Mortgage Investors Group (MIG), a Tennessee-based mortgage lender, has confirmed that it experienced a cyberattack in December 2024 that exposed sensitive customer information. The attack, which began on December 11 and was discovered the following day, resulted in unauthorized access to MIG’s computer systems, potentially compromising personal and financial details of a number of customers. The company has not specified how many individuals were affected but has hired a vendor to help identify those impacted, with plans to notify them directly in the coming weeks. MIG serves approximately 300,000 customers across 26 branches, making the breach particularly concerning.
While MIG did not provide details on whether the cyberattack was related to ransomware, it was later revealed that the Black Basta ransomware gang claimed responsibility for the attack. Black Basta has gained notoriety for targeting various sectors, including financial institutions and critical infrastructure. The group has previously been involved in high-profile attacks on organizations such as Dish Network, the American Dental Association, and the government of Chile. Federal law enforcement has warned that the gang is actively targeting a wide range of industries, having carried out attacks on at least 500 organizations globally between 2022 and 2024.
The breach exposed highly sensitive customer information
The breach exposed highly sensitive customer information, including full names and financial data, posing significant privacy risks. Although MIG has not yet disclosed whether the attack involved ransomware or another form of cyberattack, the company’s disclosure points to the increasing threat of such incidents in the housing and mortgage sectors. Ransomware attacks on companies in the housing industry have been on the rise in recent years, with other lenders and title insurance firms falling victim to similar incidents, causing delays and disruptions in housing transactions.
MIG has reassured its customers that it is actively investigating the incident and taking steps to safeguard against future attacks. The company is urging affected customers to be vigilant and has recommended additional security measures for impacted individuals. The incident highlights the growing importance of cybersecurity within the housing and mortgage sectors, as cybercriminals continue to target institutions handling large volumes of sensitive financial data. With ransomware gangs continuing to focus on the housing industry, the need for stronger security measures and faster response times has become more urgent.
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