A New California Regulation Will Raise Some Eyebrows

The following is an excerpt from the article Taking Privacy Seriously in the New CCPA Era, which appeared in Scotsman Guide. Click here to read the full article. 

Technology has revolutionized the mortgage industry, making the efficient use of data a pillar for success. Big data has fueled the ability of mortgage lenders and originators to reach prospective borrowers at the right time and with the right information, improving the client experience along with acquisition and retention efforts.

With big data, however, comes big responsibility. Looming regulations require lenders and originators to balance the ability to leverage consumer data with newfound accountability.

Access this article to read: 

• Aspects of the CCPA that contradict other mortgage lending regulations already in place 
• How businesses are turning to some form of outside partnership to manage these interactions. 
• Ways to work with compliance partners to help to navigate the law