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Earning the customer's trust is the key to the success of any business, and for the mortgage industry, this is especially true.  However, in the online mortgage industry, it becomes the crucial aspect to the way we do our business.

Two Main Challenges

First, since customer interaction is conducted over the Internet, we must instill a high level of confidence.  The sensitive information required to shop and apply for a loan will not be accessible to third parties. Second, our potential customers are making one of the biggest financial decisions of their lives, and we must conduct business appropriately.

Website Privacy

Being an Internet- based business, the customer must be able to trust our Internet-based services. Potential borrowers should feel comfortable revealing extremely sensitive information to us via our website. We ensure that information will be transmitted from the applicant's browser to our server using Secure Socket Layer (SSL) encryption providing complete confidentiality.

Below is an outline of The Financial Web, Inc.'s Privacy Policy:

• The Financial Web, Inc. only collects information required to accomplish tasks the customer has asked of us.
• The Financial Web, Inc. collects information only with the customer's knowledge and consent.
• The Financial Web, Inc. does not sell information about our specific customers to other organizations.
• We are not a lender. When/if you decide you want to lock a rate or get pre-approved, your loan file will be transferred to a lender securely, so that your privacy will not be compromised.
• If you are uncomfortable sending sensitive information via the Internet, you may provide your information via the phone or fax.
• Our system has always been secure.
• Access to the system which holds the loan data is restricted to authorized employees of The Financial Web, Inc.

Customer- Oriented Business Practices

Unlike traditional mortgage brokers, The Financial Web, Inc. does not use pressure sales tactics to sell a loan. We rely on the information supplied by our website to provide borrowers with enough information to know they are getting a good deal with us.

Some mortgage brokers offer great rates and points and then rely on salesmanship or even large upfront application fees to get customers to pay an unreasonable amount of money. More than a few of our customers have come to us after unfortunately applying for such a loan.

When applying for a home mortgage, surprises are usually not good. We want the customer to know the facts - how much the loan will cost up front, and what the monthly payment will be up front.

We encourage borrowers to compare the total cost of the loan. Potential borrowers might consider requiring lenders to provide a Good Faith Estimate of closing costs before giving them a cent.

Related Information

FTC Staff Report: Public Workshop on Consumer Privacy ...
        Report From a June 1996 Federal Trade Commission Workshop.
W3C Privacy Activity
        Description of the World Wide Web Consortiums Privacy Activity (P3).
CDT Privacy Issues Page
        A collection of privacy issues compiled by the Center for Democracy and Technology.

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