Date Received: 2023-08-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: **To Whom It May Concern, ** I am XXXX XXXX XXXX XXXX writing to express my concerns and seek assistance regarding my mortgage servicing experience with XXXX XXXX XXXX XXXX XXXX XXXX and its subsequent transfer to Shellpoint Mortgage in 2023. **Account Details : ** - **Shellpoint Mortgage : ** Loan # XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Loan # XXXX In the early part of 2023, I availed of XXXX XXXX assistance program and was granted a 90-day forbearance, which consisted of three payments. This program was immensely beneficial to me during a challenging period. In XX/XX/2023, I proactively reached out to XXXX to discuss the resumption of my monthly payments. I explicitly communicated that I would not be in a position to clear any back payments immediately. In response, XXXX graciously offered to extend the forbearance program for an additional three months, which I accepted. Furthermore, I was informed that upon resumption of my regular payments, I would have three options to address the back payments, as detailed below. However, in XX/XX/2023, I was taken aback to learn that my mortgage was being transferred to a new servicing company, Shellpoint Mortgage. Despite my earnest efforts to liaise with XXXX to finalize the forbearance program and discuss the deferral of past payments, I was redirected to Shellpoint. I diligently followed up, providing all necessary documentation, including bank statements and a Request for Mortgage Assistance application. It was only on XX/XX/2023, that I received any communication from Shellpoint, in the form of three nearly identical letters. Upon speaking with them, I was informed that they would only consider deferring three payments, and that too after I make a lump sum payment covering three months in XX/XX/2023. This proposal is not feasible for me. For reference, my point of contact at Shellpoint is : - **XXXX XXXX XXXX Phone : XXXX - Address : XXXX XXXX XXXX, XXXX, SC XXXX XXXX Website : www.Shellpointmtg.com At XXXX, my designated Relationship Manager was XXXX, although I must note that I never had the opportunity to speak with her directly in 2023. - Phone : XXXX - Address : XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, UT XXXX **Options for Addressing Back Payments : ** 1. **Repayment Plan : ** This would allow me to repay the missed payments over an extended duration by paying my regular monthly mortgage installment plus an additional amount. 2. **Modification : ** There's potential for a more manageable monthly payment by altering the terms of my mortgage loan. This could involve a reduction in the interest rate, a partial payment deferral, or an extension of the loan 's maturity date. 3. **Deferral : ** This option would bring my account up-to-date without modifying the loan terms. The principal and interest from the missed payments would be appended to the loan 's end, forming a non-interest-bearing balloon due at maturity or when the loan is settled in full. I kindly request the Consumer Financial Protection Bureau to intervene and assist in resolving this matter. As a XXXX citizen, I am seeking a fair and compassionate resolution that takes into account my age and financial circumstances. Please note that as of now, I am represented by an attorney : XXXX XXXX XXXX XXXX XXXX. ** - Email : XXXX - Address : XXXX XXXX XXXX XXXX # XXXX, XXXX XXXX, CA XXXX Any communications or discussions regarding this matter should be directed to Attorney XXXX. Thank you for your attention to this matter.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have been trying to work with the mortgage to resolve this matte for some time but they went into forclosure without due process. I would like to pay with a negotiable instrument which within my legal rights. The bank is denying my right to pay through a negotiable instrument/Tender of payment.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 11377
Submitted Via: Web
Date Sent: 2023-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: About 1 month ago i had wanted to switch my flood insurance carrier to another flood insurance carrier which was approximately {$1000.00} cheaper annually The original carrier is requiring a written letter its OK Shellpoint Mortgage Company to allow the switch Shellpoint agreed and promised me they would send the letter to the 1st flood insurance carrier ( XXXX XXXX ) so i can switch ; Note : i have Shellpoint 's multiple promises they made to me in writing via their emails to me they would issue the letter!! Suddenly after patiently waiting almost a month i was then told they will not send the letter! Compounding matters, i am paying the higher Flood Insurance premium amount during the entire wait! pls help me to have Shellpoint fulfill the promise to send the letter out ; again, i can provide all of the emails with all the Shellpoint Mortgage contact information with dates of all the correspondence thank you very much
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 334XX
Submitted Via: Web
Date Sent: 2023-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am writing because I have concerns that my mortgage servicer, NewRez LLC, is actively violating my rights as a consumer. I have attempted to work with them for 53 days now to resolve a banking error that affected my mortgage 's scheduled auto payment. Since then, I have experienced multiple failures of customer service that continue to effect my ability to ensure my mortgage will be paid on time. In the same period, NewRez LLC assessed fines and fees against me due to these errors. Most troubling, they have also demonstrated a willingess to misrepresent the facts and mischaracterize my interactions with customer service to the Consumer Financial Protection Bureau. For example, in their response to my complaint, XXXX, they state the following : " On XX/XX/XXXX you setup a recurring payment agreement with different account information. On XX/XX/XXXX notice, a Recurring ACH Setup Confirmation Letter was sent informing you the recurring monthly drafts you authorized will automatically be debited from your account beginning XX/XX/XXXX in the amount of {$2000.00} from the account ending in XXXX. Enclosed is a copy of the Recurring XXXX XXXX Confirmation Letter for your review. '' This response was dated XX/XX/XXXX. However, I am in receipt of a mailed letter dated XX/XX/XXXX, which states that my autodraft payments have been canceled. When I checked the website on XX/XX/XXXX, I see no recurring auto payments are established. Furthermore, in a separate matter they state, " Our Customer Service Representative ( CSR ) agreed you may not have received adequate notification regarding the cancellation of your recurring payments and they submitted a complaint on your behalf. '' In fact, their XXXX agreed that the information shown on the webpage was inaccurate as she actively checked the screen I was viewing live on the call. This is a critical omission as the website accuracies and glitches are a core aspect of my complaint. However, NewRez states, " A review of our website has found it to be in proper working order and we decline to make updates at this time ''. Furthermore, this is not the first glitch I have experienced with their website. When I attempted to make a payment on XX/XX/XXXX, XXXX pinged an account ending in XXXX, which is an account I actively deselected as it is no longer an open account. Instead, I manually filled in the form with banking information from a separate account. I have explained this to them a number of times, yet they omit this critical detail in their response as they only state, " On XX/XX/XXXX, a payment in the amount of {$2000.00} was received and applied as the XX/XX/XXXX installment. Our records show you attempted to pay your monthly installment with an account ending in XXXX. '' According to the Consumer Financial Protection Bureau, " Mortgage servicers have to set up their business so they can find correct information about your loan. '' https : //files.consumerfinance.gov/f/documents/cfpb_know_your_rights_mortgage_servicer_comply_federal_rules_handout.pdf Given NewRez ' effective non-response to my concerns and their continued inability to provide accurate information about my mortgage and the status of scheduled payments, I believe they may be in violation of federal law. Furthermore, they continue a pattern of intimidation that I believe may be in violation of the The Fair Debt Collection Practices Act ( FDCPA ). For example, in their response to my CFPB complaint, they emphasize the power imbalance between consumers and mortgage servicers as they state, " Please be advised that it is customary in the mortgage lending industry for loans to be sold and transferred between lending institution. These transfers do not require the permission of the homeowner for them to take place. '' I have experienced other unprofessional behavior from their XXXX ( eg, hang-ups ), which I detail in my now two CFPB complaints as I attempted to resolve this matter, which again, remains unresolved. By refusing to address these issues and refusing to refund fees assessed, I believe NewRez may be actively attempting to create the opportunity for fee entrapment.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22310
Submitted Via: Web
Date Sent: 2023-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: An escrow statement is due on my account annually. In XXXX an escrow analysis was done and mailed to me showing an over 3k escrow refund. Every other year the escrow s check was attached to the analysis. This time it was omitted. I waited a week to see if the check would come. No check ever came. I called the company. New Rez and was told that she was not sure why the check was not included but that she would just direct deposit my escrow payment. She verified my account number she had on file. She told me to give it 2-5 days. A week later nothing had happened. I wrote to the secure mailbox on the New Rez site. Almost immediately I got a response saying I needed to request the refund via writing which I immediately did. In the past I heard right back from this mailbox. I am yet to get a response about my escrow overpayment. I called New Rez customer service yet again and was told the first agent failed to check a box allowing direct deposit but was promised this rep arranged it but still no direct deposit. I feel the company is trying to withhold monies due to me for some reason. I am not sure why I am told so many different things. I just want my overpayment as I have other bills due.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers
State: KY
Zip: 402XX
Submitted Via: Web
Date Sent: 2023-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My loan was recently Sold from XXXX XXXX to Shellpoint/New Rez loan servicing company. Sale date was XX/XX/2023. My forbearance plan was set to expire XX/XX/2023 with XXXX XXXX without an extension. However I attempted to request an extension with XXXX XXXX loss mitigation department prior to the transfer of the loan. Due to the incompetence of their customer service rep I was told to call in again after XX/XX/2023 to request an extension. Exactly on XX/XX/2023 I called XXXX XXXX they informed me my loan was sold to Shellpoint/New Rez. Up until the date of XX/XX/2023 XXXX XXXX did not QRPC according to XXXX XXXX servicing guideline with me regarding the ending of the forbearance. At this moment my extension for my disaster forbearance is unresolved and is marked as " expired '' at the time it was sold to my new servicer. Shellpoint/new rez as of this date has not responded with a resolution this issue, Or even attempted QRPC according to XXXX XXXX Servicing guideline for any workout solution. They are putting me in a normal delinquent status with no regard to my previous forbearance plan. As of today Im only 6-7 months into my Disaster Forbearance Delinquency I still allowed complete up to 12 months. My current inability to extend my disaster forbearance of my loan is due to incompetence of my previous servicer and inaction taken by my current servicer.
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
State: CA
Zip: 95618
Submitted Via: Web
Date Sent: 2023-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My loan was recently Sold from XXXX XXXX to Shellpoint/New Rez loan servicing company. Sale date was XX/XX/2023. My forbearance plan was set to expire XX/XX/2023 with XXXX XXXX without an extension. However I attempted to request an extension with XXXX XXXX loss mitigation department prior to the transfer of the loan. Due to the incompetence of their customer service rep I was told to call in again after XX/XX/2023 to request an extension. Exactly on XX/XX/2023 I called XXXX XXXX they informed me my loan was sold to Shellpoint/New Rez. Up until the date of XX/XX/2023 XXXX XXXX did not XXXX according to XXXX XXXX XXXX guideline with me regarding the ending of the forbearance. At this moment my extension for my disaster forbearance is unresolved and is marked as " expired '' at the time it was sold to my new servicer. Shellpoint/new rez as of this date has not responded with a resolution this issue, Or even attempted XXXX according to XXXX XXXX Servicing guideline for any workout solution. They are putting me in a normal delinquent status with no regard to my previous forbearance plan. As of today Im only XXXX months into my Disaster Forbearance Delinquency I still allowed complete up to 12 months. My current inability to extend my disaster forbearance of my loan is due to incompetence of my previous servicer and inaction taken by my current servicer.
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
State: CA
Zip: 95618
Submitted Via: Web
Date Sent: 2023-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX paid {$78000.00} for flood claim from XX/XX/2023. The Check was cashed by XXXX XXXX mortage company. on XX/XX/XXXX my mortgage was sold to NewRez. NewRez notified me they do not have the funds. I called XXXX and they sent me copy of cashed check. Check was cashed by XXXX XXXX. I got rep from XXXX XXXX on a XXXX way recorded line with rep of New Rez and then miraculously the money was there. NewRez received the funds XX/XX/2023 XXXX said he would have a check overnighted on Friday XX/XX/XXXX. Called XXXX just to make sure and XXXX confirmed. No check arrived. Called NewRez XXXX morning and they said they don't have the funds. I have made a call many times each call over an hour long. They won't let you talk to a manager nor give you a number to their corporate office which they keep referring to. My last call today was almost a full XXXX hours and the same lies back and forth. we are old and sick and just want to repair our house and get home.
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
State: FL
Zip: 33324
Submitted Via: Web
Date Sent: 2023-08-22
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I am writing to file a formal complaint against Shellpoint Mortgage Servicing ( " Shellpoint '' ) regarding their unfair and deceptive foreclosure practices that have led to substantial financial and emotional distress. It is with great concern that I bring to your attention a series of actions by Shellpoint that appear to violate established consumer protection laws and regulations. I believe these actions have directly contributed to the wrongful foreclosure of my property located at [ Property Address ]. Background : In XX/XX/XXXX, I made the life-changing decision to purchase my home for {$470000.00}, which, according to recent valuations, is now estimated to be worth around {$700000.00}. At the time of purchase, Shellpoint was the designated servicer for my first mortgage, which amounted to approximately {$410000.00}. My monthly mortgage payments were consistently met, totaling {$2300.00}, until XX/XX/XXXX. This was when Shellpoint claimed that I owed an additional {$150000.00} in various fees, a contention that triggered an ongoing dispute over the actual loan amount. The heart of the issue stems from my participation in Shellpoint 's forbearance plan during the COVID-19 pandemic, which concluded on XX/XX/XXXX. Following the forbearance period, Shellpoint extended a three-month trial plan to me, promising that if I made all three payments on time and in the correct amount, my mortgage would be modified to accommodate the previously unpaid amounts from the forbearance period. Initially set for XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, the payment dates were later shifted to XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, to better align with my financial circumstances. It is crucial to note that, in response to the trial plan, I received an email communication from a Shellpoint loss mitigation specialist, who stated that my trial payment would amount to {$2200.00}. Curiously, this figure differed from the payment amount listed on my mortgage statement, which still indicated {$2300.00}. Nevertheless, I meticulously made the three trial payments in the amount of {$2300.00}, adhering to the adjusted schedule. The transaction activity on my mortgage statement corroborated these timely payments, and Shellpoint even reported to credit agencies that all three payments were accurately received and processed. To my surprise, however, approximately seven days after the second trial payment was submitted, Shellpoint returned the funds, asserting that there were insufficient funds in my bank account to cover the payment. I find this assertion puzzling, as my bank confirmed the availability of funds in my account throughout the entire seven-day period both before and after the payment was returned. Strangely, I never received any notification from Shellpoint indicating insufficient funds, a practice they had followed in the past when warranted. Adding to my bewilderment, my inquiries about this issue to my designated single point of contact at Shellpoint remained unanswered or inadequately addressed. Eventually, I did manage to establish contact with my single point of contact at Shellpoint, albeit after a significant delay. By the time this contact was established, interest rates had surged considerably, causing Shellpoint to reject my loan modification application due to the resulting high payment amount resulting from the elevated interest rates. This rejection marked a pivotal turning point, as Shellpoint subsequently initiated foreclosure proceedings on my property. The foreclosure process formally commenced on XX/XX/XXXX, with an initial foreclosure sale scheduled for XX/XX/XXXX. However, this sale date experienced multiple postponements, rescheduling for XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and ultimately culminating in a final foreclosure sale date of XX/XX/XXXX. Additional Complications : In the latter part of XXXX, my household experienced a roof leak that caused extensive damage to the master bathroom of our residence. To address this issue, our insurance provider, XXXX XXXX, approved a sum of {$25000.00} for necessary repairs. We received a check intended for both us and Shellpoint, the latter receiving roughly {$12000.00}. Intending to utilize these funds for repair work, we forwarded the check to Shellpoint with the expectation that they would return the funds to us for engagement with a contractor. To our astonishment, Shellpoint fragmented the {$12000.00} into four smaller payments of approximately {$3500.00} each. This division of funds placed us in a predicament, as most contractors required the full amount upfront. As a result, my spouse and I opted to tackle the repairs ourselves, navigating the restrictions that Shellpoint had imposed on the use of these funds. The culmination of these unfortunate circumstances occurred in a manner that deeply affected the property 's market value. Specifically, the incomplete state of the master bathroom following the roof leak damage had a direct bearing on potential buyers ' perceptions of the property. This was exacerbated by the fact that buyers seeking conventional mortgageswere unable to proceed due to the presence of an unfinished bathroom, a condition that precluded approval for conventional loan underwriting. As a direct consequence, the market value of the property plummeted below the outstanding mortgage balance, rendering the property 's sale an unsustainable solution. In light of these predicaments and as a contingency measure, my family decided to list the property for sale. Despite our best efforts, it became apparent that the unfinished bathroom negatively impacted the property 's marketability, resulting in offers that fell short of the mortgage balance. Consequently, we applied for participation in Shellpoint 's short sale program, a step we believed would enable a more amicable resolution. The Short Sale Program Fiasco : This is where the situation took a further turn for the worse. I received XXXX separate letters from Shellpoint, dated XX/XX/XXXX, and XX/XX/XXXX, respectively. Both letters expressed conditional approval for participation in the short sale program, provided that specific requirements were met. These requirements pertained to short sale marketing and the submission of necessary documents for evaluation of offers. The timeline for acceptance was set at XX/XX/XXXX, indicating a definitive opportunity for resolution and foreclosure avoidance. To confirm our participation, I promptly communicated our intent and complied with all necessary documentation, both through Shellpoint 's online portal and direct emails to my assigned single point of contact. Regrettably, my experience with maintaining consistent single points of contact with Shellpoint had been characterized by change, leading to inconsistencies in communication and accountability. Between XX/XX/XXXX, and XX/XX/XXXX, the identity of my single point of contact shifted multiple times, introducing additional uncertainty and complexity into an already fraught situation. The shifts from XXXX XXXX to XXXX XXXX, and subsequently to XXXX XXXX, only to revert back to XXXX XXXX, further compounded my challenges. Despite my diligent compliance with Shellpoint 's requests, the outcome remained disheartening. Following offers that exceeded the mortgage payoff, including offers with waived inspections, Shellpoint inexplicably rejected them without providing clear explanations. This, despite their own subpar bid during the foreclosure process, which had been lower than the rejected offers. The culmination of these events transpired on XX/XX/XXXX, the very same day that the deadline for acceptance into the short sale program was set. On that day, Shellpoint placed a bid amount of {$460000.00} during the foreclosure proceedings. Not only did this bid fall below the property 's market value, it left a deficiency of {$60000.00}, a stark contrast to the initial offer that Shellpoint had dismissed for being too low. Two days later, the property was sold to a third party for {$550000.00}. This sale price exceeded Shellpoint 's bid, leading to an overbid amount of {$20000.00}. The most troubling aspect is that despite submitting a bid lower than market value, Shellpoint proceeded to collect the deficiency payment of {$60000.00}, creating an untenable situation wherein the lender not only retained the property but also coerced a financially crippling payment from me. In Closing : Considering the extensive series of events outlined above, I am convinced that Shellpoint Mortgage Servicing 's actions have violated numerous laws, regulations, and ethical standards intended to protect consumers. I beseech the Consumer Financial Protection Bureau to thoroughly investigate the matter at hand, ensuring that justice prevails and my grievances are adequately addressed. The grave financial, emotional, and psychological toll that this situation has exacted upon my family and me underscores the urgency of rectifying the situation. I earnestly thank you for your attention to this matter and eagerly anticipate a resolution that will restore fairness, transparency, and integrity to my dealings with Shellpoint Mortgage Servicing
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CO
Zip: 80211
Submitted Via: Web
Date Sent: 2023-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I was approved for a loan modification by Shellpoint Mortgage Servicing and XXXX XXXX XXXX XXXX in XXXX of XXXXMy first payment was due XX/XX/. The only statement I received was in XXXX. It said that if I paid an escrow shortage of {$110.00}, my monthly mortgage payment would be XXXX XXXXXXXX. This is very close to what my original payments was before COVID and the problems after it, so we naturally figured that would be our payment going forward. Especially since a Shellpoint representative had told me that although the 3 month trial payments were higher, the permanent payments were always about the same as before. I paid the escrow shortage and made a payment for XXXX in the amount of {$2400.00}. I enclosed a copy of the statement, and marked the checks appropriately. Shellpoint cashed both checks. I received no communication- statements or otherwise, so I continued to make monthly payments in the same amount, all marked appropriately. I included a copy of my statement with each. Each check was cashed. I received absolutely no correspondence from either Shellpoint or XXXX until a Letter of Intent to Foreclose. Even after that, I continued to make my payments, and they continued to cash them right through XXXX.I have requested a copy of all correspondence from XXXX, but have not received it. I was never furnished a statement, or any notice of being behind on payments, or that they were going to report me late and/or delinquent to credit agencies. The line item amounts shown on the letter of intent to foreclose make no sense. In XXXX I received a letter from a reporting agency saying that my credit had improved because of my timely payments in full to Shellpoint. I thought that was wonderful, and that everything was fine. A month later I went to buy a car, and discovered that Shellpoint was marking me as delinquent. They even marked me delinquent while I was paying my trial payments last XXXX. They are now showing me as 5 months late! I never received any notice that they were marking and reporting me as late. They have effectively ruined my credit, and never told my why.This has had a profound effect on my life- and now I can not even refinance with another company. I have copies of each monthly cashed payment, as well as the statement I enclosed with the payment. I also have a credit report showing what they have done. I did not attach these items because of sensitive account numbers, ssn, etc., but will gladly provide everything if requested.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 082XX
Submitted Via: Web
Date Sent: 2023-10-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A