Date Received: 2020-05-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I signed a listing agreement with XXXX XXXX XXXX group on XX/XX/XXXX. FOR $ XXXX after a careful study of comparables on most recent sales in the area. XXXX XXXX XXXX XXXX XXXX thru XXXX XXXX XXXX XXXX conditionally pre-approved me for short sale for 120 days sale.Almost immediately offers were presented one with all cash full price and two more of 20 % downpayment with approved loan ready to fund. The buyers waited a minimum of 4 months for the bank to make their decision. To my disappointment, none of these offers were accepted by the bank. I was asked to list the property for $ XXXX which none of the comparables match this price. In XX/XX/XXXX the servicing of my mortgage was transferred to Shellpoint Mortgage Servicing. The bank pre-approved me a conditional approval to short sale on XX/XX/XXXX. On XX/XX/XXXX an offer of $ XXXX was submitted to the bank.The latest appraisal is below $ XXXX. To this time, the bank continously and abusively delay their decision to accept an offer. Meantime, I have sent them several hardship letters and communications regarding financial and emotional difficulties that me and my family have been through. Then, the Corona Virus Pandemic lockdown occurred. I got laid off from my job at the school. I am financially struggling to pay my bills and maintain the property.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 90019
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We applied for a forbearance with our mortgage lender due to the Covid pandemic and the complete shutdown of our business from XX/XX/2020 onward. The company ignored our request for many weeks until we filed a complaint with your office after which they finally granted us a forbearance. Here is the catch. They now say at the end of the forbearance we owe them all four payments at once or we are in default. That is insane. It is not a forbearance at all and it does absolutely nothing to help the situation. They are basically postponing 3 payments for the period then making them due immediately following at risk of foreclosure. A forbearance is supposed to mean a postponement in payments which are then due at the end of the loan so the three month grace period allows the borrower the time to recover from the massive losses we have incurred. This is unethical and probably illegal. We need you to help us end this ridiculous attempt to get us out of our house please. The forbearance period began in XXXX and covers the XXXX, XXXX and XXXX payments - which we are now told are all due along with the XXXX payment on XXXX XXXX. thank you
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 34119
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Complaint against NewRez LLC c/o Shellpoint Mortgage Servicing. As of XX/XX/XXXX the principal balance was {$23000.00} and the mortgage does not mature until XX/XX/XXXX. I made a payment of {$17000.00} which was posted as follows on XX/XX/XXXX : {$920.00} XXXX XXXX payment not late ), {$920.00} ( XXXX payment not due until XX/XX/XXXX ) and {$15000.00} to principal. I did not complain about the posting format. This left a principal balance of {$6200.00}. I received my XXXX statement which is for the same amount {$920.00}. This payment does not reflect the new principal balance. I was trying to reduce my payment. if the principal balance were calculated based on time left on mortgage the payment should be less. I have contacted the lender the only way they allow which is by e-mail to no avail.Documentation attached. E-mail string attached in two different formats. Text document and Outlook format.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 230XX
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Shell Point Mortgage placed us into forbearance without permission. We fought with them to remove our account as we didnt ask to be placed into forbearance and are current on our payments and have ordered them to remove us from forbearance assistance status. This has been a nightmare! We didnt ask for help, as they took this upon themselves to pace us in this category on their own. We have a letter stating that we are not in forbearance.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91710
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: To Whom It May Concern : I refinanced my mortgage with Shellpoint Mortgage last XXXX. There were issues with my payment being received and applied to my account when I signed up for the bi-weekly payment plan at the time of the refinance. Several months went by and we were able to get the payment schedule corrected and the payments started to draft bi-weekly from my checking account. On XX/XX/XXXX I received a call stating that my mortgage payment had not been received and a late fee had been applied to my account. Baffled, I explained to the customer service representative the same as I explained above. I was then given two excuses by two different representatives of what happened to my account. The first was that I contacted customer service and advised that I wanted to unauthorized Shellpoint from drafting my mortgage payment which is absolutely a fabrication. I then had to call back again and speak to another representative because of the rudeness, total disrespect, and condescending attitude towards me as I tried to rectify a problem that was of no fault of my own. The second representative that I spoke with told me that I had insufficient funds in my bank account and funds could not be drafted from my account. Again, an absolute fabrication of the truth. Furious by this time, I called my credit union to see what had happened with my mortgage payment. My credit union then advised me that Shellpoint did not attempt to withdraw the money from my account and that sufficient funds were available for withdrawal. I then called back to Shellpoint and notified a representative of what I had learned from my bank. I was then instructed to get a letter from my bank stating what I explained to you above. I then submitted the letter to Shellpoint and was advised that the problem would be resolved. I was also advised that I could dispute the information to the credit bureaus and it would be removed or deleted once Shellpoint receives the disputed information. I followed the recommendation of a Shellpoint representative and disputed the information. I was then notified by email from the credit bureaus that Shellpoint had updated the information. I went into my account to retrieve the results only to learn that Shellpoint had verified the information of the late payments to be valid. Since this debacle with Shellpoint, I have seen my credit score take a nearly 110+ pt decrease. I have a credit card with the XXXX XXXX that was credit line was reduced from {$11000.00} down to {$500.00}. This is happening right in the middle of home updates. This has caused me so much pain and suffering trying to work with Shellpoint over the last few months. Until Shellpoint totally dropped the ball on this, my credit has been outstanding because of the hard work and on-time payments to ALL of my accounts. I have emailed XXXX XXXX, the president of Shellpoint Mortgage, and my issue still hasn't been resolved. I continue to be assured that this is being resolved and it is not. I would believe it would be safe to say that I have had over 10-15 conversations and numerous emails with Shellpoint. Please assist me in getting this issue resolved. Thanks!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: SC
Zip: 29650
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I reapplied for mortgage repayment consideration and was rejected the day after they received the package. NO CONSIDERATION ... .They are trying to take my home!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 93030
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have an equity line of credit with a face amount of $ XXXX, which is presently in the repayment period with a current balance of {$100000.00}. On XX/XX/XXXX servicing was transferred from XXXX to Shellpoint Mortgage. Over the last 6 weeks I have called Shellpoin Mortgage customer service at least once a week, filed 2 complaints and sent a written request on XX/XX/20 to address the issue described below, and have not been able to resolve my concerns/issue. This ELOC is a variable rate loan priced at Prime + 2.5 %. The note specifies that the rate will be reset monthly ( in alignment with the billing cycle ) based on the WSJ prime rate in effect. The current effective rate reflected on-line and on monthly billing statements is 7.25 %. This would imply a current prime rate of 4.75 %. The WSJ Prime Rate is currently 3.25 % and has changed as follows : XXXX. 4.75 % XXXX. 4.25 % XXXX. 3.25 % Based on the above, the current effective rate on my loan should be 5.75 %. The effective rate should have changed in the XXXX billing cycle by at least .5 %, and possibly 1.5 % ( depending on the cutoff date for the billing cycle ) and should definitely have been reduced the full 1.5 % by this most recent cycle. Based on the current balance, this issue is resulting in an over accrual of approximately {$130.00} per month. I have lost confidence that Shellpoint Mortgage will resolve this issue without intervention by the CFPB.
Company Response: Company believes the complaint is the result of a misunderstanding
State: NC
Zip: 28117
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Ive been trying to pay my mortgage, but the bank will not accept payment First of all, Shellpoint is the 3rd bank working with my mortgage. Second and most important thing : We were notified from XXXX XXXX about the transfer to SHELLPOINT on XX/XX/XXXX. How could I send my payments to SHELLPOINT if I was not aware about the change before XX/XX/XXXX? See the timeline for my payments below : XX/XX/XXXX : Check was sent to XXXX XXXX XXXX ( deposited and I have the receipt ) XX/XX/XXXX : Check was sent to XXXX XXXX ( deposited and I have the receipt ) XX/XX/XXXX : Check was sent to XXXX XXXX ( lost in the mail ) XX/XX/XXXX : Check was sent to XXXX XXXX ( deposited and I have the receipt ) XX/XX/XXXX : Check was sent to XXXX XXXX ( RETURNED and I have the receipt with letter stating that account number can not be found ) XX/XX/XXXX : Before sending another check to XXXX XXXX, I sent them an e-mail, asking about the reason for the returned check XX/XX/XXXX : First time that I heard about the transfer from XXXX XXXX to SHELLPOINT STILL ON XX/XX/XXXX : I got the access to my online account with SHELLPOINT for the first time and tried to make an online payment, but unsuccessfully. STILL ON XXXX : I sent 3 months payments ( 3 different checks ) to SHELLPOINT MORTGAGE, they have received it but the checks were not deposited.. XX/XX/XXXX : Somebody locked the doors in my house and I couldnt get in. XX/XX/XXXX : I called Shellpoint telling them the whole situation and they are not letting me to make a payment. XX/XX/XXXX : I called Shellpoint to try and get a resolution and they confirmed that my house is going to forclosure and I will be liable for all the attorney fees. At this point they WILL NOT accept my payments and they have not cashed the checks I sent in XXXX to bring the account current. The property related to this mortgage ( XXXXXXXX XXXX XXXX XXXX ) is in a Vacation Community and there is NO MAIL BOX services.
Company Response:
State: FL
Zip: 34747
Submitted Via: Web
Date Sent: 2020-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-25
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Due to the pandemic and financial loss, on XX/XX/XXXX XXXX, I called Shell Point Mortgage @ XXXX XXXX XXXX XXXX XXXX XXXX and spoke with XXXX XXXX, I was approved for a Forbearance covering XXXX, XXXX and XXXX Payments ( XXXX ). On the same date, I received an email confirmation from XXXX XXXX acknowledging the Forbearance was approved and that I would receive a letter within 7 to 10 days. I have yet to receive the Forbearance Agreement. I emailed XXXX XXXX again on XX/XX/XXXX XXXX asking does Shell Point Mortgage send something in writing. XXXX XXXX advised me, the letter MIGHT HAVE went to my Bankruptcy Attorney and the check with them. I responded to XXXX XXXX and advised her my BK was over 7 years ago and why would Shell Point Mortgage send my Forbearance Agreement to the attorney I have not seen or utilized in the past 7 years. To release my Forbearance Agreement to anyone other than myself is a violation of my privacy information. I called Shell Point again on the same date XX/XX/XXXX at XXXX and spoke with a representative, XXXX XXXX , she informed my the only time information is sent to the Bankruptcy Attorney is when there is an active Bankruptcy in play and XXXX incorrectly spoke regarding my Forbearance. XXXX further explained the conditions of the Forbearance assuring me each payment would be moved to the end of the mortgage and come XXXX XXXX the mortgage would be current. She did request I set up payments for the escrow portion {$480.00} to avoid an escrow shortage. I set up payments to draft my account on XX/XX/XXXX and XX/XX/XXXX. XXXX also advised me she had no idea as to why the Forbearance was not mailed out to me. She told me she would have it emailed to me or mailed again. Here are my issues 1. I have never been able to make payments online via the website, it states my loan does not qualify. What does this mean? During a pandemic I should have the means to make a payment or at least view my account online versus holding on the telephone for in excess of 30 minutes to reach a representative of Shell Point Mortgage 2. I am unable to access my account at all, using the Shell Point link, https : //www.shellpointmtg.com/mortgage-help the screen continues to flicker. 3. I am entitled to receive the Forbearance Agreement. To date I have not received the information. Dealing with the Pandemic and financial loss is stressful and scary and Shell Point Mortgage has only added to my fears and anxiety because I NEED to ENSURE my home is protected for the sake of my family. I am coming to Consumer affairs for the 3rd time to ensure all of my issues are addressed in the response from Shell Point Mortgage. I DO NOT TRUST this loan servicer based on negative experiences since my loan was serviced released to them. When will someone step in and take action against this loan servicer, there are so many complaints against them.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32218
Submitted Via: Web
Date Sent: 2020-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Shellpoint Mortgage is clearly trying to defraud me out of money. We had our mortgage through XXXX XXXX. They sold our mortgage to ShellPoint. We have a fixed rate, and our principal/interest payment has always been XXXX per month. We have since escrowed our homeowner 's insurance, which should be XXXX per month. Shellpoint has taken this opportunity to steal money from us. Our mortgage should be XXXX and that is what it was when we had an escrowed homeowner 's insurance through XXXX XXXX. We called our homeowner 's insurance company and they verified for us that our annual payment is XXXX. Divide that number by XXXX, and you get XXXX. Simple math ... Shellpoint is literally stealing from us. I want to file criminal charges against them. How can I do this?
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32708
Submitted Via: Web
Date Sent: 2020-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A