Date Received: 2023-04-30
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Dear Sir or Madam : I have twice submitted requests to my mortgage servicer, Newrez LLC, to have my escrow account for taxes and insurance deleted ( XX/XX/23 and XX/XX/23 ) as I believe that I now have sufficient equity in my home to obviate the need for said escrow account. However, my request was denied on both occasions ( XX/XX/23 and XX/XX/23 ) with the following reason the LTV ratio does not meet the minimum requirement for your state or property type Based on the above denial reason, I twice submitted follow-up questions to Newrez LLC XXXX XX/XX/23 and XX/XX/23 ) as follows 1 ) What is the current LTV ratio of my loan? 2 ) What is the minimum LTV ratio requirement to delete my escrow account? Since both of my requests were denied for LTV ratio reasons, I had assumed that Newrez LLC would have the answers to both of the above questions readily available. However, as of today ( XX/XX/23 ), I have yet to receive a response from Newrez LLC to either of the above questions. The silence has been deafening as it leads me to believe that Newrez LLC does not have any basis for continuing to maintain my escrow account but would rather continue to pad their balance sheet with my money ( and the money of other borrowers in my position ) rather than perform the proper due diligence to ensure that only borrowers with insufficient equity will be required to maintain escrow accounts with Newrez LLC.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: CO
Zip: 801XX
Submitted Via: Web
Date Sent: 2023-04-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-29
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Goldman Sachs is the owner of my mortgage and XXXX XXXX XXXX is the servicer. My mortgage has been transferred 4 or more times over the course of 15 years and recently twice in one year. There is a lot of confusion in the validity of my promissory note. I have reviewed my original Mortgage documents including the original promissory note and modification agreement back in XXXX and XXXX. I recently received requested documents from XXXX and documents after a CFPB complaint and after careful review, I noticed that my original promissory note and permanent loan modification documents are not the same. Appears there documents have been altered or tampered with question the validity of my promissory note and modification agreement in XXXX. The correction of my name without my acknowledgment or initials. The notarizing of the documents without my presence. Most Importantly the unfair terms in the entire note and agreement including interest rate renders the promissory note simply invalid. This was during the time of predatory lending right before the housing crisis and bailouts. Lending practices were being violated resulting in invalid promissory notes and mortgages. I would like for Goldman Sachs and XXXX XXXX XXXX to recognize the abuse and unfairness of the agreement and render the promissory note invalid. If we can not come to an agreement of some sort that satisfying to both parties then I have not other recourse but to seek legal redress.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: SC
Zip: 29063
Submitted Via: Web
Date Sent: 2023-05-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-30
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We mailed a R.E.S.P.A. qualified written request for information per 12 USC and 15 USC in relation to a purported position as a debt collector for a mortgage debt. NewRez XXXX Shell Point Mortgage have not provided the information as required by law. This letter was mailed certified mail on XXXX to which NewRez had 30 days to respond with information. It is XXXX ( roughly 80 days ) later and we have not received information. NewRez is legally required to provide this info per Dodd Frank Act, 12 USC, 15 USC
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WI
Zip: 53202
Submitted Via: Web
Date Sent: 2023-04-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-28
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: Hello, Reference complaint XXXX which has been responded to but the company ( NewRez LLC - XXXX XXXX XXXX XXXX ) has not done what it said it did. I am owed a refund of {$420.00} for an appraisal fee. The company ( NewRez LLC - XXXX XXXX XXXX XXXX ) states that a refund of {$420.00} was sent to my original charged credit card on XX/XX/2023. I contacted my bank ( XXXX XXXX XXXX XXXX XXXX XXXX ) which has no record of the transaction. ( NewRez LLC XXXX XXXX XXXX XXXX XXXX ) claims. While they provided a copy of a credit voucher receipt which I provided to my bank. As stated XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX can find no record of that transaction. This leads to the possibility of one of two conclusions : 1. ) NewRez LLC is claiming a transaction and has provided a receipt either in error or on purpose to support the claim of a refund that did not occur. 2. ) The refund in question was sent to another account by mistake. I contacted NewRez LLC after having provided the receipt to my bank and my bank stating they could not find that transaction. I asked via email that NewRez LL ( Customer Advocacy ) to verify the supposed credit voucher was sent to the correct account. I have received no reply from NewRez LLC over that request. I can only conclude that NewRez LLC believes they don't have to respond. That is why i am filing this updated complaint to the original one ( XXXX ). As before I can not count on NewRez LLC to respond in good faith unless a complaint is filed with CFPB.
Company Response:
State: NM
Zip: 87144
Submitted Via: Web
Date Sent: 2023-04-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Shellpoint Mortgage took over as the servicer for my mortgage in XXXX of XXXX. Since then, I have not been able to log into my online portal to review, pay or change my loan. After many phone calls over the last 8 months, they have been unable to fix my web portal. With my previous loan servicer, XXXX, I was on a forbearance program due to losing my job during the XXXX pandemic. When Shellpoint took over my mortgage the continually mishandled the forbearance. They repeatedly told me over several months that I was not on a forbearance program and every time I had to correct them. When the forbearance program ended, Shellpoint did not contact me in the same way that XXXX was handling the forbearance. Because I was not able to use the web portal and the lack of communication from Shellpoint, I missed the first payment because I didn't know when the forbearance ended. Shellpoint then reported me to the credit bureaus as almost {$28000.00} past due late on my payments, and reported my principal as {$30000.00} more than the actual amount. My loan principal is now being reported higher than the amount the loan originated at in XXXX. Customer service can not do anything to fix any of my issues. The " Loan Servicing '' department under no circumstances will communicate directly with customers and as I'm told they are the only ones able to fix loan issues.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OR
Zip: 97756
Submitted Via: Web
Date Sent: 2023-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: They are holding my insurance claim money. I do not have the money to fix my home and then wait for them to send an inspector before they will send me my money. It's ridiculous! It has been almost 2 years since XXXX XXXX devastated our area. It's a shame we have to fight with the insurance companies and then fight the mortgage company to fix our property. My claim was {$42000.00}, the insurance company subtracted {$18000.00} for recoverable depreciation and sent me a 2 checks totaling {$24000.00}. Then the insurance company went bankrupt. My contractor has done most of the repairs to make the house livable, yet they want him to completely re-sheetrock the entire house. My hands are tied until I get my money.
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
State: LA
Zip: 70364
Submitted Via: Web
Date Sent: 2023-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Due to a house fire we were nonrenewed by our insurance company. We had a very difficult time finding replacement insurance coverage because 1 ) the claim was still open, 2 ) the claim was very large, and 3 ) the house was unoccupied ( because it is being rebuilt ). The only insurance company we could find that would write our policy required immediate payment to bind the policy so my husband put it on our credit card. The policy was extremely expensive - $ XXXX - but we paid for it on our credit card. NewRez got a copy of the policy and, even though we had paid for it up front ourselves, has been escrowing for that amount ever since. The first time I called, on XX/XX/XXXX, I was told that NewRez paid for the policy premium themselves. Which is incorrect. I double checked with the insurance company and they tell me that they didn't invoice NewRez and that the payment they have on file is from my husband. I called back on XX/XX/XXXX with this information and was told that to go to the website and request that escrow account be removed. I followed the representative 's specific instructions to go to the " Contact Us '' form, choose " XXXX XXXX or XXXX '' for what is your questions about. Then choose the drop down for " Requesting my escrow account be deleted ''. I followed her instructions WHILE ON THE PHONE with her. The website says I'll have a response in XXXX business days but I only got an automated email, immediately, that acknowledge activity on their website. I heard nothing for more than 20 days. Then when I called to ask the status I was told they had no record of my request, that I actually have to submit that request in writing ( new information to me ), and that it will take XXXX - 45 days. I explained the situation in detail, including the fact that these were not the instructrions previously provided and I was given no recourse. When I asked to speak to a manager and asked why, if the rep had told me the wrong instructions, and if I had submitted it incorrectly on a website that said I would have a response in XXXX days why no one had contacted me to tell me that I needed to submit it in writing. They made NO ATTEMPT to help me with my problem, my request to the website went UNADDRESSED for more than 20 days, and the manager not only told me there was nothing he could do, but he ADDED MORE INSTRUCTIONS to what I needed to do including that not only do I have to submit the request in writing but I also need to include a copy of a paid receipt for the insurance. SOMETHING NONE OF THE OTHER REPS had mentioned. So again, they have been aware of the issue that they are taking an extra $ XXXX of my money to sit in an escrow account, on a policy that I have already paid for myself, they gave me INCORRECT instructions on how to rectify the situation, and now they're telling me to start all over so they can sit on my money for an ADDITIONAL 30-45 days. This company continues to find new ways to hold my money and make interest off of it, while I have to apply for additional loans to cover my expenses.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 980XX
Submitted Via: Web
Date Sent: 2023-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I had XXXX defaulted modifications, I was given assistance from the state to bring my mortgage current. During the defaulted modifications my interest rate went from 4.125 % to now 5.250 %. My issue is that even after I have reached out and disputed this with the servicer, they will not change my interest rate back. They have merged with another servicer during the time of this but I never finalized any modification nor signed any paperwork to finalize it. I have started one but never made the three trial payments on time due to not being affordable as each and every time the amounts had gone up and two I have never signed documents to accept and finalize a modification. Therefore my interest rate and payment should still be what it was prior to all this. Now my loan is current thanks to the help of XXXX XXXX the servicer still refuses to take my claim seriously and change my rate back to what it was for the sole fact that my payment would drop approximately {$300.00} a month and make it actually affordable for me. I could understand this if I singed, returned, and finalized any modification but did not so I still don't understand how or why my rate has changed.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 080XX
Submitted Via: Web
Date Sent: 2023-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have been trying to set up bi-Monthly payments with them, however, they are not affording me the opportunity todo so. I requested an email to print out the form to sign, since they claim that legally, they have to.. even though I can call them at any time and make a payment over the phone. Never got the email, so I had them mail it, never reviewed it in the mail. After several calls, I finally got the supervisor on the phone and they sent me an email. However, after clicking g the link in the email, a message popped up that I did not have permission to view the document. If I set up these payments, they wont make as much money in interest in the long term. So, I believe what is going on has to be illegal. If I manually do the payments myself, they will hold the first one till they receive the second, so I accomplish nothing. I have never had this issue before with any other mortgage company. I am being misled constantly on this matter by them and I hope I can get this resolved.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75002
Submitted Via: Web
Date Sent: 2023-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: To : CFPB We feel that the mortgage company Newrez has not acted in good faith and purposely been taking extra Escrow funds. They continue to not acknowledge or properly add my name to my deceased father 's mortgage. He died in XXXX. However, they still have his name on the account even though the house is completely and legally in my name with the county. It says " Est of ( and his name ) '' The difficulty is that we've purchased the home insurance coverage which is under my name as the owner. However, when it comes to pairing the insurance and mortgage they fail to acknowledge the difference and next purchased they're own lender-placed insurance coverage for the property. Once we realized this back in XX/XX/XXXX, we contacted Newrez and informed that of the insurance information with XXXX XXXX XXXX. In fact, we had the XXXX XXXX representative talk to the Newrez Insurance Division, but later on we realize that they were still charging for the lender-placed insurance even after we informed them about XXXX XXXX and the fact that we no longer wanted insurance included in the Escrow because we just paid the insurance directly ourselves. Now in XX/XX/XXXX, we realize that they are still paying themselves the lender-placed insurance so we tried to complain several times but no one would correct the issue. Therefore, we just decided to pay the home off entirely instead of continuing to let them get the interest and fake insurance coverage. We submitted 3 payment to pay off the principal and close the loan. They accepted the first two payment totaling {$31000.00}, but when we sent the payment of {$40000.00} they originally accepted it, but a few days they returned the $ XXXX back to our bank and disabled the feature to pay online. We called to express our frustration but they would never let us speak with a manager despite several calls and leaving messages. We also submitted five formal written complaints on their website with no response. I am writing for your assistance and to inform other current and potential future customers of their dirty practices to steal and keep your money. We appreciate any assistance and support that CFPB can provide. The company Newrez can be found at newrez.com or XXXX. Thank you.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22193
Submitted Via: Web
Date Sent: 2023-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A