Last updated: August 2025
Privacy Policy
The policy of Southern Mortgage Associates Inc is that the financial records of our customers and the relationships between Southern Mortgage Associates Inc and our customers are confidential and that the safekeeping of customer information is a priority of Southern Mortgage Associates Inc. We collect, retain, and use information about our customers when we reasonably believe that it will help administer our business or provide products, services, and other opportunities for them. We collect and retain information about our customers only for specific business purposes – and we will tell our customers why we are collecting and retaining it upon our customer’s request unless prohibited by law from doing so. We use information to protect and administer our customer’s records, accounts, and funds; to comply with certain laws and regulations; to help us design or improve our products and services; and to understand our customers’ financial needs so that we can provide our customers with quality products and superior service.
Purpose and Objectives
The purpose of our Privacy Policy is to define specific principles for Southern Mortgage Associates Inc employees and Loan Originators to follow in compliance with customers’ rights and existing laws as it pertains to personal non-public information.
● No employee or Loan Originator other than Southern Mortgage Associates Inc’s designated representative(s) is authorized to divulge financial information or records of a customer to anyone outside Southern Mortgage Associates Inc.
● It is the policy of Southern Mortgage Associates Inc to cooperate with governmental agencies in their properly made, legitimate requests for information and only in compliance with the specific requirements of the Right to Financial Privacy Act.
Restrictions on the Disclosure of Application Information
Southern Mortgage Associates Inc will not reveal confidential customer information to third parties except in the following instances:
The information is provided to any affiliate of Southern Mortgage Associates Inc that may now exist or hereafter be established:
● As necessary to effect, administer, or enforce a transaction requested or authorized by the consumer;
● To service or process a financial product or service requested or authorized by the consumer;
● To protect confidentiality or security or our customers records pertaining to the consumer, service, product or transaction;
● To protect against or prevent actual or potential fraud, unauthorized transactions, claims or other liability;
● For required institutional risk control or for resolving consumer disputes or inquiries;
● To persons holding a legal or beneficial interest relating to the consumer or to persons
acting in a fiduciary or representative capacity on behalf of the consumer;
● To provide information to insurance rate advisory organizations, guaranty funds or agencies, agencies that are rating our customers, persons that are assessing our customers compliance with industry standards;
● To the extent specifically permitted or required under other provisions of law and in accordance with the Right to Financial Privacy Act of 1978 (to law enforcement agencies – including government regulators);
● To a consumer reporting agency in accordance with the Fair Credit Reporting Act;
● In connection with a proposed or actual sale, merger, transfer, or exchange of all or a portion of a business or operating unit if the disclosure of nonpublic personal information concerns solely consumers of such business or unit;
● To comply with Federal, State, or local laws, rules and other applicable legal requirements;
● To comply with a properly authorized civil, criminal, or regulatory investigation, or subpoena or summons by Federal, State, or local authorities; or
● To respond to judicial process or governmental regulatory authorities having jurisdiction over our customers for examination, compliance or other purposes as authorized by law.
● We do not provide application or personal information to unaffiliated third parties for the purpose of independent telemarketing or direct mail marketing of any non-financial products or services of those companies.
Access to Information
Southern Mortgage Associates Inc will maintain appropriate security standards and procedures regarding unauthorized access to customer information. Employee and Loan Originator access to personally identifiable information will be limited to those with a business reason for knowing such information. If personally identifiable customer information is provided to a third party, Southern Mortgage Associates Inc will insist that the third party adhere to similar privacy principles that provide for keeping such information confidential.