A settlement of $15.5 million was reached with NewRez LLC over improper charge practices related to force-placed insurance. This impacted over 4,200 borrowers nationwide.
What changed
NewRez must enhance its monitoring and reporting processes alongside remediating affected borrowers.
Compliance perspective
Companies should evaluate their practices related to force-placed insurance and borrower protections.
Key date
Effective date: August 12, 2026.
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