LoanDepot class action lawsuit overview:
- Who: Plaintiff Jonathan Rosa filed a class action lawsuit against LoanDepot Inc.
- Why: LoanDepot allegedly failed to adequately protect sensitive personal information, leaving it vulnerable to a data breach that affected millions of its customers.
- Where: The LoanDepot class action lawsuit was filed in California federal court.
Mortgage lender LoanDepot Inc. is facing a class action lawsuit alleging its “willful failure” to prevent a data breach enabled unauthorized third parties to access more than 16 million consumers’ sensitive personal information.
LoanDepot reported the data breach Jan. 8 in a form 8-K filing with the U.S. Securities and Exchange Commission. The company announced the LoanDepot data breach on its website the same day, according to the LoanDepot class action lawsuit.
Plaintiff Jonathan Rosa says he provided personally identifying information (PII) including his name, Social Security number, birthdate, bank account numbers and other sensitive information to LoanDepot when he applied for a personal loan in 2021.
As a result of the LoanDepot data breach, he says he will be at substantial risk of identity theft and fraud.
Rosa says he paid a premium to LoanDepot for its data security and claims he would not have used LoanDepot had he known the company would expose his sensitive PII.
“In its Privacy Policy, LoanDepot makes numerous promises to its customers that it will maintain the security and privacy of their personal information,” the class action lawsuit alleges.
Plaintiff: LoanDepot data breach victims face threat of identity theft, fraud
The class action lawsuit explains PII is highly valuable to cyber criminals because the data can be used to commit identity theft, fraud and other criminal activities.
“Given the nature of the [LoanDepot data breach], it is foreseeable that the compromised PII will be used to access plaintiff and the class members’ financial accounts,” the class action lawsuit says.
It is possible that the LoanDepot data breach victims may not fully experience the effects of their data being stolen for years to come, Rosa says.
The class action lawsuit asserts claims for negligence, breach of contract, violation of the California Consumers Legal Remedies Act, Unfair Competition Law, Customer Record Act and unjust enrichment.
A LoanDepot class action lawsuit filed last year alleged the mortgage lender’s website recorded visitors’ keystrokes and website interactions in violation of consumer privacy laws.
Were you affected by the LoanDepot data breach? Tell us about your experience in the comments.
Rosa is represented by Daniel S. Robinson and Michael W. Olson of Robinson Calcagnie Inc. and Stephen R. Basser and Samuel M. Ward of Barrack Rodos & Bacine.
The LoanDepot class action lawsuit is Jonathan Rosa v. LoanDepot Inc., Case No. 8:24-cv-00167, in the U.S District Court for the Central District of California.
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84 thoughts onLoanDepot class action alleges company failed to prevent massive data breach
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I just received notification yesterday April 6 and this happened in Jan??? However the letter was dated February. I am interested in the class action
Please add me, my husband is affected by this.
I also received a letter for myself and spouse about the data breech!
I received a letter from Loan Depot, with whom I never have had a mortgage or loan. Apparently my PII was sold or shared with them by another company, possibly our mortgage lender. I don’t understand why LD would have or need my SSN and financial information. I have already frozen my credit, but Loan Depot’s offer of two years of credit monitoring is not helpful. Apparently if I accept the offer of the Experian IDWorks protection, I must agee to their legal terms, which protect them, not me. Hackers can hold and sell or use the information after 2 years, anyway.
add me! i received a letter and think i am affected.
I received a letter as well from LoanDepot on March 25th, 2024 that was dated February 23, 2024 offering 2 years of credit monitoring as resolution for allowing my PII to be compromised. Please add me to the list of those looking for monetary restitution.
Received a letter for me and my spouse on Saturday. Please add us to the list. Thanks
On 4/15/19 1-13319-25769-0000 notified by loan depot my identity loan stolen and notified 0016771685 my loan confirmed to chase on 12/20/21 from loan depot and listed fatic of my claims 1809200986 and then on 7/29/19 corrupt attorney Leroy Asher still trying to still my loan contacted chase case ecw190712-05262 asking for details with his client immigrant squatter Dr. Charles amanze enjoying an unjust enrichment at 28425 brooks lane Southfield Mi 48034 he an computer expert here in our country on a visa with a fake SSN number 364-86-8746. Under loan L0009475412 he started it, not me. Were contacted by loan depot Danyelle and Melinda with apology emails. Chase confirmed my loan paid up in my name 306000 under 895577136. The squatter has cashed two escrow checks in my name at boa and boa account held by fatic vp beth schrieber in her new office in Scottsdale Az also the account business name found to be from her as mayflower group LLC in Scottsdale Az stealing my benefits.
I received a letter from LoanDepot on March 28, 2024 but the letter is dated February 23, 2024. South took a month for me to get this letter? Plus, I have not applied for any home loan since 2001. Not sure how they have any of my information but YES, add me…..