Date Received: 2020-08-05
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: We applied to refinance our existing mortgage loan with New Rez on XX/XX/2020. ( NewRez is the current mortgage holder. ). We were sent an email on XX/XX/2020 stating the loan had been approved, and additional documents would be needed to finalize the loan. Prior to approval the appraisal had been completed, financial documents supplied etc. Our originator estimated we would close in XXXX and our savings would be about {$300.00} a month with first payment being XX/XX/XXXX. The problems began during the processing portion. When asked to provide anything additionally we did so within 24hrs. The mortgage company would go weeks without responding to my requests for updates and then ask for duplicate information or no information at all. I had to constantly call or email and copy multiple managers to get any response from the company regarding the status of my refinance. I finally grew frustrated with the lack of response and totally disorganized service from the mortgage company. The loan processor seemed to be starting over with no knowledge of our loan situation and requesting duplicate information. On XX/XX/2020, I emailed the loan processor ( XXXX XXXX ), copied the loan originator, and copied a manager ( XXXX XXXX ). I told them I wanted to respectfully ask for my original appraisal to be returned so I could go to another lender to refinance. I immediately received a phone call from a different manager who asked me to give them 2 weeks to close the loan. I happily said yes, please close! I also asked for a different processor who was more organized. The company complied and all seemed well. I provided additional documentation. Again however the processor communication has gone XXXX. Her voice mail is full and she has not responded to my emails since XX/XX/XXXX. In her last response to me on XX/XX/XXXX she confirmed I had provided all necessary documents and they were waiting on condo document approval. This long unorganized process has cost us time and money. The inability to reach anyone is very frustrating. I am concerned because we have provided confidential financial information regarding our personal finances and my husband 's business. Social security numbers, bank account statements and so much private information has been entrusted to this company and multiple individuals within. I am very concerned about the integrity of the company and the risk of information in the hands of so many people, not to mention our monetary loss with the delay. This company seems so disorganized and incompetent. I have had a career as a lender with a bank in the past, I have financed multiple properties over 30+ years and this is the most unprofessional and disturbing financial encounter I have ever had.
Company Response:
State: AL
Zip: 35242
Submitted Via: Web
Date Sent: 2020-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-05
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: This complaint is about the loan modification process at Shellpoint Mortgage Servicing. Please help me resolve this issue and obtain a final loan modification within 30 days. The problem began XX/XX/2020. Please note this date is after Pres. Trump disaster declaration due to COVID-19. My initial application for a loan modification was mailed on or about XX/XX/2020. Shellpoint requested that I complete a second ( 2nd ) modification application in XXXX. This second application was faxed on XX/XX/2020. Per a conversation with a Customer Service representative, my application for modification was approved on XX/XX/2020. As a consequence of an error made by Shellpoint the modification was subsequently cancelled on XX/XX/2020. On XX/XX/2020 I finally received written communication from Shellpoint stating, my account is seriously delinquent and in order to avoid foreclosure I needed to act by XX/XX/2020. I have spoken with customer service multiple times over the past 7 months and have made my monthly payments in the amount directed. Since XX/XX/2020 I have consistently made the monthly trial payments in the amounts requested. I have paid through XX/XX/2020. It is now XX/XX/2020 and my modification still has not been approved and I am being asked for additional trial payments some of which have already been paid. ( Specifically XX/XX/2020. ) I am now being threatened with foreclosure if I do not make another payment for XXXX. I can not afford to make double mortgage payments. It has been 7 months since the modification was approved. It has been 7 months I have made payments as requested and waited to receive paperwork.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OK
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-04
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Shelly point mortgage is showing that my mortgage is in dispute. this is effecting my refinance on my owner occupied home. they are also showing a late fee on the monthly statement and i have never been late on this loan in 15 year.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94025
Submitted Via: Web
Date Sent: 2020-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have filed a complaint about this issue before, and it is still unresolved. ( See CFPB Complaint XXXX ). I have been attempting to deal with this issue for 7 months. XX/XX/2020 we submitted a request for PMI removal. Eventually, NewRez responded and sent a local Broker to perform a Broker Price Opinion to establish current market value for our property. The Broker did not provide an accurate valuation of our property, as he compared our 5 bedroom +Office, 5,262 square foot home on nearly 2 acres of land with homes which were 3-4 bedrooms, 4,000 square feet on lots in most cases less than an acre in size. He listed our home as having 4 bedrooms, 2.1 bathrooms, 3080 square feet. Clearly, this was inaccurate. Despite NewRez requesting him to update information when presented with this, the Broker did very little. I am currently involved in a formal complaint against him with the Tennessee XXXX XXXX XXXX. However, despite hundreds of pages of documentation supporting our claim that the BPO was inaccurate, NewRez will not refund us the BPO fee, nor have they responded to any request we have made to pay for a full appraisal of the property. I emailed them again XX/XX/XXXX requesting this be performed. I received no response. I emailed them again today demanding someone contact me about this matter, or else I will be taking legal action against them. I have hundreds of pages of documentation about this issue, which detail how the Broker undervalued our home. I disputed the issue as requested by NewRez and provided them 6 additional comparable properties. They sat on it and never did a thing. At this point, I am at the end of my rope, and am out of patience. I feel them to be negligent in their duties as servicer of my loan. I am attaching copies of all documentation relating to this issue. This is the 7th CFPB complaint I have been forced to file against this company. They do not respond to phone calls or email communication apparently, unless it is about a CFPB compplaint.
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
State: TN
Zip: 37421
Submitted Via: Web
Date Sent: 2020-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-04
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX, I had applied for a cash out refinance loan on a manufactured home. I already had a loan with the lender : New Rez. I completed paperwork, and my loan rep ( yes, I will name names ) - XXXX XXXX was more than happy to communicate with me on the required documentation and appraisal fees which were sent. He was very prompt in his communication with me. An appraiser came in late XXXX to appraise the home which appraised very well. Everything was in order or it seemed. I called on XX/XX/XXXX for a loan status and received no call back, I proceeded to continue to call with no callback and sent emails with no reply for a month and a half. My loan was then with XXXX XXXX ( Jr.Loan Processor ) who also, never called me back to let me know how the loan was progressing, It was not until late XXXX, that I finally made contact with a random rep who informed me my loan was denied. Were they ever going to let me know the loan was denied while I waited for almost two months? It was denied due to : New Rez does not do a cash out refinance on a manufactured home. This information should have been disclosed at the beginning when I called and ASKED. Nothing was disclosed and they knew full well this loan was never going to be approved. However, they were more than happy to take my appraisal money in the amount of {$500.00}. After I paid, I heard nothing. New Rez has in essence, stolen from me and are predatory lenders. I was assured by the random rep that the issue would be escalated, but it is going on two weeks with no reply and the random rep is now ignoring my inquiries. I am at a loss. I am frustrated with calling and being forwarded to rep after rep with no resolution. I don't know who to call or what to do to get my money back. I would hope this would be resolved in good faith, but it seems pretty hopeless now.
Company Response:
State: AZ
Zip: 86442
Submitted Via: Web
Date Sent: 2020-08-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have an account with NewRez LLC d.b.a. Shellpoint Mortgage Servicing. Due to hardship induced by the COVID-19 pandemic, I fell behind on my mortgage payments. I attempted to call numerous times ( at least 12 ) to fix this issue during the months of XXXX and XXXX ( before I went delinquent on the account, but I was never able to get through to a representative, sometimes leaving my phone on speaker phone for over an hour while I waited ), and I called at least 5 times during XXXX and XXXX ( after being late on my payment ). In XXXX, I was able to make contact with Shellpoint ( about 2 and a half weeks ago ), and the representative there explained that I had a caseworker for my account and to call that person the first week of XXXX to discuss an option that was available to me. It was explained that this option would make FHA assume 3 of my mortgage payments and add them to the end of my loan, fee and interest free. A part of my loan program allows me to move at least one payment to the end of my loan as a part of my terms and conditions anyway, and when I spoke to the representative 2 and a half weeks ago, I explained that to her as well before she gave me the first option mentioned above. I also explained this to the representative today who continued to read me a letter I've never seen before that didn't mention any of what I was told, and the place she advised me to go just kept referring me to options that didn't fit my situation. My initial intent was to move one payment to the end of my loan term ( benefit spelled out in my terms and conditions of my contaract ) and make 2 months worth of payments to be completely caught up and current, but because of what I was told, I used the extra money to pay other creditors I owed. This situation needs to be remedied. I feel asking me to make my full forbearance payment right now i unfair and deceptive. They should really have representatives that are on the same page and that provide accurate information, especially during this uncertain and hard time we're facing as a country. I would've paid this when I had my first conversation if it wasn't for the information I was given ( I said that on the phone call as well and I also verbally confirmed this program would be available to me when I spoke to the representative of Shellpoint a couple weeks back ).
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 231XX
Submitted Via: Web
Date Sent: 2020-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-03
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Shellpoint mortgage took over my loan from XXXX XXXX in XX/XX/2020. Since that time Shellpoint has not made my loan whole since they took over. Payments varied from month to month from $ XXXX XXXX per month. My payment should be XXXX according to my XXXXXXXX XXXX terms with XXXX going towards my principal and interest and {$360.00} going into my escrow account. They continue to put my interest at 5.5 % and the loan modification that was set up by XXXXXXXX XXXX is 2 %. I have a letter stating that Shellpoint checked over the terms of loan from XXXX and said that 2 % is the interest rate on the loan and yet Shellpoint cant get it right since XX/XX/2020 and as of this date XX/XX/2020 they are still charging me 5.5 %. Since XX/XX/2020 they also have been charging extra escrow to my loan and that is due to the fact of the homeowners insurance that they are charging me that they should not be doing. I pay my homeowners insurance every month with my auto insurance. When XXXXXXXX XXXX had my loan it was set up to pay my homeowners on my own so it was not in the terms for Shellpoint to take that out. Currently Shellpoint has {$2000.00} that they sent to XXXX XXXX and in return XXXX XXXX sent it back to Shellpoint. Since i have been making my full payment of XXXX every month, Shellpoint has put money in other places that i have no idea where. On my statements it shows that i only paid {$200.00} and thats it. Where is the other XXXX???? I now have Shellpoint calling 2-3x per day asking me when am i going to pay last months payment when in fact the already have it. They also have sent it to the credit bureau and my credit score has gone down. i have spent my whole life taking pride in my credit score and just like that Shellpoint destroyed that.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MN
Zip: 55125
Submitted Via: Web
Date Sent: 2020-08-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: NewRez, which is an affiliate of ShellPoint Mortgage, charged my escrow account maintained with NewRez for Private Mortgage Insurance ( PMI ) for the months of XXXX and XX/XX/2020 twice. My PMI monthly payment is {$130.00}. The first time was charged on XX/XX/2020 for both months and then again on XX/XX/2020. After contacting NewRez via online messages twice in the last two months trying to resolve the issue, just today, I received an electronic secured message from ShellPoint stating ( Please be advised, Private Mortgage Insurance is paid in arrears. Your payments taken out were for missing PMI payments. We have determined that no escrow occurred, and we are not able to issue a refund. )
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91915
Submitted Via: Web
Date Sent: 2020-08-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The servicer failed to pay all taxes on the home. Due to that a lien was threatened on the home due to a tax sale. The company charged me XXXX for legal fees which should not have been charged to me due to their error in not paying. In addition once I was made aware of the issue, the servicer was in the process of transferring loan and would not advise me of anything. I ended up spending XXXX of my own on an attorney. The servicer has not refunded my XXXX payment and should be responsible to reimburse me the XXXX as well.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DE
Zip: 19810
Submitted Via: Web
Date Sent: 2020-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-01
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Problem with personal statement of dispute
Consumer Complaint: In XXXX, I sent several letters to my then mortgage company asking for them to validate the said loan. They never sent me any validation and by XX/XX/XXXX, they transferred said loan to another mortgage company instead of dealing with me. So, I began sending validation letters to the new mortgage company and found out there was XXXX mortgage companies associated with this said loan and they too, would not validate this loan. They sent VA to my home to serve me with a summons. By this time, I had done a quitclaim to transfer my home to a 508 ( c ) ( 1 ) ( a ) irrevocable trust and had it notarized and recorded with my county. Summons was answered and court followed. Judge and plaintiff would not listen or read my trust paperwork, my quitclaim or any of my paperwork as if nothing I said mattered. So, I lost in court, than Covid 19 began. I have since, sent out criminal complaints to FBI, NSA and Homeland Security. I am waiting now for responses from one or all. Thank you
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 953XX
Submitted Via: Web
Date Sent: 2020-08-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A