Sage Home Loans $925,000 Data Breach Settlement

If you previously received a notice from Sage Home Loans Corporation (SHLC) indicating that your personal information may have been compromised due to suspicious activity on their network, you might be eligible to claim up to $1,500 from a class action settlement.

Sage Home Loans Corporation has agreed to pay $925,000 to resolve a class action lawsuit concerning alleged unauthorized access to personal information.

Who Can Claim a Payout?

To be part of this settlement, you must meet the following criteria:

• You are a living individual residing in the United States.
• Your personal information was impacted by the data incident involving SHLC.

The settlement class includes approximately 133,987 individuals whose personal information was held by SHLC at the time of the incident.

How Much Are the Payouts?

Class members can claim different types of compensation based on their circumstances:

• Compensation for Ordinary Losses: Up to $1,500 for unreimbursed losses directly linked to the data incident. Documentation is required to support these claims.
• Compensation for Lost Time: $25 per hour for up to five hours, totaling $125, for time spent addressing issues related to the incident.
• Alternate Compensation: A flat payment of $50 instead of the above options.

The settlement fund is subject to pro rata adjustments. If the total claims exceed the settlement fund, payments may be reduced proportionally. Conversely, if claims do not exhaust the fund, payments may be increased.

Example of Pro Rata Calculation

Suppose the total valid claims amount to $1,000,000, but the settlement fund is only $925,000. Each claimant's award would be reduced by a factor of 0.925 ($925,000 / $1,000,000). Conversely, if the total claims amount to $800,000, each claimant's award could be increased by a factor of 1.15625 ($925,000 / $800,000).

Proof Required to Submit a Claim

• Ordinary Losses: Requires documentation such as receipts.
• Lost Time: Requires an attestation describing the actions taken.
• Alternate Compensation: No additional documentation required.

How to Submit a Claim

To file a claim, you can submit a claim online or download the PDF claim form and mail it to SHLC Data Incident Action, c/o Kroll Settlement Administration LLC, PO Box 225391, New York, NY 10150-5391. Ensure your claim is submitted online or postmarked by March 13, 2025.

Claim Instructions

1. Visit the settlement website and access the claim form.
2. Complete the form with your personal information.
3. Attach necessary documentation for ordinary losses.
4. Submit the form online or mail it by the deadline.

Payment Methods

• Electronic transfer
• Check

$925,000 Settlement Fund

The settlement fund of $925,000 will cover:

• Payments to class members for valid claims
• Attorneys' fees and costs, capped at $308,333
• Service awards of up to $5,000 for each class representative

Important Dates

• Deadline to File a Claim: March 13, 2025.
• Final Approval Hearing: June 18, 2025.

When Is the SHLC Data Incident Settlement Payout Date?

The court will hold a final approval hearing on June 18, 2025. If approved, the settlement will proceed, and payments will be made to eligible claimants assuming there are no appeals.

Why Is There a Class Action Settlement?

The lawsuit alleges that SHLC failed to protect personal information, leading to unauthorized access. SHLC denies wrongdoing but agreed to settle to avoid further litigation costs.