Date Received: 2023-05-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have an ARM serviced by New Rez/Shellpoint Financing. For almost 2 years towards the end of the fixed period, I received monthly letters from New Rez telling me that my interest rate could never go higher than 3.125 % or lower than 2.25 %. I believed this information to be correct as I received it monthly for so long and decided against refinancing and locking in while rates were so low as I believed I was capped at 3.125 % and refinancing is costly. It then transpired that all the letters I had received were incorrect and should have in fact said that my rate could never go higher than 8.125 % ... .a 5 % difference from the information I was sent for 2 years and that I based a huge financial decision on. While I should have dug out my original contract to check the fine print, as a single Mom who was working multiple jobs at the time, I was extremely busy and based my decision on the endless letters I was receiving every month from New Rez of which I still have copies. Despite the company admitting to their mistake, they tell me there is nothing that can be done and continue to try and charge me a rate way above 3.125 %. I have been disputing this since I discovered their mistake in XXXX, since when they won't apply my monthly payments that I have continued to make at the rate I had been paying, and are now threatening me with foreclosure as I won't pay a higher rate as it seems grossly unfair and a terrible way to treat customers. I work for a very large XXXX XXXX and would receive a conduct breach if I made a mistake like this and treated one of our bank 's customers in this manner. Instead I'm being bullied by a massive corporation who will increase their corporate earnings even more at the expense of a single mother just trying to get by. Thank you for your time.
Company Response: Company believes complaint is the result of an isolated error
State: NJ
Zip: 074XX
Submitted Via: Web
Date Sent: 2023-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-27
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I got sick in XX/XX/XXXX. I lost my job. I had XXXX and was out of work for months. From day one I have been in contact with my mortgage company. updating them monthly on payments or when i can make payments. i ended up being put on a forbearance. this helped me get some payments done. I was still unemployed. i called back to see if there was anything i could do. they told me i could apply for putting the past due payments on the back of the loan when the forbearance was done. i called back and was told the fha loans program had changed and i had to wait 90 days past due to apply for this payment assistance. At this point i was working and i had told them this. i wanted to start making payments but was told i wouldnt be able to get help with the past due if i dont let my account go 90days past due. i was very scared to do this, but did it. im not even to 90 days yet, that will be on XX/XX/XXXX. i called on XX/XX/XXXX and spoke with an advisor who took all my info for the form to apply for the assistance for putting payments on the back of the loan. i called on XX/XX/XXXX and was told that i was only able to apply for either the forbearance or the other program i couldnt do both and also 90days will show up on my credit. this is the first time hearing this. i was very upset. i asked to speak with the manager. i explained my situation and he told me i have a job and im unable to apply for ANY kind of assistance. i was very upset and was crying. this was extremely stressful for my situation. i called back and spoke with someone, she made one comment let me fix your notes not sure if she was changing my notes. then told me whatever the manager told you, is what you have to do. i asked again what were my options to get my account current and she said my ONLY option was to pay my mortgage. she told me personally if it was me i would be getting a loan or selling stuff, anything to pay my mortgage. she told me at the current date there was nothing i could do. i said at what date can i get assistance and she would not tell me. at this point i have talked to multiple people everyone says different things. this is going to effect my whole family and my health. i was told by this company to stop making my payments to be able to apply for help. this is not right! i have contacted an attorney for legal help because this is my first time owning a home, i dont want to lose my home. i thought by keeping in contact and explaining my situation that wouldnt happen. i dont trust them. i feel like im being punched. i also have names of the people i spoke with as well as the manager.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OR
Zip: 97230
Submitted Via: Web
Date Sent: 2023-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have a mortgage being serviced by Shellpoint Shellpoint Mortgage Servicing XXXX XXXXXXXX XXXX XXXX XXXXXXXX XXXX, SC XXXX There are multiple properties securing the loan, and I am trying to get a release ( payoff ) for XXXX of the properties since XX/XX/XXXX. Initially they gave me a payoff XX/XX/XXXX, but it was for someone else loan ( it had all their personal identifying info on it ). I since have been trying for a whole month to get a payoff, and I have no luck. They say they are waiting on the investor to give them the information. I try to call at least XXXX times a week.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 28411
Submitted Via: Web
Date Sent: 2023-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On or around XX/XX/XXXX I received notice that my mortgage servicing company, NewRez, didn't have proof of valid homeowners insurance for my property. A year earlier, I changed carriers and they claimed they got the cancellation notice for the old policy but never received the information on the new policy, even though they paid the premium for the new policy from my escrow account in the sum of {$1100.00} on XX/XX/XXXX. When I received that initial notice, I promptly called the servicer. The person I spoke with, XXXX XXXX, had me email him proof of insurance for the period covering XX/XX/XXXX through XX/XX/XXXX and the policy renewal information for XX/XX/XXXX through XX/XX/XXXX. He told me everything was all set. NewRez paid the premium for the renewal on XX/XX/XXXX in the amount of {$1200.00}. On XX/XX/XXXX, I received a letter from NewRez demanding proof of coverage for XX/XX/XXXX through XX/XX/XXXX -- proof I had already emailed on XX/XX/XXXX. The letter stated that if I did not provide proof of coverage immediately, I would be charged {$2500.00} for coverage provided by the lender.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: MA
Zip: 013XX
Submitted Via: Web
Date Sent: 2023-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: To whom it may concern, I have been a mortgage holder with " Shellpoint '' mortgage servicing a company of " Newrez '' for over a year now. I have my payments scheduled on auto pay since the beginning of my loan with them through my bank XXXX XXXX. All was well until XXXX for 2022, from my understanding " newrez/shellpoint '' changed their financial institution or their banking and since XXXX of 2022 i have been assessed a late fee on all my payments. Late fees range from $ XXXX $ XXXX a month since XXXX of 2022. I contacted Shellpoint about it, they claimed their XXXX XXXX XXXX payment was changed and a noticed was sent out to all mortgage holders about it ( i never received one, i get paper statements ). I went ahead and updated the XXXX XXXX XXXX on my bank. But still, nothing changed, i am still being accessed a late fee every month since then. Payments are due XXXX of each month, grace period is until the XXXX of each month for mortgages. After the XXXX of the month there will be a late fee, which i understand. My auto pay is scheduled XXXX of every month, but for some reason " Shellpoint '' is receiving my payments after the grace period. XXXX XXXX reps told my shell point is not doing electronic payments anymore, so they send paper check through regular mail. Considering extenuating circumstances at worst case, mail would not take more than 11 days to reach the mortgage company especially considering postal workers are working 7 days a week. I have contacted both institutions about this, " shellpoint '' says there is nothing they can do and " wells fargo '' has open tickets for it. Nothing has been resolved by either party. There is a deceptive act happening on XXXX or the other side.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91423
Submitted Via: Web
Date Sent: 2023-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX I asked to have a loan deferral with Shellpoint, Newrez and was finally approved until XX/XX/XXXX for a payment. In between that time I looked for assistance to help pay the loan and I found it with a state agency in my state of Nebraska ( NHAF ) a program that assist customers with a mortgage payments due to Covid 19 issues. I was eligible. They sent a combined payment to catch me up with the behind payments of approximately {$1200.00} dollars, Shellpoint sent the funds back stating that my insurance and property taxes were also behind. The state agency NHAF had paid the property taxes also and I had switched to a new homeowners property insurance which never lapsed but the new info didn't updated to the spec of Shellpoint. So, that was Shellpoints excuse to return and demand that an Escrow be setup on the account. Going forward the third party whom they agreed to receive payments from has been paying every month to Shellpoint but Shellpoint takes a long time in getting the payment posted to the account even though it gets received by their office, if they wanted it to go a specific person/area they could have told the third party who has copy of my invoice going to them and one that Shellpoint has been sending them now. I told Shellpoint that I would be paying my property taxes for the first of 2023 year before the due date of the taxes with my income taxes which I did and sent them proof of payment but by then Shellpoint mail a payment that did not get to the property tax office until after my payment was made so my taxes are paid up for the full year. Which if I want to sell my home I will now have a problem with overpaying either Shellpoint and them having a account setup charging interest which they are now because the escrow that they setup for the payment did not have enough money for them to draw funds to make the payment to the property taxes. So now I am told I have a deferred charge on my mortgage account, which will not reflect correctly a payoff balance to do a closing once I do try to sell. This means they have been getting more from the third party then is needed also. They sent me a letter saying if I did not want an Escrow that I could send a letter stating this fact with my signature. I did do that and then they declined to do so because they said my payments for mortgage and the property were late and they had to pay for them which, this was actually the first time that I was able to verify that a payment was received from them to my property tax department for my taxes. They had claimed they made a payment on my second half of last year 's property tax but it was researched by the tax department of the county assessor 's office and the payment was not received from Shellpoint last year just only for this year. Last year the second half of year property tax was paid for by the third party NHAF which the tax department verified. Shellpoint has also stated on a 1099 that they paid this but can'f send me the proof so they are taken credit for something that they did not do on a tax statement. They have also made negative remarks on my credit report by stating my mortgage payments of being late when they approved the deferral and it states that it would not reflect on my credit report and since they have refused the bundle payment from the third party NHAF to catch payment up back in XX/XX/XXXX that was just to justify that I the payment was later than the XX/XX/XXXX date of deferral.
Company Response: Company believes the complaint is the result of a misunderstanding
State: NE
Zip: 68111
Submitted Via: Web
Date Sent: 2023-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XXXX of XXXX I contracted XXXX XXXX. I am XXXX years old and have a chronic illness so it affected me pretty seriously. At that time, my loan servicer was XXXX and I requested and was approved for a XXXX XXXX XXXX in XX/XX/XXXX. The forbearance was only for XXXX and XX/XX/XXXX. In XXXX I was working with XXXX to repay the XXXX XXXX months through a payment plan. I submitted all requested documentation and was told they were in the " decision '' process. The only communication I received from XXXX after that was to inform me that as of XX/XX/XXXX they were transferring my mortgage servicing to Shellpoint. I was also assured that Shellpoint would be sent all my XXXX paperwork. I made my first payment to XXXX on XX/XX/XXXX. On XX/XX/XXXX I received a call from a Shellpoint representative telling me I was XXXX months behind on my mortgage and asking how I wanted to fix this. I informed her of the forbearance and she then offered me a XXXX month repayment plan contingent on my making another mortgage payment before XX/XX/XXXX I agreed to this resolution. On XX/XX/XXXX I received another call from another Shellpoint representative asking me the same questions as the previous rep had. I gave him the same info and told him I had already accepted a XXXX month repayment plan offer with Shellpoint at that time he said " Oh yes I see that now. I see what she did. Ok just make sure you make that payment before XX/XX/XXXX. '' I agreed to do so. On XX/XX/XXXX I made the second payment I did not receive a further email, phone call or text message from Shellpoint. XX/XX/XXXX I received a packet by certified mail from Shellpoint telling me I was now in default and had until XX/XX/XXXX to cure it. I called them immediately and spoke to yet another representative who now informed me that my payment plan was not approved because they " don't offer XXXX month payment plans '' I asked her how on earth I would know that if the rep offering it to me obviously didn't know it and that no one had ever contacted me to tell me it had not been approved or to offer me anything else. She apologized and then offered me a XXXX month payment plan I agreed... again. I was told that it typically takes XXXX days for approval. That was on XX/XX/XXXX it is now XX/XX/XXXX and my mortgage is still showing in default. My understanding of the XXXX XXXX XXXX protection plan was that I could not be forced to pay the whole thing back at once and that the servicer was required to offer options for repayment. I haven't been offered any options that were actually " approved '' and they defaulted me. XXXX and XX/XX/XXXX were XXXX months therefore I believe that I paid XXXX and XXXX and I should not be receiving certified mail threatening me with XXXX. My name is XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX ( cell ) XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 026XX
Submitted Via: Web
Date Sent: 2023-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XX/XX/XXXX follow up call to Shellpoint ( XXXX, XXXX XXXX, XXXX ) XXXX minutes ; XXXX ; I received yet another decline for PMI removal the exact same auto-generated letter I have received since filing other/earlier requests that does not address the newly renovated/increased market value of my house. XX/XX/XXXX, I called Shellpoint and spoke with supervisor XXXX who advised me that no one was looking at the request to remove PMI based on market value and that he said it was likely going into an automate response queue based on the XXXX. He said he would send an email to a supervisor in the PMI dept to specifically review my request within the scope of market value and I should be receiving an email with next steps that detailed how/when a BPO and Market Valuation would be done. I never received that email. Instead I received another auto-decline letter, dated XX/XX/XXXX and also XX/XX/XXXX, with exactly the same bulleted information that did not apply to my request for PMI removal based on the increased market value/post renovation work for my house. I called XX/XX/XXXX to XXXX, spoke w/the above referenced people who told me that my account was now flagged, that I did not qualify for PMI removal based on the HOPA. When they said that my account had been flagged it also had the connotation of a threat and that I had done something wrong or was not in compliance/current with my mortgage. When I asked for further clarity around that, they had no further comment about the flag and then also told me ( XXXX XXXX and XXXX ) that Shellpoint was required to only use the original value of the home for PMI removal. When I told them that I had challenged the decline ( twice in their portal in writing and several times on the phone ) and shared/cited the XXXX XXXX guidelines that showed I was likely eligible based on the letter generated from XXXX XXXX XXXX ( hold my note while Shellpoint services it ) after my $ XXXX renovation showing my home value at $ XXXX in the XXXX market XXXX they told me again they could not use any BPO or market value and Shellpoint had to use the original value. When I further explained that whatever internal guidelines they were using were NOT XXXX XXXX guidelines but FHA guidelines ( or some other arbitrary guidelines ), they repeated the same info. I then said that by telling me thisand by not using the guidelines that governed the terms of my mortgage- they were breaking the law as they did not get to make arbitrary in-house servicing guidelines around this and that each type of mortgage had nuances within their guidelines, they told me if I did not agree I could challenge it with them but it must be in writing. I let them know I had already done that but no one was addressing the scope of my request to remove PMI based on market value, they again repeated that the HOPA was what they used to determine and I could challenge it. I then let them know they were not abiding by the service guidelines of my XXXX XXXX XXXX and that by informing me otherwise, they were breaking the law and that they were also breaking the law by requiring me to put my request in writing ( again ) as it was determined years ago that verbal requests made by the consumer were required to be pursued with the same consideration as those in writing and this was put into effect/law due to the onerous tasking that mortgage servicers were putting onto consumers that forced consumers to either give up and/or allow servicers to delay their responses while they continued to soak up more of the consumers XXXX esp. w/re to PMI removal requests. I reiterated that my verbal request ( in addition to several in writing requests made through their portal to submit and then challenge all their many declines so far, which they disregarded in this conversation and told me didnt count because the most recent ( exact same ) response from them was the one I needed to challenge which is INSANE and keeps my requests in a never-ending zero response loop ), was sufficient. I continued to ask about next steps and request a BPO and even referenced the evaluation letter generated by XXXX post-renovation ( XX/XX/XXXX ) showing my home ( in their and my files ) at $ XXXX ( my mortgage is at $ XXXX now ). All operators on the call refused to pursue my request. They also refused to honor my verbal request to review the specifics of my request and refused to initiate anyone at Shellpoint from pursuing next steps ( eg, a BPO ). Different operators told me different things, even going so far as saying they did not have a PMI department and there was no such office. Incredible. I do qualify for PMI removal under XXXX XXXX guidelines. I do deserve to have consideration and specific review of my account and it is within my right as a consumer, and per the XXXX XXXX guidelines, for me to request this verbally and also have it be approved/removed. Shellpoints delays tactics, disrespect, misinformation and blatant disregard for the law and the XXXX XXXX guidelines which determine servicing of my loan by Shellpoint, can now only be seen as a willful disregard to abide by the law and soak the consumer for PMI / $ that is not due to them. My guess is that Shellpoint hopes I will give up and not pursue this. But they have screwed up my account and mortgage from day 1 of XXXX Loans transferring the service element to Shellpoint, XXXX XXXX, XXXX. Shellpoint needs to be sanctioned and fined for their willful disregard of the law/terms of servicing my mortgage. It is not unusual that servicers attempt to bilk consumers who may not know any better so servicers can clean up monetarily for years without anyone knowing any better : shameful, illegal and reprehensible.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 98133
Submitted Via: Web
Date Sent: 2023-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: NewRez did not pay my Washington XXXX DC property tax bill. I received a letter from DC stating that I was delinquent on my property tax and that my house would go up for tax sale by XX/XX/XXXX. I called NewRez on XX/XX/XXXX or XX/XX/XXXX. I explained the problem. We identified then that the problem was that NewRez had the wrong parcel number. I gave them the correct parcel number. At NewRez 's request, I uploaded the delinquency letter to NewRez 's website. I was told that NewRez would resolve the problem by XX/XX/XXXX and call me back. On XX/XX/XXXX, I still had not heard from NewRez. I called them back. They apologized, took the same information again, and told me that they would call me back. On XX/XX/XXXX, I still had not received a single email or phone call from NewRez. I called them back. They apologized and took the same information again. This time the person I spoke to seemed competent, and that person escalated me to a supervisor. The supervisor told me they would call me back by XX/XX/XXXX. I can not believe that NewRez failed to notice this problem. But mistakes happen. What is most galling is that in almost 4 weeks, they have never bothered to reach out to me once. I have to go through hourlong phone calls to try to get help. And no help seems to be arriving. Moreover, I have to navigate a phone menu where I have to make selections or provide information 12 (! ) times in order to reach a tax specialist. I have to enter the last 4 of my social. I have to enter the loan number ( twice! ). As soon as the specialisXXXX finally picks up, they ask for all of that information again. So each of my calls takes 10 minutes to reach a person ( if there is no wait time ).
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Im caught in the middle of a fight between Shellpoint Mortage Co and Georgia HAF approval. Please call me XXXX XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30052
Submitted Via: Web
Date Sent: 2023-05-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A