America's Biggest Banks Rush to Assess Damage from SitusAMC Vendor Hacking
Major financial institutions, including JPMorgan Chase, Citibank, and Morgan Stanley, are urgently working to determine the extent of a significant cyberattack on SitusAMC, a critical vendor for real estate loans and mortgages.
CyberattackFinancial InstitutionsSitusamcReal Estate LoansData BreachReal Estate NewsNov 23, 2025
The New York-based company, which employs approximately 5,000 people and is owned by several private equity firms, confirmed on Saturday (November 22) that it was breached on November 12 and has spent nearly two weeks investigating the scope of compromised data related to residential loan mortgages.
Citing five people briefed on the incident, The New York Times reported that JPMorgan Chase, Citibank, and Morgan Stanley are among the institutions notified by SitusAMC that client data may have been stolen. A JPMorgan spokesperson clarified that the bank itself had not been directly hacked.
The breach has generated particular alarm on Wall Street due to the nature of information SitusAMC handles. The vendor maintains vast collections of personal data from loan applications, including Social Security numbers and other sensitive financial information. SitusAMC CEO Michael Franco said in a statement that the company has notified law enforcement and “remain[s] focused on analyzing any potentially affected data.” The company has been providing near-daily updates to banking clients as the investigation continues.
Meanwhile, FBI Director Kash Patel addressed the incident, stating: “While we are working closely with affected organizations and our partners to understand the extent of potential impact, we have identified no operational impact to banking services.” SitusAMC serves as essential infrastructure for the real estate lending industry, offering services including loan origination, collection, and regulatory compliance.
Frequently Asked Questions
What is SitusAMC and what services does it provide?
SitusAMC is a New York-based company that provides essential services for the real estate lending industry, including loan origination, collection, and regulatory compliance. It employs approximately 5,000 people and is owned by several private equity firms.
Which major banks were notified about the potential data breach?
JPMorgan Chase, Citibank, and Morgan Stanley are among the major financial institutions that were notified by SitusAMC about the potential data breach.
What kind of data is at risk due to the breach?
The breach has put sensitive personal data at risk, including Social Security numbers and other financial information from loan applications.
What steps has SitusAMC taken in response to the breach?
SitusAMC has notified law enforcement and is focused on analyzing any potentially affected data. The company has been providing near-daily updates to banking clients as the investigation continues.
What has the FBI said about the situation?
FBI Director Kash Patel stated that while they are working closely with affected organizations and partners, they have identified no operational impact to banking services.
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