LenderSecure Debuts at 2013 ALTA Convention
October 8, 2013
Protecting escrow funds and consumer personal information security are among the most critical regulatory and compliance challenges. LenderSecure offers title and settlement agents a comprehensive package of solutions and tools that enable agents to demonstrate their safeguard and protection of escrow funds, client data and the documents containing non-public personal information (NPI), the company said in a release.
Increased regulatory pressures require lenders to take protective measures to ensure that their funds and their clients’ personal information are actively being protected by their third party vendors. The industry has seen multiple attempts at vetting title and settlement agents in an effort to offer these assurances, according to LenderSecure. As regulators and lenders struggle to identify precisely what to require of the industry, safeguarding of both lender mortgage disbursement funds and consumer personal information is of critical importance.
To meet this challenge, LenderSecure offers bundled security-related services and will offer a security toolbox, which includes RynohLive, Real Estate Data Shield and other industry best-in-class security solutions including comprehensive escrow fund transparency and security, data security and compliance, cyber-security, data destruction, background checks, E & O insurance, cyber insurance and more. LenderSecure is currently comprised of three companies:
- RynohLive: Escrow fund management and security
- Real Estate Data ShieldInformation security and compliance
- Marble Security:Cyber security
“I am thrilled to be a part of the industry’s first and only bundled security toolkit. Our market is demanding products and services that safeguard their dollars and data, and our best-in-class package is the ultimate solution”, said Dick Reass CEO and founder of RynohLive.
Christopher Gulotta, CEO of Real Estate Data Shield said, “Dick Reass is a true industry visionary. Long before the CFPB, ALTA’s release of their Best Practice initiative and lender initiatives to raise the compliance bar for their title & settlement agents, Dick developed the leading escrow fund security & transparency tools that set the bar for our industry. With escrow fund and consumer data security emerging as the critical compliance challenges, I’m proud to work with Dick and the other industry ‘best-in-class’ security providers, to offer title and settlement agents the first security solution marketplace.”