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  • This page, State Financial Regulators Reach $15.5 Million Settlement with Mortgage Servicer NewRez, LLC, is   offered by
  • Division of Banks
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News  State Financial Regulators Reach $15.5 Million Settlement with Mortgage Servicer NewRez, LLC

Company Wrongly Charged Customers Force-Placed Insurance
8/12/2026
  • Division of Banks

The Massachusetts Division of Banks was a lead state agency along with Washington, DC, Arkansas, Iowa, and Montana on a forty-eight state $15.5 million settlement with NewRez, LLC, one of the nation’s largest mortgage servicers for improperly imposing “force-placed” insurance costs on borrowers who already had active homeowners insurance policies. For more information, see the Conference of State Bank Supervisors press release.

  • Division of Banks

    The Division of Banks (DOB) is the chartering authority and primary regulator for financial service providers in Massachusetts. DOB's primary mission is to ensure a sound, competitive, and accessible financial services environment throughout the Commonwealth.

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