US retail mortgage lender loanDepot struggles with cyberattack

By FRANK BAJAK
AP Technology Writer

BOSTON (AP) — The U.S. retail mortgage lender loanDepot says it’s struggling with a cyberattack that has impacted loan processing and phone service. In a filing Monday with the Securities and Exchange Commission, the company says data was encrypted by an unauthorized third party who broke into company systems. The incident bore all the hallmarks of a ransomware attack, but company spokesman Jonathan Fine would neither confirm or deny that possibility. The incident was first reported on social media over the weekend. The Irvine, California, company has more than $140 billion in outstanding loans and services more than 27,000 customers a month.