Flagstar Bancorp, Inc.: Recent cyber incident highlights the vulnerabilities created by third-party vendors
Flagstar recently disclosed a cyber incident at one of the third-party vendors it uses for file-sharing, which compromised the personal data of some of Flagstar's customers.Flagstar Bancorp is a savings and loan holding company. The company's business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB. The company provides commercial and consumer banking services and originate mortgages. The company's operations are conducted through the following operating segments: Community Banking, which originates loans, provides deposits and fee based services to consumer, business, and mortgage lending customers; Mortgage Originations, which originates, acquires and sells one-to-four family residential mortgage loans; Mortgage Servicing, which services and subservices mortgage loans for others on a fee for service basis.
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