The loanDepot, which is a major mortgage and loan company had a serious cybersecurity breach back in January 2024. In this data breach, more than 16.9 millions individuals’ private information such as Name, SSN, Date of Birth, etc, were stolen, which led to a lawsuit claiming the company didn’t do enough to protect people’s personal info.
In the lawsuit the loanDepot didn’t admit they did anything wrong to their customers, but agreed to a settlement. A total of 16,924,007 individuals have received the notice from the company that their PII may have been impacted or otherwise compromised by the Data Breach, if you are among them you may submit the settlement form.
The deadline to submit the LoanDepot Data Breach Settlement is May 27, 2025, to get a portion from it and is mandatory to submit the lawsuit claim form by deadline. It is highly recommended to all notice-recipients to do so in the initial stage to avoid the last minute rush. Stay tuned to check eligibility criterias, settlement benefits, claim process and more.
| Breach Date | January 2024 |
| Affected Individuals | 16,924,007 |
| Claim Deadline | May 27, 2025 |
| Eligibility | Received notice, lived in CA, or believe info was exposed |
| Claim Options | Cash payment, reimbursement, or free credit monitoring |
| Cash Amount Range | $5.30 to $150 (including CA bonus) |
| Reimbursement Limit | Up to $5,000 for out-of-pocket expenses |
| Official Website | loandepotbreachsettlement.com |
Eligibility Criteria
The eligibility criterias to submit a settlement claim form for the LoanDepot Data Settlement is available below, go through the listed points to check that you are eligible to submit a claim and avail the settlement benefits.
- You must have received a notice from the LoanDepot, which states that your personally identifiable information (PII) was stolen during the data breach, which took place in January 2024. The notice must include Notice ID and a Confirmation Code, which are required to submit the claim form, or
- The individual must have lived in California anytime between January 3, 2021, and December 2, 2024. To prove it one is required the proof of California residency (like a driver’s license, utility bill, lease, etc.), and a claim explaining that you believe your data may have been affected.
Additionally, those individuals are also eligible to get the settlement benefits who haven’t received any notice, but they have strongly believed their information was exposed in the breach, in this scenario one is required to provide documents to submit the claim form.
How to Claim?
The step-by-step instructions to submit a claim form for the loanDepot Data Breach Settlement is available below.
- Go to the official website of the loanDepot Data Breach Settlement’s website, which is accessible at loandepotbreachsettlement.com/.
- Lookout for an option that reads ‘SUBMIT CLAIM,’ click on it and get redirected to the next webpage.
- Now, you have to enter your Notice ID and Confirmation Code (these details are available on the notice received from the LoanDepot), and hit the Submit button.
- Here, you will be asked to choose what you are Claiming such as Cash payment, Reimbursement for out-of-pocket expenses or Free credit monitoring.
- Lastly, you have to upload receipts, bills, proof of residency (for CA bonus), etc, and review and submit the claim form to get a printout of the confirmation page.
Alternatively, the eligible individuals have also an option to submit claim form by mail; to do so one is required to download the form, fill out the form by hand, attach documents, if required and mail it to:
- In re loanDepot Data Breach Litigation
- c/o Settlement Administrator
- 1650 Arch Street, Suite 2210
- Philadelphia, PA 19103
Note: Those who don’t have received the notice from LoanDepot and believe that their information was exposed during the 2024 January data breach are highly recommended to submit the claim form by mail.
Settlement Benefits
Individuals who will submit the LoanDepot Data Breach Settlement Claim Form by deadline, May 27, 2025, will get the Cash payment, reimbursement for out-of-pocket expenses or free credit monitoring, as per their claim, below we have discussed each of them; go through the listed to learn about it.
- Cash payment: Those individuals who will have chosen the cash payment in settlement claim form are likely to get around $5.30 to $70.71, and the resident of California could get an extra $14.90 to $74.52; the expected maximum cash amount is $150.
- Reimbursement for out-of-pocket expenses: If an individual spent his or her own money to deal with the effects of the breach, he or she can ask for reimbursement up to $5,000. It can be claimed for Credit freeze or fraud alert fees, Bank fees, overdraft charges, late fees from account issues, etc.
- Free credit monitoring: Individuals who have chosen the free credit monitoring will be able to avail the benefits of following:
- Daily monitoring of your credit reports.
- Alerts if your personal info is used or if new accounts are opened.
- $1 million in identity theft insurance.
- Access to specialists who help fix identity theft problems.
The cash payment or reimbursement are likely to be received within a few weeks, if there will be no appeal after the final approval, which is scheduled to take place on August 18, 2025.