Date Received: 2024-01-17
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Mortgage company Newrez acquired my loan holder company called XXXX XXXX loans. My homeowners insurance is paid out of a escrow account. Newrez did not make the payment to XXXX XXXX XXXX and my policy was cancelled due to lack of payment. Per Newrez they attempted to call XXXX XXXX XXXX at XXXX on XX/XX/scrub>XXXX XXXX and XX/XX/scrub>XXXX XXXX was left to get billing information. Newrez also faxed a letter requesting the billing information to XXXX, no reply was received from XXXX XXXX XXXX At no point after Newrez identified that there was a problem paying the homeowners insurance policy did they try to contact me the homeowner, not by phone, Email, or paper mail. my previous insurance carrier will not underwrite a new policy for my home, so I have to obtain a new policy. This will require me to pay money to get a new inspection among other costs. I do not believe that Newrez is operating with the best interests of it's customers and was eager to make money by charging me for their home insurance a a higher rate. my deed of trust page 11 section 20 may show that Newrez is obligated handle my policy, it is attached
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94928
Submitted Via: Web
Date Sent: 2024-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-17
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I am a 100 % service connected Veteran, and in the state of FL this makes my property tax exempt. I have confirmation of NewRez receiving my tax exemption on XX/XX/XXXX and again on XX/XX/XXXX. They still continue to collect hundreds of dollars every month that I do not owe. On XX/XX/XXXX XXXX XXXX with NewRez told me that if I get her my XXXX tax notice with the non-ad Valorem taxes she would work with the tax department to correct it. I instead got a bill showing my mortgage going up. I called again yesterday and today. No one is willing to correct it. XXXX XXXX who identified as a supervisor in the tax department started threatening me as soon as he got on the line. They are mismanaging my VA loan and illegally charging me more than what I owe.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33544
Submitted Via: Web
Date Sent: 2024-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-17
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I HAVE RECEIVED FUNDING FROM XXXX XXXX HAF PROGRAM TO PAYOFF AND ESCROW SHORTAGE. THE FUNDS WERE SENT ACH ON XX/XX/. SHELLPOINT RECEIVED THE FUNDS ON XX/XX/. ON XX/XX/XXXX AND WAS TOLD THAT THE FUNDS WILL BE APPLIED TO THE ACCOUNT, AND AT THIS TIME THE GOVERNMENT FUNDS HAVE NOT BEEN APPLIED TO THE ACCOUNT. ATTACHED T THIS COMPLAINT IS A REQUEST LETTER OF HOW THE FUNDS SHALL BE DESPERSED ACCOMPANIED WITH THE LETTER FROM XXXX XXXXXXXX OF HOW MUCH MONEY THAT I HAVE RECEIVED. I AM REQUESTING A FULL INVESTIGATION AS TO WHY SHELLPOINT IS HOLDING THE MONEY AND IS NOT APPLYING THE FUNDS. I AM ALSO SEEKING LEGAL REPRESENTATION BECAUSE I CONSTANTLY HAVE REOCCURRING PRBLEMS WITH SHELLPOINT MORTGAGE. PLEASE ADDRESS THIS ISSUE ACCORDINGLY, XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33556
Submitted Via: Web
Date Sent: 2024-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-12
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Hi, We have summited to our bank proof of insurance more then 2 months ago and they keep charging us for insurance and not refunding the escrow.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2024-01-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-12
Issue: Trouble during payment process
Subissue: Private mortgage insurance (PMI)
Consumer Complaint: Subject : Request for Immediate Action on PMI Removal and Escrow Recalculation from my mortgage. I am writing to express my concern and dissatisfaction with the recent experiences I have had with my lender NewRez Llc. I believe that the practices currently in place are not only causing undue financial strain but also seem to be contrary to the principles of fair lending and they are becoming predatory lending because it affect my capacity to pay the mortgage. On XX/XX/2023, I requested the removal of the Private Mortgage Insurance ( PMI ) from my mortgage. However, I was informed that I would need to pay for a new appraisal. The cost of this appraisal negates the very purpose of my request, which is to reduce my expenses. In light of this, I made a second request on XX/XX/2023, for the removal of the PMI. In this communication, I also asked for specific references to the law, rule, or clauses in my loan contract that necessitate a new appraisal for PMI removal. I am yet to receive a satisfactory response to this query. Prior to my request for PMI removal, I received several emails from NewRez indicating that the market price of my house is {$430000.00} and above which they want to use as market offering me a re financing since they knows that I have positive equity in my loan. The price of {$430000.00} would make my Loan-to-Value ratio ( LTV ) significantly less than the 80 % threshold required for PMI removal. It's worth noting that my LTV was less than 80 % even at the time of loan approval, with a loan amount of {$310000.00} against an appraised value of {$390000.00}. My property has not suffered any damage, as can be verified through public records. On the contrary, I have made several improvements to my house, which should ideally increase its value. Another issue of concern is the handling of my escrow account. Despite a reduction in my house insurance premium fees in XX/XX/2023, there was no corresponding decrease in my escrow payments. I was informed that NewRez recalculates the escrow only once a year in XXXX. This predatory lending practice results in me paying more towards escrow than necessary, creating unnecessary problems in my capacity to pay the loan. These issues collectively create an environment that makes it challenging for customers to manage their mortgages. It gives an impression of predatory lending practice.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 180XX
Submitted Via: Web
Date Sent: 2024-01-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-16
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: XX/XX/2023 installment payment was reported to the 3 consumer reporting agencies as 30-day delinquent when payment was made in accordance to the guidelines of the lender. Information has been provided in the attached document.
Company Response:
State: CO
Zip: 802XX
Submitted Via: Web
Date Sent: 2024-01-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-16
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Received a statement from Shell point Mortgage showing that my mortgage will jump over {$800.00} more a month due to a negative balance in escrow. There never has been a negative balance and always enough money in there. I have tried repeatedly to ask where and who the money went to out of escrow. It looks like several thousand was taken out
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32909
Submitted Via: Web
Date Sent: 2024-01-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-13
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I am filing a SECOND complaint about a new ( THIRD ) harassing letter I received from NewRez claiming i did not have HOA insurance ( i do and always have ) in which they threaten to buy me Hazard Insurance and bill me for it. This is very similar to the complaint I filed a few months ago. After sending them MORE copies of my insurance, they closed that old complaint. But just one month later, NewRez mailed me a NEW LETTER dated XX/XX/XXXX claiming the HOA had expired and they were going to buy me insurance. I contacted my lender and confirmed that our coverage had NEVER EXPIRED. It has been renewed and we continue to make payments. They submitted proof ( AGAIN ) of this online to NewRez.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: CA
Zip: 94115
Submitted Via: Web
Date Sent: 2024-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-13
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: I closed a conventional home loan ( XXXX yr ) with XXXX XXXX in XXXX, the loan was transferred to be processed by NewRez in XXXX of XXXX. After my loan was transferred I am NOT ABLE TO access my loan online on NewRez.com or through the app, this is causing me inconvenience as I need to change online payment amount and bank, I have contracted XXXX customer service at least XXXX times in the last XXXX weeks -- they are completely clueless, incompetent and unable to fix. this problem I have send several emails to XXXX with my load details and haven't heard ANYTHING back NewRez needs to either fix this issue & give me monetary credit for my time, energy or transfer the loan to another processing company immediately ( by XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94506
Submitted Via: Web
Date Sent: 2024-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-12
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Approximately XXXX days ago, I received an escrow statement from my mortgage company ( NewRez ). While reading it, I noticed that the charges for my escrow ( taxes and insurance ) went from {$32.00} all the way to {$220.00}. And, if I don't pay the {$220.00} by XX/XX/XXXX, this amount will be added to my regular mortgage payment of {$460.00} ; this is not right. My common senses tell me that NewRez is trying to XXXX me over any way they can. This is the fourth year I have had issues with this company. It does no good to call them, therefore the only recourse is to make a complaint, which I feel is legitimate. By the way, I want to mention that my mortgage was unfortunately sold to this lousy company. I have lived in my condo for 20 years, and I have never had issues with my former mortgage lender ( XXXXXXXX XXXX ). Unless I have an adjustable mortgage, which I do not have, my mortgage payments should not balloon up. There is no way I can afford a huge increase in a mortgage, while dealing with a huge increase in my maintenance fee and condo insurance. I know that the escrow ties into the flood hazard insurance and taxes that my condo association pays. I have sent NewRez proof of this over and over. During my first year in my condo, I was informed that whenever there is a shortage ( which should be a small amount ), my mortgage payments will increase just a few dollars. What is questionable is a shortage that is close to {$1000.00}. This is extremely upsetting! I also want to add that I forgot that I was referred to your office for a resolution. I have made several complaints to the XXXX. I really wish more and more people would file complaints because there is strength in numbers. Posting negative reviews does no good. Attached is some information for your review. I look forward to hearing from you. Thank you for your time.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33063
Submitted Via: Web
Date Sent: 2024-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A