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Cybersecurity for the Mortgage Industry — Part 1

Responsibility lies at the top but everyone involved can help

I’ve been trying to buy a house since February and finally closed. It’s been quite an ordeal. I’m going to write about some cybersecurity issues I noticed along the way to help with awareness and hopefully some organizations and individuals will take actions that will help make transactions in the industry more secure.

When I told someone who was helping me about this he said, “You’re going to call us out?!” No. First of all, he was a lawyer so that would be dumb on my part. But more importantly, that is not the purpose of this series of blog posts. I want to help people understand why seemingly small problems can lead to bigger problems and what to do about them. I also hope this information gets to the right people in the industry and at the organizations (without naming names) so they can make improvements and fix problems.

The other thing is, I don’t think this is specific to any one company or person. I had issues with pretty much every mortgage industry or document portal I logged into in one way or another. I feel bad for the people that have to deal with them every day. They were all apologetic and these problems are not their fault. I suspect a lot of other portals and processes I didn’t deal with have similar issues. I sold in one state and purchased in another that had completely different processes but some of the same underlying issues in regards to how buyers and sellers give and receive information for wire transfers.

I’m almost afraid to write these blog posts for fear that the wrong people will read them and the right people won’t. The wrong people will be eager to hear about problems in the industry and take advantage of it while the right people may be too busy making money or unconcerned to bother. In other cases, the people in the industry who read it might not be able to do anything about it as they are not decision-makers or the people who can affect change. Perhaps they can pass the message along because fixing these problems will make everyone’s job easier and people’s money safer.

The changes in this industry to fix some of the problems lie in the realm of the industry as a whole, executives, and in a worst-case scenario since no one in business likes compliance and regulations, with the government. Hopefully, the industry can make some adjustments before more wire transfers end up in the wrong bank accounts or an adverse event such as ransomware affects their systems.

Stay tuned for more blog posts explaining the following areas where cybersecurity risk gets introduced into mortgage transactions:

Although I believe fixing cybersecurity issues likes with the people who are ultimate decision makers at a company or within an industry, each individual within the process can take some small steps to reduce risk based on some simple recommendations which I will provide.

Teri Radichel

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Read the series: Mortgage Industry Cybersecurity


I’ll be speaking at CloudLive hosted by CloudHealth by VMWare May 19th and 20th, 2021. Cloud Offense Informs Cloud Defense. Register today!


Want to learn more about Cybersecurity and Cloud Security? Check out: Cybersecurity for Executives in the Age of Cloud on Amazon

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Have a Cybersecurity or Cloud Security Question? Ask Teri Radichel by scheduling a call with IANS Research.

For a recap of cybersecurity news last week check out the 2nd Sight Lab Cybersecurity News Blog. Malware, vulnerabilities, data breaches, cost of a data breach, cybersecurity laws, and interesting cybersecurity developments.

Cybersecurity & Cloud Security Resources by Teri Radichel: Cybersecurity and Cloud security classes, articles, white papers, presentations, and podcasts




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Teri Radichel

Teri Radichel

Cloud Security Training and Penetration Testing | GSE, GSEC, GCIH, GCIA, GCPM, GCCC, GREM, GPEN, GXPN | AWS Hero | Infragard | IANS Faculty |

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