Mortgage Giant Mr. Cooper Shuts Down Systems Following Cyberattack

An anonymous reader quotes a report from SecurityWeek: 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. 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. 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. Headquartered in the Dallas, Texas, area, Mr. Cooper is one of the largest mortgage servicers in the US, with approximately 4.3 million customers. While it remains unclear what kind of cyberattack hit Mr. Cooper's systems, the mortgage and loan giant did confirm that customer data was compromised. However, banking information does not appear to be impacted. "Mr. Cooper does not store banking information related to mortgage payments on our systems. This information is hosted with a third-party provider and, based on the information we have to date, we do not believe it was affected by this incident," the company added. According to TechCrunch, citing a filing with the U.S. Securities and Exchange Commission, Mr. Cooper said it "expects to incur up to $10 million in additional vendor costs during its fiscal fourth quarter, adding that it does not expect a material impact to its business."

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