Top-15 U.S. mortgage lender loanDepot confirmed Monday morning that it is the industry’s latest cyberattack victim. The incident has brought loanDepot’s systems down.
The California-based lender, which originated about $17 billion in mortgage loans from January to September 2023, said it launched an investigation with the support of cybersecurity experts and began notifying regulators after identifying an incident affecting certain of its systems and the encryption of data.
“The company shut down certain systems and continues to implement measures to secure its business operations, bring systems back online and respond to the incident,” loanDepot said in an 8k filing with the Securities and Exchange Commission (SEC).
The document mentions the date of earliest event reported as Jan. 4, 2023. The company added that it will continue to assess the impact of the incident.
Customers faced difficulties accessing systems during the weekend, according to social media posts. loanDepot’s servicing portfolio reached about $144 billion as of Sept. 30, 2023.
On its servicing website, the company notes to customers that “recurring automatic payments are processing as expected.” Still, there may be a temporary delay in viewing the posted payment in customers’ payment history. It directs customers to make payments by phone or mail.
“We are working diligently to return to normal business operations as soon as possible,” it says.
A spokesperson for loanDepot declined to comment and directed HousingWire to the SEC filing.
Several big companies in the mortgage space have become targets of cyberattacks in recent months.
In late November, Fidelity National Financial suffered a ransomware attack that took its systems offline for a few days, claimed by the gang AlphV/BlackCat. Teneika Tillis filed a class action lawsuit against Fidelity and its subservicer Loancare, alleging they were negligent with customer data.
In December, Fidelity National Financial (FNF) faced a cyberattack that affected its services, including title insurance, escrow, mortgage transactions and technology for the real estate and mortgage industries.