Onity Group Seeks Judicial Clarification of New York Mortgage Servicing Regulation, Issues Statement

Onity Group filed a declaratory judgment action in the U.S. District Court for the Northern District of New York seeking clarification of a mortgage servicing regulation governing optional expedited payment fees. The company argues the regulation's 'reasonably related to the cost' standard has never been defined in nearly seven years, depriving it of fair notice required by the U.S. Constitution.

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