Loan Servicing
Lakeview Loan Servicing, LLCHeadquarters
Information and Alerts
Alert Details
This business has 1 alert.
Government Actions
Settlement Agreement and Consent Order LAKEVIEW LOAN SERVICING, LLC PINGORA LOAN SERVICING, LLC COMMUNITY LOAN SERVICING, LLC BAYVIEW ASSET MANAGEMENT, LLC
As of January 8, 2025
The Office of Financial Regulation (OFR) and 52 state financial
regulatory agencies announced a coordinated enforcement action against
Bayview Asset Management LLC, and three of its affiliates, Lakeview Loan
Servicing, Community Loan Servicing, and Pingora Holdings, for
deficient cybersecurity practices and failing to fully cooperate with
state regulators following a data breach that impacted 5.8 million
customers.
In addition to the $20 million penalty, the Bayview companies have
agreed to take specified corrective actions, improve cybersecurity
programs, undergo independent assessments, and provide three years of
additional reporting to state regulators.
The multistate effort found that the Bayview companies’ information
technology and cybersecurity practices did not meet state or federal
requirements. Further, the Bayview companies delayed the supervisory
process by failing to comply with state requests in a timely or complete
manner in the early stages of the examination.
Florida residents with questions about the settlement should contact the OFR at (850) 487-9687
. Floridians can also visit www.flofr.gov to verify that a financial
services company is licensed to do business in Florida and view past
enforcement actions.
LINK: https://flofr.gov/news/details/20-million-fine-levied-against-bayview-companies
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