Consumer complaint received 2021-07-19
Company: Shellpoint Partners, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
XX/XX/XXXX Simple rate and term reduction refinance application with NewRez. It is determined no appraisal needed ie done with a XXXX. 1st issue : during Initial Closing Disclosure process-ICD, we notified the lender via their system communication portal there was a charge for a {$500.00} appraisal but this was a XXXX and were advised that would be removed. Flash forward, closing docs. arrived, the charge was STILL on the CD?! We should have declined then but for the rate we couldn't pass it up! So, at the closing we crossed it off and initialed it, but the Notary was not okay with that. I advised them I do review closing docs. and I see this ALL THE TIME ; this way they/settlement agent can update/fix it before funding right?! XX/XX/XXXX the loan was closed/disbursed still including the {$500.00} appraisal charge? I mean did anyone review any of the signed docs.? That took until XX/XX/XXXX to be rectified by additional refund to us! 2nd issue : On multiple occasions we have requested assistance in understanding WHY the taxes that were collected at the closing were NEVER paid-we were notified in XXXX, XXXX, when the county treasurer cc 'd us on a letter sent to the Settlement Agent, XXXX, stating they owed for bounced check charges, taxes were not paid and delinquent and that this needed to be rectified by XX/XX/XXXX to avoid further penalties ( the taxes collected and paid at closing are now not paid and delinquent WHAT? )? Needless to say, I was beside myself and immediately reached out to ALL parties! It took until XXXX XXXX to get our XXXX Tax installment paid with the county - the funds were pulled out of our CURRENT escrow account ( all other charges had to be paid out of their monies to the county )? However, now all we have requested is for them to clearly 'show us the money '. An accounting of the funds in our previous escrow account/ the payoff/new escrow account/taxes paid etc. to be clearly provided to us because we received and are holding this so called " escrow overage '' check ; which is the 'exact ' amount of our taxes collected at escrow? The complaint is being filed because it is now XXXX XXXX with still no resolution/clear explanation from the lender, whom is our current loan servicing agent as well on the new loan, as to what happened. Supposedly multiple tax installments were paid and rejected by the county due to the taxes being paid but then if that were the case why was I contacted for non payment/delinquent taxes? Where did the funds from the settlement agent get applied? Why are we penalized and our new escrow is short? The Settlement Agent says they wired the monies collected for the tax installment, that the lender told them to stop payment on, back to the Lender because the taxes had been paid ( but again they never were ) so who had what wrong, when and why? I don't know but if I were any normal consumer not an actual closer funder I might not be quite so inquisitive. It is my job to know this stuff and right now I can not unravel this issue with what has been provided I just need to see it broken down old escrow all debits/credits new escrow all debits/credits payoff required/applied etc. and maybe then it would make sense that is all we have asked for? We have been patient but this has gone on too long it is their JOB to get this right? Not to mention the Settlement Agent has yet to ever provide an amended Final statement Statement. If they refunded monies to the lender they should have sent us a letter and copy of an amended final statement ( someone should be governing Escrow/Title in the same way as the lender in my opinion where's there time limit to do this stuff )?! Lastly for anyone that reads this far, I want it noted whenever you're involved in such transactions, PAY CLOSE ATTENTION TO ALL THE FIGURES DO NOT RELY ON THE PROFESSIONALS! Unfortunately, not all are created equal and DO NOT let things that don't look or feel right slide by inquire, question and ask for clarity to be sure all is right in the end. Hoping the information we seek is provided soon enough to avoid further issues!

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