Countrywide Mortage issues warning to mortage holders

If you have a home mortgage or loan with Countrywide Financial Corporation there is a warning.

The California based company is dealing with a problem that's affected at least two million customers. Now letters are being mailed out telling people to be on alert.

Mike Schooler has had a home mortgage with Countrywide Financial Corporation for three years now.  However, He was not prepared for the letter he recently got from the company warning him to beware.
 
A former Countrywide employee was arrested last month and charged with stealing and selling Schooler's personal information.

"It's a little scary.  They got my mortgage information and once they know that and your social security number, there is no privacy left," Schooler said.

Countrywide home loans is now offering two years of free credit monitoring to customers who have received a letter. 
The company is telling customers to sign up online for the service.

"It won't help the credit reputation because all they can do is tell you if there is activity going on.  They won't do anything about it," Schooler said.

Countrywide issued a statement saying quote "We cannot comment further on the investigation at this time.  We have no further evidence to date to indicate that any customer has been the victim of identity theft or fraud."

"I think businesses have to go a step further and add technology that will allow them to monitor their employees and what their employees are doing on the web, monitor email, have secure servers," real estate investor Ryan Hinricher said.

And some real estate investors like Hinricher said that is the only way customers like Schooler will have the added security or peace of mind they deserve.

Click here to e-mail Jamel Major.