Newrez has agreed to pay $15.5 million to resolve a multistate examination that found the mortgage servicer improperly charged some borrowers for lender-placed insurance despite having evidence of existing homeowners insurance, according to a settlement agreement signed Wednesday.

The settlement agreement, reached with state mortgage regulators in 46 states and the District of Columbia, includes $9.9 million in administrative penalties, $1.09 million in administrative costs and $4.51 million in consumer relief that Newrez has already paid.

The New York State Department of Financial Services said in a release on Wednesday that Newrez has returned $409,026 to affected New York details ⇒

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