Date Received: 2021-06-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We keep getting Unknow fees added to our mortgage payment each month. When calling several times and on phone for long periods of time, none of the employees can answer what these fees are and why we have them. They say email the loan department as they dont take any calls XXXX how can I not even speak with the loan department in 2021 ) and then wait 30 days. You wait and then receive a decline email with no answers. SHELLPOINT MORGAGE-stop taking peoples money.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 01545
Submitted Via: Web
Date Sent: 2021-06-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-08
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: The NewRez loan servicer company that is part of Shell Point Mortgage, is a horribly run business without the ability for business units to speak to each other. While being bounced around between customer service, insurance, and escrow, I can see there is no congruity or ability to work together to resolve a customer 's needs and actually caused me many hours on the phone during my normal workday. I had to re-enter my personal information for each new department and any time someone said " let me connect you with them '' it was a blind call transfer which required more on hold time. They appear to have no way to escalate an issue to a reasonable altitude to resolve an issue and only have the different departments point a finger at each other. This experience started in XXXX when they picked up my re-fi and created an escrow account for flood insurance. After repeated requests between XX/XX/XXXX and XX/XX/XXXX, this company has ignored the exceptions built into the Homeowner Flood Insurance Affordability Act of XXXX. I've carried my insurance through the XXXX for 10 years now and I should be allowed to maintain that relationship instead of being forced to contribute to an escrow account that doubles the cost of my flood insurance. At the very least this company should be able to say, " if you submit proof of insurance, we will return your escrow to you in full '', but they don't appear to have the forethought or ability to perform this simple action. The removal request I sent in included the below text : 339.5 Escrow requirement. ( a ) In general -- ( 1 ) Applicability. Except as provided in paragraphs ( a ) ( 2 ) or ( c ) of this section, an FDIC-supervised institution, or a servicer acting on its behalf, shall require the escrow of all premiums and fees for any flood insurance required under 339.3 ( a ) for any designated loan secured by residential improved real estate or a mobile home that is made, increased, extended, or renewed on or after XX/XX/XXXX, payable with the same frequency as payments on the designated loan are required to be made for the duration of the loan. ( 2 ) Exceptions. Paragraph ( a ) ( 1 ) of this section does not apply if : ( i ) ... ... ( ii ) ... ... ( iii ) Flood insurance coverage for the residential improved real estate or mobile home is provided by a policy that : ( A ) Meets the requirements of 339.3 ( a ) ; 339.3 Requirement to purchase flood insurance where available. ( a ) In general. An FDIC-supervised institution shall not make, increase, extend, or renew any designated loan unless the building or mobile home and any personal property securing the loan is covered by flood insurance for the term of the loan. The amount of insurance must be at least equal to the lesser of the outstanding principal balance of the designated loan or the maximum limit of coverage available for the particular type of property under the Act. Flood insurance coverage under the Act is limited to the building or mobile home and any personal property that secures a loan and not the land itself. ( b ) ... ... ( c ) Private flood insurance -- ( 1 ) Mandatory acceptance. An FDIC-supervised institution must accept private flood insurance, as defined in 339.2, in satisfaction of the flood insurance purchase requirement in paragraph ( a ) of this section if the policy meets the requirements for coverage in paragraph ( a ) of this section. 339.2 Definitions. Private flood insurance means an insurance policy that : ( 1 ) Is issued by an insurance company that is : ( i ) Licensed, admitted, or otherwise approved to engage in the business of insurance by the insurance regulator of the State or jurisdiction in which the property to be insured is located ;
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-06-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-07
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I started my refinanace process in XX/XX/XXXX. I have excellent credit and NewRez seemed to put me on the back burner I'm guessing because rates were falling. My loan was suppose to close on XX/XX/XXXX and NewRez did NOT have my numbers correct - mainly Escrow amounts. They delated a bit longer until we finally closed in XX/XX/XXXX. It was an awful experience to have an incompetent person at NewRez not able to do simple math to get my loan closed after taking 3 months on a clean refinance. I do not feel this was handled correctly. My guess is they were pushing loans through at 2 %, when mine was locked at 2.5 %.
Company Response:
State: ID
Zip: 83714
Submitted Via: Web
Date Sent: 2021-06-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: They put you on hold. They don't come back to answer. Over and over again. All this info on shell point mortgage is all available thru the XXXX XXXX XXXX The company lies to credit companys. I'm 8-0 against the shellpoint on lies to the Shellpoint regarding my mortgage and credit reporting. Never missed a payment. This company tries to trap you with all kinds of fees and lies.. They have harrassed my family, and credit reporting. The government needs to hold them responsible for harrassing me and other people. I've got all the info letters of harrassment, and the lies and fees. This is out of control, so many lawsuits, just like XXXX XXXX. They paid out XXXX XXXX. XXXX XXXX is a part of shellpoint. thank you for your time and help.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33919
Submitted Via: Web
Date Sent: 2021-06-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX, we had a major flood at our home. It required us to be moved into temporary housing until we could have renovations done. Our insurance company completed their estimate and issued a check to us and the mortgage company. We signed the check and sent the check to our mortgage company for endorsement. They sat on the check for 10days before moving forward. they then issued {$6600.00} from a {$26000.00} check. This amount was to get the contractor to 25 % completion which was a joke, because the funds were based upon a {$44000.00} completed job and 25 % complete was not {$6600.00}. They have since wasted 4 weeks and have not released any more funds so we can get back into our home, I have paid for overnight services for the check to be sent. Our contractor has called, our insurance company has called and let them know its holding up progression. They have yet to release anymore funds as requested. They are now playing with the funds saying it takes 7-10 days to get a check printed. Meanwhile we are being charged more from contractor because the price of materials have went sky high. The company that is holding the money is XXXX XXXX, located in Michigan. There are several similar complaints about this company at the XXXX for doing the exact same practices and causing major issues to homeowners.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: GA
Zip: 30294
Submitted Via: Web
Date Sent: 2021-06-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-05
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: On XX/XX/2021 I called XXXX XXXX XXXX NMLS # XXXX ) with NewRez LLC to only inquire on NewRez 's underwriting guidelines/policies/procedures concerning a " special piece of property '' that I own. I did not call XXXX XXXX to apply for a new loan. On this same day, XXXX XXXX was given my many questions, and he stated that he would get back with me with these answers. Later on XXXX sends me an email stating " thank you for applying for a mortgage with NewRez '', while ignoring my request to first answer my questions by email to me before any new loan was started. XXXX made an inquiry on my credit report without my permission. Three days later, I learn that XXXX has issued a " Statement of Credit Denial '' based on " Excessive Obligations in Relation to Income ''. I never sent XXXX any verified income documents. I did tell XXXX that I had additional income ; and that if needed, I could add my wife 's income ; which would qualify if added. XXXX never answered my questions by email to me. XXXX was so incompetent, that he attempted to call me many times by dialing a wrong phone number. I fear that XXXX has damaged my excellent credit score ( over 800 ) with this fraudulent credit denial. XXXX issued a CREDIT DENIAL simply to get rid of me ; and not answer my questions.
Company Response:
State: MO
Zip: 657XX
Submitted Via: Web
Date Sent: 2021-06-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-04
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I applied to refinance with existing mortgage company 6 months ago. They immediately did an appraisal and charged me for it. I have been a customer with them for four or five years and never even had a late payment. I have submitted every document they have requested but nothing has happened. Meanwhile the rates have gone up and I would have to start over with another appraisal fee. I do not hear anything from them anymore. I should at least be entitled to a refund of the appraisal fee if nothing else. Each month that they do nothing cost me another {$250.00}. I am XXXX years old and this has been very very stressful for me. The name of the company is NewRez. My initial mortgage company switched me to them.
Company Response:
State: CA
Zip: 92054
Submitted Via: Web
Date Sent: 2021-06-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The mortgage company claims that they post my payments to my account on the date that they receive them, but my statements show that this is not true. My XX/XX/XXXX statement shows a {$400.00} payment received on XX/XX/XXXX that was put in a suspense account and not applied to my mortgage account. That statement also shows a payment due amount of {$300.00} due on XX/XX/XXXX. My normal monthly payment is {$700.00}, thus they are acknowledging the extra payment was made but did NOT put it in my account. My XX/XX/XXXX statement shows the money finally being deposited on into my mortgage account on XXXXseveral days after they received received the payment. It looks like they changed their process in XX/XX/XXXX. I send 2 checks automatically one for the regular mortgage payment and a second one for the extra principal payment. Prior to XX/XX/XXXX, they would post two transactions on my statement on the same day the regular payment and the extra principalboth going directly into my account. On XXXX they started posting my extra principal check to a suspense account instead of posting it directly to my account. They would later move it out of the suspense account and the finally credit to my mortgage account. In other words, my principal payment was passing through a suspense account instead of going directly into my account. They did not do that to my regular payment. So in XXXX I had a total of 4 transactions ( 3 for the principal only payment ; 1 for the regular payment ) on my statement instead of 2 transactions. On XX/XX/XXXX they received my principal payment and posted it to a suspense account. On XX/XX/XXXX they posted my regular payment. Then my statement was sent to me. The credit of my XXXX payment was not applied to my account until XXXXthey left it in the suspense account. It is also curious is that my automated payments have not changed in probably a decade. They have typically arrived a day or two before or so before the first of the month, but now with NewRezs processing changes the payments are dated as being received 3-4 days later, curious that maybe the check posting process is taking longer with these addition accounting moves with suspense accounts. Compounding this, when my mortgage was transferred in XXXX and my payments were going to my old mortgage company, they were transferring the payments to the new mortgage company over ~2 weeks after they had been received by the original mortgage company. I was told there was not a penalty to me for that, but I am now concerned that the delay of the transfer from one mortgage company to the other may have resulted in extra interest costs for me.
Company Response: Company believes the complaint is the result of a misunderstanding
State: IL
Zip: 602XX
Submitted Via: Web
Date Sent: 2021-06-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: 'NewRez mortgage company has stated that I requested that my complaint be closed. That is absolutely not true!!! The Mortgage company instructed to me that they would close the escrow account that they were trying to establish and I agreed to that only nothing else. How convent for the mortgage company to conveniently for their benefit say something incorrect and false. The mortgage company is stating that they paid for XXXX and XXXX XXXX XXXX taxes. They have never paid our taxes. All taxes have been paid by the XXXX 's since owning the house. We have never signed or given permission for anyone to pay our taxes. There is no signed document on file given anyone permission to do so. NewRez mortgage companies stating that they paid money in XXXX toward our taxes. The money that was sent was sent back to the mortgage company. In no way would we have been allowed to owe money from XXXX and the money is being requested back in XXXX. That doesn't make since. As the law states " if you are 65 years of age or older, or have an exemption because you are XXXX you can be placed on a payment plan. '' Which myself XXXX XXXX XXXX XXXX is XXXX XXXX and therefore given the legal right to do so. I know NewRez Mortgage Co is aware of that and therefore I can not understand why my wife and are are being harassed as seniors and XXXX XXXX 's and XXXX. There is one payment from NewRez Mortgage Co sitting in the tax office not being applied to anything!! It can't be applied because the taxes have been paid by XXXX XXXX XXXX no one else. The tax office is stating " REQUEST YOUR MONEY BACK!!! ' NewRez has placed late charges on XXXX XXXX credit because they have decided to take the mortgage payment and try to HARASS us seniors into having a escrow account by putting the money somewhere else. We are not and have never been late with our Mortgage not with NewRez or any mortgage we have ever had in our lives with the three homes we have owned. If we owed Money why did NewRez return mortgage payment back to us? Please stop have fifteen different people talking to us to correct this and maybe you can straighten this out if you really want to. Is it NewRez, Is it Shell-point? Who's is actually in charge?
Company Response: Company believes the complaint is the result of a misunderstanding
State: TX
Zip: 77406
Submitted Via: Web
Date Sent: 2021-06-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-03
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: My complaint is with Newrez my existing Mortgage Company. Because I was approved for modification in XXXX. I started looking into refinancing in XX/XX/XXXX. I was approved by XXXX XXXX XXXX at a interest rate of 2.75 %. Before the process was complete in early XXXX I was contacted by XXXX XXXX of Newrez. Who said he would match that offer and the closing cost would be 60 % less because I was an existing client. I filled out all the e-documents and provided all necessary information. The Conditional Approval I received had a interest rate of 3.375 % XXXX XXXX told me it would be adjusted at closing. I have not heard from him since XX/XX/XXXX. There was a hard stop placed on my application and no one at Newrez could tell me why. I spoke with XXXX XXXX. Who is my Loan Processor at Newrez. Who told me he didn't know what happened but the hard stop would be removed by in early XXXX. So that it could go to the Underwriting but after 4 more weeks it still have not gone to closing. It has been almost 3 months and nothing has been done. Today I received a new e-documents that says my interest rate is 3.488 %. It has gone from 2.75 % to 3.488 % since I began working with Newrez and no one is currently spoken with me personally about this. After dozens of calls. It is well past the 30 days I was told it would take or the 60 days it would normally take. I past on a deal I had in place to take this offer from Newrez but they've been doing their best to fulfill their part. They have been totally negligent and fulfilling their part of the deal and keeping me informed. I wish this have been completed already I'm going into my 90th day of this process. Which is why I think my interest has increased because it's been over 60 days and they're not making me a new offer with a higher rate. I put the blame on XXXX because he initiated this but has not been transparent with information that I need to know during this process I reached out to him several times but now he's saying that I was on a Do Not Call list even though I have called him dozens of times and left messages which you did not respond to any of them. Please do what you can to help me resolve this issue I am now beyond the point where I can do things on my own. Thank you very much. XXXX XXXX
Company Response:
State: GA
Zip: 30062
Submitted Via: Web
Date Sent: 2021-06-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A