Mortgage Giant Mr. Cooper Shuts Down Systems Following Cyberattack

Mortgage Giant Mr. Cooper Shuts Down Systems Following Cyberattack

November 4, 2023 at 12:30PM

Mortgage company Mr. Cooper has temporarily suspended operations and shut down certain systems after experiencing a cyberattack on October 31. The attack prompted containment measures and an ongoing investigation into the unauthorized access to technology systems. Customer payments are currently not being processed, but will resume once systems are restored. The company has notified affected customers and will provide updates on the investigation.

During the meeting, it was discussed that Mr. Cooper, a mortgage giant, experienced a cyberattack on October 31, 2023. As a result, certain systems were shut down, temporarily suspending operations. The company has taken immediate action, including containment measures, to address the incident. They have launched an investigation with the help of cybersecurity experts and law enforcement. Mr. Cooper is also notifying customers whose data might have been impacted and has already informed them via email, website, social media, and automated phone system. The company has not disclosed the exact nature of the cyberattack but mentioned that taking systems offline is a common response to ransomware attacks. Customer payments are temporarily halted but will resume once systems are restored. Customers using ACH for payment will receive a notification when processing resumes, while those using other payment methods can proceed once the issue is resolved. Mr. Cooper assured customers that they will not face fees, penalties, or negative credit reporting during this period. Communication with the loan team is encouraged through Mr. Cooper’s text messaging platform. Headquartered in Dallas, Texas, Mr. Cooper serves approximately 4.3 million customers and is one of the largest mortgage servicers in the US.

– “Mortgage Giant Mr. Cooper Hit by Cyberattack, Shuts Down Systems” (SecurityWeek)
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