With all the cyber-attacks and security breaches in companies, in the US government, even in cars, security should be the top priority for all companies and their mortgage quality control compliance partners.
In today's world it is not enough to just depend on SFTP for secure mortgage document submissions. The only defense you have from a security breach is your password… which we hope isn't "password."
In the worst case, if an attacker gets ahold of your information and can hack into your company or your compliance partner's company they will have access to all the files sent over the lifetime of your partnership. Oops...
So, what other solutions for security do you have when working with a mortgage compliance partner?
eSubmit from MCA
Our eSubmit is more than just enter your password and hope for the best. It requires multi-factor authentication. eSubmit is also a one-way street, meaning you can only upload, not download. A single request has an expiration date of typically 14 days, when it expires, no one can access the upload portal. For complete security when you initially upload the files, they are fully encrypted (encrypted end-to-end via SSL).
File Signature & Type Verification
As an extra added safeguard, we validate the signature of the file. This verifies that a valid PDF is received and that you do not have to ask the client if there is a problem reading/viewing the PDF sent. Prior to submission the system verifies the contents of the known or expected file for added security. PDF files are tested to be PDF files, TIFF files are test to be TIFF files, and so on.
Security is our top priority when submitting mortgage for post-close and pre-fund quality control audits. With eSubmit, you do not have to worry about managing passwords and files being leaked. We take that pressure off you. As great as SFTP is, it's simply not enough security in this cyber hacking world.