Update on LoanDepot’s Recent Cyber Attack

loanDepot, Inc. (“LDI” or “Company”) (NYSE: LDI), a prominent provider of home lending solutions, has issued an update regarding the cyber incident that was initially disclosed on January 8, 2024.

In response to the incident, the Company has been actively collaborating with external forensic and security experts to investigate the situation and expedite restoring normal operations. Significant headway has been made in the restoration process, particularly in bringing the loan origination and servicing systems back online, including the MyloanDepot and Servicing customer portals.

While the investigation remains ongoing, it has been determined that an unauthorized third party gained access to sensitive personal information belonging to approximately 16.6 million individuals within the Company’s systems. loanDepot is taking swift action by notifying these affected individuals and extending an offer of credit monitoring and identity protection services at no charge.

loanDepot CEO Frank Martell acknowledged the unfortunate reality of the increasingly frequent and sophisticated cyberattacks that plague our world and industry. He expressed regret for any inconvenience caused to customers and emphasized the dedicated efforts of the entire loanDepot team in assisting customers, partners, and colleagues throughout this challenging period. Martell also expressed satisfaction with the progress made in restoring normal business operations.

Jeff Walsh, President of LDI Mortgage, echoed the sentiment of putting customers at the forefront of their endeavors. He praised the team’s resilience and emphasized their commitment to resuming their primary mission of helping customers nationwide achieve their financial aspirations and homeownership dreams.

LoanDepot says it is “not yet determined” whether the cybersecurity incident will significantly impact the company’s financial status.

loanDepot is committed to transparency and intends to keep its customers, partners, and employees informed. For additional operational updates related to this incident, the Company has set up a microsite at loandepot.cyberincidentupdate.com.