Product: Mortgage

I am writing to express my ongoing concerns regarding my loss draft claim with Newrez. As described in a prior complaint with the XXXX, I requested an inspection on XXXX XX/XX/XXXX and despite being told that I would be contacted by an inspector within 2-3 business days I was not contacted until XXXX XXXX XXXX after many failed attempts to get Newrez to have their inspector contact me. The inspection was scheduled and completed on XXXX XXXX XXXX. On XXXX XXXX XXXX, I inquired about the status of the report and the release of the remaining settlement funds in the amount of XXXX. I was informed by a loss draft representative that the inspection report had not been received. I inquired about how long it takes for them to receive the inspection report and I was told 2-3 business days. I then pointed out that it had already been 6 business days. I was told to follow up in 48hrs. On XXXX XXXX XXXX, I was told that the report had been received and that after it was processed the remaining funds would be released and I would receive the check within 7-10 business days. On XXXX XXXX XXXX, I received notification that the inspection report was uploaded to my portal and after reviewing the report the inspector estimated that 70 % of the work had been completed and 2 to 3 weeks would be required for completion. On XXXX XX/XX/XXXX, I received notification from the portal that a check was issued for {$560.00}. On XXXX XX/XX/year>, I followed up with the loss draft department and inquired about why the full amount wasnt released after I was told on XXXX XXXX that the remaining funds would be released. I was informed that the process to get the remaining funds was getting the completion % from XXXX XXXX XXXX XXXX XXXX. I inquired about how it would be possible to go from XXXX XXXX XXXX XXXX XXXX completed with {$560.00}. I was not provided with a logical explanation but I was told the process was to do more work, get to a higher completion %, request an inspection, and then more funds would be released. I pointed out how It took over 2 months to go through the inspection process and that their inspector stated that the work could be finished in 2 to 3 weeks and that if I had to continue to go through this process it could take 6+ months based on how long the current inspection process was going. I then inquired about the increased % process since I had not been previously informed of it before and because I was told the remaining funds would be released. I was then told that the process was outlined on the monitored claims procedure. However, after reviewing the procedures the specific process was not outlined in the document. I immediately called the loss draft department back. This time I was told I would have to get to XXXX XXXX completed before remaining funds would be released. I pointed out that this process of getting to a certain % of completion was not explicitly defined in the monitored claims procedures and that I had been told different things each time I called. First it was all the funds would be released, then it was XXXX XXXX complete, and now it was 100 % complete. I inquired about what % I was supposed to get to from XXXX XXXX  with an extra {$560.00} and a logical answer couldnt be provided. I inquired about how it would be possible to get to XXXX XXXX complete if they were withholding the remaining funds and a logical answer couldnt be provided. I inquired if it made sense for me to go through additional inspections to get the remaining funds if it took over 2 months to go through the inspection process after their inspector said work could be completed in 2 to 3 weeks and a logical answer couldnt be provided. So I asked to speak to a supervisor and still no logical answer to this process could be given. I was told they were following federal regulations and that this process was implemented because people had previously taken settlement checks and walked away from their home loans. I pointed out that I had already used $ XXXX of the funds to do repairs and that more supplies had been purchased as shown on pg.19 of the inspectors report and that if my intentions were to keep all of the funds and walk away it wouldnt have made sense to use any of the $ XXXX toward repairs. I was then told that I could have my contractor do a materials list so that it could be provided to management so that additional funds could potentially be released but there was no guarantee. I pointed out that estimates for repairs were already done and that they had a copy of the claims adjusters report from my insurance company with the repair cost. I was then told I could contact my Processor directly through my insurance portal and I have yet to be contacted by my Processor after leaving 3 comments this month requesting that I be given a call. Also, I have uploaded a materials list. I kindly request your immediate attention to this matter to facilitate the release of the remaining funds in the amount of XXXX so that all of the repairs can be completed. I have already experienced tremendous delays in this process and the continued delays are resulting in a significant loss of rental income. I have been at XXXX XXXX  completion since I requested an inspection on XXXX XX/XX/XXXX which was confirmed by your inspector, and based on your inspectors two to three week completion time I have now lost out on 3 months of rental income totaling {$22000.00}. 
Lastly, during the previous response to my XXXX complaint something was done to my credit regarding my home loan. There is a statement on pg.2 of the response stating As of the date of this letter, the loan is due for the XX/XX/2024 monthly installment of {$5200.00}. And another statement stating that Newrez LLC dba Shellpoint Mortgage Servicing is a debt collector. This is an attempt to collect a debt and any information obtained will be used for that purpose. The letter is dated XX/XX/2024, why was something done to my credit for a payment not due until the following month? My mortgage is current and I havent missed a single payment, please remove anything added to my credit regarding this matter!