To meet the growing demand, banks are faced with a choice of hiring, reskilling or outsourcing.

A class action said the company, which has suffered two breaches in the past year, also was responsible for a larger breach and “downplayed” the situation when it notified consumers.

Borrowers condemned the company's disclosures, which came six months after the incident and omitted details about the hack and subsequent investigation.

The federal class action lawsuit is at least the third similar action within the industry over a cyberattack revelation.

The newly revealed victims were affected by the previously disclosed cyberattack, which went undetected for 41 days between September and December.

The data breach, which occurred over a two-day period last December, is the largest disclosure by a mortgage lender this year.

In response to a raft of recent data breaches, mortgage lenders are implementing a number of measures to protect their clients and themselves.

The incident at the mortgage fintech occurred late last year as a spate of attacks rocked other housing lenders.

Pingora Loan Servicing still hasn’t disclosed the full scope of last fall’s hack impacting at least 169,000 customers across four states.

Several federal agencies have recently stepped up requirements on banks to notify regulators and the public when they fall victim to cybersecurity incidents.