Privacy Policy
Last Updated: January 10, 2025
Introduction
AKTX Mortgage Loans ("we," "us," or "our") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you visit our website www.aktxmortgage.com or use our mortgage services.
This policy applies to information we collect through our website, email, text messages, phone calls, and in-person interactions. By using our services, you consent to the data practices described in this policy.
1. Information We Collect
Personal Information
We may collect the following personal information:
- Identification Information: Name, date of birth, Social Security Number, driver's license number, government-issued ID
- Contact Information: Email address, phone number, mailing address, physical address
- Financial Information: Income, employment history, assets, debts, bank account information, credit card information, tax returns, pay stubs, W-2 forms, 1099 forms
- Credit Information: Credit reports, credit scores, payment history, bankruptcy information, foreclosure history
- Property Information: Property address, property value, property type, intended use, purchase price, down payment amount
- Loan Information: Loan amount, loan purpose (purchase, refinance, cash-out), desired loan terms, existing mortgage information
Automatically Collected Information
When you visit our website, we automatically collect:
- Device Information: IP address, browser type, operating system, device identifiers
- Usage Data: Pages viewed, time spent on pages, links clicked, referring website, date and time of visits
- Cookies and Tracking: We use cookies, web beacons, and similar technologies to enhance your experience and collect analytics data
2. How We Use Your Information
We use the information we collect to:
- Process Applications: Evaluate and process your mortgage or refinance application
- Underwriting: Assess creditworthiness and determine loan eligibility
- Communication: Contact you about your application, provide updates, answer questions, and send important notices
- Legal Compliance: Comply with federal and state lending regulations, including RESPA, TILA, ECOA, FCRA, HMDA, and anti-money laundering laws
- Fraud Prevention: Verify identity, detect and prevent fraud, identity theft, and unauthorized transactions
- Service Improvement: Analyze website usage, improve our services, and enhance user experience
- Marketing: Send promotional emails, newsletters, and marketing communications (you may opt out at any time)
- Quality Assurance: Record phone calls for training, quality assurance, and compliance purposes
3. How We Share Your Information
We do not sell, rent, or trade your personal information. We may share your information with the following parties:
Service Providers and Business Partners
- Lenders and Investors: Wholesale lenders, correspondent lenders, and mortgage investors who fund your loan
- Credit Bureaus: Experian, Equifax, TransUnion for credit reports and credit monitoring
- Appraisers: Licensed appraisers who evaluate property value
- Title Companies: Title insurance companies, escrow agents, and settlement service providers
- Insurance Companies: Homeowners insurance providers, mortgage insurance companies
- Government Agencies: FHA, VA, USDA, Fannie Mae, Freddie Mac, HUD, and other government-sponsored entities
- Legal and Professional Services: Attorneys, accountants, auditors, and compliance professionals
- Technology Providers: Software vendors, data storage providers, website hosting services, CRM platforms
Legal Obligations
We may disclose your information when required by law, including:
- In response to subpoenas, court orders, or legal process
- To comply with federal and state lending regulations
- To cooperate with law enforcement or government investigations
- To protect our rights, property, or safety, or the rights of others
- To prevent fraud, security threats, or illegal activity
4. Data Security
We implement industry-standard security measures to protect your information, including:
- Encryption: SSL/TLS encryption for data transmitted over the internet
- Secure Storage: Encrypted storage of sensitive data on secure servers
- Access Controls: Restricted access to personal information on a need-to-know basis
- Employee Training: Regular privacy and security training for all employees
- Monitoring: Continuous monitoring for unauthorized access or security breaches
While we use reasonable measures to protect your information, no method of transmission over the internet or electronic storage is 100% secure. We cannot guarantee absolute security.
5. Data Retention
We retain your personal information for as long as necessary to fulfill the purposes described in this policy, unless a longer retention period is required or permitted by law. Mortgage-related records are typically retained for 7 years or longer to comply with federal recordkeeping requirements.
6. Your Rights and Choices
You have the following rights regarding your personal information:
- Access: Request access to the personal information we hold about you
- Correction: Request correction of inaccurate or incomplete information
- Deletion: Request deletion of your personal information (subject to legal retention requirements)
- Opt-Out: Opt out of marketing communications by clicking "unsubscribe" in emails or contacting us
- Do Not Track: Our website does not currently respond to Do Not Track signals
- Credit Report: You have the right to obtain a free credit report annually from each credit bureau
To exercise your rights, please contact us using the information provided below. We will respond to your request within 30 days.
7. California Privacy Rights (CCPA)
If you are a California resident, you have additional rights under the California Consumer Privacy Act (CCPA):
- Right to know what personal information is collected, used, shared, or sold
- Right to delete personal information (subject to exceptions)
- Right to opt out of the sale of personal information (we do not sell personal information)
- Right to non-discrimination for exercising your CCPA rights
8. Children's Privacy
Our services are not directed to individuals under the age of 18. We do not knowingly collect personal information from children. If you believe we have collected information from a child, please contact us immediately.
9. Third-Party Websites
Our website may contain links to third-party websites. We are not responsible for the privacy practices or content of these external sites. We encourage you to review the privacy policies of any third-party sites you visit.
10. Changes to This Privacy Policy
We reserve the right to update this Privacy Policy at any time. Changes will be effective immediately upon posting on this page. Your continued use of our services after changes are posted constitutes your acceptance of the revised policy. We encourage you to review this policy periodically.
11. Contact Us
If you have questions, concerns, or requests regarding this Privacy Policy or our data practices, please contact us:
12. Gramm-Leach-Bliley Act (GLBA) Privacy Notice
Federal law requires us to tell you how we collect, share, and protect your personal information. Our privacy practices comply with the Gramm-Leach-Bliley Act and applicable state laws. This notice supplements the information provided above and applies specifically to financial information collected during the mortgage process.