Bankrupt lenders throwing away your privacy

[Amerigo Vespucci]

Source: MSNBC

As recently as August, First Magnus Financial Corp. was the subject of a magazine feature hailing it as a “technological powerhouse” ready for the future thanks to its “tech-savvy management team.”

Just two weeks later, First Magnus, one of the nation’s largest mortgage lenders, whose headquarters was one of the biggest employers in Tucson, Ariz., was out of business, another victim of the disintegration of the U.S. mortgage industry.

Among the revelations about Magnus was that it wasn’t quite as technologically advanced as had been billed. Most of its borrowers’ records were still on paper, as Floridians learned when thousands of loan documents were discovered in boxes in an unlocked trash Dumpster in Fort Lauderdale.

The documents included borrowers’ Social Security and credit card numbers and all the rest of the sensitive personal and financial information that Americans turn over when they seek a home loan.

Read more: http://www.msnbc.msn.com/id/23505497/

[Amonester]

1. Nothing to see here. Go shopping.

"me 'n my republicon homelanders R the only ones who have the experience it takes to protect the 'murkin people, smirk, smirk"

[TransitJohn]

2. That's seriously messed up.

Bastards.