Mortgage giant Mr. Cooper hit by cyberattack, customers unable to pay loans
A major mortgage lender in the United States, Mr. Cooper, has fallen victim to a serious cyberattack, causing the company to shut down some of its systems and endpoints. As a result, customers were unable to make payments on their mortgages or loans.
The attack was discovered on October 31, and Mr. Cooper took immediate action to secure customer data, locking down some systems which remain inaccessible. While the company did not confirm it was a ransomware attack, the necessity to shut down systems typically points to that threat. Mr. Cooper is investigating whether any data has been compromised.
Customers have been notified of the incident, and they are warned to be cautious when receiving any communication claiming to be from a Mr. Cooper employee. Concerns have arisen about potential penalties for late payments, but Mr. Cooper assures customers that they will not incur fees, penalties, or negative credit reporting due to late payments as the company works to address the issue.
At present, Mr. Cooper’s services are offline, preventing customers from meeting their obligations, with no alternative payment processing available. The company advises customers using ACH that their payment will be processed once systems are operational, and they will receive notification when this occurs.
With more than four million customers and servicing loans of $937 billion, Mr. Cooper, formerly known as Nationstar Mortgage LLC, employs 9,000 people.
