Was your LendingTree File Hacked?

MSNBC ^ | 22 Apr 2008 | Bob Sullivan

[BGHater]

LendingTree has told its customers that former employees helped unauthorized mortgage lenders hack into its systems and steal customer information from 2006 to 2008.

The incident reveals just how aggressive the mortgage loan business was during the height of the housing boom, and also raises fears for consumers who share their information with companies that help them shop around for the best deal. And it highlights what experts say is an often overlooked source of data theft -- the inside job.

According to a letter sent to customers recently, former LendingTree LLC employees shared "confidential passwords" with lenders, who in turn used the login information to "access LendingTree's customer loan request forms."

The forms contained critical personal data, including names, addresses, Social Security numbers, income and employment information. The company said the lenders did not use the information to commit identity theft or fraud, but simply to "market their own mortgage loans to ... customers."

In connection with the incident, LendingTree, based in Charlotte, N.C., has filed lawsuits against three small California-based home loan companies.

A LendingTree spokeswoman said the company was not granting interviews to discuss the data theft. She would not say how many customers were affected nor how much data was stolen, but instead supplied a copy of the customer letter sent by the firm.

[BGHater]

Joy.

[SpaceBar]

If the first statement of the story is factually correct, the people responsible should be going to prison.

[driftdiver]

“And it highlights what experts say is an often overlooked source of data theft — the inside job.”

often overlooked???? Its well known that most thefts are due to internal sources. 70-80%

Its called brokering and is illegal and they will go to jail if the cops are doing their jobs.