Other companies in the mortgage industry are also reeling from cybersecurity incidents.
Nation's Direct Mortgage, a Nevada-based wholesale lender that sells to Fannie Mae, Freddie Mac and Ginnie Mae, recently disclosed a data breach to the Attorney General's Office, Housing Wire reported. The incident, which was only reported to authorities last week, took place towards the end of 2023.
Nations Direct said names, addresses, social security numbers and loan numbers may have been compromised by a third party. Over 83,000 customers may have been affected by this breach.
As soon as the company became aware of the data breach, it initiated an investigation and containment measures. The incident was quickly contained. Victims were notified late last month.
Through Kroll, Nations Direct is offering 24 months of free identity monitoring services to victims, including credit monitoring, $1 million in identity fraud loss compensation, fraud counseling, and identity theft recovery. I promised.
Founded in 2007, the company provides government mortgages, conventional mortgages, and nonconforming mortgages. In his first 11 months last year, Nations Direct disbursed his $1.4 billion in loans.
Earlier this year, top mortgage lender LoanDepot fell victim to a cyberattack that compromised the data of more than 16 million customers. Some of the company's systems went offline, leaving customers struggling to open accounts and complete mortgage transactions.
LoanDepot has promised free credit monitoring and privacy services to those affected.
In the fall of 2023, Cooper suffered a major cyberattack that forced the company to temporarily shut down key systems and left customers unable to pay their mortgages and loans. The incident affected more than 14 million customers and cost the company $25 million in revenue.
Other companies recently killed in cybersecurity incidents include Florida-based title company Fidelity National Financial and Santa Ana-based First American Financial.
— holden walter warner