On August 29, 2023, Sovos Compliance, LLC (“Sovos”) filed a notice of data breach with the Attorney General of California on behalf of RoundPoint Mortgage Servicing, LLC (“RoundPoint”). In this notice, Sovos notes that the incident resulted in an unauthorized party being able to access RoundPoint customers’ sensitive information. Upon completing its investigation, RoundPoint began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.
If you receive a data breach letter from Sovos Compliance mentioning that information you provided to RoundPoint Mortgage Servicing was leaked, 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 Sovos / RoundPoint Mortgage Servicing data breach. For more information, please see our recent piece on the topic here.
What Caused the Data Breach Affecting RoundPoint Mortgage Servicing Customers?
The Sovos data breach impacting RoundPoint customers was only recently announced, and more information is expected in the near future. However, Sovos’ filing with the Attorney General of California provides some important information on what led up to the breach. According to this source, Sovos is a vendor used by Roundpoint and provides Roundpoint with certain services. Sovos also uses a third-party application created by Progress Software called MOVEit.
On May 31, 2023, Progress Software announced a critical vulnerability in MOVEit. Upon learning of the vulnerability in MOVEit, Sovos took its MOVEit application offline and launched an investigation with the assistance of outside data security experts.
Through its investigation, Sovos was able to confirm that certain information belonging to RoundPoint customers was downloaded by hackers as a result of the vulnerability in the MOVEit application. Notably, the incident did not involve hackers gaining access to any of RoundPoint’s IT systems. Thus, all leaked information was downloaded from Sovos’ MOVEit application.
After learning that sensitive consumer data was accessible to an unauthorized party, RoundPoint Mortgage Servicing reviewed the compromised files to determine what information was leaked and which consumers were impacted.
On August 29, 2023, Sovos Compliance sent out data breach letters on behalf of RoundPoint to all customers who were 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 RoundPoint Mortgage Servicing LLC and Sovos Compliance
Founded in 2007, RoundPoint Mortgage Servicing LLC is a finance company based in Fort Worth, Texas. RoundPoint serves as a non-bank servicer of mortgages for commercial banks, credit unions, mortgage companies and hedge funds. RoundPoint also offers its customers Home Equity Conversion Mortgages (“HECM”). RoundPoint Mortgage Servicing employs more than 1,071 people and generates approximately $287 million in annual revenue.
Founded in 1979, Sovos Compliance LLC is a financial software company based out of Wilmington, Massachusetts. Sovos creates software solutions for tax determination, continuous transaction control compliance, and tax & regulatory reporting. Sovos Compliance employs more than 2,400 people and generates approximately $504 million in annual revenue.
