Understanding The News: PPE Gets SSAE-16 Certification

*PPE Gets SSAE-16 Certification*
**Vendor Ensures Security**

***PROGRESS in Lending has learned that LoanSifter, a provider of product eligibility and pricing solutions for the mortgage banking industry, has successfully completed a rigorous SSAE-16 Type II SOC 1 (Service Organization Controls Report) examination in accordance with the latest reporting standards put forth by the American Institute of Certified Public Accountants (AICPA). The achievement gives lenders, banks and credit unions assurance that their data is being protected by one of the toughest standards that exist in the financial services industry.

****The Statement on Standards for Attestation Engagements No. 16 (SSAE-16) standard is used to assess a company’s internal controls for data protection. Tampa, Florida-based BrightLine CPAs & Associates, Inc. independently conducted LoanSifter’s SSAE-16 examination for the period of September 1, 2011 through March 15, 2012.

****“The nature of the financial industry requires reliable partners with a proven history and a commitment to excellence, so ensuring the security of client data has always been of utmost importance to LoanSifter,” said LoanSifter President Bruce Backer. “The results of the SSAE-16 Type II examination validate the stringent controls and safeguards employed by LoanSifter to ensure the integrity of our data and processes across our platform. At a time when trust is at a premium in the mortgage industry, our users can have confidence that their data – and their borrower’s data – is safe with us.”

****A Type II examination – the type that LoanSifter received – determines whether a company’s policies and procedures were effective during the examination period. It is more demanding than a Type I examination, which only involves the examiner’s opinion on a company’s controls.

****LoanSifter received an unqualified report on the criteria described in its assertion statement, with no exceptions for any tested controls, demonstrating the company’s commitment to the highest standards of operational excellence for its SaaS-based mortgage platform.