Consumer complaint received 2018-07-09
Company: Shellpoint Partners, LLC
State: UT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Below is a copy of the email I sent the company. They are charging me {$620.00} for this appraisal.

To Whom It May Concern : I have been calling for several months regarding my PMI. You sent me a letter stating you would not remove my PMI, this is unacceptable and I would like to discuss this issue. I feel that this is a final attempt on my part before taking this up with a federal regulatory agency. If I am not contacted back today I will do so. Below is a review of the issues as I recall them, some of my dates may be off but that is immaterial to the matter : In XXXX or XXXX I contacted Shellpoint Mortgage regarding my PMI. I had purchased additional property behind my lot from the city and had it added to my tax parcel id number. Thus increasing the acreage of my lot and the value of my property. Several of my neighbors stated that they had called their mortgage companies and got a new appraisal and were able to remove their PMI. I contacted Shellpoint the servicer of my loan and they said yes you can do the same. I would need to pay for the appraisal. They emailed me a paper and I then had to fax it back requesting the appraisal. I am very aware of my loan 's LTV. However I felt that the appraisal would put my LTV under 80 % which it did. All of your conversations are recorded I have been informed by a representative of your company. This conversation should be available for review. I called several times to find out where we where at with this issue and was finally told your request was denied. I asked why and was told you are being mailed a letter, the agent couldn't tell me why but requested a review of the issue and would call me back. Because she felt it should be removed. This was been repeated I believe 3 times, over several weeks with no response from Shellpoint. Each time I was told someone would call me back. I waited several weeks or even a month and called again on Monday XX/XX/XXXX and was told Shellpoint does not remove PMI unless your loan is under 78 % LTV. I was further informed that this is per Shellpoint policy and taught in all training to their employees. I stated but my loan papers say 80 %. The representative proceeded to argue with me and told me I am wrong. I asked to speak with a supervisor and was told no one was available and they would call me back, there are only 3 supervisors there today and they are in a meeting. I stated I would hold for a supervisor the entire process including holding took 43 minutes. I have included a screen shot of the phone call, I called at XXXX XXXX Mountain Time. The woman I was speaking with then came back on the line and said all the supervisor were in a meeting and would have to call me back I could not hold any longer. She then transferred me to one of their voicemails. I left a message which was returned finally by a Mr. XXXX XXXX at XXXX XXXX Mountain time. That phone call lasted 17 minutes. He told me he would research the issue and contact me back. I asked him when would he call me back. He told me he was the only supervisor there and it would not be that day but possibly the next day. I stated that he had until the close of business on Tuesday XX/XX/XXXX. He made no commitment to do so but would try. It is now Friday XX/XX/XXXX and I have still not heard from him. I called again today and was told he was on call and would call me back. I left him a length voicemail. As of this moment I have not received a return call. At this point I feel I have been more than patient and this shows a lack of integrity and professionalism on the part of Shellpoint Mortgage. I feel that you as a company are not acting in good faith or within the law. Please advise if you would like to discuss this matter further. 

I would like to state that every person that I have spoke with except one has been extremely professional and friendly except the woman I spoke to at XXXX XXXX on Monday XX/XX/XXXX. A fact that I find remarkable, I can only conclude that this is a lack of professionalism with Shellpoint as a company not with their very kind and polite call center operators.

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