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March 6, 2024

Simplifying Cybersecurity

Cyber threats are a constant concern, but with Mortgage Cadence, lenders can take proactive steps to safeguard their networks.

Anyone who tells you that cybersecurity is simple, simply doesn’t know anything about it. Securing our computer networks from an evolving threat is the furthest thing from simple, which is why Mortgage Cadence has some of the best minds on staff to keep our lender partners’ critical data safe.

We can’t make it simple. But we can make the process simpler. A good case in point is the Reverse Mortgage lending business.

Reverse mortgages bring unique information security challenges with borrowers’ lifetime account access (ie LOC), varied draw options, and complex servicing requirements. Managing consumer data safely over decades demands an ironclad yet flexible approach that aligns with forward lending products.

You can do this the hard way or the simpler way.

The hard way to secure a computer network

Edge computing has taught us that our systems are most susceptible to attack around the edges, where processing systems and user devices are situated. These are the people who access and alter the data held securely in our database of record.

Securing a central database is not necessarily an easy task, but it is far simpler than securing every device along the edge of the network that may try to access the information it contains.

The more users and systems along the edge with access to your network, the more difficult it will be to keep your data safe. This is especially true when the devices at the edge are operated by humans, who can fall prey to clever criminal schemes.

In the past, reverse mortgage lenders used their own software systems attached to their own database of record. Meanwhile, traditional mortgage lenders had another LOS wired up to another database of record. Today, in a world where more and more lenders are offering both types of loan products, having two LOS platforms doubles the work of keeping their network safe.

An easier way to secure the lender’s network

An integrated technology solution delivers reverse mortgage data protection within a broader information security infrastructure. Unified systems consolidate vendor networks, centralize controls, minimize exposure points, and leverage enterprise security investments.

Such consolidation becomes essential given the intensifying cyber threats. High-profile breaches occur monthly as hackers grow more sophisticated and aggressive. No organization appears safe, yet many remain fragmented across information systems, relying on partners’ security layers.

But those disjointed defenses full of gaps don’t cut it anymore. Despite hundreds of billions spent on cybersecurity across a range of industries, these attacks persist. Allowing outside vendors fragmented access to internal data through connections along the edge of the network multiplies vulnerability.

An easier approach is to cut this work in half by originating both forward and reverse mortgage loans on the same platform. The Mortgage Cadence tech stack is supremely positioned to do just that.

Mortgage Cadence has invested diligently in cybersecurity protections for its tech stack spanning loan origination, processing, underwriting, closing, vendor integrations, and secondary marketing for all products including forward and reverse products. Unity simplifies governance while enabling scale.

From network firewalls to endpoint detection to access controls and data encryption, one comprehensive suite centralizes protections. Consolidating reverse integrations inside an enterprise platform allows lenders to benefit from robust cybersecurity measures already deployed across their entire lending enterprise. Find out more about simplifying cybersecurity for your mortgage lending operation by visiting with us at Mortgage Cadence today.

By George Morales, National Sales Director at Mortgage Cadence 

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Media Contacts

Mortgage Cadence: 
Alison Flaig 
VP, Marketing 
(919) 906-9738