Consumer complaint received 2022-10-20
Company: Shellpoint Partners, LLC
State: MN
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
supplement XXXX XXXX life insurance is the OWNER of may loan the issue does not involve insurance. When they purchased the loan the servicing remained with Newrez llc. 

XX/XX/XXXX via website contact email as attachment ATTENTION : XXXX XXXX Compliance Department Shellpoint Mortgage Servicing A Copy of this email posted on CFPB complaint website under XXXX XXXX XXXX XXXX, investor/owner. I am impressed by the extra effort Shellpoint to show how hard it is to reverse a mere XXXX payments. Minimum of XXXX entries to reverse interest, minimum of XXXX entries to reverse the principal, this does not include the reversal of the reversal entries. Then the " revised '' XXXX entries and reversed reversal. ***** I do not accept your revisions. *****Your* response, dated XX/XX/XXXX, to the CFPB, complaint # XXXX, is a mis-statement of the facts and is riddled with errors. The following issues are primarily from the first two pages of your response. Flooding the CFPB with 22 pages of faulty data does not prove your* compliance to the terms of my contract nor does it address the issues stated in the original complaint. ***** MY contract with XXXX stipulates, specifically, that the payments are to be adjusted annually. Notice is to be sent to me with, at least, a 25 day notice before the payment change date, XXXX. The remaining term, Interest and principal used to calculate the new payment is to be effective as of the NOTIFICATION DATE. ***** Your summary of the XXXX XXXX payment adjustments totally ignored the XXXX payment adjustment due XX/XX/XXXX, which Shellpoint did not address until the XXXX was involved in XX/XX/XXXX. The actual adjustment did not take effect until XX/XX/XXXX. XXXX MONTHS LATE! Correspondence with Shellpoint then and for the next XXXX XXXX XXXX ) payment adjustment stated promises to comply..****** XXXX Transferred note effective XX/XX/XXXX fed rate 4.34 % ignored in your data ) ( XXXX fed rate XX/XX/XXXX 4.84 % - recast note in XXXX at 4.59 % notification dated XXXX -see XXXX XXXX also erroneously entered in your calculation -- the only time ( actual ) principal balance was used in your calculation ) **Effective Date Principal & Interest, Payment Amount Interest Rate -- ( actual rate change dates prior to the DATED payment notice issued. ) XX/XX/XXXX {$800.00} 5.34 % -- ( fed rate correct notification dtd XX/XX/XXXX ) XX/XX/XXXX {$850.00} 5.84 % -- ( fed rate changed XX/XX/XXXX new mtg rate XXXX 5.59 % notification XXXX XX/XX/XXXX ) rec 'd XX/XX/XXXX ) XX/XX/XXXX {$650.00} 3.59 % -- ( hey got one right except for the padded principal ) XX/XX/XXXX {$650.00} 3.59 % -- ( per note terms notification was not required amortization calculated in XXXX yet the principal increased. ) XX/XX/XXXX {$770.00} 5.09 % -- ( fed rate XX/XX/XXXX new payment rate s/h/b 5.84 % notification dtd XXXX ) Fed rate chart -- readily available on line ... .. goes all the way back to the XXXX 's Date of Rate Change Rate ( % ) MARGIN NOTE RATE plus MARGIN XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ******************************************************* CORRESPONDENCE FROM SHELLPOINT re : Website, mailings, and XX/XX/XXXX response to CFPB PRINCIPAL BALANCES PER SPMS DOCS AND WEBSITE XXXX XXXX Mailing XXXX XXXX Mailing XXXX {$130000.00} Website XXXX {$130000.00} Website XXXX XXXX response new pymt calc ******************************************* The XXXX page pay history submitted with your response, attempts to reverse Shellpoint 's errors. Completely ignoring the XXXX transactions. After your excessive reversals, your beginning balance for your adjustments was {$140000.00}. XXXX transfered {$150000.00} **** the total principal adjustment prior to your adjustments was {$12000.00} your adjustments to the principal totaled {$12000.00}, where is the {$150.00}. Your interest adjustments were off by {$420.00}. ***** Your pay history is not reflected on your website, there appears to be a manual adjustment to match your numbers. XX/XX/XXXX XX/XX/XXXX Tax Bill XXXX Disbursement {$130000.00} XX/XX/XXXX - {$950.00} XX/XX/XXXX Unapplied Payment {$130000.00} Your response, reflects a XX/XX/XXXX ACH payment : XXXX {$180.00} XX/XX/XXXX XX/XX/XXXX Regular Payment {$950.00} {$160.00} {$130000.00} The actual amount was {$1000.00}. Missing {$65.00}. ***** Your revised pay history is based on faulty data. You can not create your own history of my account 's pay history. YOU CAN NOT CHANGE My HISTORY. This has been ongoing for over FIVE YEARS. As stated in my complaint to the CFPB, Shellpoint has ignored the terms of the contract, altered the previous pay history to " correct '' the mishandling of the terms. XXXX  and CFPB may accept your promise to improve your system, but after XXXX and a half years, I do not. XXXXA CONTRACT IS A CONTRACT. If you can not comply with the terms. then you are in Breach of the contract. It can not be rewritten! You can not create your own history of my account. * for the purpose of this communication -YOU/ YOUR is Shellpoint Mortgage Services . ** copied from XX/XX/XXXX response

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