Date Received: 2021-11-11
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have been in Covid forbearance for about 18 months. During this time, I was taking care of my elderly mother. She died in XXXX and I just had the funeral in XXXX. Due to all of this, I have not been working and unable to resume monthly mortgage payments. I asked Shellpoint Mortage for a modifcation ; specifically, for the lowest amount possible. Shellpoint said that I qualify for a Covid modifcation. They give me payments of about {$700.00} per month. I tell them that this is unaffordable at this point in time. I am in the process of getting re-stabilized financially and only bring in about {$800.00} per month. They said there is nothing more they can do. I only owe about {$37000.00} on the mortgage. The regular payments are about {$1000.00} per month. Surely they can lower the monthly payment amounts to less than {$700.00} ... at least temporarily. I have been in my home since 1998 and will be homeless if I can not work out an agreement with Shellpoint Mortgage. Any assistance would be greatly appreciated.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77015
Submitted Via: Web
Date Sent: 2021-11-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-11
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I filed atleast 10 complain since XX/XX/2021 about same issue that Credit bueros reporting late payment of my one mortgage with Shellpoint newrez mortgage account # XXXX .. this case is going on since XXXX and Shellpoint says they never reported to credit bueros and XXXX says shellpoint has reported it. 1. I am attaching credit report here - where negative report is appearing 2. I am also attaching shelpoint letter where they mentioned they never reported. so who is lying here, either shellpoint is lying or XXXX and XXXX is lying. If shellpoint never reported negative report then who has reported and why credit bueros showing it on report
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NC
Zip: 28273
Submitted Via: Web
Date Sent: 2021-11-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-11
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: already lodged a complain but nothing is done Need my answers on breakdown of of principal of XXXX, deffered interest of XXXX, deffered principal XXXX and others XXXX.Need complete history.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-10
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I applied for a {$330.00} K rate and term refiance for a investment property on or around XX/XX/2021. They sent out discloures on XX/XX/XXXX verifying my info. All reuested documents where sent to them by XX/XX/XXXX. They gave a condition list on XXXX, all conditions where sent in and signed off by Underwriting. They approved the loan CTC. The loan seized activity past that point, calls went unreturned, emails not answered, as my agent tried in desperation to assist me and reach higher level managment for assitance. I myself filed a complaint with client services 3 times that also went unresponded. I would suggest that the State please look into this as this company has commited major compliance violations and many people online XXXX, XXXX, XXXX, report similare experience 's They bascially abandoned my loan with no proper discourses of explanation.
Company Response:
State: CA
Zip: 92562
Submitted Via: Web
Date Sent: 2021-11-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX, I reached out to Shellpoint Mortgage Servicing to request a 3 month deferment of payment for my mortgage due to the pandemic 's effect on my business. I was approved to defer XXXX, XXXX and XX/XX/XXXX. I then requested further deferment starting in XXXX. I contacted my mortgage company on a weekly basis and provided all requested documentation along the way. In XX/XX/XXXX, I was approved for a trial modification with lower monthly payments starting XX/XX/XXXX through XX/XX/XXXX. I made each monthly payment on time starting XX/XX/XXXX until XX/XX/XXXX. On XX/XX/XXXX I received documents for a permanent modification which I approved. In XX/XX/XXXX, they sent me a balance due for the escrow. I paid the entire amount immediately, however the mortgage company did not apply it to the escrow. In XX/XX/XXXX, the mortgage company reported me as three months delinquent to all three credit bureaus. I have called them on a weekly basis and each time I received different instructions than what was mailed to me. There are also random fees in my mortgage history that were never sent to me.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DE
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-11-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My wife and I are financially able to pay extra on the principal. For a couple years NewRez applied the extra money to principal right away. About three months ago they sent us a message indicating that extra principal payments would be held until it equaled a full payment, then it would be applied. We dont know just exactly how this extra will be applied. Will they treat it as a normal payment amortizing it and keeping the interest or will they apply it all to principal which is our desire. Im not sure if, in the mountain of paperwork that we signed, if there was a clause that gave them the right to handle extra on payments to their benefit instead of ours.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: AL
Zip: 357XX
Submitted Via: Web
Date Sent: 2021-11-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-09
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XXXX 2021, I made my regular mortgage payment plus {$50000.00} to be applied to principal. I have continued to make regular payments on time since that payment. New Rez/Shellpoint misapplied the payment and believes that I missed a payment. The monthly payment is {$440.00} and there is over {$1000.00} in a suspense account not applied to my mortgage. I made phone calls, spoke to a representative and hung up the phone thinking the issue was resolved on XX/XX/2021, XX/XX/2021, and XX/XX/2021. I received a forclosure notice dated XXXX/XXXX/2021. I received a phone call today ( XXXX/XXXX/2021 ) asking for payment to prevent foreclosure and when I explained the situation the female representative said that I was just on a list for her to call and then hung up the phone on me. I called back and spoke to a gentleman who put me on a lengthy hold and then came back saying that there was an issue with their phone system and could not help me but suggested that I call back tomorrow.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NJ
Zip: 082XX
Submitted Via: Web
Date Sent: 2021-11-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-08
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: This complaint is to report and seek solutions to the dispute between NewRez XXXX Shellpoint Mortgage Servicing and myself on the interest calculation of the mortgage at the time of sale closing of my property. Due to the impact of Covid on the rental market I applied for forbearance on my loan with Shellpoint which took effect on XX/XX/XXXX, and later on I had to sell the property on XX/XX/XXXX. The time it was on forbearance was XXXX months and XXXX days, or roughly XXXX months. On the closing disclosure document the interest stated by Shellpoint was {$9200.00}, higher than my estimate of {$8400.00} ( $ XXXXmonthly interest at the start of forbearance X XXXX = {$8300.00} ). Starting from XX/XX/XXXX, about a week before the closing date I had contacted ShellPoint by phone and email numerous times trying to get a clarification regarding the method of computation, however I couldnt get a straight answer -- I was bounced between representative to representative, asked to wait until someone came back from vacation, or given obviously wrong answers on the calculation of interest, such as without taking into account of compounding of interest, etc., the most common answer was " that's what the computer generated. '' XXXX representatives who bothered to go through the calculation agreed that there was a discrepancy and escalated the issue. However I still didn't get an answer even when the closing date came and went. After days of calls and emails finally I was told that I had to file a dispute on their webportal for the case to be reviewed, which I did promptly. From then on to avoid getting different answers from different representatives I decided to communicate only with the point of contact of my loan, XXXX XXXX, through email. ( A record of our email communication is presented here. ) A month after the issue arose, on XX/XX/XXXX I finally received a response from the Compliance Department stating that the forbearance lasted XXXX months and XXXX days, which was incorrect. I contacted XXXX again to clarify the duration of the forbearance. On XX/XX/XXXX I got her answer saying that the interest was calculated arrears. I went back to the initial loan document at the time of refinancing, the document shows that the interest during the gap between the old loan and new loan was paid at the time of refinancing, so the explanation of interest going arrear for a XXXX doesn't make sense. I sent XXXX the document XXXX and so far I haven't heard a resolution or explanation. Meanwhile, as I tried to review the letter from Compliance again, I realized that letter was retracted from their web portal. I continued to check in with XXXX on a XXXX basis after I submitted the refinance document showing the proof of interest payment at the start of the loan, her answer has always been I havent heard anything back. This back-and-forth lasted for over another XXXX and I realized this is going nowhere. Although XXXX said this case has been escalated, enough time has passed to show that it will ever be resolved because it seems to be ShellPoints strategy to procrastinate the cases not in their favor until the customers give up on getting a resolution or answer. The complaint is on XXXX areas : 1 ) The customer service is incompetent on answering technical questions. Over the past XXXX months, I have received many inconsistent answers regarding my questions. 2 ) The Compliance is unable or unwilling to resolve issues not in their favor. The loan documents were probably not reviewed before they put out a resolution letter on the webportal on XX/XX/XXXX, and retracting that letter after I pointed out the discrepancy between the letter and the initial loan document was inappropriate. As a borrower, I have the right to obtain accurate information regarding the method of loan interest computation and explanations when discrepancies occur. ShellPoint has not complied with their obligations as a mortgage servicer to provide accurate information in a timely manner and has not shown any intention of doing so. To make customers go through extraordinary lengths to the point of resignation when it comes to issues against them has violated the code of honesty, integrity, and fairness in business practice. After exhaustive interactions with them to no avail I have realized that as an individual customer I am at a disadvantage to get this issue resolved and I have to turn to CFPB for further investigation. Please find the email communication with XXXX in XXXX of the files identified by dates in the attachment. Due to the format of the email server they are nestled in reverse order with the newest first. Please also find the refinance document, the closing disclosure and the monthly statements at the beginning and the end of the forbearance plan. Unfortunately I didn't download the letter from Compliance department on XX/XX/XXXX from their borrower 's webportal, that letter was withdrawn and not available anymore. But the content can be inferred from the emails between XXXX and me at that time. I appreciate your assistance!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 986XX
Submitted Via: Web
Date Sent: 2021-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-09
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I had a loan ( # XXXX ) with XXXX Mortgage that we were working on a Deed In Lieu during XXXX. We were 90 % through the DIL process when they transferred my mortgage to New Rez/Shellpoint in XXXX of XXXX. I consummated the DIL with Shellpoint on XX/XX/XXXX with the final doc attached showing it was assigned to XXXX under loan number XXXX. Property address was XXXX XXXX XXXX XXXX, XXXX XXXX SC XXXX - XXXX XXXX. On XX/XX/XXXX I received a letter from Shellpoint stating they were transferring the mortgage we completed the Deed In Lieu for ( XXXX ) to XXXX effective XX/XX/XXXX. XXXX - I spoke with a representative at XXXX ( XXXX ) who allowed me to email the XXXX XXXX to XXXX and said she would forward it on. XXXX - I spoke to XXXX XXXX at Shellpoint and was asked to email the DIL doc to their XXXX email address. XXXX - I received a letter from XXXX stating my account ( loan # XXXX ) is in default and due for a XXXX mortgage payment. The DIL was frustrating to complete with both organizations but I am befuddled how after completing the DIL how Shellpoint could transfer the mortgage to XXXX. I am having to now spend hours calling, on hold, speaking to representatives and documenting this series of events. Please help me take action and remediate their error of transferring a mortgage ( Shellpoint loan # XXXX ) that no longer exists to XXXX ( old loan number XXXXnew loan number XXXX ) Thank You XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, FL XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 329XX
Submitted Via: Web
Date Sent: 2021-11-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-11-08
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: My loan was placed in forbearance XX/XX/XXXX due to COVID. My forbearance ended and my payments were to resume XX/XX/XXXX. I was living out of town for through XX/XX/XXXX and upon my return found the documents to get my loan up to date and submit a Partial Claim. I immediately called and was given a phone number to get a mobile notary to my house to sign the papers. During that phone call, I explained that I had been out of town and didnt realize there were document waiting for me. I received no emails and no phone calls. I was told at that time to just start making the payments and it would be fine. After several attempts to get the document notarized no call backs, two no shows for scheduled appointments, I paid a notary {$100.00} to come to my house and sign the documents. During all of this time, I was in weekly contact regarding my loan and was assured to keep making payments and my credit would not be impacted. I received the notice stating that at the end of XXXX credit protection would end and I went over that with the loan servicer who assured me my credit would not be impacted because I had been in constant contact, the issues with the notary and the continued payments. She told me to send in the forms that were signed. Two weeks later, I was still unable to make payments online so I called again. I was told that there were new papers sent out that needed to be notarized. I had never received those papers or any type of communication stating they were coming. I was told on the call that emails had been sent. I check my inbox and junk folders and there was nothing. I checked my voicemails and there was nothing. I told them to send the papers again and I would get them signed. I continued to make timely payments. I asked again if my credit would be impacted and the answer was no. My Partial Payment papers were finally done in XX/XX/XXXX and I was able to continue making payments. I then received a notice stating that my credit had been updated and I was showing a late payment for XX/XX/XXXX. I immediately called and put in a dispute. I explained the situation. I received no response. I called again and was told a response was sent. I looked for it and was unable to locate it in any email. The loan servicer sent it to my work email unsecured and I was finally able to access it. These messages were NEVER put in the online system message inbox so I was never able to access them. I told her all that I detailed above. I sent her a copy of my bank statement which showed the timely payments, including XX/XX/XXXX. She told me she would submit it and Id hear back. I called on XX/XX/XXXX for an update and was told a message was sent. I did receive a message on my work email, but when I went to the link it said it was expired. I asked the loan servicer to send me the letter. I finally received the denial letter and was given a general email ( XXXX ) to dispute it. The same day, I provided all of this same information, including images showing the payment withdrawals from my account, to that email. I never received an email or phone response. On XX/XX/XXXX, I pulled my credit again and there was a new 60 day late mark for XX/XX/XXXX. I resent the same email as on XX/XX/XXXX asking for an update and for them to review/ remove the new late payment. I never received a response. The communication process has with this company has been extremely difficult. I was told things that are proven not to be true. I am in the process of refinancing my loan and this is impacting my new rates as well as any future options I may have. I continued to work with the processor at NewRez, after escalating the issue because there was no communication with her on my refi either, and I finally heard back from her on XXXX XXXX, XXXX stating she was out the entire week before but that she now needed to pull a whole new credit report. I told her about the disputed late payments and she agreed to reach out to the credit department to see if she could get a resolution. On XX/XX/XXXX she sent over a notice showing my payments were made, but that they applied them to the past due balance which was already being processed through the mitigation process and not to the new payments, which is why they showed late. She agreed that this did not seem correct and that it should be updated and said she would reach out internally to get it fixed. On XX/XX/XXXX she said they reviewed the file and the late payments will stand. I asked her for direct contacts to who denied my request so I could work with them directly. She sent me the same general that I have never received a response from previously. This is not an accurate credit reporting. I did every thing I was supposed to. I stayed in communication. I made the monthly payments after the COVID forbearance ended. This needs to be updated with the credit bureaus ASAP so I can move forward with my refinance.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: MN
Zip: 55407
Submitted Via: Web
Date Sent: 2021-11-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A