8 Ways To Keep Your Personal Information Secure During Online Financial Transactions

If you’re shopping for home financing on the internet, you’re not alone. A 2019 Data Facts survey found that 92% of recent mortgage borrowers researched lenders online before contacting them or applying for financing. In addition, more than 50% of home financing applications completed in 2018 and 2019 were partially or entirely submitted online.

Since October is National Cybersecurity Awareness Month, we thought it was a good time to remind you of the steps you can take to help ensure that your online activities and transactions are always secure.

Before you complete a loan application and click Send, take a few minutes to check out these security guidelines.

1. If you’re applying for a home loan or any financial transaction, look for the signs of a secure browsing session. Secure sites’ URLs should begin with “https:” and/or a closed padlock icon,

2. Create a new, unique username and complex password specifically for your home loan application. Avoid using words that can easily be found online in your social media posts, such as a pet’s name.

3. Read the mortgage lender’s privacy statement to ensure their standards meet your own. Here is the Home Mortgage Alliance Privacy Policy >

4. Avoid using public Wi-Fi hotspots or networks to access financial documents or share personal information. They may not be as secure as your home or office network.

5. If you must use a public Wi-Fi service or have concerns about overall security, subscribing to a VPN service will encrypt your connection and deter cyber-snoopers.

6. Use an email system that requires you to authenticate (log in) to be able to view the contents of the email and attachments.

7. When electronically signing your loan disclosure documents, look for the same signs of secure browsing sessions (see #1 above) before proceeding.

8. If you prefer to sign loan documents in person, your lender should be willing and able to arrange this – either at the lender’s office, your workplace, or home.

Additional information is available from the U.S. Computer Emergency Readiness Team (US-CERT) web site: Want to learn more about our dedication to keeping your personal and private details safe and secure? Contact a Home Mortgage Alliance loan originator for an informative chat.
- Oct 01, 2020