On December 20, 2023, LoanCare, LLC filed a notice of data breach with the Attorney General of Maine after discovering that an unauthorized party had accessed the computer system of its parent company, Fidelity National Financial, Inc. In this notice, LoanCare explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their names, addresses, Social Security numbers, and loan numbers. Upon completing its investigation, LoanCare began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.
If you received a data breach notification from LoanCare or Fidelity National Financial, it is essential you understand what is at risk and what you can do about it. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft, as well as discuss your legal options following the LoanCare data breach. For more information, please see our recent piece on the topic here.
What Caused the LoanCare Data Breach?
The LoanCare data breach was only recently announced, and more information is expected in the near future. However, LoanCare’s filing with the Attorney General of Maine provides some important information on what led up to the breach.
According to this source, LoanCare provides loan subservicing functions for various mortgage loan servicers. On November 19, 2023, LoanCare learned that an unauthorized party may have gained access to the computer systems belonging to its parent company, Fidelity National Financial, Inc. (“FNF”).
In response, FNF reported the attack to law enforcement and governmental regulatory agencies, took steps to contain the incident, and then began working with third-party data security specialists to investigate any impact on confidential consumer information in the company’s possession.
The FNF investigation confirmed that an unauthorized party was able to access and remove data from its systems. This included certain files containing information pertaining to consumers who took out a loan being serviced by LoanCare.
After learning that sensitive consumer data was accessible to an unauthorized party, LoanCare reviewed the compromised files to determine what information was leaked and which consumers were impacted. While the breached information varies depending on the individual, it may include your name, address, Social Security number, and loan number.
On December 20, 2023, LoanCare sent out data breach letters to anyone who was affected by the recent data security incident. These letters should provide victims with a list of what information belonging to them was compromised.
More Information About LoanCare, LLC
Founded in 1991, LoanCare, LLC is a mortgage subservicing company based out of Virginia Beach, Virginia. LoanCare provides a range of subservices to the mortgage industry, including full subservice, interim subservicing, backup servicing, HELOC subserving and component subservicing. LoanCare is a subsidiary of Fidelity National Financial, Inc., which is a large insurance company headquartered in Jacksonville, Florida. LoanCare employs more than 1,200 people and generates approximately $618 million in annual revenue.
