Mortgage Software Solutions Blog

Benefits of Switching Your Mortgage Company's Systems to the Cloud

The benefits of switching your mortgage company's servers and desktops to the cloud go beyond just joining the latest technology trends. You've no doubt heard plenty about the cloud over the last few years, with both positive and negative reactions. However, almost all of the negative reactions come from simple misunderstandings about cloud system capabilities. These days, cloud technology can not only do everything your old in-house servers and desktop computers can do, but they can do it more affordably, more securely, and with far more adaptable features.

In the mortgage industry, your servers and computer desktops become an essential technology tool because of how much private data you work with daily. Undoubtedly, you worry about the safety of the personal financial information that gets loaded into your servers and computer desktops while working with clients. You may also worry about business continuity if some major disaster occurs. Having an on-site server or on-site computer desktop may be your long-time storage method that you continue to use out of habit. However, do you really know what would happen to all your client data if your server or computer desktop shut down due to natural or human circumstances or was breached by security threats?

No matter if you have backup, a disaster plan, or security features in place, getting your mortgage firm back up and running quickly after a crash or hack is another thing. It's time you saw the cloud in a brighter light and understood how much it helps the mortgage industry in the realms of security and in saving money. You can consolidate all of this in our MortgageWorkspace™ cloud solution here at Access Business Technologies.

Eliminating the Expense of On-Site Servers and On-Site Computer Desktops

For mortgage companies, having a secure server system and computer desktops is crucial to the safety and success of your business. You can't have a mortgage firm without having a reliable server that can facilitate the continual flow of data and store all of your important data. However, hosting these servers and computers desktops on-site can be a huge expense

Not only are the servers and computer desktops themselves expensive, but the IT support and maintenance that goes along with them can add up fast as well. When you use Access Business Technologies’ MortgageWorkspace™ cloud, you have a remote space to store your data without the worry of any maintenance or support costs. We provide the cloud storage space you need and manage it at all times.

Better Security

In the last 18 months, the world has seen a sharp rise in cyber-attacks. Last year the term “data breach” became mainstream vernacular. In 2014 the Wall Street Journal devoted 1,102 articles related to data breaches, up by more than 50% from the 470 articles from the previous year.  Mortgage companies store more personal information about customers than most banks.  Mortgage companies are prime targets for hackers. With all of that data moving in and out of an on-site server and on-site computer desktops, you face some major security risks if you do not have a strong IT management team on hand and a clear plan for data security.  Even when you have a strong team they don’t always have the time to keep up with the latest vulnerabilities and continually update your hardware and software to protect against evolving threats. You need full-time security experts to properly manage the new threats in addition to continually purchasing new software and hardware. 70% of companies were hit by Cyberattack in the last 12 Months, and 43% of ALL companies have experienced a data breach in the last 12 Months. In the event that your private data is compromised, you could face legal problems, hefty fines, or more importantly, a substantial loss of trust (and potentially business) from the clients whose private financial data you have promised to keep safe.

Using our cloud solution, you're guaranteed to have the best security technology and 24/7 monitoring designed specifically for the mortgage industry, so hacking events and other cyber threats don't disrupt your business.

Without proper security tools, you're walking on a minefield, with potential security vulnerability you won't even realize exist until it’s too late. No matter if it's a holiday or weekend, with MortgageWorkspace™, you're always monitored with preventative measures that are in place to ward off the any security threats.

Convenient Upgrades

All mortgage companies start small and begin to grow as time goes on. A stellar reputation could increase that business virtually overnight, but in order to maintain that kind of reputation, you will need to keep your servers and desktop computers running without any crashes or disruptions to your workflow. Our cloud solution allows for fast upgrades and increased access to productivity tools that can change and grow with your business.

Now you can scale your mortgage firm quickly without delays and any risks of downtime. As a true money-saver, you have predictable costs with MortgageWorkspace™. You pay a steady rate for what you use, and there aren't any unexpected charges on your monthly bill. By moving your computer desktops and servers to the cloud, you empower your mortgage professionals to safely perform at the top of their game anytime, anywhere.  You can support, defend, and manage game-game-changing technologies and processes that help mortgage professionals thrive.

Contact us here at Access Business Technologies to learn more about Mortgage Workspace™ and how your mortgage firm can benefit from making the switch to the cloud.

Topics: Cloud Services ABT Cloud Mortgage Servicing Cloud Cloud Computing Mortgage Cloud Services

Protecting Against Online Financial Data Theft

In the last 18 months, the world has seen a sharp rise in cyber-attacks. Last year the term “data breach” became mainstream vernacular. In 2014, the Wall Street Journal devoted 1,102 articles related to data breaches up by more than 50% from the 470 articles from the previous year.  Thinking about how much financial data your mortgage firm deals with on a daily basis is enough to make your head spin. Because of this, you probably find yourself thinking about mortgage company security all the time. But if those concerns are keeping you up at night, it may be time to think more seriously about what kind of security you're using and whether it's really working to ward off cyber dangers.Last year, The Los Angeles Times did a piece about how vulnerable mortgage companies really are to the above threats. The report came from a cyber security firm called Halock Security Labs and an extensive study on mortgage lenders about their security vulnerabilities. In the report, the firm found that out of those surveyed, seven out of 10 mortgage firms sent digital data without proper encryption.

Perhaps this doesn't surprise you when we've evolved as a culture to turn off security concerns while sending or storing data online. With mobile device convenience and other advanced technology, it's easy to just ignore growing security needs and continue business as usual.

70% of companies were hit by a cyber attack in the last 12 months, and 43% of all companies have experienced a data breach in the last 12 months. In reality, everyone who deals with sensitive data online is vulnerable. Sometimes it means experiencing data theft unknowingly, discovering weeks or months later that your data was compromised. Other times it can mean major security breaches that leave your mortgage company reeling.

For your mortgage firm, what solutions can you find that are affordable and work efficiently to keep you safe from these threats? Take a look at some of the systems we offer here at Access Business Technologies and some scenarios where data from your mortgage clients could get into the wrong hands. A breach of your mortgage company's data may turn your customers into victims of identity theft and fraud.

Security on Mobile Devices

We have various solutions to make the entry and retrieval of private financial data on mobile devices extremely safe. By using MortgageWorkspace™, you have a reliable storage system for all of your client information with 24/7 monitoring protection. As you use our cloud solution, you have numerous tools to add to your security. You won't have to invest in individual security software because it already comes with the package.

When it comes to email, you're especially vulnerable while keeping in contact with clients. On a mobile device, you're more susceptible to a lack of judgement on malware when you're in a hurry. Our EmailGuardian™ is another great tool that loads on any device and monitors your emails to protect you from major viruses like Ransomware.

The same goes for our DeviceGuardian™ that works on mobile devices or on office computers. This tool helps provide reliable encryption on all your data, as well as helping you keep up with the latest security regulations.

Security Nightmares with Your Mortgage Employees

It's possible that many of your mortgage professionals are working out in the field in order to better serve their customers. As they head out to find or work with clients, they may have to use a Wi-Fi network in unfamiliar places. The problem, however, is that not all of those Wi-Fi networks are secure, even when they seem to be trustworthy.

As your loan officers enter private information while working with a client, someone could end up infiltrating a Wi-Fi network and taking personal information as it's entered. Additionally, as you attempt to do file sharing with clients or call up information to review, the same cyber theft could occur.

With the services provided by Access Business Technologies, you won't have to worry about cyber theft because the devices you use and all of the content you manage will be fully protected. Additionally, by using our cloud solution, all data is easily accessible anywhere you have an Internet connection, so critical financial information never gets lost. By moving your computer desktops and servers to our mortgage cloud, you empower your mortgage professionals to safely perform at the top of their game anytime, anywhere.  You can support, defend, and manage game-changing technologies and processes that help mortgage professionals thrive.

Contact us to find out more about the level of security we provide for the mortgage industry. We're a certified SSAE 16 Type II technology services provider that works to keep mortgage companies safe.

Topics: ABT PowerCore information security for mortgage companies MortgageWorkSpace

Moving the Mortgage Industry Into the 21st Century

The 21st Century has seen huge advancements in technology, advancements that are changing the world and the ways we connect, communicate, and do business. But despite all these changes, many people in the mortgage industry believe that the advancements in technology don't matter to them because, all in all, their business hasn't changed. Why fix something that isn’t broken?

But the truth is the mortgage industry is changing, and that means that the technology mortgage companies use needs to change too.

Most mortgage lenders maintain local servers and manage all of their software, applications, and customer data locally on employee computers. Their systems require extensive IT support to do everything from updating company software to troubleshooting technology issues to maintaining security protocols. While this system may work for a lot of mortgage companies, technological advances have made it possible to manage all of these tasks and systems much more easily and efficiently.moving_the_mortgage_industry_into_the_21st_century

At Access Business Technologies, we’re working to move the mortgage industry into the 21st century by providing the cloud-based solutions businesses need to manage their mortgage software, safely access their important data, and ensure full compliance with Consumer Financial Protection Bureau (CFPB) regulations.

Managing Mortgage Software

One of the biggest apprehensions mortgage companies have when considering a switch to new technology solutions is that it will not be compatible with their current software or will be difficult to integrate with their current systems. However, this line of thinking does nothing but cause mortgage companies to fall behind their more tech-savvy competitors.

Cloud-based systems like Access Business Technologies’ MortgageWorkSpace™ are not only simple to integrate into your mortgage company’s systems, but they also help you manage and access those systems more easily. MortgageWorkSpace™ allows loan officers to access their desktop, software applications, and data from the cloud from wherever they are, as if they were running them locally. This cloud-based desktop solution also provides automatic updates on all of your mortgage software, so you never have to worry about running outdated versions, as well as 24/7 technical support from ABT professionals. This lessens the burden on your in-house IT staff and can reduce their cost impact.

Meeting Modern Security Needs

The 21st century has brought with it some incredible new technological advances, but it’s also brought with it the most advanced and pervasive cyber security threats the world has ever seen. As a mortgage company, you are tasked with the major responsibility of protecting your customer’s private information. However, if your business is still relying on outdated security methods and ignoring mobile security altogether, then you’re simply not doing right by your customers.

Security should be the number one priority of any mortgage company. A breach of security can not only cause irreparable damage to your customers but to your business as well. At ABT, we offer services that are specifically created with modern security needs in mind. From our MortgageWorkSpace platform to our EmailGuardian and DeviceGuardian™ applications, we provide essential protection for every aspect of your mortgage business. This includes complete protection from spam, viruses, malware, phishing, and data leaks, as well as sophisticated backup and disaster recovery protocols that enable you to restore your data in the case of an emergency.

Ensuring CFPB Compliance

CFPB regulations are more stringent than ever for mortgage companies, requiring that extra measures be taken to ensure the protection of consumers’ financial information. Managing and maintaining the compliance of your mortgage company can be a big task without the right tools. As more and more companies face audits from the CFPB, it’s becoming increasingly that old compliance methods just don’t work.

At ABT, we ensure that all of our mortgage solutions are 100% CFPB compliant and that they continue to be. We regularly update our systems to guarantee that your mortgage company meets all of the regulatory requirements.  

Access Business Technologies addresses all of your modern mortgage needs. Our primary mission is to provide superior mortgage lending product applications over the cloud as a managed service. Our platform supports an infrastructure and provisioning system that fosters world-class speed in deployment, coupled with unparalleled security. We also have a cloud integration and data warehousing product that brings all of our mortgage software platforms together to allow our customers to fully integrate their systems without the use local servers or software. ABT has unequaled customer technical support, complete compliance, custom-detailed reports for each client, the highest possible mortgage industry expertise, and security that rivals Fort Knox, all for one affordable cost! Contact us and let us help move your mortgage company into the 21st century.

Topics: Cloud Services software hosting Hosted Software Cloud Mortgage Servicing Cloud Computing ABT Hosting Services

Creating a Secure Mobile Workspace for Your Mortgage Company: Common Threats and Solutions

Creating a secure mobile workspace is more necessary than ever as Bring Your Own Device (BYOD) policies become increasingly common in the modern workplace. In the mortgage industry, security is especially important, since your company is handling highly sensitive, private customer information every single day. When you start to handle that data from various devices, including mobile, it becomes imperative that your devices and data are being properly protected.

Recently released reports say that mobile technology poses the biggest risk to all enterprises around the world. It's worth noting, though, that we shouldn't blame BYOD ubiquity as the sole security problem. Security threats can come from a number of sources. It’s up to you to prepare and protect your company from those threats.

These days, it is not uncommon for many of your loan officers to travel for work. This mobility is important to the functioning of your business. However, oftentimes, this means your employees must use personal devices, such as tablets, smartphones, and laptops, on unsecure internet connections to access the information they need. Communicating with clients in this way can leave your company and your customers’ information at risk of security attacks.creating a secure mobile workspace

Let's take a closer look at these risks and how Access Business Technologies can help you create a more secure mobile workspace for your mortgage business.

Unreliable Wi-Fi Services

If your loan officers are hanging out in cafés to talk with clients or do work, it's safe to assume that they'll connect their mobile devices to a public access point for Wi-Fi. The trouble with this is you can't always tell whether it's a secure network. Many people get fooled by the innocuous names of Wi-Fi networks, which could possibly be provided by a nearby criminal capturing personal information.

Without any proper security on your mobile device, you're basically a sitting duck to online thieves who could access your clients' personal financial information. You could face major legal hurdles if you find out client data has been compromised and you did nothing to prevent it.

The Potential of Mobile Devices Being Stolen

As much as your loan officers try, they can't always have a guarantee of keeping their mobile devices safe. Even if they keep their smartphones or tablets in a bag while traveling, your employees could absentmindedly leave a device sitting on a nearby table for a thief to snatch in a second.

All the talk about wiping on mobile devices becomes a major point of issue, when you think about all the data that's on those devices. Having all of it freely available to a thief makes it more of a worry for you when your loan officers work in diffuse locations where anything could happen.

Let's not forget that viruses are just as much of a problem on mobile devices, and mobile sharing could mean virus spreads from one device to another. When this happens, it could end up shutting down your entire mortgage firm because one mobile device suffered from a cyber-attack or malware.

So how are all of these security risks prevented when they seem like such separate issues? That’s where ABT’s DeviceGuardian™ comes in.

Why DeviceGuardian™ Consolidates All of Your Mobile Security

Here at Access Business Technologies, we've developed a PC and device protection tool called DeviceGuardian™ that is designed and configured specifically for the mortgage industry. DeviceGuardian takes on the biggest challenges of mobile security and solves them all with one convenient solution. With a simple download on any mobile device, your mortgage business has complete protection against viruses and hacking attempts that integrates seamlessly with your existing mortgage software. Even more so, you have complete compliance with Consumer Financial Protection Bureau (CFPB) IT regulations.

With ABT’s MortgageWorkSpace™ and DeviceGuardian™ services, you'll also have complete management of your entire desktop, including software, applications, and customer data, wherever you are, with 24/7 technical support whenever necessary.

Contact us to find out more about how DeviceGuardian™ and our other mortgage technology solutions can help your mortgage company run more efficiently and securely. We'll make sure you have peace of mind knowing your loan officers can work safely without data compromises.
Topics: Cloud cyber security DeviceGuardian