Personal information is any information that identifies an individual, or by which an individual’s identity could be deduced. This includes, but is not limited to: residence address, age, gender, personal financial records, social insurance number, personal health information, personal references and employment records.
Collection of Information
CPMC collects personal information for the purposes of making investment and credit decisions, to confirm identity and to prevent fraud and money laundering. To fulfil these purposes, CPMC may request information from the files of consumer reporting agencies.
As a borrower or investor client and in support of the credit process, credit records may be shared on an ongoing basis with other lenders and credit reporting agencies. Personal information is used to manage risk, verify identity, make credit decisions for financing or renewal purposes, collect debts, administer credit files and to communicate with the borrower. Personal information is also used to satisfy information requests from regulators, organizations or individuals who are legally entitled to make such requests.
CPMC may collect personal information from borrowers directly or from others in order to verify identity, determine suitability or eligibility, comply with applicable laws, collect on outstanding debts or administer a file.
CPMC collects information only by lawful means. Personal information is collected directly from the individual however and may also be obtained from other sources including, but not limited to, credit bureau agencies, real estate appraisers, mortgage brokers and other financial institutions.
Generally, the individual will be asked to provide written consent if CPMC collects, uses, or discloses personal information but in some circumstances, CPMC may accept verbal consent or determine that consent is implied through the individual’s conduct.
CPMC may collect or disclose personal information without knowledge or consent in certain circumstances including, but not limited to, when it is required or authorized by law to do so; in the case of an investigation when a breach of agreement or contravention of law is suspected; in order to help detect, prevent or deter fraud, money laundering, terrorist or other criminal activity; where it is necessary to establish or collect amounts owed to it; if it engages a third party to provide administrative services and the third party is bound by this Privacy Policy; if the information is already publicly known; or if we sell, pledge or assign a mortgage or loan, or securitize it, sell parts of its business, or merge or amalgamate with other entities it may release the information it holds to the prospective purchaser or assignee as part of due diligence and on completion of the transaction, subject to confidentiality restrictions.
Updating Your Information
Since CPMC uses personal information to provide services, it is important that the information be accurate and up-to-date. If any information changes, CPMC should be informed so that it can make any necessary changes.
