Date Received: 2022-07-07
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: After recently being declined for a new mortgage, my lender & I reviewed my credit report to find what is stopping me from approval. In XXXX I had a second mortgage with Ditech, the date of last payment was XX/XX/XXXX the account was charged-off and closed XX/XX/XXXX. As of recently Shellpoint Mortgage Servicing took over the charged-off account & reported the date of closing XX/XX/XXXX ( which is wrong ), those actions have cost me time & money by loosing out of my new home purchase. There are many issues with the reporting of this account : XXXX Wrong payment amount reporting, missing payment history XXXX Missing highest balance, missing payment history XXXXno terms XXXX date of last activity missing, missing highest payment I have tried to fix this directly with the credit bureaus with no resolution. If this matter does not get rectified, I will have no other choice to seek legal council.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 34638
Submitted Via: Web
Date Sent: 2022-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXXXXXX XXXX closed on my construction to permanent loan on XX/XX/XXXX with an interest rate of 3.3750 %. XXXX sold my loan to Shellpoint Mortgage Servicing with my payments to begin on XX/XX/XXXX. On XX/XX/XXXX, I discovered that Shellpoint had increased my 30 year fixed mortgage rate to 3.6250 %. I informed both XXXX and Shellpoint about the change in rate on XX/XX/XXXX. XXXX told me that Shellpoint had evidently made a mistake. After many phone calls to Shellpoint customer service, Shellpoint has not responded to me directly to correct the problem and customer service continues to tell me the rate is correct. How can a company change a fixed 30 year rate without some consequences?
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: GA
Zip: 302XX
Submitted Via: Web
Date Sent: 2022-07-07
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Shellpoint Mortgage Servicing is mailing my monthly statements to another address. I have contacted them twice and was told the mailing address in their system is correct, but the 3rd party vendor they use to send the billing statements obtains mailing addresses from the USPS and the error is in their database and Shellpoint is unable to correct this. This is unacceptable, it is not my fault USPS has a different address for me, and I have not been provided information on how to fix this other than to contact the USPS. This is a violation of TILA, and Shellpoint is knowingly allowing a 3rd party billing statement vendor to override what they tell them my mailing address is and allowing the vendor to send my personal private information to another address I have never lived at. They have no manual override process to stop this. This is now a violation of TILA as I am not receiving my monthly statements as requested, and GLBA as my Personal Identifiable Information it knowingly being sent to an address Shellpoint KNOWS is not my address in spite of asking them to correct this. I am demanding my billing address be updated in whatever database their 3rd party vendor is using, a list and copy of all documents not sent to my XXXX address and a year of credit protection to ensure my personal information is not used. I am seeking {$400.00} for each statement not mailed to my XXXX address for knowingly and willfully violating my rights under TILA
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: AZ
Zip: 85212
Submitted Via: Web
Date Sent: 2022-07-08
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-07
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: This is another complaint to Shellpoint 's response to complaint XXXX. Shellpoint has stated no new backup has been sent- they already have all the backup that they are not researching for proof of payment. XXXX XXXX XXXX has sent Shellpoint the {$52000.00} that was credited in error. Shellpoint has known for years the listed missing XXXX to XX/XX/XXXX were applied in error to the XXXX - XXXX payments that were credited in error. Shellpoint can not apply the XXXX - XXXX payments to the XXXX XXXX. Shellpoint won't accept the escrow payments sent, but the foreclosure papers state insurance and taxes must be paid if the property is in foreclosure. They also did not say they were processing the submitted loan modification application. Thank you
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92630
Submitted Via: Web
Date Sent: 2022-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My morgage co increased my hazard insurance from XXXX to XXXX I'm on a fixed income do I have any recourse they also won't give me a declaration page from the insurance Co or the phone number to the insurance Co what ate my choices
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: FL
Zip: 34691
Submitted Via: Web
Date Sent: 2022-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-07
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: My husband and I refinanced with NewRez in XX/XX/XXXX. NewRez held our previous mortgage which began in XX/XX/XXXX. At that time, we were given an estimated new monthly payment of {$3200.00}. We understood that this amount could change slightly as it was an estimate and it certainly would be impacted by any significant changes in our taxes. The taxes on this property have not changed significantly in over 10 years and remain steady at present. It has recently come to our attention that NewRez was grossly negligent in estimating our new escrow payment at closing in XX/XX/XXXX. We were estimated a monthly escrow payment of {$840.00}, which we have paid. This failure has created an almost {$3000.00} deficit in our escrow that was only flagged and acted on due to the annual escrow summary. NewRez failed to catch this error during the refinancing process, during closing in XX/XX/XXXX, and every month until XX/XX/XXXX. As such, we as consumers had no ability to adjust our finances in real time to account for NewRez 's error. Instead, NewRez allowed the error to stand and now wants us as the consumer to bear the burden of a grossly inflated monthly mortgage payment of {$4500.00}. Additionally, NewRez wants us to bear the burden of making up the {$8200.00} deficit created by their own negligent estimate. This means we would be absorbing an additional {$680.00} per month on top of the corrected escrow amount of an additional {$580.00}, for a total of {$1200.00} more per month than we were previously estimated and paying. To summarize, our payments were estimated to be and have been {$3200.00}. The new monthly payment is expected to be {$4500.00}. Our monthly estimate at closing was {$3200.00}. We should have been estimated {$3800.00}. This 20 % increase is beyond what a reasonable person would expect an estimate to shift. There is no other way to define this practice other than to call it predatory lending. Had we received the correct estimate, we may have opted not to refinance or may have gone with another lender. NewRez knowingly took away our ability to make a sound financial decision. And since their estimate was grossly deflated, our monthly payment is now estimated at {$4500.00}. I reached out to NewRez by phone on XX/XX/XXXX to file a complaint. I was told by a supervisor, XXXX, that our conversation would constitute a complaint. When I didn't receive any contact after 2 weeks, I called again on XX/XX/XXXX. At this time I was told that the complain was submitted but NewRez protocol is that a response is not provided. I was also informed that the complaint would not be followed up on until I write a complaint and then I would get a response in 5 to 7 days. I submitted the complaint on XX/XX/XXXX. On XX/XX/XXXX I received a letter stating that my new monthly payment would be {$3900.00}. There was no explanation in the letter as to how or why this payment was calculated but it remains {$130.00} more than what our mortgage payment should be.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NJ
Zip: 085XX
Submitted Via: Web
Date Sent: 2022-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-06
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This complaint is based on a mortgage servicing transfer to Shellpoint from XXXX in XXXX of 2022. This transfer occurred and the communication sent to me regarding the transfer was poor and through print only. I have attached the original letter which included only a statement that I did not receive and open until XX/XX/XXXX. The actual sale of ownership communication was not sent until XX/XX/2022. Please see attached document. When statement mail was received, I attempted to go online and set up my account. I was not able to do this initially because the transfer from old to new servicer Shellpoint had not been completed and I was instructed by the phone agent to try again in a few days. I did make my first payment over the phone on XX/XX/XXXX for the month of XXXX as I was under the impression that the XXXX payment had been made through XXXX, my previous mortgage company. The confirmation number is XXXX. The agent informed me that the system was not ready for recurring payment and account setup. I was instructed to return 5-7 days later to try again online. I returned a week later and attempted to set up recurring payments as instructed by the agent. I put in all of my account information and confirmed that the recurring payment was set up. The next month I assumed based on this action that my payment was being made based on the online account set up. In early XXXX, I looked at my account in XXXX and noticed the balance was higher than it should be. I checked and noticed the payment for my property had not been made. I called Shellpoint and learned that the payment had not been made for XXXX. I promptly inquired why the payment was not made and was informed that for some reason my account had not adequately been set up for recurring payments even though my account information was present when I checked online again. I had not been made aware that there was a late payment scenario. I went ahead and made two payments, one for XXXX and XXXX over the phone with the Shellpoint agent. See attached document. I also inquired if this missed payment would have a negative impact on my account or credit. I was informed that it would not. The agent on the phone informed me that I was still within the 90-day grace period for a new customer and the transfer to Shellpoint and that it would be fine since I made the two payments at once and was caught up. Again, I trusted the agent and assumed all was well. In XX/XX/2022, I was seeking a mortgage loan for an investment property and learned that I had in fact been reported for late payment by Shellpoint and my credit had taken a hit which was going to cost more to acquire the loan. This was surprising since I was previously informed by the Shellpoint agent that all was ok, especially since I was a new customer. Furthermore, I never received a notification or communication that I had been reported to the credit bureau for late payment. With this negative impact to my credit, I was now going to need to pay significantly more to get a better rate for the new mortgage loan. I promptly called Shellpoint. After talking to 3 people and 2 calls dropped while on hold and essentially getting 3 different answers from they would take care of it and we cant do anything, I escalated that call to a manager. The manager I talked to informed me that they could not do anything to remove or reverse the reporting. I asked for a thorough investigation at which time she said they would and I would hear back by mail in 7-10 days. I received a letter in the mailing which stated this issue was not reversible and that the report to the credit bureau would remain. I have filed a complaint with the CFPB based on XXXX XXXX I strongly feel this has resulted from inadequate digital and physical communication based on the transfer of the loan, inadequate time for software systems to sync and accounts to be set up, and poor handling of the situation by the agents and staff with whom I engaged with and which gave me different information and potential resolutions.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 78727
Submitted Via: Web
Date Sent: 2022-07-06
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-06
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: When I called my servicer and advised that my income was suffering due to covid 19. I was not offered a forbearance. All of the representatives I speak with are condescending and did not offer other options. I was told I received a one-month deferment ; I dont understand why I was not offered that when I was many months behind. The only option was a repayment plan which doubled my payments. Also, in XX/XX/2022 when she called in to make her repayment plan payment, her representative advised her she inadvertently removed the repayment plan and she had to start over with an initial payment of {$4500.00} vs the repayment amount of {$2300.00}. Why was I not offered a loan modification? They just tell me that its not an option but dont indicate a reason.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 601XX
Submitted Via: Web
Date Sent: 2022-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-06
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Back on XX/XX/22 I received a grant from XXXX XXXX XXXX XXXX XXXX XXXX. On XX/XX/22 that agency sent 1 of 4 payments of {$1100.00} to NewRez Mortgage company. Until Today XX/XX/22 the mortgage company can't locate the payment. The agency confirmed that they have wired the payment on XX/XX/22 and it was not returned. I contacted both the agency and the mortgage company many times to find out what happened and until today the issue remains unresolved. If the agency has proof of payment I demand that the mortgage company to apply the payment to my account.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07065
Submitted Via: Web
Date Sent: 2022-07-06
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-07-06
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I made a borrower requested PMI cancellation request due to improvements on XX/XX/XXXX to NewRez. I completed paperwork and submitted with a personal check for a XXXX XXXX XXXX ( XXXX ). I was denied the request for high LTV after their fresh valuation. I contacted requesting a copy of the XXXX I never received because I vehemently disagreed with the reason, so I expected to be able to see the calculation ( as they promised to provide ). Received another letter XX/XX/XXXX stating it was denied because they never received the paperwork. Responded disputing this new reason evidenced by the earlier letter saying I was denied after a fresh valuation due to high LTV and the fact they had processed my check for the XXXX and all documentation was sent together. XX/XX/XXXX received letter claiming all this was due to inadvertent errors on their part, XXXX was never ordered and they had now ordered ( 3 months later ). XXXX was completed on XX/XX/XXXX and was assured I would have a determination within 30-45 days. It has now been 54 days with no further correspondence on their part. They are impossible to contact directly and what I thought was poor internal controls and management I now believe is a delay tactic use for financial gain.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30324
Submitted Via: Web
Date Sent: 2022-07-06
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A