Stay One Step Ahead: Cybersecurity Tips for Homebuyers
webadmin • November 22, 2024
Stay One Step Ahead: Cybersecurity Tips for Homebuyers
Let’s face it—getting a mortgage these days is mostly an online process. From filling out applications to signing documents, technology makes it easier and faster to buy your dream home. But with all that convenience, it’s important to make sure your personal information stays safe.
At Luminate Home Loans, we’re serious about protecting your data, but we know security works best when we’re in this together. Let’s walk through what cybersecurity means for you, what threats to watch out for, and how you can stay a step ahead of the scammers.
At Luminate Home Loans, we’re on top of it. We use secure systems, monitor for threats, and train our team to keep your data protected. But security isn’t just up to us. You play a big part in keeping your information safe too.
These situations are rare, but they show why staying vigilant is so important. We all need to work together to stay ahead of cybercriminals.
At Luminate Home Loans, we’re serious about protecting your data, but we know security works best when we’re in this together. Let’s walk through what cybersecurity means for you, what threats to watch out for, and how you can stay a step ahead of the scammers.
What Cybersecurity Means for You
Cybersecurity is all about keeping your sensitive information safe—things like your Social Security number, bank account details, and even your email address. When you’re working with a lender, you’ll share a lot of personal information, so it’s crucial to know it’s being handled securely.At Luminate Home Loans, we’re on top of it. We use secure systems, monitor for threats, and train our team to keep your data protected. But security isn’t just up to us. You play a big part in keeping your information safe too.
Cyberattacks in the Mortgage Industry: Why It Matters
Unfortunately, the mortgage industry has become a target for cyberattacks in recent years. Why? Because it handles a treasure trove of sensitive data. From Social Security numbers and bank details to employment and credit information, mortgage transactions involve the kind of personal information cybercriminals thrive on. Additionally, large sums of money flow through the mortgage process, making it a lucrative target for scams like wire fraud. As a result, cybercriminals are getting smarter, and they’ve started targeting the mortgage industry more aggressively. For example, there have been some big-name attacks—like the one on loanDepot earlier this year that disrupted its systems and impacted loan processing and phone services. There was also one that happened back in August at AnnieMac that potentially accessed and acquired files containing sensitive personal information of 171,074 customersThese situations are rare, but they show why staying vigilant is so important. We all need to work together to stay ahead of cybercriminals.
How You Can Stay One Step Ahead
Here are some simple steps you can take to protect yourself during the mortgage process:1. Verify Before You Act
If you get an email, text, or call asking for personal info or money, don’t rush. Reach out to your loan officer or lender directly using their official contact info.2. Stick to Secure Networks
When you log in to your mortgage account or send sensitive information, make sure you’re on a secure, password-protected Wi-Fi network. Public Wi-Fi is a no-go.3. Turn On Two-Factor Authentication (2FA)
Adding a second layer of security—like a code sent to your phone—makes it much harder for hackers to break into your accounts. Watch Out for These Common Scams
Knowing what to look for can make all the difference. Here are some of the most common tricks scammers use:
- Phishing Emails and Texts: These fake messages look like they’re from your lender, but they’re really trying to steal your personal info.
- Wire Fraud: Scammers might pretend to be your title company or lender and ask you to send money to the wrong account.
- Data Breaches: If your online accounts aren’t secure, hackers could get their hands on your sensitive information.
4. Keep an Eye on Your Accounts
Regularly check your bank and credit accounts for suspicious activity. If something looks off, report it immediately.5. Slow Down Scammers
If an email or text feels rushed or pushes you to act quickly, it could be a scam. Take a breath, double-check, and don’t let anyone pressure you.6. Strengthen Your Passwords
Avoid easy passwords like “password123” or your birthday. Go for a mix of letters, numbers, and symbols that’s unique for each account.How We Protect You
At Luminate Home Loans, we take your security seriously. From secure technology to constant monitoring, we’re working hard behind the scenes to keep your data safe. We also train our team to recognize risks and act quickly to stop them. Our goal is to give you peace of mind, so you can focus on what matters most—buying your home.But here’s the thing: cybersecurity is a team effort. By following a few of the tips from this blog, you can help us make sure your information stays safe throughout the process. Together, we can make your home-buying journey smooth, secure, and stress-free.
Have questions about cybersecurity or the mortgage process? We’re here to help. Contact us today to get started on your secure journey to homeownership!
Here at Luminate Home Loans, we’re always looking for ways to offer more value to our clients and partners. That’s why we’re thrilled to announce that we’re now a wholly owned subsidiary of Luminate Bank®—and soon, we’ll officially transition under the Luminate Bank® name.
For years, homebuyers have been hoping for a return to the ultra-low mortgage rates seen during the pandemic. But as we move through 2025, it’s becoming increasingly clear that today’s rates—hovering between 6% and 8%—aren’t going anywhere.
Luminate Bank® Welcomes Josh Eifert as Chief Financial Officer, Honoring Legacy of Dave Turk [Minneapolis, Minn.] – [2/4/2025] – Luminate Bank® is proud to announce the appointment of Josh Eifert as its new Chief Financial Officer, succeeding Dave Turk, who has played a pivotal role in shaping the company's strong financial foundation. Josh brings a wealth of experience and strategic vision to Luminate Bank, with 26 years in the banking industry. Most recently, Josh served as CFO at Tradition Capital Bank in Edina, Minnesota, where he led the financial strategy during its remarkable growth from $300 million to more than $2.5 billion in total assets. Before his tenure as CFO, Josh contributed to Tradition Capital Bank in other key financial roles. He began his career with Norwest and Wells Fargo Banks, gaining extensive expertise in financial and operational capacities. Luminate Bank's leadership transition reflects the company's thoughtful succession planning, ensuring its financial strategies remain robust and forward focused. Under the leadership of Dave Turk, Luminate Bank has built an exceptional financial infrastructure, delivering consistent results and creating a foundation that positions the company for continued success. Luminate Bank's CEO, Marc Campbell, shared his confidence in the appointment: "Josh not only brings exceptional financial acumen and strategic insight to Luminate Bank, but he also embodies the principles that define our organization: integrity, innovation, and a steadfast commitment to excellence," Luminate Bank's CEO, Marc Campbell, shared with confidence. "His leadership will ensure our financial strategies succeed and inspire confidence across all who depend on us." "I am honored to join Luminate Bank at such an exciting time. The company's remarkable history of financial excellence and its forward-thinking approach align perfectly with my values and vision," stated Josh Eifert. "I look forward to collaborating with the talented leadership team to build on this strong foundation and drive continued success for our customers, employees, and stakeholders." Josh graduated from the University of Minnesota with a degree in finance and completed the Graduate School of Banking at Colorado. CEO Marc Campbell expressed gratitude for retiring CFO Dave Turk's contributions, saying, "Dave has been instrumental in positioning Luminate as a financial leader. His dedication, insight, and stewardship will always be a part of our company's legacy." Josh Eifert will officially assume his role on February 18, 2025. About Luminate Bank® At Luminate Bank, We Open Doors—empowering individuals and families to achieve their financial dreams through personalized service and innovative digital solutions. As a nationwide bank headquartered in Minneapolis, Minnesota, we are committed to helping our clients meet their financial goals with a blend of modern technology, traditional values, and the trusted guidance of experienced professionals. Known for our exceptional commitment to customers, we take pride in delivering a seamless, supportive experience for every step of the journey. Our dedicated mortgage division has branches and a team of loan originators across the US, making expert home financing solutions accessible to communities nationwide. Luminate Bank is committed to safeguarding your money and accounts with FDIC insurance coverage up to applicable limits. Learn more about how we can open doors for you at www.luminate.bank , follow us on Instagram, LinkedIn, and Facebook, or call (952) 939-7200. For media inquiries, please contact: Debbie Schwake, CMO debbie.schwake@luminate.bank
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