Security Online Loan Application Service Provider Policy Essays

He can fill the application form through the online mode and can also know about the guidelines from the internet. Visiting the lender is a time-consuming process for the borrowers. Through the online mode, the loans can be availed with few clicks of the mouse.

The Consumer Finance Protection Bureau (CFPB) governs many financial institutions. The finance and Insurance office at your local dealerships is considered a financial institution. We collect credit information, originate loans, and act on behalf of lenders. This

Sioux Falls, SD is one of McBride’s locations. McBride Financial Services utilizes sensitive equipment and toxic chemicals during its manufacturing process. These high end and dangerous items place the location at risk. Some of the threats include: use of toxic chemicals, public transportation, crime, and acts of terrorism. It is McBride’s responsibility to mitigate these threats.

McBride Financial is a fast growing organization with plans to open a total eight offices located in Idaho, Montana, Wyoming, South and North Dakota. Services will specialize in providing financial mortgage assistance to first time buyers, retirees, professionals, families and individuals with credit problems. McBride Financial provides customers with informative information without any hidden cost. Breakdown of services and rates are thoroughly explained with every home purchase. Applications are processed within one business day.

The following policy is in response to McBride Financial Service's request to develop a security policy that will address its loan departments current needs as well as any issues that may arise involving online loan applications. McBride's target market comprises of an upscale demographic. Most of the individuals that request mortgages through this company are professionals, retirees, and families purchasing their primary or secondary home.(University of Phoenix, 2005) This is a market who is customarily aware of any changes to their personal information and/or financial records. Therefore securing this information is of extreme importance and essential to the longevity of McBride Financial Services.

Shorewest’s private and family owned status was an important factor, based on the assumption it would provide a better culture and more opportunities, unfortunately, when conducting a financial analysis of the company based on common measurement criteria, privately owned has drawbacks. Shorewest is not required to generate or share publicly, annual reports, normally where financial and market data is typically available. Without easily assessible financial data, it is hard to measure profitability, however, the data available does demonstrate a track record of home sales and agent recruiting. Growth and resiliency appear to be a strong competency, the company survived the housing crash with diversified service offerings in their mortgage, title and insurance divisions. Creation of their home services division in 2011, designed to coordinate moving and utility transfer activities, shows courage and innovation. This service was discontinued in August, which also demonstrates sound measurement and financial decision making, many companies are slow to cut the cord when a product or service is not performing to plan. Even without specific financial data, there is solid evidence to support adequate financial efficacy and long-range planning.

Please provide clarification with respect to the attached disclosure. Specifically, pursuant to the regulation requirement below and how the disclosure is delivered to the borrower. Is the disclosure delivered via secured email and is there a process in place wherefore you receive confirmation once the borrower is in receipt of the disclosure? Please advise.

The McBride Financial Website offers customers a service in which to purchase residential and recreational property loans. McBride Financial website offers credit reporting, home inspection, appraisal, and mortgage loan services for one low price for $1,500.00. Although this information is listed on the current McBride Financial website, Team A has been commissioned by service request SR-mf-001 to make improvements to the website, to offer online customers easier access, better educational information, and to create a website that is designed professionally, organized, and creates a resource for customers in need of a residential loan, and to see houses available to purchase.

In this paper the members of group A will look at McBride Financial Services project to expand its operations and three financial

When developing McBride Financial Services Security Policy, it's important to consider the various aspects of the firm's customer base. Generally, the organization's customer base is made up of professionals from an affluent demographic, retirees seeking for mortgages, and families that want to buy a home (Rodgers, 2010). While the customer base consists of a diverse range of people with different needs, these people are well-educated individuals. As a result, the organization's customer base is extremely cautious about personal

Our application is online. This means that you won’t spend a long time waiting in a lobby somewhere, waiting for a loan officer to contact you. We only need a bit of information to get you started.

We collect, hold, use and disclose personal information about you (including information required to comply with Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), the National Consumer Credit Protection Act 2009 (Cth) and the Personal Property Securities Act 2009 (Cth)) to: assess and process your application; provide you with, manage, audit, evaluate, improve and develop product or services; notify a credit reporting body or other credit providers of your payment history or any default by you; conduct credit scoring; model and test data; communicate with

There will be a disaster plan in place for such things as floods, storms, of equipment failure. All customer information will be backed up and on a secure network and system with password protected group policies.

Lending evaluations by Santander are based on credit background of the person (or company) who wants borrow. Through the development of a credit-approval system, Santander Consumer Finance increased an understanding into these clients on an online database which allowed for the use of real time analysis in determining interest rates for the business interactions.

Geographic distance between lender and borrower is another possible explanation for the effect of the banking network on small business lending. Distance acts as an obstacle for banks in assessing loan applications, and raises the opportunity cost for borrowers to negotiate for the best offers (Sussman \& Zeira, 1995, Sussman \& Zeira, 1995). Mortgage lending, although less dependent on ``soft information", benefits from banking networks as well. Ergungor (2010) finds access to physical branches promotes mortgage originations and lowers the mortgage spreads in low-to-moderate income (LMI) neighborhoods.