Product: Mortgage

Complaint against practices of Newrez LLC. 

Newrez LLC XXXX XXXX XXXX XXXX, SC XXXX NMLS ID # XXXX Hello Regulatory Agency, On behalf of my and my wife, I am writing today to file a complaint against my current ( as of writing ) mortgage servicing company Newrez LLC ( Newrez ). The subject of my complaint revolves around 1 ) substandard, dubious and deceitful claims and collection practices ; 2 ) unreliable, untrustworthy, and dismissive communication. More below on this below. Please investigate and audit Newrezs practices, claims, and customer communication and cases. Something suspicious appears to be happening. 
Newrez has been the servicer of my mortgage loan since XX/XX/XXXX after closing on my house purchase. Since the beginning, communication with Newrez has been inconsistent and stalled. Newrez does not appear to listen and address any of issues brought up. My various phone conversations with customer service ( CS ) associates and written communications show this. There appears to be no care to address the concerns of the client. As Newrez is very keen to point out, these calls are recorded. Ive been patient and respectful. However, Newrez not the associates personally has not extended the same courtesy. 
My issues are as follows : 1 ) Misleading payment and collection claims. Newrez lies about how their payment system applies payment. 
I have a complaint with Newrez regarding this ( complaint case ID : see attached ). As of XX/XX/XXXX my last call to Newrez, this is still unresolved. When Newrez became my servicer, I set up Newrezs bi-weekly payment option ; very generally, it spreads the monthly balance due over the month, paid every two weeks. In my initial call with Newrez on this, I asked the customer service associate about how this works. The CS associate explained me how it works and the form. I asked the CS associate, explicitly, about how third payments would be handled. The third payment is about months where they would be an additional payment made due to the bi-weekly payment schedule. However, at the same time, that months regular balance would be already paid for. 
For example ( not actual information ) : XX/XX/XXXX. My monthly payment due is {$2000.00}. The bi-weekly schedule has payments scheduled automatically on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. Each scheduled for {$1000.00}. By this structure, the monthly payment is fulfilled by payments from XX/XX/XXXX and XX/XX/XXXX. The third payment of the month XXXX XXXX would be extra. On top of the regular monthly payment. 
I asked Newrez about this kind of situation. The first CS associate told me in this cases the third payment would be intended to be applied automatically to the Principle. This information was consistent with other sources. I proceeded with setting up bi-weekly. 
Some time later, the first third payment occurred. However, the third payment was not applied automatically to my Principle. I had to call and request a manual move. When I called Newrez again, I was told that they would look into it. I patiently waited. Regardless of my patience, as if in contempt of me, the third payments did not automatically get applied to my Principle. Instead, the third payments simple sat on my accountas if I was a payment ahead. I called multiple times afterwards. The CS associates were unable to tell me why it wasnt work. They were also unable to provide consistent information. One CS associate said, the third payment is based on a count system, where the XXXX and XXXX payments by count are applied. Another CS associate told me something similar to the first associate. While a different CS associate was as informative. This lack of consistency is ridiculous. This is Newrezs payment system/structure! Yet, their own people do not seem to know how it works. In my most recent call with Newrez ( XX/XX/XXXX ) the CS associate showed great understanding of my situation. However, she couldnt help. I tried getting a supervisor ( seeing as this was my 6th or 7th call ). I was unable to get a supervisor to assist. All the supervisor provided was additional inconsistent information. I opened a complaint ( complaint case ID : see attached ) on this back in XX/XX/XXXX. It has been over a month. According to the associate on my ( XX/XX/XXXX ) call, there has been absolutely not communication or additional development. No indication that Newrez is looking into it and to communicate with me. 
This is absolutely unacceptable. This is their payment system for customers! I have brought up an apparent problematic issue with it. Newrez has shown no knowledge or concern for the issue. A problem with their payment affecting customers. Newrezs response is to ignore. They can not ignore this! Ignoring it would be fraudulent. Fraudulent because they are causing me to pay more in interest than I would/should be if it operated correctly. This because by being broken, my payments intended by me to pay my Principle sooner are being rejected. Slower payment of Principle means the interest payments are higher. A third payment was applied to Principle at the beginning of the year would saved me interest over the year compared to if it was applied to Principle in XXXX. By being bi-weekly payment being broken, Newrez is forcing me to pay more. Newrezs seeming refusal to acknowledge, communicate and address this suggests to me they are willingly ignoring this issue. If that is the case, Newrez is complacent in fraud, stealing my money. 
I can call Newrez and ask for my third payments to be moved to principle. I have on a couple of occasions. However, the information presented has been that I shouldnt have to. Newrez has the right to collect my mortgage. It does NOT have the right to collect any more than I am required to paid under the terms. I am trying, effusively, with the rules to pay. Disheartened, frustrated, I am being scammed and robbed by Newrez. 

2 ) My communications with Newrez are mediocre at best. For any objective other than charge the customer, Newrez customer service does not really exist. 
The customer service associates do their best to answer my questions based with the training material they are handed. Most of the time, they appear to understand the issue. However, Newrez itself does not make any effort ( from what I can see ) to address the issues or questions. Actual, functional problems are ignored. My complaint above 1 ) is one example. Another example is regarding a conversation about insurance. I had multiple calls and emails with Newrez about the need to an insurance document and how it relates to my house type. I brought a seemingly redundancy and tried to discuss this with them. Again, they associates assured me they understood what I was saying. They stated the Newrez would look into it. However, after many attempts by me to come to a logical resolution, Newrez ignored the topic and my issue. Everything I said was seeming discarded in the information they provided me ( which was more or less the standard information from the website ). Newrez repeatedly states they are looking into it. However, I have never received a follow up to discuss the issue I raised. Newrez only sent me redirects to the same information Ive read. Information Ive discussed already with them. My experience is this : Newrez send the customer in circles and delays any real effort. Again Newrez trying to ( scare ) me into paying for something whilst completely disregarding anything I am saying.

Please investigate and audit Newrezs practices, claims, and customer communication and cases. Something suspicious appears to be happening.