The Nation's Housing: Mortgage experts sound alarm at massive identity theft, data breaches by NewsOK

Downward pressure is being applied to home prices, however because new home starts have been at historically low levels prices may push higher. When new construction picks up in class B apartments in 2015 we may see a stabilizing effect. FHA buyers may take longer to get an approval in 2014.

Eugene Hoffman

The Nation's Housing: Mortgage experts sound alarm at massive identity theft, data breaches

  The numbers of affected consumers are as yet impossible to predict, but mortgage credit experts warn that the recent massive data breaches at Target, Neiman Marcus and other retailers could have significant side impacts on some real estate transactions in the coming months, as damaged credit files depress scores and jeopardize loan applications and home sales.
The Target breach alone could touch as many as 70 million credit and debit card customers, according to the company. Neiman Marcus said that data on 1.1 million of its customers may be vulnerable to fraud. Data security researchers report that at least six other merchants have experienced data breaches from point-of-sale malware similar to what was used in the Target thefts.

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