Date Received: 2020-06-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Dear CFPB, I have contacted Shellpoint Mortgage multiple times since XXXX XXXX requesting PMI to be removed from my loan. I have paid down my mortgage to 78 % of the original loan as of XX/XX/XXXXXXXX. Shellpoint Mortgage is legally obligated to cancel my PMI at my request because my loan has satisfied all requirements. Please reference the Homeowners Protection Act of 1998, Section III, part B on page 3 ( https : //www.federalreserve.gov/boarddocs/caletters/2004/0405/CA04-5Attach1.pdf ). Shellpoint Mortgage has continually given me the run around. First they stated I needed to pay for an appraisal which is false because my loan to value ( LTV ratio ) has reached 78 %. If it was 80 %, an appraisal could be required. Then they confirmed they would remove PMI, but they never followed through on that promise. When I called in the Winter after noticing I was still being charged, they told me PMI was paid in arrears and assured me it was coming off. Now, their latest excuse is saying that my property is currently located within a declared disaster area and again requesting me to pay for an appraisal. The only possible disaster they could be referencing is Covid-19. First of all, I requested PMI to be removed in XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX long before Covid-19. Secondly, Covid-19 has nothing to do with the issue at hand. I have called their phone number and you can only speak to customer service representatives that are not educated to handle this situation and they are not able to connect me to anyone who can. All I can do is continue to email them, but I have zero faith they are going to honor what they are supposed to by Federal Law. This is the last opportunity Im giving Shellpoint Mortgage to rectify the situation prior to taking legal action.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CT
Zip: 06074
Submitted Via: Web
Date Sent: 2020-06-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have not received my XXXX statement which will show the XX/XX/XXXX payment due details. It is now the XXXX of XXXX. I have already made the payment but after contacting the lender Shellpoint Mortgage Servicing several times they have not provided an answer or reason and have only emailed me the XXXX statement which I already have. Not only have I not received it, it is not on the website via my login as with all other months. This is highly unusual and is very deceptive in that they are not providing me with the statement.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77087
Submitted Via: Web
Date Sent: 2020-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Shellpoint received my loan in XX/XX/XXXX. I wanted to make bi-weekly payments and asked to be signed up to their program. I signed up but their withdrawal calendar did not align with my pay periods and they suggested I make the bi-weekly payments manually. I paid 2 mortgage payment in XX/XX/XXXX and thus began making bi-weekly payments. These payments were unknowingly being applied to principal prompting me to call them every single month to have the payments applied correctly. My account is a complete mess and can not be followed as to what this company has been doing with my payments. I have a complete record of every time I have called this company asking for information, requesting my payments be applied correctly and making sure my account is in good standing. I was assured my account was in good standing. On XX/XX/XXXX, I received a notification that Shellpoint had reported me to the credit bureaus as 30 days late for my XXXX payment. I have bank records to prove my full XXXX payment was made on XX/XX/XXXX - I have proof I was never late with my mortgage payment yet because their accounting is so unorganized, they applied this payment to principal balance and never to my actual monthly payment. Only AFTER I called to complain on XX/XX/XXXX, did they apply the payments correctly ... AFTER the damage was already done to my credit. Since XX/XX/XXXX, I have been in a monumental fight with Shellpoint for them to retract the negative information they incorrectly reported to the bureaus so I can have my credit score restored. Shellpoint has done nothing to fix THEIR mistake since I called on XX/XX/XXXX. XX/XX/XXXX spoke to XXXX XXXX who assured me she would correct my payments and that I was not reported to the bureaus. XX/XX/XXXX received notification from the bureaus that I had in fact been reported as 30 days late XX/XX/XXXX spoke to XXXX, XXXX AND a manager called Ms. XXXX about this issue who assured me I was not late and that Ms. XXXX would send a letter out to the bureaus to have this misinformation corrected. XX/XX/XXXX Spoke to XXXX XXXX who assured me the letter had gone out XX/XX/XXXX Spoke to XXXX XXXX, a manager, who told me no such letter had ever gone out and that I would need to either dispute the information or send a copy of my credit report to her to prove that there was a late payment reported so Shellpoint could conduct an investigation. XX/XX/XXXX spoke to XXXX XXXX who told me monthly statements for my account were being sent out and latest one was XX/XX/XXXX. I have never received a monthly statement from Shellpoint and have since reported this to USPS and they are conducting a full investigation. XX/XX/XXXX spoke to Manager XXXX XXXX who assured me he has escalated this issue to upper management because my account is a complete `` mess '' and he said I should receive a call back within a couple of days. No call ever came. XX/XX/XXXX spoke to XXXX XXXX XXXX who then transferred me back to XXXX XXXX who again, assured me he had escalated the issue and I will be receiving a call back. no call ever came. XX/XX/XXXX spoke to XXXX XXXX who told me for Shellpoint to do anything with this complaint, I need to send proof that they have reported me 30 days late on my credit report. I sent that proof to her. XX/XX/XXXX spoke to XXXX XXXX who then transferred me to another manager called XXXX XXXX who then assured me she has `` escalated '' the issue and it should be resolved today and she would give me a call regardless.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CO
Zip: 806XX
Submitted Via: Web
Date Sent: 2020-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/2020 I received a letter from Shellpoint Mortgage informing me I could be eligible for up to {$10000.00} in HAMP incentives towards my principal balance. In the following paragraph it describes a opportunity to recast my mortgage. The amount with the recast was {$10000.00} higher ( total interest paid over remaining Life of Loan ) than without the recast. Everywhere I looked, it read this should not be the case. When I called Shellpoint they said it was part of the HAMP Program. I still thought it was odd that re-casting cost more in the long run. Then Covid hit and I thought that I had better opt for the recast and hope for the {$10000.00} incentive from HAMP. I still don't know if I am eligible for the other {$5000.00} at a later date. I still don't understand why my long term interest payment would be higher. And I got another letter saying that XXXX is due for XX/XX/XXXX and I have no idea what that is. I called early this morning and XXXX XXXX couldn't find out where that number was from. XXXX XXXX has limited info about HAMP loans and referred me to the Escalation dept and they send letters with information without explaining why. This is the way it has been. No one really seems to know what why the numbers are the way they are They are trying hard and seem to be guessing but that is not fair to us when we pay our mortgages. We need correct answers and help. I don't think it is fair for people to be told to call when they do that over and over and no one can help. It is a waste of time and not good business.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32608
Submitted Via: Web
Date Sent: 2020-06-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-22
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I applied for a refinance back in XX/XX/2020 and I was approved and all set with the mortgage. However, I come to find out New Rez, XXXX XXXX, had cancelled the mortgage without notifying me. I paid for the appraisal XXXX. And my credit score dropped because of this process. I then spoke XXXX XXXX XXXX XXXX who told me I had to apply again XXXX I did but he has been unresponsive for over 3 weeks. I have tried to speak with managers, and others with no luck. Vincents information XXXX XXXX Mortgage Consultant NMLS # XXXX P XXXX F XXXX M XXXX XXXX XXXX XXXX information XXXX XXXX Processor P XXXX F XXXX XXXX XXXX NewRez LLC XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, PA XXXX
Company Response:
State: NJ
Zip: 07024
Submitted Via: Web
Date Sent: 2020-06-22
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-22
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: In XXXX we were contacted by our mortgage company New Rez to refinance our home. We applied with an agent named XXXX XXXX. He told us we would qualify for a FHA loan and all we would need to get started was an appraisal for {$500.00}. We paid for the appraisal and started our application. Shortly after the loan went to underwriting we were informed that it was denied. The reason for denial was that we did not qualify because we had not been in the home for an entire year. We were not told that this was a pre-requisite of the FHA loan and were reassured that we qualified. We contacted Mr. XXXX to ask for a refund on the appraisal since we could never have actually qualified. We were told that this was not refundable and could not be applied to our principle balance. I asked to speak with a supervisor several times and was informed that they were not available but that he would discuss this with them and get back with me. I have all of the email communication between Mr. XXXX and I regarding this incident.
Company Response:
State: GA
Zip: 30144
Submitted Via: Web
Date Sent: 2020-06-22
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I see no record of payments made to XXXX XXXX in XXXX, XXXX, XXXX on my mortgage. Now the new holder of mortgage is attempting to collect {$42000.00} which has already been paid. XXXX went to XXXX and XXXX went to bankruptcy. I tried over the years to get info from XXXX with no success. Shellpoint Financial just picked up my mortgage in XXXX from XXXX, so XXXX has completely disappeared and XXXX disappeared with no record of my payments. I filed a claim against XXXX during bankruptcy, but the new company is totally ignoring my dilemma, saying it is overbroad. ( Shellpoint ).
Company Response: Company believes the complaint is the result of a misunderstanding
State: TX
Zip: 77584
Submitted Via: Web
Date Sent: 2020-06-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-20
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: Beginning on XX/XX/2020 and for the last three consecutive days I have been trying to log into my account to obtain loan statements to shop a potential refinance on my existing mortgage. Unfortunately I am unable to get anyone on the phone to assist and the website doesnt load any information. Ive attempted to log into my account roughly 30 times and it keeps redirecting in circles. Its unacceptable to not have access to any of my information and no one can help me.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92629
Submitted Via: Web
Date Sent: 2020-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We had cancelled a Forbearance on our account on Friday XX/XX/2020, At that time we paid our balance {$7900.00} and brought our account up to date. The reason we are needing this document, is that we are in the process of trying to close on our Refinance with another company at a much much lower interest rate. Shellpoint Mortgage stated they would get that cancellation notice emailed to me in 1-2 days. I have been having to reschedule our closing date due to Shellpoint not getting our Forbearance cancellation out as they said they would. I have spoked to numerous people and they all now say something different or come up with another reason. Just this morning they're telling me it will take another 10 business days. I feel I've been getting the runaround and they really could care less. I have done all I can on my part and I'm just afraid I will never be able to see this simple document stating the forbearance has been cancelled and I will never be able to go through with my refi. I've read numerous reviews about this company and they all seem to be negative. Please Please look into this for us.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 919XX
Submitted Via: Web
Date Sent: 2020-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-06-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I filed a complained to my mortgage service co on their web site about the Escrow Disbursement of {$2700.00} XX/XX/XXXX due date XX/XX/XXXX which was not showing to whom it was paid. Already all the taxes and insurance paid is listed. I did received the email from them receiving the complaint on XX/XX/XXXX The only response Till now I received a letter dated XX/XX/XXXX stating the matter has been referred to the XXXX XXXX , XXXX as owner trustee.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30340
Submitted Via: Web
Date Sent: 2020-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A