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Financial Advisor & Mortgage Broker
Security breaches are a pervasive problem in the mortgage industry, but mortgage originators may not realize how important it is for them to be conversant in the latest systems, threats and best practices in cybersecurity technology. If originators are untrained in security practices and in the dark about top-line threats, they put their careers as well as private borrower data at risk.
Financial-services companies are highly desirable targets for cybersecurity bad actors. Originators handle large amounts of borrower data, which is worth a lot of money to cyber criminals. Originators need to pay attention to more than the devices, networks and software via which they handle customer business. They should be careful and diligent in maintaining personal habits and business processes that deter information theft.
Discover how VOX Telecom supports Financial Advisors & Mortgage Brokers
Evaluate your security
With every processed loan, loan originators and borrowers are likely to communicate across various devices from multiple locations. Whether working for a major institution or as an independent broker, astute and aware mortgage professionals should understand the general strategy, technical characteristics and proven effectiveness of the security platforms that protect client information.
Originators should have basic knowledge of the most prevalent types of predators and tactics, types of encryption and firewalls. Environmental awareness also includes non-technical diligence. Do not leave computers or papers unattended in the office or when working remotely.
Conduct and Assessment
A formal data and risk analysis can help mortgage companies and their employees guard their clients’ data and protect themselves from damaging litigation as well. VOX Telecom's alalysis report will highlight any gaps and contain recommendations with next steps to rectify.
Train and retrain
Every originator needs to learn the essentials of cybersecurity risk and awareness, and stay up-to-date on new threats and prevention techniques. Originators should extend beyond a single orientation session when they are hired and can gauge their overall security competence with tangible metrics using VOX Telecom's Cyber Security training modules. It is easy to forget practices, policies and procedures and cyber threats are constantly evolving and expanding. Loan officers should receive regular training on cybersecurity best practices and on the latest hacker techniques.