Consumer complaint received 2023-09-15
Company: Shellpoint Partners, LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
Sub-issue: Delays in the application process

Complaint:
XXXX XXXX XXXX, XXXX XXXX XXXX XXXX. 
XXXXXXXX XXXX XXXXXXXX Fax XXXX XXXX Cell XXXX XXXX XXXX XXXX Re : Complaint XXXX XXXX, XXXX. 
XXXX XXXX and XXXX XXXX XXXX XXXX. XXXX Property ; XXXX XXXX  XXXXXXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX  On behalf of my clients, XXXX XXXX XXXX and XXXX XXXX, I would like to file a complaint against Newrez, LLC. * My wife and I have been customers of Newrez, for over four years, they hold a mortgage on one of our properties, a condominium located in XXXX XXXXXXXX XXXX 

We entered into a contract to purchase another condo in felt that as we had a track record with Newrez, they would be a good Mortgage company to apply to for our mortgage on the property we contracted to purchase. 

We signed a contract to purchase the property on XX/XX/2023, with a closing date for cash on XX/XX/2023. We contacted Newrez and applied a few days later. We sent them a copy of the contract and they were well aware of the closing parameters. We understood that they would be able to process a loan in 30 days, which would have been before XX/XX/XXXX, and Newrez to settle with us would have given us a margin of time to close on XX/XX/2023. 

Our application was for a 20 % cash down and a mortgage for 80 %. Newrez processed our account under the name of XXXX XXXX XXXX, and XXXX XXXX XXXX. XXXX XXXX application was not acted on because of his age ( 81 years ), but XXXX XXXX received a tentative approval on XX/XX/2023. She was told the mortgage would have to be in her name only. 

It is my belief, and I am filing this complaint because, the company turned me down because of my age which is XXXX. 
___________________ Newrez continue to ask for many documentations, sometimes the same request was made after we complied, two or three more times and for the same documents. We were always told that they just needed a few more days. Our closing came and went and because they did not approve or disapprove our loan application, we lost our basic deposit of {$5000.00}. We also lost another XXXX XXXX for appraisals and application to the condominium association. I made a demand to Newrez, to settle with us for {$6000.00}. It was never addressed. 

We never received a rejection or approval of our application. I believe that we were discriminated against because of my age and that they did not comply with their own in-house review of our application in a timely manner. We believe that they were stalling the loan. The loan processor we dealt with was XXXX XXXX ( contact information : XXXX XXXX XXXX XXXX XXXX XXXX XXXX Phone XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Address XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, XXXXXXXX XXXX  XXXX ). 

I am interested in pursuing this complaint for my wife and my self, also as the executive director of a large pro bono law firm that provides legal services to those who can not afford an attorney. If this mortgage company will treat people like my self and my wife, XXXX XXXX XXXX XXXX XXXX how are they treating the average American. My agency has defended a number of suits against Newrez and Shellpoint, their sister mortgage service company, and we have a very good track record defending folks against these corporations. 

If you need any documentation will be happy to provide them, I have a complete file of all emails and documents that were involved in this transaction. 

Be Safe and God Bless, XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX

Company response to consumer: Closed with explanation