The lender will offer 24 months of free identity protection and credit monitoring services from Experian to the 16.9 million consumers affected by January’s cyber attack.
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Mortgage giant LoanDepot said hackers gained access to sensitive personal information of nearly 17 million people last month, including email addresses, financial account numbers, Social Security numbers, phone numbers and birth dates.
LoanDepot is offering 24 months of free identity protection and credit monitoring services from Experian to users affected by the January cyberattack, for which ransomware group ALPHV/Blackcat claimed responsibility on February 16.
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Loan Warehouse in Irvine, CA disclosed to investors The company on Tuesday expected to incur $12 million to $17 million in charges related to the cyberattack in the first quarter and was named as a defendant in several lawsuits, which it did not expect to have a material impact on its results.
LoanDepot previously revealed that as many as 16.6 million customers may have been affected by the cyberattack. A Filing on February 23 Maine regulators put the number of people affected at 16.9 million and provided more details that had not been previously disclosed.
LoanDepot’s attorney told the Maine Attorney General’s Office that the data breach occurred on January 3, LoanDepot discovered it the next day, and continued through January 5.
LoanDepot did not publicly disclose the leak until January 8, reporting Network event update page On January 22, the company was still working to restore its loan origination and loan servicing systems. A loanDepot spokesperson told Inman that the company’s systems were fully restored later that week.
in a Notice on February 23 For consumers, loanDepot said the incident “may have affected your name, address, email address, financial account numbers, Social Security number, phone number and date of birth.”
“While we currently have no evidence that your information has been misused for identification or fraud as a result of this incident, to help protect your identity we will provide you with 24 months of identity protection services and credit from a leading identity monitoring agency. Monitoring service company Experian is free,” the notice said.
LoanDepot, which has more than 4,500 employees, originated nearly $24 billion in home loans in the 12 months ended Sept. 30 and collects monthly mortgage payments from 490,000 borrowers who owe $144 billion in mortgage debt. In Q1 2023, loanDepot transitioned its service portfolio to an in-house platform to reduce service fees.
FBI accuses ALPHV/black cat and its affiliates compromised more than 1,000 businesses and government entities, extorting nearly $300 million in ransom. Real estate industry companies hit by similar security breaches include Fidelity National Financial and First American Financial, two of the largest title insurance companies in the United States, as well as mortgage servicing giant Mr. Cooper.
In the latest incident, ALPHV/Blackcat has been blamed for a breach that left pharmacies struggling to fill many prescriptions over the past week, Reuters reports on Monday.
The FBI has developed a Decryption tool The U.S. State Department announced a reward of up to $15 million on February 15 aimed at stopping the group and said the group was offering victims services to help restore their systems, which had saved dozens of victims from a total of about 9,900 A ransom demand of $10,000.
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