Date Received: 2021-02-16
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: RE : ShellPoint Mortgage Servicing Account : XXXX I paid off my mortgage in full on XX/XX/XXXX. On XX/XX/XXXX, I received s Discharge of Mortgage notice and release of Lien. On XX/XX/XXXX, my credit report did not reflect the updated balance. I contacted Shellpoint and was advised that they needed 45 days. On XX/XX/XXXX, both XXXX and XXXX still show my mortgage as open and owing {$50000.00}. I filed a credit dispute and on XX/XX/XXXX, XXXX fraudulently advised the credit bureaus that I still owed {$50000.00}. Today, XX/XX/XXXX, I contacted Shellpoint and they confirmed the {$0.00} paid in full balance, but would not assist me with the credit reporting dispute. Please accept this notice that I wish to file a formal complaint against Shellpoint Mortgage Services for failure to comply with the fair Credit reporting Act. Thank you. XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 08003
Submitted Via: Web
Date Sent: 2021-02-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: RE : Shellpoint Mortgage Servicing / New Rez PO Box XXXX XXXX, OH XXXX Mortgage # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, NY XXXX Shellpoint purchased our mortgage from our old mortgage holder ( DiTech ) in XXXX. We have never been late with a payment in any month of the ten years we have had a mortgage on this property. Shellpoint is the third mortgage company to purchase our paper. In XXXX of XXXX we received an email offer from them of forbearance due to the Covid virus. I contacted them by phone for details and they said that it would not affect our credit rating and that the skipped payments could be added on to the back of the mortgage when we opted out of the forbearance. As our restaurant was undergoing economic distress we accepted their offer for the three month period of XXXX, XXXX and XXXX, XXXX. During this time we did not pay the principal or interest under the terms of the forbearance but we did continue to pay the escrow accounts for insurance, school and general taxes which were a part of our monthly statement. At the end of the three months we informed Shellpoint that beginning XX/XX/XXXX we would no longer need the forbearance and we would begin making full regular monthly payments again. In XXXX we were approached by another lender with an offer of re-financing at 2.2 % ( our current rate was 4.375 % ) and after checking our payment background we were told that that we were showing as being in arrears at Shellpoint with " over 30 days late '' payments on our file. As such neither they or any other lender would proceed with a re-fi. We contracted Shellpoint/New Rez and were informed that we were in arrears and would remain so until we repaid the forbearance in full. This was the opposite what they told us when we discussed repayment terms in XXXX. During the months between XXXX and XXXX communication with Shellpoint was very difficult, with calls and emails being largely ignored or answered by agents who " were not our primary point of contact '' and who often quoted contradictory information. We often received e-mails threatening foreclosure which their personnel assured us was just a formality. During discussions with these various agents I discovered that the escrow amounts that I had paid during the three month period were not being applied to escrow but were just being put into a miscellaneous account and not applied to anything. They are probably still unapplied or unaccounted for. In XXXX they offered us a " loan modification '' which would reduce our interest rate to 3.3 % and/or an in house refinance rate of 3 % both of which were significantly higher than the open market refi rates, but since other lenders were still seeing reports of " 30 days late payments '' on our records, we had no choice but to apply with them. I worked with both departments ( modification via Mr. XXXX XXXX, and re-fi via Mr. XXXX XXXX ) and was initially told that the re-fi could be closed by XXXX and the modification could be done in XXXX. We would therefor have a choice of either option as both, we were assured, were going to be easily approved in light of the misunderstanding of the status of our account. We received a letter indicating that the modification was approved and in subsequent phone calls I was informed that it could be accomplished by XXXX. I completed and submitted all required forms and notarized statements to Shellpoint and they confirmed receipt of these documents via phone. We also completed and submitted all necessary documents for a re-fi with New Rez. I requested that we proceed with the modification since I had no confidence that they would in fact accept the re-fi as they said they would. In XXXX I received a letter stating that the re-fi had been denied due to unspecified poor credit report reasons. Note that our credit rating has always been in the high XXXX and the only negative report anyone was aware of was the one that Shellpoint had issued. I inquired regarding the modification and was told that it would take effect in late XXXX or early XXXX. In late XXXX I called and was told that rather than proceed with either, they had decided to sell our mortgage to another, unspecified, broker and that I would have to take up the issue with the new company in XXXX. As of XX/XX/XXXX, there has been no indication that our mortgage was sold and I have no idea whether they have cleared our file of any delinquent comments which would affect our ability to obtain refinancing elsewhere. I have been a homeowner and investment property for over 40 years and have dealt with dozens of banks and mortgage companies and have never been treated in such an unprofessional manner. In effect, Shellpoint/New Rez has used the Covid forbearance as an excuse to freeze my account at a higher than market average interest rate and prevent me from refinancing or modifying my load and the process has had negative effect on my borrower credit status. Attached are copies of documents outlining the sequence of events to date.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 13820
Submitted Via: Web
Date Sent: 2021-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage was recently sold to NewRez LLC, XXXX. XXXX XXXX, XXXX, SC XXXX, Main Office NMLS ID # XXXX. My monthly payment requirement was {$850.00}. I chose to pay extra on the mortgage, for a total payment of {$860.00}. The extra {$9.00} should have been credited as an extra principal payment. When NewRez started servicing my mortgage in XXXX 2020, instead of crediting the extra {$9.00} as extra principal, they decided steal the money from me by inventing a legal charge that I do not owe. They took the {$9.00} from me for 5 months before I realized the problem. I have to think that they are probably stealing from other customers also, hoping that they won't notice, as I didn't.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: FL
Zip: 33756
Submitted Via: Web
Date Sent: 2021-02-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-14
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: RewRez loan the balance on my loan is {$150000.00} but in my credit report it has been reported that the balance is {$150000.00} i have been writing to the this mortgage companying to correct, so that my credit will come up but they have refused. just to keep my credit low. And they have also reported that i am on forbearance which i am not and for about 8 months i have been writing them to correct that. more than 5 mortgage company have refused my refinance process because of this. my credit has gone down because of this. This is not a mistake it is a deliberate act to make it impossible to get a loan approval for refinancing.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: MD
Zip: 21208
Submitted Via: Web
Date Sent: 2021-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX we refinanced our mortgage. The account was immediately sold to NewRez/Shellpoint. We always set our payments on auto, and we asked to enroll in biweekly payments. The biweekly payments forms were submitted and the payments began deducting from our checking account. We were not paying close attention to our checking account ( our one contribution to this situation ) but we had the impression that more payments were being made than usual ( because we were on biweekly. ) In XX/XX/XXXX, however, we discovered that NewRez had been deducting our biweekly payments, and each time there was a second checking account debit with a name we didnt recognize. At first we thought it was the name of a loan officer or something like that, but when we logged onto the NewRez website, we discovered that they had been paying another customers bi-weekly mortgage payments from our checking account ( in addition to our payments. ) We called NewRez on XX/XX/XXXX and they expressed shock, apologized profusely, and asked for documentation. That same day we uploaded to them redacted copies of our XXXX through XXXX checking statements, clearly showing over {$11000.00} in charges marked with the name of another customer. They promised to process a refund immediately. Instead, they processed another payment for the other customer the next day. We heard nothing ( except an auto-generated thank you from the document upload page ) so we called them again on XX/XX/XXXX. The agent appeared to have no idea about their huge error and we had to start over at the top to explain it. Once again, we were given sincere apologies, and a promise that the funds would be returned immediately. Instead, they processed yet another payment for the other customers mortgage on XXXX XXXX. By now, they had taken a total of {$12000.00} from our checking account for another customers mortgage. We contacted XXXX XXXX and initiated a claim for fraud. They placed a stop payment order on the checking account that was supposedly limited to stopping payments with the other customers name on them ( so our payments would remain timely. ) On XXXX XXXX, apparently XXXX XXXX rejected our mortgage payment, even though they were told to only reject debits bearing the other customers name. We got a letter from NewRez collections department, telling us that the second XXXX biweekly payment was late and we needed to correct this by XXXX XXXX, which they wrote that we could do by using their automated systems. We tried their website. We tried their phone system. None of their system allow one to make a biweekly ( half the normal amount due ) payment. We eventually reached one of their agents on XXXX XXXX, and we told him that it was important that he note that our payment was made during XXXX. In other words, we made our required two payments in XXXX in the correct amounts. NewRez, however, did not apply the biweekly payments we had made in XXXX. Despite the fact that their actions had necessitated us placing the stop payment, and despite their having stolen over {$12000.00} from us, and despite our having made the payment within the deadline their letter requested, NewRez marked the XXXX XXXX biweekly as an NSF, and charged us a {$25.00} late fee. Because the total of our two biweekly payments did not include an extra {$25.00}, they would not mark ( and still have not marked ) the XXXX payments as having been timely made. We had to ask for our case to be escalated at NewRez/Shellpoint, from an agent, to a supervisor, to a manager. Each individual expressed dismay about our terrible situation. Each of them promised to take action and gave specific dates on which they would have the problem fixed. Each of them failed to deliver on their promises. Each and every one of them failed to even contact us back by the dates they said they would do so. On XX/XX/XXXX, NewRez/Shellpoint processed a reverse EFT in the amount of {$12000.00}. I questioned that amount, but they insisted that it was properly calculated, and I assumed that it included interested, because they had been holding our money since XX/XX/XXXX. Because of all the above, we sought to leave this company. Our mortgage broker ( XXXX XXXX ) was shocked at our situation, especially after the owner of XXXX could not get an answer out of anyone at NewRez/Shellpoint ( despite the fact that his company had sent them a lot of business. ) We started a refi application with XXXX, and I went online and got a Formal Payoff Statement for XX/XX/XXXX, the date on which we would close the refi. That statement, however, was inaccurate. XXXX contacted NewRez to ask why they had not applied the payments that they had taken from our checking account on XXXX XXXX and XXXX XXXX, and they were given confusing answers that alleged that we were somehow over-refunded ( even though this was the first we had heard of it. ) NewRez also insisted that our XXXX mortgage payment was delinquent. XXXX pointed out that the records show that they received the XXXX payments, but NewRez/Shellpoint still has not provided an accurate payoff, and may have reported a delinquency on our credit. We have had to postpone our refi closing.
Company Response: Company believes complaint is the result of an isolated error
State: AZ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-02-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: i was in forbearance due to covid issues and i requested a loan modification so that i could make payments but i got a default letter from them and i can never get to talk to anyone i always get a recording which no one ever calls me back
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NV
Zip: 89014
Submitted Via: Web
Date Sent: 2021-02-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: The home was listed with a realtor on XX/XX/XXXX. The mortgage company was made aware of the listing and it was turn-key ready to go. There was an offer by XX/XX/XXXX, but the mortgage took longer than the 30-day purchase agreement to reply, answer the realtor about the sale. The buyer backed out of the sale. Then Covid slowed all possible buyers and things slowed way down. Second buyer XXXX XX/XX/XXXX, short sale process, it honestly took until late XXXX to get a sale closing date of XX/XX/XXXX. I was so ready to be done, I wasn't going to walk away with a pocket of money but I would have just walked away. I stopped making payments in XXXX of XXXX the mortgage company was fine with that as long as the plan was to sell the property. I have been living with my daughter and her family since XX/XX/XXXX and sole property caretaker of the " listed home '', tending the lawns, shoveling and general upkeep of the home and utilities being paid on time, and checking every day as this home is in MN. As I write this it's -4 with a feels like even colder. So, I'm worried about the water pipes and the furnace failing. Then, something else happened just before the closing date, the buyers lost their jobs and financing. NO sale happened. The realtor had stopped showings and restarted again square one. She honestly has worked super hard on this sale and tried multiple things and every time the mortgage company withholds information that is needed to make the sale. Then, on XX/XX/XXXX, she sent me a document stating that the buyer backed out of the sale entirely because they can not secure financing because they haven't been able to secure a job anywhere because of Covid-19. The same day the mortgage notified me that the home is being foreclosed on because of nonpayment. Is there anything that I can do? I'm XXXX and I'm not ever going to be able to fix my credit to be able to buy another smaller home for myself to retire in. I've spent 25 years of my life trying to keep my home beautiful and kept. To lose it like me is devasting to me. I've been helping my daughter with the bills and trying to keep this house kept. Do you have any help for me? Please help me to save my credit and dignity.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: MN
Zip: 562XX
Submitted Via: Web
Date Sent: 2021-02-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-12
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Shellpoint Mortgage Servicing has listed on my credit reports that I am 120day delinquent on my account. This is not accurate. Effective XX/XX/2020, my former Mortgage company, Ditech sold my account to Shellpoint. At that time I was in a mortgage modification program and payments were being made as agreed to. The modification plan continued until XX/XX/2020 with Shellpoint and all payments were paid as agreed. I successfully completed the modification program and was issued a new payment plan effective XX/XX/2020. All payments have been current to this date. As of today, the account is listed as 120days delinquent on all credit reports. I have tried unsuccessfully to get this item corrected by filing a dispute resolution request with all three credit bureaus and attempting to speak with Shellpoint. I have not been provided with reason ( s ) why this delinquent item is remaining on my credit file from Shellpoint.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: TN
Zip: 38135
Submitted Via: Web
Date Sent: 2021-02-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-12
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I purchased my home in XXXX of XXXX. NewRez took over my loan from my original mortgage company in early XXXX. Loan # XXXX. My property taxes are approx {$13000.00} per year. In XXXX of XXXX New Rez raised my payment amount from {$2400.00} to over {$3600.00} per month. After multiple calls and inquiries they explained that my taxes were increased by this amount. I spoke with my township and they assured me that they did not increase. NewRez is misreading my bill. They saw an adjusted bill for the portion of XXXX when I lived there and added it to my total bill. I pay my bills electronically and set up all payments well in advance. My payments were short before I noticed this in XXXX of this year. NewRez has refused to contact my township and will not refund penalties and late charges. In addition, I have asked them in writing to cease all escrows and allow me to pay my taxes separately. They so far have refused to do so. In addition to the unfair charges ( {$250.00} ) this has negatively affected my credit rating. XXXX XXXX
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-02-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-02-12
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Good Evening, I am having a major issue once again with Shellpoint Mortgage Lending located in XXXX, SC. This is my second complaint through this Bureau. In XXXX of XXXX Shellpoint reported my payment as late. After a lengthy dispute the late payment was overturned, and that XXXX a certified letter was issued to me by Shellpoint removing the late payment from my Credit. It was also supposedly reported to all Credit Bureaus. I had to file and additional dispute in XXXX of XXXX, because the late payment was never updated with XXXX. This issue was resolved after filing a complaint with Consumer Finance. After all of that, the property in question was sold and the Loan was paid in full on XXXX of XXXX. Im currently in the process of building a new home, which is set to close on XX/XX/XXXX of XXXX. In XXXX of XXXX I had to file a dispute with XXXX, because Shellpoint had not updated my Mortgage or Payoff Since XXXX of XXXX. This issue was resolved at the beginning of XX/XX/XXXX, which leads to the problem at hand. On XX/XX/XXXX Shellpoint updated my payoff information with XXXX. They also added the late payment from XXXX of XXXX that had already been removed. I have taken a major hit to my Credit before the completion of my new construction home prior to closing. I may lose my Home do to the incompetence, poor costumer service and illegal activity of Shellpoint Mortgage Servicing! You cant even escalate your call past an hourly customer service representative. I have never experienced this type of disregard for a person in my entire life. If my Family loses our New Home do to Shellpoint Mortgage Servicing. I will definitely sue them to fullest extent.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 23112
Submitted Via: Web
Date Sent: 2021-02-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A