Mr Cooper Data Breach Investigation
The Lyon Firm is investigating an alleged cyberattack confirmed by Mr Cooper that caused the mortgage lender to abruptly shut down its systems. The October 31 attack is being investigated, and more details will soon emerge.
Contact our privacy lawyers if you have been impacted by this data breach. We represent data theft victims and file class action claims on behalf of plaintiffs nationwide. With cybercrime on the rise, it is more important than ever to protect your personal privacy.
What Happened at Mr Cooper?
The mortgage lender announced that it shut down certain systems after an apparent cyberattack, which resulted in the suspension of some crucial operations. Mr. Cooper (previously Nationstar Mortgage LLC) is a mortgage lender operating out of Dallas, Texas. They have over 4 million customers, servicing loans of $937 billion.
The company confirmed an IT incident with a notice on Mr. Cooper’s website, stating: “We are experiencing a system/technical outage, and we hope to resolve this soon.”
It’s been determined that a cybersecurity incident was caused by an unauthorized third party gaining access to certain IT systems. The shutdown prevented Cooper from processing customer payments temporarily, but said operations would resume as soon as the systems were restored.
A lot is currently unknown. Mr Cooper says it is investigating the potential compromise of customer data, and that it will notify all those whose sensitive personal and financial data might have been impacted.
Mr. Cooper told reporters that it had quickly alerted customers via email, website, social media posts, and its automated phone system of the incident, and that it will provide security updates as they materialize.
Nothing has been concluded about the attack, but experts say taking systems offline in this manner is a typical response to a ransomware attack. Mr Cooper has not yet disclosed whether or not this is a ransomware attack. If it was, then it is likely that a range of customer data was stolen. The company stores sensitive information about customers, including financial information.
If you have been impacted by the Mr Cooper cyberattack, contact our legal team to learn more about how to protect yourself from fraud and identity theft, and to discuss possible legal action. Our data breach lawyers are currently working on numerous ransomware and data theft cases, and represent plaintiffs in all fifty states. File a claim to seek compensation and to hold any negligent party accountable for your losses.