GMAC Residential Funding of Canada, Limited Company Privacy Policy

At GMAC Residential Funding of Canada, Limited ("GMAC RFOC") we are committed to maintaining the accuracy, confidentiality and security of your personal information. This Privacy Policy describes the personal information that GMAC RFOC collects from or about you, how we use and protect it, to whom we may disclose it and your right to access your information.

This Privacy Policy applies to the personal information of all customers of GMAC RFOC in Canada. GMAC RFOC's Employee Privacy Policy applies to the personal information of an individual who seeks to be, is or was employed by GMAC RFOC.

Privacy Policy Effective for Canada

It is GMAC RFOC's policy to keep your personal information confidential and to comply with the privacy legislation within each jurisdiction in which we operate. Privacy legislation and / or an individual's right to privacy may differ from one jurisdiction to another. This Privacy Policy covers only those activities that are subject to the provisions of Canada’s federal and provincial privacy laws, as applicable.

This Privacy Policy has a limited scope and application. Consequently, the rights and obligations contained in this Privacy Policy may not be available to all individuals or in all jurisdictions. If you are unsure if or how this Privacy Policy applies to you, please contact our Privacy Officer for more information.

Copies of this Privacy Policy are available at our head office.

What is Personal Information?

For the purposes of this Privacy Policy, personal information is any information about an identifiable individual, other than the person's business title or business contact information when used or disclosed for the purpose of business communications.

What Personal Information do we Collect?

We collect and maintain different types of personal information in respect of our customers with whom we interact. This includes:

• contact and identification information, such as your name, address, telephone number, e-mail address, date of birth, marital status and proof of identity;
• product and service related information concerning the products and services that we provide to, or receive from, you;
• credit and financial information such as your employment history, income sources, assets, liabilities, credit history and payment preferences; and
• business relationship information, including information related to your agreements, preferences, advisors and decision-makers, feed-back and information requested by or provided to you.

In circumstances where GMAC RFOC is required by law to collect your social insurance number (SIN), for example in respect of deposit accounts, we will require you to provide your SIN and we will be unable to provide the requested product or service if you do not provide your SIN. In all other circumstances, for example to assist us to verify your credit related information, provision of your SIN is optional, though in some circumstances alternative information may be required to verify identity or may otherwise be required in order to provide a particular product or service.

In addition, we may collect your personal information in connection with our mortgage financing or other financial services and as more fully described in a mortgage commitment letter or a credit application provided to you during the credit application and review process.

We may also collect market-related information, which may include personal information, concerning market trends and activities impacting our business. This information may include contract terms, financial information and other information for the purpose of market analysis and strategic planning. We may also collect information related to our media, investor and public relations activities and information related to our interactions with financial and other analysts and advisors.

As a general rule, GMAC RFOC collects personal information directly from you. In most circumstances where the personal information that we collect about you is held by a third party, we will obtain your permission before we seek out this information from such sources and such permission may be given directly by you, or implied from your actions.

From time to time, we may utilize the services of third parties in our business. For example, we may use third party suppliers to print statements, conduct telemarketing, collect accounts or process transactions on our behalf. We select third party suppliers carefully and insist that they have privacy and security standards that meet GMAC RFOC’s requirements and comply with applicable privacy laws. Similarly, your payment transactions may be processed through payment systems operated by others and we may share your personal information with these operators on a confidential basis to process transactions, provide customer service and for other reasonable purposes. We may also receive personal information collected by those third parties in the course of the performance of their services for us or otherwise. Where this is the case, we will take reasonable steps to ensure that such third parties have represented to us that they have the right to disclose your personal information to us.

Where permitted or required by applicable law or regulatory requirements, we may collect information about you without your knowledge or consent.

Why Do We Collect Personal Information?

GMAC RFOC collects personal information to enable us to manage, maintain, and develop our business and operations, including:

• to establish your identity and to establish, maintain and manage our relationship with you so that we may provide you with the products and services that have been requested;
• where you have requested credit (directly or as a guarantor), (i) to determine your financial situation; (ii) to determine your initial and ongoing needs and eligibility for mortgage and other credit products; (iii) to manage our level of risk and to assess your eligibility for credit products; (iii) to administer or service your mortgage or other credit product; (iv) to arrange for and in connection with the financing of our mortgage business; and (v) as otherwise necessary for the provision of mortgage services and protection of our security interest in our mortgage;
• to provide ongoing service;
• to be able to review the products and services that we provide to you so that we may understand your requirements for our products and services and so that we may work to improve our products and services;
• to be able to review the products and services that we obtain from you so that we may work with you and so that you may understand our requirements for such products and services;
• to be able to comply with your requests (for example, if you prefer to be contacted at a business or residential telephone number and advise us of your preference, we will use this information to contact you at that number);
• to protect you and us against error, fraud, theft and damage to your and our goods and property, including verifying your identity;
• to enable us to comply with applicable law and regulatory requirements; and
• any other reasonable purpose to which you consent.

How Do We Use and Disclose Your Personal Information?

We may use or disclose your personal information:

• for the purposes described in this Privacy Policy; or
• for any additional purposes for which we have obtained your consent to the use or disclosure of your personal information.

We may use or disclose your personal information without your knowledge or consent where we are permitted or required by applicable law or regulatory requirements to do so.

When do we Disclose Your Personal Information?

We may share your personal information with our employees, contractors, consultants and other parties who require such information to assist us with managing our relationship with you, including: third parties that assist GMAC RFOC in the provision of services to you and third parties whose services we use to conduct our business. Third parties may include our related parties or affiliates who process and store your personal information for us.

Where you have requested credit (directly, or as a guarantor), we may share your personal information with: (i) credit bureaus, credit reporting agencies, mortgage insurers and financial institutions to confirm your financial situation and your initial and ongoing eligibility for mortgage services; (ii) persons retained to administer or service your mortgage for the purpose of such administration or servicing; (iii) persons (or their permitted assignees) involved in the financing or securitizing, or facilitation of the financing and securitizing, of our mortgage business for the purpose of their providing or facilitating such financing or securitizing (which may include the administration or servicing of your mortgage by them or their agents); and (iv) other persons as necessary for the provision of mortgage and credit services to you and the protection of our security interest in our mortgage.

We may disclose your personal information to our outside or third party suppliers and to our related parties or affiliates who provide data processing and storage services to us. GMAC RFOC, its outside or third party suppliers and related parties or affiliates and credit bureaus to whom we disclose personal information under this policy may perform activities outside of Canada. As a result, your personal information may be securely used, stored or accessed in other countries and may be subject to the laws of those countries. For example, information may be disclosed in response to valid demands or requests from government authorities, courts, or law enforcement agencies in those countries.

In addition, personal information may be disclosed or transferred to another party where business transactions are involved during the course of, or on completion of, a change in ownership of all or part of our business or the grant of a security interest in or sale, transfer or securitization of, all or a part of our assets or a sale of the shares of GMAC RFOC or its affiliates, or some other form of business combination, amalgamation, merger or joint venture, provided that parties to whom personal information is disclosed or transferred during the course of or on completion of any such business transactions are bound by appropriate confidentiality agreements and obligations and are required to use or disclose your personal information in a manner consistent with the use and disclosure provisions of this Privacy Policy, unless you consent otherwise.

Further, your personal information may be disclosed:

• as permitted or required by applicable law or regulatory requirements;
• to comply with valid legal processes such as search warrants, subpoenas or court orders;
• in order to administer or service your mortgage or other credit product;
• to protect the rights and property of GMAC RFOC;
• during emergency situations or where necessary to protect the safety of a person or group;
• where the personal information is publicly available; or
• with your consent.

Your Consent is Important to Us

It is important to us that we collect, use or disclose your personal information where we have your consent to do so. Depending on the sensitivity of the personal information, your consent may be implied, deemed (using an opt-out mechanism) or express. Express consent can be given orally, electronically or in writing. Implied consent is consent that can reasonably be inferred from your action or inaction. For example, when you enter into an agreement with us, we will assume your consent to the collection, use and disclosure of your personal information for purposes related to the performance of that agreement, for the purposes set out in this Privacy Policy and for any other purposes identified to you at the relevant time.

Typically, we will seek your consent at the time that we collect your personal information. In certain circumstances, your consent may be obtained after collection but prior to our use or disclosure of your personal information. If we plan to use or disclose your personal information for a purpose not previously identified (either in this Privacy Policy or separately), we will endeavour to advise you of that purpose before such use or disclosure.

As we have described above, we may collect, use or disclose your personal information without your knowledge or consent where we are permitted or required to do so by applicable law or regulatory requirements and where we may have to collect, use or disclose personal information to protect our interests.

Choice/Opt-Out

You may change or withdraw your consent to our collection, use or disclosure of your personal information at any time, subject to legal or contractual obligations and reasonable notice, by contacting our Privacy Officer using the contact information set out below. All communications with respect to such withdrawal or variation of consent should be in writing and addressed to our Privacy Officer. In certain circumstances, the withdrawal of consent may render us unable to continue to provide products or services where the collection, use or disclosure of your personal information is necessary to provide the product or service.

We assume that, unless you advise us otherwise, you have consented to the collection, use and disclosure of your personal information as explained in this Privacy Policy.

We share information with our Affiliates

We may share your personal information within the GMAC RFOC Group for legal and regulatory purposes, to manage credit and other business risks and to ensure your personal information is accurate and up-to-date. You may not withdraw your consent for this sharing.

How is Your Personal Information Protected?

GMAC RFOC endeavours to maintain physical, technical and procedural safeguards that are appropriate to the sensitivity of the personal information in question. These safeguards are designed to prevent your personal information from loss and unauthorized access, copying, use, modification or disclosure.

Updating Your Personal Information

It is important that the information contained in our records is both accurate and current. If your personal information happens to change during the course of our relationship, please inform our Customer Service department of this change using the contact information set out below under the heading “Inquiries and Concerns”. If our Customer Service department is unable to help you, please contact our Privacy Officer using the contact information below.

In some circumstances we may not agree with your request to change your personal information and will instead append an alternative text to the record in question.

Access to Your Personal Information

You can ask to see your personal information. If you want to review, verify or correct your personal information, please contact our Customer Service department, and if our Customer Service department using the contact information set out below under the heading “Inquiries or Concerns” is unable to help you, please contact our Privacy Officer using the contact information set out below under the heading “Privacy Officer”. Please note that any such communication must be in writing.

When requesting access to your personal information, please note that we may request specific information from you to enable us to confirm your identity and right to access, as well as to search for and provide you with the personal information that we hold about you. We may charge you a fee to access your personal information; however, we will advise you of any fee in advance. If you require assistance in preparing your request, please contact our Customer Service department. If our Customer Service department is unable to help you, please contact our Privacy Officer using the contact information below.

Your right to access the personal information that we hold about you is not absolute. There are instances where applicable law or regulatory requirements allow or require us to refuse to provide some or all of the personal information that we hold about you. In addition, the personal information may have been destroyed, erased or made anonymous in accordance with our record retention obligations and practices.

In the event that we cannot provide you with access to your personal information, we will endeavour to inform you of the reasons why, subject to any legal or regulatory restrictions.

Retention of Personal Information

The length of time we keep your personal information may vary depending on the product or service and the nature of the personal information. Our personal information retention standards meet customer service, legal and regulatory requirements and may require us to keep your personal information beyond the end of your relationship with us. When your information is no longer required, we securely destroy it or delete personally identifiable information.

Inquiries or Concerns?

If you have any questions about this Privacy Policy or concerns about how we manage your personal information, please contact our Customer Service department by telephone, in writing or by e-mail. We will endeavour to answer your questions and advise you of any steps taken to address the issues raised by you. If our Customer Service department is unable to help you, please contact our Privacy Officer using the contact information below. If you remain dissatisfied with our response, you may be entitled to make a written submission to the Privacy Commissioner in your jurisdiction.

Privacy Officer

We have appointed a Privacy Officer to oversee compliance with this Privacy Policy. We are committed to this Privacy Policy. If you have any questions, concerns or complaints about this Privacy Policy or how we are collecting, using or disclosing your personal information, please let us know by contacting our Privacy Officer. The contact information for our Privacy Officer is as follows:

Privacy Compliance Officer GMAC Residential Funding of Canada, Limited 3250 Bloor Street West East Tower, Suite 1400 Toronto, ON M8X 2X9

Fax: 1-866-772-6175

In most cases, questions, concerns and complaints may be resolved by talking to us. If you fail to resolve your concern by contacting our Privacy Officer you may also contact the Office of the Privacy Commissioner of Canada, 112 Kent Street, Place de Ville, Tower B, 3rd Floor, Ottawa, Ontario K1A 1H3.

Revisions to this Privacy Policy

GMAC RFOC may, from time to time, make changes to this Privacy Policy to reflect changes in its legal or regulatory obligations or in the manner in which we deal with your personal information. We will post any revised version of this Privacy Policy on our website www.gmacresidential.ca and we encourage you to refer back to it on a regular basis. This Privacy Policy was last updated on August 15, 2008.

Interpretation of this Privacy Policy

Any interpretation associated with this Privacy Policy will be made by our Privacy Officer. This Privacy Policy includes examples but is not intended to be restricted in its application to such examples, therefore where the word 'including' is used, it shall mean 'including without limitation'.

This Privacy Policy does not create or confer upon any individual any rights, or impose upon GMAC RFOC any obligations outside of, or in addition to, any obligations imposed by Canada's federal and provincial privacy laws, as applicable. Should there be, in a specific case, any inconsistency between this Privacy Policy and Canada's federal and provincial privacy laws, as applicable, this Privacy Policy shall be interpreted, in respect of that case, to give effect to, and comply with, such privacy laws.