HARD MONEY BROKERS  PRIVACY POLICY

About Hard Money and what information we gather

Privacy Policy – Our Company originates and arranges real estate financing secured by California real estate that are funded by Private Investors, Pension Funds and Investments Funds.  As part of our application process we are required to obtain certain Personal Information from Borrowers who apply for real estate financing with our company.

The information we obtain from our Borrowers is used for verification purposes, Income & Credit loan qualifying and for regulatory requirements from both the State of California and the Federal Government.

Personal Information we obtain from our Borrowers: 

Social Security Number

  • Verbal request from our Borrower
  • Copy of our Borrower’s Social Security Card

Employment Information

  • Employer or Self-Employed Business information
  • Complete copies of Federal 1040 Tax Returns
  • Federal W2’s
  • Paycheck stubs

Bank Account Information

  • Name of Bank where account(s) are located
  • Bank account number
  • Bank account balances
  • copies of bank statements

Mortgage Loan Information

  • Mortgage company holding current mortgage
  • Mortgage loan number
  • Mortgage balance
  • Mortgage payment history

Credit History

  • Credit Report ordered from a National Credit Bureau
  • Mortgage payment history records

Reasons why we obtain personal information from our borrowers

The information we obtain from our Borrowers is used for verification purposes, loan qualifying for our Investors and for regulatory reporting requirements.

Our company represents Private Investors, Pension Funds and Investment Funds and it’s necessary for our company to present personal information we obtain from our Borrowers together with Subject Property information to potential Investors as part of the loan processing and funding our Borrowers loan requests.

Following are the specifics reasons why we must obtain personal information from our Borrowers who apply for real estate financing with our company.

Verification Purposes

  • We are required to confirm the ownership of the Subject Property we are asked to finance and to further confirm and verify the identity of our Borrowers.

Income Qualifying Requirements

  • The Income Information we obtain from our Borrowers is used for qualifying purposes for the real estate loans our company provides.

Credit Qualifying Requirements

  • The Credit History Information we obtain from our Borrowers is used for Credit Qualifying purposes for the real estate loans our company provides.

Regulatory Reporting Requirements

  • Due to regulatory reporting requirements of agencies of the Federal government and the State of California that regulate Mortgage Loan Originators, we are required to obtain certain Personal Information from our Borrowers who apply for real estate financing with our company and to report certain Personal Information to comply with Federal and State Fair Lending and Discrimination Laws.