Major Banks and FBI Investigate Hack of Real Estate Finance Vendor
A technology vendor for real estate financiers, SitusAMC Group Holdings, has suffered a data breach, prompting major American banks and mortgage lenders to assess the impact. The FBI is also involved in the investigation.
Data BreachCyber SecurityReal Estate FinanceFbiSitusamcReal Estate NewsNov 23, 2025
The company learned of the intrusion on November 12 and is still assessing the scope and impact of the breach with outside experts and federal law enforcement. SitusAMC stated that it sent letters to customers on Saturday, informing them that the firm is fully operational and that the breach ‘is now contained’ and ‘did not involve encrypting malware.’
JPMorgan Chase & Co. and Citigroup Inc. were among the banks that received such notices, according to two people familiar with the matter. These individuals spoke on condition of anonymity due to the ongoing examination of the breach, which is also being investigated by the Federal Bureau of Investigation (FBI).
Representatives of Citi and Chase declined to comment on whether or how their banks were affected. The breach and the subsequent notices to the banks were first reported by the New York Times.
‘The FBI is aware of a cyber incident involving a third-party provider within the financial services sector,’ according to an FBI statement attributed to Director Kash Patel. ‘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 notified all of its residential mortgage customers that they may be affected but does not yet know the full extent of the breach, another person familiar with the matter said. The company confirmed it was hacked on November 15 and began notifying customers last week, the person added.
SitusAMC CEO Michael Franco stated that the breach is contained. ‘We remain focused on analyzing any potentially affected data and will provide updates directly to our clients as our investigation progresses,’ Franco said in a statement issued through a representative.
This incident highlights the ongoing threat of cyberattacks in the financial sector, where sensitive data is a prime target for malicious actors. Banks and financial institutions must remain vigilant and implement robust security measures to protect their clients' information.
Frequently Asked Questions
What happened in the recent data breach?
A technology vendor for real estate financiers, SitusAMC Group Holdings, LP, was hacked, resulting in the compromise of client data including accounting records and legal agreements.
Which banks were notified about the breach?
JPMorgan Chase & Co. and Citigroup Inc. were among the banks that received notices about the breach.
Is the breach still ongoing?
SitusAMC has stated that the breach is now contained, but the full extent of the impact is still being assessed.
What is the FBI's role in this investigation?
The FBI is aware of the cyber incident and is working closely with affected organizations and partners to understand the extent of the potential impact.
What steps is SitusAMC taking to address the breach?
SitusAMC is analyzing potentially affected data and will provide updates directly to clients as the investigation progresses. They have also notified all residential mortgage customers who may be affected.
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