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LoanDepot Hit By Cybersecurity Attack

Involves 'unauthorized third party activity'

Irvine-based mortgage lender LoanDepot Inc. (NYSE: LDI) said it “identified a cybersecurity incident” that reportedly may have involved a ransomware attack.

“The company promptly took steps to contain and respond to the incident, including launching an investigation with assistance from leading cybersecurity experts, and began the process of notifying applicable regulators and law enforcement,” LoanDepot said in an SEC filing today.

The filing added: “The company has determined that the unauthorized third party activity included access to certain company systems and the encryption of data.”

Various news outlets, including TechCrunch and Bank Info Security, said the incident involved ransomware. That generally involves attackers seizing data and holding it until the victim company pays money to get the data back.

LoanDepot closed up 4% at $3.36 per share for a market cap of $1.1 billion.

Separately, Santa Ana-based First American Financial Corp. (NSYE: FAF) on Dec. 21 said it “experienced a cybersecurity incident,” which caused it take certain systems temporarily offline. The company didn’t elaborate.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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