Consumer complaint received 2020-07-01
Company: Shellpoint Partners, LLC
State: TN
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Hello, this is the third complaint I have had to make to the CFPB regarding the handling of my Escrow Account by our servicer, NewRez. I have attempted to work this out with the company numerous times, however they only seem to respond to a CFPB complaint. My first complaints are CFPB Complaint Number XXXX. At the time it wass determined that there was a missed payment from our hazard insurance company which caused a shortage in my escrow account. I spent the next 12 months paying additional payments to make up for that shortage. However, once again in XXXX my Escrow account showed a " shortage ''. NewRez never responded to my numerous attempts to contact them about this which led to the second complaint regarding this issue - CFPB Complaint Number XXXX. This time the response from NewRez ( again, they only responded after receiving another CFPB complaint ) was the shortage was due to a miscalculation of my Hazard Insurance premiums. As a result of their response, I performed my own audit of my Escrow account as per the analysis they provided. I came up with inconsistencies between what they reported and what actually happened. I responded via email to the email address provided in their response ( XXXX ) on XX/XX/XXXX to attempt to discuss my findings. I am including a scan of this email for your review. 

NewRez has now claimed that this is not an increase this year but a carryover from a previous year 's oversight. However, the math does not add up. As per my first complaint, there was a shortage of {$3200.00}. The missing check from my Hazard Insurance company was eventually credited to my Escrow account on XX/XX/XXXX in the amount of {$1500.00}. That would leave a difference of {$2000.00}. That amount spread across 12 months should have been {$170.00}. My original Mortgage payment was {$2200.00}, and with the additional shortage should have been {$2400.00}. My actual payment for 12 months effective XXXX of XXXX was {$2400.00}. The shortage that occurred was for {$18.00} per month, for a total of {$220.00} spread out across all 12 month payments. This is drastically less than the {$2000.00} they claim is owed. 

Furthermore, in addition to the contradictory response ( on one hand they are saying that the shortage was a carryover from a previouys year, and the other hand they are telling me the shortage is due to an incporrect amount being paid to my hazard insurance company. ) In reality, NewRez OVERPAID my Hazard insurance, resulting in XXXX XXXX issuing a refund check to NewRez in the amount of {$86.00} on XX/XX/XXXX. 

By my calculations, with figures provided directly from my Hazard Insurance company as well as my most recent escrow analysis my PMI monthly payment is {$350.00}, Hazard Insurance is {$230.00}, and Property Taxes are {$200.00}. This brings my total monthly escrow payment to {$800.00} even. Added to the {$1600.00} for my P & I payment it brings my total monthly payment to {$2400.00}. If you add the {$18.00} per month increase due to the shortager this brings my total monthly payment to {$2400.00}. However, according to the figures and their report, they claim my payment is {$2500.00}. 

All I want to do is pay my mortgage. I never had this issue with my original servicer, and for the life of me, I can't seem, to make the figures they send to me add up to what they say I owe. I attempted to follow-up with them again via email on XX/XX/XXXX again with no response.

Company public response: Company disputes the facts presented in the complaint
Company response to consumer: Closed with explanation