I need to read more about it, but from what I see at this point: Mr Cooper is a mortgage company who’s “third party vendor” withdrew large sums of money, cleaning out the accounts of over 480,000 homeowners overnight through repeated unauthorized withdrawals. Mr Cooper says “it’s third party vendor inadvertently issued multiple incorrect mortgage drafts while testing it’s system”.
Customers are outraged. Banks are struggling to make investors whole. Mr. Cooper not answering their phones, The CFPB is investigating.
Who is Mr. Cooper’s third party vendor? ACI Worldwide, who entered into a strategic partnership with Mindgate Solutions approx 2 years ago. Guess where Mindgate Solutions is headquartered? Mumbai.