Email is insecure and borrowers know it. Most email is transmitted unencrypted, allowing hackers with access to any point between sender and receiver to steal email. Hackers especially love open WiFi networks.
Borrowers don’t want the most private details about their lives to be seen by others or captured by identity thieves. Very understandingly, they prefer not to email you their financial documents.
But email them they do, because they want the loan.
Because They Want The Loan
That’s right. Borrowers want the loan bad enough that they hope their paystubs will be lost in the cloud of 140 billion emails sent every day. However, they’re still cognizant of the risks involved and perhaps frustrated at the lack of secure options you’ve given them.
In my next blog post, we’ll delve into options for showing your borrowers that you truly care about their security and privacy.