The breach was first discovered on October 31, when Mr. Cooper informed customers of an outage. Investigations revealed that the outage was due to a cybersecurity incident. Despite the breach, Mr. Cooper assures customers that loan terms, rates, and fees will remain unaffected, and no late fees or penalties will be imposed due to the cyber incident.
Key takeaways:
- Mr. Cooper, a mortgage and lending company, confirmed a data breach that affected over 14.6 million consumers, including names, addresses, dates of birth, phone numbers, Social Security numbers, and bank account information.
- The breach was initially discovered on October 31, when Mr. Cooper informed customers of systems being offline due to an outage, which was later linked to a cybersecurity incident.
- The company now estimates the cyberattack cost at least $25 million, up from $5 to $10 million, due to two years of identity protection services for current and previous clients.
- Customers are advised to monitor financial accounts and credit reports for suspicious activities, update passwords regularly, and avoid using the same password across multiple accounts.