Privacy Policy
Last Updated: October 5, 2026
VIVID INVESTS LLC, doing business as MFA Underwriting ("MFA," "we," "us," or "our"), respects your privacy and is committed to protecting the information you provide when using our website, Excel-based underwriting products, Excel Add-In, MFA AI Companion, and related products and services.
This Privacy Policy explains what information we collect, how we use it, when information may be processed by third-party service providers, how underwriting data is handled, and the choices available to you.
1. Scope of This Privacy Policy
This Privacy Policy applies to MFA products and services, including:
The MFA Underwriting website
MFA-ADVANCED
MFA-LITE and other MFA Excel-based underwriting products
The MFA Excel Add-In
The MFA AI Companion
MFA training, support, and educational services
Customer accounts, purchases, and subscriptions
Email, marketing, and customer communications
Other MFA products and services that link to this Privacy Policy
Different MFA products interact with your information in different ways. In particular, there is an important distinction between using an MFA underwriting workbook normally within Microsoft Excel and choosing to use an AI Companion feature.
2. Information We Collect
Depending on how you interact with MFA, we may collect the following types of information.
Account and Contact Information
This may include:
Name
Email address
Phone number
Company or organization
Account information
Product ownership and licensing information
Purchase and subscription information
Communications with MFA
Customer support requests
Payment and Transaction Information
Payments and subscriptions may be processed through third-party payment providers such as Stripe.
MFA may receive information related to a transaction, including the product purchased, transaction status, subscription status, payment date, and related account information.
Payment card information may be collected and processed directly by our payment provider rather than stored by MFA.
Website Information
When you visit the MFA website, information may be collected automatically, including:
IP address
Browser and device information
Operating system
Pages visited
Referring pages or websites
Approximate location derived from an IP address
Website activity
Cookies and similar technologies
We may use this information to operate the website, understand how it is used, improve our services, maintain security, and support marketing and analytics activities.
Product and Usage Information
When you use certain MFA services, including the MFA Excel Add-In and MFA AI Companion, we may collect information relating to:
Account authentication
Product licensing and access
Feature usage
AI Companion usage
Skill executions
Technical errors
Diagnostic information
Service performance
Other technical information necessary to operate and support the service
3. MFA Excel Underwriting Products
MFA provides Excel-based underwriting products, including MFA-ADVANCED and MFA-LITE.
These underwriting workbooks are designed to operate within Microsoft Excel on the user's computer.
Underwriting Data Entered Into MFA Workbooks
MFA does not automatically receive or store the financial information, property information, underwriting assumptions, rent roll information, operating statements, investment projections, or other deal information that you enter into an MFA Excel workbook simply because you use the workbook.
Your normal use of an MFA underwriting workbook does not mean that MFA has access to the contents of your underwriting.
Information may be transmitted outside of your workbook only when you intentionally use a feature that requires external processing, such as certain features provided through the MFA Excel Add-In or MFA AI Companion.
4. MFA Excel Add-In
The MFA Excel Add-In provides functionality that works with MFA underwriting products.
The Add-In may communicate with MFA systems as necessary to provide features such as:
Account authentication
Product validation
Licensing
AI Companion access
Feature availability
Usage tracking
Technical support
Error diagnosis
Product operation and maintenance
The MFA Add-In does not maintain a repository of users' underwriting files.
MFA does not store users' Excel underwriting files on MFA servers simply because the Add-In is installed or used.
5. MFA AI Companion
The MFA AI Companion provides artificial intelligence-powered functionality designed to assist users with multifamily real estate underwriting.
AI Companion features may include:
Importing and analyzing rent rolls
Importing and analyzing T12 operating statements
Reviewing offering memorandums ("OMs")
Extracting information from underwriting-related documents
Mapping information into an MFA underwriting model
Analyzing property and financial information
Reviewing underwriting assumptions and outputs
Identifying potential issues, inconsistencies, or areas requiring further review
Providing summaries, observations, and underwriting feedback
When you intentionally use an AI Companion feature, information necessary to perform the requested task may be transmitted to an artificial intelligence service provider for processing.
6. Underwriting Documents Submitted Through the AI Companion
Depending on the AI Companion feature you use, the service may process information contained in:
Rent rolls
T12 operating statements
Offering memorandums
MFA underwriting models
Property financial information
Property operating information
Rent and unit information
Underwriting assumptions
Investment projections
Other information you intentionally submit or make available to the AI Companion
MFA Does Not Store Your Uploaded Deal Files
MFA does not store uploaded rent rolls, T12s, offering memorandums, MFA underwriting files, or other customer deal documents on MFA servers or in a long-term MFA database.
The MFA Add-In does not maintain copies of these files after they are submitted for processing.
MFA does not maintain a permanent repository of customer underwriting documents submitted through the AI Companion.
Information contained within a document may be transmitted to and temporarily processed by third-party service providers when necessary to perform the AI Companion function requested by the user.
7. Anthropic and Claude
The MFA AI Companion currently uses Claude, an artificial intelligence service provided by Anthropic, PBC ("Anthropic").
When you use an AI Companion feature, information necessary to complete the requested analysis may be transmitted through Anthropic's commercial API.
This may include information extracted from rent rolls, T12s, offering memorandums, MFA underwriting models, or other information submitted for analysis.
Anthropic Data Retention
MFA does not control Anthropic's independent systems or data-retention practices.
Under Anthropic's current standard commercial API practices, Anthropic states that API inputs and outputs are automatically deleted from its backend systems within 30 days of receipt or generation, except where:
Anthropic and its customer have agreed to different retention terms;
Anthropic determines longer retention is necessary to enforce its usage policies; or
Retention is required by law.
Anthropic's data-retention practices may change over time and are governed by Anthropic's applicable agreements, policies, and privacy practices.
AI Model Training
Anthropic currently states that, by default, inputs and outputs submitted through its commercial products, including the Anthropic API, are not used to train Anthropic's generative AI models.
Certain exceptions may apply if information is voluntarily submitted to Anthropic as feedback, as part of a bug report, through an explicit opt-in program, or under other circumstances described in Anthropic's policies.
Users should review Anthropic's current privacy and commercial data policies for additional information regarding its processing practices.
8. MFA AI Skills and Prompts
MFA develops and maintains proprietary prompts, instructions, workflows, and AI skills used to operate the MFA AI Companion.
These MFA-created prompts, skills, and instructions may be retained and reused by MFA as part of the operation and development of the service.
MFA's proprietary prompts and skills are separate from customer-uploaded rent rolls, T12s, offering memorandums, MFA underwriting files, and other customer deal documents.
The retention of MFA's own prompts, instructions, and skills does not mean that customer-uploaded deal files are retained by MFA.
9. How We Use Information
We may use information we collect to:
Provide and operate MFA products and services
Create and manage customer accounts
Authenticate users
Validate product licenses
Process purchases and subscriptions
Provide MFA AI Companion functionality
Provide training and educational services
Respond to customer questions
Provide technical and customer support
Diagnose technical problems
Monitor product performance and reliability
Maintain the security of MFA services
Measure product and feature usage
Improve MFA products and services
Develop new features
Communicate important product or account information
Send marketing communications where permitted
Administer promotions or product launches
Detect fraud, abuse, unauthorized access, or violations of our agreements
Maintain appropriate financial and business records
Comply with legal, regulatory, tax, and accounting obligations
MFA does not claim ownership of customer underwriting data or customer deal information.
10. Third-Party Service Providers
MFA uses third-party companies to help operate our business and provide our products and services.
These providers may process information on our behalf when necessary to perform their services.
Third-party providers may include the following.
Anthropic
Anthropic provides Claude and related artificial intelligence processing used by the MFA AI Companion.
Information submitted through an AI Companion feature may be transmitted to Anthropic as necessary to perform the analysis requested by the user.
Stripe
Stripe may be used to process:
Payments
Billing
Subscriptions
Refunds
Payment authentication
Related financial transactions
Stripe may collect and process payment information according to its own agreements and privacy practices.
HighLevel / GoHighLevel
MFA may use HighLevel for functions including:
Customer relationship management
Customer contact information
Website functionality
Forms
Email communications
Marketing communications
Marketing automation
Customer support
Customer account and purchase information
HighLevel may process personal information on MFA's behalf as part of these services.
Other Service Providers
MFA may also use third-party providers for:
Website hosting
Email delivery
Analytics
Authentication
Software infrastructure
Security
Technical services
File delivery
Customer support
Business administration
We provide service providers only with information reasonably necessary for them to perform the services for which they are engaged.
Their processing of information may also be governed by their own privacy policies, contractual obligations, and applicable law.
11. Data Retention
Different types of information are retained for different periods depending on the reason the information is collected and the requirements of the service.
MFA Underwriting Files and Deal Documents
MFA does not retain uploaded rent rolls, T12s, offering memorandums, MFA underwriting workbooks, or other deal documents submitted through the MFA AI Companion for long-term storage.
MFA does not store these files in an MFA database or maintain a permanent repository of customer underwriting files.
Information transmitted to Anthropic for AI processing is subject to Anthropic's applicable commercial API retention practices as described above.
Account and Customer Records
MFA may retain account information for as long as reasonably necessary to provide products and services and maintain customer relationships.
This may include:
Name
Email address
Product licenses
Purchase history
Subscription information
Account status
Customer communications
Financial and Transaction Records
MFA may retain transaction, accounting, tax, and financial records for the periods reasonably necessary to meet business, accounting, tax, regulatory, and legal obligations.
Customer Support Records
Customer service and support communications may be retained as reasonably necessary to:
Resolve support issues
Maintain records of customer requests
Improve customer service
Diagnose recurring technical issues
Protect MFA and its customers
Technical and Usage Information
Certain usage, diagnostic, security, licensing, and technical information may be retained for as long as reasonably necessary to:
Operate MFA services
Maintain product security
Diagnose errors
Prevent abuse
Monitor service performance
Improve MFA products
12. Use of Information to Improve MFA Products
MFA may use product usage information, technical information, feedback, support requests, and aggregated or de-identified information to understand how MFA products are used and improve our products and services.
MFA does not use customer-uploaded underwriting documents to train a publicly available or general-purpose artificial intelligence model.
MFA may improve its proprietary prompts, skills, workflows, product logic, and software based on general product usage, customer feedback, identified errors, or observed product performance without retaining a customer's uploaded deal files for that purpose.
13. Sharing and Disclosure of Information
MFA may disclose information when reasonably necessary:
To service providers that help operate MFA
To process payments or subscriptions
To provide a feature requested by the user
At the user's request or with the user's authorization
To investigate fraud, abuse, unauthorized access, or security incidents
To enforce MFA agreements or protect MFA's legal rights
To protect the rights, property, or safety of MFA, our customers, or others
To comply with applicable law, court orders, subpoenas, regulatory requests, or other valid legal processes
In connection with a merger, acquisition, financing, reorganization, sale of assets, or transfer of all or part of MFA's business
MFA does not sell customer-uploaded underwriting documents or customer deal information.
14. Cookies and Similar Technologies
The MFA website may use cookies and similar technologies to:
Operate website functionality
Maintain user sessions
Remember user preferences
Understand website traffic
Measure marketing effectiveness
Improve website performance
Support security and fraud prevention
Some cookies may be placed or accessed by third-party service providers used by MFA.
Users may be able to restrict or disable cookies through their browser settings. Disabling certain cookies may affect website functionality.
15. Marketing Communications
MFA may use contact information to communicate with customers and prospective customers regarding:
MFA products
Product updates
New features
Training opportunities
Educational content
Promotions
Other information related to MFA
You may unsubscribe from promotional email communications using the unsubscribe link included in those messages.
Even if you opt out of marketing communications, MFA may continue to send transactional or service-related communications necessary to administer your account, subscription, purchase, license, or product.
16. Data Security
MFA uses reasonable administrative, technical, and organizational measures designed to protect information against:
Unauthorized access
Unauthorized disclosure
Loss
Misuse
Alteration
Destruction
We also select service providers that maintain security measures appropriate for the services they provide.
However, no internet-based service, software system, data transmission, or electronic storage method can be guaranteed to be completely secure.
Accordingly, MFA cannot guarantee the absolute security of information transmitted through or processed by our services.
17. Your Privacy Rights
Depending on where you live and applicable law, you may have certain rights regarding your personal information.
These rights may include the ability to:
Request information about personal information MFA maintains about you
Request access to certain personal information
Request correction of inaccurate personal information
Request deletion of certain personal information
Request information regarding how personal information is used or disclosed
Opt out of certain marketing communications
Exercise other privacy rights provided by applicable law
Certain requests may be subject to identity verification.
MFA may also retain information where permitted or required for:
Legal obligations
Tax and accounting requirements
Fraud prevention
Security
Dispute resolution
Contract enforcement
Other legitimate business purposes
MFA will not discriminate against an individual for exercising privacy rights provided under applicable law.
18. California Privacy Rights
California residents may have additional rights under applicable California privacy laws.
Depending on whether those laws apply to MFA and the particular information involved, those rights may include:
The right to know what categories of personal information are collected
The right to know the purposes for which personal information is used
The right to request access to personal information
The right to request correction of inaccurate personal information
The right to request deletion of certain personal information
The right to receive information regarding categories of third parties to whom information is disclosed
The right to opt out of certain sales or sharing of personal information where applicable
The right to limit certain uses of sensitive personal information where applicable
The right not to receive discriminatory treatment for exercising applicable privacy rights
MFA does not sell customer-uploaded underwriting documents or customer deal information.
California residents wishing to exercise an applicable privacy right may contact MFA using the contact information provided at the end of this Privacy Policy.
19. Third-Party Websites and Services
MFA products and websites may contain links to or integrate with websites, software, platforms, and services operated by third parties.
Those third parties may collect or process information according to their own privacy policies and terms.
MFA is not responsible for the privacy practices of third-party products or services that are not controlled by MFA.
20. Microsoft Excel and Microsoft Services
MFA underwriting products and the MFA Add-In operate within Microsoft Excel.
Your use of Microsoft Excel, Microsoft accounts, Microsoft 365, and other Microsoft services is separately governed by Microsoft's applicable terms and privacy practices.
MFA does not control the information Microsoft may independently collect or process through its products and services.
21. Children's Privacy
MFA products and services are intended primarily for adult business, investment, and professional users.
MFA does not knowingly collect personal information from children under 13.
If MFA becomes aware that personal information has been collected from a child under 13 without appropriate authorization, we will take reasonable steps to delete that information where required by law.
22. Business Transfers
If MFA or VIVID INVESTS LLC is involved in a merger, acquisition, financing, restructuring, sale of assets, or similar business transaction, information maintained as part of the business may be transferred as part of that transaction.
Any successor entity would be subject to applicable privacy laws regarding the information transferred.
23. Changes to This Privacy Policy
MFA may update this Privacy Policy periodically to reflect changes in:
Our products and services
Technology
Third-party service providers
Business practices
Legal or regulatory requirements
When this Privacy Policy is updated, the "Last Updated" date at the top of the policy will be revised.
Where required by law, MFA may provide additional notice of material changes.
24. Contact Us
If you have questions about this Privacy Policy, MFA's privacy practices, or would like to submit a privacy-related request, please contact MFA Underwriting using the contact or support information available on our website:
