Date Received: 2023-04-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX I closed on a home ( XXXX XXXX ), with taxes and insurance not subject to escrow. By XXXX, XXXX the loan had been sold two times ( meaning, the third servicer by XX/XX/XXXX ), with the final servicer listed as Shellpoint Mortgage. 1. I received notice of the transfer to Shellpoint at the end of XXXX, by which time I had already paid the XX/XX/XXXX payment to the 2nd servicer. Well, in midXXXX I received a notification of late payment from Shellpoint indicating failure to pay the XXXX payment due. I called and advised the payment was made to the 2nd servicer, and Shellpoint did not provide adequate notice to me regarding the transition in order for me to direct funds to Shellpoint ( additionally, the notice the company originally provided stated the company would coordinate with the 2nd servicer if I already made payments to that servicer ). 2. I received notice at the end of XXXX that the company needed satisfactory evidence of insurance, which I did have established at the time of loan closing. I submitted the evidence of insurance, but a few months later received notification the evidence was incorrect. I submitted evidence again, but was then advised my name on the insurance policy did not match the name on the loan ( the policy did not have my first name, but just had my middle and last name, while the loan documents contained my official legal name ). I contacted the Shellpoint to discuss the issue and was advised my insurance policy had lapsed in coverage, which surprised me as I paid for the full year of coverage at loan closing. After discussing the issue further, we realized Shellpoint used the insurance information provided by the closing lender rather than reviewing the Settlement statement which contained the actual insurer. You would think the servicer would use the Settlement statement as the basis for determining insurance ( and the nature of the loan transaction! ). XXXX. I coordinated with Shellpoint and the actual insurer to provide the necessary documents ( corrected name and certificate of insurance ). The insurer provided the corrected documentation. 4. At the beginning of XXXX, I received notification Shellpoint had placed insurance on the mortgage due to the company 's determination of lack of satisfactory insurance for the XXXX period. Despite having a call with the insurer and Shellpoint ( see XXXX ) Shellpoint advised the insurer what was required, and the insurer provided the documentation, Shellpoint then decided the documentation for XXXX was actually not sufficient. Instead of contacting the insurer to clear up the issue, Shellpoint added the insurance for XXXX period. I advised Shellpoint there was a discrepancy with the forced placed insurance, but I never received contact from the company to address the matter ( nor did the company contact the insurer ). 5. Today, I contacted Shellpoint because the issue is still not resolved, 2 months later, and the company will not remove the insurance. I spoke with a servicing manager ( insurance ), as the customer service representative was little help and we were disconnected twice. This company should not be servicing loans. Either it does not have sufficient personnel to support the servicing, or it does not have effective processes and systems to facilitate servicing ( note : I mention systems, because the organization had a system update a few months ago and when I attempted the make a loan payment, the system did not recognize my mortgage information and I was locked out ). When I contact the organization, they do not appear to be familiar with the loan history. I don't know if Shellpoint outsources the loan servicing or it really is an ineffective service in-house.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30101
Submitted Via: Web
Date Sent: 2023-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-14
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: XX/XX/XXXX To CFPB, I am a victim of predatory lending from XXXX XXXXXXXX XXXX and I need your assistance to get this issue resolved. I am at my wit 's end with it. I've seen it fallen through the cracks despite the fact that XXXX XXXX was found to be in violation of the SEC rules in defrauding the investors and paid {$28.00} millions of dollars in fees. The loan that was issued on my house was at the other end of that spectrum while the investors were at the starting point with XXXX XXXX linking us both. This type of loan was the perpetrator of the XXXX housing crashed when thousands and thousands of homeowners have lost their houses and the investors their money. XXXX XXXXXXXX stood in the middle defrauding both the investors and the homeowners to its advantage by keeping the homes and sold them off in foreclosures for fast money and keep the profits to issue more loans. I've tried since XXXX to get this issue resolved with payments and or I could have resumed making payments under a proper loan structure with them and or with the 6 other banks that my case was transferred to over the years but all I have ever encountered was NO or a silent treatment. This could have been resolved within XXXX months the most. However, it has lasted for 16 years because they were either shut down by the government or have gone bankrupt or merged while Ive been charged with the fraudulent amount of the monthly payment with no taxes and insurances compounding in an exorbitant amount of fee accompanied with exorbitant miscellaneous fees that amounted to {$770.00}, XXXX and counting for a mortgage loan in the amount of {$250000.00}. While the loan kept on getting transferred from XXXXXXXX XXXX to the next and XXXXXXXX XXXX to the next, the people in charge from the very beginning were all the same till now, 16 years later. There is no excuse for that to happen. It has happened because their agenda was to keep charging me a gigantic amount of money that I wouldnt be able to get out of. This was done with malicious intent just like the loan was initiated with malicious intent to defraud homeowners like me. Each time my attorney contacted me for updates, they were instructed to wait because they were in bankruptcy or this or that. I shouldnt have been charged while they were the ones who have kept me waiting. As per uploaded documents, I refinanced a loan on my house in XXXX with XXXX XXXX XXXX XXXX ( AKA XXXX XXXX XXXX ). However, XXXX years into the loan it was accidentally discovered that the loan was of predatory nature. Then the loan was rescinded in XX/XX/XXXX to XXXX XXXX and to XXXXXXXX XXXX as the servicer. Therefore, per the Truth-in-Lending law back then before it was amended, no payments were to be made while in that process and no payment was ever missed to that either. Unfortunately both of them ignored the rescision letter that was sent to them. After the required time frame as mandated by the truth-in-lending has passed, I contacted XXXX to verify the status of that rescision letter but no representative couldnt tell me anything at all as my account was moved to another department. I got transferred from one department to the next from one representative to the next and nobody knew nothing about the loan or the account. It has taken about 6 weeks until I was able to get to talk to the person in charge and was told it was that they didnt care about the law and all they were cared about was getting paid. So, I offered to bring my account current by paying in full the missing months, I was told that it was too late no payments will be accepted from me and that the foreclosure process was already initiated and that my house will be taken away from me and put up for auction and I will be put on the streets. There were no notice of foreclosure or remedies or questions asked about why no payments were made. They just went straight ahead and put my house up for auction. It wasnt sold because there was no buyer. This year, they did put up for auction again as of last XXXX in the amount of XXXX. I had to file for a XXXX XXXX bankruptcy to stop the sale when I didnt have to do so because I have had no other debts. I shouldnt have to lose my house because I didnt structure the predatory loan. I was not the loan officer. I shouldnt have to lose my house because I was forced to a debt of a gigantic amount of money by them. They have orchestrated the non-payments. Law is to be followed. I followed the law of the Truth-in-Lending, therefore, I shouldnt be punished for following the law. The loan issued was a never ending loan. Unfortunately back then, I didnt know how to read these mortgage papers and was not told that there will be a balloon payment of the principal to pay in full on the XXXX year. Paying $ XXXX for 29 years with no taxes and no insurance and to pay the principal again on the XXXX year is no joke. This type of loan is ruining the economy of the country and the people. I was told that the amount of fixed for 30 years for the loan to be paid off. Please assist. I understand this has to be sent to the lender which is now NewRez LLC. Again this will go on death ears. I have made them an offer of $ XXXX which is more than the value of the house just XXXX get this issue resolved and avoid having my house going to foreclosure, and be with a local lender so if anything arises I can go and speak to someone fact-to-face. Unfortunatley I got denied by NewRez LLC. They said that they do not negotiate and that the full amount of {$770000.00} at the present time and or more dependent on the date the payment will have to be made to satisfy the loan of {$250000.00}. I have spent roughly {$50000.00} in the home to keep it in good shape in replacing necessary things that were needed despite going through all the ordeal with them. I have done so because I didnt do anything wrong to lose my house to them. They have perpetuated the non-payments by refusing me to catch up on them in the very beginning of the issue because I though maybe they didnt receive the letter. If so, then, Ill be in trouble. I love my house, I care for it, and I appreciate having it. It is my sanctuary, my work place, and where I keep my family safe. Paying for it has been my priority. Now due to the judgement, lien, foreclosure, and bankruptcy, I have become an ineligible to rent. It is also hard to pay {$7000.00} +/mo for the house to fulfil the bankruptcy. This is the payment of a house valued at 1mi+ of dollars. NewRez LLC request is outrageous because it is based on a predatory loan structure that is continued as such. Therefore, the predatory nature of the loan is still continues to haunt me down until my blood is complete sucked away out of me. As a customer, I should not have to be put in such a situation. These banks are using their attorneys to XXXX XXXX money from the people. Something needs to be done about this. Im just one case that you may have heard of. Im sure there are thousands of homeowners who might have been in such a situation if they are not in one actually. Are these banks above the law? Although the Trut-in-Lending law was amended in XXXX, my issue has started in XXXX before the amendment and should have been grandfathered in. Loan Amount : {$250000.00} XX/XX/XXXX Amount of financed : {$240000.00} Amount credit will cost : XXXX Total of amount to pay after all payments were made as scheduled : XXXX Monthly Payments for 29 years : {$2400.00} approximately Balloon Payment at maturity date : {$180000.00} - XXXX/XXXX/XXXX BANKS : 1. Loan Originator : XXXX XXXX XXXX ( XXXX ) -Closed by the XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) - XXXX. XXXX XXXX XXXXXXXX -Closed by the SEC XXXX XXXX XXXX. XXXX XXXX XXXX ( XXXX ) Bankrupt - XXXX XXXX. XXXX XXXX that loan on XX/XX/XXXX after it was assigned to it by XXXX to it on XX/XX/XXXX XXXX. XXXX XXXX XXXX XXXX 6. NewRez LLC XXXX - Active and stated XXXX XXXX is the originator. XXXX XXXX was never the loan originator. XXXX XXXX was. NONE OF THESE BANKS HAVE A BRANCH IN THE STATE. THEREFORE, NO FACE-TO-FACE COMMUNICATION CAN BE PLACE TO RESOLVE THIS BIG ISSUE.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: UT
Zip: 84601
Submitted Via: Web
Date Sent: 2023-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Sold the house on XXXX with escrow balance approximately {$1900.00}. Mortgage company said they would send balance of escrow by check within 30 to 60 days. Never received it. Mortgage company then said they would resend the check in XX/XX/2023. Never received it and still haven't received anything as of XX/XX/2023. Here 's an idea, send the check with tracking ( USPS or XXXX or XXXX ) so you can prove you sent it and see where it really ends up. Why does it have to be this complicated. Running out of patience. Somebody please help!!!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32725
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I am writing as a follow to the dispute I submitted to my mortgage company, Shellpoint, on XX/XX/23 regarding the inaccurate reporting of my loan account balance and status of late/current payments to the credit bureaus. Below I've outlined the discrepancies I am finding on my credit report as cited by all three credit bureaus. Please refer to the attachments for reference. -As of XX/XX/23 XXXX was reporting that my account status from Shellpoint had not been updated since XX/XX/23. The outstanding balance was incorrect ( {$240000.00} instead of {$230000.00} ). It also reported that I had a past due amount of {$7300.00} which is not accurate. According to my records and my online Shellpoint account, I have a XXXX past due amount. -My XXXX account is now showing that my account was last updated on XX/XX/23, but the outstanding balance is still incorrect ( {$230000.00} instead of {$230000.00} ). I have been told by Shellpoint employees that my credit is updated every single month. As you can see, that has not been the case. I also have late payments showing ( see attached ) that were a result of waiting for Shellpoint and the HALF program to exchange data so HALF could make a payment on my behalf as I had to apply for assistance due to work loss because of the pandemic. I was assured that waiting for the payments to be processed and sent to Shellpoint would not affect my credit as the funds were promised and available, but the HALF program had to wait for Shellpoint for months to send the correct files that HALF requested to distribute the designated funds. -I began calling Shellpoint repeatedly to expedite the data transfer so the payment could be sent to which I was told " There is nothing we can do to make this go any faster ''. I challenged that if the delay is on the end of the mortgage provider, the client should not be penalized as I had no control or say as to when the payment was made. -I continued to call repeatedly to discuss these concerns in an attempt to obtain correct information as well as ensure that working with the HALF program would not affect my credit and have gotten a myriad of answers/non-answers, none of which have been consistent or apparently accurate. The above details are negatively affecting my credit report dramatically. -Currently my credit score is in the " fair '' zone, and I can not get accepted for a loan of any size or APR because of the low score and reported late payments. All of the payments have been made in full as of XX/XX/23 which is reported on my online Shellpoint account. -I have been told that Shellpoint will accept the payment from HALF, but will not correct the late payments that appear on my credit. -The seemingly lack of training Shellpoint customer service representatives is concerning. I've been told something different by just about every single person I've spoken with. I've been told " there are no managers or supervisors '' which is clearly not accurate as I was transferred to one on XX/XX/23 after filing a formal complaint. I've been told to " sell your house if this is a problem '', " It's not our fault the HALF program doesn't know what they are doing '', and " don't worry, because you have this agreement in place and we are aware of it and in close contact with HALF, this will not affect your credit in anyway ''. When does Shellpoint start taking responsibility for the inaccuracies instead of taking the " we've done nothing wrong '' approach and passing it on to their customers?
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NH
Zip: 03801
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I was under a covid 19 forebearance program. I was contacted in XXXX of XXXX that I had to make a payment of over {$50000.00} to bring my account current. No other amount will be acceptable. It took me just under 60 days to sell belongs cash in CDs ask family and friends for help and of course had to go to zero expenses to raise the money.My wife and I did and paid it current in XXXX of XXXX. The amount paid was {$53000.00}. On my credit report I notice that I was charged a 90 day lateness in XXXX of XXXX and a 90 day lateness in XXXX of XXXX. This has done tremendous harm to me because my insurances, all of them are going up, and it makes it impossible for me to get a mortgage, lease a car as that payment amount is unaffordable, or take advantage of deals that require a store card. I want to refinance a property to get money to get caught up on my bills. I have a ton of equity just no cash. Will not qualify for an FHA manual underwrite because of these latenesses. I contacted shell point and I am told they have been asking for the money since XX/XX/2022. I was able to get the statements they claim to have sent me. I never recd a statement from them in XX/XX/2022 nor XXXX of XXXX. Secondly, how can they ask me to go from no payments for the past 10 months or so to a XXXX time XXXX plus payment, and accept no other amount as a payment option. Thirdly, they reported me 90 days late in XXXX. The first payment statement they said they sent was in XXXX. How could XXXX be 90 days late? That would mean I should have gotten a statement in XXXX of XXXX, which even they admit to not sending me. I feel that my credit report is not accurately reflecting this account. There is no payment being asked of my until XXXX on the credit report. On the credit report it states that amount is {$1700.00} is due in XXXX. I have statement that the payment amount being asked was over $ XXXX. In XXXX it says amount due is XXXX my regular payment and reflects the {$53000.00} payment bringing the account current. The account statement for XXXX states over $ XXXX is due. Lastly the XX/XX/XXXX late has to be removed because they only sent me a statement in XXXX according to them, so how could XXXX be 90 days late? XXXX XXXX 90 day lateness should be removed for 2 reasons. First is they never notifed me that an amount was due until XXXX. Second reason is the latemess and credit report make it appear that a {$1700.00} payment was not made in XXXX when that was not being asked of me. I was asked to may over $ XXXX. And because asking someone like me to come up with {$50000.00} cash today is very hard.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 10308
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Acct # XXXX I have tried numerous times to reach out to Shellpoint mortgage to escalate the payments from XXXX. These payments are sent every month at the end of the month for the following month. I am now missing two payments. The payment for XXXX sent to previous mortgage company ( XXXX ) received on XX/XX/22 was a missing payment that has never been applied. I was told previously by XXXX XXXX that this was found and going to be applied but never has. This has caused my account to show 60 days late. The current payments that are being sent are taking 30 days to be posted to my account as well. I have tried reaching out and explaining this but get no response as to when this matter will be handled. Since this missing payment has never been applied it is causing the payments coming through to post to the month prior.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: FL
Zip: 338XX
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-11
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage company New Rez grossly mismanaged my escrow account and continues to owe me money for these mistakes. After trying to get information from them 3 months I filed a letter for Request of Information and was assigned a person to help figure this out and get my money back. So far the mortgage company has admitted to paying twice for a parcel that was not mine. After notifying, the company that my taxes had not been paid in XXXX, the company sent a check to the correct parcel number but it was rejected due to improper amount ( the bill was late and had additional fees ) but I was unaware of this. I received a certified letter from the tax office for unpaid taxes and threats to seize my house. When I notified the mortgage company, they sent an additional check to the tax office. I then went to the tax office to make sure my taxes were paid, but they had not been. I wrote a personal check to pay taxes and penalties. Since then, I closed my escrow account and have been trying to get my money back. The mortgage company has identified the two payments paid to the wrong account and one of the correct but returned payments. They state that the second payment was accepted after I made the payment. The tax people say that did not happen and the check would have been returned to the sender. I want answers and my money back.
Company Response: Company believes complaint is the result of an isolated error
State: LA
Zip: 70454
Submitted Via: Web
Date Sent: 2023-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-11
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My loan was purchased by another loan company after closing without my consent. I am a XXXX XXXX XXXX veteran, tax exempt in the state of Texas. The new mortgage company said I owed taxes for 2022 which I am exempt. They paid city taxes, etc. I sent over letters from the county appraisal district and the County tax office stating I was and am exempt from property taxes, school taxes, and district taxes. My mortgage company states since they paid the taxes they must wait for the county tax office to reimburse them before adjusting my loan payments. Currently the mortgage company increased my monthly payment {$2100.00} to pay for negative escrow and refuse to adjust although the county tax office has sent letters and assurances they will reimburse the payment made. I am a XXXX XXXX XXXX veteran on a fix income and cant afford to keep making an additional {$2100.00} on my mortgage as I have been since XXXX so I dont get late payments on my credit report.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77546
Submitted Via: Web
Date Sent: 2023-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-11
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Our mortgage lender Shellpoint has been hard to work with and have blocked review of our documents and started the foreclosure process against us even though we never missed a payment. I am a retired veteran and have a VA loan and I have been told that they are required to work with us and not shut the door. Shellpoint to date has failed to conduct a proper review of our current and correct financial information and rushed us to foreclosure. A few months after we closed on the house XXXX shut down our whole area and my daughter XXXX XXXX lost her job. As a result she and her family ended up moving into the home as well and began helping us with the mortgage payment. She was sending money orders to the servicer at that time XXXX but in XX/XX/XXXX her husband had lost many hours also due to Covid and we contacted XXXX and they gave us a three month forbearance through the XXXX program. My daughter then resumed making payments on the loan directly through her XXXX XXXX account until she was a victim of bank fraud. Since that time she was in contact directly with XXXX and now Shellpoint regarding this matter and has tried to resolve matters but tells me they are giving her the runaround. After the 3 month forbearance she was making monthly payments from her bank account and in XX/XX/XXXX she found out through the XXXX fraud department that the bank account had been hacked and that the fraudster disputed the mortgage payments and a total of {$990.00} was reversed and put back into the account and then the fraudster did a transfer out of the account through payment app to steal the funds for months of aug-nov. XXXX received {$540.00} for each of these months and they kept this amount. XXXX called in to XXXX and told them what had happened with the fraud on the account but XXXX told her we were not late and that everything was fine and she made the December 21 monthly payment which XXXX accepted. In early XXXX XXXX finally realized there was a problem and my daughter went back and forth with them repeatedly. Her bank had verified the fraud and the {$990.00} that had been pulled from XXXX was sent back to them ( she has all of the transaction records ). But the loss mitigation people at XXXX did not acknowledge that the funds had been sent back and started us on the path to foreclosure and would not accept our regular monthly payment and began charging us crazy late and legal fees. We tried to get XXXX to work with us but we have not been successful. We request a full and complete accounting of all payments received, all payments reversed, all payments credited to the account as well as a listing of all fees that have been charged by XXXX and now Shellpoint. We have tried to apply for modification but were told on one occasion that the proper documents were not sent in on time, a different time they said denied due to lack of income. My daughter and my family are stuck in a constant whirling request of documents needed, documents received but lost, conflicting information. We received a letter on XX/XX/XXXX that said since we did not respond to the XXXX letter offering help within 14 days we were going into foreclosure, even though we never received such a letter. Shellpoint took over then and immediately we were in foreclosure. We got letters that said " we want to work with you '' but they have given us the runaround and told us the only option was full reinstatement. Shellpoint has not completed a review for loss mitigation options based on the current and correct financial information for our household, where my daughter and her husband contribute towards the monthly bills. Shellpoint has failed to credit the money XXXX XXXX sent back to XXXX after they verified the fraud ( close to {$4000.00} ) and instead of offering options such as loan modification, recapitalization of arrearages, partial claim or deferring past due amounts or a repayment plan they are adding fees and putting us into foreclosure
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 609XX
Submitted Via: Web
Date Sent: 2023-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have contacted NewRez multiple times and my last attempt was XX/XX/23. When I sign on to their website it doesnt show my loan. When I select the option to find my loan I receive the following information an error as occurred or unable to locate the account. I have tried using different web browsers and mobile apps and XXXX cant access my mortgage information and unable to pay. I spoke with a representative who advised its a known problem but the mortgage company failed to notice me. I have paperless statements so when I received notifications to view my mortgage statement online I dont have the option. The representative sent me a copy of my XXXX mortgage statement but I want to know why havent this been addressed?
Company Response: Company believes the complaint is the result of a misunderstanding
State: DE
Zip: 19805
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A