Like many other providers of financial services, Acadia Advisors, LLC is required by the Gramm-Leach-Bliley Financial Services Modernization Act (GLB) to inform consumers of our policies regarding the collection of non-public personal information (NPI) obtained during the appraisal process.  The Act also requires the implementation of a confidentiality and security policy for the handling of confidential information.  The Federal Trade Commission (FTC) published its "Final Rule" on March 1, 2000.  In this rule, real estate appraisers were included under the definition of "financial institutions" as a result of their participation in the lending process.  In addition, more stringent rules and standards are demanded through state licensing regulations and the Uniform Standards of Professional Appraisal Practice (USPSP) as promulgated by the Appraisal Foundation.

This document provides you with our written privacy policy as required under the Privacy Rule of GLB as well as our confidentiality and security policy as required by the Safeguards Rule of GLB.  These policies and procedures address the type of nonpublic personal information we collect, what we do with it and how we protect it.  They have been in effect, although not in written form, since the inception of Acadia Advisors, LLC because we consider privacy to be fundamental to our relationship with our clients.

TYPES OF NONPUBLIC PERSONAL INFORMATION COLLECTED

Personal information about you and your property is collected during the course of the appraisal process.  For example:  information we receive from you on applications, letters of engagement, forms found on our web site, correspondence, or conversations, including but not limited to, your name, address, phone number, Social Security number, date of birth, bank records, salary information, the income and expenses associated with the appraised property, the sale price of the property and the details of any financing on the subject property.  This information is generally collected with your knowledge and approval.  We also collect Information about your transactions with us, our affiliates or others including, but not limited to, payment histories, parties to transactions and other financial information.

INFORMATION DISCLOSURE POLICY

Except as described below, we do not share nonpublic personal information.  We will not rent, sell, trade or otherwise release or disclose any personal information about you and will not disclose consumer information to any third party for use in telemarketing, direct mail or other marketing purposes.

We limit the sharing of nonpublic personal information about you with financial and nonfinancial companies, including companies affiliated with us, and other third parties to the following:

• We may share information when it is necessary or required to process a loan or other financial transaction;
• Nonpublic information may be shared with the client and any identified intended users of the specific appraisal, review, or appraisal consulting assignment. A fiduciary agreement is automatically in effect between our agency and the identified customer/client and intended users per the Ethics Rule within USPAP.  Additionally, in all such situations, the appraiser must comply with all pertinent laws, rules and regulations regarding the safeguarding of the analyses, conclusions, survey results, adjustments and opinions relative to the appraisal process.
• We may share information when it is necessary, required or permitted by law, such as to protect you against fraud or in response to a subpoena. Necessity may include unrelated third-party consultants who need to know such information to assist us in providing professional appraisal services to you and only on a strict, confidential basis.

RECORDKEEPING REQUIREMENTS

Our agency retains records relating to the informational services that we provide so that we are better able to assist with your professional needs and to comply with any requirements of the Ethics Rule as contained within USPAP.  In order to secure your nonpublic personal information, we maintain physical, electronic and procedural safeguards that comply with federal standards and our professional standards of practice.

RIGHTS TO LIMIT SHARING OF NONPUBLIC PERSONAL INFORMATION

Our clients/customers have the right to limit the use or reuse of nonpublic personal information gathered during the course of the appraisal process.  The customer must notify Acadia advisors, LLC within a reasonable time that public disclosure, use, or reuse of such information is prohibited except as required by applicable law, regulations or the Uniform Standards of Professional Appraisal Practice.

If you prefer that we not disclose nonpublic personal information about you to third parties, you may opt our of those disclosures, that is, you may direct us not to make those disclosures (other than those permitted by law).  If you wish to opt-out, contact us at 1-866-906-5633 or click on OPT-OUT NOTICE to print out a form for mailing or faxing to 617.588.0262.

Please contact us if you have any questions concerning this policy.  Your privacy, our professional ethics, and the ability to provide you with a quality product or service are very important to us.