AGREEMENT ON DATA PROCESSING

– The Data subject is considering a possibility to obtain a loan from the Information user;

– The Information user will be the administrator of the personal data;

Taking into consideration the provisions of Article 6 (1) (a) and (b) of EU Regulation 2016/679 on the protection of individuals with regard to the processing of personal data and the free movement of such data, the parties freely and conscientiously express their will, and enter into the Agreement on data processing hereinafter referred to as the “Agreement”, and the Data Subject agrees that the Information User shall be granted the following rights:

1. Receiving of Information:

1.1. The Information user is entitled to receive from JSC „Kredītinformācijas birojs” (reg. No. 40103673493, registered address: Grēdu iela 4a, Rīga, LV-1019, Tel. +371 66934700, info@kib.lv) the information accumulated about the Data subject (i.e., any information in possession of JSC „Kredītinformācijas birojs” characterizing the Data subject`s creditworthiness).

1.2. The Information user is entitled to receive from LLC “Creditreform Latvija” (reg.No. 40003255604, registered address: Skanstes iela 52, Rīga, LV-1013, tel. +371 67501030, debt@creditreform.lv) the information accumulated about the Data subject’s credit history (i.e., LLC “Creditreform Latvia” fixed number of negative cases, when the Data subject has not fulfilled his delayed obligations to the creditor within a reasonable time).

1.3. The Information user is entitled to receive from the State Revenue Service the information accumulated about the Data subject`s income for the reporting period, which does not exceed the last twenty four months before the date of requesting data. The data subject is informed that the information is received through JSC „Kredītinformācijas birojs”.

1.4. The Information user is entitled to receive from the State Social Insurance Agency Data subject’s personal data for the period of the last six months before the date, when such information is requested, including information about the social insurance payments and insured periods; information about the transferred pensions/benefits/remunerations; information about the amount of the allocated pensions/benefits/remunerations.

1.5. The Information user is entitled to receive from any bank or its branch, where the Data subject has opened his/her private bank account Data subject’s account statements for the period not exceeding the last twelve months before the date when such information is requested. The data subject is informed that the information is received through Instantor AB (the Kingdom of Sweden reg. no. 556818-2835, legal address: Vasagatan 16, 111 20, Stockholm, Kingdom of Sweden; privacy@instantor.com) and Kontomierz.pl Sp. z o.o (Poland reg.No. 0000338706, legal address: ul. Prosta 32 00-838 Warsaw, Poland; contact@kontomatik.com).

1.6. The Data subject is informed that:

1.3.1. JSC „Kredītinformācijas birojs” processes the data in according to the requirements of the Law On Credit Bureaus;

1.3.2. LLC “Creditreform Latvija”, State Revenue Service, State Social Insurance Agency, Instantor AB, Kontomierz.pl Sp. z o.o, banks process data in accordance to the applicable laws and regulations.

2. Transferring of Information

Information user shall transfer information about the status of the Data subject’s loan application (the application is received, reviewed, approved or rejected) to a person (including, but not limited to real estate broker) who has invited / advised the Data subject to submit a loan application to the Information user.

3. Information user undertakes to process Data subject’s data according to the requirements of EU Regulation 2016/679 on the protection of individuals with regard to the processing of personal data and the free movement of such data. Data subject’s rights as well as Information user’s data processing procedure is described in the Privacy Policy.

4. The Agreement shall enter into force at the time or as soon as the Data subject has chosen to accept the provisions of the Agreement and the Information user has notified the Data subject of the receipt of the acceptance.

5. The Agreement is open-ended. Information user shall process the data collected according to this agreement during the validity period of this agreement. Information user may process the data for a longer period if this is required by applicable laws or such data processing is necessary for the realization of the legitimate interests of Information user. This Agreement can be terminated by mutual agreement of the parties.

6. The Information user’s refusal to grant a loan to the Data subject, the failure to conclude a loan agreement or fulfilment of a loan agreement shall terminate the Information user’s right to future data requests about the Data subject, but with regard to the received data the Agreement shall remain valid.

If Information user refuses to grant a loan to Data subject or Data subject withdraws his/her loan application, the data received in accordance with the provisions of Section 1 of the Agreement shall be deleted, destroyed or anonymized within 1 year after the occurrence of the corresponding event, but in any case, not later than within 3 months from the 1st of January of the year following the year in which the above mentioned 5-year storage period has ended. Information user shall not inform Data subject about deleting, destroying or anonymizing his/her personal data or ask for Data subject’s permission to delete, destroy or anonymize the data.

7. This Agreement is binding on the contracting parties and their legal successors.

AGREEMENT ON THE PROVISION OF MORTGAGE BROKER SERVICES

Customer: a natural person who has accepted the provisions of the Agreement on the provision of mortgage broker services by using the online web application

Broker: Akciju sabiedrība “Direct Mortgage Capital”, registration No. 40103968207, legal address: Ganību dambis 3/1-8A, Rīga, LV-1045, address of the actual place of provision of the service: Pulkveža Brieža iela 15, 5th floor, Rīga, LV-1010, email address: info@dmcbonds.com

Whereas:
a) The Customer wishes to use the Broker’s services and receive a financing offer for a mortgage loan or other type of loan secured by real estate;
b) The Broker is registered in the Register of mortgage brokers and their representatives maintained by Consumers Rights Protection Centre (available online www.ptac.gov.lv) on February 27, 2019. with the registration No. KS-09;
c) The Broker cooperates several licensed bank and non-bank lenders (hereinafter the Lender or Lenders) as an independent broker.

The customer and the Broker (hereinafter the Parties) enter into the following agreement (hereinafter – the Agreement)

1. Subject of the Agreement:

1.1. Within the framework of the Agreement, the Broker provides the following services to the Customer (hereinafter - Services):
a) automated collecting of the Customer's data by means of the customer web application https://loans.dmcbonds.com/ developed and maintained by the Broker (hereinafter – Web App) and assessing the Customer's ability to repay the loan;
b) if required by the Lender, performing a manual analysis of the information collected, structuring the deal and preparing a loan file for the Lender;
c) informing the Customer about the received financing offers from Lenders or referring the Customer to the particular Lender (depending on the type of loan requested by the Customer).
1.2. When rendering the Services and other related obligations arising from the Agreement, the Broker shall act honestly, fairly, transparently and professionally, taking into account the rights and interests of the Customer.
1.3. The Customer shall pay a fee to the Broker for the provision of Services in accordance with the provisions of the Agreement.

2. Provision of Services

2.1. The provision of services shall be commenced after:
a) the Customer has finished the Web App and the Broker has received all the information necessary for assessing of the Customer's ability to repay the loan and making a loan decision;
b) the Customer has accepted the provisions of the Agreement on the Web App or has signed the Agreement,
2.2. If for any valid reason the Customer has not been able to finish the Web App, the information necessary for assessing of the Customer's ability to repay the loan and making a loan decision, as defined by the Broker, shall be submitted to the Broker in person or by other secure means of communication.
2.3. The Broker does not cooperate with all lenders operating in the market, therefore, cannot guarantee the Customer the lowest price or the most favorable conditions. However, the Broker undertakes to act in the best interests of the Customer in search of suitable financing arrangements for the Customer.
2.4. The Customer shall independently decide on acceptance or rejection of financing offers provided by the Broker and the Broker shall not be responsible for any possible consequences that may result from further cooperation between the Customer and the selected Lender.

3. Broker Fee

3.1. The Broker Fee is up to 2% of the loan amount granted to the Customer (hereinafter – Broker Fee). The Broker Fee is payable according to the Broker’s instructions reflected in the Broker’s invoice sent to the Customer by email, issued in paper form or made available to the Customer by other means of communication. In any case the Broker Fee is payable only after closing the Loan agreement with the respective Lender.

4. Personal Data Processing

4.1. The Broker is the controller of Customer’s personal data.
4.2. Information on the purposes of the Customer's personal data processing, the basis for processing, the categories of data to be processed, the data retention period, the categories of data recipients, and the Customer's as data subject's rights is outlined in the Broker's Privacy Policy, available on the Broker's website (www.dmcbonds.com), as well as at the Broker's office.
4.3. In order to fulfill obligations arising from this agreement, the Broker shall transfer the Customer's personal data necessary for granting the loan, assessing the Customer’s ability to repay the loan and taking the funding decision to Lenders. The Broker, at the request of the Customer, shall provide the Customer with information about the Lenders who received the Customer’s personal data and types of personal data transferred to each lender.
4.4. The Broker cooperates with bank and non-bank Lenders. Depending on the requested loan type as well as other circumstances such as Customer’s credit history and debt history Customer’s personal data can be transferred to banks:
AS “Citadele banka” (Privacy Policy: https://www.citadele.lv/lv/atbalsts/fizisko-personu-datu-apstrade/)
AS “PrivatBank” (Privacy Policy: https://www.privatbank.lv/noteikumi/personal-data-processing/)
Or to the licensed non-bank Lenders:
SIA “Grand Credit” (Data processing rules: https://grandcredit.lv/lv/fizisko-personu-datu-apstrades/)
AS “Hipocredit” (Privacy Policy: https://www.hipocredit.lv/media/privacy-policy.pdf ).
If within the Broker’s business activities the Broker enters into partnership with other Lenders (banks or non-bank Lenders) that are not mentioned above, the respective Lender shall process the Customer’s personal data according to its personal data processing rules which is available in the respective Lender’s web page.
4.5. The Broker within the scope of this agreements shall not transfer the Customer’s personal data to countries outside the European Union / European Economic Area.

5. Rights and Obligations of the Parties

5.1. Broker’s obligations:
5.1.1. When rendering the Services and other related obligations arising from the Agreement, to act honestly, fairly, transparently and professionally, taking into account the rights and interests of the Customer;
5.1.2. within a reasonable period of time, but not later than within 3 business days after receiving the Customer’s request to provide the Customer with comprehensive information on the course of provision of the Services and on the refusals of the Lenders to grant financing (if any);
5.2. Broker’s rights:
5.2.1. to request and receive from the Customer information (other than that is received via Web App) necessary for granting the loan, assessing of the Customer's ability to repay the loan;
5.2.2. to transfer the information and documents received from the Customer and information about the Customer, which the Broker will legally acquire from other sources by means of Web App, to Lenders in order to take a loan decision and prepare an offer to the Customer;
5.2.3. not to submit the Customer’s loan application to the Lenders, if the Customer, at the request of the Broker, does not provide or provides insufficient amount of information and documents necessary for assessing the Customer's ability to repay the loan and making a loan decision or if Customer provides the Broker with false information;
5.2.4. not to submit the Customer’s loan application to the Lenders who, on the basis of the information provided by the Customer, have rejected the Customer's loan applications within 90 days prior to the conclusion of the Agreement or if the Broker reasonably believes that the Customer’s loan application will be rejected by the Lenders for any reason;
5.2.5. to receive the Broker Fee if the Customer enters into a loan agreement with the Lender as a result of providing the Services.
5.3. Customer’s obligations:
5.3.1. To provide the Broker with complete and true information and at the request of the Broker to submit additional documents necessary for assessing the Customer's ability to repay the loan and making a loan decision;
5.3.2. To provide the Broker with complete and true information about whether the Customer has submitted loan applications to any banks or non-bank lenders within 90 days prior to the conclusion of the Agreement and whether the Customer’s loan applications have been declined (specifying the reasons);
5.3.3. to immediately inform the Broker of any changes to the information provided to the Broker under the Agreement.
5.3.4. to pay the Service Fee according to the Broker’s instructions;
5.3.5. In case if after signing the Agreement the Customer decides to apply for a loan collectively with a co-borrower (or guarantor), the Customer shall provide that the co-borrower (or guarantor) signs the agreement on transferring of personal data.
5.4. Customer’s rights:
5.4.1. to request and receive information on the course of provision of the Services and the refusals of the Lenders to grant financing (if any);
5.4.2. to waive the Lenders’ financing offers if, for any reason, they do not satisfy the Customer.

6. Duration of the Agreement and the Right to Withdraw

6.1. The Agreement shall enter into force after the Customer chooses to accept the Agreement terms (checks the appropriate box) in the Web App, and shall remain in force until the Parties have fully performed their obligations.
6.2. The Customer may use the right to withdraw from the Agreement within 14 (fourteen) days of the entry into force thereof by sending an explicit notice of exercise of the right of withdrawal to the Broker’s email address (necessarily providing the Customer’s name, surname and identity number).
6.3. After expiry of the right of withdrawal the Customer may terminate the Agreement prematurely by sending an explicit Agreement termination notice to the Broker’s email address (necessarily providing the Customer’s name, surname and identity number).
6.4. The Customer acknowledges and agrees that he will lose the right of withdrawal and the right to unilaterally terminate the Agreement upon termination of the right of withdrawal if the Broker has provided the Services in accordance with the provisions of the Agreement and the Customer has entered into a loan agreement with the Lender.
6.5. The Broker may stop providing Services if the Customer fails to fulfill the Customer's obligations under the Agreement.
6.6. The Parties agree that the Agreement shall be considered as mutually terminated prematurely if the Customer rejects all financing offers offered to him or receives refusals from all Lenders cooperating with the Broker as well as in cases stated in Clause 5.2.3. and 5.2.4. of the Agreement.
6.7. The Broker shall not apply any Penalties for early termination of the Agreement or using the right to withdraw.

7. Customer's Complaints and Dispute Resolution

7.1. Any Customer's complaints shall be submitted to the Broker and reviewed in accordance with the Broker’s Consumer Complaints Procedure (available at www.dmcbonds.com).
7.2. All disputes between the Parties in relation to the Agreement shall be settled by mutual negotiation. If the dispute cannot be resolved by negotiation, it shall be referred to the judicial authorities of the Republic of Latvia. The Customer has the opportunity to use out-of-court dispute resolution and legal protection procedures (information available at www.ptac.gov.lv).

8. Other terms

8.1. Any amendments and additions to the Agreement must be in writing and signed by the Parties.
8.2. Communication between the Parties under this Agreement shall be made by sending messages to the e-mail addresses specified in the Agreement or by post. Any notices sent electronically will be deemed received on the next business day after they are sent. Any notices sent by post will be deemed to have been received on the third business day following their dispatch.
8.3. After signing the Agreement, all previous discussions and oral agreements between the parties in relation to the subject matter of the Agreement shall be null and void.

This document is a translation from Latvian. The original language of the Agreement is Latvian, and in case of any disagreement, the Latvian language version shall prevail. Latvian version of the Agreement is available in Latvian version of Web application.

The information that according to the Cabinet’s Regulations Regarding Consumer Credit No.691 as of October 25, 2016 has to be provided to the Customer free of charge before commencing brokerage services by the Broker, who is offering the Customer a loan secured by mortgage or a loan with the purpose to acquire or retain a right to immovable property

1. Information about the Broker
Name: Akciju sabiedrība “Direct Mortgage Capital”
Registration No: 40103968207
Legal address: Ganību dambis 3/1-8A, Rīga, LV-1045
actual place of provision of the service: Pulkveža Brieža iela 15, 5.stāvs, Rīga, LV-1010
web: www.dmcbonds.com
email: info@dmcbonds.com

2. The Register
The Broker is registered in the Register of Mortgage Intermediaries and Representatives Hereof on February 27, 2019 with the registration number KS – 09. The Register of Mortgage Intermediaries and Representatives Hereof is maintained by the Consumers Rights Protection Centre and is available on the Consumers Rights Protection Centre’s web page www.ptac.gov.lv (section Data bases).

3. Type of cooperation
At the moment of entering into the Agreement the Broker acts as an independent broker.

4. Counseling services
The broker does not offer the Customer a counseling service according to Chapter VII of the Cabinet’s Regulations Regarding Consumer Credit No.691.

5. The Fee for provision the Services
5.1. The Customer pays the Broker a Fee of op to 2% of the amount of the mortgage loan granted to the Customer for the services he provides.
5.2 At the moment of entering into the Agreement the Broker has no agreements with any Lender that provides for a fee or any other payments for the provision of Broker’s services related to loan agreement. If in the course of providing the Services the Broker will enter into such agreements, the Customer shall be accordingly informed and the actual amount of the fee shall be specified the European Standardized Information Sheet provided to the Customer according to the Cabinet’s Regulations Regarding Consumer Credit No.691.

6. Out-of-court dispute resolution procedure
Customer has the opportunity to use out-of-court dispute resolution and legal protection procedures. All disputes are being reviewed by the Consumer Dispute Resolution Commission. Dispute Resolution at the Consumer Dispute Resolution Commission is free of charge for the parties to the dispute. More information on dispute resolution is available on the Consumer Rights Protection Centre website at www.ptac.gov.lv (section Data bases).