As a mortgage broker, can I receive client CDR data to assist me with the service I provide?

Accessing Client CDR Data as a Mortgage Broker with Frollo

As a mortgage broker, you can receive client Consumer Data Right (CDR) data to assist you in providing your services. This allows you to streamline the loan application process and gain a comprehensive financial picture for your clients.

Here's how it works:

1. Client Nomination of Trusted Adviser: 

Your clients can nominate you as their Trusted Adviser in relation to CDR. This is in accordance with the CDR framework found at https://www.cdr.gov.au/

2. Disclosure of CDR Data: 

With your client's nomination, their CDR data may be disclosed to you. This data is provided to assist you in supporting your client (the applicant) with their loan application.

3. Voluntary Disclosure: 

It is crucial to understand that the disclosure of CDR data must not be a mandatory condition for you to provide your professional assistance. Clients must willingly choose to share their data with you.

4. Data Management and Security: 

Any CDR data disclosed to you by your client, as their nominated Trusted Adviser, must be managed with the same high standards of confidentiality and security as all other client information. This ensures the privacy and protection of your clients' financial details.

5. Broker Confirmation: 

Before using this service, you must confirm that you are a mortgage broker within the meaning of the National Consumer Credit Protection Act 2009. You must also confirm that you are fully aware of your professional obligations regarding the handling of applicant data.