Date Received: 2021-12-10
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Problem with personal statement of dispute
Consumer Complaint: XXXX point is reporting me 30-60 days late because of wrong information. The company Shellpoint stated they processed my XX/XX/2020 loan payment on XX/XX/2020. I made XX/XX/2020 payment to XXXX mortgage company on XX/XX/2020 as my bank statement shows. I made my XX/XX/2020 payment on XX/XX/2020 to Shellpoint as my bank records show. I was then placed on Forbearance XX/XX/2020. Shellpoint Loan History does not reflect the XX/XX/2020 payment. What happened to the XX/XX/2020 payment? What payment was 30-60 days late? Thank you, XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 96003
Submitted Via: Web
Date Sent: 2021-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-10
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: In XXXX of 2020 my wife lost her job of 26 years due to a XXXX layoff. In XXXX of 2020, we requested a forbearance with our servicer, Shell Point Mortgage. Our loan was always under XXXX XXXX. We are now at the end of our forbearance, with our payment due this month ( XXXX ). We wanted to use the deferment option to put the {$26000.00} balance at the end of our loan. Today after speaking with our servicer, we learn on XX/XX/XXXX that our loan was sold to a different investor, XXXX XXXX XXXX XXXX. and is no longer affiliated with XXXX XXXX. We also learned due to the sale, we are NOT eligible for a deferment with Shell Point Mortgage. Shell Point told us that our investor will not allow deferments. You can only imagine how upset we are! Is there anyone that can assist us? Is this able to be overturned? We live here in California and had the most stringent lock downs during an extended Covid period. We are trying to see if we can get a modification but we don't know if we will qualify. Please help us.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92867
Submitted Via: Web
Date Sent: 2021-12-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-09
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I have a a loan with New Rez. I have set up a auto payment with XXXX XXXXXXXX XXXX. 1 ) The payment comes out on XXXX of the month 2 ) In month of XX/XX/2021 since XXXX and XXXX were Saturday & Sunday respectively the payment was made by XXXX on XXXX XX/XX/XXXX3 ) NewRez systems did not recognize this payment. The marked XXXX late 4 ) We called them and informed them of the issue when we became aware. They requested documentation what we provided 5 ) The applied the payment in XXXX towards XXXX rent but reported late to the credit bureau. They also increased our principal payments and fines etc. 6 ) We talked to them on several occasions. First a lot of representatives are impolite and would not like to talk, hanging the phone. 7 ) We send a letter from our XXXX after they were not ready to talk 8 ) I called them on XX/XX/XXXX and they said that I should upload all the documents through website since they do not have any other way. I went on the website but was not able to find any place to upload the documents 9 ) They have not responded to my attorney. My attorney recommended that I should contact your esteemed office PRAYER I WORK FOR XXXX XXXX XXXX AND I NEED TO HAVE A VERY GOOD HISTORY FROM EVERY ANGLE TO BE AN EXAMPLARY EMPLOYEE. THIS ISSUE HAS CAUSED A LOT OF AGONY AND FINANCIAL IMPACT ON ME INCLUDING REFINANCE our refinance has been denied because of this reason. NewRez contacted us in XXXX to refinance but we refused. Looks like they are penalizing us for it and are sending weird reports to Consumer protection. We have paid them a lot of extra money and still not been able to resolve this issue.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: KS
Zip: 66223
Submitted Via: Web
Date Sent: 2022-01-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-09
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I had a forbarence plan set up with Shellpoint Mortgage due to COVID-19. I was able to get off the forbarence plan in XXXX of 2021, at that point Shellpoint offered me an option to do a loan modification. During the loan modification process i was under the assumption that the forbarence plan was still in affect until the modification process was completed so i continued to defer my payment. The modification paperwork needed to be notarized so Shellpoint hired a 3rd party notary and i had nothing but issues with them. Took almost 2 months to finally get a schedule date. Now Shellpoint has reported me 60 days late on my mortgage. Im trying to re-finance my house right now and this negative/inaccurate reporting on Shellpoint 's part is making it impossible to do so. I have filed complaints directly to Shellpoint and also tried to dispute the negative report thru XXXX with zero success.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 935XX
Submitted Via: Web
Date Sent: 2021-12-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-09
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: In XXXX I contracted XXXX and was hospitalized for 3 months where I battled the XXXX and almost XXXX. Because of theXX/XX/XXXX I was out of work and fell behind on my mortgage payments while I suffered from residual affects of XXXX. I went through the cares act Covid-19 forbearance with SHELLPOINT MORGAGE SERVICING for 12 months. In XXXX of XXXX SHELLPOINT MORGAGE SERVICING agreed to a mortification of my loan. I began my trail payments of {$1600.00} onXX/XX/XXXX, and I made all my payments on time each month for the 6 month trail ending in XXXX XXXX. I even made an extra payment of {$1500.00} and {$150.00} and XXXX because SHELLPOINT MORGAGE SERVICING said I was behind and they just held the money in unapplied status to my loan even as of today. I then received a letter on XXXX saying that I am not eligible for the loan modification because I withdrew my request for a loan modification before the evaluation process was completed, which is totally untrue I never withdrew from the modification process. SHELLPOINT MORGAGE SERVICING is FRAUDULENT because they lied and said they did not receive my payment and held the funds in unapplied status. SHELLPOINT MORGAGE SERVICING is DISCRIMINATORY because the lied saying I withdrew from the loan modification process which I did not because I am an XXXX XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: SC
Zip: 29016
Submitted Via: Web
Date Sent: 2021-12-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I received the attached letter from NewRez LLC today, letter is dated XX/XX/21 The first paragraph of the letter is as follows : " We have attempted to contact you by first class mail and on at least XXXX ( XXXX ) occasions by phone to discuss and assess your financial situation and to explore options that may be available to you to avoid foreclosure.Despite these attempts. we have been unable to contact you as of this date. '' The letter goes on to state that I must contact them to avoid foreclosure. Here is the issue : 1 ) NewRez LLC XXXX XXXX XXXX XXXX has not contacted me a single time prior to this letter by phone nor mail. I have contacted them numerous times to resolve an error they have made with my mortgage account. 2 ) I have never defaulted nor been late for a single payment ever. My loan is current with all payments being made in full in a timely manner. On what basis does NewRez believe it is correct and legally appropriate to send me this letter? I believe NewRez is engaging in illegal and deceptive business practices which causes stress for the consumer and wastes the consumer 's time. No one that is making their payments on time and in full should be receiving a letter of this nature. I am filing this complaint so that the government and other consumers are aware of their business practices.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: CA
Zip: 92882
Submitted Via: Web
Date Sent: 2021-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-08
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We are writing because our consumer rights are being violated by the current servicer of our mortgage Shellpoint Mortgage Servicing. In early XXXX, we suffered severe financial hardship as a direct result of the Covid-19 pandemic. After the passage of the Federal CARES Act, we invoked our right to put our mortgage into Covid forbearance as afforded by the CARES Act. We achieved financial recovery during the latter part of the third quarter of XXXX and in the beginning of XX/XX/XXXX per the Covid forbearance wind down rules, we submitted a loan modification application package with all requested supporting documentation to our then servicer, XXXX XXXX. On XX/XX/XXXX we received a correspondence letter from XXXX XXXX that explicitly stated that our loan modification application had been received with all requisite documentation and that it was considered complete and under review. From that date forward, the servicer had a legal obligation under the Covid forbearance wind down rules to review our application and render a decision regarding loan modification options. The established rule stated that in order to have all federal wind down options considered, even for private investors, that our application had to be submitted and complete by XX/XX/XXXX, a guideline that we clearly satisfied as is evidenced by the XX/XX/XXXX letter from XXXX XXXX. Further, as part of the review, the servicer is obligated to consider all federally established wind down options and present them accordingly within 30 days of receipt of a completed modification application which would have been a XX/XX/XXXX deadline at the latest. If in the course of that review the servicer and investor deemed that we as consumers were ineligible for any of the loan modification options, they would have been required to provide a detailed explanation as to why we were deemed ineligible for any of those federally established modification options our mortgage is currently held in a private asset backed security. Shellpoint is committing a legal violation and is causing consumer harm by not providing us with our loan modification options. XXXX XXXX never rendered a decision, and on XX/XX/XXXX the loan was sold to a new investor group and the servicing was transferred from XXXX XXXX to Shellpoint. Prior to any introduction or notification to us regarding the transfer, Shellpoint sent out a property preservation company who deemed our home uninhabited and hung a sign on the door stating that we were at risk of our property being secured and re-keyed. We found this note when we got home from work that day and immediately contacted the preservation company. It was only then that we discovered that Shellpoint was our new servicer. They sent out a property preservation company despite the fact that we had been openly communicative with XXXX XXXXr over the several months that our loan was in Covid forbearance and that all file notes clearly indicated that we are still living in the home and have every intention to complete the loan modification and keep our home. We contacted Shellpoint immediately and have subsequently had at least a dozen conversations about our situation, occupancy status, and intentions. After multiple conversations over several weeks with contradicting information and advisement, we were finally put in contact with a manager at Shellpoint, XXXX XXXX, who advised that she is handling our case moving forward. Thus far, Shellpoint has not placed our loan into loan modification status and has not reviewed our application nor rendered a decision presenting us with modification options. They have repeatedly attempted to have us submit a new modification application to them which would effectively circumvent their legal obligation and duty of service to us as consumers as any new application would significantly post date the Covid forbearance loan modification application deadline of XX/XX/XXXX. Submission of a new application would effectively allow them to both flag our credit for delinquency as well as reject consideration of the federally established wind down options as the loan modification application would not satisfy the application deadline of XX/XX/XXXX. Shellpoint did not have servicing rights to our loan until XX/XX/XXXX. As of the date of servicing transfer, a full and completed loan modification application had already been submitted according to XXXX XXXX requirements and was under review. Shellpoint being the subsequent servicer having not gained the servicing contract until XX/XX/XXXX are legally obligated to review the completed loan modification application package that was submitted to XXXX XXXX and deemed complete as of XX/XX/XXXX. They can not legally insist on us completing a new application or submitting additional supporting documentation as they must honor the terms established by the prior servicer. There is no possibility that we could have submitted a loan modification package to Shellpoint as they did not exist as a legal entity in the servicing of our loan as of the requisite loan modification application deadline of XX/XX/XXXX a fact that they fully understand. XXXX XXXX established the contractual terms with us as to what constituted a complete loan modification application. According to the terms that XXXX XXXX established, we submitted our application with all requested supporting documentation and they accepted that application as complete and under review. Shellpoint is legally obligated and has no choice but to review the documentation and application as submitted to XXXX XXXX and present us with loan modification options. As of the date of submission of this complaint, they are currently 54 days late on presenting us with workout options as required by law. In the interim, XXXX XXXX has advised us to ignore the written correspondence which represents that we are in default, not in any sort of loan modification review, and at risk of foreclosure. We are still receiving these types of letters from Shellpoint to date. She has stated to us verbally on the Shellpoint recorded line that all of the written correspondence is coming through a different department and is not being cleared with her, but that we are not at risk and they are working on compilation of documents and review of our application. She also advised that since all documentation received from XXXX XXXX validated that we are still living in the home, that a property preservation company should not have been sent out and that that happened in error. We have affirmed and reaffirmed that we are living in the property and that there is absolutely no justification for a categorization that our home is vacant. Since then, Shellpoint has again sent out a property preservation company who once again stated that our home is vacant and that we are once again at risk of being re-keyed. This is an outrageous and egregious overstep in light of the situation and it is becoming abundantly clear to us that Shellpoint and the investor group are nefariously trying to foreclose on our property while circumventing their legal obligation to us. We have made nothing but every effort to openly communicate with Shellpoint through several stages of this process and they still keep overtly lying to us and trying get us to forfeit our rights as consumers. Every time that we get another letter in the mail or through our online portal that contradicts XXXX XXXX statements, we call in for clarification. We have been repeatedly told that we need to submit a new application if we want consideration for loan modification and that Shellpoint has not yet received all documentation from XXXX XXXX. That is a problem between Shellpoint and XXXX XXXX if that is in fact the case, but regardless, that does not afford the mortgage servicer the right to violate the terms of the XXXX forbearance wind down rules of a 30-day loan modification review and decision. As consumers, we are caught in the crosshairs between two corporate loan servicing conglomerates with no reasonable consideration for the fact that we are people on the other end of this loan that just want reasonable workout options presented so that we can move past the financial distress that the Covid-19 pandemic put on our family and we can resume making our mortgage payments in whatever manifestation that that looks like without injury to our credit, further threat of the loss of our home, or otherwise. This has crossed into the category of predatory conduct with little to no regard for the loan servicing rules that they are required to adhere to. We have repeated ad nauseum that we will not submit a new application which would effectively forfeit our consumer rights to a full Covid wind down loan modification review. We are repeatedly being lied to by representatives from Shellpoint and have yet to receive any loan modification options from them almost 2 months late at this point. We demand that Shellpoint render a decision regarding our loan modification application that was submitted and deemed complete as of XX/XX/XXXX, post haste, and present us with the all variations of loan modification options that were established as part of the Covid forbearance wind down protocol as accepted by all XXXX and federal loan providers/insurers. We demand that Shellpoint stop maliciously attempting to seize our home through coercive and manipulative techniques that violate our consumer rights and deviate from their duty of service to us as the mortgagor. We demand that Shellpoint cease from sending out representatives to trespass on our property so as to threaten us with confiscation/foreclosure with no justification for such threats as we are in full and open communication with them since we discovered that they are now servicing our mortgage and have repeatedly affirmed that we are occupying the home. Further, we demand that neither Shellpoint nor the investors attempt in any regard to tarnish our credit history or rating as a result of their failure to render a loan modification decision in a timely manner. The CARES Act clearly established that invocation of the Covid forbearance could not be used to tarnish the creditworthiness of effected consumers. We have communicated and satisfied all legal framework requirements regarding the Covid forbearance program as well as the loan modification application deadline of XX/XX/XXXX for Covid forbearance wind down. At the same time, the loan servicer is in direct violation of our consumer rights and is utilizing manipulative semantics to try to coerce us into forfeiting those same consumer rights. If any such attempts are made to tarnish our credit or further the course of foreclosure while Shellpoint is in violation of their temporal requirement to present us with loan modification options, we will pursue civil recourse. If Shellpoint sends any more agents to trespass on our property with threats of confiscation while our Covid forbearance loan modification review is in process, we will pursue criminal prosecution against such agent for criminal trespass and will seek additional civil recourse against Shellpoint. As the Consumer Financial Protection Bureau, we hope that you will weigh the gravity of our concerns and use your enforcement authority to compel Shellpoint to bring our loan servicing back into legal compliance in the interest of protecting us from further abuse or risk of the loss of our home. We also request that our concerns be forwarded to the FTC for review and consideration in case this is determined to be pervasive conduct on the part of the loan servicer in the interest of protecting all consumers that may be suffering from this egregious mortgage servicing conduct. Thank you for your time and consideration. If you have any questions or concerns, or need any supporting documentation including but not limited to a detailed call log, please do not hesitate to reach out. We look forward to your response.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 31405
Submitted Via: Web
Date Sent: 2021-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-08
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Difficulty submitting a dispute or getting information about a dispute over the phone
Consumer Complaint: loan was forbearance since pandemic started, when my forbearance ended I contacted Shellpoint for whats the next step. We agreed that they will add amount I didnt pay back of the loan and start my new payment XX/XX/2021. They advise me to wait all documents they will mail to me once I receive them I should sign and notarized, mail bank to them and start first payment XX/XX/2021. I did all those things as they instructed me to do so. All the sudden I got Alert from XXXX indicating that shellpoint reported late payments in my credit report. I have been calling and emailing to shellpoint no one is willing to help me. Thats why I am doing this complaint.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-08
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XX/XX/2021 My name is XXXX XXXX and I live at XXXX XXXX XXXX XXXX, OH XXXX. I feel I have been discriminated against, misled and retaliation has been taken because of a complaint I filed. I was not given Covid assistance when I requested it from my lender, my credit report has incorrect damaging information and my health has drastically been affected by the treatment I have received. I was unable to get help and my situation worsened in the process from acts done by Shellpoint Newrez. I have been on XXXX for years now due to XXXX XXXX, XXXX XXXX and XXXX. I explained the situation to numerous people and begged for help that was offered to all. I still have not received any help and I have no hope of this situation being resolved. After all my efforts I now have lost a credit card ( due to incorrect information from Shellpoint/Newrez ). My credit score has gone down over 100 points due to their information inaccurately being reported to credit bureaus. I had worked for years to have a good credit score, my score was XXXX until Shellpoint reported incorrect information to the credit bureau. All I have asked is what the government offered to everyone and I have not received any help or assistance with this matter. I have been ignored, given inaccurate information and been treated rudely during this whole process. I ask that someone help me with this inequality in the system. I have listed dates and information below. I was given multiple people as my loss mitigation specialist, I was tossed around and not given respect or help. I also attached emails and letters NewRez sent regarding my complaint against them. My credit score took over a 100 point loss after this due to NewRez reporting incorrect information, In XXXX I got approval through XXXX XXXX XXXX for 6 months house payments, the information was sent to NewRez and it is now XXXX, my house payment was taken out and no response regarding XXXX XXXX XXXX from NewRez. I also found my credit report was hurt by NewRez incorrectly reporting a partial payment in XXXX, which is incorrect. This brought my credit score down over 130 points and my XXXX credit card was revoked. This information I found out this first week of XXXX. Below I have pasted several things I have found that lead me to believe I would be able to get help with no problem. I don't understand why this has turned into such a life altering situation.None of what is stated below was made available to me. I am hoping my mortgage will get the modification it was entitled to in XX/XX/2021, adjusting my mortgage balance to reflect the monies that would have gone to principal had I received the modification. I want my credit report fixed- this should be done regardless. I want Shellpoint to mail a letter to me and XXXX explaining their error and following through till it is corrected. I don't think this is too much to ask since lawyers are offering pain and suffering due to mortgages and banks not living up to their responsibilities. My XXXX, XXXX and XXXX are through the roof. I have not been able to deal with these multiple issues because I am unable to concentrate when all of these factors are present and it has taken me this long to reach out to someone to make them accountable. Thank you for your time and consideration with this matter. Should you have any questions I can be reached at XXXX. Please leave a message as I am receiving scam calls since I reached out to request help. Sincerely, XXXX XXXX XX/XX/2021 I called NewRez after seeing the XXXX XXXX XXXX program online and was told it was not offered. XX/XX/2021 Talked to XXXX XXXX explaining I was struggling and Im with XXXX XXXX and was requesting a loan modification to avoid going into foreclosure. He said since housing values have gone down, having an appraisal to get the loan modification would possibly make my interest rate and payment go up. I told him that would only make matters worse. I have borrowed money, used credit cards to keep up. My son has had XXXX twice, my daughter-in-law has XXXX and has had XXXX twice and I have had my granddaughter and I need assistance. XX/XX/2021 XXXX I called in to NewRez and was routed to a loss mitigation specialist for financial hardship - XXXX XXXX from customer service transferred me to XXXX XXXX who only looks at delinquent loans and mine is current. A hardship form will be mailed out. XX/XX/2021 Assigned XXXX XXXX as point of contact. XX/XX/2021 Point of contact now XXXX XXXX. Spoke with him and he stated it should be no problem to get loan modification lowering my interest rate and keeping the same terms. He would send it up and should get back to me by the end of week. I did not hear from him after sending multiple emails : XX/XX/2021 XXXX XXXX. I spoke with XXXX XXXX and sent a paper thru email to fill out and to send proof of income ( XXXX XXXX XXXX ) and payments or bank statements using loan ID XXXX and he would send up for an approval on loan modification. Also had me enclose a hardship letter. I explained I was paying over 40 % of my income on my mortgage. XX/XX/2021 Finally reached XXXX at XXXX XXXX. and he said he still hasn't heard anything and he couldn't tell me anything as it was taken out of his hands. I questioned this and he had me hold and came back and said his supervisor took over. It was being processed and that was all he could tell me right now. He would let me know something by the end of the week. XX/XX/2021 Spoke with XXXX at CFPB at XXXX and explained I had started asking for help in XXXX and I was ignored, given incorrect information. She said option 1 was to file a complaint and 2 I could ask for mortgage assistance elsewhere. XX/XX/2021 I called in again as I had not heard from XXXX and was told I was offered an extended term of 40 years and I only have 23 years left currently. I was not agreeable to that option after all this time of being told differently. I was told that I could have a 6 month deferral but all of it was due at the end of the 6 months. I explained that if I couldn't pay it now how would I possibly pay it at the end of 6 months. XX/XX/2021 Sent complaint to Consumer Finance ID # XXXX XX/XX/2021 Contacted XXXX XXXX, spoke with XXXX and he sent a packet to sign. I was unable to print. At this point my XXXX and XXXX were uncontrollable and this went to the wayside. The CFPB enforces several laws, such as the Truth in Lending Act and the Real Estate Settlement Procedures Act. Examples of common mortgage complaints include : Refinancing or modifying a mortgage loan Misreporting mortgage account status to you or to credit reporting agencies for those homeowners who do not have federally financed mortgages, the CARES Act provides mortgage forbearance by giving those homeowners the right to request and obtain a forbearance for up to 180 days. Additionally, once that 180 days runs out, the Cares Act provides for that homeowner to request and apply for another 180 day extension. The Act provides that no additional fees, penalties, or interest will apply. Furthermore, no additional documentation needs to be submitted other than your basic claim that you are experiencing financial hardship due to COVID-19 and are unable to make your monthly mortgage payment. A COVID-19 payment deferral allows you to bring your mortgage current by delaying repayment of forbearance amounts without changing other terms of your mortgage. This option may be available if you can not afford a reinstatement or repayment plan. You will not be charged interest on the forbearance amounts, which will be due and payable at the maturity of the mortgage loan or earlier whenever you sell or transfer of the property, refinance the mortgage loan, or pay off the interest-bearing unpaid principal balance. Talk to your mortgage servicer about how escrow payments will be handled for this option. I was never offered this option and I did send information in to XXXX If you are a homeowner, have your financial information handy and contact your mortgage servicer ( the company listed on your monthly statement ) to request help if youre concerned about your mortgage payments. And, if XXXX XXXX owns your mortgage loan, our XXXX XXXX XXXX ( XXXX ) can help you navigate the mortgage relief process and address other financial challenges. Visit XXXX to learn about our available mortgage assistance and relief options. FHFA Expands Use of Interest Rate Reduction to Help Borrowers with a COVID-19 Hardship Reduce Their Monthly Mortgage Payment Changes to loan modification terms will help borrowers stay in their homes FOR IMMEDIATE RELEASE XX/XX/2021 Washington, D.C. Today , the Federal Housing Finance Agency ( FHFA ) announced changes to loan modification terms for COVID-19 impacted borrowers with mortgages backed by XXXX XXXX or XXXX XXXX XXXX XXXX XXXX ) needing payment reduction for successful home retention. The updated terms are specifically for borrowers with permanent COVID-19 hardships and respond to the unprecedented nature of the pandemic. Flex Modification terms will be adjusted for COVID-19 hardships making interest rate reduction possible for eligible borrowers, regardless of the borrower 's loan-to-value ratio. Previously, only borrowers with mark-to-market loan-to-value ( MTMLTV ) ratios greater than or equal to 80 percent were eligible for a possible interest rate reduction. MTMLTV is a ratio that compares the balance remaining on the mortgage to the current market value of a home. Allowing more families to qualify for an interest rate reduction will prevent unnecessary foreclosures, help strengthen the Enterprises ' books of business, and make sustainable homeownership a reality for more families currently living with the uncertainty of forbearance, '' said Acting Director XXXX XXXX XXXX. Today 's action is just the latest step FHFA has taken to benefit homeowners and the mortgage market during the pandemic. FHFA continues to monitor the effect of the COVID-19 servicing policies on borrowers, the XXXX and their counterparties, and the mortgage market. FHFA may extend or sunset its policies based on updated data and health risks. Homeowners and renters can visit consumerfinance.gov/housing for up-to-date information on their relief options, protections, and key deadlines.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OH
Zip: 443XX
Submitted Via: Web
Date Sent: 2021-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Please accept my apologies for my persistence. However, I received my statement and there are questions that remain unsolved. As of XXXX XXXX my installment of {$1300.00} is due. Also, the XXXX mortgage has not been paid as I have not received the requested form signed by you for Mortgage Assistance. I sent it to you and the Mortgage verification form was confirmed as received. The XXXX mortgage will get paid as soon as I receive the requested form. Since my mortgage was never re-affirmed, my understanding is that my current due balance is {$2700.00} for both XXXX and XXXX. Yet, the XX/XX/XXXX statement says the amount due is- {$2800.00}. Why am I being charged {$51.00} extra without a clear explanation on the XX/XX/XXXX statement? My past unpaid payment is listed as : {$1400.00}. If this {$51.00} happens to be one of the several legal fees that you are requiring for me to pay, shouldn't that fee be listed separately and not disguised in my past unpaid payment? Thanks!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33511
Submitted Via: Web
Date Sent: 2021-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A