Date Received: 2021-03-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX, my rental home mortgage was transferred to NewRez LLC. Starting in XX/XX/XXXX, NewRez stopped apply my extra principal payment to principal but applied the amount to the next payment. The call history with NewRez is as follows : - XX/XX/XXXX - Spoke with XXXX who corrected principal payment, future issues would be fixed and recommended one check be provided and not a separate principal amount. - XX/XX/XXXX - Spoke with " XXXX & XXXX to again resolve principal payment as it was applied to next payment amount and not to principal. - XX/XX/XXXX - Spoke with XXXX XXXX who again fixed principal amount and made note in their system to ensure extra amount be made to principal - XX/XX/XXXX - Spoke with XXXX to fix XXXX payment and apply principal amount to loan and NOT next payment. - XX/XX/XXXX - Spoke with XXXX to resolve XXXX principal amount being applied to next mortgage payment. As seen in the attached and according to NewRez policy, " excess funds paid will be posted to principal balance. '' I am extremely frustrated with NewRez continuing to apply my extra principal payment to the next mortgage payment and feel as if they are trying to take advantage of me for extra interest. The above is completely documented in the attached.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: VA
Zip: 23693
Submitted Via: Web
Date Sent: 2021-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-24
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: On XX/XX/2021 I refinanced my current mortgage with New Rez. After the closing, a few weeks later the title company sent a check in the amount of XXXX to both XXXX ( my home owners insurance company ) and Illinois Dept. of Insurance ( I have no idea who these people are ). So IL Dept. of Insurance forwarded the check to XXXX because they had no idea what is was or who it was from. And the amount was incorrect. My actual home owners premium is XXXX. I reached out to New Rez since they told me I had to use this title company and explained the issue. They told me it wasn't there problem and I had to call the title company to resolve the issue. Well, I tried that multiple times and the title company does not answer calls or return my messages. I then called New Rez back and ask them why am I calling, they were the ones who chose the title company. No response since. I need answers! This I my money they are throwing around and now its just sitting with XXXX waiting for direction.
Company Response:
State: IL
Zip: 60538
Submitted Via: Web
Date Sent: 2021-03-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have a mortgage on a home with Shellpoint Mortgage Servicing that was placed in COVID forbearance XX/XX/XXXX. The forbearance term was extended XX/XX/XXXX. Since the extension, I have been charged 4 late fees. Under my forbearance agreement, no late fees are to be assessed. Shellpoint Mortgage Servicing is refusing to refund the late fees and not agreeing to extend my forbearance even though I have brought payments up to just 2 months behind. I wish to have late fees refunded and forbearance extended.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 28173
Submitted Via: Web
Date Sent: 2021-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-24
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I applier for a mortgage refinance with the current mortgage processor ( NewRez ) in XXXX 2020. I was initially given a timeline to close on the refinance not probably by end of XXXX, but by end of XXXX the latest. I have been providing all the requested documentation promptly ( typically the day of or the following day. I was told they were trying to save me money by consolidating the new with the old loan which would save about $ XXXX from the overall closing cost. The delay, however, is costing me {$1000.00} every month ( a combination of the PMI I am currently paying, and the lower interest rate for the new loan. After my last discussion with the loan officer ( XXXX ), I was asked to provide latest XXXX and pay stub, which I did the same day. The loan processor called on XX/XX/XXXX, I returned the call and left a couple of voice-mails. I did not hear back for two weeks, when I tried reaching either of them, unsuccessfully. They called back only when I called the customer service line and told them I am considering of filing a complaint because of the big delay and information not provided on the process along the way. I was told my credit had expired and they needed to run another credit check, to which I declined until some assurance was provided that this would not be a hard inquiry posted again on my credit report 5 months after the application. I was told the loan processor would discuss with their manager and get back to me the following day, and yet not a word. As I had mentioned, the delay has costed me at least {$2000.00}, and it will keep accumulating at the rate of {$1000.00} per month. If they are delaying the process for all their customers, I can only imagine the amount of money they are making by every month of delaying the process. I just tried reaching the loan processor, but my call gets connected to the voicemail directly ; no email, no returned calls, even from their respective managers or anyone higher up on the organization to provide clarification.
Company Response:
State: NY
Zip: 115XX
Submitted Via: Web
Date Sent: 2021-03-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-23
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I am filing grievance against New Rez, https : //www.newrez.com/ I have been a victim of discrimination by my mortgage company, New Rez while applying for refinancing my home. I was denied the lower interest refinancing option even though I already have a mortgage with them at a higher interest rate. They delayed the process of closing after locking in the rate and offering a conditional approval 3 months ago. After completing the appraisal of the home and home owners insurance clearance, survey of my home by underwriting, New Rez denied me the loan. They were advice of my earning potential and temporary loss of income due to temporary XXXX. My loan was handled by multiple loan officers and underwriter and mistakes were made by New Rez in the application process. I was later wrongfully denied the loan and discriminated against and victimized by New Rez. Now I am caught between a rock and a hard place as I still have the mortgage with New Rez at a higher interest rate and was denied refinancing with them at a lower interest rate. I am seeking justice and requesting them to close the loan by XX/XX/2021 before the locking rate of 2.25 expires. They have denied my the loan.
Company Response:
State: NJ
Zip: 085XX
Submitted Via: Web
Date Sent: 2021-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-24
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: The loan process was delayed and the processor lied saying they were on top of things. I have emails of them saying something was going to happen but did not on multiple occasions. We received a 30 late on a 2nd mortgage that should have been paid off in a timely manner. I called them to ask to investigate about 2months ago and they said I would have an answer in 3 weeks. Never heard back from them on this matter. This seems to be an ongoing problem and I still have bad credit due to their lack of follow up.
Company Response:
State: WA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-03-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I'm writing about NEWREZ MORTGAGE COMPANY and their continued lack of satisfactory service on my account. They purchased my loan from XXXX, which was my preferred provider and I've been lied to and treated horribly since. I've paid my mortgage on time EVERY MONTH with no missed payments and have inquired about PMI in RESPONSE to a letter they sent me regarding the matter, for them to tell me that my FHA loan as a LIFETIME surcharge attached to it, and that it is NOT PMI, which is incorrect. I PAY PMI EVERY MONTH ON THIS LOAN. PMI drops after one has XXXX percent equity in their home. I contacted them over ayear ago about this via phone at which time their agent told me this, which I already knew. I was then just under the XXXX percent requirement. My home qualifies for the PMI release. They even sent me a letter telling me to call them to get it dropped. When I sent them an email via their web submission, I got the usual run around from them via email that my FHA loan has NO PMI but I have the surcharge FOR LIFE. I have never in my life heard this, and this is NOT what I signed. Further, they charge me a MONTHLY PMI on my mortgage statement EVERY MONTH, yet they tell me I have some other arrangement. This fraudulent company has a SLEW of complaints all over the internet about fraudulent practices to the point where I don't understand how it is they are still in business. I would have never authorized this company servicing my loan and it's completely unfair they buy my loan and I am subject to FRAUD and LIES. You'd think in this climate, a mortage servicing company would give preferrential treatment to those customers not taking advantage of the current moritoriums, paying their mortgage on time, but this isn't what you get for being a good customer at all.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Shellpoint keeps ignoring my request for mortgage assistance they continue to put on a covid forbearance plan and not helping me retain my home. I am asking for a loan modification review. I have submitted the loan modification packet over 3 times now and they continue to ignore my request. On XX/XX/XXXX was the first one sent and then on XX/XX/XXXX resent and today I have sent it again after they have wasted over 30 days of just leaving my documents without a review. My XXXX XXXX XXXX calls every 6 days but they continue to advise the same thing. There is no modification review and that they never got the documents.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AZ
Zip: 85379
Submitted Via: Web
Date Sent: 2021-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have Home equity loan ( fixed ) Shellpoint Mortgage Serving. It clearly states on the letter datedXX/XX/2021.That I am on a Forbearance plan. Loss income due to COVID-19. I Only have Social Security and Unemployment ( that may end soon ) They will not extend the Forbearance because I have Income. I stated I am not working and Social Security in NOT working income Income being my Social Security and Unemployment ( which may end soon ) I ask to defer my past 13 payments. They said I would need to pay off 10 payments and they will defer the 3 months. ( I do not have that kind of money ) The rep stated that the investor rules would not allowed deferment because of my Lates ( I said under the CARES act you can not count miss payments as Late ) I ask to speak to a supervisor and she said it be 24 -48 hours
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94403
Submitted Via: Web
Date Sent: 2021-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-23
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: We were recently granted a modification to our home loan with Shellpoint Mortgage Servicing.. The trial period for the modification was completed. Per the terms of the modification any previously reported late payments were to be erased and removed from our file. However the late payments are still showing up after repeated requests for them to honor their side of the modification terms. This is creating a negative impact on my credit rating.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91302
Submitted Via: Web
Date Sent: 2021-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A