Blog with MAE Capital

Applying for a Mortgage Online

November 11th, 2013 1:51 PM by Gregg Mower

It has come to my attention that there are still folks that are afraid of applying for a mortgage online. I can understand the logic, but in today’s world the systems that are in place to protect client’s information are ultra-secure. Since the Mortgage crisis started in 2007 there have been laws upon laws to protect clients and their personal information. I supposed there are hackers out there that can break such encryptions used to protect data, but most hackers can get your information in easier placers than trying to break an encrypted file.

When you enter your information online most sites take you to a far more secure site, although it may look like it is part of the original site, in most cases such as ours, it is a site we pay for to be ultra-secure. We use a system called embedding that embeds another site into the original site so it looks like the host site. This is for your protection, when you go there you will generally have to create a login to start the process. Once logged in you will see that the site suddenly looks and feels different than the host site. This is the security working for you. Once all you information is entered you should be able to go back and use your login to edit and see the progression of your application. It is also nice to apply online as you will be updated automatically as the lender touches your file.  Conversely, if the information is entered into the lender’s processing system by them you will not be able to see the progress. With our site you can also upload your documents securely.  You should be able go back in and add documents as you get them at your leisure and the lender will be notified of their existence and the documents will be automatically attached to your file.

Most Real Estate Loans, in today’s world, are kept digitally which means even if you provide the lender with a photocopy of your documents requested the lender will then scan them and attach them to the file digitally. When files are sold or transferred they are transferred digitally. So to scan a document and email it to your loan officer he or she will simply attach it to the digital file anyway. In fact, your financial information with your lender, your credit cards, student loans and most all financial institutions are kept digitally. So if you are afraid of entering your private information on a digital application, you should not be, as it is already digital somewhere else. Real Estate loan sites are probably the most secure sites to enter your information in, so don’t be afraid we have your securely taken care of as well.

Posted in:General
Posted by Gregg Mower on November 11th, 2013 1:51 PM



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