November 13, 2023 at 06:03AM
US mortgage giant Mr. Cooper experienced a cyberattack on October 31 that led to service disruptions. Hackers gained access to certain systems, preventing the company from processing customer payments. Customer data was compromised, prompting Mr. Cooper to notify affected individuals and offer complimentary credit monitoring services. Users are advised to monitor their financial accounts and passwords should be updated frequently and with increased complexity. Loan terms, rates, and fees will not be affected by the incident.
Meeting Takeaways:
1. Mr. Cooper, a US mortgage giant, recently experienced a cyberattack on October 31 that resulted in service disruptions and the compromise of customer data. Certain systems were shut down to prevent further access by hackers.
2. The company has restored its automated phone systems and website, allowing customers to access their accounts. However, full restoration of operations has not yet been achieved.
3. An investigation into the attack has revealed that customer data was compromised, though the specific information exposed has not been mentioned. Mr. Cooper plans to notify affected customers and provide them with complimentary credit monitoring services.
4. Personally identifiable information (PII), including Social Security numbers, is likely to have been compromised during the attack. User account details may also have been exposed.
5. Customers are advised to monitor their financial accounts and credit reports for any suspicious activity. They should also update their passwords regularly and use unique passwords for each personal account.
6. The incident will not impact loan terms, rates, or fees. Customers will not be charged late fees or penalties due to the attack.
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