Posted On August 31, 2023 Consumer Privacy & Data Breaches
August 31 – The PennyMac Loan Services, LLC data breach lawyers at Console & Associates, P.C are investigating the data breach that was reported after the company was targeted in a recent cyber security attack. The PennyMac Loan Services data breach resulted in the sensitive information of certain individuals being compromised.
According to the Attorney General of California, PennyMac Loan Services reported a data breach after they were targeted in a recent cyber security attack. Sovos acts as a vendor to financial services companies, providing them with certain services and uses the MOVEit third-party application, created by Progress Software. On May 31, 2023, Progress Software announced a previously unknown vulnerability in its MOVEit Transfer application. Sovos took its MOVEit application offline and launched an investigation. On July 28, 2023, the Sovos investigation confirmed that certain information belonging to PennyMac customers was compromised when hackers exploited the vulnerability in Sovos’ instance of MOVEit. The incident did not involve hackers gaining access to any of PennyMac’s systems. On August 28, 2023, Sovos Compliance sent out data breach letters on behalf of PennyMac Loan Services to those individuals whose information was affected by the breach.
To learn more about the PennyMac Loan Services data breach, see our latest piece on the topic.
PennyMac Financial Services, Inc. is a residential mortgage company based out of Westlake Village, California. One of the largest residential mortgage lenders in the United States, PennyMac operates through two subsidiaries, PennyMac Loan Services, LLC and PNMAC Capital Management, LLC. PennyMac Loan Services has worked with over four million homeowners over the past 15 years.
Sovos Compliance LLC is a financial software company based out of Wilmington, Massachusetts. Sovos creates software solutions for tax determination, continuous transaction control compliance, and tax & regulatory reporting.
Our data breach lawyers are eager to speak to victims of the PennyMac Loan Services data breach to determine what damages they sustained and what compensation may be available to them. If you recently received a NOTICE OF DATA BREACH from PennyMac Loan Services and would like a free consultation, contact the Console & Associates, P.C. law firm at (866) 778-5500 to discuss your legal options, or submit a confidential contact form.
