Date Received: 2024-01-11
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Newrez took over servicing on my loan XX/XX/XXXX from their sister company XXXX XXXX XXXX My monthly payment has never included escrows as we handled those ourselves. The XXXX XXXX XXXX only payment has always been {$1900.00}. On XX/XX/XXXX Newrez took a payment out of bank account for {$5500.00}. I immediately reached out to them via phone. I was told I needed to submit an inquiry through the website, they would do an escrow analysis, and I would have a response within 30 days. on XX/XX/XXXX Newrez took another payment for {$5500.00}. I again immediately called and was told I should have a response soon. I received an email from XXXX XXXX, a manager. She told me she was working on the issue and going to get the insurance escrow refunded. After spending a week doing diligence on the loan she came back and said XXXX had force placed insurance and that was getting refunded but Newrez had also paid the property taxes on XX/XX/XXXX AFTER I initiated the inquiry and they could not get a refund from the county on the taxes. I received communication from Newrez Compliance Department on XX/XX/XXXX regarding my recent inquiry concerning monthly payment and escrow issues that began ( and have persisted ) following the servicing transfer of my loan to Newrez on or about XX/XX/XXXX. The purpose this complaint is to escalate these issues to your attention and put you on notice that Newrezs response to my concerns has been completely unacceptable. Newrez records will reflect, the originating lender on the above-referenced loan granted me an escrow waiver such that my property taxes and homeowners insurance have never been included in my monthly mortgage payment since the inception of the loan. Newrez erroneously established an escrow account for my loan at the time of the recent servicing transfer which thereafter resulted in a cascade of additional errors including : ( 1 ) the incorrect purchase of lender-placed insurance for my property; ( 2 ) the erroneous escrowing of monies for taxes and insurance ; ( 3 ) a significant increase to my monthly mortgage payment ( which has been automatically withdrawn from my checking account for the last two consecutive months ) ; and ( 4 ) the incorrect disbursement of payments in the amounts of {$6600.00} and {$5500.00} for my county and school taxes, respectively, ( which, as your records will reflect, had already been paid ). The response I received from Newrez Compliance Department admitted the error and apologized for their " erroneous creation of an escrow account '' but indicated that refunds for the disbursements at issue could not be obtained. Also concerning is the fact the letter was completely silent as how Newrez plans to rectify this issue moving forward. I sent a letter to Newrez leadership, specifically XXXX XXXX, Head of Servicing and XXXX XXXX, XXXX of Loan Servicing, and demanded the following : Confirmation that the escrow account at issue has been closed and that no monies for taxes or insurance will be escrowed for my loan moving forward. Confirmation that my monthly mortgage payment will be reduced to the amount of {$1900.00} ( consistent with the amount of my monthly mortgage payments to the former servicer of the loan ) ; and A refund of the amounts withdrawn from my checking account in XXXX that exceeded the amount of my required monthly mortgage payment, or {$7000.00}. After getting an initial response from XXXX that his escalation team would be in contact, no response from Newrez was ever sent and in XX/XX/XXXX Newrez took another payment in the amount of {$2900.00}. This should not be allowed when this is their admitted error and I can document the escrow waiver, and payment of both taxes and insurance.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75254
Submitted Via: Web
Date Sent: 2024-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-11
Issue: Trouble during payment process
Subissue: Payment process
Consumer Complaint: On XX/XX/XXXX I requested a payment be withdrawn from my XXXX XXXX XXXX ACCOUNT on XX/XX/XXXX. I provided the correct routing # and account # for the payment. On XX/XX/XXXX I noticed the funds were not withdrawn and immediately contacted Shellpoint Mortgage to inquire why. They initially said my payment was returned for non sufficient funds. I immediately contacted XXXX XXXX and verified they never even tried to collect the money that was in the account and available since XX/XX/XXXX. I immediately contacted Shellpoint and told them a returned check is not possible because 1. The funds were available 2. They never processed my payment. They responded that due to Shellponts internal error they processed the payment using the wrong account number, not the one I provided in writing. Now they will not reprocess the payment they messed up on nor the XX/XX/XXXX payment I had pending because their internal error extends my past due. Now they want all four months at once & threatened foreclosure. When I have acted in good faith making the XX/XX/XXXX and XX/XX/XXXX payments trying my best to ward off foreclosure making payments as I could in good faith, their internal error is putting me in jeopardy and it was not my fault.
Company Response:
State: CA
Zip: 920XX
Submitted Via: Web
Date Sent: 2024-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-11
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: NewRez sent several letters notifying me that I didn't have proper hazard insurance on my condo. This was after they dropped my insurance once they took it over. I responded the first two times that they were incorrect and that my insurance, again, that I had to reactivate because of them, was already in place and contained the required hazard provisions. They have the correct information because their error forced me to reactivate. I also submitted evidence of the policy to the URL they told me to use in their notices. They still withdrew {$600.00} from my account on XXXX and said they were not properly listed as the mortgagee. I called my insurance provider, and guess what? NewRez was listed as the mortgagee. My declaration also has a note from XXXX ( the policy began XXXX ) stating the policy was amended, which is the date NewRez was put on the policy after they dropped my coverage during transfer. I had to call their investment department to get anyone on the phone. Now I'm resubmitting paperwork they already have and hoping they refund my {$600.00} back. Horrible, horrible company, which tracks with everything else I've seen about them.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 60647
Submitted Via: Web
Date Sent: 2024-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: did not provide adequate payment information in detail, respa requires more detail, to customer.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WI
Zip: 53218
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: They will not correct my credit report even though payments on time. I was in forbearance and then negotiated lower payment, but still sent negative report to credit bureau
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WI
Zip: 535XX
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I sold my home in XXXX oof 2023. At that time my mortgage was on time and no payments were due. I then started receiving harassing phone calls from shellpoint mortgage asking when i could make the payment. I explained to them over and over again i dont own the home. Its been sold. Why would i make a payment on a home i dont own?! The calls continued into late XXXX. When finally the buyers mortgage company resolved the issue by way of a XXXX way call with shellpoint. The buyers mortgage company and myself. But that didn stop them from reporting missed payments to my credit report.
Company Response:
State: MI
Zip: 48195
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Trouble during payment process
Subissue: Loan sold or transferred to another company
Consumer Complaint: We had a mortgage ( XXXX # : XXXX ) from XXXX on our house at XXXXXXXX XXXX XXXX XXXXXXXX CO, XXXX. Our house was burned down in the XXXX XXXX ( XX/XX/XXXX ). We got funds from our insurance company in several checks that had to be sent to XXXX. XXXX kept in a secure escort money that was up to the principle of our mortgage, and released to us funds that were above the principle. XXXX representative told us we can do an inspection of the rebuilding of our lost home, and the money saved in escort covering our principle will be released to us with the progress of the rebuilding, When the inspection will be at 50 % of the rebuild all the money from our secure escort will be release to us. Our mortgage was sold from XXXX to Newrez on XX/XX/XXXX ( Loan number stayed the same XXXX ). We were not part of this sale and never been asked if we agree to that. All the mortgage details were transferred with no change ( The principal, the interest, etc. ) But one important issue got worst for us. The Newrez representative told us they are releasing the money in the secure escort according to the progress of the rebuild and will release all the money at 95 % of the rebuild. This is worsening our terms with XXXX, and I dont think this is allowed. We have committed payouts to our constructor that we took on ourselves when we were under XXXX by knowing all the money will be released to us when will be 50 % done on the rebuild and not 95 % and now, we dont have the funds to pay our contractor. As you can see in the attached document ( Checks received ) on XX/XX/XXXX we got a check from XXXX ( Our insurance company ) for {$200000.00}. The check was sent to XXXX and deposited by XXXX in our secure escort. At that time our principle was about {$280000.00}. On XX/XX/XXXX an inspection was done by a XXXX representative ( See attached ) that showed 25 % of the house was rebuild. As you can see in the attached document ( Checks received ) on XX/XX/XXXX XXXX sent a check to us for the sum of {$290000.00} releasing the money we got from the insurance plus some of the money held for the principal, because of the progresses in the rebuild. On the XX/XX/XXXX we got another check from the insurance ( see attached Checks received ) for XXXX. At this time our mortgage was under Newrez and we sent the check to them to put in our secure escort. On XX/XX/XXXX Newrez representative did an inspection that determine 51 % precent of the rebuild was done ( See attached ). On XX/XX/XXXX XXXX sent us a check ( see attached Checks received ) for {$160000.00}. A XXXX representative told me this amount was taking in to account the latest check received from the insurance and the latest inspection report ( That showed % XXXX of the rebuild was done ). I have no idea how XXXX came to this amount. It will be nice if they send us a report of the calculations they made. If we were under XXXX all the money in the secure escrow have been released to us, and if my calculations are correct that should be around {$410000.00}. XXXX can not worsen our terms we had with XXXX and should release now all the money kept in our private escrow.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CO
Zip: 80303
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-10
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: Newrez purchased our home loan from XXXX XXXX XXXX a few months ago. Since then, Newrez has been drafting mortgage payments, as well as sending us monthly statements. I'm trying to manage my loan online w/ Newrez, as well as obtain my 2023 Form 1098 for my tax filing. Newrez website does not recognize my loan number, even though its printed on my statement. All phone numbers on all communications from Newrez are unreachable from my cell. I've called dozens of times and the message always says the call can not be completed as dialed. I've emailed Newrez multiple times asking for help, and I've never received a response. Their main number is XXXX. Their email address is XXXX. I want to make sure my loan is being serviced by a legitimate company.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 98406
Submitted Via: Web
Date Sent: 2024-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-09
Issue: Incorrect information on your report
Subissue: Public record information inaccurate
Consumer Complaint: Newrez corporation is reporting a loan payment as late when it wasn't. There was a clerical error that easily could have been adressed by NewRez if they wanted to but Newrex decided that the payment was XXXX days late and past XXXX days was late. On XX/XX/XXXX, I electronically sent a payment through my bill pay system to Newrez and they dedided not to process it in time and instead at XXXX time decided to go out and try to harm my credit and all they wanted to do was to make sure they received a late fee, But, that's not all. They lied as said they tried to give me a heads up by phone, which was false. They did send a letter on XX/XX/XXXX that arrived on XX/XX/XXXX, so that I didn't have a chance to correct the error in time. I told them that I was on a fixed income and was retired and damaging my credit would really hurt me. And even though I immediately via phone sent another payment to Newrez at XXXX the day I received the letter, they're rude customer service didn't care.Their strategy is to harm your credit, so they you can go to another company and they can then practice preditory loaning practices, I will lastly add that I have perfect credit and was never late on payment to them, DO NOT DO BUSINESS WITH THESE GUYS!!!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 28117
Submitted Via: Web
Date Sent: 2024-01-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-09
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: Shellpoint a division of Newrez has been sending me bills for months, i have talked to them on the phone and asked for a copy of all documents/ agreements, contracts and promissory note. I then followed up with an email. On XX/XX/2023 I sent documents via certified mail # XXXX. Shellpoint received my documents on XX/XX/2023. I have sent multiple fax 's to this company asking to validate this because I do not have an account with this company. This company ignores my requests and continues to send me a bill in the mail every couple of days. These letters/ notices are coming from 4 or 5 different addresses there is not any consistency to these letters and who/ and or what is sending them. I still have not received the documents i have requested. This is Fraud and Identity Theft. I am attaching the documents i have send VIA fax as well as certified mail. Now they have attached this to my credit report. I do not have an account with this company i never have and this company has failed to provide proof of this debt with a contract and or agreement between Shellpoint a division of Newrez and I.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 98208
Submitted Via: Web
Date Sent: 2024-01-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A