Last Updated: November 7, 2024
Privacy Policy
Introduction
This Privacy Policy describes how Petra Loan Servicing Corp ("we," "our," or "us"), a South Carolina corporation, collects, uses, and protects information obtained through petraservicing.com (the "Website") and our loan servicing platform (the "Service"). As a loan servicer, we maintain strict standards for data privacy and security in accordance with industry regulations and applicable law.
Information We Collect
Information You Provide to Us
When you register for and use our Service, you provide us with information necessary to manage loan servicing operations. This includes business contact and identification information for account creation and management, loan portfolio details and documentation required for servicing, payment processing information, and communication preferences. We also collect information when you correspond with us by phone, email, or through our platform.
When you visit our Website and request information about our services, you may choose to provide contact information and details about your business to receive more information or schedule a demonstration of our platform.
Information We Collect Automatically
When you use our Website or Service, we automatically collect certain information about your device and how you interact with our platform. This information includes your device's Internet Protocol (IP) address, browser type and version, operating system, and other technical information necessary for security and optimal service delivery. We also collect information about how you navigate our Website and Service, including pages viewed and actions taken within the platform.
Cookies and Similar Technologies
Our Website and Service use cookies and similar tracking technologies to operate effectively and enhance your experience. These technologies allow us to remember your preferences, maintain security, and understand how our platform is used. We primarily use:
Essential cookies that enable core platform functionality and security features. These cookies are necessary for the operation of our service and cannot be disabled.
Analytics cookies that help us understand how users interact with our platform, which enables us to improve our service and user experience. These cookies collect information in an aggregated form that does not directly identify any individual user.
How We Use Your Information
We use the information we collect to provide, maintain, and improve our loan servicing platform. This includes processing and documenting loan payments, generating required statements and reports, managing borrower communications, and maintaining accurate records of all servicing activities.
We also use collected information to:
Verify your identity and maintain the security of your account
Process transactions and send related notifications
Respond to your inquiries and support requests
Generate required regulatory reports and maintain compliance
Analyze platform usage to improve our service
Detect and prevent fraudulent activity
Communicate important service updates and changes
Information Sharing and Disclosure
We share your information only in limited circumstances:
We may share information with third-party service providers who assist in operating our platform, processing payments, hosting data, and providing customer support. These service providers are contractually obligated to use the information only as necessary to provide their services to us.
We may disclose information when required by law, such as in response to a subpoena, court order, or other legal process. We may also share information when we believe in good faith that disclosure is necessary to protect our rights, protect your safety or the safety of others, investigate fraud, or respond to a government request.
We will share your information if you direct us to do so or provide explicit consent.
We do not sell, rent, or lease customer information to third parties for any purpose.
Data Security
We implement and maintain reasonable security procedures and practices appropriate to the nature of the information we collect. This includes using industry-standard encryption protocols, maintaining secure cloud infrastructure, implementing role-based access controls, and conducting regular security assessments. While we follow generally accepted standards to protect the information submitted to us, no method of transmission over the Internet or method of electronic storage is 100% secure.
Data Retention
We retain your information for as long as your account is active or as needed to provide you services. We will also retain and use your information as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. When we no longer need to use your information and there is no need for us to keep it to comply with our legal or regulatory obligations, we will either remove it from our systems or anonymize it.
Your Rights and Choices
You have certain rights regarding your information:
You may access your account information and update or correct inaccuracies by logging into your account or contacting us directly. You may also request that we provide you with a copy of your information in a structured, commonly used, and machine-readable format.
You may opt out of receiving promotional communications from us by following the instructions in those communications or contacting us. Note that you may continue to receive service-related and other non-promotional communications.
If you are a California resident, you have additional rights under the California Consumer Privacy Act (CCPA). You may request that we disclose certain information about our collection and use of your personal information over the past 12 months. You may also request that we delete your personal information, subject to certain exceptions. We will not discriminate against you for exercising your CCPA rights.
Changes to this Privacy Policy
We may update this Privacy Policy from time to time. If we make material changes, we will notify you through email, through a notice on our Website, or as otherwise required by applicable law. Your continued use of our Service after such notice constitutes your acceptance of the changes.
Contact Us
If you have questions about this Privacy Policy or our privacy practices, please contact us at:
25 Draper St, Suite A, Greenville, SC 29605
864-483-7168
hello@petraservicing.com
