Product: Mortgage

FORMAL CFPB COMPLAINT SHELLPOINTS ADMITTED ERROR, FAILURE TO RESOLVE, AND CFPBS INACTION * * Company : * * Shellpoint Mortgage Servicing * * Submitted by : * * XXXXXXXX XXXX XXXX * * Location : * * XXXX XXXX, California * * Issue : * * Deceptive loan servicing, expired offer, refusal to correct error, emotional and financial harm, and lack of CFPB intervention -- - * * To the Consumer Financial Protection Bureau, * * We are submitting this formal complaint to report * * Shellpoint Mortgage Servicings ongoing misconduct, admitted servicing error, and refusal to take accountability * *, even after we proved their mistake. In addition, we are extremely disappointed with * * CFPBs continued pattern of closing our cases simply because Shellpoint responded * *, regardless of whether they resolved anything. 

Shellpoint has caused us * * unnecessary debt, emotional distress, and XXXX XXXX * * and they continue to avoid responsibility even after admitting wrongdoing * * to HUD * *, not us. 

-- - # # # SHELLPOINT ADMITTED THEIR MISTAKE BUT NOT TO US We are attaching a written communication from * * HUD Housing Program Specialist XXXX XXXX * *, dated XX/XX/year>. In this email, she confirms that Shellpoint * * admitted they made a mistake handling our case * * specifically regarding their offer of a Standalone Partial Claim after forbearance. 

> The servicer acknowledged they never should have advised the option of paying a lump sum to lower the past due amount to allow for the Standalone Partial Claim. [ ] This issue has been addressed and coaching provided to avoid miscommunication in the future. 

While Shellpoint admitted this mistake to HUD, they have : - * * Never contacted us to admit it directly * * - * * Never apologized * * - And * * never offered us a corrected or improved resolution * * even though their mistake is what caused this hardship This shows a clear pattern of * * internal damage control, but no external accountability * *. 

-- - # # # WE FOUND BETTER HELP BY CONTACTING HUD OURSELVES NOT SHELLPOINT We want to make it very clear : * * we found real help on our own. Shellpoint did not help us. * * We contacted * * HUD ourselves * * and spoke with * * XXXX XXXX XXXX * *, who helped us understand what Shellpoint refused to explain. 

XXXX XXXX confirmed that, based on HUD guidelines, we could pay a * * lower amount * * approximately * * {$14000.00} * * and resolve the issue * * without having to agree to Shellpoints only option, a XXXX modification * * with higher interest that would trap us in long-term debt. 

This is critical : * * Shellpoint never told us this was possible. They insisted the XXXX term was the only solution. That was false. * * Had we not taken the initiative to reach out to HUD ourselves, we would have accepted XXXX unfair, misleading terms based on their mistake. 

-- - # # # THE ORIGINAL OFFER WAS IMPOSSIBLE TO ACCEPT AND THE EXPLANATION WAS UNCLEAR On XX/XX/year>, Shellpoint employee * * XXXX XXXX * * sent us an email offering a * * {$3500.00} FHA Partial Claim * *. The problem? The email stated the payment was due by * * XX/XX/year> * * over * * XXXX weeks before the email was even sent * *. 

This made the offer * * impossible to comply with * * from the start. 

When we later spoke with XXXX XXXX on the phone, * * she did not mention the offer at all * * we had to bring it up ourselves. She then appeared caught off guard, placed us on hold, and returned with a higher amount : * * {$5700.00} * *. She attempted to explain why the amount had changed, but her explanation was vague and unclear and in the first place, * * she had no intention of mentioning the offer until we confronted her about it. * * We asked for the * * call recording * * to confirm what was said. Shellpoint has refused to release it. 

-- - # # # WE WERE FORCED TO BORROW {$14000.00} BECAUSE SHELLPOINT REFUSED TO DO THE RIGHT THING Because of Shellpoints mistake and refusal to offer a better resolution, we were * * left with no choice but to borrow {$14000.00} * * just to avoid the XXXX modification they continued to pressure us into. 

We were forced into deeper financial hardship, not due to negligence on our part, but because of Shellpoints * * miscommunication, dishonesty, and unwillingness to correct a mistake theyve already admitted to. * * -- - # # # SHELLPOINT PROMISED US A NEW POINT OF CONTACT BUT NO ONE EVER REACHED OUT Shellpoint also told us that we would be assigned a new loan point of contact ( XXXX ) to guide us through this process. * * No one ever contacted us. * * Despite multiple requests and follow-ups, we were left with no assigned XXXX, XXXX communication, and no assistance. Out of desperation, we decided to reach out to this new contact ourselves. * * Yesterday, we sent a message and ccd Shellpoints Loss Mitigation and Servicing teams. As of this writing nearly XXXX XXXX in their time zone we have still received no response. * * This is a company that knows we are facing * * potential foreclosure * *, and yet they * * wont even respond to their own borrower * *. That is completely unprofessional and unacceptable. 

-- - # # # WE REQUESTED FORBEARANCE IN GOOD FAITH SHELLPOINT TURNED IT INTO A NIGHTMARE We reached out to Shellpoint in good faith and requested forbearance during a time of financial hardship, hoping to stabilize our situation and protect our home. 

Instead, Shellpoint : - Offered * * expired, invalid terms * * - Gave * * false payment deadlines * * - Pressured us into a * * predatory long-term modification * * - Refused to release our call recordings - Never followed through with assigning us a real point of contact - * * And ignored us completely when we tried to resolve things professionally * * The entire point of loan forbearance was to protect us. Shellpoint used it against us. 

-- - # # # THE TOLL ON OUR FAMILY Because of Shellpoints actions, * * my husband and I have suffered extreme stress, XXXX nights, and constant fear of losing our home. * * They have shown no care, urgency, or responsibility even when their own mistake put us in this position. 

-- - # # # CFPB HAS FAILED TO INTERVENE Every time XXXX submitted a complaint, * * CFPB has closed the case because Shellpoint responded * *, regardless of whether the issue was resolved. 

We have * * never been contacted by CFPB * *, never been asked for additional documents, and never been offered real support. If all a company has to do is reply with a generic letter, * * whats the point of filing a complaint at all? * * -- - # # # WHAT WE DEMAND We are not asking for favors. We are demanding accountability. 

We formally request that CFPB : XXXX. * * Reopen and escalate * * all previous complaints regarding Shellpoint XXXX. * * Formally request and review * * Shellpoints XX/XX/year> call recordings with XXXX XXXX XXXX. Investigate Shellpoints expired and invalid offers, unresponsive staff, and misleading only option language XXXX. Hold Shellpoint accountable for * * admitting fault to HUD, but doing nothing to make it right * * XXXX. Require Shellpoint to offer us a corrected, borrower-focused resolution that reflects their admitted error XXXX. Take enforcement action to ensure this kind of treatment does not happen to another homeowner again -- - * * Shellpoint made the mistake. They admitted it. They ignored us. They caused us harm. Now its time for someone to hold them accountable. * * Please see attached proof email from HUD rep. 

* * Sincerely, * * XXXX XXXX & XXXX XXXX XXXX, California