BBB Standard in Action – Standard 7: Safeguard Privacy

THINK OUTSIDE THE BOX:  Mortgages involve the use of the sensitive financial and personal information that needs to be secure for data transfers.

The seventh BBB Standard for Trust is “Safeguard Privacy” defined by BBB as the ability to “Protect any data collected against mishandling and fraud, collect personal information only as needed, and respect the preferences of consumers regarding the use of their information.”

Canada Mortgage Lender (CML) is part of VERICO, an independently owned and operated mortgage brokerage network with more than 190 locations in Canada.

Pierre Delesalle, director of CML for Alberta and Saskatchewan, says mortgages involve the use of the sensitive financial and personal information that needs to be secure for data transfers.

Most Canadian brokers use the same encrypted data platform as the banks -Filogics-to do business,” he says. “This is essentially a paperless system. Once we upload the information, it’s either returned to the client or securely disposed of. We have a number of additional safeguards as well, including federal and provincial legislation we must adhere to. We are also accountable within our own industry through our association and must supply yearly reports.”

CML is a newly BBB-Accredited Business. Delesalle says CML joined BBB because of BBB’s connection to trust. “One of the big advantages of being a BBB-Accredited Business is BBB’s track record,” he says. “BBB is in good standing with a number of organizations. Honesty is rare these days and BBB is very credible. People need to be able to trust us with their data.”

Delesalle says his business philosophy is simple. “Information and knowledge aren’t enough anymore,” he says. “ Relationships are back in style .We want consumers to know CML is committed to protecting their personal information. We want to develop a long-term relationship, a relationship as opposed to a transaction.”

Delesalle says despite the challenges of the mortgage broker industry, the reward for helping people secure a mortgage is priceless. “For most people it’s the biggest purchase of their lives,” he says. “It’s super rewarding being able to help put people in a house.”

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