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Anti-Modern-Day Slavery and Human Trafficking Policy

Read Time: 10 Minutes Date Published: October 16, 2023

Newrez LLC (“the Company”) supports the international effort to reduce workplace mistreatment practices, human trafficking, and modern-day slavery defined by the Trafficking Victims Protection Act by employing a zero tolerance policy towards these practices.

 

The nature of the Company’s operations is primarily loan originations and servicing, where our actions, employees, and products are subject to federal and state regulation. As a Company, we are committed to upholding the highest standards of employment practices. Our employees are required to adhere to and assist with the enforcement of our Professional Conduct Policy and are empowered to raise concerns or report violations through our Ethics Hotline. Internally, the Company’s HR Business Partner team, Community Investment team, and Legal department review employment practices to promote a diverse, fair, and positive workplace. The Company is committed to preventing modern day slavery and human trafficking violations in its own servicing, originations, shared services operations, and products.

 

The Company requires our vendors to comply with the Anti-Modern-Day Slavery and Human Trafficking Policy and our Code of Conduct. In the interest of environmental impact and diversity, Newrez updated an annual assessment to review our vendors’ supply chain operations and policies in November 2022. As of August 2023, Newrez expanded the existing assessment to include a modern-day slavery and human trafficking examination. As a condition of working with the company, vendors are held to the same legal and ethical standards as our employees.

 

We are committed to continue to monitor the risk and mitigate our exposure wherever possible.

 

 

Baron Silverstein

President, Newrez LLC

October 2023

 

Learn more in our other educational series.

We’ve assembled a treasure trove of jargon-free information to demystify home-financing and arm you with valuable insights and actionable options.

Disclosures

By refinancing an existing loan, the total finance charges may be higher over the life of the loan.

††The rate on your existing mortgage will not change. The Newrez Home Equity Loan program requires borrower to obtain a second mortgage at current market rates. Loan amount based on underwriting guidelines. Minimum 660 credit score. Minimum and maximum loan amounts apply. Program financing only available on properties with one existing mortgage lien and subject to maximum loan-to-value ratio. Not available in all states or territories. Other terms and restrictions apply. Please contact us for more information.

^ This HELOC is an open-end line of credit, available on owner occupied properties, where 75% of the approved full credit limit (minus the origination fees) will be drawn at the time of closing. Additional draws may be available after a 90-day period within the first 3 years not to exceed the available credit limit. Actual rates available to you may vary based on several factors including your credit score and combined loan-to-value. Loan amounts range from $50,000 to $350,000. We may determine home value and resulting equity through independent data sources and automated valuation models. An appraisal may also be required. Only available for eligible borrowers and property types. Not all applicants will be approved, pre-approval is based on data you have provided and certain assumptions that must be verified and subject to underwriting approval. Not available in all states or territories. Contact Newrez for more information.

This is not a commitment to lend. All loan programs are subject to credit, underwriting, and property approval. Programs, rates, terms and conditions are subject to change without notice. Other restrictions apply.