NewRez has been the subject of several lawsuits in recent years, alleging various forms of misconduct, including:
- Deceptive and unfair mortgage servicing practices: Plaintiffs have alleged that NewRez has engaged in deceptive and unfair mortgage servicing practices, such as failing to properly communicate with borrowers, failing to process payments correctly, and charging excessive fees.
- Violation of state and federal consumer protection laws: Plaintiffs have alleged that NewRez has violated state and federal consumer protection laws.
- Negligent loan servicing: Plaintiffs have alleged that NewRez has been negligent in its loan servicing duties, which has caused borrowers to experience financial hardship.
In one notable case, a group of borrowers filed a class-action lawsuit against NewRez in 2022, alleging that the company had engaged in deceptive and unfair mortgage servicing practices. The plaintiffs alleged that NewRez had failed to properly communicate with borrowers about their loan accounts, had charged excessive fees, and had made it difficult for borrowers to resolve problems with their accounts.
The class-action lawsuit is still ongoing.
In another case, a borrower filed a lawsuit against NewRez in 2023, alleging that the company had been negligent in its loan servicing duties. The borrower alleged that NewRez had failed to properly process his payments, which had caused him to fall behind on his mortgage payments. The borrower also alleged that NewRez had failed to warn him about the consequences of falling behind on his payments.
The case is still ongoing.
NewRez has denied any wrongdoing in all of the lawsuits that have been filed against it.
The recent lawsuits against NewRez have raised concerns about the company’s mortgage servicing practices and its commitment to consumer protection. Some consumer advocates have called for stricter regulation of the mortgage servicing industry.
If you have had a negative experience with NewRez as a mortgage servicer, you may want to consider contacting a lawyer to discuss your legal options.
Here are some specific allegations in NewRez lawsuits:
- Borrowers have alleged that NewRez has failed to send them accurate and timely statements.
- Borrowers have alleged that NewRez has charged them excessive fees, such as late fees and NSF fees.
- Borrowers have alleged that NewRez has made it difficult for them to contact customer service and resolve problems with their accounts.
- Borrowers have alleged that NewRez has foreclosed on their homes without proper notice or justification.
If you have been affected by NewRez’s mortgage servicing practices, you may be able to file a lawsuit to recover compensation for your damages. You should contact a lawyer to discuss your legal options.
