Date Received: 2021-03-22
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: My wife and I applied to refinance our home and a rental home. We decided to use New Rez because they already had the primary mortgage. They promised us a rate on the primary home and then came back after everything was signed and locked in and said they made a mistake and added points that we had to pay for to get the rate that we had contracted previously without any points. Even more frustrating, this process started mid XX/XX/XXXX. They call us occasionally and ask for requirements - which we send immediately. Today they called and asked us for some things that we gave them 22 days ago. They have asked us for unbelievable requests like having {$8800.00} in checking at the end of the previous months, show hundreds of thousands in savings/retirement, which we did, again immediately. They had us pay for an appraisal AND they have us locked in at a rate that I probably cant get anymore or I would certainly go elsewhere. Now it is XX/XX/XXXX and we cant get any answers as to where we are in this process. I cant believe it is legal to string us along for 4 months. I am in the financial industry and I have never seen a business operate like this. If its not illegal it is certainly unethical. BEWARE.
Company Response:
State: VA
Zip: 236XX
Submitted Via: Web
Date Sent: 2021-03-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX, my mortgage was transferred from XXXX XXXX which is owned by Shellpoint mortgage to NewRez, which is also held by Shellpoint mortgage. I never received the letter stating I would have a new mortgage servicer prior to service change but I did receive the letter from NewRez that they were taking over. In XX/XX/XXXX, I typically receive my new escrow analysis. I had received an email with a link to review my escrow analysis, but it was not correct. It stated my taxes, which are paid within my mortgage payment were {$330.00} short from the previous year. This was inaccurate as I received my tax statement from the county stating that instead of my taxes being {$4600.00} it went down to {$4300.00} which was technically an overage of {$280.00}. I provided the documentation to which XXXX XXXX was supposed to make the update to my escrow statement. This was XX/XX/XXXX. On XX/XX/XXXX, I was notified that my payment increased from {$1200.00} to {$1300.00}. I contacted a representative which stated my payment was short. I asked to speak to a supervisor and got XXXX XXXX on the line. He told me my escrow was short as my XXXX escrow was short and I was catching up from that. This is an incorrect statement. We all know we pay shortages either all at once or spread over months preceding the shortage ... which I did. I sent all supporting documentation to XXXX and can not get a return phone call. I have called the customer service line also trying to reach him or his manager and I am told he isn't available or the managers are in a meeting. Dates of continued calls are- XX/XX/XXXX, XXXX XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. I sent an email on XX/XX/XXXX with a summary and attachments supporting my position and another email on XX/XX/XXXX asking for a call back or his manager. Here is the email to XXXX XXXX : XXXX, During our conversation this morning, you had indicated that while my mortgage was at XXXX XXXX in XXXX, that I had an escrow shortage in the amount of {$450.00} and provided to me the letter I would have been sent by XXXX XXXX. After reviewing that document, it also stated that my mortgage payment would have an increase of {$38.00} per month for 12 months bringing my payment to {$1200.00} from XX/XX/XXXX to XX/XX/XXXX to satisfy the shortage. You also indicated that I did not satisfy the shortage and that the servicing transfer from XXXX reflected the shortage. I stated that I would have had to pay that shortage through my monthly payment and that no mortgage company would have not increased the payment to get the shortage paid in full, should the borrow choose not to pay the in full amount and allowed a shortage for 3 years without being satisfied. Attached, please find the notice you provided from XXXX of the shortage along with each monthly payment I made, in subsequent pages following in the amount of {$1200.00} each month ; therefore satisfying that shortage. Additionally, I was able to log into my account and pull the last 3 mortgage statements from NewRez in XXXX along with XX/XX/XXXX statement. The XX/XX/XXXX statement showed a current escrow balance in the amount of {$2700.00} also knowing the amount of the first half tax payment you advised in the amount of {$2100.00}, which would have left a surplus in the amount of {$600.00}. I would still like additional documentation which shows I have a shortage of my escrow in the amount of {$330.00} and why the shortage. I have attached the letter received by the compliance department depicting the incorrect tax amount and therefore ; the document is incorrect as is the shortage. If in XXXX through XX/XX/XXXX and XXXX XXXX, my payment was {$1200.00} with my escrow of {$370.00} per month and that was sufficient to cover the years taxes of {$4600.00}, then with the new tax amount being {$4300.00} an overage of {$280.00} then the amount should also be sufficient to cover that tax amount. This is what I need from you : * Statements from XXXX XXXX from the time XXXX XXXX sold the mortgage to them to XX/XX/XXXX. XX/XX/XXXX through XX/XX/XXXX, showing a continued shortage. * Process to remove my escrow, get additional funds from NewRez/Shellpoint which are held in escrow and escrow cushion mailed to me and I will pay my own taxes. * XXXX and XXXX statements of where the funds I pay goes. What goes to interest, what goes to taxes and what goes to principal. It should show {$1200.00} transferred from XXXX and your document should show amount received. Of that {$1200.00}, what is escrow because my year end statement from NewRez doesn't show having received those funds. If XXXX was transferred in XXXX and there were 5 additional escrow payments prior to disbursement for taxes ; XXXX, XXXX, XXXX, XXXX, XXXX and XX/XX/XXXX, there would have been a total of {$2700.00} with a payment of taxes in the amount of {$2100.00} and an overage or surplus of {$600.00}. Now that your statement of the reason my escrow is short is because of my XXXX shortage wasn't handled with XXXX and they transferred to NewRez with a shortage is no longer viable, who can I speak with to discuss further these errors? Email a response that you have received this email and 3 attachments. Call me so we may review further.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: CO
Zip: 80022
Submitted Via: Web
Date Sent: 2021-03-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage was sold to NewRez otherwise known as Shellpoint Partners LLC last year. Since the sale, I scheduled direct deposits from my checking account. I live in a cooperative apartment located in a flood zone. My building is required to obtain hazard insurance. I continue to get threatening letters from NewRez ( a partner & my mortgage company with Shellpoint ) that I need hazard insurance. I have lived at my home for 18 years & never paid my mortgage late. When I get these letters, I am worried about losing my home. I make an extra payment in fear that I will have my credit rating ruined. I have received letters on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX & in XXXX. These letters state that they plan to buy hazard insurance. After receiving the last letter, I erroneously paid my mortgage payment plus {$700.00} over the scheduled payment on XX/XX/XXXX. When I realized that I had auto payment setup, I called immediately & spoke with XXXX XXXX ( customer service representative ). She assured me that they would not make the withdrawal. She then gave me the number to the insurance department. After I could not reach the insurance company for NewRez, I sent my insurance document via their website to the organization for a 2nd time. Only after taking my regular payment for {$1500.00} on its due date, Monday, XXXX, did NewRez withdraw a 2nd amount on Tuesday XXXX for {$2200.00}. I immediately called & spoke with a representative. The representative stated that they would issue a refund. They did not mention that they chose to send a check, which I have still not received yet. On Wednesday, I called again & asked to speak with a manager. The manager told me that the refund was not an ACH transfer but a paper check. I insisted that this was unacceptable & was told that the check would be stopped and an ACH would be issued. Again, on Wednesday, XXXX, I spoke with the Supervisor XXXX. She stated that the funds would be in my account on XXXX. She also noted, after I complained, that there were overdraft fees on my banking account. I have {$2000.00} line of credit for overdraft fees yet, I still owe money to XXXX previously known as XXXX XXXX XXXX XXXX XXXX. Any monies received to my account, has now been designated to overdraft fees & insufficient funds. I called again on Thursday, XXXX & spoke with another supervisor that stated that the policy was on file. This is after XXXX had already told me that they have no access to my policy because insurance is a separate department. The second supervisor assured me that it might take until the end of the day, but she would expedite the return. I asked her to call me back when the transaction transpired & was told that they have no way to call back. Again, I called on Friday, XX/XX/XXXX, asking to speak with a supervisor & spoke with XXXX. He told me that there is nothing more that can be done other than an expedited return & stated that he was a lead supervisor. I had to demand that I needed to speak with his supervisor prior to him giving me access to his supervisor XXXX XXXX. XXXX was very polite & told me that he understood my concerns. He also stated that I would not need to speak with another supervisor after our conversation & that he would see to it that the funds were distributed. He also agreed to call me back even though I had been told that they are unable to call anyone back. Please help. Every bill collector that tries to withdraw from my account before XX/XX/XXXX, will cost me a {$30.00} insufficient fund fee & my credit is being destroyed as my credit card payment was already rejected. I can not find the XXXX notice because I must have left it at work. I need relief.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-03-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-21
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I submitted my mortgage application for refinancing in XX/XX/2020. 7 times contacted with mortgage broker, 3 times with NEWREZ customer service. No calls back or responses. Now, after 3 months of time waste interest rates went up. I suspect fraud or neglect and want to be compensated for my time and horrible customer service/ unprofessionalism/ customer neglect and money loss. Broker information : NEWREZ XXXX XXXX XXXX XXXX NMLS # XXXX Phone number XXXX
Company Response:
State: CA
Zip: 939XX
Submitted Via: Web
Date Sent: 2021-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-20
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: XX/XX/XXXX through XX/XX/XXXX I requested NewRez LLC d/b/a Shellpoint Mortgage Servicing closed the fraud account and remove their negative information from my credit report. In XXXX and XXXX I filed complaint with CFPB about the fraud account, NewRez LLC d/b/a Shellpoint Mortgage Servicing send me Note and Mortgage for the fraud account. I mail the identity theft affidavit, my id they did not closed account. On XX/XX/XXXX I requested all records relating to the fraudulent ( Loan Number XXXX f/k/a XXXX, original account # XXXX with FHA Case # XXXX for Original Owner : XXXX XXXX XXXX XXXX for {$160000.00} for property XXXX XXXX XXXX and/or XXXX XXXX XXXX XXXX NY XXXX ), including : Application records, Uniform Residential Loan Application with HUD/VA Addendum, Settlement Statement, HUD1 and Addendum to HUD-1 Settlement statement, Escrow Account Acknowledgment, Loan Agreement, FHA Case Details, Direct Endorsement Approval a HUD/FHA- Insured Mortgage, Insurance Application for FHA Case, Loan Funding Request Form , Mortgagors Letter of Completion , Post Endorsement Technical , Review Underwriting Report, Final Release Notice, Accounting for funds, Loan information type of loan, property address, Final Release Notice, Payment ledgers, CHUMS/Closeout Screen, XXXX XXXX XXXXXXXX XXXX Mortgagors Letter of Completion , and/or screen prints of internet/phone applications Statements/invoices Payment/charge slips Investigators summary Delivery addresses All records of phone numbers used to activate or access the account XXXX Any other documents associated with the account Please send these records to me at the above address. Shellpoint sent me a letter dated XX/XX/XXXX Due to complex nature of the matter they request more time. As of today I did not received what I requested and the fraud account is still open and they continue to report to the credit companies I'm in default for the fraud account.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NY
Zip: 11212
Submitted Via: Web
Date Sent: 2021-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This started in XXXX on the XXXX when we switched our mortgage over to a biweekly payment. The NewRez system does not allow principal only payments via their website or automated telephone service so I am forced to speak with a person each time. Problem is they have limited hours and are now closed on weekends ( due to Covid ). So, on XX/XX/XXXX I called them to make a principal only payment of {$3000.00}. The first person I spoke with hung up on me. So did the second. The third attempted to make the payment but stated she was unable to due to a biweekly payment already being processed so I would have to wait until XXXX. I do not find this acceptable since I feel I have the right to make a payment whenever I choose, per the contract terms. I gave in and they were supposed to apply my {$3000.00} principal payment that Monday. Monday came and went, as did the entire week. I looked at my account with NewRez on XX/XX/XXXX and saw that they tried to make the principal only payment three times but were unable so they charged me a {$15.00} NSF. I called this morning, XX/XX/XXXX. Again, two people hung up on me. I then asked for a supervisor who also hung up on me and made no attempt to call me back. I finally reached a supervisor after hours spent on the phone who was willing to help. She listened to the phone recordings and determined the customer service agent was in error so she reversed my NSF fee. She also stated she would process my now {$3100.00} principal payment ( to differentiate from the other {$3000.00} payment so that I can keep track of their errors XXXX. Except this time, instead of applying it all to principal she applied it as a regular payment ( escrow, interest, and principal ). Honestly, I have had it with this company. To top this all off, NewRez does NOT apply a biweekly payment to the mortgage until they receive two payments for the month. This means I am not collecting interest on my money they are holding onto for two weeks each time, but am still accruing interest on the mortgage which otherwise would be reduced the principal component of the biweekly payment. I believe this is illegal. Their customer service at best is incompetent, at worst, extremely RUDE. Never helpful since I have to waste hours yet AGAIN on this coming Monday explaining how they screwed up again. No person should have to endure such idiocy.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 98023
Submitted Via: Web
Date Sent: 2021-03-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-19
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Please see below a portion of our CFPB complaint submitted on XX/XX/XXXX regarding on going issues with our mortgage servicer Mortgage/Shellpoint. The portion below is in regards to our mortgage statements " There were several months from XXXX that showed that no payment amount was due without any explanation. We continued to make our payments each month. I spoke with XXXX XXXX in the bankruptcy department at NewRez on XX/XX/XXXX around XXXX XXXX. To discuss payment discrepancies, differing payment amounts and other issues on our payment statements. XXXX XXXX stated that when our mortgage was transferred from Ditech to NewRez, that there was an overage amount in the unapplied account-and that NewRez applied the overage amount as a monthly payment in XXXXXXXX XXXX and that put us one payment ahead. She told us to skip our monthly payment for XXXXXXXX XXXX and that we should resume our payments in XXXXXXXX XXXX I asked XXXX XXXX for complete escrow and mortgage records to confirm this and told her that we would not skip any payments. XXXX XXXX said that she would have a bankruptcy supervisor ( XXXX XXXX ) review the mortgage and contact us regarding our request for the mortgage records and to give us more information. We never received a call or any type of correspondence from XXXX XXXX or anyone at NewRez regarding this matter. We sent in a check for the XXXX 2020 payment, the check was mailed on XXXXXXXX XXXX XXXX. We noticed that the check had not been cashed and called NewRez on XXXX XXXXXXXX XXXX around XXXX XXXX and spoke with XXXX XXXX. During that XX/XX/XXXX phone call, XXXX stated that NewRez had not received the check. We also notified XXXX that we did not receive the phone call from XXXX XXXX that we were told we would receive during our XXXX XXXX XXXX phone call with XXXX XXXX. We confirmed with our bank that the check had not cleared. We put a stop payment on the check on XXXX XXXXXXXX XXXX as NewRez indicated that they still had not received it and we feared it was lost. We are suspicious of the lost check as XXXX XXXX tried to convince us not to send it and then we never received the phone call from her supervisor XXXX XXXX XXXX XXXX to give us a full explanation and proof that we were indeed a payment ahead as was being claimed. On XXXX we spoke with XXXX XXXX XXXX regarding the ongoing issues with our account. We were promised a phone call back but never received any correspondence from anyone at NewRez regarding the matters. On our NewRez statement dated XXXX there was NSF charge added. We were told on a phone call with NewRez that this was for the XXXX check that NewRez told us was lost but then mysteriously found and tried to cash. We explained to NewRez that this was a check they had told us not to pay but we had paid it out of an abundance of caution ( because we can not trust them as they are continuously give us misinformation and did not provide proof that we were indeed ahead a payment ). On XX/XX/XXXX we once again called NewRez to resolve issues on the payment statements, we were told we needed to talk to the bankruptcy department. We were told a request would be put to contact us and once again we never heard back from anyone at NewRez. We called NewRez again on XX/XX/XXXX at XXXXXXXX XXXX regarding the removal of the NSF charge. We were told that a request for removal of the NSF charge again would be put in again. The NSF charge was never removed after we were told it would be waived. We paid the NSF charge '' We received a response from Ms. XXXX of the NewRez Compliance Department In regards to the XXXX check we referenced above in our complaint, she stated- " They stated a payment was mailed on XX/XX/XXXX, and on XX/XX/XXXX, and noticed the payment had not been cashed. When they called NewRez they were advised to place a stop payment and reissue the payment, which they did on XX/XX/XXXX. They were suspicious if the payment was actually lost, as the XXXX payment is the month, they were previously advised they could skip during one of their conversations with a NewRez representative. Then on their monthly billing statement dated XX/XX/XXXX, there was a return item fee in the amount of {$25.00}. They reached out to NewRez and were advised the fee was related to the XX/XX/XXXX payment they had previously put a stop payment on. They requested the fee be waived, as the stop payment was completed at the direction of NewRez and were advised it would be waived. On XX/XX/XXXX, they again reached out to NewRez to discuss the ongoing payment issue and the return payment fee, and again were advised it would be removed. The fee was not removed, and the homeowner ended up paying the fee ''. This is not true, if NezRez will listen to the recording of our phone call on XX/XX/XXXX around XXXX XXXX where we with spoke with XXXX, they would learn that we were never told to put a stop payment nor were we told to reissue the check. We voluntarily put a stop on XX/XX/XXXX after waiting a period from the XXXX XXXX XXXX phone call during which NewRez confirmed with us that they did not receive it. We waited until XX/XX/XXXX to stop payment on the check, after again confirming with our bank that it had not been cashed. The claim that NewRez told us to stop payment and reissue a payment are not true and NewRez 's recording from XX/XX/XXXX will indicate such. We ask that NewRez answer these questions/request 1.Send us a transcript from your recorded call that we had with XXXX XXXX XXXX XX/XX/XXXX. 2. If NewRez had in fact told us to stop payment on the check, then would did they charge us a NSF fee? 3. As we listed in our complaint, we were told over a period of months on multiple phone calls that the fee would be waived. Why was the fee waived only after we filed a complaint with the CFPB? 4. Where was the check found in XXXX, two months after we were told NewRez had not received?
Company Response: Company believes the complaint is the result of a misunderstanding
State: NC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I sent my recent payment to NewRez on/about XX/XX/2021. Normal processing indicates that the payment should have been processed on/about XX/XX/2021.The payment appears to have been processed on/about XX/XX/2021. I did not identify the mailed payment by way of a certified mail or by way of registered letter. Therefore I can not speak specifically to delay in payment processing or to delay in U S Postal Service handling. I plan to submit future payments by way of certified mail. I shall file future complaints if NewRez is in fact slow in payment processing or if the U S Postal Service is untimely in its service pattern. I would like for CFPB to determine if the U S Postal Service is maintaining timely delivery to the NewRez address in XXXX, OH XXXX
Company Response: Company believes the complaint is the result of a misunderstanding
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Shellpoint Mortgage XXXX, SC XXXX XXXX Sent escrow analysis for year, incorrect because hazard insurance added twice while flood omitted XXXX Spoke with XXXX. I explained issue. She requested new escrow analysis XXXX Received video email with new escrow analysis. Still wrong. Called and spoke with XXXX XXXX at XXXX. She said to disregard video and said initial request had been ignored because nothing wrong with original statement! I explained what was wrong. She noted it and sent an expedited request so I'd receive corrected statement within 72 hours. XXXX. Spoke to XXXX at XXXX XXXX. He said it was too soon to " jump the gun '' and to wait a week for correction. XXXX Spoke with XXXX who transferred me to XXXX XXXX, who created a ticket for new corrected escrow analysis and to wait 7 days XXXX Spoke with XXXX XXXX at XXXX XXXX. XXXX I requested to speak to supervisor, XXXX XXXX XXXX XXXX? ). She expedited new analysis. Told her I wanted within 48 hours or I'd contact attorney general, and if I died from a stroke Shellpoint would be sued for wrongful death! XXXX XXXX XXXX approximately, I called once again because I had not heard anything. According to XXXX, the payment had been corrected, but a corrected statement had not been sent to me, so she requested one. Shellpoint made a serious error with MY money. MY escrow. I am a good customer who has always paid AHEAD, and they treated me terribly! My original loan with XXXX has been sold to Ditech and Greentree and now Shellpoint. Shellpoint has made numerous errors since taking over less than 2 years ago. I used to work in the Savings and Loan industry back before computers, when we had to balance everything by hand monthly. It has to balance to the penny and reported to the government, with annual outside auditing. I don't think anyone is monitoring financial institutions like they used to. SC should be embarrassed to call Shellpoint a SC entity! They should be audited with scrutiny and fined for any errors.
Company Response: Company believes complaint is the result of an isolated error
State: SC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XXXX I sold my home which was financed through the service Shellpoint. They charged me over {$8000.00} for a prepayment penalty. After reviewing the provisions of Dodd Frank, XXXX the maximum you can be charged for a prepayment penalty is 2 percent of the principal for a mortgage two years old which is the amount of my mortgage. However, this was a higher cost mortgage and I was not offered another product by the mortgage broker during the time the loan was offered to me. My understanding is that Dodd Frank states in those situations a prepayment penalty can not be charged. The principal of the loan was {$180000.00} at closing. I had to sign the closing document under duress because I was not provided time to contest this prepayment penaltynor I would have lost the sale. The company has given me the runaround and the mortgage broker has done the same thing.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 23321
Submitted Via: Web
Date Sent: 2021-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A