Date Received: 2017-07-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I received my welcome letter from Shellpoint, my new mortgage servicer, stating that " we 're concerned about your recently missed mortgage payments and want to offer our assistance in case you are unable to catch up ''. " This information may be reflected in your credit report ''. I had never missed a payment with XXXX , since XX/XX/XXXX when the loan modification began. I just completed bankruptcy the month prior to receiving Shellpoints letter, in XX/XX/XXXX . The trustee of my bankruptcy did an audit, so that I knew I was not behind on any payments and all my debt was paid off, when my bankruptcy was discharged, XX/XX/XXXX . When I called Shellpoint, they told me I was {$11000.00} in arrears, and I could be put on a payment plan. They said I could not refi because I just came out of bankruptcy. They wanted a copy of my loan modification. I sent email with attached loan modification, showing my loan was on 40 year fixed rate of {$1500.00} a month until XXXX . Shellpoint set up conference call with me but nobody called back, so I 'm not sure what is happening After I read peoples experiences with Shellpoint on XXXX , I am very concerned about my new mortgage company and do not want to do business with them. I sent email to my previous mortgage service company and requested a payment history to see what is going on, since late payments are not showing up on my credit report. I have attached documents supporting conversations between myself and Shellpoint
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
State: CA
Zip: 95354
Submitted Via: Web
Date Sent: 2017-07-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-16
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: THE XXXX XXXX XXXX XXXX XXXX XXXX , AS XXXX XXXX XXXX XXXX XXXX XXXX AS TRUSTEE, FOR THE CERTIFICATEHOLDERS, XXXX XXXX , MORTGAGE PASS- TROUGH CERTIFICATES SERIES Mortgage on XXXX / XXXX 2007 with a loan amount of XXXX for 360 months at 7.250 % interest rate.
Grievance Notice under Clause 20 of the Deed of Trust/Mortgage & 12 C.F.R. 1024.35 Loan ending in XXXX I am writing to report my grievances regarding the mortgage transaction involving my property. The grievances are as follows ; 1. Deed of Trust may be void, or avoidable in bankruptcy. 2. Fraud in creation of stated income, unconscionable debt ratio and inability to repay. 3. ECOA violation failure to take written application.Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 78552
Submitted Via: Web
Date Sent: 2017-07-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX XXXX mortgage was transferred to Shellpoint Mortgage Servicing. Received a letter dated XXXX XXXX XXXX from Shellpoint stating the flood insurance was NOT required for my property though it was mandated by the previous mortgage company.
Shellpoint 's letter indicated that if I wished to have flood insurance removed from my escrow account, I needed to notify them in writing. The flood insurance policy was canceled by the original mortgage company at the transfer of the mortgage account. On XXXX I sent an email to the Shellpoint account indicated to have the flood insurance removed from my escrow account. I received no response from Shellpoint. On X/X/17 I sent a second email informing them of the same. Again, no response. On X/XX/17 I made a third attempt at notification with no response. I recently received an Annual Escrow Disclosure Statement from Shellpoint dated X/XX/17 which still listed monthly payments from the escrow account for flood insurance.Company Response: Company believes complaint is the result of an isolated error
State: IN
Zip: 46217
Submitted Via: Web
Date Sent: 2017-07-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I live in a flood plane and which means that I have to carry flood insurance to statisfy my mortgage requirements. I previously had my home hazard insurance and flood insurance with XXXX. After a very poor experience with XXXX, I switched my home hazard insurance to XXXX. My flood insurance is set to renew this year on XXXX. I have been trying to switch that over to XXXX as well.
In XXXX, I found out that my mortgage company, who handles my escrow, Shellpoint Mortgage sent over renewal payment to XXXX for my flood insurance. I did not request this nor want it. I only found this out when I called to have the insurance be switched to XXXX. Since then, I have been trying to get the insurance switched. On XXXX, Shellpoint told me that a check would be sent to XXXX. Then, once they received that payment, they would provide me with a Decleration Page, which I could use with XXXX to cancel the current renewal and get the original payment refunded. On XXXX I received information from XXXX that the check never went out. Upon calling Shellpoint, they confirmed the same thing. After spending over an hour on the phone between both parties, Shellpoint said that they would overnight a check to XXXX to make sure that we could get this worked out before the renewal date of XXXX for my flood insurance. On XXXX I called Shellpoint to confirm everything was good, and get the overnight check information ( tracking number, carrier, etc ) so that XXXX could easily find the check. Then I was informed that the check never went out and that it takes them 'time ' to process the check. I am currently on the phone trying to deal with this issue. However, I have very little faith that it will get worked out. I am worried that I will not be able to switch my flood insurance to XXXX and even if that happens, I am worried about being able to get a refund from XXXX. Please help.Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77096
Submitted Via: Web
Date Sent: 2017-07-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-13
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: New Penn agreed to fund our loan on XX/XX/XXXX and they were told immediately we had a non-occupant co -borrower. We provided all required asset and income information and we met every condition. The appraisal was ordered by New Penn and the house met the appraisal amount required. New Penn called me to confirm information and congratulated me on the home loan. New Penn told my broker to expect documents to sign on X/XX/17. Today X/XX/17, we were told they would not fund the loan because of the non-occupant co borrower ( which they knew about in XX/XX/XXXX ).
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers
State: CA
Zip: 95125
Submitted Via: Web
Date Sent: 2017-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Shellpoint and their foreclosure attorney XXXX XXXX are in violation of CA law CAHBOR which prohibits dual tracking. CAHBOR specifically states a foreclosure process may not continue when a work out is being considered. This is an approved short sale and Shellpoint shows a foreclosure sale date. This is illegal and this activity must CEASE and DESIST. Shellpoint tries to state that the sale date is on hold however that is not in compliance with CA law. The law specifically states the foreclosure process may not continue. Putting something on hold means you are still continuing with the process. To be complaint there can be NO SALE DATE showing WHATSOEVER
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92692
Submitted Via: Web
Date Sent: 2017-07-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-10
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I was late with my monthly payments ( 4 months ) but always informing SHELLPOINT MORTGAGE SERVICING who were saying they will help and find a solution. I kept contact. Im XX/XX/XXXX They offer me a trial period to avoid foreclosure ( Streamlined Modification Solicitation letter ) starting XX/XX/XXXX, XX/XX/XXXX XX/XX/XXXX and said if i honored the 3 payments the will come with a modification plan.
I made sure i sent my checks before each due date and controlled checks on my bank account were debited accordingly. XX/XX/XXXX i called them ( again ) to know what s going to happen in XX/XX/XXXX. That is when they told me they never received my XX/XX/XXXX payment. Since i sent them twice the proof they cashed my check. they are now telling me this morning my file is in Foreclosure. They never replied to any of my email or try to established live contact with meCompany Response: Company believes complaint is the result of an isolated error
State: AZ
Zip: 85258
Submitted Via: Web
Date Sent: 2017-07-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am attaching a Mort gage Statement received from Shell Point Mortgage. I do not know this Company nor I borrowed any money from them. I want to send them a QWR Notice under RESPA. But their Mortgage Statement does not have any address to which I can send this QWR, although it is required by Law.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 11435
Submitted Via: Web
Date Sent: 2017-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-06
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I am contacting your office to formally appeal the denial of the modification request for the property located at XXXX XXXX XXXX XXXX XXXX XXXX, CA.
I received a written denial from Shellpoint based on NPV calculations that stated that I did not qualify for help. However, there were multiple errors made by Shellpoint in the data that was used to evaluate my request. These requests relate to the income used, as well as the appraised value that was listed on the form. These are obviously two MAJOR determining factors and the incorrect information used to conduct this evaluation renders the entire underwriting decision moot. Error # 1 : The file that was submitted in XX/XX/XXXX 2017 showed a significant change in financial circumstances and based on this, my monthly income average was {$35000.00} which is significantly HIGHER than the figure of {$25000.00} that was used in Shellpoint 's evaluation. Additionally, the property value that was used in their evaluation was listed as {$3.00} million dollars. However, I have correspondence from Shellpoint ( attached ) that clearly states that on XX/XX/XXXX Shellpoint acknowledged that the current property value was XXXX XXXX dollars. Now their appraiser and Shellpoint is attempting to state that the appraised value of this property increased over 1 million dollars in two months time. Not only is this inaccurate, it is mortgage fraud. It seems that Shellpoint is changing the rules of the game as we go and then hiding behind negative NPV as a reason for denial. They have changed the value of the property 3 times and over a million dollars each time. They have used inaccurate and outdated income figures to determine if I qualify for any assistance programs or plans. I understand there is a large delinquency but I deserve a fair and accurate review based on the information presented, not based on whatever value Shellpoint decides to use to back up their assertions. I thought that it was no illegal for appraisers to grossly inflate values in order to please the lender, yet it is obvious that is what is going on hereCompany Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92037
Submitted Via: Web
Date Sent: 2017-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-30
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We have a contract to sell the house in a short sale. The lender says they have 30 days to review the information and make a decision. They took more than 30 days to respond, though we had called in 2-3 times a week asking for updates. Each time, we were told we 'd hear something in " 3-5 business days '' but it took them several weeks to actually make a determination. Yesterday, we were told that we needed to counter the contract price of the property ( {$300000.00} ) to {$280000.00}. They then clarified that the net to the investor needed to be {$280000.00}. We asked what fees on the HUD the investor would not pay for, and were told that we were not allowed to know that information. We asked what the appraisal report stated the FMV of the property was, and the servicer told us that they " were not privvy to that information. '' When we asked how we were supposed to come to agreed upon terms without either of those pieces of information, it was suggested we eliminate substantially all fees on the HUD except the lender 's payout, which is impossible. We ca n't counter the buyer without knowing what the lender believes the FMV of the property to be, and we do n't know what fees on the HUD the lender wo n't pay for - so we 'll never be able to come to terms unless they tell us. With the foreclosure sale date in two weeks, we believe this is a showing of negotiation in bad faith : that they are trying to use the pending foreclosure to fleece the parties to the contract of their fees, and to make the buyer pay an artificially inflated price for the property. It is also important to note that the lender admitted that they never performed an interior appraisal - they just had a drive-by BPO and set the value using a third party webservice, such as XXXX, which have been proven to be inaccurate.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 641XX
Submitted Via: Web
Date Sent: 2017-06-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A