Data Security and Buying a Home
In early May, the entire Western North Carolina area and the city of Asheville felt the effects of the ransomware attack on the Colonial Pipeline. The gas line that supplies much of the southeast was interrupted by a cyber-crime group linked to Russia that demanded $4.4 million to return operations control.
Asheville came to a literal standstill. When gas would arrive at any of the stations around town, a line of cars would form, often blocking city streets. It wasn’t long before people shared internet images of panic buying. Soon, service was restored, and life went back to normal.
The situation got many of us thinking about data security, especially in industries with sensitive customer information. How secure is your data when you work with an independent mortgage lender in the process of buying your home? Here’s what you need to know.
Choose a Reputable Lender
The first step to ensuring that your data is safe and secure is talking to a reputable lender. It’s okay to shop around and talk to several. Ask your real estate agent who they recommend. Meet with them over the phone, Zoom, or in-person if possible. Just like any other service, you’ll feel more comfortable with someone you trust.
Rely on Portals Not Email
Cybersecurity is a big industry, and there are plenty of ways to secure your data. Business portals are the most common right now. Just like your doctor might use, these are secure websites that store and encrypt your information so that only you and your independent mortgage lender can access it. Always use a secured connection when you send data through the portal, like your home WIFI that’s password protected. If you’re asked to send sensitive information via email, that’s a red flag.
Ask Questions
You must do your due diligence. Ask questions, so you better understand how your lender’s process is secured.
- What are your company policies if there is a data breach?
- What personal data will you need from me?
- What processes do you use to ensure my data remains safe?
Monitor Your Data and Credit
While our company handles all data security through our IT systems and databases, it’s always a good idea to remain diligent about your personal information. Regularly monitor your data and credit information. You can sign up for a data protection program that will alert you if there are problems with your personal information, such as passwords, financial accounts, or identity theft. This is an added layer of protection for you at all times.
Do you want to know more about how your data is collected and used during the mortgage process? Contact GoPrime Mortgage in West Asheville.
Do you want to understand the mortgage process better and get preapproved for your next home purchase? Call the team at GoPrime Mortgage today. GoPrime Mortgage in West Asheville is here to help. Call us today at 828-348-1907 – GoPrime Mortgage in West Asheville.
