Privacy Policy | Opendoor Home Loans LLC

This Privacy Policy ("Policy") describes how Opendoor Home Loans LLC ("we," "us," or "our") collects, uses, shares, and protects your personal information. This Policy applies when you interact with us through our websites, mobile applications, or by applying for or using any of our products or services (collectively, the "Services"). In some circumstances, we may provide you with additional or supplemental privacy notices to the extent they apply to you because of the Services you obtain from us or different laws that may apply to you. Some states may provide additional privacy rights.

By using our Services, you agree to the collection, use, and sharing of your information as described in this Policy. If you do not agree, please do not use our Services.

1. Information We Collect

We collect information to provide and improve our Services, to communicate with you, and to comply with legal requirements. We collect information in the following ways:

A. Information You Provide Directly to Us

When you apply for a loan or use our Services, you may provide us with information including:

Personal Identifiers: Your full name, address, email address, telephone number, Social Security number, age, and date of birth.
Financial Information: Income, assets, homeownership status, bank account statements, investment account details, debts, credit history, net worth, insurance information, and payment history.
Employment Information: Your employer's name, your position, and your employment history.
Property Information: The address of the property you are buying or refinancing, its estimated value, and details about the property.
Demographic Information: Marital status, race, ethnicity, gender, and other information that may be required for government monitoring purposes.
Related loan products or services you have used in the past.
Any other information you provide or give us permission to access.

B. Information We Collect from Third Parties

We may collect information about you from third-party sources to supplement the information you provide, including:

Credit Bureaus: We obtain credit reports and credit scores from credit reporting agencies (e.g., Experian, Equifax, TransUnion).
Opendoor Affiliates: We may receive information from our parent company, Opendoor Technologies Inc., or its other affiliates (e.g., Opendoor Brokerage LLC) to streamline your home buying, selling, and financing experience. For example, if you are selling your home to Opendoor or buying a home from Opendoor, we may receive information about that transaction to pre-populate your mortgage application.
Service Providers: We may receive information from your employer (to verify employment), financial institutions (to verify assets), identity or other verification providers, appraisers, title companies, advertising networks, mailing list providers, service providers, data brokers, and other parties involved in your loan transaction.
Public Records: We may collect information from publicly available sources, such as government records.
Our Services also may allow or require you to integrate or connect your account with third-party services through service providers (such as Plaid), which allows you to more easily complete your transaction with us by importing certain information, such as bank account information, directly to us rather than you having to upload it manually.

C. Information We Collect Automatically

When you visit our websites or use our digital Services, we automatically collect:

Device and Usage Information: We collect information about how you access our Services, including your IP address, browser type, operating system, device identifiers, pages you visit, the links you click, and the time and duration of your visit.
Cookies and Tracking Technologies: We use cookies, web beacons, and similar technologies to collect information about your browsing activities, personalize your experience, and analyze the performance of our Services.
Transactional Information: When you make a purchase or complete a transaction, we collect information about the transaction, such as product or service details, financial details and the date and location of the transaction.

D. Information We Derive

We may derive information or draw inferences about you based on the information we collect. For example, we may make inferences about your location based on your IP address or city or postal code or infer that you are looking to purchase certain products based on information you provide to us and your browsing behavior and past purchases. We may incorporate products and services that use artificial intelligence, including large language models and machine learning, to derive this information and draw these inferences.

2. How We Use Your Information

We use the information we collect for various purposes, including:

To Provide and Manage Our Services: To process your loan application, underwrite and approve your loan, fund your mortgage, and service your loan.
To Communicate With You: To send you updates on your application status, respond to your inquiries, provide customer support, and send you important notices. In some of our communications, including our online chat, outbound calls we make to you, and inbound calls when you reach out to us, we might use artificial intelligence to provide information and respond to your questions. Sometimes that means that you are speaking with AI-generated voice while on the phone, or with an AI assistant when you are chatting online.
For Business Operations: To improve our products, perform data analysis, conduct research, prevent fraud, manage our risks, and maintain the security of our systems.
For Legal and Regulatory Compliance: To comply with applicable laws, regulations, and legal processes, such as the Gramm-Leach-Bliley Act (GLBA), the Truth in Lending Act (TILA), and the Real Estate Settlement Procedures Act (RESPA).
For Marketing and Advertising: To inform you about products, services, and offers from us, the Opendoor family of companies, or advertising partners that may be of interest to you, in accordance with applicable law.
Detect, investigate, and help prevent security incidents and other malicious, deceptive, fraudulent, or illegal activity, and help protect the rights and property of Opendoor Home Loans LLC and others.
Any other purpose at your direction.

3. How We Share Your Information

We do not sell your personal information. We may share your information with the following parties for the purposes described above:

Opendoor Affiliates: We may share information within the Opendoor family of companies including to provide you with an integrated and seamless real estate and financing experience. This sharing helps streamline processes and allows us to offer you related services.
Third-Party Service Providers: We share information with vendors and partners who perform services on our behalf, such as credit reporting agencies, appraisal management companies, title and escrow companies, document management providers, mortgage loan servicers, and technology service providers. These providers are contractually obligated to protect your information and use it only for the services we have hired them to perform.
Financial Partners: We may share information with investors, warehouse lenders, or other financial institutions that may purchase your loan or an interest in your loan.
As Required by Law or to Protect Our Rights: We may disclose your information to comply with a legal obligation, court order, or government request. We may also share information to protect the rights, property, or safety of Opendoor Home Loans LLC, our affiliates, our customers, or others, including to prevent fraud.
In Connection with a Business Transaction: If Opendoor Home Loans LLC undergoes a merger, acquisition, or sale of all or a portion of its assets, your information may be transferred as part of that transaction.
We share personal information with our partners or other third parties for their own services and marketing purposes, analytics, and in some cases to jointly market and provide products and services with third parties.
When you request information about services offered by other companies, we may disclose information about you to those companies so that we or they can notify you of, and determine if you qualify for, products or services.
We may disclose personal information if we believe that disclosure is in accordance with, or required by, any applicable law or legal process, including lawful requests by public authorities to meet national security or law enforcement requirements.
We share personal information with your consent or at your direction, including but not limited to through third-party integrations you choose to enable. This includes sharing personal information with third-party professionals that you identify, including your real estate agent, financial consultant, legal representation, or other professional.
We also share aggregated or de-identified information that cannot reasonably be used to identify you.

4. Your Privacy Rights and Choices

You have certain rights and choices regarding your personal information.

Accessing and Correcting Your Information: You may review and request changes to the information in your loan file by contacting us.
Marketing Communications: You can opt out of receiving marketing emails from us by clicking the "unsubscribe" link in the email. Please note that you may still receive transactional communications related to your account or loan application.
Cookie Preferences: You can manage your cookie preferences through your browser settings.

State-Specific Privacy Rights

Residents of certain states, such as California, may have additional rights.

California Residents: Under the California Consumer Privacy Act (CCPA), you may have the right to:

The right to request that we disclose what personal information we collect, use, and share about you, unless subject to a legal exception.
The right to opt out of sales to third parties of any personal information about you (as sale is defined by the CCPA).
The right to opt out of sharing to third parties of any personal information about you (as share is defined by the CCPA).
The right to request that we correct inaccurate personal information about you, unless subject to a legal exception.
The right to request that we delete personal information about you, unless subject to a legal exception.
The right to request that we limit the use and disclosure of your sensitive personal information, unless subject to a legal exception.
The right to not be discriminated against for exercising your CCPA rights.
The right to be notified that we collect personal information about you, and the purposes for which the information will be used.

To exercise your rights, please contact us using the information in the "Contact Us" section below. We will verify your request using the information associated with your account.

5. Security of Your Information

We implement reasonable administrative, technical, and physical safeguards designed to protect your personal information from unauthorized access, use, or disclosure. However, no method of transmission over the Internet or electronic storage is 100% secure.

6. Data Retention

We retain your personal information for as long as necessary to fulfill the purposes for which it was collected, to provide our Services, to comply with our legal obligations (such as record-keeping requirements for mortgage loans), to comply with our internal policies, resolve disputes, and enforce our agreements.

7. Children's Privacy

Our Services are not intended for or directed to individuals under the age of 18. We do not knowingly collect personal information from children. If we become aware that we have collected information from a child, we will take steps to delete it.

8. Processing of Information in the United States and Other Countries

Opendoor Home Loans LLC is headquartered in the United States, and the Opendoor family of companies offers goods and services to consumers in the United States. We have operations and vendors in the United States and other countries. Therefore, we and those that perform work for us may transfer your personal information to, or store or access it in, jurisdictions that may not provide levels of data protection that are equivalent to those of your home jurisdiction.

9. Changes to This Privacy Policy

We may update this Privacy Policy from time to time. If we make material changes, we will notify you by posting the updated policy on our website and updating the "Last Updated" date. We encourage you to review this Policy periodically.

10. Contact Us

If you have any questions or concerns about this Privacy Policy or our privacy practices, please contact us at:

Opendoor Home Loans LLC
Attn: Legal & Compliance Department
1295 W. Washington St, Ste 115, Tempe, AZ 85288
privacyhelp@opendoor.com
480-618-6760

11. GLBA Privacy Notice

For convenience, this notice can be viewed at our GLBA Privacy Notice.