About Hard Money and what information we gather

  • Hard Money- What Information We Have

    Privacy Policy- Our company aims at arranging real estate financing as secured by the California real estate. We are funded by pension Funds, Investment Funds and Private Investors. To provide hard money loans to borrowers, our company needs to retrieve certain Personal Information for verification purposes, regulatory requirements and Income & Credit Loan Qualifying.

    What Personal Information Our Company Requires?

    Social Security Number

    • Copy of the Borrower’s Social Security Card
    • Verbal Request from the Borrower

    Bank Account Information

    • Bank name where the Borrower holds an account
    • Bank account number
    • Copies of bank statements
    • Bank account balances

    Mortgage Loan Information

    • Name of the mortgage company having current mortgage
    • Mortgage balance
    • Mortgage loan number
    • Mortgage payment history

    Employment information

    • Information related to the employer or self-employed business
    • Copies of Federal 1040 Tax Returns
    • Paycheck stubs
    • Federal W2’s

    Credit History

    • Mortgage payment history records
    • Credit Report from a national Credit Bureau

Why it is important to obtain personal information from our Borrowers?

Our company needs to obtain personal information from our Borrowers as part of the loan funding and processing as requested by our Borrowers. The information gathered from our Borrowers are used for loan qualifying, verification purposes and for regulatory reporting requirements.

We represent Investment Funds, Pension Funds and Private Investors and therefore, it is imperative to garner authentic and personal information from our Borrowers.

Following shows the reasons why we gather personal information from our Borrowers:

Income Qualifying Requirements

  1. Income related information is necessary to understand whether the Borrower qualifies for our company’s real estate loans.

Verification Process

  1. Our company is required to confirm the ownership of the Subject property and the identity of our Borrowers.

Credit Qualifying Requirements

  1. Borrowers apply for real estate loans from our company. Therefore, we are required to obtain The Credit History Information from our Borrowers.

Regulatory reporting Requirements

  1. There are regulatory reporting requirements of agencies of the Federal government and the State of California. The agencies regulate Mortgage Loan Originators and therefore, our company is required to gather certain personal information from our Borrowers. The Personal Information provided should comply with Federal and State Fair Lending and Discrimination Laws.