Cyberattack suspends Mr. Cooper's mortgage payments and loan servicing operations

On October 31, 2023, Mr. Cooper detected unauthorized access to technology systems and implemented containment measures that took mortgage servicing platforms offline. Between November 1 and November 4, many borrowers could not make payments or access their accounts, while the company suspended or impaired loan onboarding and investor remittances. Servicing functions began resuming on November 4. The incident therefore directly disrupted mortgage transaction processing and customer service delivery and affected financial reporting and remittance workflows.