Regulatory Alerts2026-08-12
Added · Updated
Illinois Joins $15.5 Million Settlement with Mortgage Servicer
NewRez LLC must pay $15.5 million to resolve allegations that it improperly imposed force-placed insurance costs on more than 4,200 borrowers nationwide who already had active homeowners insurance policies. The settlement requires the company to pay nearly $11 million in costs and penalties, in addition to the $4.5 million it previously remediated to impacted borrowers. NewRez is also mandated to implement enhanced monitoring for loans involving force-placed insurance and take other actions to strengthen internal controls.
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