LoanDepot Ransomware Attack Causes Second Week Of Outage For Customers


Customers of LoanDepot are facing ongoing challenges as the company continues to grapple with the aftermath of a suspected ransomware attack. The incident, which occurred last week, has left many customers unable to make mortgage payments or access their online accounts.

Key Takeaway

LoanDepot customers continue to face challenges in accessing their accounts and making payments following a suspected ransomware attack. The company’s ongoing efforts to restore operations and address customer concerns are essential in mitigating the impact of the cyber incident.

Customers Struggle to Access Accounts and Make Payments

Following the security incident, LoanDepot assured customers that it was working diligently to restore normal business operations. However, users have reported difficulties in accessing their account information and submitting payments. Some customers have even experienced disruptions in closing deals, while others have resorted to seeking assistance through phone support.

Partial Restoration of Customer Portals

Although LoanDepot has made progress in bringing some customer portals back online, the functionality remains limited. This has added to the frustration and inconvenience experienced by customers who rely on these platforms for managing their mortgage and loan-related activities.

Company’s Response and Regulatory Update

LoanDepot’s spokesperson, Jonathan Fine, declined to provide specific details when contacted via email. While not confirming the ransomware link, Fine did not dispute the connection. The company has not disclosed whether a ransom demand was made or the extent of the compromised customer data. Additionally, LoanDepot has not provided further updates to regulators since its initial disclosure to the SEC on January 8.

Millions of Customers Impacted

With millions of customers relying on LoanDepot’s services, the impact of the ongoing outage and security incident is significant. The company’s efforts to fully restore operations and address the concerns of affected customers are crucial in mitigating the repercussions of this cyber incident.

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