Morning Minute: Can your social media activity affect your ability to get credit?

Could your status update on Facebook impact your ability to get a loan later? An article in the Wall Street Journal, “Borrowers Hit Social-Media Hurdles,” looks at a trend that could have consumers rethinking their online activity.

According to the article, more lenders are looking at a potential borrower’s activity on Facebook, LinkedIn, Twitter and other social media to determine their creditworthiness or to double check that the personal and job information you listed on your loan application matches what you have posted online.

The trend, which could grow, is drawing the attention of federal regulators. Read more in the Wall Street Journal article. What do you think of this trend?

 

 

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.