Date Received: 2020-12-08
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I applied for a mortgage loan modification thru Shellpoint and have been working with XXXX XXXX, I received notice on XX/XX/XXXX that my File was not approved because the proposed modification would go up instead of down by {$10.00} ( XXXX Dollars ). My current rate is at 10.99 %. My current maturity on my loan is XX/XX/XXXX 11 years left, They stated they could not extend out my maturity even though this is a 30 yr loan. I wrote a letter of appeal to Shellpoint addressing the following XX/XX/XXXX SHELL POINT MORTGAGE Re : XXXX XXXX Loan # : XXXX Property Address : XXXX XXXX XXXX XXXX, PA, XXXX XXXX Attn : Loss Mitigation Dear Loss Mitigation, I am writing this letter regarding the decision for my request for Loan Modification. I understand the decision for modification was declined because my new scheduled payment was set to increase by {$10.00} which in your guidelines I would not be eligible for assistance. As you can see my financials attached, I have a surplus of income of {$560.00} and I can afford the payment and would gladly accept the terms. But I can also contribute {$5000.00} towards the delinquency to bring my amount owed lower and clear the {$10.00} deficit also as a good faith payment. Please help me I am XXXX years old and do not have the strength to start up again, please help me. Shellpoint stated that based off my investor they would not allow a maturity extension or even take my {$5000.00} i offered to help get my mortgage payment lowered so I can cure the {$10.00} deficit. I have done some research online and have communicated with other homeowners with the same investor and have discovered that they can indeed extend the terms. CFPB please help me save my home, I'm an old man just need help saving my piece of the American pie. Please, Please help with Covid-19 I can not risk to be out in the street as I am a prime candidate for Covid. As well when I asked for the Net Present Value results the pages are blank and did not provide them.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 158XX
Submitted Via: Web
Date Sent: 2020-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX I submitted a complaint against my mortgage servicing company, # XXXX. They had attempted to raise my mortgage payments by claiming that my escrow account was low. After several months, numerous calls, filing multiple complaints and supplying additional paperwork to confirm that I was not required to pay monthly escrow for taxes or homeowners insurance, they finally acknowledged their error and ensured me that it had been corrected. In XXXX I attempted to pay my property taxes and discovered that the company again had submitted a payment causing my escrow escrow account to show a negative balance of {$2800.00}. This action was taken by the company after having been told numerous times that I pay the taxes directly and they were not to submit any payments on my behalf. I am in the process of refinancing my loan to take advantage of the lower rates, because of their careless and negligent actions there is a possibility that the new mortgage will have to be higher in order to pay this debt. I am retired and on a fixed income, I have been paying my taxes on a quarterly basis and that is what I have budgeted at this time. They paid the total amount which now shows that I owe 2x the amount of money that had been budgeted for this expense. On XX/XX/XXXX I contacted their customer service and spoke to an individual named XXXX XXXX. He identified himself as a supervisor and stated that he would address the issue. I had not heard back from him after 1 week and sent an e-mail to an individual named XXXX XXXX in the Compliance Department. Ms XXXX initially did not even acknowledge receipt of the complaint and did not respond until I sent a follow-up e-mail. She then sent an e-mail saying only she was looking into it, there was no information about when actions would be taken to correct their error.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 019XX
Submitted Via: Web
Date Sent: 2020-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is a continuation of the following complaint : XXXX. I have been trying on and off to pay the mortgage since XX/XX/XXXX for XX/XX/XXXX. One again the website to New Rez sometimes work and sometimes does not work. New Rez has previously given me a lecture on clearing my cookies, etc ... I have done all that and then some. Since it has been brought to my attention that the behavior that New Rez is displaying is not usual and customary, I decided to research how many other people are " having trouble with the cookies " on their computers. I have found out that there are many many many other consumers throughout the world, reporting the same difficulties with the New Rez website that I am. I would like to send a XXXX XXXX payment but am concerned, that based on New Rez previously taking my previous XXXX XXXX payments and dispersing it as they felt necessary, and refusing to reverse the unauthorized disbursement of funds after I asked, the same could happen to XXXX payment.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: FL
Zip: 33511
Submitted Via: Web
Date Sent: 2020-12-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-08
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: i have 2 mortgages with SHELLPOINT MORTGAGE SERVICING with perfect payment history, untill covid 19 hit and i called in to seek assistance. somehow i find out mon ths later on my creit report that they are reporting me delinquent for 2 months on one of the 2 mortgages. i called in again and a second time and both times i was told that i didnt request assistance but they would apply retroactivley and retract the negatives on my credit. i did ask for assistance as evident by the help i received on the other loan. So to tell me i did not seek assitance on one while asking assistance for a second is lacking in the principle of a reasonable conversation. it never came off my credit so i assumed it was just a technicality and i contested with XX/XX/XXXX and it came back " accurate ''. the servicer knew i was impacted by covid 19, i actuallyXX/XX/XXXXand am still suffering yet they choose against the CARES ACT to punish me through there so called acurate reporting without u ndestanding at all that it was through the washington state governor stay at home order that undercut my tenants ability to pay and therby mine as well. If one seeks assistance and the assistance is missed but that institutions records show that ypou did seek assistnce and were impacted by covid 19 and then ask for them to correct their error and they dont, is that not the exact reason why the CARES ACT was implemented to give leeway and understanding to the chaos of the pandemic for both furnisher and consumer. The CFPB regulates thre FCRA, and congress passed the CARES ACT to help all of us affected by COVID 19 including your institution. I called many times immediatley and following up yet you refuse to accomodate at the time or retroactivley due to the circumstances falling upon us all. Covid 19 afffects all of us the CARES ACT helps all of us navigate this I had covid 19 which may impact me forever, but so will your negative credit reporting that you choose to report negative and should not have and should have already retracted. this is in violation of the CARES ACT, at least its intent as i understand it to exist to avoid this disconnect
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: WA
Zip: 98001
Submitted Via: Web
Date Sent: 2020-12-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-07
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I was hoping you could help me again move things along with Shellpoint Mortgage Servicing on getting a release for the property at XXXX XXXX XXXX XXXX, WI from XXXX XXXX XXXX. XXXX, WI The problem started when XXXX XXXX broke up the three properties into three separate loans but thy kept using the same legal description on all three loans. I spent over TWO years working with XXXX XXXX who bought the loans from XXXX XXXX trying to straighten this out. I hired a lawyer who they just ignore. So, I went on a letter writing campaign to every government agency I could think of, my Senators, XXXX XXXX XXXX, ect .... That finally got a response out of them. Within a couple of weeks, I had my release so I could sell one of the properties. They were in the process of correcting the legal descriptions on the other two loans but unfortunately they sold the loans before there legal department finished correcting the legal description on the two remaining loans. Now Shellpoint Mortgage Servicing has the loan and I've been trying to get a release so I can refinance one of the properties. I am Kind of on a timetable because the refinance was to pay off a substantial debt that I owe to the USDA for a defaulted Farm loan. We negotiated a very reasonable settlement which we are going to take the proceeds from the refinance and forgive the rest of the debt. My concern is because of the delay in getting the release from Shellpoint for the property they may pull their offer off the table and I'll still be liable for the hole amount. Attached is all the supporting documents. Surveys with the correct legal description, Letter from XXXX acknowledging the problem, XXXX release for lot # XXXX. At this time I'd be grateful for just the release for lot XXXX from lot XXXX & XXXX. This way I can continue with the refinance and paying off the USDA. At a more convenient time we can work on correcting the legal description on the loan documents. XXXX XXXX XXXX XXXX XXXX
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
State: WI
Zip: 531XX
Submitted Via: Web
Date Sent: 2020-12-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-06
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: they lied, and make up false claims about being late. they hurt my credit trying to refinance. shell point screwed my credit up big time. never been late, says my bank, they lied to all the credit companys. they XXXX you up to trap you. I paid my own taxes, paid home owner insurance. also paid my flood insurance. no credit given. they keep adding fees, and ignore consumers. this company needs to be shut down. The XXXX XXXX XXXX also says there not doing buss. right. p, lease help, there are hundred s of people and families suffer from shellpoint. there a very bad company, the government needs to investigate them. i really want to sue them, for lies, and ruining my credit ... .I have all the papers to prove all this ... ..harrassing my family, calling me on sat.s and sun.s
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33919
Submitted Via: Web
Date Sent: 2020-12-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-05
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: XX/XX/20 I received a letter from XXXX XX/XX/XXXXXXXX informing that my 20 % mortgage was maturing on XX/XX/XXXX. When I called them asking for options, they told me nothing was available from them and I would have to refinance through another lender XX/XX/20 I received a letter from NewRez c/o XXXX XX/XX/XXXXXXXX informing me that my interest rate and monthly payment amount for my 80 % mortgage would be changing as of XX/XX/20. This is why I choose them to refinance both mortgages into one after XX/XX/XXXX couldn't help me XX/XX/20 I contacted XXXX XXXX XXXX XXXX to start a mortgage refinance. I sent emailed all requested information to the loan officer but then spent weeks trying to verify he had everything needed from me. XX/XX/20 I contacted NewRez in regards to refinance options because the manager at XXXX let me know that due to their employee quitting unexpectedly my refinance was never started as I believed. She felt that a refinance of my mortgages through XXXX would not be completed by XX/XX/XXXX. She felt that the mortgage holder might have different deadlines available to them. I called XXXX XXXX from NewRez Refinancing department. He said he would check with his supervisor about the XX/XX/XXXX deadline issue. XX/XX/20 XXXX called me to let me know that after checking it was determined that the XX/XX/XXXX deadline would not be an issue when refinancing both me mortgages ( XX/XX/20 ) with them. Because the 20 % holder was a sister company, they would be able to see that the refinance was in process and everything in regards to that loan maturing would be on hold because they would be able to see that a refinance was in process. I applied for a refinance with NewRez on this date and submitted all requested documentation. XX/XX/20 XXXX called me to set up an appraisal, I paid {$500.00} XX/XX/20 I received an email from XXXX to authorize a title search which I executed and returned. I also received an email with the appraiser contact information. He would reach out to me direct for scheduling. XX/XX/20 I received an email from XXXX letting me know that my loan was sent to the underwriter for review XX/XX/20 Appraisal was done XXXX Appraisal was received by NewRez and I got a copy XX/XX/20 I requested an update on the refinance from XXXX via email XXXX XXXX requested updated paystubs which I was able to send on XX/XX/20 XXXX I received an email from NewRez informing me that my loan was approved. It listed a new Loan Number & gave access to a loan portal XXXX I emailed XXXX asking for an update on refinance because I could not log into the loan portal for details. I also asked for verification about not being able to pay 20 % mortgage payment since it matured on XX/XX/XXXX. XX/XX/20 XXXX responded to my email and copied XXXX & XXXX. He stated that I should continue making payments unless I had a closing date. He also asked XXXX & XXXX to address my concern. XX/XX/20 I emailed XXXX, XXXX & XXXX asking for direction because letter from XXXX stated that payments less than the full balance might be returned after XX/XX/XXXX. XXXX responded telling me to try to make the monthly payment for the 20 % loan. XX/XX/20 XXXX asked me my loan number. XXXX immediately replied with my 80 % mortgage number ( XXXX ), my 20 % mortgage number ( XXXX ) and my new NewRez number ( XXXX ) XXXX XXXX emailed me to congratulate me that my loan was conditionally approved by the underwriters. He asked for documentation that had previously been submitted to both XXXX & XXXX. There was a? in the area for the date of closing so I called him immediately to ask questions including how to handle not being able to pay the 20 % mortgage payment for XXXX. I got voicemail & left a message. In a separate email, XXXX stated that he did not see loan number XXXX in my records and asked if I was referring to the lien on the property by XXXX County. I immediately responded that I was not referring to XXXX County and that the 20 % mortgage was XXXX. He then responded " What do you mean by you will pay on your second mortgage? '' XX/XX/20 left voicemail asking XXXX to call me XX/XX/20 XXXX called to discuss XXXX not being willing to take a monthly payment and said he would have to talk to someone to see what could be done XX/XX/20 XXXX emailed me to ask if I was able to use my own funds to pay off the $ XXXX balance of the 20 % mortgage. I let him know that I do not have that amount of funds and if I did I would never have started the refinance process. He replied that he would get back to me on Monday. XX/XX/20 At XXXX XXXX, I received an email from XXXX that stated that my refinance was being cancelled
Company Response:
State: PA
Zip: 17011
Submitted Via: Web
Date Sent: 2020-12-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX I contacted Shellpoint Mortgage Servicing about having the PMI removed from our mortgage, as we had reached 80 % of the original value. At that time I was told that was not so and it was not eligible until XXXX. Beginning XX/XX/XXXX they started charging an additional {$340.00} in PMI. I was not aware of this until we received our escrow statement in XX/XX/XXXX, as they did not put PMI on our monthly statements. This escrow statement showed a shortage of {$2100.00}. The total PMI being charged from XX/XX/XXXX going forward is a total of {$430.00} per month. This amount is more than the amount going to principle - {$360.00} or interest - {$320.00}. This is outrageous. We did send Shellpoint {$150.00} to have a home valuation done in hope that the PMI will be removed. This home valuation was done XX/XX/XXXX. Regardless of what the outcome is, this PMI is being overpaid and should be corrected and refunded. The PMI should have been removed and we should not have even been required to pay the {$150.00} for the home valuation. Charging more in PMI than the amount of the principle is not right.
Company Response: Company believes complaint is the result of an isolated error
State: IL
Zip: 610XX
Submitted Via: Web
Date Sent: 2020-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-05
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Greetings, I am filing this complaint against New Rez mortgage company , the current lender of a primary mortgage for a home owned by my XXXX XXXX XXXX mother and myself. After the monthly payment increased more than {$300.00} per month due to an escrow discrepancy, it became unaffordable for my mother to pay on her own as she is the primary borrower and resident of the home. Together we filed an application for a refinance on XX/XX/2020 with XXXX XXXX of New Rez and were approved for a {$50000.00} loan on XXXX XXXX. During this time we have had difficulty communicating with the loan processor, XXXX XXXX and her manager, XXXX XXXX to understand why our loan has not closed and what needs to be done. There have been unexplained delays, requests for information that have already been provided, and complete disregard of my request to speak with a higher level manager to move my loan through the process. I am being ignored despite desperate attempts to get my loan closed. I am attaching a timeline of activity with copies of emails that transpired over the past few months. In addition to the verified emails, I made several phone calls, left multiple voicemail messages, and never once was able to speak with the loan processor that I recall. I felt that my loan was being mismanaged and due to the negligence of New Rez, my mother and I are being harmed as a result of unreasonable delays. We have continued to pay an unaffordable higher monthly payment while these delays continue and face losing the interest rate that was presented to us. The rate lock has already expired once and the time frame for another expiration is drawing near. We are concerned that the avoidance of our loan closing may be intentional to collect a higher interest rate. We are concerned that our file is being mishandled and our consumer protections are being violated under Regulation Z. At one point I called the general number for help and inquired if I could file a formal complaint. After not getting any direction, being placed on hold for lengthy periods, bounced around from place to place, etc., I called again and asked to speak with someone of authority who can help me. The representative provided me the name and number of XXXX XXXX who is XXXX XXXX XXXX boss. I called and left at least ( 7 ) seven voicemail messages for XXXX on various occasions over the course of a number of weeks expressing detailed concerns about my loan. XXXX, who I presume to be the next authority, never offered acknowledgment of my messages nor a return phone call - not even the common courtesy of an acknowledgment. To be honest, I am unsure if XXXX is even a manager. If she wasn't the correct person, the least she could have done was call me back.There is obviously incompetence and a lack of supervision happening, and at this point no one is willing or able to escalate this matter. This has been very stressful and the worst experience I've ever had with a professional service organization. So much so, that I've had to reach out to a regulatory authority to try to initiate action. We have no other means and can't afford the time commitment of going to a different lender. We don't know who else to contact. We have tried very hard to provide the necessary information that was asked of us, and made exhaustive efforts to contact someone who will speak to us but have failed in every attempt to resolve this matter. All I want is to close this loan to help my sick and aging mother from financial debt that has resulted from her loan payments being raised to an unaffordable level. In over 20 years of owning this home, the payments have never been this high. I'd like to ask, is this a case of elderly abuse, or discrimination, or consumer protection violation of Regulation Z? Any assistance that you can provide would be greatly appreciated. Please let me know if you'd like additional information. Thank you in advance.
Company Response:
State: NY
Zip: 130XX
Submitted Via: Web
Date Sent: 2020-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-05
Issue: Took or threatened to take negative or legal action
Subissue: Seized or attempted to seize your property
Consumer Complaint: Complaint against XXXX XXXX XXXX XXXX XXXX is Publicly traded on the XXXX XXXX XXXX XXXX under the ticker XXXX and is structured as a real estate investment trust. They are externally managed by in affiliate of XXXX XXXX XXXX XXXX. XXXX XXXX and XXXX XXXX XXXX engaged in mortgage back securities to defraud investors which is a federal crime. XXXX XXXX and XXXX XXXX XXXX fraudulently created mortgage back securities to defraud investors. Please see attached letter from XXXX ( Exhibit 1 ) On XX/XX/XXXX see attached notice of ownership change from XXXX claiming they transferred dated XX/XX/XXXX to XXXX pass-through XXXX XXXX. The letter states Its for informational purposes only and required by federal law. It also states the transfer of ownership has not yet been publicly record. ( See Exhibit 2 ) On XX/XX/XXXX XXXX fraudulently created a corporate assignment of mortgage from XXXX XXXX to XXXX not in its individual capacity but solely as trustee of XXXX pass-through XXXX XXXX see attached ( exhibit 3. ) New residential loan servicing and XXXX loan servicing created fraudulent mortgage back securities and sold it in the stock market to investors. The assignment was never recorded under city bank as trustee in Hawaii land Court bureau of conveyance. The consumer financial protection bureau and Securities and exchange commission should Immediately investigate XXXX XXXX And XXXX loan servicing for creating fraudulent mortgage back securities and defrauding investors which is a Federal crime. If XXXX XXXX is trustee for the XXXX Passthrough XXXX XXXX then new residential and XXXX loan servicing need to produce a recorded assignment in the name of XXXX as trustee on or about the closing date of the pooling and servicing agreement. I am asking the CFPB to immediately look into these fraudulent mortgage back securities that new residential, XXXX, XXXX XXXX XXXX and Shellpointe are engaging in. Im asking new residential servicing through CFPB ( Consumer financial protection bureau ) to provide a copy of the recorded assignment showing XXXX as trustee as required by the pooling and servicing agreement.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: HI
Zip: 967XX
Submitted Via: Web
Date Sent: 2020-12-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A