Date Received: 2021-03-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am complaining about Shellpoint Mortgage Servicing. Recently my attorney sent the servicer the sum of {$170000.00} to pay down the principal of my mortgage and the servicer sent the money back for no reason.
Company Response:
State: NY
Zip: 11234
Submitted Via: Web
Date Sent: 2021-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My husband died in 2010. His name was on the mortgage account. I am XXXX senior and unable to work or do much. However, I tried to keep my payments up. My home was badly damaged in the ice storm. XXXX refused to issue the money to the repairman to fix it. I have been living with leaks and in the cold since then. But I just pray and try to get by. I don't have anyone to help me. XXXX sold to XXXX and XXXX sold to XXXX. No one at any of these companies will help me. I have called and tried to speak with XXXX XXXX as she is supposed to be handling the account. Now she won't speak to me about the stautus because my name isn't on the account. However, they continue to send me the bill and call and leave messages about how it's behind. I am unable to go to court. I explained that I am immobile and can not go to a court house to get executorship. They keep sending all these bills that I can't afford and yet they won't talk to me. My kid used to help but because of covid can't help me anymore. XXXX XXXX Is my husband whose name is on the account. XXXX. I would like for somebody to please help me stay in my house. Everyone is calling me telling me it's going to get sold. I will be put out in XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30329
Submitted Via: Web
Date Sent: 2021-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My lender keeps on lying and giving false information. I submitted an application for loss mitigation to keep my home but they stated the investor does not offer Modification that is why there was no review made. They accepted the application and now they are telling me that my application cant be reviewed when they clearly said that I have options. They are not helping me at all with situation. All I want is help to save my home and have my application reviewed and modified.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 01845
Submitted Via: Web
Date Sent: 2021-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-30
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I have a negative item on my Fica XXXX Report. The Account is with New Res - Shellpoint MTG Account # XXXX mortgage Account. it's a second mortgage. This account Original creditor was Green Tree Serving it was sold to a company that sold it to the above mentioned Creditor. This account was Discharged in Bankruptcy Court Case No XXXX. XXXX XXXX It is ordered that has been fully administrated. Chapter XXXX discharge. Dated XX/XX/2011. Shellpoint MTG can not give any payment updates or anything to any of the credit reporting Agencies.They have not corrected this!
Company Response: Company believes complaint is the result of an isolated error
State: PA
Zip: 183XX
Submitted Via: Web
Date Sent: 2021-03-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-30
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Shellpoint Mortgage Servicing Loan # XXXX Date XX/XX/XXXX RE : Failure to honor 2nd forbearance agreement, leading to erroneous loan default beginning XX/XX/XXXX and continuing through the present. To whom it may concern : I applied for the CARES Act due to the hardships and uncertainty surrounding the COVID pandemic as it affected our household. I understood that all I needed to do was to submit a letter stating our hardship and a loan forbearance would be forthcoming. I have 2 separate mortgages ( for 2 properties ) one with Shellpoint Mortgage Services ( SMS ) and a second with XXXX XXXXXXXX XXXX ( XXXX ). With my XXXX mortgage I have spent literally 30 minutes in total arranging a forbearance agreement ( XX/XX/XXXX thru XX/XX/XXXX ) along with a loan modification agreement ( payments resuming XX/XX/XXXX ), without submitting a single document. I expected a similar process with SMS and this was not the case and the result has been highly complicated, stressful and placed my home at risk of foreclosure. So if they are not allowed to demand documents then this nightmare could be over in moments. SMS provided the initial 3-month forbearance with little difficulty, however when I applied for a continuation of the forbearance agreement I was met with obstacle after obstacle, obfuscation of what was required of me and continued confusion about documents required and received. My single point of contact ( SPOC ) changed 3 times in the matter of a month and XXXX XXXX ( my official SPOC ) was never directly available to talk with ( not once did we speak directly despite repeated attempts on my part ) and her surrogates were uninformed and unable to reliably confirm where I was in any process ( initially of forbearance, then of loan modification ) ever. What I understood to have happened was I was never approved for a second loan forbearance because I was unwilling to provide the bank statements of my employer. I freely offered all my personal bank statements as requested, inquired as to why SMS would need my employers bank statements and never received a reply to my inquiry, in fact I never received any replies to any of my email and letter inquires literally ever from SMS or Ms. XXXX. I was in regular phone contact ( phone records available ) with SMS employees who were unable to answer my questions since they were not my SPOC. At the end of XX/XX/XXXX when I realized my financial situation had improved and I no longer needed the loan forbearance, I requested a loan modification. SMS appeared to shift to processing my loan modification request, but since my loan had never made it through the forbearance process my loan was then considered to be in default. Due to the lack of communication from my SPOC ( outside of conflicting form letters see attached documents ), I thought SMS was processing my loan modification request as XXXX began, so I successfully submitted my XXXX mortgage payment online. I continued with the XXXX mortgage payment only to discover SMS had cancelled my ability to submit payments online, so I mailed my mortgage payment only to have it returned by SMS a few weeks later. I have reviewed all correspondence between SMS and myself since this process began. If as the CARES Act states, documentation is not required for loan forbearance or loan modification, I find this entire experience intolerable, unnecessary, and horrifically stressful. I am now facing close to {$3000.00} in late fees, foreclosure fees, etc., not to mention the adverse effect this will have on my credit rating which to date has been exceptional. I am asking that all fees related to a so-called default leading to a foreclosure be removed, that my loan forbearance be honored beginning with XXXX of XXXX thru XXXX of XXXX and that my loan modification be completed immediately with all amounts due ( minus all late fees, etc. ) moved to the end of the loan interest free, and that my credit rating be restored. Timeline of events - highlights : ( see attached documents in chronological order ) XX/XX/XXXX I was originally given a 3-month forbearance ( with one additional month added later ). Account was originally assigned to SPOC XXXX XXXX as of XXXX, then SPOC XXXX XXXX on XXXX and finally arriving at the desk of SPOC XXXX XXXX on XXXX. On XXXX I received the letter required by Federal law informing me of my options. XXXX Requested continued loan forbearance. XXXX Requesting clarification for why SMS SPOC is requesting my employers bank statements. Form letter received stating that my forbearance plan has been extended through XXXX ( 4 months ). XXXX Phone call at XXXX with SMS where I was told that my loan forbearance was granted from XXXX thru XXXX but not by my SPOC XXXX This verbal confirmation made me think that our situation was finally resolved, when in fact it was not. This was only the first of many conflicting messages from SMS. XXXX SPOC requested documents, they were provided, minus my employers bank account statements. XXXX Letter from me requesting continued forbearance and answering questions from SPOC. XXXX - SMS sent letter saying documentation missing which I provided on XXXX ahead of their XXXX deadline. XXXX Spoke with XXXX XXXX of SMS ( since SPOC not available ) regarding letter dated XXXX from SMS, who recommended sending the letter dated XXXX requesting further forbearance and answering more questions. XXXX I continued to request forbearance and included a loan application ( Form XXXX XXXX XXXX XXXX ), Profit and Loss for XXXX thru XXXX per SPOC request. XXXX SMS notice that I am in default prior to foreclosure. This came as a shock. XXXX to XXXX -Back and forth emails about missing documents. XXXX SMS confirms my application for forbearance is COMPLETE. XXXX SMS confirms my application is INCOMPLETE ( another mixed message ). XXXX SMS confirms my application is COMPLETE ( Is it or isnt it? ) XXXX I complete XXXX mortgage payment online for {$3400.00}. I think ( erroneously as it happens ) at this point that SMS is processing my loan modification request since by now I submitted a loan application and provided all my personal bank statements as well as my employers bank info, etc ... XXXX -SMS reports that I have not applied for a loss mitigation workout after forbearance and that my loan is past due for the XXXX installment ( but I actually had a forbearance agreement that began in XXXX and continued thru XXXX another confusing and inaccurate communication ) XXXX I request from my SPOC the status of my loan modification request and received no reply whatsoever My SPOC is still focusing on transfers from my bank statements while I am being foreclosed upon!! XXXX I reply to her questions. XXXX SMS replies that my loan is in default and that foreclosure proceedings have or may commence soon. XXXX SMS reports that my application is once again COMPLETE and this has granted you protection from foreclosure, yet on XXXX thru XXXX I am assessed {$1600.00} in fees related to foreclosure. This is just not right ( see mortgage statement dated XXXX ). XXXX SMS reports that my documents are once again INCOMPLETE and that I have until XXXX or we may conclude that you have withdrawn your request for loan mitigation XXXX SMS reports that my application is COMPLETE, and they will need 30 days to complete their assessment. XXXX SMS returns my XXXX mortgage payment. XXXX In an email I express my frustration with the process and timing and misunderstandings, that since XXXX I have been providing documents and filled out forms and information and I still have nothing to show for my efforts except a home that is somewhere in the process of being foreclosed. Not a good situation.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CO
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-03-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-30
Issue: Took or threatened to take negative or legal action
Subissue: Seized or attempted to seize your property
Consumer Complaint: Shellpoint complaint to CFPB Previous loan servicers and Shellpoint maliciously filed a complaint in Hawaii second circuit court and created fraudulent documentation to attempt to show standing to foreclose on my property. It is a federal crime and a violation of federal and state laws to engage in residential mortgage backed securities when the bank and loan servicer does not have legal title of a mortgage collateralizing the mortgage back certificates. Shellpoint states XXXX XXXX XXXX XXXX not in its individual capacity but solely as trustee XXXX pass through trust X is the owner of the mortgage deed of trust on my property XXXX, Hawaii years after the trust closed. The trust closing date was XX/XX/XXXX. Shellpoint can not prove the mortgage in question was ever securitized into any trust. Therefore they are engaging in and violating federal IRS tax laws. Shellpoint in their letter dated XX/XX/XXXX and XX/XX/XXXX states the deed of trust security instrument can be sold one or more times. Yes, thats true however it needs to be recorded in the name of the new owner or a nominee for a trust. My title and security instrument Deed of trust was never in the name of any mortgage backed security since origination. It is a federal violation To create fraudulent mortgage backed securities without legal title of a Mortgage collateralizing the mortgage backed security certificate. I ask the CFPB to have this investigated or sent to the proper federal agency to look into these mortgage backed securities Shellpoint and new residential ( NRZ ) are engaging in.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: HI
Zip: 967XX
Submitted Via: Web
Date Sent: 2021-03-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-30
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: Called the company on XX/XX/2021 they opened an investigation and reaffirmed inaccurate information on my credit report even after I submitted bank statements to prove I was right and paid on time every time.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 48111
Submitted Via: Web
Date Sent: 2021-03-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-29
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Our new mortgage company, Shellpoint Mtg, took over our mortgage right before Covid. I lost my job in XXXX like many Americans and struggled to pay the mortgage out of savings until we couldn't and requested forbearance around XX/XX/XXXX of last year. We've been in forbearance for the past 6 months ( which doesn't end for us until the end of XX/XX/XXXX ) and suddenly received a letter from the mortgage company last week with a PAST DUE amount of {$7200.00} which they will start reporting to all credit agencies XX/XX/XXXX. We were shocked and contacted the mortgage company to explain that I was still unemployed and the need the forbearance in place while I look for a job and would like the amount owed to be deferred to the end of the mortgage schedule. They explained that they refuse to allow me to stay in forbearance ( as I have no job ) and that I either need to pay {$7200.00} to avoid the negative reporting, or I could come off forbearance ( to begin monthly payment ) and request deferment at that point which would avoid the negative reporting. How am I supposed to look for a job which requires me to have decent credit, with a demand of either pay {$7200.00} right now or end your forbearance and then we'll agree to give you deferment. It's like they got me trapped and I have no choice when I don't have any options. PLEASE HELP - this can't be legal that they can negatively report that I am delinquent while I'm in forebearance. That just doesn't make any sense.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30315
Submitted Via: Web
Date Sent: 2021-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-29
Issue: Written notification about debt
Subissue: Didn't receive notice of right to dispute
Consumer Complaint: I noticed ( XX/XX/XXXX ) that my credit report is reflecting a new charge-off from Shellpoint. Upon review, I was able to confirm that the alleged debt is actually an illegal attempt to collect on a previously charged-off account from another lender. Ditech ( original creditor ) charged off the balance in XXXX. Shellpoint has never provided any documentation to support their claim or any notification that they are attempting to collect a debt or informed me that the debt can be disputed.
Company Response: Company believes the complaint is the result of a misunderstanding
State: WA
Zip: 98837
Submitted Via: Web
Date Sent: 2021-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In late XXXX, I was approved by XXXX for a 30-year 6-5/8 % fixed interest rate mortgage loan to purchase my current residence. I signed up for automated monthly ACH payments XXXX principal plus interest ), which have been routinely occurring about the XXXX day of each month. Since XX/XX/XXXX, I have made all {$670.00} monthly payments on time by ACH payment. To date, this loan has been serviced by four different mortgage servicing companies. In XX/XX/XXXX, while Ditech was my mortgage servicer, I began making additional payments of {$670.00} to pay down the outstanding principal. Since XX/XX/XXXX, I have been making two principal only payments of {$670.00}, each month, in addition to my regular principal plus interest ACH payment at the beginning of each month. I have been making these principal only payments, using my banks online bill payer service, on or about the XXXX and XXXX of each month. During the time that Ditech was my mortgage servicer, they reduced my outstanding principal balance by the full amount of each of my {$670.00} principal only payments. In XX/XX/XXXX, New Rez replaced Ditech as my mortgage servicing company. Beginning that month, Ditech began applying interest charges on some of my principal only payments. Specifically, they imposed interest charges on principal only payments that I made on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. After noting these charges on my account history, I contacted NewRez to get this resolved. I had conversations with NewRez customer service representatives on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. The representatives told me that NewRez had deducted this interest because they had interpreted these principal only payments as being future monthly payments. I told them that I understood that the terms of my loan allowed them to impose interest only at the time of my regular monthly principal plus interest payment based upon the outstanding principal amount at the end of the prior month. Each of these representatives concurred with me and assured me that they would put in a request to correct the entries in my account history and that adjustments would be made crediting me for the errant interest charges and reducing my outstanding principal balance as of the dates the errant interest charges were imposed. In XX/XX/XXXX, I noticed that NewRez had made a series of adjustments to my account on XX/XX/XXXX. I observed that none of these adjustments credited me the errant interest amounts that had been subtracted out of my principal only payments noted above. Having been unable to resolve this matter by telephone, I sent NewRez, via certified mail, the attached letter, dated XX/XX/XXXX, communicating my dissatisfaction and requesting timely resolution of my issues. Along with that letter, I enclosed a spreadsheet, attached, in which I listed all payments I had made since NewRez took over servicing of my loan and showing the correct interest charges that should have been imposed upon my account only at the time of my regular monthly principal plus interest ACH payment. My spreadsheet showed that my outstanding principal balance as of XXXX, XXXX, XXXX, should have been {$19000.00}, which was {$600.00} less than what NewRez stated it as being, {$20000.00}, in a Loan History Statement sent to me dated XX/XX/XXXX. This Loan History Statement is attached. In response to my XX/XX/XXXX, letter, NewRez mailed me a letter, dated XX/XX/XXXX. This letter did not address the errant interest charges applied on dates other than when my regular monthly principal plus interest payment was due. Furthermore, the first paragraph of this letter states that my outstanding principal balance, as of XX/XX/XXXX, was {$17000.00}. Included with this letter was a Loan History Statement, dated XX/XX/XXXX, which shows my outstanding principal balance as being {$18000.00}. Based upon the discrepancy between these two numbers, it appears to me that NewRez didnt even know my correct outstanding balance, as of XX/XX/XXXX. I am attaching a copy of the XX/XX/XXXX, letter along with the Loan History Statement that came with this letter. Incidentally, my spreadsheet calculations, which I am also attaching, show that my outstanding balance, as of XX/XX/XXXX, after having made a principal only payment of {$670.00} three days earlier, should have been {$17000.00}. This is several hundred dollars less than either of the two amounts stated in the correspondence sent to me dated XX/XX/XXXX. On XX/XX/XXXX, I once again contacted NewRez by telephone to attempt to get a rational explanation for the adjustments they had made to my account that resulted in a different outstanding loan balance from what I had calculated. Once again, the customer service representative was unable to provide me an adequate explanation. The representative again told me that the mid-month interest charges were imposed on my principal only payments because they were interpreted to be future regularly monthly loan payments. I once again explained that the terms of my loan allow them to impose interest only at the time of my regular monthly payment ( ACH transaction about the XXXX of each month ) based upon the outstanding principal amount at the end of the prior month. I further asked how NewRez could even calculate the interest that would be due on a future regular monthly payment without knowing what my outstanding balance would be at the end of the preceding month given any intervening principal only payments that I make. My current loan history, available to me on my online NewRez account shows additional interest charges having been applied to the mid-month principal only payments that I made on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. ( It does appear that NewRez has credited back the interest they applied to my XX/XX/XXXX payment and applied it toward paying down my principal. ) These interest charges were applied to my account even though I specifically stated in my XX/XX/XXXX, letter to NewRez In the future, it is my expectation that all future payments, separate from my {$670.00} regular monthly ACH payment made about the XXXX of each month, be credited as principal-only payments and that my outstanding principal balance be reduced accordingly as of the date that those payments are received. As of XX/XX/XXXX, NewRez shows my outstanding principal balance as being {$11000.00}. My calculations show that it should be {$10000.00}, a difference of {$390.00}. I have attached a spreadsheet showing how I have arrived at {$10000.00} and a copy of my NewRez Online Payment History as of XX/XX/XXXX, showing my outstanding balance as being {$11000.00}.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: WA
Zip: 983XX
Submitted Via: Web
Date Sent: 2021-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A