loanDepot
Data Breach Class Action Lawsuit
February 24, 2024 -- Attention: victims of the loanDepot data breach.
Abington Cole + Ellery is investigating the recently announced loanDepot data breach.
Around January 4, 2024, loanDepot detected a possible security issue within its systems. Immediately, the company undertook measures to secure the breach, address the problem, notify the authorities, and initiate a thorough investigation.
To understand the extent of the data access and enhance system security, loanDepot collaborated with external cybersecurity and forensic experts.
The investigation revealed that from January 3 to January 5, 2024, an unauthorized individual managed to infiltrate loanDepot systems, accessing certain private information. In response, loanDepot quickly implemented containment and remediation actions, informed law enforcement, and began a detailed examination of the breach.
As a result of the data breach, loanDepot is offering 24 months of free credit monitoring and/or identity theft protection services to affected individuals.
Approximately 16,924,000 individuals were affected by the loanDepot data breach.
Breached data may include, but is not necessarily limited to: names, addresses, email addresses, financial account data, social security numbers, phone numbers, and dates of birth.
Additional information about the loanDepot data breach may be found here: loanDepot Cyber Incident Update, and here: loanDepot Data Breach Notification.
Established in 2010, loanDepot stands out as an innovative non-bank retail mortgage lender in the United States. Based in Lake Forest, California, the company has rapidly expanded its reach and services. loanDepot is dedicated to simplifying the mortgage process for its customers by leveraging its proprietary mello technology platform, which facilitates a comprehensive digital mortgage experience through the mello smartloan, designed to efficiently process loan transactions.
The company's diverse loan offerings are tailored to meet a wide array of customer needs, encompassing conventional agency-conforming loans, prime jumbo loans, Federal Housing Administration (FHA) and Veterans Affairs (VA) loans, and home equity loans.
Beyond its financial services, loanDepot demonstrates a strong commitment to community support, contributing millions in donations and volunteer efforts to various charitable causes nationwide, including significant support for those affected by the COVID-19 pandemic.
With a servicing portfolio exceeding $142.5 billion and a presence in over 121 locations, loanDepot navigates the challenges of the mortgage lending industry with a focus on innovation, customer satisfaction, and community involvement. Despite facing financial headwinds, as evidenced by its Q3, 2023 financials, and a strategic workforce adjustment in 2022, the company's market capitalization remained robust at $797 million as of February 2024.
The loanDepot Website may have additional information about or provide periodic updates regarding the data breach.
For more information about steps you can take to possibly reduce the chances harm arising from a data breach, please review the following article: What are some steps you can take if you've been the victim of a data breach?
If you believe you are a victim of the loanDepot data breach, and would like to participate in a class action lawsuit regarding this data breach, please submit your information via the form on this webpage. This website is not associated with nor authorized by loanDepot or any affiliated companies.