What Do Mortgage Companies Need to Do About Computer Security?

All mortgage companies obtain very personal information from their customers that are stored on their computer systems. Computer security is an ongoing problem for your company because of the sensitive nature of the information that you store on your computers. You need to be proactive about your systems’ shortcomings and create a plan to upgrade your security. You must also have procedures in place to deal with a potential breach of security.

First, review the level of computer security that your system has. Most smaller mortgage companies do not have an IT department so they should hire an outside firm who has expertise in security breach problems. Have a survey of what information is stored, how it is stored, who has access to the information, and how your customers can use the internet to apply for a mortgage. An expert will point out where your systems are deficient, where you need to institute new policies for your employees, and where you may need to change or upgrade your software. Are your employees using smart phones or tablets that store private customer information? How easy is it for someone who finds a lost employee smart phone, tablet, or laptop to log in and access your customers’ information?

Do your personnel policies discuss how employees are to treat computer security issues? Are these policies rigorously enforced? Does your training emphasize the need to protect customer data?

Finally, you must review your computer security periodically. Hackers are always devising new ways to get into systems. You are obligated by law to safeguard your customers’ data. You could be sued by your customers whose financial information is now on the internet for the world to see. Therefore, your job of keeping their information safe never ends.