Product: Mortgage

HELP! Predatory/Misleading/Fraudulent Practices committed by : NewRez dba Shellpoint ( XXXX ID XXXX ) AND the creditor on this loan ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX for XXXX XXXX XXXX XXXX ) COMPLAINT : I currently have a DSCR loan with NewRez dba Shellpoint Mortgage Servicing. The property was previously my primary residence but is currently vacant as I am selling it and under contract to close this month. The original closing date was XXXX, XXXX but is being delayed due to several factors the seller is having that is not related to this complaint. My complaint is regarding NewRez dba Shellpoint Mortgage Servicing. 

XXXX XXXX, XXXX I requested forbearance of the monthly loan payments for a period of XXXX months due to financial hardship and the fact that I am under contract to sell and have many other expenses related to the sale of the property. After many emails back and forth to try and reach a person, I was given the contact person, XXXX XXXX at Shellpoint. I continually asked for status of an approval over several emails and I was finally told in an email from her on XX/XX/XXXX of the status, after more than a month of communicating with this person and this was what she said exactly : " I was just about to reach out to you to advise you has been approved as of today. 
This is the remark from the Investor included on your approval : Three-month FB for sale of the property on XX/XX/XXXX is approved. If the sale does not go through the borrower will have to reinstate in full by XX/XX/XXXX. 

That's it. That was the whole approval and there was no further information. I was not given any real guidelines in the email and received nothing in writing such as a letter of forbearance, nor were the terms of the forbearance made clear and all I received from Shellpoint in the mail were normal statements but saying nothing about my forbearance. So I emailed her back on XXXX and I asked what the terms of the forbearance were. She did not respond for 6 days and then on the XXXX she emailed me back at XXXX and stated the following : I am in not able to provide any document regarding your forbearance approval. You are welcome to reach out to our Loan Servicing Department at XXXX to request documentation for the forbearance approval. '' When I reach out to that department the same day I was told by that department that they could not provide me with any information regarding the forbearance and that the only person who I could communicate with about it was XXXX XXXX! They also indicated that I could reach out to the commercial department but I never received any response from them either. So at the recommendation of my attorney, on XX/XX/XXXX I asked XXXX XXXX for a payoff letter hoping that there would be some information contained in that. Her response : " Sorry to hear you have not been able to contact us. We have been out of the office for the past XXXX days. I submitted your request for the payoff. It will take XXXX business days to be emailed to you. I requested it to be good through the end of XXXX. '' Again still no information about the forbearance terms and conditions! 

I received a payoff letter dated XXXX XXXX, XXXX and it said in this statement that I now owed an additional {$27000.00} of " Default Interest '' with no other explanation! This amount is not included in the accruing normal interest during the forbearance period. That day I IMMEDIATELY called them to get some information and spoke to a rep by the name of XXXX XXXX who told me over the over the phone that NO, I was not responsible to pay that default interest if I paid in full by the end of the forbearance all three months that are due. So I emailed XXXX XXXX and asked her about the default. I received no response from her so I emailed her again on XX/XX/XXXX saying that the closing date is very close and I need the information! Again I received no response until XXXX DAYS LATER, as follows : " I apologize about the delayed response. I have been out of the office. The XXXX you are referring to works in the same department as I do. I see the note on the account states she provided you information stating the default interest should not apply during forbearance. I apologize, that is not correct. Her email address is XXXX. Unfortunately, the default interest is not going to be removed per the information provided by management. The terms of the contract state if you go beyond 30 days without making the payment then the loan is subject to the default interest. You are welcome to submit a request through hardship application to the investor to ask them to consider removing the default interest from the payoff. This would require you to complete a hardship application and return it along with your last XXXX bank statements for submission. Paying the monthly payments would stop the default interest from continuing to accrue but the only way to try and remove it would be through the process I advised of in the previous email. Once receive the information we will immediately submit to your investor and explain the situation. '' I replied the next day ( XX/XX/XXXX ) and told her that I was never told about this " Default Interest ''. This was the email I received XXXX hours later at XXXX XXXX on XX/XX/XXXX, as follows : I attempted to reach you by phone to discuss the information my supervisor provided me when we reviewed your loan for the default interest waiver request. She advised we would not be able to submit the request to waive the default interest because this Investor would require you to go through what is referred to as a Short Sale process. 

The Short Sale process would mean you would have to be referred to the Short Sale Department. Also, you would not be able to profit from the sale in any manner. I did locate the previous Purchase Agreement you sent me in XXXX. 
Per the purchase agreement you provided in XXXX, you will gain a profit of {$130000.00} from the sale of the property. Which means you would not qualify to have the default interest waiver or the Short Sale program. That being said, the amount on the payoff statement would stand and you would be responsible to pay the amount owed to pay the property in full. '' I emailed her back on XX/XX/XXXX the same day and have since attempted to email and call her again and I have received no further response. I called ALL the phone numbers listed on ALL documentation received from Shellpoint on statements and in letters and no one will give me any information on this forbearance. When I call XXXX XXXX directly at her direct line as well as her office line it only says that she is unavailable. 

My understanding of a 180 day forbearance period per XXXX XXXX is that regular monthly interest would continue to accrue during that time but that no additional fees are supposed to be applied during that time period. If additional fees applied they should have been disclosed at the time of approval but they never even gave me a letter or terms of it at all except this XXXX lady 's emails with copy and paste of her managers response. It is so unprofessional at best and dishonest and misleading at worst. If my forbearance period is XX/XX/XXXX - XX/XX/XXXX then it would stand to reason that I am CURRENTLY still in forbearance. It appears to me that this is deceptive, predatory lending and misleading as they are trying to force me into a short sale so they can either take my property and/or force me to pay an additional amount of money for no reason other than greed! My property is still set to close this month and I am scared that I will lose the property itself OR all the profit from it because the end of the forbearance might be XX/XX/XXXX per the emails. I know that the CFPB holds mortgage lenders, servicers and other banking institutions to strict guidelines in order to protect consumers. My case is clearly cause for concern. 

PLEASE HELP ME!! 

I have attached the email threads as well as some of the most recent documents from Shellpoint.