Data Security

Outages at Mr. Cooper attributed to cyberattack

Major U.S. mortgage and loan firm Mr. Cooper has disclosed that ongoing outages have stemmed from a cyberattack on Oct. 31, which it is already looking to resolve, according to TechCrunch. Various systems have already been taken down to mitigate the attack, said Mr. Cooper, which later noted that an investigation examining any data compromise is already underway. No further details regarding the extent of the cyberattack, the company's ability to determine potentially compromised data, and the timeline of systems restoration have been provided by Mr. Cooper, but the Texas-based firm noted that its more than 4.1 million customers would not be penalized or given negative credit reporting for delayed payments amid ongoing attack remediation and investigation efforts. Meanwhile, Mr. Cooper noted in a filing with federal regulators that no significant business, operations, or financial impact is expected from the recent cyberattack.

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