Security

LoanDepot outage drags into second week after ransomware attack

LoanDepot customers say they have been unable to make mortgage payments or access their online accounts following a suspected ransomware attack on the company last week.

The mortgage and loan giant said on January 8 that it was working to “restore normal business operations as quickly as possible” following a security incident that involved the “encryption of data,” a common hallmark of a ransomware attack.

Users on social media and forums discussing the incident say they have struggled to access their account information or submit payments. Some say they have been unable to close deals during the ongoing disruption at LoanDepot, while others had better luck on the phone with the company.

LoanDepot’s updating cyber incident page says several LoanDepot customer portals returned online as of Thursday, albeit with limited functionality.

When reached by email, LoanDepot spokesperson Jonathan Fine declined to comment, but did not dispute that the incident was linked to ransomware. Fine would not say if the company was aware of a ransom demand, or say if the company yet knows what kind of customer data was compromised.

LoanDepot has not yet updated regulators on the company’s recovery since its initial disclosure to the SEC on January 8.

According to its website, LoanDepot has millions of customers.

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Courtesy by: TechCrunch

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