Security Breach Impacting 2.5 Million Users Revealed by Mortgage Servicer

This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents

In October, Lakeview Loan Servicing revealed a significant data breach that went unnoticed for more than a month and exposed the personal details of above 2 million customers. Any incident that leads to unauthorized access to data, applications, networks, or devices is referred to as a security breach. As a result, information is accessed without permission. It usually happens when an invader can get past security measures.

The breach that was discovered in early December, harmed 2,537,261 borrowers between Oct. 27, 2021, and Dec. 7, 2021, as per the firm. According to public notice The letters, an unauthorized person gained access to the firm’s servers and data, including names, addresses, loan information, and Social Security numbers. One of the notices described the occurrence as an “external system breach.”

Mortgage servicers receive mortgage payments from homeowners and remit them to investors, tax officials, and insurers via escrow accounts. Investors’ assets in mortgaged properties are also protected by servicers, who ensure the homeowners have enough insurance coverage. Customers have lodged eight class-action lawsuits in a Florida federal court since the servicer’s revelation in mid-March, alleging Lakeview of breach of fiduciary responsibility, among other things, for failing to preserve personally identifiable information. In a complaint filed on behalf of Jennifer Morrill, a California client, Daniel Rosenthal, an advocate with DBR Law, P.A., sa

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