NewRez faces mounting legal challenges over alleged deceptive servicing practices, consumer protection violations, and loan servicing negligence. These lawsuits raise concerns about borrower treatment and industry regulations.
| Complete Date | Case | Citation | Court | Short Summary |
|---|---|---|---|---|
| 2022 | Class-Action Lawsuit | Not publicly available | California District Court | Borrowers allege NewRez’s unclear communication, excessive fees, and obstructive problem-solving tactics constitute unfair and deceptive servicing practices. Case ongoing. |
| 2023 | Individual Lawsuit | Not publicly available | Florida Circuit Court | Borrower claims NewRez’s payment processing errors, lack of delinquency warnings, and overall negligence led to financial hardship. Case ongoing. |
| Various | Additional Lawsuits | Not publicly available | Various Courts | Specific allegations include: – Inaccurate and delayed statements – Excessive late and NSF fees – Difficult customer service contact and issue resolution – Potentially unfair foreclosures |
- Deceptive and Unfair Servicing: The 2022 class-action lawsuit highlights NewRez’s communication issues, excessive fees, and cumbersome problem-solving methods as deceptive and unfair practices.
- Consumer Protection Violations: Plaintiffs argue NewRez’s actions violate state and federal consumer protection laws meant to safeguard borrowers.
- Negligent Loan Servicing: The 2023 individual lawsuit focuses on NewRez’s alleged negligence in payment processing, lack of delinquency warnings, and overall loan servicing conduct.
- NewRez’s Response: The company denies any wrongdoing in all lawsuits.
- Industry Concerns: These lawsuits raise concerns about NewRez’s servicing practices and potential systemic issues within the mortgage servicing industry. Consumer advocates call for stricter regulations to protect borrowers.
If you’ve had negative experiences with NewRez:
- Consider contacting a lawyer to discuss legal options.
- You may be eligible for compensation if affected by NewRez’s alleged servicing practices.
Note: This information is based on publicly available details and does not constitute legal advice. Always consult a lawyer for legal matters.
