LoanDepot Hacked: US’ second largest non-bank mortgage lender hit by cyberattack

LoanDepot, the second-largest nonbank mortgage lender in the United States, has become the latest victim of a cyberattack. The California-based company confirmed on Monday that an unauthorized third party successfully breached some of its crucial systems.

In a Form 8-K filing submitted to the Securities and Exchange Commission (SEC), LoanDepot said that “it recently identified a cybersecurity incident affecting certain of the Company’s systems.”

“loanDepot, Inc. (the “Company”) recently identified a cybersecurity incident affecting certain of the Company’s systems. Upon detecting unauthorized activity, the Company promptly took steps to contain and respond to the incident, including launching an investigation with assistance from leading cybersecurity experts, and began the process of notifying applicable regulators and law enforcement.

LoanDepot stated that upon discovering the cyber incident, it promptly took action to contain it. The company temporarily shut down specific systems to implement security measures, restore business operations, and address a recent ransomware attack. The unauthorized access by a third party involved certain company systems and data encryption, with the full extent of its impact yet to be determined.

Though our investigation is ongoing, at this time, the Company has determined that the unauthorized third party activity included access to certain Company systems and the encryption of data. In response, the Company shut down certain systems and continues to implement measures to secure its business operations, bring systems back online and respond to the incident.

Furthermore, LoanDepot mentioned initiating an investigation into the incident and has begun notifying regulators and law enforcement authorities. The filing with the SEC, however, doesn’t offer any specifics regarding whether personal information was compromised in the course of the attack.

“The company will continue to assess the impact of the incident and whether the incident may have a material impact on the company,” LoanDepot added.