Facebook Answers Home Privacy Questions
Today, the social network tossed up a blog post detailing a few answers. Clearly, the company states that: "Home doesn't change anything related to your privacy settings on Facebook, and your privacy controls work the same with Home as they do everywhere else on Facebook." In fact, you won't be forced to use Home unless you choose to do so. Those who try Home out can easily disable it should they find it not to their liking, and much like other parts of Facebook, Home collects information when you interact with the service, such as liking or commenting on a post or sending a message. Home also may collect other information about how you use it. For example, Facebook maintains a list of the apps that you have in the Home app launcher. Facebook holds on to that information for 90 days while using it to provide the service and improve how it works.
For devices that come with Home preinstalled, Home can display system notifications, meaning that it will show notifications from apps on your phone. Since these notifications appear in Home, Facebook collects information about the notification (such as which app is generating them) but not the content of the notification itself.
All in all, it doesn't seem as if Home is any more invasive than the existing app, but you can tap the Via link to read the full post.