$25M loanDepot data breach class action settlement
May 27, 2025
Filing Deadline
loanDepot, a major mortgage lender, agreed to pay $25 million to settle a class action lawsuit alleging the company failed to implement adequate cybersecurity measures, leading to a January 2024 data breach that affected 16.9 million customers. The breach compromised sensitive personal information including Social Security numbers, financial data, and other private details.
People who received individualized notice from loanDepot that their personal information was compromised in the data breach occurring between January 3 and 5, 2024, were eligible for compensation.
Who Is Eligible?
You may be eligible to file a claim if you:
To qualify for this settlement, you must have:
- Received individualized notice from loanDepot about the data breach
- Had your personal information compromised in the breach that occurred between January 3 and 5, 2024
Payment tiers:
- All eligible claimants: Cash payments ranging from $5.30 to $70.71 based on participation rates
- Claimants with documented losses: Reimbursement up to $5,000 with supporting documentation
- California residents: Additional CCPA payments ranging from $14.90 to $149.04
Documentation such as bank statements, receipts, account statements, invoices, and credit reports was required for loss reimbursement claims.
How Much Can You Get?
The total settlement fund was $25 million, which included approximately $9.34 million in security enhancements loanDepot agreed to implement. Base cash payments ranged from $5.30 to $70.71 depending on participation rates. California residents qualified for additional CCPA payments of $14.90 to $149.04. Those with documented fraud or identity theft losses could seek reimbursement up to $5,000.
How to File Your Claim
Filing your claim is quick and easy:
This settlement's claim deadline of May 27, 2025 has passed. While you can no longer file a claim, you can download Class Action Buddy to get notified about similar future settlements.
💡 Easier way: File with Class Action Buddy
Skip the paperwork. Our app auto-fills your claim form with your saved profile and submits it electronically in under 2 minutes.
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Frequently Asked Questions
What information was compromised in the loanDepot data breach?
Details about the specific types of information compromised in the 2024 loanDepot data breach are still pending. The breach affected 16.9 million customers and likely involved personal and financial information typically held by mortgage lenders.
When did the loanDepot data breach happen?
The loanDepot data breach occurred in 2024. If you were affected, you should have received notification from the company about the security incident and the compromise of your personal information.
How much money can I get from the loanDepot settlement?
Individual payout amounts from the $25 million settlement have not been announced yet. The final compensation amounts will depend on factors like the number of valid claims filed and the extent of damages experienced by each class member.
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