Skip to content

Consumer Loan Act and Mortgage Broker Practices Act Survey on Technology Use


Because we are conducting rulemaking under the acts, and because this topic came up during the last Mortgage Broker Forum meeting, we wanted take this opportunity to learn more about business practices and technology. Please take a few moments and complete this survey to help us better understand how your business, and specifically your employees, use technology. The survey questions are grouped to first apply to all licensees under the acts, and then to apply more specifically to companies employing residential mortgage loan originators.
1. Describe what type of devices the Company provides employees to use for remote work. (laptop, phone, desktop, tablet, etc.)
1a. How are patches or security updates pushed out to remote devices?
1b. How are company resources returned upon employee termination? (What happens to company issued equipment?)
2. Does your company keep physical records at any branch?
3. Does the company use a cloud-based repository? If yes, answer 3a. If no, skip to 4. 
3a. If yes, do the MLOs conduct business directly into the cloud?
4. Does the company have written policies and procedures governing the use of electronic data?
5. Does the company have a Chief Information Officer (CIO)?
5a. Who in the organization is in charge of the company’s information security policies and procedures?
6. How often does the company conduct a risk assessment of its information security systems?
7. How many MLOs do you employ?
8. How many of your MLOs conduct business from a branch location?
8a. How many of those MLOs conduct business from a branch location that is the MLO’s resident?
9. How many of your MLOs conduct business otherwise remotely?
10. Must MLOs access the company mainframe via a VPN or similar system when collecting, storing, or working with a borrower’s PII or other sensitive information?
11. Do your MLOs keep physical records? If yes, answer 11a. If no, skip to 12. 
11a. If yes, describe what types of records MLOs keep
12. Does your company allow MLOs to conduct business via text messages? If yes, answer 12a. and 12b.
12a. Describe the activity MLOs are allowed to conduct through text messaging with borrower.
12b. Does your company use an API that captures those text messages?