An increase in cyber-attacks targeting mortgage lenders and updated regulatory requirements mean that if you’re navigating cybersecurity alone, you’re risking your borrowers’ data and your business. LendSafe helps lenders of all sizes protect their borrowers and stay in compliance.
Cyberattacks pose a huge threat to mortgage lenders. Whether you’re a one-man shop or a large bank, the amount of sensitive data and documents you access and store makes you a target. Careful adherence to state and federal data security regulations, paired with common sense cyber security policies and procedures mitigate the risk and liability you take as a lender. But with ever-changing regulations, and the complexity of modern day cyberthreats you need help understanding and staying on top of it all.
That’s where we come in. We are a team of mortgage, cybersecurity, and regulation experts who have built a platform to protect your business.
Through policy creation, network vulnerability scanning, security auditing and more, you will be armed to protect your organization from criminals online. We train your employees, verify their compliance with approved policies and procedures, and provide an interface for you to track their compliance and progress.
Whether you are looking to increase regulatory compliance or reduce risk of cyberattacks, we help you accomplish both! After we verify that your company and employees are compliant, we add you to our list of LendSafe certified lenders, and send savvy clients looking for loans your way!
These set boundaries and standard procedures for employees, and help everyone work within the lines that industry professionals recommend for optimal cyber risk mitigation. All Federal and State regulators expect licensed entities regardless of size, to have Policies, Standard Operating Procedures (SOPs),and Business Practice Guides (BPGs). In the event of examination, they will request these documents in their review. They are your first line of defense in achieving compliance. Policies are required to be reviewed, at a minimum, on an annual basis. However due to the constantly changing regulatory environment, they may need updating more often than that. We can help you maintain and update these documents.
Through a combination of company assessment and individual employee assessments, we evaluate the procedures in place and provide instant feedback on what changes need to be made in order to protect your clients’ data. We use the findings from these assessments to fine-tune your cyber-defenses, and walk you through the process of making these necessary changes.
This process continues over time as technology and industry changes change, and we will be with you to make sure you don’t get left behind.
A company is only as good as its employees when it comes to data security. We provide training modules on a variety of topics to help your loan originators and processors stay up-to-date on the best security practices. Whether you are a CISO at a large bank, or the owner of a small broker shop, it is your responsibility to keep your employees apprised of these practices, and we make it easy with our data security training modules that are automated and tracked for records.
Included in the LendSafe program is regular phishing simulations to test your employees’ awareness of one of the most common attack vectors. We also use a vulnerability scanner to detect vulnerabilities in your network and help remediate them. These, along with the other program components help your business comply with the updated GLBA Safeguards Rule.
The FTC recently updated the GLBA Safeguards Rule, requiring mortgage lenders of all sizes to take specific actions to protect their borrowers. We help you implement and maintain a data security program that provides the tools and reporting you need to comply with this and other data security-related regulation.
Avoid compliance violations. Get your team LendSafe certified today. Your clients and prospects will appreciate your commitment to protecting their information.
Thank you for contacting LendSafe. You are one step closer to getting certified for being in compliance. Please leave your question below and someone will get back with you as soon as possible.
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