Your Mortgage Data & Mortgage Information

I read an article today about mortgage data breaches and how to stop them. Here are some questions to ask yourself:

1. Does my mortgage lender employ secure encryption for my mortgage data?

2. Does my mortgage lender have a secure physcial location?

3. Does my mortgage lender use a bonded shredding service for disposal of all paper documents?

4. Has my mortgage lender received passing excellent grades/reviews from the govermental agencies that monitor them?

5. Does my mortgage lender sell my information/date for commercial purposes?

6. Does my mortgage lender earn excellent reviews on Google, Yelp, etc?

7. Has my mortgage lender ever been suspended or sanctioned by a governing entity, if so why?

As a consumer it is important that your mortgage lender takes the best appropriate countermeasures to combat identity theft and keeping your information private.

To answer the questions above to be sure you are working with a mortgage lender that at a minimum does the following:

1. Uses miliatry-grade encryption for your electonic data.

2. Your mortgage lender is in a building that has security, auto-locks on the doors after closing, and their offices have electronic locks for controlled entry.

3. They should use a contracted secure shredding service.

4. Ask your mortgage lender to see the reports/grades they have received from the supervising agencies.

5. Your information should be private and a reputable mortgage lender will never sell it for profit.

6.  Check the Google and Yelp ratings, your mortgage lender should have outstanding reviews.

7.  Your lender should have a clean bill of health and be of any severe sanctions.

Getting a great rate is important., though working with a reputable mortgage lender that cares about your security is just as important.

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