Mr. Cooper Cybersecurity Breach, Here is What Customers Should Know

Mr. Cooper, a major player in the mortgage and loan industry, has recently confirmed that some of its customer data was leaked due to a cyberattack.

The company, which serves over four million customers, is still in the process of investigating the extent of the data exposure. As of now, the details of the attack and the specific data affected remain unclear.

The company has clarified that it does not hold banking information related to mortgage payments on its systems. This information is managed by a third-party provider, which, according to Mr. Cooper, was not impacted by the incident.

Customers affected by the breach will receive notices by mail in the upcoming weeks. This announcement comes as Mr. Cooper continues to deal with system outages that began on October 31st, when the cyberattack was first detected.

In response, the company promptly shut down its systems to contain the attack. This has led to several customers reporting issues with accessing their accounts.

In a financial context, Mr. Cooper has informed the U.S. Securities and Exchange Commission that it may face up to $10 million in additional costs due to vendor services in the fourth quarter. The company does not foresee any significant long-term effects on its business operations.

Requests for further comments from Mr. Cooper were redirected to a third-party PR firm, which restated the company’s public announcement but did not provide detailed responses to specific inquiries.

Mr. Cooper’s Chief Information Security Officer, Scot Miller, was not made available for an interview when requested.