Rhode Island to Receive $77,000 in Multistate Settlement with NewRez
Rhode Island is set to receive $77,000 from a $15.5 million multistate settlement with mortgage servicer NewRez.
Providence New Bedford, RI, September 28, 2026 —
Rhode Island is slated to receive $77,000 as part of a larger multistate settlement totaling $15.5 million. The settlement involves mortgage servicer NewRez. Details regarding the specific reasons for the settlement or the nature of the alleged violations by NewRez were not provided in the initial summary. Similarly, the exact timeline for when Rhode Island will receive its portion of the funds was not specified. The contractor’s name, if different from NewRez, was not provided.
This settlement is part of a broader action involving multiple states, indicating a coordinated effort to address issues with the mortgage servicing practices of NewRez. Such multistate agreements typically arise from investigations into complaints about how mortgage companies handle loan servicing, including aspects like escrow accounts, payment processing, and foreclosure procedures. The total amount of $15.5 million is being distributed among participating states, with Rhode Island’s allocation set at $77,000.
The mortgage servicer involved, NewRez, handles loan servicing operations for a significant number of homeowners. The lack of specific details in the summary means that the precise nature of NewRez’s alleged misconduct and the jurisdictions involved in the broader settlement are not public knowledge based on the provided information. The fine amount, if applicable beyond the settlement distribution, was not provided. The outcome of any inspections or code violations that may have led to this settlement was also not stated.
The $77,000 designated for Rhode Island will be allocated by the state. What happened next with these funds, such as how they will be disbursed or utilized, is not detailed in the summary. Reporting on multistate settlements often includes information about consumer restitution, regulatory oversight, or funding for state agencies. However, without further details from the source, it is not possible to specify how Rhode Island’s share will be applied.
Story summarized from the original created by Matthew McNulty on pbn.com, see more information here.
