Technology

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 move follows Freddie Mac's expanded use of bank account data and brings to full fruition an effort both enterprises have been engaged in since 2017.

Argyle, which helps lenders verify income and employment data, completed a $30 million funding round led by a Rockefeller Capital Management innovation fund, bringing its funding since the firm's formation to more than $100 million.

The government mortgage-backed securities guarantor needs data breaches reported within a certain period of time and has specific instructions for subservicers.

The root cause of the hack affecting over 5 million customers was an employee clicking on a link in a work-related search result, according to public case documents.

The Consumer Financial Protection Bureau provided guidance about digital intermediaries and lead generators that accept payments to steer borrowers to financial products.

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

The automated notices related to potential defects may be helpful because they flag issues earlier, according to the Community Home Lenders of America.

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