Privacy and Legal Disclaimer
Privacy Statement
Citadel Mortgages values your privacy and is committed to protecting your personal information. This Privacy Statement outlines how we collect, use, disclose, and safeguard the information provided to us, in compliance with applicable Canadian privacy laws, including the Personal Information Protection and Electronic Documents Act (PIPEDA).
By using this website or engaging with our services, you consent to the collection, use, and disclosure of your personal information as described in this policy.
Information Collection and Usage
To facilitate mortgage services and provide accurate recommendations, Citadel Mortgages collects and processes the following types of personal information:
- Contact Details: Name, address, phone number, and email address.
- Financial Information: Income, debts, assets, credit history, and related documentation.
- Transaction Data: Information pertaining to mortgage applications and inquiries.
- Website Interaction: Cookies and log files track browsing preferences and enhance user experience.
Purpose of Collection:
- To process and complete mortgage applications.
- To comply with legal and regulatory requirements.
- To provide personalized advice and efficient service.
- To enhance customer experience and website functionality.
Data Security: Citadel Mortgages employs industry-standard security protocols to safeguard your personal data. Access is restricted to authorized personnel, and information is stored securely to prevent unauthorized access.
Data Sharing: We do not sell, trade, rent, or transfer your personal information to third parties. Information may only be shared under the following conditions:
- When required by law (e.g., compliance with court orders, subpoenas, or regulatory inquiries).
- With trusted third parties to prevent fraud or facilitate secure transactions.
- In cases where explicit client consent is obtained.
Cookies and Log Files
Our website utilizes cookies to:
- Store user preferences for enhanced browsing experiences.
- Simplify access to features by remembering login details.
- Track website usage patterns to improve functionality.
Cookies are small data files stored on your browser. You may configure your browser to reject cookies or notify you when cookies are being sent. Disabling cookies may affect certain features of our website.
Log Files: We collect IP addresses and other metadata to monitor traffic, analyze trends, and enhance user experience. This information is anonymized and is not linked to personally identifiable information.
External Links
Our website may contain links to third-party websites for informational purposes. Citadel Mortgages does not endorse or take responsibility for the content, privacy policies, or practices of these external sites. Users are advised to review third-party privacy statements before engaging with their services.
Subscription Services
By subscribing to Citadel Mortgages’ email services, you agree to receive periodic updates, promotional content, and service-related announcements. Users can unsubscribe at any time by:
- Clicking the “Unsubscribe” link at the bottom of our emails.
- Contacting us directly via the Contact Us page.
- Replying “Stop” to any SMS or email.
We promptly honor all opt-out requests, ensuring compliance with the Canadian Anti-Spam Legislation (CASL).
Canadian Anti-Spam Legislation (CASL) Compliance
Citadel Mortgages adheres to CASL, which regulates the distribution of commercial electronic messages (CEMs). Our Commitment:
- Emails will include accurate sender information and a clear identification as promotional content (where applicable).
- Opt-out requests are honored without delay.
- The sender’s physical address will be included in all communications.
If you wish to unsubscribe, follow the instructions provided in our emails or contact us directly.
Esso and Mobil Price Privileges™
As part of certain promotional programs, Citadel Mortgages offers Price Privileges™ fuel discount cards. These cards provide per-litre savings on fuel purchases at participating Esso™ and Mobil™ stations across Canada.
Terms and Conditions:
- Fuel discount cards are not gift cards and do not cover the full cost of fuel purchases.
- Savings apply only to qualifying purchases.
- For complete terms, visit: giftcards.esso.ca/terms.
Trademarks:
- Esso and Price Privileges are trademarks of Imperial Oil Limited.
- Mobil and Speedpass+ are trademarks of Exxon Mobil Corporation or its subsidiaries.
Travel Incentive Terms
Citadel Mortgages collaborates with trusted partners to provide travel incentives as part of its customer programs. To learn more about the terms and eligibility for travel incentives, please visit: Travel Savings Terms.
Social Awareness Program and Planting Trees
As part of our commitment to social responsibility, Citadel Mortgages offers the Social Awareness Program, which includes:
- Tree Planting Initiative: Clients may request a tree to be planted in their name or the name of a loved one.
- Charitable Donations: Clients can select from a pre-approved list of charities to receive a donation.
Important Notes:
- Citadel Mortgages reserves the right to approve or decline charity recommendations based on internal vetting processes.
- Donations are subject to internal approval and are not guaranteed.
- Participation in these programs does not create a contractual obligation on Citadel Mortgages to fulfill specific preferences.
Mortgage Rate Disclaimer
All mortgage rates displayed on our website or provided by Citadel Mortgages agents are for informational purposes only. Rates are subject to change based on:
- Provincial regulations.
- Individual financial qualifications.
- Lender policies.
Important: A mortgage agreement becomes binding only upon issuance of a Broker Complete Notification. If a lender cancels your mortgage financing or if at any time Citadel Mortgages is instructed to not proceed with mortgage financing Citadel Mortgages is not liable.
Regulatory Compliance
Citadel Mortgages complies with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), as enforced by FINTRAC. Key Compliance Measures:
- Identity Verification: All clients must verify their identity through approved methods, such as Veriff or any other service provider that Citadel Mortgages is partnered with.
- Record Retention: Personal and transaction records are retained for six (6) years after the latest application or loan expiry date.
- Suspicious Activity Reporting: Large transactions (over $10,000) or unusual financial behaviors are reported to FINTRAC.
For more details, visit FINTRAC.
Why Identity Verification is Required by FINTRAC
As of October 11, 2024, FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) requires all mortgage and insurance brokerages to verify their clients’ identities through third-party systems, such as Veriff, under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). This measure helps prevent financial crimes like money laundering and terrorist financing by ensuring a secure, transparent process for identity verification.
According to FINTRAC regulations (PCMLTFA, Section 57.1), brokerages must use approved third-party services to complete this process. If you have concerns or are dissatisfied with this requirement, you may file a complaint directly with FINTRAC by visiting their official website.
You can also review this FINTRAC website as well – https://fintrac-canafe.canada.ca/re-ed/mortgage-hypotheque-eng
Your compliance is vital to our adherence to national security standards and ensuring the safety of Canada’s financial system.
As of October 11, 2024, all mortgage and insurance brokerages in Canada must comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), as enforced by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). These regulations are aimed at preventing money laundering, terrorist financing, and other financial crimes. As part of this compliance, brokerages are required to implement specific measures to verify client identities and monitor financial transactions.
Key Requirements:
Identity Verification:
Brokerages must verify the identity of all clients through approved verification processes, including online tools like Veriff, to ensure compliance with FINTRAC regulations.
The verification must occur before entering into any business relationship, such as mortgage approvals or insurance policy issuance.
This applies to both individuals and entities (such as corporations and trusts)
Record Keeping:
Brokerages must maintain detailed records of client identification, including documents used for verification, for a minimum of seven years after the termination of the business relationship.
Information must be kept secure and made available to FINTRAC upon request.
Monitoring and Reporting:
Brokerages are required to continuously monitor transactions for suspicious activity and report any transactions that appear unusual, especially those involving large sums or high-risk clients.
Suspicious Transaction Reports (STRs) must be submitted to FINTRAC promptly upon detection of unusual or suspicious behavior.
Large cash transactions (above $10,000) must be reported to FINTRAC.
Compliance Program:
Brokerages must establish and implement a full compliance program that includes a risk assessment, written policies and procedures, regular employee training, and appointment of a compliance officer responsible for overseeing compliance with FINTRAC regulations.
Brokerages must also conduct regular reviews of their compliance program to ensure its effectiveness.
Penalties for Non-Compliance:
Non-compliance with FINTRAC’s regulations may result in severe penalties, including fines, sanctions, or loss of brokerage licenses. In cases of deliberate non-compliance or failure to prevent money laundering, criminal charges may apply.
These measures are critical for maintaining the integrity of Canada’s financial systems and for ensuring that mortgage and insurance brokerages adhere to international standards in preventing financial crime.
For more information on FINTRAC requirements and compliance, please refer to FINTRAC’s official website
Fraud Prevention Policy
Citadel Mortgages maintains a strict zero-tolerance policy for mortgage fraud. Any suspicion of fraudulent activity should be reported immediately through our Contact Us page. All reports are handled confidentially, and investigations are conducted promptly.
Licensing and Office Locations
Citadel Mortgages operates under the following licenses:
- Ontario: FSRA 12993
- Saskatchewan: FCAA 509446
- Nova Scotia: 2021-3000010
- Alberta, PEI, Nunavut, Newfoundland: 21-07-CI083-1
- New Brunswick: 210031130
- British Columbia: X301267
- Manitoba
For a full list of office locations, visit: Contact Us.
Google Analytics and AdWords
We use Google Analytics and AdWords Remarketing to:
- Analyze website traffic and improve functionality.
- Display targeted advertisements based on user activity.
For more information or to manage your preferences:
Legal Notices
- No Warranty: Citadel Mortgages does not guarantee the accuracy of website content.
- Limitation of Liability: Citadel Mortgages is not liable for damages arising from website use.
- Copyright: Unauthorized use or reproduction of website content is strictly prohibited.
Our Mortgage Brokers
At Citadel Mortgages, our team includes mortgage agents, mortgage brokers, sub-mortgage brokers, mortgage associates, restricted mortgage brokers, associate mortgage brokers, hiring directors, and underwriters. All team members are independent, commission-based contractors.
While their licenses are registered under Citadel Mortgages, and they operate independently, they are required to follow the brokerage’s policies, procedures, processes, and all requirements as per industry regulations. This ensures compliance with the highest standards of professionalism and ethical conduct in the mortgage industry.
We provide our contractors with:
- Extensive Training Programs: Covering compliance, regulatory requirements, client engagement, and business development.
- Access to Tools and Resources: Including CRM systems, loan origination software (LOS), marketing templates, and lender connections.
- Dedicated Support: A team of underwriters, compliance officers, and experienced mentors to guide them through the process.
- Ongoing Development Opportunities: Regular workshops, coaching sessions, and access to industry insights to help refine their skills.
It is important to note that, as independent contractors, our team members manage their schedules, build their client base, and operate their businesses under the Citadel Mortgages umbrella. However, they are expected to adhere to the brokerage’s policies and regulatory requirements at all times to maintain compliance and protect the integrity of the brokerage.
This structure empowers our team members to grow their businesses while ensuring they meet all legal, regulatory, and professional standards.
Applicable Law
This Privacy and Legal Disclaimer is governed by the laws of Ontario, Canada. All disputes will be resolved exclusively in Ontario courts.
For any questions or concerns, please contact us via our Contact Us page.
