In mortgages and real estate, Abhinav Asthana, Head of Product Tavantsaid most of his customers not only rely on Microsoft systems; Amazon, Google or their own private cloud system, which reduces their risk of outage.
The same goes for Tavant itself. Asthana said only a small portion of the tech company’s employees rely on Windows systems and the impact is not significant because they have virtual workspaces.
“This means that if you can’t get a Windows computer, you can immediately get a replacement computer and have virtual workstations give you access to the same library where you can get your work done,” Asthana said. “Now, obviously, this is a little bit different than an airline, where their entire reservation system is on an Azure server.”
Asthana said Tavant is still “trying to fix the issues with Windows machines” while taking labor away from Windows machines. “We can’t let people log into a workspace without endpoint protection. That’s important to us,” he said.
On stage, Alisande Heriyanto, Vice President of Product and Technical Support Cochrane GroupAdding that Friday’s episode shows “we shouldn’t put our eggs in the same basket when it comes to any particular technology.”
Build vs. Buy
Several mortgage companies said they rely on internal technology to control their processes and make their operations less vulnerable to external issues. this is the case United Wholesale Mortgage Company (University of Hawaii).
“I’m all for the build rather than buy mentality. Not everyone can do that. But I agree with it mostly because I’m a control freak,” UWM Chief Technology Officer Jason Bressler said onstage. “Ultimately, many of us want to be in control of our own destiny. We don’t want to be dependent on others.
“We are short of people [at this conference] This is because of CrowdStrike problem. That was a very eye-opening experience. All kinds of companies are still suffering from this,” Bressler added. “We were affected exactly the same way because we were using Microsoft as the backend for our infrastructure. But we were able to recover within a few hours because everything was on-premises.
Chris Cox, Chief Technology and Digital Officer Keller WilliamsGoing forward, companies can use artificial intelligence to “predict and prevent” incidents like CrowdStrike outages, it said.
The CEO of a technology provider to the mortgage servicing industry who attended an artificial intelligence summit said his teams in the United States and India are still facing issues with Microsoft systems, four days after the issue disrupted different industries.
David Weston, Microsoft’s vice president of enterprise and operating system security, told customers in a statement on Saturday that the company is “working around the clock to provide ongoing updates and support.”
“While software updates may occasionally cause disruption, things like
CrowdStrike incidents are uncommon,” Weston wrote. “We currently estimate that updates to CrowdStrike impacted 8.5 million Windows devices, or less than 1% of all Windows machines. While the percentage is small, the widespread economic and social impact reflects the use of CrowdStrike by enterprises running many critical services.
In the mortgage industry, technological disruption has resulted in the disruption of certain core services, e.g. federal housing administration(FHA) Connect Portal, which provides FHA-approved lenders and business partners with secure online access to computer systems U.S. Department of Housing and Urban Development (heads-up display).
ICE Mortgage Technology It also confirmed that the incident affected its Encompass loan origination system, while National Multi-State Licensing System (NMLS) said it was “temporarily affected.” FHA, ICE and NMLS said their systems were restored on Friday.
