Date Received: 2022-03-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I paid off my mortgage loan on XXXX XX/XX/2022. I wired {$330000.00} to NewRez. This represents an overpayment based on the debt reported on my credit report of {$320000.00}. I called NewRez and that they stated that a underpayment was received and this delayed settling the loan. They calim to have received roughly {$10000.00} less than I sent. I have now emailed them repeatedly and they do not reply to my requests for information and updates. It is now XXXX XXXX, more than a month later, and the debt still shows on my credit report and I have received no communication from newRez. i have also not received any money that is still owed to me for the payoff of the mortgage I attached a bank statement showing I wired the {$330000.00} to NewRez on XXXX XX/XX/2022 and it specifies the loan number to be paid off and my name
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: GA
Zip: 30228
Submitted Via: Web
Date Sent: 2022-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-29
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: After a COVID Deferment, a loan modification was prepared in XX/XX/XXXX. FROM THE TIME THE MODIFICATION WAS PREPARED IN XX/XX/XXXX UNTIL IT WAS ACCEPTED AND PROCESSED BY SHELLPOINT ( IN XXXX XXXX ), THE ACCOUNT WAS LOCKED AND WE WERE FORBIDDEN FROM MAKING PAYMENTS. SHELLPOINT HAS ERRONEOUSLY REPORTED US DELINQUENT DURING THIS PERIOD AND REFUSES TO CORRECT THEIR ERROR. Once provided to us, I had the loan modification documents notarized locally ( at XXXX ) on XX/XX/XXXX, as suggested, because Shellpoint indicated that their mobile notary was backlogged at the time. We sent the signed and notarized documents to Shellpoint on the same day they were notarized. We were advised to check the Shellpoint website to see if the modification had been processed and to then make required payments. The representative said no payments could be made ( online or by phone ) until then because the account had be locked due to the pending modification. I checked the website almost daily in an effort to make payments. We were never contacted and the account remained locked. Accordingly, I called Shellpoint and was to told that the notarization was somehow defective and would need to be signed and notarized again. Shellpoint indicated they would have their mobile notary contact us to schedule a signing date. The notary never contacted us. I called Shellpoint 's representative numerous times. Eventually, he gave me the phone number of the mobile notary and I was forced to personally scheduled the signing. The modification was then signed, notarized, and sent to Shellpoint late in XX/XX/XXXX. I continued to check the website on an almost daily basis to make a payment, but the account remained locked until late XX/XX/XXXX, at which point almost {$20000.00} in required payments were made immediately. In short, due to the locking of the account BY SHELLPOINT from XX/XX/XXXX to XX/XX/XXXX, we were unable to make payments from XXXX to XX/XX/XXXX. Our credit report now indicates that we were delinquent on payments from XX/XX/XXXX to XX/XX/XXXX- exactly the time period during which the account was locked by Shellpoint. I would like the reports of " late '' payments removed from my credit reports with all three credit reporting agencies as soon as possible. This will be necessary for both borrowers- XXXX XXXX. XXXX and XXXX XXXX XXXX. Complaints were made to Shellpoint in XXXX XXXX and XX/XX/XXXX regarding these issues without relief. In addition, disputes were filed with the three credit reporting agencies in late XXXX and no changes to our credit repots are evident.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NY
Zip: 10305
Submitted Via: Web
Date Sent: 2022-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: name of the company : Shellpoint Mortgage Servicing I would like to file a complaint against Shellpoint Mortgage Servicing a summary of your concerns : I wrote a review on the company website : " One of the worst companies I have dealt with. I had my mortgage on forbearance due to COVID, and I started making payments after that. They reported to the credit bureau as missing payments. Based on the agent I talked with, they redistributed the payment to the previous months instead of the current one, without my permission or even informing me. In the next month, my monthly payment went higher than it should be ; I called to find out they added two insurance policies on my account at the time my insurance policies are current and active. I had to call my insurance company to send them to Shell Point fax number, which either does not work or nobody gets the documents from, so whenever you call to follow up, they would say they have not received any document. When you talk with them, they would never admit their mistake, instead, you have to be held responsible for their mistakes. '' I was trying to make payment back in XX/XX/XXXX, but the agent told me to wait for them to tell me when to make the payment. I followed their instructions, and I made a payment in XXXX, then, I had to leave the country due to a family emergency, my father had covid, so I informed their agent that you either send me the forbearance paperwork to sign it before I leave or I sign it when I am back, of course there was a ten days time period before I leave the States. The agent told me that she would do her best to send the paperwork before I leave, and she will inform her manager. When I was overseas, I kept getting emails that I had to sign the paperwork urgently, so I contacted the agent, XXXX XXXX, and told her that I already informed her of my situation. She asked me to contact her when I am in the states immediately, so I booked a flight to come back for five days to sign the paperwork because I was afraid that they would foreclose my property, at the time where I had to leave my father at the hospital. I signed the paperwork and left. Later, I found out that Shellpoint reported two missing payments on my credit. Then, I noticed my monthly payments were increasing on a monthly basis from {XXXX}, then {XXXX}, then {XXXX}, then {XXXX} for no reason. After many calls and being on hold, I found that they were adding insurance bills on my account at the time my insurance coverage had not expired yet, and they renew automatically whenever they are about to expire since I bought the property in XXXX. After many discussions, and phone calls, they keep asking for the new policies, but they never update it on the system. My insurance agent and I kept sending the policies every week, and every time the agent told me she/ he received the policy it just needed a week to be updated on the system. When I call the next week to follow up, the next agent tells me they do not have the insurance policy. By that time, they keep charging me for their products, and refuse to refund. Later, when they were out of the excuses of the policy not in the system, they started to ask for over insurance value, for example, if the property loan and value is XXXX, they were asking for insurance coverage of XXXX, the thing that left my insurance agent and I confused. I attached my bank payments statements and insurance statements as evidence. I would like them to be held responsible and stop their fraudulent actions, otherwise, I reject their services, they can sell it to another company. Also, I will seek legal actions. Due to their two missing payment, my score went down, and I can not refinance now.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22031
Submitted Via: Web
Date Sent: 2022-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: NewRez LLC failed to release the lien on my home. NewRez LLC told me there was no lien to release in XX/XX/XXXX after I paid off my mortgage. However, NewRez LLC recorded a lien on my home in XX/XX/XXXX for the mortgage I paid off. I mailed a Notice of Error to NewRez LLC in XX/XX/XXXX asking NewRez LLC to release the lien, but NewRez LLC has not released the lien.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: CA
Zip: 90505
Submitted Via: Web
Date Sent: 2022-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX : Today, I received a letter in the mail from Shellpoint Mortgage Company about this letter being the second and final notice about homeowners hazard insurance being expired and that Shellpoint Mortgage Company plan to buy insurance for my property. Shellpoint Mortgage Company has not sent a prior letter about homeowners hazard insurance and is threatening to purchase property insurance, should this document not be provided immediately.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07601
Submitted Via: Web
Date Sent: 2022-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: With my life-savings, I purchased an HOA-Lien investment property from an public auction without any transparency on existing mortgage on the property. Once I received notification there is an existing mortgage, I personally & through my attorney attempted to contact the mortgage company ( XXXX XXXX XXXX ) on several occasions to pay-off or refinance which mortgage company refused to provide me any information on the mortgage regardless of being the legal owner of the property being financed. The mortgage interest has been accumulating and no payment has been made as I have no account number to send the funds. I believe the lender is thinking that it is easier to foreclose the property as the foreclosed property value vs mortgage balance would easily be retained plus all interest & their attorney fees but I would lose my life-savings. My attornery XXXX XXXX XXXX sent out the payoff letter dated on XX/XX/2021, there has no any response or reply, as the owner, I have attempted to contact the lender mult-times during one year of time, due to the confidential policy, they insisted to not provide any payment information unitl I have complainted to the XXXX XXXX XXXXXXXX , they informed me that the mortgage has been transferred to Shellpoint Mortgage Servicing, I have to contact them instead.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32256
Submitted Via: Web
Date Sent: 2022-03-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-28
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Called mortgage comapny to update payments for XXXX XXXX and XXXX, and only continues to report up until XXXX XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AZ
Zip: 85742
Submitted Via: Web
Date Sent: 2022-03-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We closed on a mortgage for our cabin with XXXX mortgage, in XX/XX/XXXX. We put down 10 %, so the amount of the loan was {$270000.00}, with a value of {$310000.00}. Post closing, the loan was sold to NewRez. In XXXX of XXXX, I called NewRez to inquire how to go about removing the PMI charge ( XXXX month ) from my account. I was told on the phone that the XXXX had to be lower than 80 %, then PMI would be canceled. In XX/XX/XXXX, I submitted a one-time principal payment of {$28000.00} to bring the XXXX below 80 %. In XX/XX/XXXX, I noticed that the PMI charge was still on my account. I called back, and was told that I needed to submit a request in writing ( via fax ) to cancel the PMI, which I did. The company responded to me via a letter in XX/XX/XXXX that stated that I would need to submit a check for {$750.00}, so that they could conduct a valuation of the home to determine that the value has not decreased. I was confused about this, and called to discuss. The customer service rep stated that the PMI would be automatically canceled at 78 %. I was very close to this amount, so I submitted an additional one-time payment of {$500.00} in XX/XX/XXXX. In XX/XX/XXXX, the PMI balance was still on my monthly statement. I called to ask, and they stated that PMI is only canceled below 78 % based on the ORIGINAL payment terms -- that additional payments do not matter, and I would still need to submit an additional {$750.00} for a property valuation, then they can assess if the PMI can be canceled. My complaint is that NewRez has been very misleading throughout this process. At least two different call center reps have confirmed that PMI would be canceled if I submit additional principal payments, which I have done. Now I find out that even though I have submitted additional principal, I STILL have to submit an additional {$750.00} for an additional valuation. Given that the initial valuation was done 18 months years ago ( and the homeowners market has only increased! ), this feels like an unnecessary expense that is designed to keep people paying PMI charges. I am very hesitant to pay this charge, since it seems like if I do, there will be another trick around the corner, and then I will be out the PMI charge PLUS {$750.00}. In addition, in all of these dealings- NewRez is intentionally hard to communicate with. Communications are only over the phone - so there is no record of what they told me. When I needed to submit a request in writing, this had to be done via fax. Who has a fax machine anymore?!? Then they respond via a letter several weeks ( or months! ) later, which is intended to delay this process further. Their refusal to use email to communicate indicates that they are trying to avoid a paper trail on their practices. Thank you for your attention to this matter. XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MN
Zip: 55129
Submitted Via: Web
Date Sent: 2022-03-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Complaint about mortgage company withholding surplus disbursement of XXXX which indicates understated escrow balance for a month. During the period, escrow balance reflected XXXX less. I received annual escrow analysis indicating escrow surplus but no check! Mortgage company requires a cushion of XXXX ( or {$1100.00} ) of anticipated payment of additional funds held in escrow in order to prevent balance from becoming overdrawn when an increase due to taxes & insurance premiums. Despite surplus overage disbursement and required cushion, total mortgage payment increased from {$1500.00} to {$170.00}. Interest rate is fixed at 4.12505 %. This situation continues to occur regardless of increase of monthly payments applied to escrow. Last year was over paid ( surplus ) of {$1300.00} with an increase of monthly payments from {$1500.00} to {$1500.00}.
Company Response: Company believes the complaint is the result of a misunderstanding
State: MI
Zip: 48174
Submitted Via: Web
Date Sent: 2022-03-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-25
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: To whom it may concern, As it so happens, I wrote to Shellpoint Mortgage Servicing, LLC ( Lender ) exactly one year ago on XX/XX/XXXX, requesting the removal of Past Due negative marks on all three credit reports for _______ ( Borrower ) account XXXX. Stating the removal of Past Due negative marks on the Borrower 's credit reports was a part of the XX/XX/XXXX loan modification agreement with the Lender. The loan modification being the resolution to a dispute, from XX/XX/XXXX to XX/XX/XXXX, over the mismanagement of account XXXX, in which the Lender admitted to multiple erroneous errors. The Lender replied stating they did not mismanage account XXXX and the reporting of Past Due payments on the Borrowers account was in accordance with the FCRA. The Lender declined to remove the negative Past Due reporting for account XXXX between XX/XX/XXXX and XX/XX/XXXX from the XXXX, XXXX, and XXXX credit reports. I left the issue alone until I recently uncovered and reviewed communications between the Borrower and Lender during the dispute and the XX/XX/XXXX Loan Modification Agreements between Borrower and Lender. An XX/XX/XXXX letter from the Lender, responding to the Borrower 's Consumer Financial Protection Bureau ( CFPB ) complaint submitted XX/XX/XXXX, regarding the mismanagement of account XXXX, states, While Shellpoint admits errors were made on the account, we also assert all errors have been corrected as stated in the XX/XX/XXXX response. The Lender admits fault to mismanaging account XXXX in two letters. Yet, in a XXXX letter, the Lender stated they did not mismanage account XXXX and decline the removal of negative Past Due reports from the Borrowers credit reports. The XX/XX/XXXX Loan Modification Agreement documents state, in two locations : As previously described, if you ( Borrower ) comply with the terms of the trial period plan, we ( Lender ) will modify your mortgage loan and waive all prior late charges that remain unpaid. and If you ( Borrower ) fulfill the terms of the trial period including, but not limited to, making any remaining trial period payments, we ( Lender ) will waive ALL late charges that have accrued and remain paid at the end of the trial period. '' A review of account XXXX payment history shows the Lender, in reparation for the mismanagement of account XXXX, waived ALL late charges accrued during the dispute between XX/XX/XXXX and XX/XX/XXXX on XX/XX/XXXX. I argue, one may surmise the removal of negative Past Due reporting on the Borrowers XXXX, XXXX, and XXXX credit reports to be equal to the waiving of ALL late fees between XX/XX/XXXX and XX/XX/XXXX as reparations for the mismanagement of account XXXX. I formerly request the Lender remove the negative Past Due reporting from the Borrowers XXXX, XXXX, and XXXX credit reports. In addition to the issue with Past Due reporting on the Borrowers credit report, the Borrowers credit report shows a balance of {$150000.00}, which differs from the balance of {$100000.00} reported on the monthly statements and the online customer service dashboard at www.shellpointmorgageservicing.com for account XXXX. In XX/XX/XXXX the Lender deferred {$48000.00} of the principal balance on account XXXX until XXXX/XXXX/XXXX. On XX/XX/XXXX the Interest Bearing Principal Balance on account XXXXXXXXXX changed to {$110000.00}, yet this change was never updated in the Borrowers XXXX, XXXX, or XXXX credit reports. When the Borrower reaches out to a potential lender for credit, they receive a rejection letter stating that the principal balance on the mortgage is too high. However, between XX/XX/XXXX and XX/XX/XXXX, the principal balance on account XXXX has decreased {$8500.00} or 7.5 %. The Borrower is paying on the Interest Bearing Principal Balance, not the Deferred Principal Balance, yet the credit report After reviewing my credit report I now understand why. The Lender is reporting the Interest Bearing Principal Balance and the Deferred Principal Balance as a whole. This way of reporting the Principal Balance is proving to have a negative effect on the Borrowers ability to obtain credit as potential creditors see the Borrower paying very little on combined balances. Please have the Borrowers XXXX, XXXX, and XXXX credit reports updated to reflect the proper Interest Bearing Principal Balance of {$100000.00}, and properly report the 40 years, {$48000.00} Deferred Principal Balance so the Borrower is no longer receiving rejection notifications stating that their principal balance on the mortgage compared to the length of the loan is too high. Thank you for your time and patience while working to correct the information on the Borrowers XXXX, XXXX and XXXX credit reports for account XXXXXXXXXX. From the multiple erroneous errors in XXXX, the Lender 's lack of action to update the Borrowers credit report with the modified principal balance and XXXX deferment in XX/XX/XXXX, the XX/XX/XXXX denial of mismanagement of the Borrowers account, and refusal to remove negative past due to credit reports in compliance with the XX/XX/XXXX modified loan agreement, the Lender has mismanaged and misrepresented account XXXX for seven years. In addition to the removal of Past Due marks from XX/XX/XXXX to XX/XX/XXXX, and updating the principal balance to reflect the Interest Bearing Principal, the Borrow also requests the 8 remaining Past Due marks from XXXX onward be removed from the XXXX, XXXX, and XXXX credit reports as reparation for the past five years of incorrect reporting on the Borrowers credit report. Please let us wipe the slate clean and start over. Thank you, XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CT
Zip: 06066
Submitted Via: Web
Date Sent: 2022-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A