Date Received: 2020-01-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My 7/1 adjustable rate mortgage was transferred to NewRez Mortgage XX/XX/XXXX. The previous service provided adjusted my rate for the first time on XX/XX/XXXX up .75 % to to 4.5 % based on the original loan terms. The previous provider based their adjustments on the LIBOR index. I have called NewRez several times to understand how future rate adjustments could occur. Most mortgage market indexes have trended downward, NewRez has not responded to my inquir y on 1. how rate adjustments occur? 2. what is the current state of adjustable rate mortgage? 3. how can I initiate a rate adjustment to lower my interest rate? 4. what in dex does NewRez base it 7/1 Arms? Please advise. Sincerely, XXXX XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 201XX
Submitted Via: Web
Date Sent: 2020-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I notified Shellpoint Mortgage that the borrower XXXX XXXX had passed away and that I was a Successor in Interest in the property. Despite being notified the lender, Shellpoint Mortgage sold the property at foreclosure auction. The property was reverted back to the lender on XX/XX/20. This is a violation of the Basic Rights Under California 's Successor in Interest Law as well as CFPB Rules and the Garn-St. Germain Depository Institutions Act of 1982. This is a violation of all the law and according to the title company who informed me that they can not issue title insurance on the property this also provides grounds for a case of Elder Abuse against the lender which is actionable on behalf of the borrower/victim on behalf of her estate.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92008
Submitted Via: Web
Date Sent: 2020-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX, NewRez LLC dba Shellpoint Mortgage Servicing took over my mortgage from XXXX. XXXX told me to continue to pay them, that Shellpoint was name only. This was incorrect. When I tried to pay XXXX my payment in XXXX it bounced back to me. I immediately called Shellpoint and they told me that I should be paying them. They explained that is takes time for information to go from one company to the other. I paid this payment on XX/XX/XXXX and then paid my XXXX payment on XX/XX/XXXX. Two days ago I received a letter in the mail from Shellpoint Loss Mitigation office as an Intent to Foreclose on my house. I called them immediately and they said they never received these two payments and they charged me a foreclosure process fee of {$350.00}. I sent my bank statements to show them that these payments were in fact paid, they said I still owe {$350.00}. I don't understand how I owe this and how they can begin foreclosure proceedings. Their customer service is horrible, I am seriously afraid of what could happen as they seem to do what they want. I have called everyday waited on hold for 40 minutes or more, requested call backs that I never received. Last night I received a call from them, the number came up on my phone as Telemarketer. This was very disturbing for me. Before XXXX sold my loan, I had a surplus in my Escrow account for approximately {$5000.00} which they said would come to me. I have not seen this and Shellpoint claims to know nothing about it. I have just recently been discharged from a 5 year bankruptcy. I have worked hard to try and rebuild my credit, this company is making things impossible. I don't know what to do at this point. Please help. Thank you, XXXX XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 21122
Submitted Via: Web
Date Sent: 2020-02-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-30
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: my mom took out loan against house to pay bills ( XXXX ), she passed away in XXXX, never missed or was late with payment, house quick deed to XXXX sons XXXX daughters, XXXX mortgage company ( XXXX ) which has since filed bamkrupcy and sold mortgae raised monthly payment from XXXX to XXXX, made some payments for that amount then my girlfriend got XXXX had to miss alot of work, tried several times to work out something, XXXX dragged it out till XX/XX/XXXX even agreeing to modification in XX/XX/XXXX, i made 3 payments of agreement all on time, XXXX XXXX XXXX, after payments recieved XXXX negated loan agreement and wanted payments of XXXX per month, tried several times to resolve with them, then sold mortgage to shellpoint XX/XX/XXXX, shellpoint will not work with me or give me any information scheduled foreclosure sale XX/XX/XXXX, i have no way to defend, can i get any help?
Company Response: Company believes the complaint is the result of a misunderstanding
State: MI
Zip: 48091
Submitted Via: Web
Date Sent: 2020-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-30
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My home is scheduled for foreclosure XX/XX/XXXX with fraudulent robo signed assignments. The loan was allegedly placed in a XXXX XXXX XXXX XXXX XXXX 2018 XXXX. This trust was created for the purpose of foreclosure only. The loan was toxic from conception. I mailed a qualified written request and also ask for proof of claim and neither were responded to.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 305XX
Submitted Via: Web
Date Sent: 2020-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-30
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I purchased my home XX/XX/1999 for {$58000.00} and my monthly payments were between $ 600- {$800.00}. At that time it wasn't explained to me the type of mortgage I had. Since then, I have been switched to 5 different mortgage companies without my consent. My current mortgage company is with Shellpoint Mortgage Company and my current balance is {$150000.00}. My current mortgage payment is {$1700.00} monthly. My mortgage term is 564 months which is 47 years! I was not aware of the mortgage terms until today. It was never fully disclosed to me what my interest rates were/are or the term of my mortgage. I feel I am a victim of predatory mortgage lending. I make my monthly payments and the balance never goes down. My monthly payments go up almost every month. I am in fear of losing my home because the payments are too high and my balance is not changing.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 19151
Submitted Via: Web
Date Sent: 2020-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-29
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: This mortgage was paid off on XXXX XXXX by XXXX XXXX XXXX XXXX thru Escrow company XXXX XXXX XXXX XXXX. Since I was selling this house everyone wanted it to close fast. Someone did not update the demand for payoff of the loan and instead of paying {$580000.00} actual mortgage payoff, the title company wired {$590000.00} ( Im using rounded numbers ) so this created an overage that was due me out of my equity proceeds. There was an overage which was sent back to an ach number that had nothing to do with the loan payoff. Rather than send it back to the title company SHELLPOINT sent it to a contractor who was working on my house and we had an arrangement. I paid him already out of my escrow proceeds the money due him and this money was supposed to come back to me. Its mine. I do now wish to deal with Mr. XXXX XXXX the contractor anymore because he has threatened me many times and Im afraid for my life. SHELLPOINT mistakenly sent the money back to him because he was making the payments because of our business arrangement. The money was supposed to come back to me the only listed person on title. We signed a release and I sent him the remaining money he was due. Im XXXX years old and he used my house to make money and threatened me when I started acting up. SHELLPOINT said they were looking into it last Thursday then I called today and they had NO record of anyone looking into my concern. They gave me the ACH numbers which match up to the contractors Routing and account number. The contractor has not sent the money back to me and SHELLPOINT is saying so far they are looking into it but noone calls me back! They claim they sent it back to the last ACH number they had in their file and that would have been the contractor because he made the last payment to them ... but I already settled up with him on this payment. I am afraid to contact the contractor. SHELLPOINT should have never wired to an account when they didnt know who owned the account. SHELLPOINT was very rude to me. I am left without {$5100.00} I was due and as a senior citizen recovering from XXXX I have limited resources now after this sham contractor used me. SHELLPOINT needs to get the money back from XXXX XXXX ACH XXXX XXXX and deliver it to the right owner on title, me. Mr. XXXX is not on title to my home and never has been. He tried to get me to sign over the grant deed and I refused. The property address was XXXX XXXX XXXX, XXXX XXXX XXXX, Ca XXXX - my sold house. Thank you please help me. Sincerely, XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92679
Submitted Via: Web
Date Sent: 2020-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Company response is not viewable! XXXX XXXX, the responder to the first complaint, does not and has not responded to the 5 voicemails I left, nor emails. I verified she was in the office but is not responsive. This is a problem since the CFPB response that I was able to view ( once ) indicated to contact XXXX XXXX directly. I am now not even able to access her response due to the website not working properly.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-29
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: After a 30 day late payment last XXXX, Shellpoint Loan Servicing continually updates the loan balance incorrectly. I have disputed the incorrect balance with the mortgage company, and with all 3 credit bureaus.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MN
Zip: 559XX
Submitted Via: Web
Date Sent: 2020-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My loan in XXXX on my condo is being serviced by NewRez, who purchased the note from my previous lender. 1. They sent a letter to me that arrived XX/XX/XXXX that states that they informed me by letter 45 days prior that there was an issue with my flood insurance and gave me until the XXXX. There was no prior letter, and since they acquired the asset as of XX/XX/XXXX they of course would not be sending me a letter before they were the lender. So I am left in the position of being under unreasonable duress to fulfill their insurance requirements. 2. They claim, on one hand that they do not have a copy of my flood insurance, and on the other that the amount allocated to my unit is not sufficient. How would they know if they don't have a copy of my homeowners? Furthermore, they plan to increase coverage from what is currently in place by 25 %. 3. When i submitted a copy of the coverage, which is from XXXX, they did simple math and decided that the {>= $1,000,000} of coverage for " Replacment Cost '' divided by 191 units yielded only XXXX/unit and therefore my unit was deficient from the {$170000.00} they require. The calculation by the lender is completely arbitrary and does not reflect how insurance deals with claims. Firstly, my unit is one of the larger units in the building. The insurer would not allocate the total coverage generally governed by the unit count, but it would be based on unit size. Total replacement cost is also a judgement the insurer made, in its sole judgemenet, as to the reasonable replacement cost. XXXX is a reputable company, and to resort to some arbitrary method, which yields 25 % difference in coverage, is for the benefit of the lender and to the unfair detriment of the borrower. This is not a fair lending practice, and should be investigated as it may be common practice by New Rez as a loan servicer.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 105XX
Submitted Via: Web
Date Sent: 2020-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A