related to a consumer
- For disclosures that are necessary to enforce our legal or contractual rights or the rights of any other person who is engaged in the financial transaction
- For disclosures required in the ordinary course of business, such as the settlement of claims or benefits, the confirmation of information to the consumer or the consumer's agent, and the billing, processing, or clearing of items in the normal course of business
- To provide information to insurance rate advisory organizations, guaranty funds or agencies, agencies that are rating the mortgage company, persons who are assessing our compliance with industry standards, and our attorneys, accountants, and auditors
- To the extent permissible under the Right to Financial Privacy Act
- To a consumer reporting agency under the Fair Credit Reporting Act
- To comply with federal, state, or local laws, rules, and other applicable legal requirements