Large Data Breaches Reported By Multiple Mortgage Firms
In the past month, a number of mortgage firms have disclosed cyberattacks affecting a combined hundreds of thousands of customers, amid reports of rising industry fraud risk.
Lender American Financial Resources reported a data breach affecting 216,645 borrowers in March, according to a disclosure with the Indiana Attorney Generals Office. The Parsippany, New Jersey-based company identified suspicious activity in December and determined files including information such as social security numbers were accessed without authorization between Dec. 6, 2021 and Dec. 20, 2021.
The firm offered affected customers complimentary one-year Kroll credit monitoring and identity theft protection services. It also implemented additional security measures including a new endpoint detection and response tool, according to public notices.
AFR has taken steps to enhance its existing cybersecurity measures following the incident and will continue to look for opportunities to implement additional enhancements as part of its ongoing commitment to cybersecurity, said Bill Packer, AFR executive vice president and chief operations officer, in a statement.
Also, Maryland-based Certified Title Corporation disclosed last month that 10,624 of its customers were impacted by the massive Cloudstar ransomware attack last summer. Representatives for companies reporting data breaches didnt respond to requests for comment Monday.
Anonymous Complaint: Complaint Type: Problems With Product/service
Status:
04/18/2022
Business Response
04/19/2022
You recently received a letter from Pingora Loan Servicing regarding a security incident. The letter is legitimate. Pingora acquired the servicing rights to your mortgage loan from Nationstar Mortgage dba **************** , and contracted with **************** to service the loan on our behalf,including management of all day-to-day activities on your loan. Our records indicate that your loan was paid off in November of 2020. Please review the details in the letter you received. We encourage you to sign up for the credit monitoring service with ***** referenced in the letter. While the unauthorized access occurred in the 10/27 to 12/07 time-frame specified in the letter, and in your complaint,note that Pingora did a full investigation into the incident and needed to comply with federal and state requirements. It took time to identify your information and then match your name to our records. The list of impacted individuals, which included your name, was generated on March 7, 2022.
The Steps To Follow Following The Data Breach
- Make sure that the information that is disclosed in the data breach are to be in compliance with.
- Make sure you change all PINs, passwords and security questions as quickly as you can. Read on to learn more all you can about Pingora Loan Servicing Data Breach Scam.
- You can freeze your credit score for a specified time to keep intruders out of your credit score by using the compromised data on the servers.
- Contact an attorney for information breach and make plans for further steps to prevent being scammed in the future.
- Check all of your transactions with your financial institution regularly and establish the withdrawal limit.
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Unauthorized Sale Of Personal Information
While federal regulation of consumer privacy is still quite weak, many states have passed laws requiring companies to inform consumers about how their information will be handled. In many cases, large and trusted businesses generate huge profits from selling customers data to third parties. The third party can then do what they wish with the information obtained.
These are just a few of the most common causes of data breaches there are many others. At Console & Associates, P.C., our respected data breach and consumer privacy lawyers stay on top of all recent scams and attacks to ensure our clients interests are protected.
Unsecure Online Security Systems
Hackers will often share information with one another. Thus, once an online security system is around long enough, hackers will invariably find a way around it. Companies understand this and must routinely update their online security systems to protect consumers data. However, this is costly and time-consuming, and not every company immediately conducts the necessary updates. The result is that many companies rely on outdated security systems, a reality that puts consumers at risk.
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Search Data Security Breaches
California law requires a business or state agency to notify any California resident whose unencrypted personal information, as defined, was acquired, or reasonably believed to have been acquired, by an unauthorized person. for state agencies and California Civ. Code s. 1798.82 for businesses).
The law also requires that a sample copy of a breach notice sent to more than 500 California residents must be provided to the California Attorney General. Below is a list of those sample breach notices.
You can search by the name of the organization that sent the notice, or simply scroll through the list. To read a notice, click on the name of the organization in the list. Then click on the link titled “Sample Notification.”
What Is The Lawsuit All About
The Pingora Data Breach was a direct result of Pingoras failure to implement adequate cybersecurity measures. If you received a data breach notification, it is essential you understand what is at risk. Thedata breach lawyers at Console & Associates, P.C. are actively investigating the Pingora Loan Servicing data breach on behalf of people whose information was exposed
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How To Join The Class Action Lawsuit
If you received a NOTICE OF DATA BREACH letter from Pingora Loan Servicing, LLC then you are part of the settlement class. All you should do is contact The Lyon Firm for a free and confidential Pingora Loan Servicing case review. You can do so by visiting the website here
See similar class action cases
Pingora Loan Servicing Scam Or Is It Real Read
Are you detecting relative strings to Pingora Loan Servicing Scam Or Is It Real? Then, look at this article.
Do you know trending news revolving around a popular mortgage loan giver in the United States? If not, then dive deeper into this writing to know more.
A source highlighted that mortgage loan frauds are among the top growing evils in real estate. In addition, these scams are carried out in various ways, threatening big businesses and the overall economy. Therefore, we will display Pingora Loan Servicing Scam Or Is It Realthreads in this composition. So, to know the originality, you should study this article religiously.
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Is The Mortgage Provider Firm Scam Or Actual
According to a thread, on 6th April 2022, Pingora published a notice informing its customers about a security breach, causing the rupture of some delicate customer information. Thus, it alerted people to search and investigate the matter.
Considering the collected details, we are unsure whether the scam has happened or not. However, our analysis noticed that Pingorafund.com was enrolled on 19-11-2012 and is valid until 19-11-2028. In addition, we observed that this portal secured 100 trust ranks and 68% trust score values that raises the confidence on the website.
About Pingora Loan Servicing
Pingora Asset Management LLC is a financing company. Michael Lau founded this company in 2012. He is the CEO of this company. Michael also appointed Todd Wallace as CFO of this company.
Michaels thoughts were clear regarding the company he needed to build a business in the financing industry. But he was not expecting information leakage of the scam in the server that resulted in the open spread of personal details of their customers. This leakage of clients personal information raises their belief in the company.
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About Pingora Loan Servicing Llc
Pingora Loan Servicing, LLC is a specialized asset management company focusing on investing in new production performing mortgage servicing right portfolios. The company also services these portfolios. Pingora Loan Servicing employs roughly 29 people and generates $6 million in annual revenue. Pingora is a subsidiary of Bayview Asset Management, LLC, based in Coral Gables, Florida. Bayview is an investment management firm focusing on investments in the mortgage industry. Bayview currently has approximately $14.5 in assets under management. Bayview employs 180 people and generates $92 million in annual revenue.
Consumer Privacy And Data Breach Lawyers
NOTICE:
You just received a letter in the mail explaining that your personal information was compromised and accessed by an unauthorized third party in a recent data breach.
You may be wonderingwhich of your information was accessed? What can they do with this information? What can you do to protect yourself? What company allowed a third party to access your private information? Will your credit be impacted? Is there anything you can do to hold a company legally responsible for leaking your information?
These are all good questionsand important ones.
If youve recently learned that your personal and private information was compromised in a data breach, you must take the necessary steps to protect yourself. Hackers and other bad actors target email addresses, social media login information, credit card numbers, social security numbers and many other types of information.
The theft of personal information presents serious risks, most notably identity theft. In some cases, criminals may take out loans in your name or even provide your personal information to the police if they are arrested, meaning you could end up with a criminal record despite never having committed a crime.
47 percent of people experienced identity theft in 2020.consumer data privacy lawsuitmore than 1,290 data breaches
Call us today at .
Companies that you trust with your information have a duty to protect it.
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What Details Are Provided In The Pingora Loan Servicing Letter
There have been reports of letters that appear to come from Pingora Loan Servicing claiming that between October 27, 2021, and December 7, 2021, an unauthorized person obtained access to its servers.
The sensitive information that was viewed included names, addresses, social security numbers, loan details, and any other information involved with the loan servicing. In the letter, the Colorado-based company offers a free one-year subscription to Kroll, a cybersecurity firm that offers identity monitoring.
Make Sure That Letter From A New Mortgage Loan Servicer Isnt A Scam
Q: We have lived in our house for 15 years. About four years ago our mortgage was sold to a different loan servicing company. We called the new company several times over the course of a year and they said they have no record of our loan. We had no way to make our loan payments and now the real estate taxes have not been paid. We recently got notice that our real estate taxes were sold. If I pay the taxes, who owns the home?
A: Its hard to believe that it has been a full four years since you made a mortgage payment on your home, and youve been unable to figure out how to at least pay the real estate taxes. But lets take your email as it is and start to unpack it.
We suspect you may have more serious issues to contend with than simply the lack of payments for your mortgage and real estate taxes. How this ends could be catastrophic: You could lose your home because of the tax sale or you could lose your home because of the failure to make your mortgage payments.
Lets start with the assumption that you initially had a 30-year loan on your home and that the loan servicing issue came about 11 years into the loan term. We mention this because you may have put down 10 percent or 20 percent when you purchased your home and now, 11 years later, you have paid down a good chunk of the balance on the loan. This means that you should have quite a bit of equity in your home.
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Pingora Loan Servicing Data Breach Investigation
Written by The Lyon Firm on April 8, 2022. Posted in Data Breach, Litigation Update.
The Lyon Firm is actively involved in personal privacy and data theft cases and is currently investigating the Pingora Loan Servicing data breach claims.
Pingora Loan Servicing has disclosed a security incident involving unauthorized access to Pingora servers in December 2021. An investigation determined that an unauthorized person obtained access to sensitive files from October 27, 2021 to December 7, 2021. Compromised information may have included the following:
- Loan number
- Social Security number
*The letters sent to individuals noted that the leaked files may also have included other information provided in connection with certain loan applications.
Joe Lyon is a highly-rated data breach lawyer and Privacy Attorney representing plaintiffs nationwide in class action security breach lawsuits.
Pingora Loan Servicing Data Breach Scam
In the last month of 2021, December, Pingora Loan Servicing discovered that an anonymous user was accessing their system and their servers where the customers data had been breached. This incident started in October and ended in December, and it has created an impact on the customers.
Pingora always gives out loans by taking the mortgage of customers valuable things like house Gold and other essential things. According to the sources, more than a thousand customers data has been breached during this hacking.
Some sources say a few employees of this company were also involved in this scam, and they provided the important documentation to the group of hackers to hack.
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How To Protect Against A Data Breach
If you recently received a letter from a company you trusted indicating that your information was targeted in a data breach, it doesnt necessarily mean that you will become a victim however, it does mean that youve been put at risk. You may be wondering what you should do if you receive a data breach notification. Below are a few important steps you can take to protect yourself.
Essential Points Regarding Pingora Loan Servicing Data Breach Scam
- The Pingora loan data breach led to the loss of various information leaks, and people are perplexed about how this incident took place.
- The sensitive information could harm the people, and they could lose all their money if they get into the hands of the fraudsters.
- The company was founded in 2012 by Michael Lau to dominate the mortgage industry and provide loan services in the mortgage sector.
- Pingora Asset Management LLC had never faced such a scam in the past, and now people are afraid to invest in the company.
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What Should You Do Following A Data Breach
Regardless of the reason for a security breach, victims have the right to file a claim against a company for failing to protect their information. All companies and organizations must exercise reasonable care in protecting patient information, and if they do not, they can be held liable for the damages that result, including identity theft.
Security breach plaintiffs and privacy attorneys representing plaintiffs have been able to settle multi-million dollar recoveries. If you or a loved one has received notice of a data breach affecting you, or suspect signs of identity theft, contact a data theft lawyer for a free consultation.
Individuals can be ruined financially and emotionally, and deserve proper online security measures. But many companies and hospitals violate privacy laws and consumer rights, and thus face class action lawsuits.
After a data breach turns your life upside down, remember that you are not the only victim. There are millions of Americans who suffer from data privacy events every year, and in turn, seek legal action for compensation and to hold companies accountable for negligent security systems.
If you want more information on current data breach litigation and how to file a data theft class action lawsuit, contact The Lyon Firm for a free and confidential Pingora Loan Servicing case review.
Data Breaches Are Becoming A National Crisis
The concept of a data breach is not new however, given changes in how cybercriminals are carrying out their attacks, the risks to consumers are greater than ever before. For example, between the years 2020 and 2021, the number of data breaches increased by 68%. However, the total number of data breach victims over this same period actually decreased by about five percent. Unfortunately, this isnt necessarily good news. According to the Identity Theft Resource Center, the reduction in the number of victims is a function of cybercriminals focusing their efforts on obtaining more on stealing specific types of data, such as bank account information, Social Security numbers, and protected health information. Not surprisingly, data breaches involving this information present a much greater risk to consumers. Still, there are more than 188 million data breach victims per year.
Data breaches occur in several ways. For example, the installation of malware programs, ransomware attacks, and phishing scams are all common. In each of these, a hacker targets an organization, usually with knowledge or suspicion of vulnerabilities in the companys data security system. Once the hacker accesses an organizations computer network, they can access and steal any consumer data located on the affected network.
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