Date Received: 2021-04-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We refinanced our loan in the spring of XXXX. Our original loan was with XXXX and was sold to ShellPoint Mortgage Services. Our loan was paid for through XXXX of XXXX with XXXX. My first bill from ShellPoint came on XX/XX/XXXX with a due date of XX/XX/XXXX. I was told that I would not have a XXXX payment when I called initially on the purchase of the loan, but still received this bill. We paid this bill on XX/XX/XXXX and then paid again on XX/XX/XXXX for an additional 2 months of loans. We also paid in XXXX. I have talked now to 4 different representatives of this company and I get a different story everytime I speak with them. They keep telling me that I am a month behind in payments, but I have paid 4 monthly amounts and received 4 bills, so there is no possible way that I am behind. I thought I made some progress with the last person that I spoke with, but she called me the next day to tell me that I owed for XXXX because they didnt get paid by XXXX. I just need to talk with someone that is competent so that we can get this accounting system error resolved. When the person called me back, I requested to speak with her supervisor in which she transfered me a a voice mail that was not set up and I could not reach anyone live.
Company Response: Company believes complaint is the result of an isolated error
State: CO
Zip: 80123
Submitted Via: Web
Date Sent: 2021-04-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-19
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: Reference : Homeowners insurance payment for the XX/XX/XXXX renewal : NewRez LLC has represented in Official form XXXX filed on XX/XX/XXXX that our Hazard ( Homeowners ) in the amount of {$1100.00} was paid in XX/XX/XXXX. Your letter of XX/XX/XXXX ( in response to complaint # XXXX ) states your insurance department requested a payment be sent out for {$1200.00} on XX/XX/XXXX Your letter of XX/XX/XXXX ( in response to complaint # XXXX ) says the payment for the Homeowners policy was issued on XX/XX/XXXX for {$1200.00}. We asking that you check your records from all internal resources available and advise us the date that payment was issued for our Homeowners policy renewal on XX/XX/XXXX.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX, I sent a secure message through the shellpoint self servicing site asking why when my mortgage was transferred to Newrez/Shellpoint, my Hazards insurance Mortageee clause has not been updated to Newrez, and continues to show XXXX XXXX, my prior lender before transfer, and asking if I should be updating it myself. On XX/XX/XXXX, I received a reply in email for someone else 's loan and data included, saying they acquired my loan on XX/XX/XXXX ( My loan closed on XX/XX/XXXX ), with subject line showing " RE : Contact Reply XXXX ''. That is not my loan number, the correct loan number is XXXX. Further, it said I did not escrow for hazard insurance. Clearly in my closing documents, signed escrow disclosure I did and still am escrowed for hazard insurance, and it scheduled to disburse in XXXX. I am very concerned about my data being kept with newrez, and wonder how many other customers this may have happened to. To this date, I have not got a answer to my question, and am concerned about receiving other loans data, and want to make sure my loans data was not shared with any other customers. This is very sloppy loan servicing at best, and have only had Newrez for a couple of months.
Company Response: Company believes complaint is the result of an isolated error
State: NJ
Zip: 07960
Submitted Via: Web
Date Sent: 2021-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: For the past XXXX I have paid rent and mortgage by allotment from XXXX XXXX and XXXX XXXX XXXX XXXX XXXX. In XXXX XXXX the mortgage went from XXXX to NewRez/Shellpoint. XXXX mailed all payments on-time ; no checks were returned to XXXX, and funds were taken from my account monthly, on schedule as normal. XXXX Military Pay Technician, XXXX XXXX and I discovered the checks were going to the correct address with the old mortgage company name XXXX. I have called, emailed, uploaded required documents to their website. As a consumer I am concerned that my account was mishandled. A blemish on my credit report effects employment opportunities, interest rates, insurance rate, among other things. I request a review of how NewRez/Shellpoint processes mail in check payments. I was falsely accused of a delinquent account, is this happening to other NewRez/Shellpoint customers? XXXX or I, do not understand why the checks were not returned to XXXX, which would have alerted everyone something was wrong. Payments : XX/XX/XXXX, Check # XXXX, Amount : {$570.00}, Pay Date : XXXX XX/XX/XXXX XX/XX/XXXX, Check # XXXX, Amount : {$570.00}, Pay Date : XXXX XX/XX/XXXX XX/XX/XXXX, Check # XXXX, Amount : {$570.00}, Pay Date : XXXX XX/XX/XXXX XXXX TABS XXXX. Email XXXX Sun, XX/XX/XXXX, XXXX. Email XXXX, Fri, XX/XX/XXXX, XXXX. Letter XXXX XXXX XX/XX/XXXX, Subject : MISC Disc Allotment NewRez/Shellpoint Mortgage XXXX. Letter XXXX XXXX XX/XX/XXXX, Subject : MISC Disc Allotment NewRez/Shellpoint Mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22485
Submitted Via: Web
Date Sent: 2021-04-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: For the month of XX/XX/XXXX we received a billing statement that indicated an escrow shortage. According to our records this is highly inaccurate because we have had sufficient funds in our escrow account the whole year. We called Shellpoint many times but the phone line kept going in a loop where I would always end up at the main menu even after indicating several times that I would like to speak to a representative. We were unable to reach them via the phone. Thus we made our normal {$610.00} payment for the month of XX/XX/XXXX because we wanted to get in touch with Shellpoint first so we can fix the issue. For the month of XX/XX/XXXX we paid the indicated amount of {$1000.00} because we were still unable to get a hold of them. After numerous failed attempts to reach them via the phone, we submitted an inquiry via their online servicing site on XXXX ( Attachment 1 ) and we made an account on NewRez on XXXX to see their secure message but after logging in we only saw the welcome email that was there and no other email!! We sent another inquiry/complaint on XXXX ( Attachment 2 ) and received a response on XXXX ( Attachment 3 ) saying that the reason we have such a large shortage in the escrow account in the amount of {$2300.00} is due to the additional XXXX that was included. The new billing statement included the missing XXXX amount for {$200.00} every month, the current XXXX of {$200.00} each month, the regular escrow amount of {$190.00} and the principle and interest, thus making our monthly payment {$1000.00} plus a late charge of {$0.00} even though we have never been late on making payments XXXX Attachment 4 ). They have consistently been charging us late fees even though we have never been late on our monthly payments, as it can be seen in the payment history ( Attachment 4 ). This would mean that {$400.00} is going towards XXXX each billing cycle which is outrageous because that would mean that we are paying double towards XXXX than we are towards our principle balance. After reviewing that message we sent two more inquiries/complaints on XXXX and XXXX ( Attachment 5 and 6 ) requesting them to look over our escrow account again and to apply our monthly payments correctly because they wrongly applied our normal {$610.00} XXXX payment ( Attachment 7 ) to the principle balance for the month of XXXX XXXX Attachment 4 ). They sent a letter stating that we missed our XXXX payment even though we had indicated on the check that this was in fact the payment for XXXX and they were the ones that applied it wrong. We havent heard back since then. The response that was sent on XXXX was also deleted and can no longer be accessed by us ( Attachment 9 ). We no longer feel comfortable speaking on the phone with them because we would prefer a written response that can be saved! We dont trust them to be honest with us over the phone. They have been calling non-stop for the past few weeks but dont leave a voicemail regarding the purpose of the call. This feels extremely predatory and fraudulent. They sent a letter stating that they require a bit more time to review our account ( Attachment 10 XXXX but they did not hesitate to send us a letter stating that we have missing payments and indicated that we may be at risk for foreclosure and that our credit scores will be affected ( Attachment 11 ). We have continued to make regular payments to Shellpoint throughout the pandemic even after losing our jobs, going further by paying more towards our principal balance each month and even during this issue with the escrow accounts in the recent months. Our payment for the month of XXXX ( Attachment 12 ) is not being applied to our account but rather being placed in a separate account. This has put my loan in default and is putting me at risk for foreclosure. Doing a forbearance with Shellpoint is not an option since I can afford to pay my original mortgage amount of {$610.00}. When our loan was sold to Shellpoint in XX/XX/XXXX they sent a letter to us letting us know how much our monthly payments will be and what they money will be applied to ( Attachment 13 XXXX. This statement includes all our loan information and states that our monthly payment will be for {$610.00}, with {$420.00} being applied to the principle and interest and {$190.00} being applied to the escrow account. Shellpoint can not change the contract midway through and harass us regarding missing XXXX payments that we werent even informed about and did not agree to. We were not provided any information regarding this XXXX charge prior to this year. We have had our mortgage financed by other companies like XXXX ( Attachment 14 ), GreenTree XXXX Attachment 15 ), and Ditech XXXX Attachment 16 ) and we had a lower equity on the home with them but have never had such a high PMI payment. We currently have more than 20 % equity on our home, thus according to the Homeowners Protection Act, our XXXX should be cancelled! Shellpoint is trying to intimidate us by moving our payments to a separate account and making our loan default and ruining our credit scores. I do not trust Shellpoint because they have hundreds of complaints against them ; some of which mirror our struggles.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 601XX
Submitted Via: Web
Date Sent: 2021-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-18
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I started a refinance of my home located at XXXX XXXX XXXX, XXXX Az with NewRez LLC who services my mortgage currently at their request by email in XX/XX/XXXX. The first loan application loan # XXXX went inactive because NewRez system inactivated the loan because they didn't do anything with it. I had paid XXXX dollars for an appraisal that was never done. The second loan was started in XX/XX/XXXX loan # XXXX and NewRez took more money for an appraisal out of my Bank account again. After threats of criminal charges being files against the loan Officer XXXX XXXX, the money for the second appraisal was returned to my account. The appraisal for the property was finally done late XX/XX/XXXX and filed with NewRez on XX/XX/XXXX. The loan did not proceed. In the mean time I was served with a Divorce Action from my wife. NewRez was informed of the court papers fully. Nothing happened with the loan even with numerous phone calls and emails to the business. I filled a complaint with the XXXX XXXX XXXX in XXXX DC. Then NewRez gave me a conditional approval with a request to have a copy of the Final Divorce Decree. The Decree was supplied on XX/XX/XXXX, and additional financial documents they requested. A loan processor was assigned identified as XXXX XXXX who emailed me him being assigned as the loan processor. I have made many attempts to call and email him. He never answers his phone or answers emails. I was contacted by XXXX XXXX on XX/XX/XXXX, by her calling my cell phone. She told me she was working with Mr. XXXX and she wanted additional financial documents that have been supplied numerous times before. She wanted current documents and I supplied them via the internet. Still no action on the loan application even though it had been approved with conditions that had been met. On XX/XX/XXXX I emailed Ms XXXX and asked why the loan was not proceeding. She emailed me back to contact the Processor Mr. XXXX with any concerns. I emailed him on XX/XX/XXXX and still no answer. Mr. XXXX has never responded to emails or phone calls. I do not know how to get this company to finish this refinance and get the loan documents to me to sign. They are avoiding any actions in regards to this refinance and there is no reason it should not proceed, I check their web site with my account daily to see if they have any requests or actions and nothing is seen. I need help getting this to proceed, This refinance has cost me time and money with little or no actions of this mortgage company. Can anything be done.
Company Response:
State: AZ
Zip: 859XX
Submitted Via: Web
Date Sent: 2021-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-18
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I already reached out to the credit bureaus and to NEW RES-SHELLPOINT MTG for the account number XXXX and notify them of their error posting for this account. It does not compliment what the Credit bureaus may claim as a " validated as accurate ''., and I have been monitoring my credit report for any changes since my several dispute letters, but I am yet to see the correction that I asked for and desperately need. I had also requested the method of verification, actual proof, and physical firsthand documentation of the payment history but I did not receive what I asked for and these violations persist on my credit report. I just had to escalate to CFPB.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 90501
Submitted Via: Web
Date Sent: 2021-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-16
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: On Monday, XX/XX/XXXX, I officially started the refinance process with XXXX XXXX of NewRez LLC. XXXX XXXX wanted me to make " quick '' decisions as interest rates are always changing. Long story short, I paid NEW REZ LLC for an appraiser to come out to do an appraisal ( the amount of the " original '' appraisal was misquoted by XXXX XXXX and an additional {$50.00} was charged - separately. ) I promptly provided ALL documents requested AND submitted UPDATED documents ( pay stubs, W-2 's ) as the time went on, and on, and on - apparently each month a new pay stub was needed since this process was not " wrapping '' up. On XX/XX/XXXX, I received an email from XXXX XXXX informing me my loan had been " conditionally approved. '' On Janary XXXX, XXXX, I received an email from XXXX XXXX informing me she was my mortgage processor and would taking care of my loan. Fast forward to XX/XX/XXXX, XXXX XXXX stated she would like to get the loan closed by XX/XX/XXXX and that I needed to sign a new lock rate extension as the first was expiring. On XX/XX/XXXX, I received an email from XXXX XXXX who was STILL working on my loan and that she was hoping to have it closed by XX/XX/XXXX. Well, here I am today, XX/XX/XXXX and still NOONE has returned my numerous emails and countless daily phone calls. It seems that I am not the only person this is happening to - if you look at the reviews on their website ( which show a XXXX average ) there are COUNTLESS reveiws that read the same as mine. As a Math teacher, I can not figure out how the COUNTLESS one stars add up and average to XXXX - NEW MATH? I have since moved on to another mortgage company today - as the most recent email from XXXX XXXX stated she was hoping to have it close by XX/XX/XXXX which has come and gone AND I have not heard from anyone from this company. I WANT my appraisal fee returned as this is BAD BUSINESS, actually NO BUSINESS!
Company Response:
State: CA
Zip: 95340
Submitted Via: Web
Date Sent: 2021-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-16
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: XX/XX/2018 I purchased a home with Shellpoint mortgage service and I made my payments and they report as late. Payment was made on time. They destroy my credibility and credit worth. I need help please.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NC
Zip: 27609
Submitted Via: Web
Date Sent: 2021-04-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-16
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: To : Consumer Financial Protection Bureau Re : Complaint - ShellPoint/NewRez Mortgage The following statement serves as an addendum to the attached complaint ( doc ). As the closing deadline has passed, we are now faced with a fee of {$1200.00} to extend the rate lock with XXXX, which is now an additional expense coupled with the unwarranted late fees imposed by ShellPoint/NewRez. Following a review via ShellPoints online portal, they applied our overpayment for the month of XXXX by assessing another late fee despite being told that the payment would not be late if made by the XX/XX/2021. This too was a result not being fully informed regarding XXXX payment as we were in the process of a closing date. This situation has presented us with a significant loss of thousands of dollars in savings, by the unfortunate actions and inaction of ShellPoint/NewRez. Subsequently we have lost the opportunity for our VA IRRRL. Our current mortgage rate with ShellPoint is 3.5 % and new IRRRL was locked at 2.875 % with XXXX. ShellPoint also delayed acceptance of the electronically signed Borrowers Authorization Form, informing the title company that the e-Signed request was not acceptable ; the hand-signed copy was subsequently accepted, thereafter. There were response time delays as well. This is truly heartbreaking and unacceptable behavior from a financial institution. As a veteran, I served my country, live a life of integrity, pay my taxes and bills. My wife and I are justified in forecasting a future with reduced debt via the now missed opportunity for an IRRRL. The adverse impact to my credit rating is unjust. This experience with ShellPoint/NewRez is suspect regarding the timing - as we were on the cusp of closing with XXXX. I have included a 1 year ACH payment history demonstrating on-time payments. XXXX, XXXX XXXX
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: MD
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A