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With millions of sensitive pieces of information literally at their fingertips, mortgage bankers must make extra efforts to secure their data.

A recent security lapse based in Texas reinforced that idea, as millions of records were exposed online without protection.

The cache of more than 24 million financial and banking documents included sensitive borrower information such as Social Security numbers, tax data, and mortgage documents. The borrowers had taken out loans over the past decade, and tens of thousands of loans were exposed.

The leak was traced back to a Texas-based company that provides data analysis and portfolio valuations. The incident occurred because the company’s server was not protected with a password, according to National Mortgage News and research by TechCrunch.

It’s unclear to what extent the data was compromised and if any of the information was intercepted by cybercriminals.

Two lessons are clear as a result of this incident, however:

  • • Stronger passwords, authenticators, facial recognition, or other reliable forms of security must be used.
  • • Businesses of all sizes within the mortgage industry specifically must do more to secure their systems and improve their overall infrastructure.

Password Protection Tips

Following are some of the modern day password protection tips for computer systems, phones, tablets, and other digital devices.

  • • Passwords should be at least 12 characters long and consist of letters, numbers, and symbols.
  • • You shouldn’t use the same passwords for multiple resources.
  • • Instead of a simple password, use a passphrase that consists of several words and symbols, such as, “Th1s1sMyPa$$Phra$e.” Better yet, use a meaningless jumble of letters and symbols; just make sure you remember the sequence.
  • • If they’re available on your device, take advantage of facial recognition or touch ID.
  • • Use authenticator apps, which require two or more forms of identification. For example, the user would have to know the password and also have access to the phone associated with the account.
  • • Don’t share your passwords with anyone.

Secure Your Mortgage Technology Systems

Having strong passwords will help prevent cybersecurity disasters, but it’s only the first step.  Especially clever hackers can break through the barriers anyway. That’s why you need up-to-date, powerful security within your mortgage technology infrastructure. Skilled technology consultants can not only secure your systems with active threat detection, but also help modernize and optimize your loan origination systems, customize plugins, provide training, and more.

Contact us at Clarity Technologies for more information about Ellie Mae tools that can enhance your loan origination systems, customized plugins, or how to protect your technology from cybersecurity threats.


Managed Services

If you think you don’t need to improve your mortgage technology security because it was up to par yesterday, you might want to think about a few things.

  • • Approximately 1 million new malware threats are released per day.
  • • 60% of small businesses get hacked every year.
  • • A report by Symantec showed that online thieves are working faster than companies can protect themselves.

All of that means that if you were safe yesterday, you might not be today. Your mortgage technology should be protected every second of every day.

Why You Should Work on Improving Technological Security

Improve Your Mortgage Technology SecurityIt’s clear to see all the benefits of improving the security of your technological devices, and it’s about much more than just avoiding temporary inconveniences.

1. Cyberthreats can be financially devastating to your business. Depending on the severity of the damage and the size of your business, repairing the issues and then finding a way to prevent them from happening again could cost you well into the hundreds of millions of dollars. Lost productivity will also impact your profits.

2. You hold consumers’ private information at your fingertips. So it’s not only about you. You have a responsibility to protect your clients as well.

3. A hack could ruin your clients’ faith in you. Most people understand how clever internet thieves are, but others don’t. One way to combat this, of course, is to reassure customers that you work with one of the best technology security companies around and therefore are doing all you can to continue to protect them.

4. Your competitors could get ahead, if only for a few weeks. But a few weeks is too much, especially for small- to medium-sized businesses. You don’t want your customers to discover a different brand that can provide them with similar services, as they might never come back to you. Along those lines, a variety of online tools – both legal and illegal – can help your competitors see things you don’t want them to when it comes to your business.

5. A security breach is extremely stressful. If you’re the owner or manager of a business, you want the peace of mind of knowing your mortgage technology, your financial records, your personal information, your employees’ personal information, and your customers’ records are safe and secure. If they are not, by the way, you better believe that your employees and clients will feel the burden as well.

Contact Clarity Technologies to Improve Your Mortgage Technology Security

All that being said, the bottom line is that new threats are discovered every single day, so you have to stay on top of it to make sure your business is secure.

If you’re still relying on yesterday’s security systems, contact us through our website or by phone at (480) 418-3428, and we’ll make you see how much better your mortgage technology security can be.

Contact Us at Clarity Technologies


Managed Services

A natural or man-made disaster could be devastating to your business, especially if you’re caught blindsided. Most people take advantage of basic virus protection, but so much more can happen that would render your technological equipment useless, or worse – endanger you, your employees, and your customers. Creating and following thorough disaster recovery protocols can help you minimize downtime and data loss and ensure that your business will prevail despite the greatest challenges.

Now that’s what we call smart business.

Smooth and Efficient Disaster Recovery

Do you remember the great blackout of 2003 that left all of the northeastern and midwestern United States without power? This is one of the greatest examples we can think of to stress the importance of being prepared ahead of time, knowing what to do when disaster strikes, and having strong and reliable disaster recovery systems in place.

The companies affected by the blackout most likely had preventive measures, but they still had to work together to keep the integrity of their businesses intact during and after the disaster. Even the blackout didn’t harm the strongest businesses as much as it could have. News agencies still printed newspapers. Emergency services were still available. Hospitals still cared for their patients. Although the power was out, time did not stop.

The blackout may have been trying while the lights were out, but we all recovered quickly afterward.

Disaster recovery preparedness is vital to your business.Now, when we talk about disaster recovery, we’re mostly referring to technology. But it’s important to factor in the basics, like having working smoke alarms and fire extinguishers, an emergency evacuation plan, and security alarms to prevent the physical theft of your property. In addition to ensuring the safety of everyone involved, being prepared with such security would help to prevent snowball effects that would be detrimental to your business. Fire prevention is required by your local fire department as well, so it’s important to regularly review your systems to make sure they’re up-to-date.

Being Prepared

When it comes to technological security, creating a disaster recovery plan is a comprehensive procedure that requires the assistance of everyone involved.

The steps you should take before, during, and after a disaster depend on a variety of factors, which is why you should create a plan of action for each type of security threat, be it a physical threat or an internet security disaster. Consider every possible scenario that could endanger people or property. Then work together to come up with a safe, smooth, and efficient way to prevent each one from happening – and a plan of action if it does.

Practice these techniques if possible. As you’re doing so, pay attention to any details that you may have missed and then incorporate them into your overall plan.

Create a document that details all of your research, prevention methods, and recovery techniques. Make sure all members of your management team and your employees have access to the document and understand it, and set up employee training sessions to make sure that they do. The plan should be printed on paper as well as accessible on computer, and it should include the names and phone numbers of all IT staff members and the technology solutions company you work with, as well as emergency evacuation procedures. Make sure your plan includes disaster recovery processes for your technology, such as how to implement backup systems.

Bringing It Together

We can’t stress how important it is to have these plans in place in the event of a disaster. Being prepared provides added peace of mind, minimizes chaos during the disaster, ensures the reliability of backup systems, sets standards and processes, reduces the possibility of lawsuits and injuries, and improves overall organization.

When a disaster strikes, you can’t go through it haphazardly. You need to know what to do and how to do it. That’s why it’s important to have a level-headed, experienced outside consultant who knows what’s best for your business. The technology consultant can:

  • • Explore the overall quality of your systems.
  • • Tell you what you need.
  • • Secure your systems.
  • • Assist you in preparing and practicing your technological disaster recovery techniques.
  • • Help you recover after the disaster.

For more technical details about disaster recovery procedures for your specific business, call us at (480) 418-3428 or contact us through our Clarity Technologies website.

Contact Us at Clarity Technologies