Date Received: 2020-09-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Around XX/XX/XXXX, we applied for a forbearance due to covid 19. My husband was fuloughed for a while. We were approved and received an email on XX/XX/XXXX. I had spoken to a few reps between then and now to ask what kind of repayment were we looking at. I was told FHA allows you to defer your payments to the end of the loan. Keep in mind I tried on several occasions to get in touch with someone with no luck. I even sent an email in XXXX trying to reach someone but I was never contacted to my knowledge. We received a letter in XXXX stating how far we were behind. So I called again to try a resolve. I was finally able to speak to someone. She advised me that we were late a pymt in for XXXX which I have denied. New rez bought our mortgage from another company and we were in the process of updating our payments to the new mortgagee. Since she said were we late, we were not eligible to defer our pymts to the back end of the loan per FHA guidelines. I asked her to escalate the call. She said she would have someone call me back. That was over a week ago. We receive another letter today stating we are 5 pymts behind and call them to avoid foreclosure. We want to start making payments again but do not feel like we were given all the info regarding the forbearance and do not feel like the we should have to do a modification loan now. Thank you for reviewing my complaint
Company Response:
State: KY
Zip: 42301
Submitted Via: Web
Date Sent: 2020-09-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-15
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: We are refinancing our current mortgage ( NewRez loan number XXXX ). The payoff statement for our existing loan provided by NewRez includes a line item for {$2600.00} for mortgage insurance that is in error, and needs to be removed. We have made numerous communications to NewRez over the past 21 days and have had zero follow up or resolution on the matter, and it is holding up the our refinance and is costing thousands of dollars in rate lock extension fees while we wait for the NewRez error to be corrected and a new payoff statement provided : XX/XX/XXXX Spoke with XXXX in the payoffs department and he said the matter would be escalated. We never heard back. XX/XX/XXXX Had a lengthy conversation with XXXX XXXX, supervisor, and he assured us the matter would be resolved. Never hard back. XX/XX/XXXX Emailed XXXX XXXX asking for a status update. Never heard back. XX/XX/XXXX Emailed XXXX XXXX asking for a status update. Never heard back. XXXX Emailed XXXX XXXX asking for a status update. Never heard back. XX/XX/XXXX Emailed XXXX XXXX asking for a status update. Never heard back. Furthermore, in the course of investigating this matter, XXXX XXXX XXXX confirmed that NewRez never made a single payment on the mortgage insurance policy since the we closed on our loan in XX/XX/XXXX, and the XXXX XXXX Certificate # XXXX was cancelled on XX/XX/XXXX. We are paying $ XXXX/month for mortgage insurance for a cancelled policy with a 95 % LTV loan with NO mortgage insurance right now.
Company Response: Company believes complaint is the result of an isolated error
State: CA
Zip: 90250
Submitted Via: Web
Date Sent: 2020-09-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX, I made a payment and did not get a confirmation, and assumed the payment did not through, and proceeded to make a second payment, this time obtaining a confirmation number for the payment. I called customer service to confirm whether they had received one or two payments. I was informed they had received two equal payment, I requested for them to cancel one of the payment since it was a duplicate. On XX/XX/XXXX, {$3500.00} were drafted from my checking account. However, Shellpoint, reverse that payment on their end, and did not apply the credit to the loan account. They dispute that they never received the money, however, supporting documentation from my bank account shows otherwise. I have called for 4 days, sent faxes, emails, submitted requests from their online portal, called numerous time and no one knows what to do, how to fix this. The account is now past due, and I am unable to make further payments until I pay at least 50 % of the fees due according to their records. Shellpoint claims the never drafted the money but can not prove it. I have proof that they did take the money out, and did not applied to the loan.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers
State: FL
Zip: 33025
Submitted Via: Web
Date Sent: 2020-09-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Shellpoint Mortgage Company has not given a full refund as stated in an email received on XX/XX/2020 at XXXX. Shellpoint Mortgage Company has withdrawn the following insurance premium disbursements from my escrow account : XXXX {$490.00} XXXX {$450.00} XXXX. {$67.00} On XXXX, Shellpoint Mortgage Company has decided to return {$490.00} to my escrow account on the day for Escrow Analysis. This amount is less than the {$490.00} insurance premium disbursement that was withdrawn on XXXX. On XXXX Escrow Balance was {$670.00}. On XXXX Escrow Balance is {$1100.00}. Shellpoint Mortgage Company has not returned the additional amounts of {$67.00} and {$450.00}. My actual escrow balance should be {$1600.00}. Shellpoint Mortgage Company has instead stated that after Escrow Analysis a shortage of {$1200.00} and an increase of mortgage payment to {$880.00}. Shellpoint Mortgage Company has intentionally not refunded all the insurance premium disbursements and is stealing funds from my escrow account. In addition, Shellpoint Mortgage Company is making false claims about a shortage being present when the fact is that my escrow account has a surplus and the mortgage payments should have decreased. This is against the law.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07601
Submitted Via: Web
Date Sent: 2020-09-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-16
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Below is the email that was sent to the company Hello, in regards to XXXX XXXX XXXX XXXX XXXX, AZ XXXX Loan ID XXXX It has come to my attention that my loan for the subject property has been signed up for the forbearance program without my request to be done. I do not want this program. I was told by XXXX XXXX, the customer service representative, on XX/XX/XXXX that my loan has been in the forbearance program since XXXX of this year. Please remove this from my loan as it has negatively affected my credit report. Also, I have made contact previously in regards to another credit report issue due a late payment from XX/XX/XXXX that was, in fact, not late at all. I also just learned that the payment for this month XXXX of XXXX was also named late. This is not true either. I have attached the credit report for both " late payments '' affecting my credit negatively. I have also attached both checks that were used to pay those statements and they had been cashed. Please resolve these 3 issues and remove them from my credit. I can be reached at ( XXXX ) XXXX ( XXXX ) XXXX XXXX XXXX Thank you for getting these issues resolved, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, AZ XXXX Loan ID XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AZ
Zip: 864XX
Submitted Via: Web
Date Sent: 2020-09-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-16
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I started a cash Out refinance in XX/XX/XXXX On my current home loan with NeWrez. The company has started this loan process 3 times as of today XX/XX/XXXX the loan still has not closed. The homeowner has excellent credit, this loan process is taking way to long. I feel that the slow pace has to do something with race. There is no reason a loan should take this long.
Company Response:
State: MD
Zip: 20708
Submitted Via: Web
Date Sent: 2020-09-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-14
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Good evening, I am having a problem with my Mortgage Servicer reporting a payment as 30 days late for the month of XX/XX/XXXX. I in fact were not late, and my payment was paid to Shellpoint on XX/XX/XXXX approximately, in which Shellpoint Mortgage themselves acknowledge. The problem is when they received the payment, Shellpoint never applied my payment to my account as a '' mortgage payment '' instead they tried to apply a portion to of my mortgage to some late fee I had no knowledge of, then applied the remaining into and account labeled " unapplied funds ''. I paid the full amount listed as the mortgage payment for the month of XX/XX/XXXX, the full amount showing owed! After I paid my mortgage payment for XX/XX/XXXX, I received a phone call from Shellpoint 's collection department, asking for my XX/XX/XXXX payment, when I explained to their representative, I had just made my XXXX payment, they replied no that was XXXX 's payment. I stated no I also made, XXXX 's payment on XX/XX/XXXX, she ask me to hold while, she tries to find out where my payment went. She came back several minutes later and admitted, that they took part of my payment for a late fee, put rest into unapplied funds, which she stated should not have happened and was extremely apologetic and would correct the problem immediately, Both XXXX and XXXX 's payments applied properly and she explained that all the inaccuracies, with my account and credit bureaus would be corrected in a few days. The only correction that was made, was to hide their error of applying my payment incorrectly, my account and credit were never corrected! I have made several attempts with Shellpoint to have the payment and credit to reflect properly, I get lots of promises, but no results. This has caused me several problems, with my credit card companies raising my rates, because I am a " risk '' now and when I applied for a new car loan, I had to take a much higher interest rate, due to the late payment on my mortgage all of which have cost me thousands of dollars more in interest. Which brings me to the current problem, I have now, because of Shellpoint 's inaccurate reporting on my Mortgage account, I have an insurance check from my Homeowners insurance company, for hail damage to my roof, that written to Shellpoint and Me. Because the estimate was written as the date of loss XX/XX/XXXX, Shellpoint will not endorse the check and allow me to put it in my bank and distribute as I see fit, they want me to endorse it over to Shellpoint, and let them control them control the funds and distribute how they see fit! The person I was speaking with at Shellpoint 's insurance loss department, stated that if my mortgage was reflecting as current for the month of XX/XX/XXXX, I would not have to be on a monitored plan, All that would be required was a legal copy of the check, they would endorse it and allow me to control how the funds are distributed at my leisure. She told me to reach out to their customer service again, to get it corrected, which I did and was told the XXXX Payment would corrected to show as current and the late payment would be removed from my credit, it would all be completed on XX/XX/XXXX. I called Shellpoint today XX/XX/XXXX, nothing has been corrected and I would have to speak to another rep and start a ticket all over again. All of my conversations regarding this are recorded, which they acknowledge every time I speak to them, so they are very aware of this problem and what has been stated.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: SC
Zip: 29707
Submitted Via: Web
Date Sent: 2020-09-15
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Date Received: 2020-09-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have been paying additional principle payments to my mortgage company, NEWRez LLC. And noticed that my maturity date published on my account online not reflecting the correct updated maturity date based on my additional principle payments. Called new Rez At ( XXXX XXXX XXXX And talked to XXXX how identify herself as a supervisor stated that my maturity date will not change online since I signed a contract for 30 year conversional mortgage. And my additional payments will be going toward my principle. The is illegal as the lender should not be able to keep the maturity date unchanged even if I pay additional principle meaning they are just pocketing the additional payments and not changing the amount of interest charged. I understand the interest rate will be the same regardless of my additional payments unless I refinance but what they cant do is charge me for a principle that I have payed. Lender is clearly violating my rights and over charging me with additional payments that I am not responsible for.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AZ
Zip: 85381
Submitted Via: Web
Date Sent: 2020-09-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-11
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage is being serviced by Shellpoint and they are responsible for paying my property taxes which was due on XX/XX/XXXX. I received a invoice for payment from my county and I reached out to Shellpoint on XX/XX/XXXX. I communicated with XXXX XXXX and she told me that the personnel handling the taxes did not pay on the due date because my town had extended the payment date to XX/XX/XXXX. After insisting the payment be made immediately she sent me a receipt that the payment was made on XXXX. I received a second note from the county that my taxes were delinquent. The letter was dated XX/XX/XXXX and when I spoke with the county they informed me that the payment was not processed because it was not correct method of payment. That payment was returned on XXXX to 3rd party, XXXX. I contacted Shellpoint and spoke with XXXX XXXX the supervisor who again assured me this will be handled with the 3rd party vendor they use to pay the taxes, XXXX. XXXX emailed me that a check was sent to the county XXXX and he would follow-up to make sure it was received. After not hearing from XXXX I followed up with the county and was told the check sent was not a certified check and was not accepted. I am still waiting to hear from Shellpoint on the status of my tax payment. This very late payment is now accruing interest. The point of having a mortgage holder pay taxes and insurance is to ensure bills are paid in full and on time. The money was in my escrow and I don't understand why Shellpoint waited to pay my taxes. Is this a scenario where they were trying to use the extended payment period offered by the county because they are illegally moving money from one persons escrow to pay off other peoples debt? I do not trust this company to continue to service my loan and I would like to see an investigation into their business practices.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: NJ
Zip: 08873
Submitted Via: Web
Date Sent: 2020-09-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-09-14
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: This complaint concerns servicers XXXX XXXX XXXX, XXXX XXXX XXXX, and Shellpoint Mortgage Servicing who are responsible for scheduling a foreclosure sale of my property in XXXX California on XX/XX/XXXX, although they have no contractual basis for exercising the power of sale and are acting in conscious and willful disregard of my rights without regard to their legal obligations. The servicer is obligated not to foreclose absent certain conditions precedent as stated in Section 22 of the DOT and that obligation was breached by noticing a foreclosure sale although the conditions precedent were absent. I have not defaulted on my legal obligations instead they violated the loan contract by overcharging, preventing and refusing performance, and inducing nonpayment in an effort to benefit by taking my home. Their actions constitute unfair, deceptive, and abusive acts or practices in violation of the FDCPA. They are misrepresenting the amount and legal status of the debt in violation of 15 U.S.C. 1692e ( A ). The scheduled sale is a threat to take action that can not legally be taken in violation of 15 U.S.C. V1692e ( B ) 5. It is an unconscionable and unfair means to collect a debt prohibited by 15 U.S.C. 1692f and the amount they are claiming due is not expressly authorized by the DOT which does not allow the imposition of foreclosure fees and charges in the absence of the borrower 's default. In XXXX, while in violation of the loan contract per the FTC action against XXXX, XXXX induced a default in payments with false promises of improved loan terms. Upon following their instructions to skip three months I called to catch up but my payments were refused. I was told they were not necessary, it was a benefit to borrowers while new terms were being determined. A few weeks later foreclosure was initiated and in my concern, I spoke with numerous agents, all of whom assured me it was a technicality and to be patient during the lengthy process. I relied on this misrepresentation to my detriment. For two years XXXX concealed that they lacked authority from the investors to modify and then denied a modification. I'd fallen victim to a profit-driven scheme in which servicers strategically induce default and initiate foreclosure. This allows them to unlawfully impose foreclosure charges and earn special servicing fees while high-interest rate arrears accrue. Having actively prevented the borrower from making payments and placing them in default the borrower is similarly prevented from achieving affordable rates through refinancing and is locked into a high-interest rate. The payments accrue as do the unlawful charges earning interest at the note rate and the principal balance balloons. This scheme increases the likelihood of foreclosure or can make modification more profitable by capitalizing high-interest rate arrears and charges into the new principal balance earning interest on interest. Under statute, if non-payment is induced or payment is prevented or refused by the creditor then performance is excused and the borrower is entitled to the benefits of performance. See Cal. Civil Code 1504, 1511-12. The conduct also constitutes a material failure to perform on the part of the servicer in their capacity as agent for the Lender. It is well-settled law that if one party prevents or makes impossible the performance of a condition then that condition is excused. It has the legal effect of suspending the borrower 's performance until their material failure to perform is cured. Restatement ( Second ) of Contacts 237. The servicers ' interference both prevented me from making payments and prevented me from finding affordable terms by refinancing. At the prevailing rate at the time my mortgage payments to date would have been {$220000.00}. Instead with high-interest rate arrears and foreclosure charges they claim I owe {$400000.00}. Keeping a debt collector from wrongfully foreclosing requires diverting an extraordinary amount of time and money that could otherwise have paid down the loan balance. A very modest estimate of the loss of income and legal expenses to date is {$250000.00}. The matter has been before the Court who ruled that a foreclosure sale would be wrongful due to the misconduct XXXX XXXX XXXX failed to cure. While aware of the legal consequences they failed to exercise cure rights and are relying on the disparity of resources and power to wrongfully foreclose Servicers XXXX and Shellpoint have in succession continued to undermine my efforts to meet loan obligations by trying to foreclose without the legal right to enforce the contract. Rather than curing the material failure to perform and allowing me to resume making payments, they are leveraging their position of power in an effort to either extort money far in excess of the amount owed to take my home. Instead of negotiating fairly with me to resolve the debt the servicers repeatedly schedule sales as an exercise in intimidation much like a mock execution. The purpose is to taunt me with their disregard for the law and the ease with which they could cause me irreparable harm. A sale is scheduled, something they may not legally do, and they threaten to sell my home of thirty years unless I pay them money to which they're not entitled. Much like its counterpart, this is intended to frighten and wear down resistance by waiting to cancel the sale increasingly close to the last minute. In the past year, they have scheduled at least five sales, in the previous years over ten sales have been scheduled. This results in my privacy being invaded by people driving by asking questions and my name in the newspaper prompts calls and texts from strangers inquiring about the house. The natural consequence of this conduct is to harass, oppress, or abuse in connection with the collection of a debt and is a violation of 15 U.S.C. 1692d.These tactics are all the more egregious as they are not being employed just to collect a debt but they are threatening to take my home as a means to extort money far in excess of the debt owed. Just as those repeatedly subject to mock executions are often scarred for life, this unlawful and abusive practice has had a profound effect on my emotional well being and my physical health including a XXXX XXXX XXXX that now limits my mobility. It is outrageous for federally regulated institutions to engage in unfair, deceptive, and abusive practices and injure borrowers in an effort to unlawfully take their homes. Nonetheless, inducing default and interfering with a borrower 's performance may afford a profit potential if a property is desirably located with substantial equity. The difference between a credit bid and resale value can represent a windfall. It's unrealistic to expect servicers to monitor themselves with this sort of incentive. Because it results in unavoidable injury to the consumer as a violation of the FTC Act I urge the CFPB and the FTC to investigate. XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 954XX
Submitted Via: Web
Date Sent: 2020-09-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A