On September 27, 2023, PHH Mortgage Corporation, a prominent mortgage company headquartered in Mount Laurel, New Jersey, made an alarming announcement. The company filed a notice of a data breach with the Attorney General of Texas, marking a significant development in the ongoing battle against data security threats.
The breach came to light when PHH Mortgage discovered that an unauthorized party had gained access to information entrusted to the company. This breach, unfortunately, had severe implications for consumers. Sensitive personal data, including names, Social Security numbers, dates of birth, and addresses, fell into the wrong hands.
In response to this grave situation, PHH Mortgage launched an immediate investigation. Upon completion, the company embarked on the arduous task of notifying all individuals whose information had been compromised during this breach. The breach notification letters were dispatched to those affected, urging them to take action to protect themselves.
One of the most concerning aspects of this breach is the exposure of Social Security numbers (SSNs). For cybercriminals, SSNs are highly sought-after commodities. They can exploit this information for identity theft or sell it on the Dark Web, where it becomes a valuable commodity. As a result, individuals whose SSNs were exposed in this breach face an elevated risk of identity theft and fraudulent activities.
To safeguard against such threats, affected individuals are strongly advised to seek guidance from a data breach lawyer. These legal professionals can provide valuable insights into protecting oneself from fraud and identity theft and explore potential legal remedies following the PHH Mortgage data breach.
The Root Cause of the Data Breach
While PHH Mortgage’s notice to the Attorney General of Texas has shed light on the breach, many questions remain unanswered. The initial filing provides limited information about the breach’s origins. It’s conceivable that the breach may have occurred at a third-party vendor and may not have directly involved a breach of PHH’s computer network.
However, what is known is that the breach exposed certain information belonging to PHH Mortgage customers. This information includes names, Social Security numbers, addresses, and dates of birth. In Texas alone, 8,073 people were affected, and the total number of victims nationwide is yet to be determined.
Typically, companies such as PHH Mortgage send out data breach notification letters to affected individuals around the time they file notices with authorities. While the letter may bear another company’s letterhead if the breach originated from a vendor, it will provide victims with a list of the compromised information.
Founded in 1946, PHH Mortgage Corporation has a long history of providing mortgage and refinance solutions to consumers. Based in Mount Laurel, New Jersey, the company offers a wide range of mortgage products and services. In addition to its core offerings, PHH Mortgage also provides accidental death insurance, flood insurance, and auto insurance.
Employing over 2,727 individuals, PHH Mortgage is a significant player in the mortgage industry, generating approximately $1.4 billion in annual revenue.
In conclusion, the recent data breach affecting PHH Mortgage Corporation serves as a stark reminder of the ever-present threat to personal data security. It underscores the importance of vigilance, preparedness, and swift action in response to such incidents. Affected individuals should take immediate steps to protect themselves and seek appropriate legal guidance as they navigate the aftermath of this breach.