Mortgage Investors Group has agreed to a proposed class action settlement for people whose personal information was implicated in a December 2024 cyberattack on the mortgage lender’s computer systems. The court-authorized notice says class members may request one year of financial monitoring, reimbursement of up to $2,000 for documented losses, or a $45 alternative cash payment. Claims must be submitted online or postmarked by November 19, 2026.
Mortgage Investors Group, commonly called MIG, is a Tennessee-based mortgage lender. Consumers provide mortgage companies with sensitive identity and financial information when they apply for or manage home loans. MIG’s own privacy materials say a mortgage application may involve information such as a borrower’s address, date of birth, Social Security number, income, employment details, and bank information. That consumer relationship explains why the December 2024 network incident created potential privacy and financial risks.
The lawsuit is White v. Mortgage Investors Group, Inc., Case No. 25-0350-III, pending in the Chancery Court for Davidson County, Tennessee. The settlement resolves disputed allegations without a trial. MIG denies wrongdoing, and the court has not decided that MIG violated the law or caused anyone a loss.
Key facts The settlement covers people whose personally identifiable information was implicated in the MIG data incident. Claims are due November 19, while requests for exclusion and objections are due October 20. The court still must decide whether to grant final approval.
What happened in the Mortgage Investors Group data incident?
MIG’s official incident notice says the company discovered on December 12, 2024 that an unauthorized person had accessed its computer systems using stolen employee credentials. According to MIG, the unauthorized access occurred between December 11 and December 12, 2024, and the company ended the access on the day it detected the activity.
MIG says it secured its systems, hired independent cybersecurity professionals, investigated the scope of the incident, reported it to law enforcement, and added safeguards to its network. The company then reviewed the affected files to identify the people and information involved before mailing notification letters on December 30, 2025.
The information varied by person. MIG’s incident notice says it may have included a name together with a driver’s license number, Social Security number, bank or financial account information, or other limited personal or financial data. The notice also says not every data type applied to every notified person.
The proposed class action alleged that files containing private information were accessible during the attack. An allegation is a claim made by a party in a lawsuit; it is not a court finding. MIG’s incident notice says the company had no evidence at the time of that notice that personal information had been misused and had received no reports of identity theft connected to the incident.
The allegations remain disputed The settlement does not establish that MIG failed to protect data or that the incident caused a particular person financial harm. MIG denies wrongdoing, and the court has not ruled for either side.
Who may qualify for the MIG settlement?
The court-authorized notice defines the settlement class as all individuals whose personally identifiable information was implicated in the data incident involving Mortgage Investors Group.
Personally identifiable information, often shortened to PII, means information that identifies a person or can be linked to that person. The controlling settlement materials use MIG’s records to identify the people included. The official website says that people who received settlement notice were identified as class members entitled to request benefits. Some class members may also have received MIG’s earlier data-incident notice.
The class excludes MIG and its officers and directors, governmental entities, the judge assigned to the case and the judge’s family and staff, and anyone who validly excludes themselves from the settlement.
Receiving a notice is an important indicator, but it does not guarantee that a claim will be approved or that a particular payment will be issued. The settlement administrator will apply the court-approved class definition, claim requirements, and documentation rules. A person who believes they are included but lacks a notice or claim credentials should contact the administrator through the official settlement website rather than relying on a third-party eligibility estimate.
What benefits does the settlement offer?
The settlement offers one year of financial monitoring and two alternative cash paths. A class member must submit a valid, timely claim to receive any settlement benefit.
One year of financial monitoring
All class members may request one year of CyEx Financial Shield Complete. The court-authorized notice says the service includes monitoring for fraud or identity theft, unauthorized financial transactions, and personal information associated with high-risk transactions. It also includes access to a fraud-resolution agent and $1 million in financial-fraud insurance, subject to the service terms.
This settlement benefit is separate from any monitoring MIG offered with its original incident notice. Class members should follow the current settlement claim form and administrator instructions when selecting benefits.
Up to $2,000 for documented losses
A class member may request reimbursement of up to $2,000 for actual, documented out-of-pocket losses caused by the data incident. Eligible losses must have occurred between December 12, 2024 and November 19, 2026.
The notice lists examples such as losses from identity theft or fraud, unauthorized financial transactions, fees for credit reports or credit monitoring, costs to freeze or unfreeze credit, replacement identification costs, and postage used to contact financial institutions. The expenses cannot already have been reimbursed by another source.
Claimants must submit supporting evidence, such as receipts or bank statements, showing the amount and the claimed connection to the incident. Notes prepared by a claimant may help explain other records, but the notice says self-created notes alone are not enough to validate a reimbursement request.
A $45 alternative cash payment
Instead of other payments, a class member may claim a one-time $45 alternative cash payment. The official FAQ says no proof or explanation is required for this option. It is an alternative to documented-loss reimbursement, not an additional payment on top of it.
Choose one cash path The notice offers either reimbursement of documented incident-related losses up to $2,000 or a $45 alternative cash payment. The official claim form controls the selection.
Why payments could be reduced
The settlement materials describe MIG’s total obligation as capped at $925,000. That cap includes class benefits, settlement administration costs, and litigation fees and expenses. If the total value exceeds the cap, payments will be reduced proportionally so the combined amount does not exceed $925,000.
A proportional, or pro rata, reduction means approved claim payments would be lowered by the same relative method rather than paid above the cap. The final amount cannot be known before claims are reviewed. The court-authorized materials therefore do not guarantee that every approved documented-loss claim will receive the full amount requested or that every alternative-cash claimant will receive an unreduced $45.
The notice says class counsel plans to request up to $270,000 for attorneys’ fees and litigation costs, paid by MIG, and a $2,500 service award for the class representative, also paid by MIG. The court will decide whether to approve those requests.
The $925,000 figure is a cap, not a guaranteed payout pool Administration, approved legal expenses, and class benefits count toward MIG’s maximum obligation. Approved benefits may be reduced if the combined value exceeds that amount.
How to file a Mortgage Investors Group settlement claim
Claims can be filed through MIGDataSettlement.com, the court-authorized settlement website. The site also provides a paper claim form that can be printed and mailed to the settlement administrator.
Online claims must be submitted by November 19, 2026. Paper claim forms, including any required supporting documents, must be postmarked by the same date.
A claimant requesting documented-loss reimbursement should gather records showing the expense, amount, date, and connection to the incident. A claimant choosing the alternative cash payment does not need to document a financial loss but must still complete a valid and timely claim form. The financial-monitoring benefit must also be requested through the settlement process.
There is no fee to submit a claim. Class members should use the official website and avoid services that charge to file or request unnecessary passwords. Submitting a form does not guarantee approval. The administrator may review class membership, timeliness, completeness, supporting records, and possible duplicate or fraudulent claims.
What are the October 20 deadlines?
The deadline to exclude yourself from the settlement is October 20, 2026. Exclusion, also called opting out, means leaving the settlement class. A person who validly opts out receives no settlement benefit but generally keeps the ability to pursue their own claim about the released issues, subject to applicable law and deadlines.
Objections are also due October 20, 2026. An objection tells the court why a class member believes the proposed settlement should not be approved or should be changed. Objecting is not the same as opting out: an objector remains in the class and may submit a claim, while a person who opts out cannot receive settlement benefits or object as a class member.
The long-form notice contains detailed mailing, filing, and service requirements for exclusions and objections. Anyone considering either option should use the controlling notice rather than a summary.
The rights deadline arrives first Exclusion and objection requests are due October 20, 2026—30 days before the November 19 claim deadline. Each choice has different legal consequences.
What happens next?
The court scheduled a final approval hearing for November 10, 2026 at 11:00 a.m. Central Time in Courtroom 407 of the Chancery Court for Davidson County, Tennessee. The date or format may change, so class members should check the official settlement website for updates.
At the hearing, the court will consider whether the settlement is fair, reasonable, and adequate. It will also consider properly submitted objections, the request for attorneys’ fees and costs, and the proposed service award.
Benefits will not be distributed unless the court grants final approval. Appeals, if any, could delay distribution. The current materials do not announce a guaranteed payment date.
Doing nothing results in no settlement benefit. Unless a class member validly opts out, doing nothing also leaves that person bound by the settlement’s release if the agreement becomes final. The settlement agreement and long-form notice contain the controlling terms.
This article provides general information, not legal advice. Class Action Pulse cannot determine whether a particular person qualifies, whether documentation is sufficient, or what payment an approved claimant will receive.