MortgagePRO Ltd. complies with the Personal Information Protection and Electronic Documents Act (Canada)(PIPEDA) and the Personal Information Protection Act (Alberta) (PIPA). Each associate will ensure that all personal information obtained shall be kept confidential. MortgagePRO Ltd. shall only collect information that may be needed for mortgage application purposes. MortgagePRO Ltd. shall only collect and share information with potential credit grantors and insurers, and have the consent of the borrowers to do so. MortgagePRO Ltd. shall retain files on all funded applications for a period of five years. MortgagePRO Ltd. shall retain files on non-funded applications for three years as required under the Real Estate Act (R.S.A. 2000s. 25(9)). MortgagePRO Ltd. shall not sell, distribute, or in any way convey personal data to any party for the purpose of marketing any unrelated products to its borrowers.
The brokerage must provide this agreement upon you are engaging into a relationship with them to clarify their duty and your rights.This will help identify any compensation that will be awarded to the Brokerage and from what source. It ensures they will be compensated in agreement with you.