3 security concerns when working with third-party vendors

This article reinforces title agent concerns about lender attitudes toward their vendors.

As more lenders turn to third parties, regulators are emphasizing the importance of gauging the potential risks involved.

“You have to assess not only the vendor; you may also have to assess the vendor’s relationships. Some of these third parties have connections to other institutions and servicers,” Comptroller of the Currency Thomas Curry said in a speech to the Independent Community Bankers of America.

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3 security concerns when working with third-party vendors