Regulatory Alerts2025-01-07
Order Regarding Lakeview Loan Servicing, LLC, Pingora Loan Servicing, LLC, Community Loan Servicing, LLC, and Bayview Asset Management, LLC
State Mortgage Regulators coordinated by the Multi-State Mortgage Committee issued this Order to resolve enforcement concerns regarding a 2021 cybersecurity incident involving Lakeview, Pingora, Community Loan Servicing, and Bayview Asset Management. The settlement mandates comprehensive improvements to the Respondents' corporate governance, internal audit processes, and IT cybersecurity programs to address deficiencies identified in a multi-state examination. Key requirements include implementing robust patch management, encrypting consumer data, establishing data loss prevention measures, and ensuring regular board-level oversight of information security risks.
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