Electronic Communications Disclosure and Consent Agreement
Effective February 25, 2022
Please read this Electronic Communications Disclosure and Consent Agreement ("Disclosure") thoroughly. This Disclosure contains important information about your legal rightsegal rights and covers all of your accounts, products, and services with Valon Mortgage, Inc. (“Valon”) and its affiliates (collectively, "we", "us", and "our") that are accessible, either currently or in the future, through our websites, or other electronic means (“Online Services”). The words "I", "you" and "your" mean each account holder, product owner, and/or service user identified on an account, product, or service.
Legal Rights
Applicable laws and regulations require us to provide you with specific information in writing, meaning you have a right to receive that information on paper. We can provide this information to you electronically if we represent this Disclosure and obtain your consent to receive the information electronically. Your consent will also apply to any other person named on your account, product, or service – including co-borrowers – subject to applicable law. By providing your consent to receive communications (defined below) electronically from us, you confirm that you have the hardware, software, or other equipment needed to receive and access this information. Agreeing to this Disclosure is considered providing such consent. By registering or using an online account, you also provide such consent.
Note that all communications, whether in electronic or paper format, from us to you will be considered “in writing.”
Types of Electronic Communications You Will Receive
You agree and understand that we may provide to you in electronic format only, by posting the information on Valon’s website where you securely access your account(s), through email, or other electronic means: agreements, disclosures, statements, notices, and other information; communications regarding your accounts, our services and products, the use of our websites or our other electronic services, your relationship with us; and communications about other products, services, or programs that are or might in the future be made available to you (collectively, "Communications"). These Communications include, but are not limited to:
- This Disclosure and any updates;
- The terms and conditions or user agreements for access to our websites or other electronic services, all updates to these terms and conditions or agreements, and all disclosures, notices, and other communications regarding transactions you make through our websites or our other electronic services;
- Notice of the addition of new terms and conditions or the deletion or amendment of existing terms and conditions applicable to all accounts, products, or services we provide to you;
- Our Privacy Policy and other privacy statements or notices (by posting such notices on our website or delivering through electronic means);
- Disclosures, agreements, notices, communications, and other information related to opening, registering, or initiating an account, product, or service. These include, but are not limited to, account agreements, fee schedules, and other disclosures or notices that may be required by the Real Estate Settlement Procedures Act, Truth in Savings Act, Electronic Fund Transfer Act, Truth in Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Gramm Leach Bliley Act, or other applicable federal or state laws and regulations;
- Periodic (weekly, monthly, annual, or other) statements, disclosures, and notices relating to the maintenance or operation of an account including, but not limited to, account information and activity, payments made or due, or other statements, disclosures, or notices that may be required by the Real Estate Settlement Procedures Act, Truth in Savings Act, Electronic Fund Transfer Act, Truth in Lending Act, Equal Credit Opportunity Act, Fair Credit Reporting Act, Gramm Leach Bliley Act, or other applicable federal or state laws and regulations;
- Communications about the collection of a debt;
- Tax statements or notices, such as annual IRS interest statements, that we are legally obligated to provide to you;
- Any notice or disclosure regarding fees relating to an account, product, or service, such as a late fee, a fee for a draft, check, or electronic debit returned for any reason, such as an nonsufficient funds fee or a fee resulting from a stop payment order; and
- Information or forms that we request from you and ask you to submit electronically.
Communications Provided in Paper
This Disclosure does not apply to any communications that we determine, in our sole discretion, we must deliver in paper form under applicable law; or, that you should receive in paper rather than electronic form. Such communications will be mailed to the primary address we have for you in our records or otherwise delivered as required by law or the governing agreement.
Electronic Signatures and Click-to-Sign
You agree that when providing a signature electronically, via DocuSign, click-to-sign, or any e-signature or similar means, you are providing the legal equivalent of your manual signature. You also agree that documents, agreements, or contracts signed electronically are effective, binding, and enforceable to the fullest extent permitted by applicable law.
How to Withdraw Your Consent
Subject to applicable law, you can withdraw your consent to this Disclosure by contacting us in writing at VALON MORTGAGE, INC 9450 SW Gemini Dr PMB 28754 Beaverton, OR 97008; calling us at 855-218-3690 during normal business hours; or emailing us at support@valon.com. Moreover, you can adjust your notification preferences on the Settings page of your online account. In our sole discretion, we may treat your provision of an invalid email address, or a subsequent malfunction of a previously valid email address, as withdrawal of your consent to receive electronic Communications. Withdrawing your consent to receive electronic Communications will not result in any type of processing or other fee; however, your access to and use of the Online Services may be terminated.
Any withdrawal of your consent is effective only after Valon has had reasonable time to process your withdrawal.
Hardware and Software Requirements
Most Communications provided electronically are either in HTML and/or PDF format. For Communications provided in PDF format, software compatible with Adobe Reader 6.0 or later versions might be required. A free copy of Adobe Reader can be obtained at the Adobe website, https://www.adobe.com.
Communications may also be provided by email. You are responsible for providing us with a valid email address for Communications to be delivered. We may also make the Communications available in your online account. In this situation, you agree that once we email the Communications to you or make them available in your online account, we have delivered the Communications to you in a form that you can retain.
You understand that you need access to an email address, the internet, and, on occasion, PDF software to review the Communications. To print Communications, you must have a printer connected to your device. To download Communications, you must have enough hard drive or other storage space to store the Communications.
Obtaining and Retaining Copies of Electronic Communications
You may make a copy of Communications by printing or saving a copy – please do this when you first review the Communications. We do not necessarily keep all Communications in a place that you can access.
Upon your request, we will provide a paper copy of any electronic Communications we have provided pursuant to this Disclosure within 12 months after the date the Communication was first made available to you electronically. You can make such a request by calling us at 855-218-3690 or emailing us at support@valon.com.
In your request, specify your loan number, the Communication for which you are requesting a paper copy, and the address to which it should be mailed. We may, when legally allowed, charge fees for paper copies of the Communications.
We recommend that you print or download a copy of this Disclosure, the applicable service agreement, and all other Communications to retain for your records. If you have not already placed a copy of our Privacy Policy in your records, you can obtain another copy from our website at https://valon.com.
Updating Your Contact Information
It is your responsibility to provide us with true, accurate, and complete information. If your email address or other contact information changes, you agree to notify us of such changes promptly by updating the contact information in your online account (in the borrower console), emailing us at support@valon.com, or calling us at 855-218-3690 and communicating the contact information changes.
If you do not update or change an incorrect or invalid email address or other contact information, you understand and agree that any Communications will nevertheless be deemed to have been provided to you if they were made available to you on our websites, emailed to the email address we have on file for you, or delivered to you by other electronic means.
Termination and Changes
We reserve the right, at any time and at our sole discretion, to discontinue your electronic Communications or terminate or change this Disclosure or any other terms and conditions on which we provide electronic Communications. We will give you notice of any such termination or change as the law requires.
Choice of Law
You agree that any action at law or in equity relating to this Disclosure and the Communications it covers shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any principles of conflicts of law. You also agree that any such action may be filed only in the state or federal courts located in New York.
