LoanCare Data Breach Settlement: $5.9M

Consumers who received a notice from LoanCare that their personal data may have been exposed during the Nov. 19, 2023 cybersecurity incident.

Required for reimbursement claims. Acceptable documentation includes receipts, bills, credit reports, or other evidence showing out-of-pocket losses related to the data breach.

LoanCare has agreed to a $5.9 million settlement to resolve a class action lawsuit stemming from a November 2023 data breach. Plaintiffs allege that the mortgage subservicer failed to implement adequate cybersecurity protections, allowing hackers to access private consumer information such as names, addresses, Social Security numbers, and loan account numbers.

LoanCare has not admitted wrongdoing but agreed to settle to avoid ongoing litigation.

What You Can Claim

Class members can choose between two types of compensation:

• Reimbursement for losses

  • Up to $1,500 for documented ordinary expenses (credit monitoring, communication fees, etc.)

  • Up to $5,000 for documented extraordinary losses (fraud, identity theft, etc.)

• Flat-rate cash payment

  • $100 for those who do not claim losses, subject to pro rata adjustment

All class members are also eligible to receive three years of identity monitoring services, which include:

• Real-time credit monitoring

• Dark web surveillance

• Up to $1 million in identity theft insurance

• Access to fraud resolution specialists

Those who previously accepted two years of monitoring from LoanCare will receive only one additional year under the settlement.