Privacy Policy

Verico Paragon Mortgage Inc.
#227 – 5589 Byrne Road, Burnaby, British Columbia, V5J 3J1
Phone: 604-681-1035 | Fax: 604-681-1065

Verico Paragon Mortgage Inc. (“Verico Paragon,” “we,” “us,” or “our”) is a licensed mortgage brokerage operating in British Columbia, Canada. We understand that arranging mortgage financing requires you to share sensitive personal and financial information with us, and we take the protection of that information seriously. This Privacy Policy explains how we collect, use, disclose, and protect personal information in the course of our brokerage services and through our website.

By submitting an application, providing consent, or using our website, you agree to the collection, use, and disclosure of your personal information as described below.

1. Who This Policy Applies To

This policy applies to personal information we collect from:

  • Individuals applying for mortgage financing through Verico Paragon Mortgage Inc.
  • Co-applicants, guarantors, and other parties named on a mortgage application
  • Visitors to our website
  • Individuals who contact us for mortgage-related inquiries

2. Information We Collect

Depending on the nature of your request, we may collect:

  • Identification information: name, date of birth, address, phone number, email address
  • Financial information: income, assets, liabilities, employment history, banking details
  • Government identifiers: Social Insurance Number (SIN), where provided for credit bureau purposes
  • Credit information: credit bureau reports, credit history, and related data obtained from credit reporting agencies (such as TransUnion or Equifax)
  • Property information: details related to the property being financed or refinanced
  • Information from third parties: your employer, landlord, financial institutions, spouse, or other individuals who may have relevant information about you, where you have consented to this collection
  • Website usage information: collected automatically through cookies and similar technologies (see Section 6)

3. Why We Collect and Use This Information

We collect and use personal information to:

  • Evaluate your creditworthiness and mortgage application
  • Verify the information provided in your application
  • Communicate with you regarding your application and our services
  • Prepare and submit applications to potential mortgage lenders and mortgage insurers
  • Comply with legal, regulatory, and anti-money laundering (AML) obligations
  • Improve our services and website

We do not collect more information than is reasonably required for these purposes.

4. Consent and Credit Bureau Reporting

Before obtaining a credit report or disclosing your information to third parties, we require your signed consent, typically provided through our Credit Consent Form at the time of application. By signing that form, you specifically authorize us to:

  • Obtain credit and identity information about you from credit reporting agencies (such as TransUnion), financial institutions, employers, landlords, and other sources
  • Disclose your application and personal information, including your SIN where provided, to potential mortgage lenders, mortgage insurers, and service providers involved in processing your application
  • Permit those lenders, insurers, and service providers to collect, use, hold, and further disclose your information for the purpose of evaluating and administering your mortgage application

Each credit reporting agency, lender, insurer, or service provider receiving your information is authorized to rely on this consent for their own collection and verification purposes related to your application.

You may withdraw consent at any time, subject to legal or contractual restrictions, by contacting our Privacy Officer (Section 10). Withdrawing consent may limit or end our ability to process your mortgage application.

5. Disclosure of Personal Information

We disclose personal information only as necessary to carry out the purposes described above, and only to:

  • Mortgage lenders and mortgage insurers, to evaluate and respond to your financing request
  • Credit reporting agencies (such as TransUnion), to obtain and verify credit information
  • Service providers, including technology providers, underwriters, lawyers/notaries, and appraisers involved in processing your application
  • Regulatory bodies, where required by law (e.g., under provincial mortgage broker legislation or federal AML/FINTRAC requirements)
  • Other parties you have specifically consented to, such as a co-applicant’s representatives or a referring realtor, where applicable

We do not sell personal information, and we do not disclose personal information for third-party marketing purposes without your express consent.

6. Website, Cookies, and Tracking

Our website may use cookies and similar tracking technologies to:

  • Understand how visitors use our site
  • Improve website functionality and user experience
  • Measure the effectiveness of our content

Cookies collect non-identifying information such as browsing behaviour and general location. You can manage or disable cookies through your browser settings; doing so may affect certain site features.

If we use SMS/text messaging to communicate with you, mobile information is used solely to respond to you and deliver service-related messages. Mobile opt-in data and consent are never shared with third parties for marketing purposes.

7. Data Retention

We retain personal information only as long as necessary to fulfill the purposes described in this policy, or as required by:

  • Provincial mortgage broker regulations
  • Federal anti-money laundering (AML) and FINTRAC recordkeeping requirements
  • Other applicable legal or regulatory obligations

Once information is no longer required, we take reasonable steps to securely destroy or de-identify it, subject to the retention requirements above.

8. Data Security

We use administrative, physical, and technical safeguards to protect personal information against unauthorized access, use, or disclosure, including secure file storage, restricted internal access, and encryption where appropriate. No transmission of data over the internet or storage system can be guaranteed 100% secure; while we take reasonable steps to protect your information, you provide it at your own risk.

9. Your Rights

Subject to applicable law, you have the right to:

  • Request access to the personal information we hold about you
  • Request correction of inaccurate or incomplete information
  • Withdraw consent for the collection, use, or disclosure of your information (subject to legal, contractual, or regulatory limitations)
  • Ask questions about how your information is being handled

Requests may take reasonable time to process, and certain records (such as those required under AML regulations) may not be eligible for deletion.

10. Contact Us / Privacy Officer

If you have questions, concerns, or requests regarding this Privacy Policy or your personal information, please contact:

Privacy Officer Verico Paragon Mortgage Inc. #227 – 5589 Byrne Road Burnaby, British Columbia, V5J 3J1 Phone: 604-681-1035 Fax: 604-681-1065 Email: [insert privacy officer email]

11. Changes to This Policy

We may update this Privacy Policy from time to time to reflect changes in our practices, services, or legal requirements. The revised policy will be posted on our website with an updated effective date.