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First American is the latest real estate firm to suffer a cybersecurity incident.
Sources told HousingWire the incident occurred Wednesday afternoon, with First American confirming the incident Thursday morning.
In a statement on the title company’s website it notes that First American has “taken certain systems offline” and that it is working to resume normal business operations as soon as possible.
Source told HousingWire that closings have had to be delayed as a result of the cybersecurity incident.
This attack comes less than month after First American was asked to pay the New York Department of Financial Services (DFS) $1 million as part of a cybersecurity violation settlement.
Additionally, this is the second major cyber security incident to hit the title industry in less than a month. In late November, Fidelity National Financial became the victim of a ransomware attack that took its systems offline for a few days. Ransomware gang AlphV/BlackCat later claimed responsibility for the attack. On Tuesday, Teneika Tillis, a Loancare servicing client, filed a class action lawsuit against Fidelity and its subsidiary mortgage subservicer Loancare alleging that they were negligent with customer data.
Mr.Cooper, which became the victim of a cyber security attack in late October that exposed of nearly 15 million current and former clients, is currently facing four class action suits as a result of the attack.
