Posted on: 22nd Jan, 2005 12:11 am
Consumer security in applying for a mortgage loan online is always a matter of debate. Every consumer wants to be assured that the internet site is secured since through online mortgage applications they have provided their personal information. As a result, there are concerns about identity theft and other kinds of fraud.
Good lending institutions do keep these things in mind and try to make their site as much secured as possible so that chances of theft can be avoided. Once the loan application is completed, the text is translated to a secure code and only then, your details are sent to respective lenders. This prevents your information from being stolen. But as a consumer you too must be cautious as you don't have a face-to-face negotiation with the lender and don't know about his sincerity and working style.
Good lending institutions do keep these things in mind and try to make their site as much secured as possible so that chances of theft can be avoided. Once the loan application is completed, the text is translated to a secure code and only then, your details are sent to respective lenders. This prevents your information from being stolen. But as a consumer you too must be cautious as you don't have a face-to-face negotiation with the lender and don't know about his sincerity and working style.
I think you should do not worry about it. There is some privacy activate for online.
disagreeing with you here, suyog. a consumer should always be cautious when online. there are plenty of bad people lurking.
Reputable mortgage loan companies do their best in making their site as secure as possible to make consumers comfortable in giving out their personal as well as financial information online. Good lending institutions keep security issues in mind and so they carry out safety measures to avoid theft from happening. Sites that are completely secure can be identified through their URL address. A URL address that starts with 'https' instead of just 'http' and has a padlock icon containing the site's security details is SSL certified, which means that it is a secure site. Every piece of information that is carried out in this website will be encrypted. Furthermore, lending institutions execute security measures of their own which further protect consumers' information. Once the loan application has been completed, all of the information on the application will be translated into a secure code to prevent them from being stolen and used for unauthorized purposes. Carry out safety measures of your own by learning the ways how to prevent credit fraud. Check "dailycreditmonitoring.com/can-credit-monitoring-keep-you-safe-from-identity-theft/" out for more information.
There is no security issue while applying in mortgage loan online. These companies do their best to secure your all information regarding your bank details.
But please always clarify first that company's website is authorized.
Then do any type of transaction regarding your mortgage loan.
But please always clarify first that company's website is authorized.
Then do any type of transaction regarding your mortgage loan.
