External Process Validation Audit by Independent firm provides assurance to customers of cloud-based PPE technology, entrusting LoanPASS with sensitive information.
MIAMI, Florida – May 16, 2023 – LoanPASS is proud to announce it has successfully completed the System and Organization Controls (SOC) 2 examination in recognition of its commitment to information security. Developed by the American Institute of CPAs (AICPA), SOC 2 (System and Organization Controls) defines criteria for managing customer data based on five “trust service principles” — security, availability, processing integrity, confidentiality, and privacy.
A SOC 2 examination provides organizations with a report on an organization’s internal controls and how it protects customer data and sensitive information. It is the standard for data security among digital companies in the U.S.
An independent auditor, Insight Assurance, conducted the detailed examination. Through this process, LoanPASS demonstrated its adherence to data security, availability and confidentiality standards developed by the American Institute of Certified Public Accountants (AICPA).
Dave Gorsuch, Chief Technology Officer for LoanPASS stated, “LoanPASS is excited to be taking this important step to further its data protection practices with external process validation. As part of LoanPASS commitment to provide a modern transformative approach to best-in-class decision technology, LoanPASS customers can trust our products are compliant with internationally recognized auditing standards.”
With its SOC 2 recognition, LoanPASS not only protects the safety of its customers’ data today but demonstrates that it has set the right standards in place for the future.
To earn SOC 2 certification, LoanPASS completed the following:
Assessment of the design and operating effectiveness of LoanPASS controls
Thorough examination of security of vendors and third parties
Defined policies to ensure continued protection for customers and employees
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To learn more about LoanPASS, please reach out directly through our email (info@loanpass.io) or by phone (954-361-9714). LoanPASS will also be meeting with lenders and investors during the MBA Annual Secondary Conference in May 2023 and IMN Non-QM Forum in June.
About LoanPASS
LoanPASS is an industry leader in rules-based loan decisioning and underwriting systems for all lending products. The LoanPASS open APIs allow seamless integrations with leading CRM, POS and LOS providers. LoanPASS empowers lenders with a no-code, SaaS application with unparalleled control over loan product pricing and underwriting decision output. LoanPASS targets a variety of lending sectors including mortgage investors, independent mortgage banks, private lenders, banks and credit unions. To learn more, visit the company’s website at www.LoanPASS.io or call 561-254-5971.
Contact:
Bill Mitchell, CRO
Direct: (561) 254-5971
LoanPASS Media Contact:
BlackFin Group
ABall@BlackFin-Group.com Cell: 858-848-9607 www.BlackFin-Group.com
LoanPASS Operations Contact:
Derek Long, COO
Dlong@loanpass.io
LoanPASS Technology Contact Dave Gorsuch, CTO Dgorsuch@loanpass.io