Consumer complaint received 2022-04-19
Company: Shellpoint Partners, LLC
State: CT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Dear Sir or Madam, On XX/XX/XXXX I entered into a conventional mortgage with XXXX XXXX. The closing documents provided for a total monthly payment of principal, interest and escrows of {$2600.00}. The first payment was due XX/XX/XXXX. 
On XX/XX/XXXX I received notice from XXXX XXXX that servicing was being transferred to NewRez aka Shellpoint. 
On XX/XX/XXXX I submitted to NewRez their form for establishing biweekly deductions to be made for my mortgage payments. 
On XX/XX/XXXX I received email confirmation from shellpointmtg.com ( attached ) that monthly payment has stopped and biweekly payments have been set up. 
On XX/XX/XXXX I paid my XX/XX/XXXX mortgage payment of {$2600.00} by check to NewRez, which check was negotiated on XX/XX/XXXX. 
On XX/XX/XXXX I received a statement from NewRez indicating that my " Next Due Date '' was XX/XX/XXXX and that the amount due was {$0.00}. Statement attached. 
Between XX/XX/XXXX and XX/XX/XXXX I made numerous calls to NewRez servicing to inquire when biweekly deductions would begin and to verify that my XX/XX/XXXX mortgage payment would be applied timely from them. I was told that the biweekly payments were set up and that my XX/XX/XXXX payment would be applied timely. I emphasized that I was concerned because biweekly deductions were not beginning until midXXXX. My experience with biweekly mortgage servicing is that the payments are deducted in the month preceding the due date and applied in full on the due date. I was concerned the turnaround time was too short. I was assured that payments would be timely. I was told that NewRez would apply biweekly payments received AFTER the due date to the mortgage, and that they would be treated as timely. ( I could hardly believe this. ) On XX/XX/XXXX I received a statement from NewRez that my " Next Due Date '' was XX/XX/XXXX and the Amount Due was {$2600.00}. Statement attached. 
On XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, newrez made deductions of {$1300.00} from my account as directed by me in their biweekly payment form. PDF of ACH deductions to NewRez from my XXXX XXXX XXXX XXXX bank account attached. 
I logged in to NewRez 's website numerous times in XXXX and XXXX looking to see if a mortgage payment had been applied. A pdf of the displayed Payment History from their Payment tab is attached. It shows numerous " unapplied '' payments in varying amounts on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, as well as a " Principal Only Payment '' of {$2600.00} on XX/XX/XXXX. I have not tendered any principal only payments. I can not make sense of the entries on the Payment History available to me. 

Today, XX/XX/XXXX, I received an automated email ( attached ) from NewRez that states in part : " Please note : As of today, we have no record of receiving your mortgage payment. 
To avoid negative credit reporting and late fees, please make your payment as soon as possible. '' I immediately called NewRez. I was told by XXXX XXXX at XXXX pm Eastern time that the NewRez delinquent email was in error. He indicated that he would open a complaint for me. He told me he could not provide me a complaint number or any verification of the complaint. He told me that the pay history he saw showed that my mortgage was current. I recited what the pay history I saw online showed, and he stated that his history was different. 

I have NO written record from NewRez that my mortgage payments are current. 
I am VERY concerned about late charges and a negative credit reports. 

I am asking for your assistance in receiving the following : Confirmation from NewRez that my mortgage is current ; A response from NewRez retracting any report of delinquent payments to the credit reporting bureaus ; A clear explanation of how my biweekly ACH payments have been applied ; An explanation of the " Principal Only '' payment shown for {$2600.00} on XX/XX/XXXX ; An explanation of how my biweekly ACH payments will be applied in the future ; And an apology for my worry and wasted time. 

Sincerely, XXXX XXXX

Company public response: Company believes the complaint provided an opportunity to answer consumer's questions
Company response to consumer: Closed with explanation