SimpleNexus Successfully Completes SOC2 Attestation Engagement to Convey the Design & Effectiveness of Its Internal Security Controls
SimpleNexus is the leader in private-labeled mobile technology for the residential mortgage industry. Independent mortgage lenders, banks and credit unions rely on SimpleNexus to stay competitive, close loans faster, and remain compliantly convenient for their sales teams. Founded in 2011, SimpleNexus is the trusted fintech provider who has kept up with the strict regulatory environment in the mortgage space. SimpleNexus supports more than 10,000 active loan originators, has been used for more than 2.5 million calculations, and their mortgage apps have been opened more than 4.5 million times.
On December 7th, SimpleNexus announced receipt of its Service Organization Control [SOC] 2 Type II attestation engagement report, providing independent validation that the company's internal security controls are in accordance with the American Institute of Certified Public Accountants' applicable Trust Services Principles and Criteria.
The report, prepared by the auditing firm The Owen Group, evaluated SimpleNexus' mobile mortgage services, mortgage software integrations, and relationship based marketing systems, focusing on organizational and operational safeguards against unauthorized access, both logical and physical. The key criteria analyzed included policies, communications, procedures and monitoring.
The review process confirmed SimpleNexus' adherence to the AICPA's Trust Principles related to security controls. The AICPA created the SOC guidelines to provide an authoritative benchmark for service organizations to demonstrate implementation of proper control procedures and practices. Type II reports include detailed testing of the operational effectiveness of the described systems' security controls.
"The SOC 2 attestation engagement report clearly illustrates that security is of paramount importance to SimpleNexus," said Matt Hansen, the company's CEO. "SimpleNexus undergoes independent audits annually, for certification as a fintech vendor in the mortgage space.
"Public and private companies rely on SimpleNexus to drive new business as well as close loans more efficiently. Today's announcement provides assurance that we have the systems and control procedures in place to safeguard clients' sensitive information. It is one more reason why SimpleNexus is recognized as the mortgage industry's gold standard in mobile mortgage solutions."
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TMC - Chief Operating Officer