Pingora Loan Servicing data breach lawsuit

Pingora Loan Servicing data breach lawsuit

Written by The Lyon Firm on April 8, 2022. Posted in Data Breach, Litigation Update.

The Lyon Firm is actively involved in personal privacy and data theft cases and is currently investigating the Pingora Loan Servicing data breach claims.

Pingora Loan Servicing has disclosed a security incident involving unauthorized access to Pingora servers in December 2021. An investigation determined that an unauthorized person obtained access to sensitive files from October 27, 2021 to December 7, 2021. Compromised information may have included the following:

  • Name
  • Address
  • Loan number
  • Social Security number

*The letters sent to individuals noted that the leaked files may also have included other information provided in connection with certain loan applications.

Joe Lyon is a highly-rated data breach lawyer and Privacy Attorney representing plaintiffs nationwide in class action security breach lawsuits.

What Should You Do Following a Data Breach?

Regardless of the reason for a security breach, victims have the right to file a claim against a company for failing to protect their information. All companies and organizations must exercise reasonable care in protecting patient information, and if they do not, they can be held liable for the damages that result, including identity theft.

Security breach plaintiffs and privacy attorneys representing plaintiffs have been able to settle multi-million dollar recoveries. If you or a loved one has received notice of a data breach affecting you, or suspect signs of identity theft, contact a data theft lawyer for a free consultation.

Individuals can be ruined financially and emotionally, and deserve proper online security measures. But many companies and hospitals violate privacy laws and consumer rights, and thus face class action lawsuits.

After a data breach turns your life upside down, remember that you are not the only victim. There are millions of Americans who suffer from data privacy events every year, and in turn, seek legal action for compensation and to hold companies accountable for negligent security systems.

If you want more information on current data breach litigation and how to file a data theft class action lawsuit, contact The Lyon Firm for a free and confidential Pingora Loan Servicing case review.

Can You Sue following the Pingora Loan Data Breach?

Entities that collect and store data have a duty to protect personal information to the best of their ability. When they are negligent, and a data theft incident occurs, they may be liable for the following:

  • Improperly monitoring data security systems for existing intrusions
  • Not ensuring that vendors with access to computer systems and data employ reasonable security procedures
  • Improperly training employees in handling emails containing personal data and maintain adequate email security practices
  • Failure to implement technical policies and procedures to allow electronic data access only to individuals or software programs granted access rights
  • Failure to implement procedures to review records of information system activity regularly, such as audit logs, access reports and security incident tracking reports
  • Improperly protecting against reasonably anticipated threats or hazards to the security or integrity of stored data

An experienced class action privacy attorney can determine if you are eligible to file a data breach lawsuit or join a class of plaintiffs. Lawyers investigating the matter can assist in determining the following:

  • Did Pingora fail to adopt security safeguards that would have prevented a breach?
  • Did Pingora notify customers as soon as it learned of the incident?
  • Did Pingora provide a complete list of all individuals impacted?
  • Did Pingora provide security in line with industry standards?

Is Pingora loan servicing data breach real?

In December 2021, Colorado-based mortgage servicing company Pingora Loan Servicing, LCC, and its child company Bayview Asset Management were involved in a cyber-attack when hackers accessed private files belonging to over 160,000 customers.

Is the Pingora loan servicing data breach letter legitimate?

The letter you received from Pingora Loan Servicing regarding a security incident is legitimate. Pingora acquired the servicing rights to your mortgage loan from **************** and contracted with Cenlar to service the loan on our behalf, including management of all day-to-day activities on your loan.

Did Pingora loan servicing get hacked?

Pingora last month acknowledged the hack impacting at least 169,000 customers across four states but has yet to disclose the full scope of the attack.

Who is Pingora?

Pingora Asset Management LLC, (“Pingora”), is a specialized asset manager focused on investing in and servicing of new production performing mortgage servicing right (“MSR”) portfolios. Founded by Michael Lau in 2012, Pingora plans to capitalize on recently formed opportunities in the mortgage sector.