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RMS Settles with NY Regulator for $1.5M Over Data Breach

Residential Mortgage Services will pay $1.5 million in a cybersecurity settlement with New York’s Department of Financial Services, the agency has announced.

!--more-->According to a consent order, RMS suffered a data breach but failed to disclose it to the regulator as required under state cyber rules.

RMS generated a record mortgage origination volume of $8.5 billion last year, according to a press release from the company.

Read the full announcement from New York’s Department of Financial Services.

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