LendingTree Accuses Former Employees Of Stealing Customer Info

LendingTree has informed its customers that former employees hacked their system and stole customer information from 2006 to 2008. According to the letter sent to LendingTree customers, former employees shared confidential passwords with other lenders, who used the passwords to access LendingTree's customer loan request forms. These forms included personal data such as names, addresses, Social Security numbers, income & employment information. But not to worry, LendingTree says lenders did not use the information to commit identity theft or fraud. The information was only used to market their own mortgage loans to those customers. That makes everyone feel better, right?

Though LendingTree shares personal information with other companies to help consumers find a mortgage company with the best rate, in this case loan applications were viewed by unauthorized lenders who used the information to market their own loan products.