The Washington State Department of Financial Institutions (DFI) filed a statement of charges against multichannel mortgage lender Newrez, alleging repeated servicing violations between 2021 and 2026. It seeks a fine of about $4 million and broad consumer remediation.

DFI said the action, announced Monday, follows an in-depth investigation of more than 125 consumer complaints involving the large nonbank servicer. The agency said it found “significant deficient business practices” that allegedly harmed Washington borrowers.

In a statement given to HousingWire, a Newrez spokesperson said the company was not given prior notice of the charges and intends to contest the details ⇒

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