Resi Wholesale Funding Pty Ltd
ACN 140 674 120 Australian Credit Licence 470679
Resi Mortgage Corporation Pty Ltd
ACN 092 564 415 Australian Credit Licence 390669
YBR Administration Services Pty Ltd ACN 612 545 356
Resi Wholesale Funding Pty Ltd and Resi Mortgage Corporation, their related bodies corporate and affiliates (collectively known as “Resi” and also referred to in this Policy as “us,” “we” and “our”), seek to provide the best possible service to its customers by providing the best possible range of financial products and services.
We understand how important it is to protect your personal information (including credit-related information). This document sets out how we collect, use, store and disclose the personal information (including credit-related information) we hold about you.
We will only use any personal information we collect about you for the purposes indicated in our policy, where we have your consent to do so, or as otherwise required or authorised by law. It is important to us that you are confident that any personal information we collect from you or that is received by us will be treated with appropriate respect ensuring protection of your personal information.
Our commitment in respect of personal information is to abide by the Australian Privacy Principles (APPs) and Part IIIA of the Privacy Act 1988 (Cth) (Privacy Act), the Privacy (Credit Reporting) Code 2014 and any other relevant law.
Who are we?
Resi offers financial products and services and provides credit to approved applicants. We process and assess information in respect of loan applications. We act as servicer of loan portfolios operated by other lenders and we also process and assess information when investors invest funds with us.
When we refer to personal information, we mean information or an opinion about you, from which you are, or may reasonably be, identified.
This information may include (but is not limited to) your name, date of birth, driver’s licence number, marital status, phone number, email address, address, nationality, employment history, income, assets, liabilities, account details, repayment history information and any other information we may need to identify you.
Due to the nature of the services provided by us, some of the information we collect may be sensitive information. For example, if you are applying for insurance, we may ask you information about pre-existing medical conditions or if you are making a hardship application, we may also ask you about any medical conditions you may have.
It is not common practice for us to collect other sensitive information about you (such as information about your religion, trade union membership, political opinion, sexual preference or criminal record). We will only collect sensitive information about you with your consent.
Personal information also includes credit-related personal information. Credit-related personal information means:
- Credit information, which is personal information or an opinion about you that has a bearing on credit that has been provided to you or that you have applied for. This information includes your identity; the type, terms and maximum amount of credit provided to you (including information about you where you are a guarantor of a loan), including when that credit was provided and when it was repaid; repayment history information, financial hardship information (including information that any repayments are affected by a financial hardship arrangement), default information (including overdue payments); payment information; new arrangement information; details of any serious credit infringements; court proceedings information; personal insolvency information and publicly available information; and
- Credit eligibility information, which is credit reporting information supplied to us by a credit reporting body, and any information that we derive from it.
We use your credit-related information to assess your eligibility to be provided with finance. Usually, credit-related information is exchanged between credit and finance providers and credit reporting bodies.
Why we collect your personal information
We collect and receive personal information about you (including credit-related information) in order to conduct our business, including: assessing (and obtaining approval for) your application for finance and other products when we are the lender or servicer for the lender; managing that finance; accrediting you as an aggregator, broker or introducer of loans and other products (if applicable); if you seek to approve loans on behalf of us under Delegated Lending Authority; establishing your identity; contacting you; managing our risk; and to comply with our legal obligations.
We also collect and use personal information (including credit-related information) about you if we are assessing whether to make a loan to a borrower where you have offered to act as guarantor. If you are applying for a loan or provide a guarantee we may also collect the ages and number of your dependents and cohabitants, the length of time you have resided at your current address, your employment details and proof of earnings and expenses as well as any of other information we reasonably require. If you apply for any insurance product through us, we may collect information about what is being insured, the beneficiaries and your health information including medical and lifestyle information from you or your health professionals. We will only collect health information from you with your consent.
We may also collect your personal information for the purposes of direct marketing and managing our relationship with you. Improvements in technology also enable organisations like ours to collect and use information to get a more integrated view of our customers. From time to time we may offer you other products and services.
We will also collect and receive personal information about you if you seek employment with us.
How do we collect your personal information?
Personal information may be collected by us in several circumstances, including when an individual:
- makes an enquiry with us via email or telephone;
- visits our website;
- lodges a loan enquiry or requests a quote through our website;
- applies to be a borrower or guarantor for a loan with us;
- attends an event hosted by us;
- applies for employment with us;
- applies for accreditation as an aggregator, employee of a mortgage manager, broker or introducer of loans or other products;
- applies for Delegated Lending Authority to assess loan applications on our behalf.
Where reasonable and practical we will collect your personal information directly from you. We may also collect information about you from third parties such as from our contractors who supply services to us, recruiters, through our referrers (such as mortgage originators, mortgage managers and brokers), from a publicly maintained record or from other individuals or companies as authorised by you. From time to time we may also purchase lists containing personal information about individuals from organisations offering such lists for marketing purposes.
If you do not provide the information requested by us, we may not be able to provide you with our services.
We will not ask you to supply personal information publicly over Facebook, Twitter, or any other social media platform that we use.
We may also collect credit-related personal information about you as a result of credit checks that you authorise us to carry out.
The kinds of credit-related personal information we may collect about you includes:
- information about your identity;
- information about consumer credit loans that you currently have applied for including:
- repayment history information;
- financial hardship information (including information that any of your lending arrangements are affected by a financial hardship arrangement);
- the type and amount of credit sought in each application;
- default and payment information;
- information about any court proceedings;
- information about your personal insolvency;
- court proceedings information.
- credit eligibility information, which is credit reporting information supplied to us by a credit reporting body, and any information that we derive from it.
How do we use your personal information?
We use your personal information for the purpose for which it has been provided, for reasonably related secondary purposes, any other purpose you have consented to and any other purpose permitted under the relevant Privacy legislation. This may include using your personal information for the following purposes:
- to provide you with the products or services you requested;
- to verify your identity;
- to assess, process and manage your application to be a borrower or guarantor, or a lessee under a finance lease, or investor, including to verify your details and assess our risk;
- to assess, process and manage your application for employment;
- for complaints handling or data analytics purposes;
- to assess, process and manage your application to be an aggregator, employee of a mortgage manager, broker or introducer of loans or other products, including to verify your details and assess our risk;
- to assess, process and manage your application to assess loan applications on our behalf under Delegated Lending Authority.
When assessing an application to be a borrower or guarantor, or a lessee under a finance lease, we may use your credit-related personal information for the purposes of assessing the application.
Do we disclose your personal information?
We may disclose your personal information:
- to prospective funders or other intermediaries in relation to your finance requirements;
- to organisations that provide products or services used or marketed by us, including other credit providers, mortgage intermediaries (such as mortgage brokers, mortgage originators and mortgage managers), funders, lenders, valuers, trustee companies, financial institutions and securitisers, mortgage insurers, title insurers, surveyors, credit reporting agencies, rating agencies and debt collectors;
- to other organisations that are involved in managing or administering your finance such as third party suppliers, printing and postal services, call centres, lenders, mortgage insurers, trade insurers and credit reporting bodies
- to associated businesses that may want to market products to you;
- to companies that provide information and infrastructure systems to us;
- to our agents, contractors, external service providers to outsource certain functions, for example, statement production, debt recovery and information technology support;
- to anybody who represents you, such as finance brokers, lawyers, and accountants, guardians and persons holding power of attorney;
- to anyone, where you have provided us consent;
- to other guarantors or borrowers (if more than one);
- to borrowers or prospective borrowers including in relation to any credit you guarantee or propose to guarantee
- to our auditors, insurers, re-insurers and health care providers;
- to claims related providers, such as assessors and investigators who help us with claims;
- to other financial institutions, for example to process a claim for mistaken payment;
- where we are required to do so by law, such as under the Anti-Money or Laundering and Courter Terrorism Financing Act 2006 (Cth);
- to investors, agents or advisers, or any entity that has an interest in our business;
- to other financial institutions, for example to process a claim for mistaken payment;
- organisations that provide products or services used or marketed by us; or
- to your employer, referees or identity verification services.
Prior to disclosing any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that:
- the person or organisation has a commitment to protecting your personal information at least equal to our commitment, or
- you have consented to us making the disclosure.
We may use cloud storage to store the personal information we hold about you. The cloud storage and the IT servers may be located outside Australia.
We exchange this credit-related information for the purposes of assessing your application for finance and managing that finance. If you propose to be a guarantor, one of our checks may involve obtaining a credit report about you.
This credit-related information may be held by us in electronic form on our secure servers and may also be held in paper form. We may use cloud storage to store the credit-related information we hold about you. The cloud storage and the IT servers may be located outside Australia.
When we obtain credit eligibility information from a credit reporting body about you, we may also seek publicly available information and information about any serious credit infringement that you may have committed.
We may disclose your personal and credit-related information that provide support functions to businesses located overseas, such as in the USA, Canada, India, Ireland, the United Kingdom, the European Union, China or the Philippines. You may obtain more information about these entities by contacting us.
We exchange your credit-related information with credit reporting bodies. We use the credit-related information that we exchange with the credit reporting body to confirm your identity, assess your creditworthiness, assess your application for finance or your capacity to be a guarantor, and managing your finance.
The information we may exchange with credit reporting bodies includes your identification details, what type of loans you have, how much you have borrowed, whether or not you have met your loan payment obligations, whether you have entered into a financial hardship arrangement (either with us or some other third party) and if you have committed a serious credit infringement (such as fraud).
If you fail to meet your payment obligations in relation to any finance that we have provided or arranged, or you have committed a serious credit infringement then we may disclose this information to a credit reporting body.
You have the right to request access to the credit-related information that we hold about you and make a request for us to correct that credit-related information if needed. Please see the heading Access and correction to your personal and credit-related information, below for further information.
Sometimes your credit-related information will be used by credit reporting bodies for the purposes of ‘pre-screening’ credit offers on the request of other credit providers. You can contact the credit reporting body at any time to request that your credit-related information is not used in this way.
You may contact the credit reporting body to advise them that you believe that you may have been a victim of fraud. For a period of 21 days after the credit reporting body receives your notification the credit reporting body must not use or disclose that credit-related information. You can contact any of the following credit reporting bodies for more information:
From time to time we may use your personal information to provide you with current information about finance, special offers you may find of interest, changes to our organisation, or new products or services being offered by us or any company we are associated with.
If you do not wish to receive marketing information, you may at any time decline to receive this information by contacting our Privacy Contacts using the contact details below.
If direct marketing is by email you may also use the unsubscribe function. We will not charge you for giving effect to your request and will take all reasonable steps to meet your request at the earliest possible opportunity.
Updating your personal information
It is important to our relationship that the personal information we hold about you is accurate and up to date. During our relationship with you, we may ask you to inform us if any of your personal information has changed.
We will generally rely on you to assist us in informing us if the information we hold about you is inaccurate or incomplete.
If you wish to make any changes to your personal information, you may contact us. We will generally rely on you to assist us in informing us if the information we hold about you is inaccurate or incomplete.
Access and correction to your personal and credit-related information
We will provide you with access to the personal and credit-related information we hold about you. You may request access to any of the personal information we hold about you at any time. We may charge a fee for our costs of retrieving and supplying the information to you.
Depending on the type of request that you make we may respond to your request immediately, otherwise we usually respond to you within seven days of receiving your request. We may need to contact other entities to properly investigate your request.
There may be situations where we are not required to provide you with access to your personal or credit-related information, for example, if the information relates to existing or anticipated legal proceedings, or if your request is vexatious, of if the information is commercially sensitive.
An explanation will be provided to you, if we deny you access to the personal or credit-related information we hold about you.
If any of the personal or credit-related information we hold about you is incorrect, inaccurate or out of date you may request that we correct the information. If appropriate we will correct the personal information at the time of the request, otherwise, we will provide an initial response to you within seven days of receiving your request. Where reasonable, and after our investigation, we will provide you with details about whether we have corrected the personal or credit-related information within 30 days.
We may need to consult with other finance providers or credit reporting bodies or entities as part of our investigation.
If we refuse to correct personal or credit-related information, we will provide you with our reasons for not correcting the information.
Using government identifiers
If we collect government identifiers, such as your tax file number, we do not use or disclose this information other than required by law. We will never use a government identifier in order to identify you.
Business without identifying you
In most circumstances it will be necessary for us to identify you in order to successfully do business with you, however, where it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with personal information, for example, if you make general inquiries about interest rates or current promotional offers.
We will only collect sensitive information about you with your consent. Sensitive information is personal information that includes information relating to your racial or ethnic origin, political persuasion, memberships in trade or professional associations or trade unions, sexual preferences, criminal record, or health.
Safety and security of your personal information held by us
We will take reasonable steps to protect your personal information by storing it in a secure environment, and when the information is no longer needed for any purpose for which the information may be used or disclosed, it will be destroyed or permanently de-identified. We may store your personal information in paper and electronic form.
We will also take reasonable steps to protect any personal information from misuse, loss and unauthorised access, modification or disclosure.
If you are dissatisfied with how we have dealt with your personal information, or you have a complaint about our compliance with the Privacy Act and the Credit Reporting Code, you may contact our complaints officer at the Privacy Contact Details within this policy.
We will acknowledge your complaint within seven days. We will provide you with a decision on your complaint within 30 days.
If you are dissatisfied with the response of our complaints officer you may make a complaint to the Australian Financial Complaints Authority which can be contacted on 1800 931 678 or the Office of the Australian Information Commissioner which can be contacted on 1300 363 992.
Privacy Contact Details
You may contact us about any privacy issues or request further information about the way we manage your personal or credit-related information by contacting us as follows:
The Privacy Officer
Resi Wholesale Funding Pty Ltd
Mezzanine, 1 Chifley Square Sydney NSW 2000
Telephone (02) 8204 5099
We are constantly reviewing all our policies and attempt to keep up to date with market expectations. Technology is constantly changing, as is the law and marketplace practice.