“Mr. Cooper said it expects to incur up to $10 million in additional vendor costs during its fiscal fourth quarter, adding that it does not expect a material impact to its business.”
Mr. Cooper has more than four million mortgage customers, and its systems have been down for over a week since an October 31 attack. It confirms customer data was exposed and still cannot say which data. The company sends questions to a PR firm and keeps its CISO away from reporters. The $10 million cleanup is immaterial to the company. The customers locked out of their mortgage accounts don’t get a say.