Consumer complaint received 2021-03-22
Company: Shellpoint Partners, LLC
State: CO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
In XX/XX/XXXX, my mortgage was transferred from XXXX XXXX which is owned by Shellpoint mortgage to NewRez, which is also held by Shellpoint mortgage. I never received the letter stating I would have a new mortgage servicer prior to service change but I did receive the letter from NewRez that they were taking over. 
In XX/XX/XXXX, I typically receive my new escrow analysis. I had received an email with a link to review my escrow analysis, but it was not correct. It stated my taxes, which are paid within my mortgage payment were {$330.00} short from the previous year. This was inaccurate as I received my tax statement from the county stating that instead of my taxes being {$4600.00} it went down to {$4300.00} which was technically an overage of {$280.00}. I provided the documentation to which XXXX XXXX was supposed to make the update to my escrow statement. This was XX/XX/XXXX. 
On XX/XX/XXXX, I was notified that my payment increased from {$1200.00} to {$1300.00}. I contacted a representative which stated my payment was short. I asked to speak to a supervisor and got XXXX XXXX on the line. 
He told me my escrow was short as my XXXX escrow was short and I was catching up from that. This is an incorrect statement. We all know we pay shortages either all at once or spread over months preceding the shortage ... which I did. 
I sent all supporting documentation to XXXX and can not get a return phone call. I have called the customer service line also trying to reach him or his manager and I am told he isn't available or the managers are in a meeting. 
Dates of continued calls are- XX/XX/XXXX, XXXX XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. I sent an email on XX/XX/XXXX with a summary and attachments supporting my position and another email on XX/XX/XXXX asking for a call back or his manager. 

Here is the email to XXXX XXXX : XXXX, During our conversation this morning, you had indicated that while my mortgage was at XXXX XXXX in XXXX, that I had an escrow shortage in the amount of {$450.00} and provided to me the letter I would have been sent by XXXX XXXX. 

After reviewing that document, it also stated that my mortgage payment would have an increase of {$38.00} per month for 12 months bringing my payment to {$1200.00} from XX/XX/XXXX to XX/XX/XXXX to satisfy the shortage. You also indicated that I did not satisfy the shortage and that the servicing transfer from XXXX reflected the shortage. I stated that I would have had to pay that shortage through my monthly payment and that no mortgage company would have not increased the payment to get the shortage paid in full, should the borrow choose not to pay the in full amount and allowed a shortage for 3 years without being satisfied. 

Attached, please find the notice you provided from XXXX of the shortage along with each monthly payment I made, in subsequent pages following in the amount of {$1200.00} each month ; therefore satisfying that shortage. 

Additionally, I was able to log into my account and pull the last 3 mortgage statements from NewRez in XXXX along with XX/XX/XXXX statement. 
The XX/XX/XXXX statement showed a current escrow balance in the amount of {$2700.00} also knowing the amount of the first half tax payment you advised in the amount of {$2100.00}, which would have left a surplus in the amount of {$600.00}. 

I would still like additional documentation which shows I have a shortage of my escrow in the amount of {$330.00} and why the shortage. I have attached the letter received by the compliance department depicting the incorrect tax amount and therefore ; the document is incorrect as is the shortage. 

If in XXXX through XX/XX/XXXX and XXXX XXXX, my payment was {$1200.00} with my escrow of {$370.00} per month and that was sufficient to cover the years taxes of {$4600.00}, then with the new tax amount being {$4300.00} an overage of {$280.00} then the amount should also be sufficient to cover that tax amount. 

This is what I need from you : * Statements from XXXX XXXX from the time XXXX XXXX sold the mortgage to them to XX/XX/XXXX. XX/XX/XXXX through XX/XX/XXXX, showing a continued shortage. 
* Process to remove my escrow, get additional funds from NewRez/Shellpoint which are held in escrow and escrow cushion mailed to me and I will pay my own taxes. 
* XXXX and XXXX statements of where the funds I pay goes. What goes to interest, what goes to taxes and what goes to principal. It should show {$1200.00} transferred from XXXX and your document should show amount received. Of that {$1200.00}, what is escrow because my year end statement from NewRez doesn't show having received those funds. 

If XXXX was transferred in XXXX and there were 5 additional escrow payments prior to disbursement for taxes ; XXXX, XXXX, XXXX, XXXX, XXXX and XX/XX/XXXX, there would have been a total of {$2700.00} with a payment of taxes in the amount of {$2100.00} and an overage or surplus of {$600.00}. 

Now that your statement of the reason my escrow is short is because of my XXXX shortage wasn't handled with XXXX and they transferred to NewRez with a shortage is no longer viable, who can I speak with to discuss further these errors? 

Email a response that you have received this email and 3 attachments. 

Call me so we may review further.

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