Regulatory Trend. Fining Mortgage Companies for Data Breaches.

4 ways mortgage companies can up their game and push back regulatory fines:

• Proper security frameworks and policies that secure data both inside and outside;
• Assess vendors and third parties for data breach risk;
• Work with experts to assess and manage the “risk across the supply chain and build better defense-in-depth to prevent a breach;” and
• “Use tools and analytics that are specially designed to monitor and assess the security posture of vendors in real-time, as well as improve contractual provisions that result in greater security performance.”

Housing Wire | Mortgage data isn’t secure: Here’s why and how to fix it