Date Received: 2017-09-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have been having chronic issues with my mortgage company for the past 4 years or so. Their name is New Penn Financial, based in XXXX, Pa. Occasionally I will send them extra monies with my monthly mortgage payment to be applied to the principal. Sometimes they apply this money to my next months payment. This is both against the law and their own company policy. I feel that they do not want me to pay off my mortgage early. I have complained in the past and have been told that it would not happen again. So far, it has happened more than 5 times. I feel very frustrated and hope you can help me.
Company Response: Company believes complaint is the result of an isolated error
State: WI
Zip: 53207
Submitted Via: Web
Date Sent: 2017-09-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Shellpoint has been servicing my mortgage for approximately the last two years. They have repeatedly made mistakes with the escrow payments. This is the most serious. 1 ) They informed me that the earthquake insurance policy was paid in XXXX or XXXX. 2 ) I found out it was not. They had never sent a check. 3 ) XX/XX/XXXX : They sent a check to pay the insurance premium. To the wrong address. 4 ) Week of XX/XX/XXXX : After being informed that my insurance company had not received any money, they claimed it was still in the mail and I should just wait. I told them that was not acceptable as the policy was going to be cancelled if payment was not received. At this point, I found out they had sent it to the wrong address. 5 ) They promised me they would overnight a payment to the correct address on XX/XX/XXXX. The tracking number indicates that they provided indicates that they have not done so. Now they are saying they are still waiting for the check to be approved and the earliest it will go out will be XX/XX/XXXX. My insurance policy will be cancelled on XX/XX/XXXX. They have fraudulently collected money from me to pay for an insurance policy that they have not paid. The latest emails they sent me are attached.
Company Response: Company believes complaint is the result of an isolated error
State: CA
Zip: 95492
Submitted Via: Web
Date Sent: 2017-09-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-31
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XX/XX/XXXX Im writing today over concerns Ive had with Shellpoint who is the servicer of the property I own at XXXX XXXX XXXX, XXXX Massachusetts. This property has been in foreclosure and a sale was stopped in order for a loss mitigation review ( Short Sale ) XX/XX/XXXX this year, a short sale package was sent to Shellpoint for review. On XX/XX/XXXX we were told the auction would be postponed until XXXX to try to review the short sale package. At this point we were very satisfied. On XXXX we spoke to XXXX in Loss Mitigation at Shellpoint and were told Shellpoint needed to NET {$45000.00}. At this point we went back to the buyer and countered to get Shellpoint that amount. The buyer agreed to increase his offer to net that amount to Shellpoint. On XXXX we escalated a title issue to Shellpoint which we never heard back from. The estates show a multitude of predeceased children and how all their heirs conveyed their interest to the property. Somewhere there is a title policy tied to the XXXX XXXX and there is an attorney-agent already that has issued a policy. To date NO ONE from Shellpoint has responded about this issue. We submitted an increased offer of {$52000.00} to Shellpoint with a HUD and this was able to NET Shellpoint the {$45000.00}. We waited. On XXXX We spoke to XXXX XXXX who said SHELLPOINT MADE A MISTAKE AND THE COUNTER OFFER WAS {$75000.00}. That is quite a costly mistake. We had asked if an interior valuation was ordered as the house is in shambles. The foundation is sinking and cracked. It needs thousands of dollars of renovations. We were told it was not and we escalated again. On XXXX we sent an email to XXXX XXXX, XXXX XXXX, XXXX XXXX and Escalations regarding this crazy counter offer. Not one person got back to us. We followed up again on XXXX and nothing. In the meantime we were calling into Shellpoint as well, and then sent a third email on XXXX. On XXXX we received the Exterior appraisal and a letter from XXXX XXXX at Shellpoint, letting us know the investor of the loan, and stating that they needed to NET {$75000.00}, and it didnt matter what the assessment ( {$37000.00} ) came in at for the property. He included the assessment which I have a copy of. On XXXX we spoke to XXXX XXXX who said that Shellpoint would now order an interior appraisal. This gave us some hope, but it was also very confusing. If the exterior report came in at {$37000.00} and the counter offer was {$75000.00} NET then what would happen when an interior valuation was done? It would surely be less money, and maybe they would finally review my house for what the value truly was. On XXXX we reached out to XXXX again to ask WHY an exterior assessment would be countered SO HIGH if that wasnt what the value truly was. We did not hear back from her. On XXXX we were sent the INTERIOR appraisal. This showed the property was worth {$38000.00}. In XXXX the file was submitted to the investor for approval. We thought this was good news. We had to get a new proof of funds from the buyer, but that was the only hold up. OnXX/XX/XXXX and XXXX we followed up with XXXX to see where the file was at. On XXXX XXXX indicated the value had been sent to their client for review. My understanding of this is it went to XXXX XXXX, XXXX for them to look at based on the above. We called in weekly and finally on XXXX had an update that the INVESTOR countered at {$80000.00}. This makes zero sense. Why would the counter be {$4000.00} more? Yes the interior was {$1000.00} higher, but not {$4000.00}. I do not know the workings of XXXX XXXX, which I understand owns XXXX XXXX, XXXX, but do they actually review their investments? In what world would something with two independent valuations stating the property worth UNDER {$40000.00} be countered double the amount? How does this help their investors? If this property were to foreclose, it would be a complete loss. They could never put it on the market to get {$80000.00} unless they were going to put thousands into it. On XXXX we reached out to XXXX XXXX, and didnt have a response. We called XXXX XXXX and left a message. We also reached out to XXXX at Shellpoint and XXXX XXXX on XXXX no one responded. We reached out again onXX/XX/XXXX to them and also reached out to XXXX again. So far NO ONE has responded to this. My last attempt was on XXXX. When a property owner buys a home, an appraisal is done, and the loan is typically capped at the appraisal amount. I can not buy a home that was appraised at {$300000.00} and buy it for {$400000.00} just because the seller wants that amount, so why should the reverse be any different? What are the laws regarding loss mitigation valuations? If a property value is {$38000.00}, why would a lender counter over double that amount? That would immediately put the buyer at risk. There is a HUGE issue here. Im going to be forced into foreclosure. Why would a servicer and investor even ORDER a valuation if they werent going to accept an offer from a buyer within a threshold of that amount? How is this good for anyone? Its not good for me the homeowner, its not good for XXXX XXXX investors, and realistically the only entity I see it good for is Shellpoint because they have wasted months and months and Im sure they get paid monthly to service the loan. So the longer this loan is on the books, the more money they must make. This ENTIRE PROCESS IS ABSURD! I would like someone to respond at this point and explain to me why Ill be forced to foreclosure for a property valued at {$38000.00}, which everyone knows is the value and yet the servicer is demanding {$80000.00}. There must be some regulation of valuations for people exploring loss mitigation efforts. It seems to me just about everyone loses out here. I would like it if someone would contact myself or my third party contact ( Listed below ) I would appreciate it. Sincerely XXXX XXXX ( owner of ) XXXX XXXX XXXX XXXX, Massachusetts
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 01801
Submitted Via: Web
Date Sent: 2017-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-29
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Shellpoint Mortgage has granted a 2 week stay of the foreclosure sale of this property. We have an offer to submit. However, repeated calls to Shellpoint Mortgage are not returned. Similar circumstances have prompted previous complaints ( XXXX ). Reached the Loss Mitigation Department, in the XXXX SC office, only to find out that only a certain team is handling this file. No one can provide an update, nor could anyone assist. It turns out that the " Special Team '' handling this file, which the investor is XXXX XXXX XXXX, is based in XXXX, Texas, and that QUOTE : " no work is being done at the XXXX Office, due to the flooding, until further notice ''. We have an offer, and no Shellpoint Staff is available to work this short sale.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 27614
Submitted Via: Web
Date Sent: 2017-08-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-28
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XXXX XXXX XXXX loan number HELP STOP FORECLOSURE SALE ON XXXX XXXX, 2017 This is a complaint regarding Nonresponsive XXXX XXXX, XXXX XXXX and XXXX XXXX all of whom are engaged in unethical conduct and, non-responsive. We were working with the keep my home California program for several months and received the attached approval. We were told by keep my home calif that Your shellpoint opted out and failed to use any keep my home Calif funds. You sent a trial mod with no terms included you failed to disclose the terms such as length of loan and interest rate and gave us no information each time we called and sent you multiple emails. We elevated this matter to consumer finance who obtained a letter from your XXXX XXXX stating that you failed to include the keep my home calif hardest hit funds and reapply. Keep my home Calif stated that no need to reapply as their letter is good until XXXX and you can provide a revised trial mod. We have been waiting, calling and emailing and no response. Accordingly you never sent or provided any terms of a trial mod and each time we called were told " no supervisor was available ''. Each representative knew nothing and still no response to emails yet your letter from XXXX XXXX states these are all contact points. XXXX XXXX was left several messages yet she never bothered to contact us. Last week we were on the phone with both Keep my home Calif and finally XXXX XXXX who claims now that the trial mod would use keep my home Calif funds hardest hit yet this is in direct contradiction to the letter from XXXX XXXX the trial modification DID NOT INCLUDE aNY FUNDS FROM KEEP MY HOME CALIF. your employees kept playing games and failed to explain the terms of the mod in writing sent a letter with NO INTEREST RATE, no term of the loan, no information as to whether the keep my home Calif hardest hit funds were used or included, claimed tgatvyou would send this information but never provided it in time for us to make any trial mod payments. Your employees were unethical and unprofessional and never did anything to help us save our home. Constantly nonresponsive, failing to provide the terms of the trial mod and then locked us out of our online Shellpoint account so we could n't access any account information or make any payments. Then we asked to elevate the matter for weeks and were lied to repeatedly that there is no one above XXXX XXXX XXXX XXXX during the one time he decided to come to the phone was rude, unprofessional, put us on hold for a long period of time, failed to explain how XXXX who was on the other line with keep my home California and I both had different payment amounts from him and was no help at all claimed nothing can be done and intentionally kept us in the dark and did not give us a chance to make any payments just trying to unethically steal our home. We never received and communication from the single point of contact. Every time we called she was unavailable. Sent several emails to the escalations dept per letter from XXXX XXXX yet only received an automatic email and No information regarding our loan. XXXX XXXX was useless always played dumb stating shedding know anything about the keep my home calif program, she claimed to know nothing about our account, never explained the trial modification, never returned any phone calls and never responded to any emails. XXXX XXXX and XXXX XXXX both non-responsive and failed to give any information or let us know what was going on until too late. XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94565
Submitted Via: Web
Date Sent: 2017-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have a HELOC loan. Originally with XXXX XXXX as interest only. sold 3 times from XX/XX/XXXX. each time it was sold i confirmed with new servicer what agent originally told me, that loan was interest only for life of loan. current servicer is XXXX XXXX. Horrible customer service. Sold approximately 7 months ago. First payment amount incorrectly calculated. called, they said too bad that 's the way it goes and " it will all work out in the end ''. the first payment was {$500.00} above what i owed, i paid, the next month it was credited. I HAVE NEVER MISSED A PAYMENT OR BEEN LATE EVER WITH ANY SERVICER, INCLUDING THIS ONE. Payment due date on XX/XX/XXXX of the month. Next several monthly statements all have 3 figures on them, " Principal balance '', " credit limit '' and " previous balance ''. none of those figures make sense, as have all changed and appears balance which interest is being calculated on is going up, not down. Payment interest only was around {$1100.00}. always paid that. XX/XX/XXXX went up to XXXX called and tried to understand but little help. Paid it. Called to find out XX/XX/XXXX payment and told it was now {$3000.00}, up a total of {$1900.00} additional in 2 months. Started calling on XX/XX/XXXX re problem. No help, rude people. Talked with XXXX on XX/XX/XXXX. Talked with XXXX XX/XX/XXXX. another call XX/XX/XXXX. Talked with XXXX XXXX XX/XX/XXXX. XXXX XX/XX/XXXX. XXXX XXXX XX/XX/XXXX. Told her XXXX XXXX had called me, i talked with her, she agreed there was something wrong but was leaving that day for vacation of 2 weeks and was turning over to XXXX XXXX (? ) to do a spreadsheet on what was happening and he would contact me. NO RESPONSE at all. Told her NOT TO SEND ME TO XXXX 's VM as i knew she was on vacation. She put me on hold and next thing was XXXX 's VM even though i had told her. Called back and asked for XXXX. Was told by XXXX XXXX ( really nice woman finally ) that i knew he worked in the evening but had been 5 days since XXXX referred to him and still no WORD. She gave me name of XXXX 's supervisor, XXXX XXXX, but he was in a meeting. She was going to send him URGENT email as well as put me through to his VM and i left an urgent message. This company is absolutely horrible to deal with. I believe there calculations from the very beginning may have been wrong, and no one is willing to take on a request for explanation of recalculations of payments or any responsibility as i can see. I hoping for some help from XXXX. I will see. BUT I DO NOT RECOMMEND THIS SERVICING COMPANY AT ALL. I intent to also file a complaint with the State of South Carolina where their home office is located, as well as the State of California where i am located. I can not imagine how many other people are or may be being overcharged on their mortgage payments and no oversight and/or losing their homes to this company where you ca n't get any help. Thank you.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 93720
Submitted Via: Web
Date Sent: 2017-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I continue to seek an equitable solution from my lender, XXXX XXXX to resume making mortgage payments. The California Homeowner 's Bill of Rights states that a homeowner has a right to know who their lender is, and to be able to make contact with them. The recorded message at XXXX XXXX XXXX states, " Hello, if you are calling because the owner of your loan, please listen to the following message. The servicer of your loan is required to provide you with this telephone number under new regulations. The servicer of your loan was given the authority by the owner of the loan to make all decisions concerning the terms of you loan. The servicer is the only party who can make these decisions including whether to modify your loan, and you should contact them if you have not done so already. If you are in contact with your servicer, please continue to seek guidance from them .... '' The servicer of the loan, Shellpoint Mortgage Servicing, continues to say that XXXX XXXX makes all the decisions. In Shellpoint 's literature under the title of " Need Mortgage Help, '' it states " Our mission is simple : We 'll do everything we can do to keep you in your home. Our philosophy is : let 's work together to find the right solution that works for you. '' Among the loss mitigation options are 1. an interest only loan with a balloon, 2. missed payments and penalties put on the back end, 3. Forbearance, 4. Loan Modification, among other options. A recent conversation with them revealed that they do not offer any of those except for a modification or short sale. The modification available reduces the mortgage by a few hundred dollars. Given this, I retained the services of XXXX XXXX, an attorney at XXXX XXXX to assist me in communicating with the owner of the loan. I will refer back to XXXX. A previous CFPB complaint I filed revealed this : " ... the servicer informed you that the investor of the loan ( is ) The XXXX XXXX XXXX XXXX XXXX as Trustee on behalf of XXXX, XXXX, Alternative Loan XXXX. Please note that the XXXX XXXX XXXX XXXX XXXX is the trustee, an independent party responsible for administering the trust for the benefit of investors. The trustee is the owner of the mortgage solely for the benefit of the investors, who are the true beneficial owners of the mortgage. '' The XXXX has never responded to XXXX XXXX or to me. Shellpoint did respond to XXXX XXXX 's letter by stating that ( in effect ) the guidelines for my loan or modifications thereof, are " the guidelines set forth by the Consumer Finance Protection Bureau. ''
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 90036
Submitted Via: Web
Date Sent: 2017-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Homeowner has been working a short sale and attorney for home owner has been in constant contact with lender. Attorney was advised that we are in a value dispute. Attorney was never advised of a scheduled sale date. There was apparently a sale date scheduled for X/XX/2017. Lender clearly dual tracked this file. Lender at no time advised attorney for borrower as to sale date despite constant contact with lender and contact less than 24 hours prior to the scheduled sale date.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 20874
Submitted Via: Web
Date Sent: 2017-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Our loan originated with XXXX XXXX XXXX XXXX in XX/XX/XXXX. We continued to make mortgage payments and tried to contact XXXX XXXX with questions about the structure of our mortgage, only to find that XXXX XXXX XXXX took over the company. We requested proof from XXXX XXXX XXXX on mortgage ownership. They sent the requested documentation. After reviewing the mortgage documents, we noticed that both of our signatures were forged on some documents. Shellpoint Mortgage Servicing bought the servicing rights. now they have ignored our requests to send paperwork to support their claims of an fraud investigation into our case. They have pushed to Sheriff Sale our home XX/XX/XXXX. We paid our mortgage payments consistently on time every month on a 30 year interest only loan up until I lost my job. We are disputing the {$230000.00} amount stated in the letter sent by XXXX XXXX. Our records indicate that we owe less than 50,000 dollars on the home. Upon reading newspapers and seeing news reports, it was revealed that we were victims of Predatory Lending.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 48174
Submitted Via: Web
Date Sent: 2017-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My family and I are victims of Financial Fraud and Mortgage Fraud by XXXX XXXX XXXXXXXX, XXXX, Shellpoint Mortgage Servicing and a long line of fraudulent Lenders, Servicers and their complicit lawyers, related to a {>= $1,000,000} 1st Mortgage on our Family Farm in Maryland. I have filed a Fraud Complaint in XXXX County Circuit Court, Case # XXXX on XX/XX/XXXX, which outlines their fraudulent actions against us and we also attached our forensic experts report to the Compliant which states that the XXXX XXXX XXXXXXXX Mortgage on our Family Farm was securitized by XXXX XXXX XXXXXXXX back in XX/XX/XXXX under XXXX XXXX, without our knowledge and sold off on XXXX XXXX and still appears on the SEC console under XXXX XXXX today, among many other violations. It certainly appears that our mortgage should have been part of the {$16.00} Billion Historic Settlement between the Department of Justice ( DOJ ) and XXXX XXXX XXXX dated XX/XX/XXXX, yet no one ever contacted us about it and we only learned of this Settlement just recently. In addition, we have filed a Motion to Consolidate our Fraud Case with the banks XXXX County Circuit Court Foreclosure Case # XXXX, which they filed against me to steal our very valuable Family Farm from us. We have also filed Complaints with the FBI as well as the Office of Inspector General, Department of Housing and Urban Development, the Office of the Attorney General and the Office of the Comptroller of the Currency ( OCC ). In fact, it was the OCC who urged us to file this Complaint with the Consumer Financial Protection Bureau ( CFPB ). They felt we have very valid issues and advised us that Shellpoint Mortgage Servicing, as the current mortgage servicer, is ultimately responsible for getting the numbers correct from the beginning of the loan and they can not proceed to foreclosure until they go back to the beginning and correct ALL accounting irregularities, including the accounting irregularities we have pointed out to them. In addition, given the size of the Lenders and since we have multiple Lenders and Servicers involved, the CFPB is better suited to help us. Therefore, to address our current foreclosure issues, they suggested that we contact the CFPB, the appropriate supervisory agency for Shellpoint. Background and History We purchased our Family Farm on XX/XX/XXXX for {>= $1,000,000} all cash. This was the single largest investment we made as a family. We were approved by XXXX XXXX XXXXXXXX for a {>= $1,000,000} construction loan/re-financing and due to their many misrepresentations, ultimately closed on a {>= $1,000,000} re-financing on XX/XX/XXXX, leaving us {$500000.00} short to complete our contracted construction project. We were forced to use our savings to pay the contractors as much as we could to try to make up for this enormous shortfall by XXXX XXXX XXXX. We experienced a life changing medical issue with my wife in XX/XX/XXXX and as a result she passes out with great frequency, is almost completely bed ridden and requires 24/7 supervision and care. After numerous requests for assistance, XXXX XXXX XXXXXXXX did not provide notice of loss mitigation options until XX/XX/XXXX, at which point we submitted a complete loss mitigation package on XX/XX/XXXX containing our most personal and financial information and were provided acknowledgment of receipt. This first complete loss mitigation package went unanswered. On XX/XX/XXXX we received notice that our loan was being sold/transferred from XXXX XXXXXXXX XXXX, XXXX to XXXX XXXX XXXX. On XX/XX/XXXX XXXX XXXX XXXX offered a suggested settlement or short payoff of {$600000.00} and told me that they purchased the loan from XXXX XXXX XXXX at a great discount and that XXXX XXXX XXXXXXXX took a big loss on it, I requested time to try and make it happen. After many back-and-fourth 's they suggested that we submit a loan modification request package, which was submitted to XXXX on XX/XX/XXXX, with receipt confirmation dated XX/XX/XXXX. The package went unanswered. We submitted another complete mortgage assistance package and they confirmed receipt on XX/XX/XXXX. Still no answer. On XX/XX/XXXX we submitted another complete loan modification request package and we continued communicating with XXXX XXXX and the XXXX escrow department by email up until XX/XX/XXXX. They were not aware of what was happening and suddenly our calls and emails went unanswered. It was then revealed that the mortgage was again sold/transferred, this time to XXXX XXXX XXXX. We had no choice but to start all over again. From XX/XX/XXXX to XX/XX/XXXX the file was assigned to three different single point of contact ( SPOC ). Through XX/XX/XXXX XXXX had assigned a total of eight different SPOC 's to the loan. On XX/XX/XXXX we were provided notice that the loan would be transferred to Shellpoint and that the loan was actually sold to a new investor/owner on XX/XX/XXXX. So, we were required to start all over again. Immediately upon receipt of notice of transfer I called Shellpoint on XX/XX/XXXX several times and was given one point of contact, XXXX in their loss mitigation department, who apparently seemed professional and compassionate regarding our hardship and story. On XX/XX/XXXX we received notice that Shellpoint assigned a new single point of contact, XXXX XXXX. As requested, we submitted another complete borrower assistance package on XX/XX/XXXX. The package consisted of 83 pages containing our most personal and financial information as well as HIPAA protected health information on my wife 's very serious medical condition. The same day, confirmation of receipt of the complete package was received by Shellpoint and stated it would take 30-60 days to process and to sit tight until we heard back from Shellpoint. On XX/XX/XXXX we received a letter stating that we had not sent documents as required. That same day I called and was told that ALL of the documents were confirmed received and the file was still in review and all is well. On XX/XX/XXXX we made another request for loss mitigation options. Shellpoint then required that we submit another complete package. On XX/XX/XXXX we submitted another complete package with all updated supporting documents. On XX/XX/XXXX a notice/letter was provided stating that our request was complete and in process and further stated that they would not refer the mortgage/property to foreclosure ; or if the process had already started they would not initiate a sale, which they did. We had to file a bankruptcy to stop the sale and this went on and on. Shellpoint 's numbers were so far off from reality, it was totally impossible to get a representative to understand our position as I was told that the numbers on their screen were accurate. They were not! Shellpoint stated that our interest rate was 7.375 % and our monthly mortgage payment was {$9200.00}, when the actual interest rate per our Adjustable Rate Note was actually 2.875 % and our monthly mortgage payment was {$3500.00}, which we were trying to modify. It was apples and oranges and I could n't get anyone there to see it as it should be. Shellpoint testified under oath that the current interest rate was 7.375 % with a monthly mortgage payment of {$9200.00} per the adjustable rate note. However, the documents speak for themselves. The actual documented interest rate per the Adjustable Rate Note is based upon 1 YEAR XXXX plus 2.25 %, which averaged out during the past five years to approximately an annual percentage rate of 3 % with a monthly payment of approximately {$3800.00}. After years of both written and verbal notifications of these egregious accounting errors no effort was made to right the wrong. This fraudulent conduct prevented us from receiving a proper mortgage modification as required by federal banking laws. As detailed in our forensic experts report we were eligible and qualified for a loan modification based upon the experts review of our submissions for loan modification and using the correct numbers per the Adjustable Rate Note. NO attempt was made by the banks or servicers to correct their accounting errors putting us into a fraudulent and financially insurmountable category of owing 256 % more than the actual required monthly payment as reflected by the loan documentation. Years of requests by us to get this corrected were constantly ignored and never passed on to alleged assignee 's and/or Servicers of the mortgage. Years later we discovered in the Official Land Records of XXXX County that on XX/XX/XXXX XXXX XXXX XXXX, XXXX Sold/Assigned our XXXX XXXX XXXX to XXXX XXXX XXXX XXXX and on XX/XX/XXXX XXXX XXXX XXXX XXXX Sold/Assigned our XXXX XXXX XXXX directly to a XXXX XXXX, both of which are well after Shellpoints involvement and the notices of XX/XX/XXXX and XX/XX/XXXX as stated above. So, it appears that XXXX XXXX XXXX, XXXX was the owner of the mortgage all the way up to XX/XX/XXXX, which completely contradicts what we were told from each, as stated above and WHY did XXXX XXXX XXXX XXXX Sell/Assign the mortgage less than 4 months after purchasing it from XXXX XXXX XXXX, XXXX? Something is very wrong here. On XX/XX/XXXX, Shellpoint took our Family Farm to a foreclosure sale based upon these fraudulent numbers and actions and we are working with the authorities to stop if from conclusion, as we will be left homeless, with a completely XXXX wife/Mom and our Family Farm business stolen from us, all under false pretenses. I have assembled 6 large binders, all in chronological order, containing all of these documents and more and are happy to provide them at the appropriate time and upon your request. These banks and servicers MUST be held accountable for these horrific actions. Thank you so much for your very kind help!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 211XX
Submitted Via: Web
Date Sent: 2017-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A