LoanDepot Ransomware Attack: Week-Long Outage Disrupts Mortgage Services
Ongoing System Disruptions Impact Customers
LoanDepot, one of America’s largest mortgage lenders, continues grappling with operational disruptions as a suspected ransomware attack enters its second week. Customers report being unable to:
- Access online accounts
- Make mortgage payments
- Complete real estate transactions
Timeline of the Cybersecurity Incident
The company first acknowledged the breach on January 8, describing it as a security incident involving “encryption of data” - a telltale sign of ransomware. While LoanDepot has restored some customer portals as of Thursday, functionality remains limited according to their cyber incident update page.
Customer Frustrations Mount
Social media and financial forums reveal growing concerns among LoanDepot’s millions of customers:
- Payment processing issues: Many cannot submit timely mortgage payments
- Transaction delays: Some homebuyers report being unable to close deals
- Communication challenges: Phone support appears more reliable than digital channels
Company Remains Tight-Lipped on Details
When contacted by TechCrunch, LoanDepot spokesperson Jonathan Fine:
- Declined to comment on whether this was a ransomware attack
- Would not confirm if a ransom demand was made
- Provided no update on potential data compromise
The lender has not filed additional disclosures with the SEC since its initial January 8 filing.
Broader Cybersecurity Context
This incident follows a troubling pattern of financial sector cyberattacks:
- Rising sophistication of ransomware groups
- Increased regulatory scrutiny (SEC recently tightened cybersecurity disclosure rules)
- Growing customer expectations for digital resilience
LoanDepot serves millions of customers nationwide, making this outage particularly impactful during peak homebuying season. The company has not provided an estimated timeline for full system restoration.
For more cybersecurity coverage, see TechCrunch’s recent reporting on major breaches affecting VF Corporation and Gaza’s internet outage.
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