In a recent dialogue with HousingWire, Tom Cronkright, co-founder and executive chairman of CertifID, elaborated on the critical implications of recent budget cuts to the Cybersecurity and Infrastructure Security Agency (CISA). These reductions pose a significant threat to the mortgage and real estate sectors, which are increasingly reliant on cyber defense mechanisms to protect sensitive financial information and maintain trust within the industry. Cronkright underscored that the diminishing resources allocated to CISA could weaken its capacity to assist private industry in detecting and thwarting cyber threats, rendering companies more vulnerable to sophisticated attacks. As cybercriminals become increasingly adept, relying solely on internal measures might not suffice; thus, industry stakeholders must advocate for robust federal support to bolster cybersecurity infrastructure.
Furthermore, Cronkright indicated that the mortgage and real estate industries are at a critical juncture where proactive measures are essential to counteract the effects of these budget cuts. The collaboration between private and public sectors, particularly in sharing threat intelligence and resources, is vital for enhancing the resilience of these industries against cyber threats. A call for cooperative cybersecurity strategies is imperative, as individual companies may struggle to combat these challenges in isolation. By empowering CISA and ensuring it has the necessary funding, all stakeholders in the mortgage and real estate markets can better align their defenses and create a more secure ecosystem for handling digital transactions and protecting consumer data.
**Key Elements:**
– **CISA Budget Cuts:** Recent cuts may impair mortgage and real estate companies’ ability to prevent cyberattacks.
– **Increased Vulnerability:** With limited resources, CISA’s effectiveness in supporting the industry against cyber threats is at risk.
– **Need for Collaboration:** Emphasizes the importance of public-private partnerships in enhancing cybersecurity measures.
– **Advocacy for Resources:** Urges stakeholders to advocate for increased funding to bolster federal cybersecurity efforts.
You can read this full article at: https://www.housingwire.com/articles/certifid-tom-cronkright-cisa-cuts-could-impact-safe-cybersecurity-practices/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
