In a move aimed at enhancing cybersecurity in the mortgage industry, the Federal Housing Administration (FHA) has issued a new requirement for mortgage lenders. Under this mandate, lenders must report any cybersecurity incident within 36 hours of detection. This is a significant development in the industry as it aims to ensure the security and protection of sensitive borrower information.
Key points:
– The Federal Housing Administration (FHA) has implemented a new requirement for mortgage lenders.
– Lenders are now obligated to report any cybersecurity incident within 36 hours of detection.
– The goal of this requirement is to strengthen cybersecurity measures in the mortgage industry and safeguard borrower data.
– This move highlights the increasing focus on cybersecurity in the mortgage sector and the importance of prompt reporting and response to potential threats.
You can read this full article at: https://www.housingwire.com/articles/fha-cybersecurity-reporting-requirement-timeline-12-to-36-hours/(subscription required)
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