Guardians of Finance: loanDepot Confronts Alleged Ransomware Offensive

Among the leading lenders in the United States, loanDepot has confirmed that the cyber incident it announced over the weekend was a ransomware attack that encrypted data. In the United States, LoanDepot is one of the biggest nonbank mortgage lenders. 

With over $140 billion in loan services and approximately 6,000 employees, this company is the largest nonbank loan broker. It was reported that customers were having issues when trying to access the loanDepot payment portal on Saturday, which prevented them from paying loans or contacting them. 

As a result of a cyberattack that disrupted the loan processing and telephone service of loanDepot, the U.S. retail mortgage lender is struggling to recover. A company filing on Monday with the Securities and Exchange Commission informed investors that data had been encrypted by a “third party” who broke into the company’s computer system by gaining access to it. 

As part of its efforts to contain the incident, certain unspecified systems had been shut down. A spokesperson for the Irvine, California-based firm said they had contacted law enforcement and were still determining the extent to which the attack could have an impact on their operation. 

According to BleepingComputer, this attack is the fifth-largest retail mortgage lender in the country and h

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