Date Received: 2019-12-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XXXX XX/XX/2019 I sent XXXX XXXX a formal request in writing via their online portal to have the FHA MI removed from the loan as it had reached below the 78 % LTV ratio. It's 50 days later and I have only received 1 update regarding the removal of the MI stating that more time was needed to review the file - this letter was dated XX/XX/2019. I have called XXXX XXXX almost daily for the past several weeks and I'm unable to get an update on the removal. The response I get is " it's still under review ''. I have tried several times to resolve the issue with XXXX XXXX but they will not assist me. Not only that, they continue to disburse MI premiums at my expense. I am attaching a copy of the request that I sent in on XX/XX/2019 for your reference. I am also attaching prior communication from XXXX XXXX earlier in the year in which they mishandled my account and provided incorrect information regarding the ability to have the FHA MI removed. I believe XXXX Point may be in violation of the Homeowners Protection Act for not auto-cancelling the MI and may also be in violation of CFPB requirements for communication to me as the borrower.
Company Response:
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-12-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-20
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I recently completed a refinance and the former company, Shellpoint Mortgage Servicing, has not returned my escrow balance for property taxes in the amount of {$8500.00}. Every time I call the Shellpoint customer service they state that they will not return my money because they sent it to the county via XXXX Batch number XXXX. They should not have sent it in the first place because their loan was paid off and they were required to RETURN the escrow balance to me, the CONSUMER. The County of XXXX TAX COLLECTOR states that they have balanced ALL of the batches and they Never recieved the funds from Shellpoint for my account. I called Shellpoint again today and they are now saying that XXXX is returning it to them but they will not refund me. They say I HAVE TO WAIT for their mistake!!! I am a single mother and that money is a substantial amount of money that I desperately NEED. Shellpoint is just playing games and they MUST return my finds but they are not cooperating. Will you Please help me? They are preying on a defenseless consumer and it is completely vile!!
Company Response:
State: CA
Zip: 949XX
Submitted Via: Web
Date Sent: 2019-12-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-19
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: On XX/XX/2019, I called to initiate a 3 month repayment plan that included the XXXX payment, that would be added into the XXXX, XXXX, and XXXX payment. I spoke with multiple reps and Supervisor 's over the course of a couple weeks to get clarification and adjust payment dates. Each time I spoke with a rep. I asked about negative remarks on my credit reports, and they all stated that their would be no remarks left on my credit report if the instructions of the repayment plan were completed correctly and timely. A complaint was sent to CFPB about the aforementioned issue because I was reported incorrectly for XXXX. The company responded and stated in the attached document, that they did in fact report XXXX to the credit bureaus in error, but found that they did report correctly for XXXX. Attached you will find the response from the mortgage company. My complaint is that the XXXX negative remark is a error as well. The repayment plan was cancelled and restarted, and was to include the XXXX payment, which according to the repayment plan, the XXXX payment had to be received by XX/XX/XXXX to avoid negative reporting. A payment was made on XX/XX/2019 for {$2000.00} which was the initial down payment and the requirement needed to avoid negative reporting for XXXX. This was all advised by the Supervisor I spoke with on XX/XX/2019. She stated that if I made the down payment and returned the documents, negative remarks will not be made. I clarified 3 times before ending the call. The original repayment plan was altered but still included XXXX. The Repayment Plan document states " As of XX/XX/2019 the total past due amount is {$4000.00}. This amount includes all past due payments of interest, principal, and escrow .... Your past due amount is now part of your new total monthly payment amount listed in the repayment plan terms section below. '' It states later on the document ; " The initial payment of {$2000.00} must be received in our office on or before XX/XX/2019. '' Therefore, I should have been protected from any negative reporting for XXXX and XXXX because the repayment plan terms clearly outline that all past due amounts are included and it also includes the down payment date and amount which received on XX/XX/2019. This has now happened 4 times, and twice the company has acknowledged they made a mistake, this complaint and a complaint from XX/XX/2019, which has been sent to CFPB separately, should be investigated and corrected on my credit reports.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 60644
Submitted Via: Web
Date Sent: 2019-12-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I purchased a new construction, single family home in XX/XX/2018 from a developer in XXXX. That developer bought a parcel of land and built three single family homes on the lot but didn't submit an application to divide the parcel to XXXX County at closing. Before the parcels were divided I received a tax bill for all three ( 3 ) of the single family homes the developer built on the parcel ( ~ {$62000.00} ). I immediately called and emailed my mortgage servicing company, Shellpoint Mortgage Servicing, and informed them of the error, as well as explicitly informed them not to pay the taxes. This was about a month before the taxes were due so they had plenty of time to amend any automated systems. Nonetheless, they paid the tax bill so my tax escrow shows a negative ~ {$43000.00} balance. I realize this is a paper error ; however, I am attempting to refinance my home to what are now historically low interest rates that will save me more than {$50000.00} over the life of the loan. But I can't get a clean payoff statement that reflects what I truly owe. I've made probably 40 phone calls and sent ten emails to the Shellpoint team that are always met with confusion, misunderstanding, misdirecting and generally useless customer support. This issue has been outstanding for close to five months and I've had to give up one rate lock already then pay money to lock again and keep my new rate. I've found maybe one or two customer support reps that were helpful and genuinely tried to fix my issue. The balance were rude and just trying to get me off the phone. Time and time again they implore me it's been escalated or that a manager will call but that never happens. I've tried kind approaches and I've tried to be stern but nothing seems to work. I feel like they don't care and aren't doing anything to amend their error. Just today I called the County to see if they've filed a refund but nothing has happened. I feel helpless and this mistake is costing me real money, as well as distracting me from my work and family. Please help!
Company Response: Company believes complaint is the result of an isolated error
State: IL
Zip: 60647
Submitted Via: Web
Date Sent: 2019-12-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our home burned down in XX/XX/2018. The insurance funds went to our then mortgage company which paid them out as work was completed. We had to fire our old contractor and the new contractor has practically finished the house. Meanwhile, our loan was sold and transferred to Shellpoint mortgage. Shellpoint now holds over {$37000.00} which they will not release. They say they need several documents from the new builder which he submitted several times. The mortgage company claims to have never received the documents and keeps adding new requirements. ( Moving the goal post ). We have had two recent inspections of the progress of the build, with the chosen inspector of the mortgage company, ordered by the mortgage company. Two ... because the first apparently either wasn't ever filed or was lost. The mortgage company said they couldn't find it either way. It is like trying to get blood from a stone and their left hand never seems to know what the right is doing. Also, since we have been unable to access funds to finish, my wife and I have had to indebt ourselves with high interest lines of credit to get to where we are now. We have paid over {$70000.00} to the new builder from credit cards, personal lines of credit and cash. Our agreed upon amount with the new builder has been paid almost in full but there are extras we need to pay for to get occupancy in order to refinance our way out of this nightmare. Our cash savings have been depleted and we now owe over {$50000.00} to creditors. We are struggling to make those payments along with not only our primary mortgage payments but also {$1200.00} a month for the rental we are staying in until we are back in our home. All the while, our bank ( mortgage company ) clings to {$37000.00} of the funds our insurance company paid to fix our home. Of course, we paid all the premiums. Our home is valued at over {$400000.00} of which the mortgage company holds an interest of only just over {$160000.00}. The balance of equity is ours. Although the home is over 95 % complete, the mortgage company won't release the funds. As our new builder has been paid almost the entirety of the contractual agreement by my wife and myself, I want the remainder of the insurance money the mortgage company holds, released, along with interest they have earned by holding it since XX/XX/2018. When our home is complete, we can refinance it and pay off the high interest lines of credit. We need to get back in our home. We are very close to completion. The funds from the mortgage company will get us over the top. Thank you!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OK
Zip: 73008
Submitted Via: Web
Date Sent: 2019-12-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-19
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: The purpose of this email is to inquire about a decision that was communicated to me by the servicer of my mortgage loan. My husband and I fell upon a temporary hardship and sought the assistance of Shellpoint MTG. We were mailed information about a Modification. Our hardship was temporary however impacted our lives financially causing the mortgage to fall behind. After submitting all the necessary documents we were advised by our single point of contact : XXXX XXXX that underwriting would review and make a decision within 10-14 days. On Wednesday XX/XX/18 I received a phone call from the POC and was advised that the modification was denied. Reason : The investor ( XXXX XXXX XXXX XXXX ) does not accept Modifications. She indicated the decision was not up to shellpoint MTG but up to XXXX XXXX XXXX XXXX. In doing my research I obtained your information to contact the bank and speak to someone about the determination, only to hear a recording that indicates the investor has nothing to do with the decision to modify the loan and that the decision was up to the servicer. There seems to be a miscommunication or lack of understanding and I would like nothing more than to resolve this matter. Please review and assist. Mortgage Servicer : SHELLPOINT MTG Loan # XXXX Property Address : XXXX XXXX XXXX, XXXX NJ XXXX Point of Contact : XXXX XXXX : XXXX Mortgage : XXXX XXXX Deed : XXXX XXXX / XXXX XXXX The property is occupied by my husband & I and our kids
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07111
Submitted Via: Web
Date Sent: 2019-12-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We had a short sale contract we presented Shellpoint mortgage company during which time they transferred our loan to XXXX XXXX without our knowledge until a week before our foreclosure date. Shellpoint sent our home to foreclosure and XXXX XXXX would not help us remedy the situation even with a short sale contract.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75025
Submitted Via: Web
Date Sent: 2019-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: my name is XXXX XXXX and I am currently a mortgagor and my loan is being serviced by shell point mortgage AKA New Rez my loan number is XXXX This brief letter is to explain the horrible customer service and lack of service I receive when calling this company about anything! I recently underwent XXXX XXXX on XX/XX/19 and was out of work for four months I called them to see if there was any way a payment could be deferred to help me out until I went back to work well guess what they said no so I went back to the drawing board getting a bit of assistance from charitable organizations to help me make a payment back in XXXX they lost they payment that was sent to them by city of XXXX on my behalf took a month for them to find it and that was after a complaint online to their corporate and several phone calls these people are horrible servicers who take their jobs for granted and do not go above and beyond in fact they do the very minimum well fast forward I've been back at work two weeks today XX/XX/19 and last month which was XXXX I asked for a repayment plan on {$300.00} of {$1100.00} because I didn't have the entire payment well these people don't offer you any options they don't care if you're being proactive it's like they want you to lose your home during the phone call he explained that it was the XXXX of the month and they need at least 7-10 business days to process the repayment plan so my credit may still be impacted so I declined and borrowed the money for the month of XXXX so I called them today XX/XX/XXXX to see if I could not do a repayment plan well not only was the girl not informative she was rude and basically stated that it takes 10 days to get paper work and another ten to process the repayment plan what in the heck is going on with this company each time I try to be proactive it's like I get shot down almost as if they do their best to work against you I've called several times about the PMI on my loan and basically get told because I have an FHA it cant be removed and they don't give any information to support that because I know a couple people who have an FHA loan and have had their PMI removed what kind of company is this where they don't explain things they lose your payments talk to you rude cold transfer you to voicemails without telling you and the managers don't hold them accountable their just as bad how did I get involved with the mortgage company from XXXX their mortgage practices need to be investigated this is not fair that hard working people have to call in and be subject to this foolishness when all we want is respect and answers about my PMI answers as to why they are not rules and turn around times connected to repayment plans and things that matter do they just make this stuff up as they go along is that really what is going on please help
Company Response:
State: FL
Zip: 322XX
Submitted Via: Web
Date Sent: 2019-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX I was informed by US mail, that from XXXX XXXX XXXX XXXX XXXX, Az XXXX of a " Notice of Servicing Transfer '' effective with payment due XX/XX/XXXX. NewRez LLC would collect payment going forward. contact information provided was NewRez LLC Customer Service XXXX XXXX XXXX XXXX, SC XXXX On XX/XX/XXXX, I was informed that I had successfully secured an online account to pay the XXXX mortgage with NewRez. This email informed me that the Customer Service Team was available at XXXX or XXXX. I could not access the payment account after setup to pay the XXXX payment, so I contacted their provided number by telephone call. I informed them that I was the estate executive/Successor Trustee for the property/loan and was attempting to make a payment, but was locked out. I was furthered informed that because of privacy, I would need to forward copies of Certificate of Death/Revocable Living Trust documents to NewRez. I was provided a contact receipt via email on XX/XX/XXXX. Followup phone calls informed me that Shellpoint Mortgage Servicing was confirmed as the actual responsible party for the XXXX transfer, ( NewRez LLC owns the lien but Shellpoint Mortgage Servicing ) would need the document as well, to assist me with payments. As of today, XX/XX/XXXX, I have not received a response in any way, or the promised followup to assist me as the property owner to continue to make payments/provide whatever maybe requested as the heir/executive/trustee from either NewRez/or Shellpoint Mortgage Servicing. The property has never been delinquent on a loan payment since it was purchased in XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 922XX
Submitted Via: Web
Date Sent: 2019-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: TO WHOM IT MAY CONCERN, My mortgage has been bought and sold two times in the past three months. I received no notification other than an email from the purchaser each time. These emails went to my spam folder and I searched for any mortgage related information because I noticed that my automatic mortgage payment had not processed. In all cases, I set up automatic payments with the mortgage servicing company in good faith. In all cases I expect that my payments will be processed until I ( the consumer ) have been properly notified and onboarded to the new service company. This has not been the case. Neither time that my mortgage was sold was I notified appropriately. By this I mean I must receive notification in writing from the current owning institution that the mortgage has been sold, and I must receive notification in writing from the new mortgage owner with instructions regarding what I need to do to set up my payments. Then after I have been onboarded to the new service company, and only then, must my automatic payment be discontinued with the original company, e.g. the one selling the mortgage instrument. The discontinuation must only take place after the new mortgage payment arrangements with the new mortgage company have been established and verified, and I provide an acknowledgement to the selling institution that I wish to discontinue my payment arrangement with them. Current Situation and Historical Facts in This Matter : The original service company for my mortgage is " XXXX XXXX XXXX '' ( XXXX ). XXXX ; XXXX ; XXXX XXXX XXXX XXXX XXXX, NJ XXXX I set up automatic payments with the XXXX institution when I bought my home in XX/XX/2019. On or about XX/XX/2019, XXXX sold my mortgage to Shellpoint Mortgage Servicing ( SMS ). Shellpoint Mortgage Servicing XXXX XXXX XXXX XXXX XXXX XXXX, SC XXXX XXXX or call us at XXXX http : //www.shellpointmtg.com/ I received no written notification of this new arrangement either from XXXX or SMS. The only communique was an email that I came across by chance from Shellpoint. I contacted Shellpoint, was informed they had acquired the mortgage, and set up automated payments with Shellpoint. Payment was established XX/XX/2019. On or about XX/XX/2019, SMS sold my mortgage to XXXX. XXXX Mail code XXXX XXXX XXXX XXXX XXXX, LA XXXX XXXX Based on conversations with XXXX I have learned that SMS is under the misconception that I am " two mortgage payments behind. '' SMS discontinued my automatic payments ; I have bank statements detailing this fact. SMS is negligent in so doing because : 1 ) SMS canceled my payments without alerting me ; 2 ) SMS canceled my payment without my consent ; 3 ) SMS subsequently alleges that I am behind on my mortgage payment ( s ) to them, but this condition was created by SMS ' own action ; 4 ) SMS, if they reported this to credit bureaus, is intentionally harming me. Any rational thinker would suppose that some part of SMS ' fiduciary system is broken. SMS claim is patently absurd. SMS can not cancel my automated payment, and then claim that I have not paid. To reiterate, the reality of the situation is that SMS is negligent ; 1 ) By canceling my automated payments without my knowledge or consent ; 2 ) By then reporting to the credit agencies that I am the responsible party and to blame for the late payments. Based on deduction, it is clear to me that SMS does not have a firm grasp of their own internal processes. I suggest that at the very least a team of SOC1 Statement on Standards for Attestation Engagements ( SSAE ) 18 auditors should be dispatched to examine the SMS process and procedure to uncover the flaws that clearly exist. The most likely cause of this scenario is most likely something very similar to this scenario : 1 ) SMS is drawing funds from my bank to service my mortgage ; 2 ) SMS initiates a process by which my mortgage is bundled for sale ; 3 ) SMS discontinues my automated payments ; 3 ) SMS completes the sale of mortgages to XXXX ; 4 ) SMS does not verify with me that I am aware of and prepared for this new development ; 5 ) SMS realizes that the sale of mortgages comes after payment is due, therefore SMS needs to receive payment ; 6 ) since the SMS payment automation no longer works, and I the so-called responsible party have no knowledge of the internal activities of SMS, my payment is not forthcoming because to my knowledge I am enrolled in an automated payment process for the mortgage ; 7 ) SMS reports me to the credit agencies. This is outrageous. Such willfully negligent behavior by SMS must first be uncovered by SOC1 auditing, then once uncovered, this negligence must be addressed via sanctions or harsher actions in order that this atrocious behavior is publicized and summarily discontinued. Finally, SMS must repair their internal systems based on the SOC1 SSAE 18 report, so such unfortunate situations do not arise in the future. Again, I have never received any form of communication from SMS regarding these developments. SMS did not verify that I was aware of the developments with my mortgage. Nor did SMS go to any lengths to ensure my safety or wellbeing throughout any of the process. SMS by all indications is only looking out for SMS. Therefore, SMS has failed in its fiduciary duty to me as the servicer of my mortgage, and the failure is due entirely to SMS negligence. To recap, I have received no written notification of this new arrangement either from SMS or XXXX. The only communique was an email that I came across by chance from XXXX. I have contacted XXXX to gather information and set up automatic payments with them. Hence, in addition to my obligation to set up yet another automatic payment scheme, this time with XXXX, I am in the unfortunate situation of disabusing SMS of the notion that " I am behind '' in my payments. In fact, SMS is willfully negligent, and is the direct cause of this situation because they have failed in their duty to process my automatic payments. Apparently, SMS, and XXXX, believe that they have no obligation to me to process my payments when they have washed their hands of the mortgage. Nothing could be further from the truth, because when these " mortgage servicing companies '' fail to pay as per our arrangement, without verifying with me that payment new payment methods are in place, then I, the consumer, am imperiled. This situation is unacceptable. Clearly something is wrong with this process, as the consumer is the last to know that the mortgage arrangement has changed. It is incomprehensible that the consumer, the individual most vulnerable and susceptible to damage, is left out of the process completely. The consumer is left out that is until it is time to pay the piper. Then the consumer is expected to heave ho and produce. This " responsibility '' so conceived exists weather or not the consumer has been informed or has enough knowledge to pay whichever servicing company is now the " owner '' of the loan. Therefore, it must be mandatory that these servicing companies contact the consumer and verify that consumer is aware of the developments regarding such an important credit instrument. The consumer must be made aware of developments regarding the consumer 's important loan. This contact must be established and verified before the new servicing company takes the lead on servicing any loan. The consumer must have awareness of the situation and this understanding must be verified by the two service companies involved. This has not been the case, for me, and as a result, according to XXXX, SMS now claims that I am two payments behind on [ my ] mortgage. This although I have previously established automatic payments with SMS. Therefore, SMS is negligent in its obligation to me ( the consumer ) to service my loan. The same situation occurred in the case of the transfer from XXXX to SMS. XXXX did not process my automatic payment, and as a result it was suggested I was late in paying the new owner, SMS. Actually, XXXX is negligent in its obligation to me ( the consumer ) in servicing my loan. Where are my interests, and the interests of the consumer in all this high-flying finance? Clearly my interests, and the interests of the consumer, are unimportant, subjugated, irrelevant ; the consumer does not even come into the equation on his/her loan except as a footnote after the fact. Clearly, somebody must pay for all this ; that falls on me the consumer. At this juncture, XX/XX/2019, I am in the unenviable position of needing to advocate for myself with the SMS the manifest unfairness of these developments. I am now situated such that I must converse with SMS regarding notions of " fair play, '' in lending practices and in the buying and selling of mortgage instruments. This is the crux of the issue then, to me a mortgage represents my home, something acquired with great personal sacrifice, and a safe happy family. To the bank a mortgage is a financial tool. To the bank a mortgage is an impersonal device, an appliance crafted to derive profit. This entire exercize is a needless waste of time and effort, as it is due entirely to the negligence of the mortgage servicing companies. At this point it is clear who suffers the damages. It is not the large institutions. In fact, it is the " small player, '' the consumer who bears the brunt of this outrage. Respectfully, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MD XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 21401
Submitted Via: Web
Date Sent: 2019-12-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A