LoanLogics Receives SOC-2 Type II Certification
Jacksonville, FL, January 25, 2023
LoanLogics, a recognized leader in loan quality technology for mortgage manufacturing and loan acquisition, today announced it has once again successfully completed a Service Organization Control (SOC) 2 Type II examination, providing LoanLogics clients with confidence that their data is protected by one of the most stringent control standards that exists.
In December, an accounting firm that examined LoanLogics’ operations issued a report confirming the company’s controls, policies and procedures met the SOC 2 Type II criteria in accordance with standards set by the American Institute of Certified Public Accountants (AICPA). LoanLogics prioritizes maintaining its SOC 2 Type II certification on an annual basis.
SOC 2 audits are typically used by cloud-based service providers to demonstrate how they handle sensitive data, including personally identifiable information (PII), throughout their organization. While a Type I audit addresses a company’s systems and whether they are designed to meet certain control standards, the more stringent Type II audit addresses the effectiveness of these controls over time, typically over a period of 6 to 12 months.
A SOC 2 certification ensures companies that the technologies, systems and processes used by a particular vendor are well protected and secure and that the vendor has a business continuity plan in place to prevent disruption to a client’s business. Successful audits also confirm a vendor’s controls and the people who use its systems have been properly vetted and that the vendor is committed to the security, availability, processing integrity, confidentiality and privacy of its systems, as well as operating effectiveness.
Founded in 2005, LoanLogics is a provider of mortgage audit software, income calculation and verification technology, and document processing automation. This data-driven digital technology improves the transparency and accuracy of the mortgage process and improves the quality of loans. The company’s capabilities and audit services help residential mortgage lenders, servicers, insurers and investors validate compliance, improve profitability and manage risk during the manufacture, sale and servicing of loan assets. LoanLogics leverages the latest methodologies in cloud computing and machine learning technology to deliver greater value for our clients. To learn more, visit www.loanlogics.com.Media Contact
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