NewRez Forced Insurance Scandal | Chicago News

A shady mortgage company, NewRez, got caught forcing expensive insurance policies on homeowners—many of whom already had coverage—leading to a nationwide scandal affecting 4,200 people. Facing investigations from multiple states including Illinois, Arkansas, Iowa, Massachusetts, and Montana, NewRez agreed to a $15.5 million settlement: $4.5 million will be returned to affected borrowers, while the rest covers penalties and enforcement costs. This case underscores how regulators are stepping up to protect consumers and hold financial institutions accountable when they try to exploit homeowners’ most valuable asset—their home. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2e81028acc3521f6