Cyberattack Hits Second Largest US-Non Bank Mortgage Lender

US mortgage lender loanDepot has confirmed that it has experienced a cyberattack, resulting in the disruption of critical systems. The California-based company, the second-largest non-bank mortgage lender in the country, detected unauthorized activity and promptly took steps to contain and respond to the incident. The investigation, aided by cybersecurity experts, revealed that certain systems were accessed and data was encrypted. loanDepot has shut down affected systems, implemented security measures, and is working towards restoring business operations. The impact and potential material impact of the incident are being assessed. Shares of loanDepot are down 5% in premarket trading.