Delayed closing resulting from a previous cyber incident is anticipated to have a detrimental impact on First American’s financial performance in the fourth quarter. The company, a significant player in the mortgage industry, may face challenges due to this setback. Despite First American’s past achievements, the effects of the delayed closings are expected to be reflected in weakened financials at the end of the year.
Key points:
– First American’s delayed closings stemming from a cyber incident in December 2023 will affect its fourth-quarter financials.
– These delays are expected to have an adverse impact on the company’s overall performance.
– First American’s reputation and standing in the mortgage industry could be compromised due to the effects of the delayed closings.
– The weakened financials in the fourth quarter will be reflective of the challenges the company is currently facing.
You can read this full article at: https://www.housingwire.com/articles/first-american-cyber-incident-expected-to-impact-q4-2023-financials/(subscription required)
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