Consumer complaint received 2024-01-29
Company: Shellpoint Partners, LLC
State: MT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process
Sub-issue: Escrow, taxes, or insurance

Complaint:
My mortgage had been sold multiple times without issue. However, when Shellpoint bought my mortgage, they continue to charge me the same price as the previous mortgage company. However, they did not pay my insurance. My homeowners insurance continued to notify me that my coverage had lapsed, and I continued to pay back months of missed payments in order to keep my coverage current. Shellpoint kept applying my escrow that they were charging me to there in house insurance. I had my insurance, XXXX, repeatedly send proof that I was maintaining the home insurance that they had let lapse. I have never been reimbursed. Ive been paying double insurance. I was paying out of pocket to XXXX and Shellpoint was forcing me on their in-house insurance, this has gone on for a year now. They will not change my escrow even though I paid in full XXXX year homeowners insurance through XXXX. I have spoken with them repeatedly. They have told me that I have to write them and request to have my insurance removed from escrow. I have written them three or four times now. They have given addresses, which I had written and mailed, I wait a few weeks or a month to see if they received it just to be told me that the other customer service agent that I had spoken with gave me the wrong address or the wrong department. I have written, I have emailed, I have faxed my request, each time I write it is to the address which they have given me. And theyve given me more than one. And then theyve given me fax numbers to use which I try. And then theyve given me email addresses which I have sent emails. They never acknowledge receipt of any of my correspondence. I have asked them for a name in which I could send it in attention to someone specific and send it certified mail and receive a signature of receipt ; they tell me that is impossible because there are too many people in the department. They do acknowledge that they do now show proof of insurance. They have acknowledged the proof of full coverage of my property. However, they will not remove it from my escrow and they will not acknowledge receipt of any of my handwritten letters to the various addresses that they have given me nor my emails or my fax requesting that they remove it. They simply will not acknowledge receipt. Therefore they will not remove my insurance from the escrow and I am still being charged. I have checked into my Taxes. And the amount that they are charging me can not be accounted for by my taxes. My taxes are not that high. Ive been XXXX and year in taxes so an extra XXXX dollars every month can not be attributed towards my taxes. They have acknowledged seeing that I had been paying for my XXXX Insurance at the same time they were providing me with their own in-house coverage, which I never requested. They have acknowledged all of this. But they do not reimburse me. They keep telling me I have to get it from my insurance company because at the time they didnt show the proper proof. Yet they continue to charge me in my escrow account as if, Im still paying a second insurance. They will not work with me in good faith. This is gone on for over almost a year now. It is costing me over {$200.00} a month paying for this extra insurance. They told me that I need to collect the lost money from my insurance agency. They said my insurance company did not send them the proper documentation. My insurance company told me multiple times they had sent all the documentation. I have had people in their department acknowledge that yes they have received proof of my insurance, but evidently the information never gets to the proper people and I continue to get charged. They will not reimburse my loss. And if I insist on only paying for my loan, the principal, the interest and the taxes for my escrow they turned me over to collections or a threaten my credit, and send me a late fee charge. So I have to pay in order to preserve my credit. My mortgage had been sold through XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX, never have I had a problem with my escrow. My insurance always carried over when my mortgage was sold. When Shellpoint bought my mortgage, they collected for escrow, but did not maintain my insurance then used my money that I was sending for insurance in my escrow for their in-house insurance which they themselves told me was lousy insurance and didnt cover anything and was far more expensive. I had at one point said fine just use my escrow money to pay for your in-house insurance and they told me that I really didnt want to do that because it was far more expensive and covered nothing except for what would cover their company and none of my losses only for their company. I tried desperately to maintain the insurance that Ive had for XXXX years with XXXX. I do currently have XXXX Insurance. I have paid out of my own pocket for this coverage. And Shellpoint still continues to charge my escrow account for some other insurance.

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