Taking the Bait

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Th e M Rep o RT | 7 Hackers can grab that data and re- construct information about users or keys that would allow them to monitor past or future encrypted traffic," according to a report by the Wall Street Journal. The Journal article commented on possible actions for consum- ers: "If you need strong anonym- ity or privacy," Roger Dingledine, president of the Tor Project, a web service used to obscure Internet users' identity, wrote in a blog post, "you might want to stay away from the Internet entirely for the next few days while things settle." The FDIC urges financial institutions to "ensure that their information security staff are aware of and subscribe to reli- able and recognized resources that can help quickly identify cyber risks as they emerge." Specifically, the FDIC recommends United States Computer Emergency Readiness Team (US-CERT), U.S. Secret Service Electronic Crimes Task Force (ECTF), FBI InfraGard, Regional Coalitions, and the Information Sharing and Analysis Centers (ISACs) Since the attack, hundreds have been linked to the heart- blead attack The Pros and Cons of San Francisco's Tech Boom Silicon Valley'S book haS benefitS and detrimentS to the induStry. A booming tech sector and overall job and income growth have helped fuel a real estate boom in San Fran- cisco, California, according to a recent special commentary from the Wells Fargo Economics Group. The group found that the city's perennially tight housing market has gotten even tighter, pushing rents and home prices up. One emerging trend is the increased numbers of younger tech workers living and working around downtown San Francisco. The group comments that major tech companies—Twitter, Dropbox, Square, Trulia, and Salesforce. com—are setting up shop in downtown San Francisco. A wave of new office construction for the recently relocated tech giants has set off a wave of accompanying apartment development. The group notes that jobs in the tech sector increased 6.9 percent in the last year alone. By comparison, the financial and legal sectors in San Francisco have declined 0.7 percent in the same time. The area's unemployment rate has also fallen, down to 6.4 percent, its lowest level in almost six years. Due to the increase in employ- ment in and around the Bay Area, the supply of homes and apart- ments available for sale or rent remains exceptionally tight. San Francisco has a 2.8-month supply of homes on the market, down from four months a year ago. Although rising rents and tight inventories have led to a surge in new construction, the new sup- ply is barely able to keep pace with demand. "Multifamily permits, which include both apartments and condominiums, surged 30.4 percent in Santa Clara County during 2013 and have eclipsed previous highs for this market," the group said. Single-family home building is rebounding, but only "slowly and off exceptionally low levels." Concerns over the rapid expan- sion of the tech industry are rising to the surface, as lower-income residents are feeling the effects from higher costs of living. The group cautiously noted, "There is little doubt that San Francisco's near-term economic fortunes ride with prospects for the tech sector, which has directly accounted for 25.3 percent of the jobs created in San Francisco over the past year and more than 32.1 percent of job growth in Silicon Valley." The group is careful to note that while concerns over the Bay Area's economy becoming an- other dot-com crash are possible, "traditional valuation measures are much different than they were during the run-up during the tech bubble in the late 1990s." The group cited a lower price/ earnings ratio of the NASDAQ, as well as the diversification of tech firms as signs of more stable growth for the economy, and thus, housing. LoanLogics Launches LoanHD AppQ Network PennSylVania comPany launcheS a network to addreSS Vendor needS. I n Fort Washington, Pennsylvania, LoanLogics introduced its newly launched LoanHD AppQ Network, a service designed to provide users with service ordering and delivery interfaces to third-party providers all through the company's single- source LoanHD solution. "The LoanLogics LoanHD AppQ Network was devel- oped to ensure that lenders and service providers can more easily leverage an ecosystem of services through the LoanHD platform," explained Brian K. Fitzpatrick, president and CEO of LoanLogics. "We want to pro- vide clients access to additional service applications that create efficiency, reduce error, and en- able them to enhance their loan quality management practices to drive to a zero defect rate." With the industry facing new layers of regulatory scrutiny, the company says the need to improve quality management practices and analytics is greater than ever before—which is exactly what its products seek to address. As of now, current network members include TransUnion, Andrew Davidson & Co., Veros, Platinum Data Solutions, ComplianceEase, DataQuick, and IXI Services. LoanLogics says it is also working with Milliman, MasterServ, and other service providers to continue expanding. "We serve clients from small to large with varying degrees of complexity and needs. After surveying our clients, we designed a network to offer a variety of services that directly address the needs of our clients," said Terese Campbell, LoanLogics' SVP of product management. "Our goal is to continue to expand the network as our clients' needs evolve, while maintaining streamlined vendor management." on the web

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