Mr. Cooper services 4.3 million customers and manages an unpaid principal balance totaling $870 billion. It ranks as one of the top 20 mortgage originators in the US, funding $28 billion in loans in 2022.
Company representatives have declined to comment on the lawsuit. However, Mr. Cooper’s chairman and CEO, Jay Bray, issued an apology to customers before the filing of the new lawsuit.
“We take our role as a mortgage company very seriously, and there is nothing more important to us than maintaining our customers’ trust,” Bray said in a statement. “I want you to know how sorry I am for any concern or frustration this may have caused. Making the homeownership journey as smooth as possible is our top priority, and we intend to make this right for our customers.”
According to the lawsuit, the breach leaked sensitive customer information, including names, addresses, phone numbers, email addresses, Social Security numbers, dates of birth, and bank account numbers.
While Mr. Cooper has acknowledged that nearly all its current and former customers were affected, there have been no specific reports of identity theft or financial fraud directly linked to the breach. Still, the lawsuit argues that customers are at substantial risk of future harm, potentially for years, especially if the stolen information is sold on the dark web.