Mortgage Sales Intern

Newrez hosts Build-A-Bike(R) combo event in Fort Washington, PA. Newrez hosted a leadership training and Build-A-Bike(R) combo event in Fort Washington, PA. 44 summer interns and Trail Team members attended at their headquarters on Aug. 5. The day was designed for the interns to leave having learnt real leadership skills. By the end, the group had put those lessons into practice, building bikes for kids through the Greater Philadelphia YMCA's Willow Grove Branch. Newrez is a mortgage lender headquartered based right in Fort Washington, Pennsylvania. They provide home loans and refinancing options to customers across the country. Newrez interns put leadership lessons to work in Build-A-Bike(R) combo event Fort Washington. The event was built specifically for Newrez's summer interns and Trail Team members. They had a clear goal. Send the interns off with leadership skills they could actually use, and give them a reason to want to come back to Newrez in a future role. That engagement carried straight through into the Build-A-Bike(R) portion. The group did an excellent job putting what they'd just learned into practice. Working together on the build with the same energy and focus they'd brought to the morning's activities. Proving that the lessons had actually landed, not just been heard. The finished bikes went to kids through the Greater Philadelphia YMCA's Willow Grove Branch. They serve the Hatboro, Pennsylvania community with fitness facilities, swim programs, youth programs, and childcare under its mission of connecting people to a healthier life. The Leaders Institute, LLC'd like to thank Newrez for allowing The Leaders Institute, LLC to be part of their leadership training event. The Leaders Institute, LLC would also like to thank the Greater Philadelphia YMCA's Willow Grove Branch for the incredible work they do for the community. If you're looking for a charity event to add to your next leadership meeting, contact The Leaders Institute, LLC about team-building events in Philadelphia.

North Dakota joins $15.5M settlement with mortgage servicer over force-placed insurance. The North Dakota Department of Financial Institutions joined financial regulators from 48 agencies across 47 states in reaching a $15.5 million settlement with NewRez LLC, one of the nation's largest mortgage servicers, over the company's improper use of force-placed insurance on borrowers who already had active homeowners insurance policies. The settlement, announced Wednesday and coordinated by the Conference of State Bank Supervisors, resolves findings from a multistate examination that NewRez had imposed force-placed insurance on more than 4,200 borrowers nationwide whose existing homeowners policies were still active, causing $4.5 million in consumer harm. NewRez, a Fort Washington, Pa.-based mortgage servicer owned by Rithm Capital, self-identified the problem and proactively paid $4.5 million in restitution to affected borrowers before the settlement was finalized. Under the terms of the agreement, the company will also pay $9.9 million in administrative penalties and approximately $1.1 million in costs to be distributed among the participating state regulators. NewRez is further required to implement new controls and conduct enhanced monitoring for loans with force-placed insurance, with an obligation to report to a state regulator executive committee if error rates exceed 5% during monitoring. "The penalties and enhanced monitoring requirements underscore the importance of meeting state requirements to protect consumers," said NDDFI Commissioner Lise Kruse. "Participating in these types of multi-state regulatory efforts illustrates the important role DFI plays in protecting the rights of North Dakota residents." Force-placed insurance is a policy purchased by a lender or servicer when a homeowner's coverage lapses, is cancelled or is deemed insufficient, and the borrower fails to secure replacement coverage. Lenders use it to protect their financial interest in the property, but the coverage typically costs significantly more than a policy a consumer would purchase independently. The District of Columbia led the enforcement team, with assistance from Arkansas, Iowa, Massachusetts and Montana. Washington state did not participate in the multistate settlement, instead pursuing a separate enforcement action against NewRez over what it described as more extensive alleged violations of state law. North Dakota residents with questions about the enforcement action can contact NDDFI Deputy of Non-Depository Division Jan Murtha at [email protected] or call (701) 328-9933.

NewRez reaches $15.5M settlement over improper home insurance charges. The Herald-Mail Aug. 14, 2026, 11:12 a.m. ET * Mortgage servicer NewRez reached a $15.5 million settlement with 47 jurisdictions over improper insurance charges. * The company was accused of charging borrowers for force-placed insurance, even when they already had coverage. * Over 4,200 affected borrowers nationwide will receive a total of $4.5 million in restitution. * NewRez will also pay $11 million in penalties and costs and must enhance its internal controls. Mortgage servicer NewRez has reached a $15.5 million settlement with Maryland and 46 other jurisdictions regarding the company improperly charging borrowers for force-placed insurance, according to the Maryland Department of Labor. "The settlement resolves findings that NewRez improperly charged borrowers for force-placed insurance even when those borrowers already had active homeowners insurance coverage, adding costs on top of the mortgage payments families were already covering," the release states. Marylanders with questions about the NewRez enforcement action should contact Assistant Commissioner of Enforcement Dana Allen at [email protected], the release states. Residents also can visit NMLS Consumer Access to verify a company is licensed to do business in Maryland and to view past enforcement actions. NewRez LLC is one of the country's largest mortgage servicers. It may be known to Maryland borrowers through Shellpoint Mortgage Servicing, its servicing brand. Maryland also will get about $300,000 in civil penalties, which is the 9th highest penalty amount among the 46 states and D.C. participating in the settlement. "Our Office of Financial Regulation is holding financial companies accountable and getting money back for Maryland families," Maryland Labor Secretary Portia Wu said in the release. "Marylanders trust that when they pay their insurance premiums, they won't also be billed a second time for coverage they never needed," Maryland Commissioner of Financial Regulation Antonio P. Salazar said in the release. "This settlement holds NewRez accountable and puts real money back in the pockets of Maryland homeowners," Salazar said. "Force-placed insurance is often required when a homeowner's policy is cancelled, delinquent, or insufficient in coverage and the borrower has not secured replacement coverage. When necessary, a lender, bank, or loan servicer may force the replacement coverage to protect its financial interest in the property, but this coverage is typically significantly more costly than a policy the consumer secures on their own," the release states. NewRez, based in Pennsylvania, worked with state regulators to identify and remediate the issue. The company will return $4.5 million to over 4,200 affected borrowers across the U.S. NewRez also will pay another $11 million in costs and penalties. The company "will be required to implement and conduct enhanced monitoring of loans with force-placed insurance and to strengthen internal controls," the release states. "NewRez neither admits nor denies allegations that it engaged in any wrongdoing or that it violated any applicable laws, regulations, or rules at issue here, as well as with respect to any conduct related to persons identified for redress or remediation in connection with this Agreement," according to the consent order posted at the New York State Department of Financial Services' website. The consent order lists administrative penalties, $9.9 million in total, that NewRez is to pay to each participating state and D.C. based on a formula agreed to by the participating jurisdictions. Those administrative penalties, rounded to the nearest dollar, include: * Maryland: $294,226 * Delaware: $79,396 * District of Columbia: $81,706 * Pennsylvania: $211,066 * Virginia: $233,396 * West Virginia: $77,086 Another almost $1.1 million is to be paid to a group of 12 jurisdictions that participated in the examination and settlement negotiations process, according to the consent order. That includes $109,063 for D.C. and $87,063 for Pennsylvania.