Over 171,000 customers impacted
AnnieMac Home Mortgage is under investigation following a data breach that compromised the personal information of 171,074 customers.
The breach, which occurred between August 21 and 23, 2024, exposed sensitive data in AnnieMac's systems, including names and Social Security numbers, according to the New Jersey-based mortgage lender. However, customers were only notified three months after the incident occurred.
"AnnieMac was recently targeted by cybercriminals attempting to breach sensitive information," CEO Joe Panebianco said in a statement. "However, thanks to our team’s vigilance and expertise, we acted swiftly and decisively to contain the event, minimize potential harm, and notify those impacted. We are steadfast in our commitment to protecting our customers and staying ahead of these threats."
Panebianco added that the company has "strengthened our systems, enhanced employee training, and refined our response protocols to further fortify our defenses."
Law firm Schubert Jonckheer & Kolbe said those affected may be at risk of identity theft, financial fraud, and other serious violations of privacy. If the investigation confirms violations, affected customers may be entitled to money damages and an injunction requiring changes to the company's cybersecurity practices.
Recent platform expansion
Amid scrutiny over the breach, AnnieMac recently expanded its Cash2Keys Cash Offer platform to include FHA loan eligibility. This update allows buyers using FHA financing to compete with cash offers in the housing market.
Homebuyers can remove mortgage contingencies, presenting stronger offers to sellers. Cash purchases convert to traditional mortgages at closing.
Read next: MBA "remains very concerned" about FHA's mortgage insurance premiums
"At AnnieMac, we understand that VA and FHA borrowers are often sidelined in a market that favors cash and conventional buyers," said Panebianco. "Our Cash2Keys platform is here to change that, giving first-time homebuyers, veterans, and underserved borrowers a genuine opportunity to compete.”
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
