Flagstar Bank, headquartered in Troy, Michigan, and a wholly owned subsidiary of New York Community Bank, is a significant player in the US residential mortgage servicing industry. The breach, however, did not directly target Flagstar Bank itself. Instead, it originated from a breach at a third-party service provider, Fiserv, which offers payment processing and mobile banking services to the bank. Fiserv was a victim of the large-scale MOVEit campaign orchestrated by the Russia-linked ransomware group known as Cl0p.