Mortgage Lenders Unsafe Email Practices Placing Customers At Risk

At your own risk

A recent research study by cyber-security firm, HALOCK, revealed some alarming email habits of U.S. mortgage lenders. Their study of large and small U.S. mortgage lenders found that over 70 percent permitted applicants to send confidential information over unencrypted email. Only 12 percent offered customers a secure messaging portal. When asked why secure email options were not offered, respondents explained that it was a matter of what the customer was “most comfortable with”, and that everyone has access to a regular email account.

These statistics are disappointing on a number of levels. First, there’s clearly a lack of risk management taking place at many mortgage lenders who are placing both their customers and themselves at risk for a breach. Even if only out of self-interest, mortgage companies should understand that a breach can ruin a financial quarter for a larger firm or an entire year for a smaller company.

There’s also a lack of awareness of how secure messaging has evolved. Users no longer have to be directed to a portal. Whether your customers are using Gmail, Yahoo, Office 365, MS Outlook, a tablet or mobile, Cirius enables email encryption and large file transfer in the inbox they want to use. Want to see it for yourself? Sign up for a Cirius trial here.