Consumer complaint received 2021-03-04
Company: Shellpoint Partners, LLC
State: WA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
The issue is that I paid off the Mortgage Insurance on my home loan and the mortgage servicer and the lienholder continued collecting the fee for the mortgage insurance premium for three months after the mortgage insurance was satisfied and have employed lies and misdirection in an effort to prevent me from recovering those fees. It should also be mentioned that their accounting practices are questionable. ( Please refer to # 8 and # 9. ) The mortgage servicing company is Shellpoint, XXXX XXXX New Rez. The lienholder is New Residential XXXX XXXX XXXX of XXXX XXXX XXXX, XXXX XXXX, PA. XXXX, XXXX as New Rez uses an address of XXXX XXXX XXXX, XXXX XXXX MI. 

1 ) I have an FHA loan. The FHA MI payment was {$86.00}. The total payment was {$740.00}. 

2 ) I received a letter from Shellpoint ( NewRez ) dated XX/XX/XXXX that stated that I had met all the requirements to terminate the MI payment. 

3 ) My October statement still had a line item for the mortgage insurance ( MI ) payment of {$86.00}. I called to inquire why the {$86.00} was still on my statement. I was told that MI is collected in arrears. I contacted HUD. They verified that information. 

4 ) On my XX/XX/XXXX statement the line item for the {$86.00} was removed but the payment amount remained the same - {$740.00}. I called again. I was told that no one had requested a review of my account to determine what the new payment amount would be. I asked what was going to happen to the overage - the {$86.00} - that I was paying. I was told that it would be credited back to me. 

5 ) My XX/XX/XXXX statement and my XX/XX/XXXX statements are the same. The line item for the MI payment is not there but Shellpoint continued to collect the extra {$86.00}. 

6 ) I called in XXXX about this and was told the reason that XXXX had not changed the payment amount was that my escrow account didn't have enough money in it. 

7 ) I checked the escrow account. The funds collected by XXXX have never been credited to it. 

8 ) I received an Annual Escrow Account Disclosure Statement from Shellpoint ( NewRez ) dated XX/XX/XXXX. This document contains a statement that my escrow account has a shortage and if I paid another {$82.00} to my escrow account that would clear up the shortage. I included the {$82.00} as an escrow only payment with my XX/XX/XXXX mortgage payment. I checked my escrow account. The money was credited to my escrow account and then removed the same day. There is no line item that explains the debit. 

9 ) The escrow account is current as of XX/XX/XXXX. The {$82.00} has been returned to the escrow account. Again, there was no line item for the credit. The money was simply credited. 

10 ) I filed a complaint with Shellpoint ( NewRez ). On XX/XX/XXXX I received a letter from Shellpoint ( NewRez ). The letter thanked me for my inquiry and informed me that the lienholder of my mortgage is New Residential XXXX XXXX XXXX. The next statement on the letter was " We are working together to gather the requested information and will forward it to you as soon as possible. '' 11 ) On XX/XX/XXXX I received another letter from Shellpoint ( NewRez ) stating that since I had not provided them with any further information they considered the matter closed. ( There is no statement in the previous letter requesting any further information. ) I have all of my statements, I have a copy of the deposits and withdrawals from my escrow account, and I have copies of the letters sent to me. I will be happy to share them at such a time that I am contacted with a resolution.

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