Which agency issued this update?

This update was issued by Ohio Department of Commerce, Division of Financial Institutions.

When was it published?

It was published on August 11, 2026.

Reglith

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Ohio Department of Commerce, Division of Financial Institutions · OH

Ohio Joins $15.5 Million Settlement with Mortgage Servicer, NewRez LLC\\ \\ The Ohio Department of Commerce Division of Financial Institutions, along with 47 other state financial agencies, has reached a $15.5 million settlement with one of the nation’s largest mortgage servicers for improperly imposing “force-placed” insurance costs on borrowers who already had active homeowners’ insurance policies.\\ \\ \\ August 14, 2026

August 11, 2026

Summary

Ohio's Division of Financial Institutions joined 47 other state financial agencies in a $15.5 million settlement with mortgage servicer NewRez LLC over improperly force-placing insurance on borrowers who already maintained active homeowners' policies. Settlement terms and remediation requirements are not detailed because the underlying source document returns a 404 page-not-found error. Servicers should treat improper force-placed insurance placement as an enforcement priority.

AI-generated summary · Aug 29, 2026. Verify with your compliance counsel before acting.

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Source: https://com.ohio.gov/wps/portal/gov/com/about-us/media-center/news/ohio-joins-settlement-with-newrez

Common questions

What does "**Ohio Joins $15.5 Million Settlement with Mortgage Servicer, NewRez LLC**\\ \\ The Ohio Department of Commerce Division of Financial Institutions, along with 47 other state financial agencies, has reached a $15.5 million settlement with one of the nation’s largest mortgage servicers for improperly imposing “force-placed” insurance costs on borrowers who already had active homeowners’ insurance policies.\\ \\ \\ August 14, 2026" cover?: Ohio's Division of Financial Institutions joined 47 other state financial agencies in a $15.5 million settlement with mortgage servicer NewRez LLC over…
Which agency issued this update?: This update was issued by Ohio Department of Commerce, Division of Financial Institutions.
When was it published?: It was published on August 11, 2026.

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**Ohio Joins $15.5 Million Settlement with Mortgage Servicer, NewRez LLC**\\ \\ The Ohio Department of Commerce Division of Financial Institutions, along with 47 other state financial agencies, has reached a $15.5 million settlement with one of the nation’s largest mortgage servicers for improperly imposing “force-placed” insurance costs on borrowers who already had active homeowners’ insurance policies.\\ \\ \\ August 14, 2026 — Reglith