Welcome to IRESE. We strongly believe that consumers deserve the utmost
respect when it comes to the privacy of their personal information. Our privacy
policy applies to all current and former IRESE members. Following is a summary
of IRESE's privacy practices. Click on any of the topics below or scroll down
to get more details.
We collect
information about you:
- Directly from you as a community member at the time of registration.
- Periodically as you update your profile information.
- From outside sources such as credit bureaus in order to offer you the services
you request through this web site.
- Through feedback from other users of IRESE with whom you may conduct business.
We share
your information:
- With other members of IRESE, but only as much information as you choose to
reveal about yourself.
- With third parties that are involved in the process of providing the services
that you request, such as credit bureaus, customer service providers, and
collection agencies.
- As permitted or required by law.
- IRESE does not sell or rent your information to third parties for
marketing purposes.
We give
you choices regarding your information:
- You have choices about the personal information you display about yourself.
- We give you easy access to update your personal profile and view your
transaction documents.
- You can update your personal preferences at any time.
We share
and display certain credit and loan status information only with registered Brokers and Investors:
- We display Property Owner applications only to registered Brokers and Investors on the IRESE web site.
- Registered IRESE investors are able to view additional credit data from credit
bureau files of owners.
- We display payment status information on loans to registered Brokers and Investors.
- We notify Brokers and Investors of the delinquencies on owners' loans.
- We notify brokers and bidding investors of cancellations of your applications.
We protect
your information:
- Using Secure Socket Layer (SSL) encryption technology to protect your personal
information that you submit to IRESE.
- By limiting employee and third party access to your personal information on a
"need to know" basis.
Links to other important information:
You can give us feedback or submit questions at any time by contacting customer support .
Note Regarding Children Under 18
Members of the IRESE community must be U.S. Residents that are 18 years of age
or older. Children under the age of 18 are not eligible to participate in the
offerings on this web site.
We collect information about you
IRESE collects personal information as part of the registration process for
people and company joining the IRESE.
This information includes name, email,
address, and telephone number.
We may collect your social security number, business tax number and
driver license number in order to help determine your credit grade and verify
your identity. If you have a question regarding our services prior to
registering as a member, we may collect your name and email address in
order to respond to your requests.
If you submit an application as an owner for a Mortgage Financing, the application will contain
basic information regarding your credit grade and other financial information,
in addition to any other information about the property you make the personal decision to post.
We use your name and social security number to request a credit report. We use
information from your credit bureau file to verify your identity, protect
against fraud, and provide IRESE investors with a more complete picture of a
owner's credit history.
We use your information to prepare your Mortgage Financing application and to
facilitate requested transactions in the IRESE. This includes:
- Obtaining credit information in order to determine your credit grade.
- Communicating with financial service companies to facilitate automatic payments,
notes sales, and other services in order to complete your transactions.
- Assisting members in completing transactions with other members, including
arranging email contacts and collection services if necessary.
If we have trouble processing a transaction, we may use this information to
contact you.
We share your information
If you choose to ask someone to join IRESE, or if you
choose to use our referral service to tell a friend about our web site, we will
ask you for your friend's email address.
We will automatically send your friend
a one-time email inviting him or her to visit the web site. We store this
information for the sole purpose of sending this one-time email and tracking the
success of our referral program. Your friend may click on the unsubscribe link
at the end of the email to prevent IRESE from sending additional email to his
or her email address.
We have relationships with trusted third parties that perform services on our
behalf. This includes credit bureaus, customer service agents, and collection
agencies. We share information with these service providers in order to complete
the transactions that you request. All service providers are bound by contract
to maintain the confidentiality of your personal information.
We may share your information with law enforcement or other government agencies
as required by law.
IRESE does not sell or rent your personal information to third parties
for marketing purposes.
We give you choices regarding your information
Some information is required in order to participate in the IRESE.
For example, we need certain information in order to verify your identity as an
individual and establish your credit grade.
Some information is optional, such as some details about your property.
You can share as much or as little optional information as you
like. Property Owner applications must not include any personally identifiable
information, but otherwise the information you choose to share in an application is
entirely your own choice, and you share this information at your discretion.
You have the ability to view the Mortgage Financing, Home Equity Protection Plan and Future Equity Agreement agreements
and other documentation you may have in place in connection with your activities as a Property Owner.
These documents are accessible through your member account page when you
log in.
You have the ability to view the Real Estate Options and Real Estate Notes agreements
and other documentation you may have in place in connection with your activities as an Investor or a Broker. .
These documents are accessible through your member account page when you
log in.
You can access and review the personal information you submit at any time. To
update your personal profile information, you can log in to your account using
your email address and password specified at the time of registration.
Go to "Home> My IRESE > Profile" and make changes to your profile as
necessary. Take me there
We give you the opportunity to "opt-out" of having your personally identifiable
information used for certain purposes. For example, you can elect not to receive
newsletters, promotional material, event
notifications, research or surveys, and Broker notifications.
You can opt
out of receiving these communications, or you can view or change your account
opt-out preferences.
Go to "Home> My IRESE > Profile" and make changes to your preferences as
necessary. Take me there
There are some
messages you cannot opt out of, typically for security or legal reasons.
Examples of these include messages regarding fund transfer activity with your
accounts, notifications regarding upcoming payments, certain changes to legal
agreements, and required disclosures.
The information we collect from you when you register as a IRESE member is
kept securely in our database. We retain this information to satisfy legal
requirements such as recordkeeping and tax and credit reporting requirements, as
well as for purposes of fraud prevention, auditability and data integrity.
We share and display certain credit and Mortgage Financing status information
If you register as an owner and create a Mortgage Financing application, we display your application to registered Brokers and Investors only –
including IRESE credit grade, debt-to-income ratio, loan-to-value ration and the
property information your provided and verified for your application – privately to registred Investors and Brokers on the IRESE
web site. Registered IRESE Brokers and Investors are able to also view the following
additional credit data based on your credit bureau file:
- The number of accounts on which you are currently late on a payment; this
includes any unpaid charge-offs or other derogatory balances.
- The total past-due amount you owe on all delinquent and charged-off accounts;
- The number of 90+ days past-due delinquencies in your credit file in the last 7
years.
- The number of negative public records on your credit file over the last 12
months, and over the last 10 years; negative public records include, among other
things, bankruptcies, liens, and judgments.
- The month and year your first recorded credit line was opened; credit lines may
include, among other things, revolving, installment, and mortgage credit.
- The total number of credit lines appearing in your credit file, along with the
number that are open and current; credit lines may include, among other things,
revolving, installment, and mortgage credit.
- The total balance on all of your open revolving credit lines.
- Your bankcard utilization ratio, expressed as a percentage, reflecting the ratio
of the total balance used, to the aggregate credit limit on, all of your open
bankcards.
- The number of inquiries made by creditors in the last six months, as shown in
your credit file.
If you obtain a financing through Mortgage Financing as a property owner, we display note status information
on your financing.
We use computer generated symbol to identify your Mortgage Financing.
If you become fifteen (15) days delinquent on your note payments, we will notify your Broker of the delinquency.
If your application is cancelled by IRESE, we notify your Broker and Investor who bid on your application of the
cancellation.
We protect your information
At IRESE, we are committed to maintaining the security and confidentiality of
your personal and financial information. We maintain physical, electronic, and
procedural safeguards that meet or exceed industry standards for financial
institutions.
We protect your sensitive account information by storing it in encrypted form on
computers not connected to the Internet. We control access to this information
via secure web pages, and limit access to only those employees or third parties
on a need to know basis. We do not allow visibility to Social Security number,
bank account information, or credit card information via the web site.
We employ firewalls and other security technologies to protect our servers from
external attack. We enable our servers with Secure Socket Layer (SSL) technology
to establish a secure connection between your computer and our servers, creating
a private "conversation" that cannot be viewed or accessed by other parties. We
test our systems regularly to insure that our security mechanisms are up to
date.
The security of your account also depends on the protection of your IRESE
password. You should not share this password with anyone. We have developed
procedures for recovering your password which will not require you to send us
your password via email or give it out over the phone. If you ever receive an
email requesting entry of your email address and/or screen name and password,
please confirm that you are on a web site with a URL beginning
http://www.irese.com/ or https://www.irese.com.
Federal and state regulations may require that we maintain and report aggregate
demographic information on members who participate in transactions. We may also
maintain information, including personally identifiable information of our
members, for a period of seven years or more in accordance with federal and
state laws.
Marketing preferences
IRESE does not sell or rent your information to third parties or marketing
firms. We do send communications to you periodically to notify you of status or
events related to your participation in our community. Some of these
communications are required as part of transactions you are contemplating or
have completed through our web site.
Our use of cookies
Cookies are small text files created by a web site that store information on
your computer, such as your preferences when visiting that site. IRESE uses
cookies when you sign in, to keep track of your personal session, including some
account identifiers so that we can ensure that you are the only person making
changes to your account. We also use cookies to track your activity on our site
as a unique person. All of this information is stored in an encrypted fashion
for security reasons, and no personal information about you is stored.
We use session ID cookies to make it easier for you to navigate our site.
Session ID cookies expire when you close you browser. We use a persistent cookie
that remains on your hard drive for an extended period of time, so that we can
recognize you when you return to our web site. You can remove persistent cookies
by following directions provided in your Internet browser's "help" file;
however, because we use cookies for our sign-in functionality, if you choose to
disable cookies you will not be able to log on to the IRESE web site.
Our use of web beacons
We employ a software technology called clear gifs (a.k.a. web beacons),
that help us better understand user interaction with our web site. Clear gifs
are tiny graphics with a unique identifier, similar in function to cookies, and
are used to track the online movements of Web users. In contrast to cookies,
which are stored on a user's computer hard drive, clear gifs are embedded
invisibly on Web pages and are about the size of the period at the end of this
sentence. We do not tie the information gathered by clear gifs to our
customers' personally identifiable information.
Third party links
IRESE may post links to third party web sites that are not subject to this
privacy policy. Some member pages may also contain links unrelated to IRESE.
If you visit these web sites, we encourage you to read their privacy policies
before providing them with any personal information.
Helpful tips on protecting your information
Screen name selection
Your screen name is what IRESE use to identify you in any communication to protect your privacy. You
should choose a screen name that does not closely resemble your real name.
Password reminder
It is a good practice to select a password reminder for your account
that is only known to you and would be difficult for someone to guess.
Another good practice is to change your password periodically (every 90 days).
State law
You may have privacy rights under applicable state law in addition to those
outlined in this privacy policy.
Changes to this policy
To accommodate changes to our web site, changing technology, and possible legal
requirements, IRESE may change this privacy policy at any time. We will
promptly post any policy changes to this page and notify our members directly
with notice of any material changes.
For additional information, or if you have any questions regarding this policy
or the privacy practices at IRESE, please contact us.
Last revision date: September 1, 2010