Date Received: 2023-12-06
Issue: Trouble during payment process
Subissue: Loan sold or transferred to another company
Consumer Complaint: My home mortgage account was transferred from XXXX XXXX to Shellpoint Mortgage in XX/XX/2022. I was under a forbearance with XXXX as I lost my job from XXXX and was in the process of a loan modification when I was told mortgage was transferred to Shellpoint. It took them 6 months December 2022-June 2023 to agree to a 6 month trial but I paid on time each month. They then sent me a new loan mod for {$800.00} more a month in addition to a XXXX PAYMENT of XXXX to be paid even if I were to refinance or sell the property prior to maturity. I have reached out to other mortgage brokers and lawyer and they said this is illegal and is predatory lending. They are charging me with a penalty of {$160000.00} on top of my mortgage. This is outrageous!!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 105XX
Submitted Via: Web
Date Sent: 2023-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-06
Issue: Trouble during payment process
Subissue: Fees charged
Consumer Complaint: We got behind in our mortgage payments due to being self-employed. I called the company in XXXX to try to resolve our past due debt. At that time, I was told that they refused to work with us on a payment plan and refused to modify our loan or grant us a forbearance. At this time, I was verbally told over the phone that my account was in foreclosure, but they failed to send me notification of the foreclosure. I asked to get a notice sent to me and they said that they don't send any notices of foreclosures to their customers. I called in the beginning of XXXX to ask again for disclosure. This time they informed me that the amount I owed was {$11000.00} ( in XXXX I was told I owed {$9900.00} ), and that the only payment that they could take was a bank transfer. On XX/XX/XXXX, I called again to verify the amount that I owed because we were able to get the funds necessary to get the account caught up. I was told that we now owe over $ XXXX. Once again, I was denied any notification how my account could increase that significantly in just over a week. I paid the amount required on XX/XX/XXXX through a bank wire and added additional money to the payment to go towards my next payment. I then called the company to verify that my payment was received. It was at this time that I found out that they held onto my payment for 3 days and didn't apply the funds to my account until after they applied additional fees to my account. Conveniently, the fees added up to take up my whole payment and didn't leave any money to be applied to my next payment. I was told to email them to get an explanation of the fees and they if they would negotiate the fees. They refused to negotiate and send me a disclosure the fees that they attached to my account. They kept my money and left me with no overage. This is theft!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OR
Zip: 973XX
Submitted Via: Web
Date Sent: 2023-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-06
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: My loan was assumed from XXXX XXXX XXXX by NewRez in December of 2022. I was on bi-weekly and had never missed a payment and was building great equity. NewRez states they we're unable to transfer my payment from XXXX XXXX XXXX. I lost autopay and fell behind, all while they made it my fault. They've also made the process to install bi-weekly payments incredibly difficult - my loan that I had agreed to was on a very easy, very simple to setup biweekly payment program. NewRez has been nothing but predatory and difficult to work with in the sole purpose of lining their pockets and making it difficult for consumers to save money on their loan - as I had been! To date - I am still not on bi-weekly or even a smooth auto-pay experience and I've had nothing but issues with on-time payments, hurting my credit score & reducing the equity in my home. I had a near perfect payment history prior to this!
Company Response:
State: FL
Zip: 337XX
Submitted Via: Web
Date Sent: 2023-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: Our guest house burned down XX/XX/XXXX. We received an insurance payout which went to the mortgage company to be placed in a restricted escrow account. We decided recently to pay our mortgage off instead of rebuilding our guesthouse. Our restricted escrow balance was {$110000.00}. I paid the additional amount back to them that was required to bring the mortgage to fully paid on XX/XX/XXXX. I got a letter from the company on XX/XX/XXXX stating that my mortgage balance had fallen down below the amount being held in restricted escrow. Yesterday, XXXX, a monthly mortgage payment was taken from my account and this is XXXX time. They took money from my account that was not theirs at XXXX. They said that it would take XXXX to XXXX days for them to give me my money back. I asked to speak with the supervisor, and they told me that they were too busy to speak with me.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AL
Zip: 359XX
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-06
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Newrez LLC seems to be running an insurance scam. They purchased my mortgage from another lender and began servicing it several months ago. About a month ago they sent me a letter claiming that I did not have insurance for the property and threatened to purchase insurance on my behalf. I do have insurance, I have always had insurance, and have at no point agreed to allow them to purchase insurance on my behalf. I uploaded proof of insurance to their website. I received a letter today indicating that they have purchased insurance on my behalf at a premium of {$2100.00}. My typical insurance premium is {$620.00}. My insurance company, XXXX XXXX, actually billed Newrez for my insurance, and Newrez paid the premium. So they absolutely know that I have insurance for this property, they literally paid the bill out of my escrow account. I believe they are affiliated with this other insurance company that they bought insurance from this other company ( they didn't even provide me with the name of the company ) and are intentionally ignoring the fact that they have paid my insurance bill with XXXX XXXX from my escrow account so that they can charge me three and half times the typical rate. I require assistance retrieving the funds that they have stolen from my escrow account. Thank you for your help.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91977
Submitted Via: Web
Date Sent: 2023-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-06
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: I am writing to request legal action against Shellpoint Mortgage Servicing for their unlawful and discriminatory practices regarding force-placed insurance. Force-placed insurance is a type of insurance that lenders can purchase on behalf of borrowers who fail to maintain adequate coverage on their property. However, I have proof that I have maintained sufficient insurance coverage on my property located at XXXX XXXX XXXX XXXX, XXXX, Florida, XXXX since XXXX Despite providing the required documentation for each insurance policy for my property, Shellpoint has repeatedly ignored my evidence and phone calls from my insurance agent, XXXX XXXX of The XXXX XXXX. Shellpoint has continued to charge me for their own lender-placed insurance policy, which is much more expensive and provides less coverage than my own policy. This is a violation of federal and state laws, such as the Real Estate Settlement Procedures Act ( RESPA ), the Consumer Financial Protection Act ( CFPA ), and the Florida Insurance Code. I am not the only victim of Shellpoint 's abusive and fraudulent behavior. Many other customers of Shellpoint have reported similar experiences of harassment and discrimination. Shellpoint 's actions have caused me and others financial harm, emotional distress, and loss of dignity. I urge you to sue Shellpoint on my behalf and on behalf of other customers who have suffered from their illegal and unethical conduct. I have attached copies of my insurance policies, payment receipts, and correspondence with Shellpoint as evidence of their wrongdoing since they start servicing our loan. I hope you can help me and others get justice and compensation for the damages we have endured. Thank you for your attention and cooperation. Sincerely, XXXX XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-12-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Trouble during payment process
Subissue: Private mortgage insurance (PMI)
Consumer Complaint: I am writing to bring to your attention a concerning matter involving Shellpoint Mortgage, the servicer for my loan with the following details : SHELLPOINT MORTGAGE SERVICING XXXX XXXX XXXX XXXX, TX XXXX Loan number : XXXX Over the past year, I have encountered significant challenges with Shellpoint Mortgage concerning their imposition of forced insurance on my property ( condo ). They assert that the XXXX XXXX XXXX XXXXs incorrect, prompting the placement of an additional policy. Despite my repeated attemptshaving sent them the insurance policy over XXXX timesShellpoint Mortgage persists in maintaining this forced insurance, which exceeds the necessary coverage. My primary concern is that Shellpoint Mortgage may be exploiting this situation for financial gain, as they have yet to refund the imposed insurance charges, even after receiving documentation directly from the condo association confirming the accuracy and sufficiency of the XXXX XXXX XXXX. This issue has resulted in an undue financial burden on my part, as I am currently responsible for XXXX separate insurance policies : the condo master policy, a XXXX personal policy for the interior, and the Shellpoint forced policy. The annual cost of the Shellpoint policy is a staggering {$5000.00}. Regrettably, my attempts to resolve this matter directly with Shellpoint Mortgage have been unsuccessful for nearly a year. Additionally, I would like to bring to your attention that there have been several lawsuits settled with Shellpoint Mortgage on this same issue, indicating a recurring problem that requires immediate attention. I kindly request your office 's assistance in investigating this matter thoroughly and facilitating a resolution. The enclosed documentation provides evidence of my efforts to comply with Shellpoint 's requests and the XXXX XXXX 's affirmation of the XXXX XXXX XXXX 's correctness. Your intervention is crucial in securing a refund for the unjustly imposed forced insurance and addressing the potential financial misconduct by Shellpoint Mortgage. I am at a loss for further action and would greatly appreciate your guidance and support in rectifying this situation. Thank you for your attention to this matter. I am hopeful that your intervention will lead to a fair and timely resolution. I've also attached today 's request that was sent to Shellpoint. They have refused the documents for over a year.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33325
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: On XXXX XXXX XXXX I was notified that a Notice of Default was filed on my home due to delinquent payments that were not made due to an unforeseen hardship. I made contact with Shellpoint Mortgage Servicing and spoke with Loss Mitigation Representative, XXXX XXXX. During that call, arrangements were established to send {$120000.00} via wire. On XXXX XXXX XXXX he sent me wiring instructions via e-mail from an e-mail address of XXXX and confirmed my wire was received and applied to my mortgage loan on XX/XX/. He advised verbatim that everything looks good to continue payments as we discussed. He advised that I would receive a forbearance agreement in the mail concerning these arrangements which I never received. He also advised me that within a week, he would advise the total amount it would require if I was interested in reinstating my account and that the NOD would be cancelled once my loan was fully reinstated. I was under the impression that the foreclosure was suspended. An additional wire was sent to Shellpoint in the amount of {$15000.00} in accordance with our verbal arrangements which was verified received on XX/XX/. I waited several weeks for this forbearance agreement outlining the terms of our arrangement which allows partial payments to be made however ; never surfaced. Thereafter I receive a Notice of FC Sale Date XXXX It is my believe that this is a wrongful foreclosure due to the following ; ( 1 ) I never received a forbearance agreement outlining the terms of our agreement ( 2 ) That the funds were accepted and remained applied to my loan from XXXX XXXX XXXX to present. ( 3 ) That acceptance of funds validates that there were arrangements and that my foreclosure should have been placed on hold ( 4 ) I have written e-mails from XXXX XXXX with Shellpoint that partial payments would be accepted and applied. After being notified of the Foreclosure sale date, I contacted Shellpoint on XX/XX/XXXX and spoke with XXXX to get an explanation as to why my foreclosure was not suspended and why the funds in the amount of {$140000.00} were never applied. She reached out to a supervisor and advised me that the funds would be applied and to allow 24 hours for posting and that I would see it online the following day. She also told me that I would get a letter as to why the funds were never applied within one week. Furthermore, I was told that there was no formal agreement in place and that a forbearance agreement was never generated by XXXX XXXX concerning such arrangements. I was also advised today XXXX XXXX XXXX XXXX XXXX XXXXLoss Mitigation that a " Breach Letter '' was generated on XXXX XXXX XXXX and that I had 30 days to cure the default before my loan would enter foreclosure. He said that MY LOAN WAS REFERRED TO FORECLOSURE IN ERROR. I was also advised that my funds were reversed off of my loan as of XXXX XXXX XXXX and that they were not able to advise if it was mailed back to me or wire back to an account that has now been closed.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94506
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-04
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: The NewRez mortgage servicing company that I used to use with my XXXX ex-husband is sending me emails about his current loan and refuses to take my email address off of his account. I know his name, phone, current address and social but apparently thats not good enough to remove my email address since I obviously dont have his new loan number. I have no desire to start communicating with him to fix his problem & its incredibly upsetting for me to see my XXXX name unexpectedly in my email.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IA
Zip: 52722
Submitted Via: Web
Date Sent: 2023-12-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-05
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: Hope this letter finds you in good health. As a loyal customer, I'm writing to you to voice my concerns about certain late payments that were shown on my account. SHELLPOINT MORTGAGE XXXX This account was NEVER late. The late payment is erroneous. Those payments were made on time. I am requesting that the late payment markings be updated to reflect my accurate payment history. If there is any confusion, I suggest you contact myself or SHELLPOINT MORTGAGE customer service I respectfully ask for your cooperation in removing the late payments that were noted from my account history. I cherish my good relationship with the credit card company and pledge to create a more regular and timely payment schedule going forward. I am aware that the company has policies in place regarding late payments, and I sincerely hope for your understanding and consideration in this matter. If there is any additional information required or a formal process to follow, please guide me through the necessary steps.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94544
Submitted Via: Web
Date Sent: 2023-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A