LoanCare, a significant player in mortgage servicing, warns 1.3 million borrowers of a data breach originating from its parent company, Fidelity National Financial. The breach, discovered around November 19, 2023, involved unauthorized access to Fidelity’s systems, compromising sensitive borrower information, including names, addresses, Social Security Numbers, and loan numbers.
This data breach notification, shared through LoanCare’s website, emphasizes the potential risks of phishing and scamming attacks due to the exposed information, urging vigilance among recipients. To address the breach’s impact, LoanCare is offering affected individuals enrollment in a two-year identity monitoring service through Kroll. T
his measure aims to mitigate further risks stemming from the exposed data. Notably, this incident echoes a recent cyberattack on First American Financial Corporation, another title insurance giant, though details regarding potential data exposure or the extent of disruption remain undisclosed as system restoration efforts continue. While LoanCare and Fidelity National Financial take steps to inform affected parties and provide identity monitoring services, First American’s cyberattack recovery efforts are ongoing, with no clear timeline for normal operations’ resumption or details on customer data exposure yet provided.
These incidents underscore the vulnerability of sensitive data within the mortgage and title insurance sectors, highlighting the importance of robust security measures and vigilant monitoring to safeguard against cyber threats.