Snapdocs, Inc., a technology platform simplifying mortgage loan closings, successfully completed the Service Organization Control (SOC) 2 Type 1 audit. Launched by the American Institute of Certified Public Accountants (AICPA), the SOC report certifies the service delivery processes and controls of organizations that operate information systems and deliver information system services to other entities.
“SOC 2 compliance speaks volumes in the highly regulated mortgage industry, which is becoming ever more dependent on cloud service providers,” Snapdocs CEO Aaron King said in a news release. “Snapdocs is proud to be transparent and undergo a rigorous examination of our airtight information security policies and procedures to build trust with our customers.”
Conducted by A-LIGN, a nationwide security and compliance solutions provider, the SOC 2 audit verifies that Snapdocs’ information security policies, practices, procedures and operations meet the SOC 2 standards for:
(i) Security – The system is protected against unauthorized access (both physical and logical);
(ii) Availability – The system is available for operation and use as committed or agreed;
(iii) Processing integrity – System processing is complete, accurate, timely and authorized;
(iv) Confidentiality – Information designated as confidential is protected as committed or agreed;
(v) Privacy – Personal information is collected, used, retained, disclosed and disposed of in conformity with the commitments in the entity’s privacy notice, and with criteria set forth in Generally Accepted Privacy Principles (GAPP) issued by the AICPA and Canadian Institute of Chartered Accountants.
“As the mortgage industry increasingly turns to outside technology providers to streamline activities that are core to business operations and strategy, having confidence in cloud service providers’ operations, processes and results is imperative,” King said.