Colorado Privacy Act Notice (CPA)

1. Introduction

This Privacy Policy is provided in accordance with the Colorado Privacy Act (CPA), which governs the collection, processing, and sharing of personal data for residents of Colorado. This policy applies to all consumers who engage with Loan Simple, Inc., a state-licensed mortgage lender, and describes how we handle personal data and your rights under Colorado law.

2. Information We Collect

As a mortgage lender, we collect personal data necessary for processing mortgage applications, providing financial services, and complying with state and federal regulations. The types of personal information we may collect include:

Personal Identifiers: Name, address, phone number, email address, and date of birth.
Financial Information: Social Security number, bank account information, credit history, income, and employment information.
Transaction Data: Information about your interactions with us, including loan applications, payment history, and transaction records.
Sensitive Data (if applicable): Government-issued identification numbers (e.g., SSN), biometric data (if applicable), and other sensitive financial or health-related data.

3. How We Use Your Information

We use your personal data for the following purposes:

To process and manage mortgage loan applications and approvals.
To verify your identity and assess your creditworthiness.
To communicate with you regarding the status of your mortgage application and any related matters.
To comply with legal and regulatory obligations, including recordkeeping and reporting requirements.
To offer and provide customer support, including addressing inquiries or concerns.
To improve our services and customize offerings to better suit your needs.

4. Sharing of Personal Information

We may share your personal information with:

Third-Party Service Providers: Companies that assist with loan servicing, payment processing, fraud detection, marketing, and compliance.
Regulatory Authorities: As required by state and federal law (e.g., reporting to the Consumer Financial Protection Bureau, state regulators, or other authorities).
Business Transfers: In the event of a merger, acquisition, or sale of assets, your personal data may be transferred to the new entity.
Other Parties as Required by Law: We may disclose your information when necessary to comply with legal obligations, court orders, or governmental requests.

We do not sell your personal information to third parties for marketing purposes.

5. Your Rights Under the Colorado Privacy Act

Under the Colorado Privacy Act, you have the following rights regarding your personal data:

Right to Access: You may request access to the personal information we hold about you.
Right to Correction: You may request that we correct any inaccurate or incomplete information.
Right to Deletion: You may request that we delete your personal information, subject to certain exceptions (e.g., for legal or contractual obligations).
Right to Opt Out of Sales or Sharing of Personal Data: While we do not sell personal data, you may opt out of certain sharing practices (e.g., for targeted advertising).
Right to Data Portability: You may request that we provide your personal data in a format that is easy to transfer to another entity.

To exercise any of these rights, please contact us using the information provided below.

6. Colorado Appeal Notice

If we deny your privacy request, you may appeal our decision by contacting us at compliance@loansimple.com. Our appeal process is designed to be easy to use and similar to the process for submitting your original request. We will respond to your appeal within the timeframe required by Colorado law. If you have concerns regarding the outcome of your appeal, you may contact the Colorado Attorney General.

7. Data Retention

We will retain your personal data for as long as necessary to fulfill the purposes outlined in this policy, comply with legal and regulatory requirements, or resolve disputes. Once retention is no longer required, we will securely delete or anonymize your data.

8. Security of Personal Information

We implement reasonable technical and organizational measures to protect the personal information we collect and process. These measures are designed to guard against unauthorized access, use, disclosure, alteration, and destruction of your personal data.

9. Changes to this Privacy Notice

We may update this Privacy Policy from time to time to reflect changes in our practices or legal requirements. We will notify you of any significant changes by posting the updated policy on our website or by other means.

10. Contact Information

If you have any questions about this Privacy Policy or wish to exercise your rights under the Colorado Privacy Act, please contact us at:

Loan Simple, Inc.
9800 Mt. Pyramid Ct., Suite 400
Englewood, CO 80112
303-333-2020
compliance@loansimple.com