Cyber attacks

Loandepot and Mr. Cooper said they've spent tens of millions of dollars this year following recent, major hacks.

Mr. Cooper's PII leak late last year had a significant impact on its customers. Money has been stolen, unauthorized attempts to open credit cards occurred and extensive spam campaigns have followed, a filing claims.

Mortgage companies and third-parties they partner with represent potential prime targets for certain criminal schemes due to the frequent transfer of large sums of money, cybersecurity experts say.

The title insurance giant was one of several major mortgage players to suffer a hack late last year.

While the company made headway in reducing operational costs, it incurred several million dollars worth of expenses as it dealt with the January incident.

An unnamed hacker in December "potentially removed" sensitive consumer data including Social Security numbers from the wholesale lender.

The attack is one of three major incidents the lender has suffered in the past three years.

The mortgage lender said the hack was caused by a third-party's vulnerability.

The lender had previously revealed that personally identifying information from 16.6M customers had leaked, but hadn't offered these details.

At least six legal actions are currently pending against Planet Home Lending for failing to protect customer data in November 2023.