Press
LoanSifter Completes Soc 1 Data Privacy Examination
Warren Lutz
Strategic Vantage Marketing & Public Relations
(925) 270-3941
PR@StrategicVantage.com
Successful SSAE-16 Type II examination assures tens of thousands of LoanSifter users that their rate and pricing data is protected by leading controls standard used in the financial services industry
APPLETON, WI—June 7, 2012—LoanSifter, Inc. (www.LoanSifter.com), a leading provider of product eligibility and pricing solutions for the mortgage banking industry, has successfully completed a rigorous SSAE-16 Type II SOC 1 (Service Organization Controls Report) examination in accordance with the latest reporting standards put forth by the American Institute of Certified Public Accountants (AICPA). The achievement gives lenders, banks and credit unions assurance that their data is being protected by one of the toughest standards that exist in the financial services industry.
The Statement on Standards for Attestation Engagements No. 16 (SSAE-16) standard is used to assess a company’s internal controls for data protection. Tampa, Florida-based BrightLine CPAs & Associates, Inc. independently conducted LoanSifter’s SSAE-16 examination for the period of September 1, 2011 through March 15, 2012.
“The nature of the financial industry requires reliable partners with a proven history and a commitment to excellence, so ensuring the security of client data has always been of utmost importance to LoanSifter,” said LoanSifter President Bruce Backer. “The results of the SSAE-16 Type II examination validate the stringent controls and safeguards employed by LoanSifter to ensure the integrity of our data and processes across our platform. At a time when trust is at a premium in the mortgage industry, our users can have confidence that their data – and their borrower’s data – is safe with us.”
A Type II examination – the type that LoanSifter received – determines whether a company’s policies and procedures were effective during the examination period. It is more demanding than a Type I examination, which only involves the examiner’s opinion on a company’s controls.
LoanSifter received an unqualified report on the criteria described in its assertion statement, with no exceptions for any tested controls, demonstrating the company’s commitment to the highest standards of operational excellence for its SaaS-based mortgage platform.
About LoanSifter
LoanSifter, Inc. provides the mortgage banking industry’s most comprehensive platform for independent mortgage bankers, credit unions and banks to accurately price, market and manage their loans. LoanSifter is also the leader in delivering marketing tools to lenders, including its eOriginations point-of-sale (POS) platform, email campaigns, rate alerts and automated quoting for Zillow, Bankrate and LendingTree. LoanSifter is recognized as a Top 50 Service Provider by Mortgage Technology magazine and most recently received an Innovations Award from the PROGRESS in Lending Association for its LoanSifter AMRi (www.LoanSifterMortgageIndex.com), the mortgage industry’s premier real-time mortgage rate index. Founded in 2004, LoanSifter is headquartered in Appleton, Wisconsin, and has experienced topline growth for 22 consecutive quarters dating back to 2006. For more information about LoanSifter, please visit www.LoanSifter.com.