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Cyberattack Disrupts Mortgage Payments for Millions of Mr. Cooper Customers

Submitted by jhartgen@abi.org on

Mr. Cooper, one of America’s largest nonbank mortgage loan servicers, suffered a cyberattack last week that disrupted loan payments and other transactions for millions of customers, the New York Times reported. The company, based in Coppell, Texas, said in a regulatory filing last week that it was attacked on Oct. 31. A notice on its website said Mr. Cooper “took immediate steps to lock down our systems” — which prevented customers from making online loan payments or gaining access to their account information. The company said on Monday afternoon that it had restored its system for accepting online payments. The notice also pointed customers toward options for making payments by phone, mail, Western Union or MoneyGram. “Mr. Cooper customers and customers whose loans we service on behalf of our clients who have tried or need to make payments will not incur fees, penalties or negative credit reporting as we work to fully resolve this issue,” a company spokesman said in a written statement. Mr. Cooper, formerly known as Nationstar, services mortgage loans for 4.3 million customers.