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Lender Toolkit is Setting Customer Standards Even Higher by Obtaining a SOC 2® Report

By September 9, 2021 No Comments

Lender Toolkit, a provider of leading technology solutions that delivers the digital mortgage experience you desire, is excited to announce the successful completion of a System and Organization Controls (SOC 2) examination. This was conducted by an independent third-party audit firm. Lender Toolkit passed the SOC 2 examination, confirming that it meets or exceeds audit requirements set forth by the American Institute of Certified Public Accountants (AICPA).

Lender Toolkit’s “services “were assessed under the Security Trust Services principle, with a focus on how their tools, solutions, software, processes, and procedures are implemented and protected against unauthorized access or usage. Lender Toolkit’s SOC 2 report provides customers with a verified assurance that their services meet the audit requirements set forth by the AICPA.

Completing this certification provides Lender Toolkit’s customers and partners a peace of mind, assuring that their information is secure. Lender Toolkit’s customers are mortgage lenders, and the benefits that they see include an increased level of data security and a robust business continuity plan that Lender Toolkit’s system offers.

Why did Lender Toolkit pursue a SOC 2 report?

Our customers rely on Lender Toolkit everyday to power their business—our leading technology solutions combined with our technology and business experts uniquely positions us to help our clients get the most out of Encompass and its integration capabilities. It’s crucial that we help our customers by ensuring that their data is secure and available. 

“Lender Toolkit is pleased to have completed the SOC 2 examination,” said Brett Brumley, CEO. “As security breaches run rampant, we find it imperative to put in place controls that protect our client’s invaluable data. This designation is a testament to the importance we place in not only providing superior technology solutions, such as our PowerTools, but also in the security of our internal processes.”

What is a SOC 2 report?

SOC stands for “Service and Organization Controls”. These controls are a set of standards outlined by the American Institute of Certified Public Accountants (AICPA) to measure how a service organization handles their users’ data. A SOC 2 report provides detailed information and assurances about a service organization’s controls relevant to the systems the service organization uses to process customer data. A service organization may obtain a SOC 2 report after a third-party review of the security and availability of those systems. Companies often rely on a service organization’s SOC 2 report as a security compliance requirement.  

For Lender Toolkit, the report serves as assurance to customers that we sufficiently:

  • Secure customer data and personal information
  • Ensure customers have easy access to their data within our platform
  • Prevent unauthorized access to customer data and information  

What is included in Lender Toolkit’s SOC 2 report?

Our full SOC 2 report describes the various security controls and processes we use to secure customer data and make this data consistently available to our customers. It details the precise software infrastructure and processes we use to achieve data security and availability. A few of the controls covered in our report are: 

  • System monitoring and ongoing risk assessments
  • Internal access control to production environments
  • Disaster recovery, data backup, and incident response processes
  • Communication of changes to customers
  • Employee on-boarding and termination processes

These are just some of the many practices that are detailed in our SOC 2 report—but our commitment to the privacy and trust of our customers doesn’t stop there. Lender Toolkit continues to strive to meet and exceed industry standards of service excellence by putting together solutions for companies using ICE Mortgage Technology’s Encompass® Software. Lender Toolkit’s leading technology solutions combined with their technology and business experts uniquely position them to help their clients get the most out of Encompass and its integration capabilities. Extensive technology knowledge and implementation experience combined with over 100 years of mortgage lending experience, Lender Toolkit’s Technical and Business Professionals thrive on bringing clients the tools and resources necessary for success.

For more information about the SOC 2 audit, please visit the American Institute of Certified Public Accountants website.

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