Product: Mortgage

Newrez is unwilling to complete a recast even though we have paid, and they have taken the fee. 

Loan number XXXX Customer service phone number used : XXXX XX/XX/XXXX : We sent an envelope via certified mail/return receipt to Newrez containing XXXX items : A check for {$420000.00} to apply to the mortgage and then recast it. A check for the {$250.00} recast fee. The signed, completed required form to recast the mortgage. 

XX/XX/XXXX : Both checks were cashed and posted to the account. The certified mail return receipt shows that XXXX XXXX received the envelope. 

XX/XX/XXXX : Attempted to use their chat system, which was not productive. I then called to confirm the correct payment for the month and was told that the recast form was never submitted. Then after being put on hold, I was told that they did in fact have it and everything was fine. 

XX/XX/XXXX : Called again. Repeat of being told that they did not have the form, but after being put on hold was told that they did in fact have it and the recast would be done the next day, XX/XX/XXXX. Was told that a ticket was opened, XXXX XX/XX/XXXX : Called again. Was told that they would escalate to the recast department. 

XX/XX/XXXX : Called again. Got handed off to XXXX XXXX in the recast department. She instructed me to fax another form. Unfortunately, my wife was out of town so I could not do that until XX/XX/XXXX. 

XX/XX/XXXX : Faxed a second copy of the form, marked as duplicate per XXXX XXXX instructions. A COPY OF THAT FAX IS ATTACHED TO THIS EMAIL. It includes the form, copies of the certified mail receipts from XXXX and confirmation from XXXX that the fax was received. 

XX/XX/XXXX : Called again. XXXX XXXX was not helpful. Told me that they dont have the form. He would not let me talk to anyone in the recast department. Told me that the recast department would call back. It is now XX/XX/XXXX and there has been no follow up from Newrez. 

BACKGROUND : This mortgage was originated by XXXX XXXX, XXXX XXXX  ( XXXX ). Closing was XX/XX/XXXX ( 6 months ago ). The current balance is {$160000.00} on an original mortgage of {$600000.00} and an appraised value for the property of {$800000.00}. XXXX immediately sold the servicing to Newrez/Shellpoint , and it has been one problem after another. Something is very wrong. 

In addition to this failure to execute the recast, in XXXX  months Newrez has : -- On XX/XX/XXXX Newrez sent {$2000.00} from our escrow account to XXXX XXXX XXXX, a company that we have never done business with. Newrez was very difficult to work with, and we resorted to reporting that problem to Massachusetts Division of Banks on XX/XX/XXXX. That problem appears to be resolved, though they refunded us twice and posted an extra distribution to fix it. We dont know how this will impact the next escrow analysis. 

-- On XX/XX/XXXX Newrez sent {$1200.00} to our current insurance company [ XXXX ] for a premium that was paid at settlement and is not due until XX/XX/XXXX. This did not show up as a payment from our escrow and Newrez denied having sent it. The end result was a {$1200.00} check from XXXX to us for overpayment. 

-- On XX/XX/XXXX Newrez posted a {$1200.00} Addl Ins premium Disbursement to an unknown entity, so it appears that they may have finally corrected this. We suspect that this is going to create another problem with the next escrow analysis. 

-- On XX/XX/XXXX Newrez send us a letter threatening to force place insurance on our property, even though the policy that was paid at settlement is still in force and is fully paid until XX/XX/XXXX. We believe that this has been resolved, but we have no confidence in information from Newrez. 

On XX/XX/XXXX we requested to end escrow for this mortgage. Newrez has yet to respond to that request. 

We have never dealt with a financial company that is this incompetent.