LoanDepot Data Breach Settlement 2025: In early 2024, millions of Americans were caught off guard when LoanDepot, one of the nation’s largest non-bank mortgage lenders, revealed a massive data breach that shook consumer confidence.
If you’re one of the 16.9 million affected individuals, you could be entitled to financial compensation, credit monitoring, and identity protection services under the LoanDepot Data Breach Settlement 2025. This comprehensive guide walks you through all the details—from eligibility and documentation to deadlines and practical steps—to help you secure the compensation you’re entitled to.
LoanDepot Data Breach Settlement 2025
| Feature | Details |
|---|---|
| Breach Dates | January 3–5, 2024 |
| Number of People Affected | Approximately 16.9 million individuals |
| Settlement Amount | $25 million total |
| Claim Deadline | May 27, 2025 |
| Eligible Compensation | Cash payment ($5.30–$70.71), up to $5,000 for expenses, credit monitoring |
| Additional CA Benefits | $14.90–$149.04 under California Consumer Privacy Act (CCPA) |
| How to File a Claim | Online or by mail (see below) |
| Official Settlement Site | www.loandepotbreachsettlement.com |
If you were affected by the LoanDepot data breach, this class-action settlement gives you an important opportunity to recoup losses, gain peace of mind, and access identity protection resources.
Filing your claim only takes a few minutes but could save you significant time, stress, and money in the long run. Act now, stay protected, and take control of your personal data security.
Why This Matters
Data breaches might sound like distant tech issues, but when it’s your private information that’s been compromised, it becomes deeply personal. Sensitive data like Social Security numbers, addresses, bank details, and employment history can be misused in devastating ways. Victims of such breaches often face financial fraud, identity theft, emotional distress, and even legal issues.
LoanDepot’s breach in January 2024 represents one of the largest incidents involving a financial institution in recent years. In response, a $25 million class-action settlement fund has been established to offer restitution and assistance to those affected.
What Happened in the LoanDepot Data Breach?
In January 2024, cybercriminals launched a coordinated attack on LoanDepot’s internal systems, bypassing cybersecurity defenses and gaining unauthorized access to a treasure trove of personal data. According to the SEC filing, attackers infiltrated LoanDepot’s servers over a three-day span, extracting data on millions of customers.
What Type of Information Was Compromised?
The hackers accessed highly sensitive personal data, including:
- Full legal names
- Social Security numbers
- Dates of birth
- Residential addresses and phone numbers
- Email addresses
- Financial account numbers and loan details
- Employment and income data
This stolen information opens the door to identity theft, phishing scams, unauthorized transactions, and even synthetic identity creation. Victims may not even realize the full extent of the impact for years.
Who Is Eligible for the LoanDepot Settlement?
To be eligible for compensation:
- You must have received a Notice of Data Breach from LoanDepot.
- Your personal data must have been exposed between January 3 and January 5, 2024.
Each notification includes a Notice ID and a Confirmation Code, which are essential for submitting a valid claim.
If you believe you were affected but didn’t receive a notice, you can reach out to the Settlement Administrator via email at [email protected] or call 1-844-996-4090 to inquire.
Additionally, individuals who have moved or changed contact details since early 2024 may want to double-check their records or contact LoanDepot directly for confirmation.
What Compensation Can You Receive?
1. Cash Payment
All eligible claimants may receive a baseline cash payout between $5.30 and $70.71, depending on how many people file claims and the settlement fund balance.
2. Out-of-Pocket Expense Reimbursement
If you spent money addressing the breach’s aftermath—whether for identity theft recovery, document replacement, legal services, or time lost—you may be reimbursed up to $5,000. Valid receipts, invoices, or other proof are required.
3. Credit Monitoring Services
Everyone eligible can enroll in two years of premium credit monitoring, which includes:
- 24/7 identity theft alerts
- Fraud resolution assistance
- Monthly credit reports and scores
4. Special California Resident Payments
Thanks to the California Consumer Privacy Act (CCPA), residents of California may be eligible for additional statutory damages, ranging from $14.90 to $149.04.
How to File a Claim
Step 1: Locate Your Notification
Find your Notice ID and Confirmation Code, which should be in the mailed or emailed notice from LoanDepot.
Step 2: Choose a Filing Method
You may file:
- Online using the Claim Submission Portal
- By Mail by printing and completing this PDF Claim Form
Mail your form to:
In re loanDepot Data Breach Litigation
c/o Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
Step 3: Gather Documentation
For reimbursement claims, attach supporting items like:
- Bank statements
- Receipts
- Identity protection service bills
- Police or FTC reports (if applicable)
For California residents, proof of residence (e.g., utility bill or lease) from January 3, 2021, to December 2, 2024 is required.
Step 4: Submit by the Deadline
All claims must be submitted by May 27, 2025. Mailed claims must be postmarked by this date.
Practical Advice: Protect Yourself from Future Breaches
Whether or not you’re eligible for compensation, it’s a good time to tighten your personal security. Here are key actions you can take:
- Freeze your credit at Equifax, Experian, and TransUnion
- Use password managers and change weak or repeated passwords
- Turn on two-factor authentication on email, banking, and social media
- Monitor credit reports through annualcreditreport.com
- Watch out for phishing emails or suspicious calls pretending to be from banks or LoanDepot
- Enroll in free identity protection tools if offered by your bank or employer
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FAQs about LoanDepot Data Breach Settlement 2025
What is the deadline to file a claim?
The final deadline to file is May 27, 2025. Claims received or postmarked after this date will be considered invalid.
I lost my Notice ID. Can I still file?
Yes, but you need to contact the Settlement Administrator to retrieve or verify your credentials before proceeding.
How will I receive my compensation?
You can choose how you get paid: check by mail or electronic transfer via PayPal, Venmo, or ACH deposit.
Do I need legal representation?
No. This is a class-action settlement, so you can file your claim independently. However, you have the right to opt out or hire an attorney if you prefer.
Can I opt out of the settlement?
Yes. If you do not wish to be legally bound by the settlement, you must request exclusion by April 27, 2025. This preserves your right to sue LoanDepot independently.
