Effective immediately, lenders detecting a cybersecurity intrusion in FHA-insured mortgage programs must notify HUD within 12 hours as per ML 2024-10.
HUD will work with lenders upon notification to determine mitigation steps based on the incident's nature, ensuring compliance with FHA requirements.
The ML outlines the definition of a significant cybersecurity incident and specifies detailed information required in the report to HUD, to be included immediately by lenders.
Cybersecurity incidents, like ransomware attacks, have escalated globally, prompting the need for swift action and reporting mechanisms in various industries, including mortgage companies.
Collection
[
|
...
]