Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybercrime

Mortgage Giant Mr. Cooper Shuts Down Systems Following Cyberattack

Mr. Cooper suspends operations, including payments, after a cyberattack forced it to take systems offline.

Mortgage giant Mr. Cooper on Thursday announced that it has shut down certain systems after falling victim to a cyberattack, which resulted in its operations being suspended.

The attack occurred on October 31 and prompted an immediate response, including containment measures that involved taking down some systems.

“Mr. Cooper Group determined on October 31, 2023 that the company experienced a cybersecurity incident in which an unauthorized third party gained access to certain technology systems,” the company said, responding to a SecurityWeek inquiry.

“We value our customers and take their data privacy very seriously, and we have launched an investigation with assistance from leading cybersecurity experts and notified law enforcement,” the company said.

The shutdown, the company says in an incident notice on its website, prevents it from processing customer payments temporarily, but such operations will resume as soon as systems are restored.

“If you use ACH, your payment will be processed as soon as our systems are operational and you will receive a notification. You do not need to do anything. If you use any other method of payment, you will be able to do so as soon as we resolve this issue,” the company notes.

Mr. Cooper says it is currently investigating the potential compromise of customer data, and that it will notify all those whose data might have been impacted by the attack.

Mr. Cooper told SecurityWeek that it has already warned customers via email, website, social media posts, and its automated phone system of the incident, and that it will provide regular updates as the investigation into the matter advances.

“Customers who have tried or need to make payments will not incur fees, penalties or negative credit reporting as we work to resolve this issue,” the company also said.

Advertisement. Scroll to continue reading.

Customers are advised to use Mr. Cooper’s text messaging platform for communication with their loan team.

The company has not provided details on the type of cyberattack it fell victim to, but taking systems offline is the typical response to a ransomware attack.

Headquartered in the Dallas, Texas, area, Mr. Cooper is one of the largest mortgage servicers in the US, with approximately 4.3 million customers.

Related: Clorox Blames Damaging Cyberattack for Product Shortage

Related: Healthcare Organizations Hit by Cyberattacks Last Year Reported Big Impact, Costs

Related: Australian Energy Software Firm Energy One Hit by Cyberattack

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

People on the Move

HackerOne CEO Marten Mickos announced that he will be retiring from the company after nine years.

Lou Serlenga has joined Bitsight as Chief Revenue Officer (CRO), following leadership roles at Tenable, Nile, and HPE.

Bitsight announced that Rob Dinning has been appointed Chief Legal Officer.

More People On The Move

Expert Insights

Related Content

Cybercrime

A recently disclosed vBulletin vulnerability, which had a zero-day status for roughly two days last week, was exploited in a hacker attack targeting the...

Cybercrime

The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.

Cybercrime

As it evolves, web3 will contain and increase all the security issues of web2 – and perhaps add a few more.

Cybercrime

Luxury retailer Neiman Marcus Group informed some customers last week that their online accounts had been breached by hackers.

Cybercrime

Zendesk is informing customers about a data breach that started with an SMS phishing campaign targeting the company’s employees.

Cybercrime

Patch Tuesday: Microsoft calls attention to a series of zero-day remote code execution attacks hitting its Office productivity suite.

Artificial Intelligence

The release of OpenAI’s ChatGPT in late 2022 has demonstrated the potential of AI for both good and bad.

Cybercrime

Satellite TV giant Dish Network confirmed that a recent outage was the result of a cyberattack and admitted that data was stolen.