Unauthorized Access: Countrywide Ex-Employee Could Have Sold Mortgage Data

September 10, 2008

In America’s slumping economy the last thing that is needed is another wrench thrown into the housing market or mortgage crises causing even further issues among homeowners who have to pay a mortgage each month. Recently it was reported that a former employee of Countrywide may have sold off mortgage data to a 3rd party.

Included within the mortgage data that was possibly sold off is very sensitive and personal information that may disclose customer’s names, addresses, mortgage loan numbers, social security numbers and other various loan applicant information. With this type of information in the wrong hands it could result in identity theft. Since the incident the company says it will take the necessary precautions to monitor the accounts of affected customers.

In a situation like this not much work is required on the part of hackers or thieves in obtaining stolen data that could have been sold off to anyone including a hacker. Once the information is in the wrong hands then the possibilities are virtually endless. The persons that have your mortgage data could perform malicious acts against you that you are held legally liable for. In this situation it can be said that you must take necessary steps to protect your interest even if your mortgage data was not compromised.

Protect Yourself Now!

You should take steps to protect your personal information regardless of situations like this. This situation could not be controlled by you as a customer or mortgage loan holder however, you can take steps to monitor your credit or persona account activity through monitory services provided by many reputable companies. In addition to utilizing anti-spyware or anti-virus software it is essential to have a line of defense when it comes to situations that are uncontrollable or out of your hands by using a credit monitory service which is a step in the right direction to help prevent identity theft.

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