Consumer complaint received 2021-01-16
Company: Shellpoint Partners, LLC
State: FL
Product: Mortgage
Sub-product: VA mortgage
Issue: Trouble during payment process

Complaint:
This particular situation started on XX/XX/XXXX. I informed our mortgage servicer New Rez that due to my husband 's XXXX XXXX XXXX XXXX status that was backdated to XX/XX/XXXX ; our property taxes were recently changed. I provided to New Rez a corrected copy of the tax bill provided by our local property tax collector 's office. This was uploaded electronically to New Rez 's online portal ; in which I received an automatic email that the company received my information and was reviewing it. I also received a paper letter in the mail about a week and half later confirming it was received and being reviewed. 

It's now XX/XX/XXXX and this company has REFUSED to make the correct, timely adjustments per our request. They have a fiduciary RESPONSIBILITY to complete such actions correctly and in a timely fashion. Furthermore, they have negligently and unlawfully increased our monthly payment instead of decreasing it. They were provided a refund from the tax collector 's office on XX/XX/XXXX in the amount of {$5400.00} ; completed the escrow analysis on XX/XX/XXXX incorrectly stating we were still being charged {$5400.00} for property taxes. They completely disregarding the CORRECTED tax bill provided to them back on XX/XX/XXXX AND the refund of overpayment received on XX/XX/XXXX. When I called in on XX/XX/XXXX about this specific issue ; I spoke with a supervisor by the name XXXX XXXX who stated he would get a 2nd analysis completed and it would be rushed. He requested for a copy of the VA letter in which I emailed this to him. The corrected escrow analysis was promised to me no later than Thursday, XX/XX/XXXX, again ; it's XX/XX/XXXX and NOTHING has been resolved. ( Please note ; I called in roughly 3-4 more time before this on different dates, got an array of various answers from different representatives which is why I requested to speak to a supervisor ; hoping for a higher quality of customer service and understanding ; I was let down ). 

In the escrow analysis that was mailed to me : New Rez stated there was an overage of {$2700.00} but has refused to disperse this partial overage. I called to find out why the check that was enclosed in the escrow analysis had " not for use sample only '' printed on it making it so I couldn't cash the check. The representative I spoke to tuesday XX/XX/XXXX stated she would request to cancel the check that they claim they sent out and request for a direct deposit of {$2700.00}. She also stated this would be in our bank account no later than XX/XX/XXXX. To date : no funds have been deposited into the checking account I provided over the phone. Federal regulations require ALL escrow overages be refunded back to the borrower within 30 days. I also don't appreciate someone taking down my sensitive, financial information and not following through. 

Seeing this company has FAILED to do their job correctly on MULTIPLE levels has left us, the borrowers completely in the dark in regards to our financial account ; stressed out ; and has resulted in complete distrust of this company to service our loan in a responsible and acceptable manner. I am tired of having to pay into an escrow when I have ZERO problems with paying my bills on time. We are also very particular about saving and investing whatever money we can to ensure our future is supported by a financially sound foundation. New Rez has inferred with our finances and has negligently raised our monthly payment to {$2800.00} when it should be {$2300.00}. This new payment is expected to take effect XX/XX/XXXX. We WILL not be paying this unlawful and negligent increase in mortgage payment. 

Today, XX/XX/XXXX : our current escrow balance sits at {$2400.00}. My insurance comes out XX/XX/XXXX in the amount of {$1900.00}. As it sits right now PRIOR to any other mortgage payments being made ; we have an overage of {$530.00}. Every payment paid starting XX/XX/XXXX going forward will only continue to unlawfully, collect WAY more than needed for our HOI and taxes. It is unlawful and unacceptable to negligently force borrowers to pay MORE than what's required ; especially when they have provided ALL documentation to support the original request submitted on XX/XX/XXXX to change the monthly payment. Our monthly payment should have been changed effective XX/XX/XXXX. We, the borrowers have given this company AMPLE amount of time to fulfill our request. We expected this to be an very black and white, simple request considering the evidence provided, along with the extremely large refund provided to New Rez from our tax collectors office on XX/XX/XXXX. 

The fact that New Rez has made ZERO attempts to get in contact with us, the borrowers after the initial submission is alarming. Since XX/XX/XXXX, not a single individual from New Rez has made a single attempt to speak with us to rectify the submitted information. Instead, I have made SEVERAL attempts to call New Rez, like to responsible consumer that I am to check in on this situation. Every single time I attempted to inquire and get information, I was told completely different stories. Either New Rez never received the information and on multiple occasions, I was reassured " We here at New Rez has received all the need information and we are working to get your escrow account corrected. '' This company needs a deep investigation if I am going to be completely honest. What I have had to endure is completely unacceptable. I wonder how many other customers get jerked around and treated in the manner we have been treated. If our escrow account is not reviewed and corrected funds are not received by XX/XX/XXXX ; New Rez will be in violation of Regulation Z. I will continue to write letters and have my voice heard as this entire situation and experience with this company has been by far, THE WORST customer experience I have ever received in all my 9 years of being a homeowner.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation