Mortgage Applications Should be Secure

Posted January 16, 2008

As a mortgage professional in Charlotte, I go out of my way to take care of my clients. When it comes to their security and their privacy, I leave nothing to chance. So when I recently visited a local Realtor’s website and looked around their website, I was shocked at what I found.

Shocking security issues on real estate website

A Lack of Your Security

The Realtor offered a pre-approval form on their website, but it was not secured in any way! As a matter of fact, the agent’s website is a “template” style site hosted by one of the larger real estate focused website companies!

You see, many Realtors (and mortgage lenders) offer “pre-qualification” forms on their websites. These are mini-applications for a mortgage loan designed to help get their potential clients pre-approved. Most of these are hosted on template style websites that agents and loan officers pay for. While I applaud the offering, how it is offered is what scares me, and should scare you!

Not properly securing an online form opens the client to possible identity theft. Now, I am not saying to avoid submitting your information online… I actually have an online application too. What I am saying is to make sure that the form is secure!

How to Spot a Secure Website

There are a couple easy ways to ensure that your information is secure when applying for a mortgage or submitting any type of personal information online. First, look at the website address. All website addresses begin the same way (http://). However a Secure webpage will add one more letter (https://). Notice the “S”? This mean the website is secure and the transmission will be encrypted.

Another way to look for a secure website is in the browser. There is usually a lock displayed when a website is secure. Internet Explorer places the lock in the lower right hand corner (for versions up to 6.0) or near the address bar at the top (in version 7.0+). Firefox also places it in the lower right hand corner. A lock shows that the site is secure and you are protected.

Worth The Risk?

If your agent or loan officer’s website application is asking for personal information, but they have not properly secured their website to protect you, you have to ask yourself what else they are falling short on. Sure, it could be an oversight, but are you willing to risk that?

Look for the signs of security… https:// at the start of the webpage address, or the lock in the browser. This will help to keep your personal information safe, which in today’s environment is very important!

Example of Internet Explorer 6.0 (Firefox is similar)