Date Received: 2023-07-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: i last sent and recommend the owner of the loan to adjust the interest payed on my mortgage, which none of my payment was sent to my mortgage principal to bring down my principal. i have a right to have all options to pay off my mortgage. according to the federal trade commission. the owner of loan states they have no authority over the adjustment of my mortgage loan. i want to know if shellpoint has the authority to adjust my principal from XXXX to XXXX none of my payments are going toward principal all those years.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WI
Zip: 53218
Submitted Via: Web
Date Sent: 2023-07-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage was initially with XXXX XXXX XXXX XXXX and then sold to XXXX XXXX XXXX XXXX in XX/XX/XXXX, who appointed Shellpoint Mortgage Servicing as Servicer. My mortgage was under Covid forbearance when sold. New Servicer started demanding payments. I requested a proof that I have a contract with them. They refused to respond to any of my communications ( waiting for the XXXX default insurance claim window to expire ). Then in XXXX I received a demand letter from a law office, I responded with a request for more information - no answer. On XX/XX/XXXX, the default window expired and the Servicer could collect the insurance claim on the mortgage security investment, which they did. Two weeks later they assigned a foreclosing attorney and initiated foreclosure. Only then I received a response from both the Servicer and the attorney - both responses included only copies of the Deed of Trust and a forged last page of the note ( visibly forged endorsements ). I responded again with a request for some more information to no avail. Then In XX/XX/XXXX I exercised my legal remedy and made two payments in full to satisfy the mortgage - Payment # 1 was made directly to the Servicer via a Note for {$280000.00} U.S. Dollars together with an IRS form XXXX and a Settlement Offer letter. As of this complaint this haven't responded, therefore pursuant UCC articles 3 & 9, they have accepted the payment. Payment # 2 was made directly to their attorney via XXXX XXXX XXXX XXXX XXXX with an IRS payment voucher for {$250000.00} U.S. Dollars and IRS form 1099-OID and an Accepted for value letter. As of this complaint this haven't responded, therefore pursuant UCC articles 3 & 9, they have accepted the payment. The attorney then scheduled a foreclosure for XX/XX/XXXX and still refuses to communicate with me and I have not received an answer regarding my payment from the Servicer. They both accepted the payments and proceeded with the foreclosure nevertheless. They both act as f they are above the law and make up their own rules as they go, as if they don't want to settle this situation, they only want foreclosure. I have notified XXXX XXXX XXXXXXXX XXXX about both payments in full and still no response. So far for 6 months the only response I received was a copy of the deed and the forged note. I have sent a RESPA Qualified Written Letter, but I'm afraid they won't answer to that one either. Their attorney 's office told me their attorney doesn't have answer or talk to me because they talk only to other attorneys. This is the most colossal fraud in the history of this country - every time someone receives a bill or a statement, that is an offer to contract based on public debt, it doesn't mean you owe money, because there is no money in circulation in this country, only Federal Reserve debt notes ( IOUs ).
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 78717
Submitted Via: Web
Date Sent: 2023-07-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I took out this mortgage in XX/XX/XXXX and I pay my mortgage on the XXXX of each month, The mortgage started with XXXX XXXX XXXX company and sold/transfered to Newrez/Shellpoint mortgage servicing companies in XX/XX/XXXX. In XX/XX/XXXX I received a notice that I missed the XX/XX/XXXX payment and they said in a letter that they reeived the payment but it was returned for insufficient funds, XXXX months later, and the computer failed to send me notification that the payment was returned, impossible because the funds was in the account. per my bank statements, and i also have overdraft protection to cover any debit from my account. I have sented Newrez my XXXX XXXX bank statement that shows the payment was posted on XXXX XXXX, XXXX but they insist that the payment is missing, then they said I missed a XX/XX/XXXX payment, I sented them XXXX bank statement that showed that payment was also paid. Then i get a notice that my paymests has increased by {$170.00} due to insurance and taxes, I am tax exempted because I a XXXX XXXX XXXXXXXX veteran perm. and total, My insurance should have {$2300.00} a year with XXXX insurance company. I have the policy from XXXX. I have received many many letters and phone calls from Newrez to the point of harrassment. I want Newrez to cease and desist from calling or writing me.From this point i will only speak with my point of contact at Newrez!
Company Response: Company believes the complaint is the result of a misunderstanding
State: TN
Zip: 380XX
Submitted Via: Web
Date Sent: 2023-07-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-30
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Dear Sir/Madam, I am writing to file a formal complaint against NewRez LLC XXXX a mortgage servicer, for potential violations related to interest accrual and reporting practices. It has come to my attention that NewRez may be increasing the unpaid principal balance ( UPB ) during the forbearance ( FB ) plan period, resulting in an inflated interest-bearing amount and interest accrual on interest. Furthermore, NewRez has been consistently reporting an increased principal balance to the credit bureaus on a monthly basis. I believe these practices are in violation of applicable regulations and guidelines. I assert that NewRez, as a mortgage servicer, is not capturing the delinquent interest accrual separately, increasing the note amount. This, in turn, raises the interest-bearing amount, leading to interest being charged on interest. Such practices may be in contravention of the rules established by relevant regulatory bodies, including the Federal Housing Finance Agency ( FHFA ) and the Consumer Financial Protection Bureau ( CFPB ). In light of the above, I kindly request the following actions to be taken : Investigation : I request that the CFPB conduct a thorough investigation into NewRez 's interest accrual and reporting practices during the forbearance plan period. The investigation should assess whether NewRez is increasing the XXXX XXXX XXXX, leading to an inflated interest-bearing amount and interest accrual on interest. Guidance : I recommend seeking clarification from XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX or the CFPB regarding the permissibility of increasing the principal balance during the forbearance plan period. It is important to establish clear guidelines and standards for mortgage servicers to prevent unfair and deceptive practices. Reporting Accuracy : I urge the CFPB to address the issue of NewRez reporting an increased principal balance to the credit bureaus on a monthly basis. This reporting may misrepresent the true financial status of borrowers and could have significant implications for credit scores and access to credit in the future. I believe that addressing these concerns is crucial for ensuring fair and transparent mortgage servicing practices, protecting the rights of borrowers, and maintaining the integrity of the housing finance system. I am prepared to provide any additional information or documentation that may assist in the investigation of this matter. Please inform me of any actions taken or updates regarding this complaint. I appreciate your attention to this matter and your commitment to consumer protection. Thank you for your prompt assistance.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 76021
Submitted Via: Web
Date Sent: 2023-06-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: this is in response to Shellpoint 's last response to my many-times filed request to remove PMI, and the CFPB complaint # XXXX. OK XXXX XXXX- you are simply NOT 'getting it ' and are attempting to continue delay and obfuscating the point and also my multiple requests to have PMI removed. Let me lay it out for you : 1 - I am well aware that I have a conventional loan, which- under XXXX, was backed by XXXX XXXX 2 - Since Shellpoint TOOK ON SERVICING ONLY of my mortgage eff XX/XX/XXXX, XXXX XXXX XXXX still held the note and owned my mortgage, not Shellpoint. XXXX I am well aware that XXXX XXXX ( brought up on previous fraud charges by all leadership save XXXX, in recent years and now w/a new CEO/ladership because of it ) in the indentured trustee on the mortgage now. Clear as mud. 4 - My request- as laid out NUMEROUS TIME BEFORE and filed online in the form of all these complaints, is this : While XXXX held my note, and even with Shellpoint Servicing my mortgage, I requested to have PMI removed, several times from XXXX XXXX XXXXXXXX. I spoke with several different operators who assured my i would receive paperwork to request a BPO evalution and that I would be charged a fee for this and that was the next step. This next step never happened. I have clearly laid out the timeline and my PMI removal requests that ocurred. You don't know the regulations or the fact that conventional loans NEED NOT BE OWNED BY XXXX to have PMI removed with an increased value/equity due to and appraisal. With XXXX as OWNER from XXXXXXXX XXXX XXXXXX/XX/XXXX, this was in fact part of their servicing offering/allowance and also Shellpoint 's ; below is a direct cut/paste from Shellpoint 's website re PMI removal options and the link to the Shellpoint page for reference : https : //www.shellpointmtg.com/helpful-tips/mortgage-help/what-is-pmi/ Monitoring home value The other way you may be able to pay less PMI is to carefully monitor your homes market value. In a strong housing market, its possible that your home may be worth a bit more every month you live in it. If youre confident that your homes value has significantly increased ( beyond the principal payments youve made ), talk with us and request a new valuation. Note : Youll have to pay for the valuation, which could cost as much as {$500.00}. But if the new valuation reveals that your LTV ratio is 80 % or less, you can ask us to cancel your PMI. -- -- -- So I will ask you again XXXX XXXX, why has Shellpoint not honored all the many requests that I made to have PMI removed based on the potential valuation of my home ( that I was prepared to pay for but ALSO backed/bolstered up by the value XXXX put in writing for my home ), and why has Shellpoint delayed their responses for XXXX MONTHS in the times that I made the requests BEFORE XXXX XXXX took over as 'indentured trustee '. My requests are not unusual for any CONVENTIONAL home owner who pays PMI and has done a major renovation - and especially home owners in expensive cities, like XXXX, which has seen home values skyrocket in the past 10 years. In response to your/Shellpoint 's 'taking matters very seriously ' -- I think not. You and your office have disregarded my complaints each time I have filed with CFPB and issued a blanket response without looking at timelines, onwership, and conventional mortgage/servicing perimeters. Your/Shelpoint 's operators/'CSA 's " have provided me info that confirms I am eligible and yet no action was taken to schedule a BPO- even though I was assured I would receive a form, an email, a schedule to make this happen. And -- I believe it was YOU, XXXX XXXX, who decided to issue a XXXX COVID deferment that I NEVER requested because upon transfer of my mortgage to Shellpoint for servicing, Shellpoint botched my mortgage value and attempted to charge my {$50000.00} higher ( so higher interest payments each month ) for my mortgage. So- please do not tell me that you/Shellpoint take things seriously. Shellpoint/you are prone to errors -- - as my filing yet another complaint with CFPB confirms because this the LAST thing I want to be doing on a friday night but must because you have STILL NOT RESPONDED -- and I'm going to say, at this point, perpetuates delays that constitute fraud. You have misinformed me- you have issued a XXXX deferral, you have not responded to my requests within the scope of my questions or timeframe. You/Shellpoint have turned a blind eye to all my requests since my loan was transferred for servicing on XXXX XXXX, XXXX. The lack of regard constitutes theft. If I were to have your job I would be fired by now but because you aren't fired- my guess is that your leadership is just as bad as you are and supports this theft ( first in the guise of attempting to charge my {$50000.00} higher on my mortgage, now by not honoring my request early and often to remove PMI ). The next step is to schedule a call w/you and a representative/HUD counselor who has agreed to help with this. You tell me your schedule and I will coordinate the call with HUD. ( attached is your response ( dated XX/XX/XXXX ) to the last complaint I filed w/CFPB. )
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 98133
Submitted Via: Web
Date Sent: 2023-07-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I was injured on the job in 2019 due to a XXXX injury to my XXXX that put me out of work. i applied for XXXX and was denied. i am in the process of appealing this decision. i have communicated with shellpoint newrez and they have helped a little. now they are saying that i owe XXXX my wife is the only one that works and makes little money. we also have XXXX girls that rely on us. i noticed that shellpoint is not applying partial payments and it says " unapplied funds ''. why cant these be applied when i am struggling to pay my XXXX mortage??? please help
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 301XX
Submitted Via: Web
Date Sent: 2023-08-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-27
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Shellpoint is acting in bad faith. They are just playing time clock games. In complaint, XXXX I asked for an affirmation agreement. On XX/XX/2023, Shellpoint got a request for reaffirmation. They failed to acknowledge it. After I filed a complaint, Shellpoint, on XX/XX/2023, Shellpoint claimed that the email was mishandled. Now, Shellpoint claims they are working on the affirmation agreement. This is an attempt to run out clock without reaffirming. It gives them time to put in unconscionable terms and and not file a reasonable affirmation in a timely manner. Whatever I request, Shellpoint does the opposite in pure bad faith. I tried to reaffirm the note, but Shellpoint likes to play games and create obstacles. In fact, XXXX XXXX spins the bull for Shellpoint.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 78664
Submitted Via: Web
Date Sent: 2023-06-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We pay our Mortgage to New Rez LLC dba/ Shellpoint Mortgage Servicing online and have always made extra escrow payments projecting any future shortages. Last year we paid our shortage in full to prevent any increase in monthly payment. Something our mortgage company has always offered & allowed. ( the assessment letters even state this ) They mailed us a refund for the extra we paid last year ( XXXX ) stating there was an overage and yet raised our monthly payment. This has happened again this year. We recently received our ( XXXX ) escrow assessment stating that there was a shortage this year and that even though we could pay this shortage up front, they have decided to spread it over 12 months and once again raise our monthly mortgage payment. We've communicated with them by email and phone multiple times. We keep getting the same computer-generated letter stating they are working on this. We are eligible to delete our escrow account with our mortgage lender and pay these items ourselves due to the equity we have in our home per our loan terms. Balance in our escrow account to be refunded to us immediately. Again, back and forth with communication regarding this. I've called again this morning and once putting in my info to be transferred to a customer service rep my call gets re-routed through the automated answering service. Called back a second time and didn't put my info in and finally got someone. I explained why I was calling, once again on a recorded line per the representative. He stated he would put me on a brief hold to look into this. 38 minutes into my hold time, I was hung up on. I also spoke with our attorney this morning who is also having trouble reaching this company. Please help with this matter.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30157
Submitted Via: Web
Date Sent: 2023-06-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-26
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: In accordance with the fair credit reporting act, Shellpoint Mortgages Servicing, has violated my rights. 15 USC 1681 Section 602 : States I have the right to privacy. 15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish an account without my written instructions. 15 USC 1666B : A creditor may not treat a payment under an open-end consumer credit plan as late for any purpose.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 19083
Submitted Via: Web
Date Sent: 2023-06-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-26
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the fair credit reporting act, Shellpoint Mortgages Servicing, has violated my rights. 15 USC 1681 Section 602 : States I have the right to privacy. 15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish an account without my written instructions. 15 USC 1666B : A creditor may not treat a payment under an open-end consumer credit plan as late for any purpose.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 19083
Submitted Via: Web
Date Sent: 2023-06-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A