This privacy notice and consent relates to an application (the application) you make to a mortgage manager for a loan (your loan) or in which you offered to guarantee the applicant’s loan obligations or your loan or a guarantee of the loan. It includes consents from you to disclose certain information to other organisations described below. Your loan may be consumer credit or commercial credit.
The mortgage manager will submit the application to a lender or the lender’s loan servicer to consider. If the lender or its loan servicer approves the application, it may seek lender’s mortgage insurance (LMI) cover from a lenders mortgage insurer or title insurance cover from a title insurer or both in relation to your loan.
In this privacy notice and consent, “credit eligibility information” means information an organisation described below obtained from a credit reporting body or that is based on information obtained from a credit reporting body.
This privacy notice tells you how certain organisations collect information about you, what they use the information for and who they share the information with. If any of those organisations collect information that can be used to identify you, it will take reasonable steps to notify you of that collection.
Organisations that collect information about you
This privacy notice and consent covers the following organisations that may collect information about you relating to the application or your loan or a guarantee of the loan:
• the mortgage manager (the mortgage manager) through whom you made the application or that manages your loan. That mortgage manager is Client Solution Centre Pty Ltd ABN 39 066 660 964.
• the lender to whom you make the application or that makes your loan available. That lender is either Perpetual Trustees Victoria Limited ACN 004 027 258 or AFSH Nominees Pty Ltd ACN 143 937 936 or First Mortgage Company Pty Ltd ABN 45 104 268 448 (each a lender);
• the loan servicer (the loan servicer) that considers the application or administers your loan for the lender. That loan servicer is Advantedge Financial Services Pty Ltd ACN 130 012 930 or FirstMac Limited ABN 59 094 145 963.
• the LMI insurer that considers a lender’s request for LMI cover relating to the application or that gives LMI cover to the lender for your loan. That LMI insurer is either QBE Lenders Mortgage Insurance Ltd (QBE) ACN 000 511 071 or Genworth Financial Mortgage Insurance Pty Ltd (Genworth) ACN 106 974 305 (each an LMI insurer); and
• the title insurer (the title insurer), that considers a lender’s request for title insurance cover relating to the application or that gives title insurance cover to the lender for your loan, and its related entity: the title insurer is First American Title Insurance Company of Australia Pty Limited (First Title) ACN 075 279 908 and its related entity is First Mortgage Services Pty Ltd (FMS) ACN 110 202 429.
Each of those organisations is described below separately as “we” and “us”.
The LMI insurers and the title insurer are described together below as “insurers”.
How information is collected from you
We will collect information about you from you directly whenever we can. Most information will be collected from the application and from the records we maintain about the products or services you receive from us. We may verify that information from sources referred to in the application or in this privacy notice and consent.
How information is collected from other sources
Sometimes we will collect information about you from other sources as the Privacy Act 1988 permits. We will do this only if it’s reasonably necessary to do so, for example, where:
• we obtain information (including commercial credit information concerning your credit worthiness or history, consumer information and collection of overdue payments information) from a credit reporting body for any purpose described below;
• we obtain information about your loan or a guarantee of the loan from another organisation described above;
• we can’t get hold of you and we rely on publicly available information to update your contact details;
• we check property, you offer as security, through public registers or our service providers; or
• we exchange information with your legal or financial advisers or other representatives.
When the law authorises or requires collection of information
There are laws that affect organisations that may require us to collect personal information about you. For example, we may require information about you to verify your identity under Australian Anti-Money Laundering law.
How your information may be used
A lender, the loan servicer or the mortgage manager may use information about you for purposes including:
• giving you information about loan products or related services;
• considering whether you are eligible for a loan or any related service you requested;
• processing the application and providing you with a loan or related service;
• administering your loan or any related service, for example, to answer requests or deal with complaints;
• identifying you;
• telling you about other products or services it or its related companies make available and that may be of interest to you, unless you tell them not to;
• allowing it to run its business efficiently and to perform administrative and operational tasks;
• preventing or investigating any fraud or crime or any suspected fraud or crime;
• as required by law, regulation or codes binding it; and
• any purpose to which you have consented.
You can let the lender, loan servicer or the mortgage manager know at any time if you no longer wish to receive direct marketing offers from them. They will process your request as soon as practicable.
Also, a lender, the loan servicer or the mortgage manager may use credit information about you to:
• enable an insurer to assess the risk of providing insurance to the lender or to address the lender’s arrangements with the insurer;
• assess whether to accept a guarantor or the risk of a guarantor being unable to meet their obligations;
• consider hardship requests; and
• assess whether to securitise loans and to arrange securitising loans the lender makes.
An LMI insurer may use information about you:
• to decide whether to insure a lender under an LMI policy;
• to assess the risk of you or a guarantor defaulting on your obligations to a lender;
• to administer and vary the insurance cover including for securitisation and hardship applications;
• to verify information that the LMI insurer collects about you;
• to deal with claims and recovery of proceeds including, among other things, to enforce a loan or a guarantee in place of a lender if the LMI insurer pays out an insurance claim on your loan or the loan you guarantee;
• to conduct risk assessment and management involving credit scoring, portfolio analysis, reporting and fraud prevention;
• to comply with legislative and regulatory requirements including requirements under the Privacy Act 1988 and Insurance Contracts Act 1984 as amended from time to time;
• for a mortgage insurance purpose relating to you; and
• for any other purpose under the insurance policy the LMI insurer issues to the lender relating to your loan.
The title insurer or its related entities may use information about you:
• to assess the risk of providing title insurance to the lender;
• for the subsequent administration or variation of the title insurance policy;
• for risk assessment, reporting, fraud prevention, enforcement and claim recovery activities;
• to discharge your existing mortgage over the security property and register your new mortgage over the security property where a refinance is taking place;
• to deal with claims and to enforce a loan or a guarantee in place of a lender if the title insurer pays out an insurance claim on your loan or the loan you guarantee;
• for a title insurance purpose relating to you;
• to comply with legislative and regulatory requirements; and
• for any other purpose under the contract between a lender and the title insurer.
What happens if you don’t provide information
If you don’t provide your information to us, it may not be possible:
• to provide you with the product or service you want. For example, if information is not disclosed to an insurer, it may not be able to process a lender’s request for insurance. In that case, the lender may not be able to assess this application;
• for the lender, loan servicer or a mortgage manager to manage or administer the loan the lender makes to you;
• verify your identity or protect against fraud; or
• in the case of the lender, loan servicer or mortgage manager, to let you know about other products or services that might be suitable for your financial needs.
Sharing Your Information
Sharing with other organisations
We use and share information about you with other organisations described above for the purposes described above.
Sharing with related companies
We may share information about you with our related companies for the purposes described above.
Sharing with your representatives and referees
We may share information about you with:
• your representative or any person acting on your behalf (for example, lawyers, settlement agents, accountants, brokers or real estate agents); and
• your referees, such as your employer, to confirm details about you.
Sharing with credit reporting bodies
We may disclose information about you to a credit reporting body in relation to the application or your loan or your guarantee, including overdue payments. A credit reporting body may include information about you in reports that it gives other organisations (like other lenders) to help them assess your credit worthiness.
Some of that information may reflect adversely on your credit worthiness, for example, if you fail to make payments or if you commit a serious credit infringement (like obtaining credit by fraud). That sort of information may affect your ability to get credit from other lenders.
Sharing with third parties
We may disclose information about you to third parties, in relation to: considering the application; administering your loan; exercising rights relating to your loan; exercising rights relating to your guarantee; or any insurance policy an insurer issues to the lender relating to your loan or the loan you guarantee. Those third parties may include:
• valuers, other insurers, re-insurers, claim assessors and investigators;
• brokers or referrers that submitted applications on your behalf or referred you to the mortgage manager;
• other financial institutions, like banks;
• organisations that are involved in debt collecting or in purchasing debts;
• organisations, like fraud reporting agencies, that may identify, investigate and/or prevent fraud, suspected fraud, crimes, suspected crimes, or other serious misconduct;
• organisations involved in surveying or registering a security property or which otherwise have an interest in a security property;
• government or regulatory bodies (including ASIC and the Australian Tax Office) as required or authorised by law. In some instances, these bodies may share the information with relevant foreign authorities;
• rating agencies to the extent necessary to allow the rating agency to rate particular investments;
• organisations involved in securitising your loan, including re-insurers and underwriters, loan servicers, trust managers, trustees and security trustees;
• guarantors and prospective guarantors of your loan;
• the borrowers or the prospective borrowers of the loan you guarantee;
• payment system operators to allow us to investigate or correct payments on your loan; and
• service providers (including data consultants and IT contractors), agents, contractors and advisers that assist us to conduct our business.
Also, a lender or the loan servicer may disclose information about you, in relation to other services relating to your loan or your guarantee or its loan products, to others including:
• organisations that maintain, review and develop a lender’s or the loan servicer’s business systems, procedures and technology infrastructure;
• organisations that produce cards, cheque books or statements for a lender in relation to your loan or the loan you guarantee;
• organisations that assist a lender or the loan servicer with product planning, research and development; and
• mailing houses and telemarketing agencies that assist a lender or the loan servicer to communicate with you.
Sharing outside of Australia
QBE may disclose information about you to related companies situated in the Philippines.
Genworth may disclose information about you to related companies situated in the USA, Canada or the United Kingdom.
The title insurer or its related entities may disclose information about you to related companies situated in the USA, Malaysia or India.
We may store information about you in cloud or other types of networked or electronic storage. As electronic or networked storage can be accessed from various countries via an internet connection, it’s not always practicable to know in which country information about you may be held.
Overseas organisations may be required to disclose information shared with them under a foreign law. In those instances, the organisation, described above, that disclosed the information to the overseas organisation will not be responsible for that disclosure.
Each lender, loan servicer and mortgage manager:
• will only share any credit information about you with a credit reporting body if that body has a business operation in Australia; and
• is unlikely to share credit eligibility information with organisations that do not have business operations in Australia.
Accessing your Information
Correcting your Information
By signing this form, you consent to:
• us obtaining information about you from a credit reporting body:
• to assess your application for consumer credit or commercial credit or to collect any payment that is overdue in relation to your loan; and/or
• to assess whether to accept you as a guarantor of the loan;
• us exchanging information about you with other credit providers to: assess the application; assess whether to accept you as a guarantor; assist you to avoid defaulting on your loan or your guarantee; notify other credit providers of a default by you; or assess your credit worthiness. This information may include credit eligibility information;
• if you are a joint applicant under the application or become a joint borrower under your loan, us exchanging information about you with your joint applicants or joint borrowers to process the application and to administer your loan;
• us disclosing information (including credit eligibility information to potential guarantors) about you to a potential or existing guarantor (or their legal representative) but only to assist them to consider whether to act as a guarantor or to offer property as security or to inform them about:
• the application and details of the obligations guaranteed or proposed to be guaranteed;
• your credit worthiness, credit capacity or credit history; and
• any other matter we decide is relevant to a potential guarantor or guarantor;
• if a lender, the loan servicer or mortgage manager requests an insurer for LMI insurance or title insurance for the loan for which you applied, the lender, the loan servicer or the mortgage manager disclosing to that insurer information about you for any purpose in connection with that insurance;
• us checking the details of the information you gave in the application. They may contact any person you named in the application for that purpose. If you give us an identity document (for example, your passport or driver’s licence) in connection with the application, we may contact the authority that issued the document to verify the status of and any information contained in the document;
• us exchanging information (including credit eligibility information) about you with any person acting on your behalf (like a broker or a referrer) relating to processing the application and establishing and managing your loan or your guarantee;
• a lender or the loan servicer disclosing your credit eligibility information to other organisations participating in securitising the lender’s loans, but only for purposes relating to those arrangements including to enable those other organisations to exercise rights they have under securitisation arrangements to review loan files; and
• us using the information in the application to better understand and/or manage your relationship with us.
Information about other people
If you give information about another person (like your employer, spouse, referee or solicitor) in relation to the application or a loan you get from the lender to us, you will let that other person know that:
• we have collected their information to assess the application, to manage any loan you get from a lender and for any other purpose set out in the
privacy notice above;
• we may exchange this information with other organisations set out in that privacy notice;
– access the information we hold about them,
by using the contact details for us in the schedule; and
• you may not be able to get credit from the lender or we may not accept your application to act as a guarantor of a loan unless we obtain their information.
More about the credit reporting body we use
We may give information about you to one or more credit reporting bodies in relation to the application or your loan. Currently, we deal with Veda Advantage Business Information Services Ltd (Veda). Veda’s contact details are in the schedule. Veda has a credit reporting policy about how it handles information about you. You can obtain copies of that policy at Veda’s website set out in the schedule.
If you think you have been the victim of a fraud
If you believe that you have been or are likely to be the victim of fraud (including identity fraud), you can request a credit reporting body not to use or disclose the information they hold about you.
If you don’t want your information used by them for direct marketing/pre screening purposes
You can ask a credit reporting body not to use information about you to undertake pre-screening assessments of individuals to determine
whether those individuals are eligible to receive direct marketing from a particular credit provider. Please contact the credit reporting body,
if you want to ensure that the credit reporting body does not use information about you for pre-screening assessments
Further request for and verification of personal information
In order to comply with its obligations under Anti-Money Laundering and Counter Terrorism Financing Act 2006 (AML/CTF ACT), Client Solution Centre Pty Ltd may request further Personal Information from you, even if such information was previously obtained.
The Personal Information may be used for assessment and verification for compliance under the AML/CTF Act. You consent to the use of the Personal Information for such purposes.
If you do not provide the Personal Information required, Client Solution Centre Pty Ltd may not be able to provide you with credit or other products and services. When Client Solution Centre Pty Ltd requests personal information from you for this purpose, you must comply with such requests
Accessing and updating personal information
You may access and update your personal information by contacting the Privacy Officer at the office of CSC Home Loans.