Consumer complaint received 2017-08-22
Company: Shellpoint Partners, LLC
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My family and I are victims of Financial Fraud and Mortgage Fraud by XXXX XXXX XXXXXXXX, XXXX, Shellpoint Mortgage Servicing and a long line of fraudulent Lenders, Servicers and their complicit lawyers, related to a {>= $1,000,000} 1st Mortgage on our Family Farm in Maryland. I have filed a Fraud Complaint in XXXX County Circuit Court, Case # XXXX on XX/XX/XXXX, which outlines their fraudulent actions against us and we also attached our forensic experts report to the Compliant which states that the XXXX XXXX XXXXXXXX Mortgage on our Family Farm was securitized by XXXX XXXX XXXXXXXX back in XX/XX/XXXX under XXXX XXXX, without our knowledge and sold off on XXXX XXXX and still appears on the SEC console under XXXX XXXX today, among many other violations. It certainly appears that our mortgage should have been part of the {$16.00} Billion Historic Settlement between the Department of Justice ( DOJ ) and XXXX XXXX XXXX dated XX/XX/XXXX, yet no one ever contacted us about it and we only learned of this Settlement just recently. In addition, we have filed a Motion to Consolidate our Fraud Case with the banks XXXX County Circuit Court Foreclosure Case # XXXX, which they filed against me to steal our very valuable Family Farm from us. We have also filed Complaints with the FBI as well as the Office of Inspector General, Department of Housing and Urban Development, the Office of the Attorney General and the Office of the Comptroller of the Currency ( OCC ). In fact, it was the OCC who urged us to file this Complaint with the Consumer Financial Protection Bureau ( CFPB ). They felt we have very valid issues and advised us that Shellpoint Mortgage Servicing, as the current mortgage servicer, is ultimately responsible for getting the numbers correct from the beginning of the loan and they can not proceed to foreclosure until they go back to the beginning and correct ALL accounting irregularities, including the accounting irregularities we have pointed out to them. In addition, given the size of the Lenders and since we have multiple Lenders and Servicers involved, the CFPB is better suited to help us. Therefore, to address our current foreclosure issues, they suggested that we contact the CFPB, the appropriate supervisory agency for Shellpoint. Background and History We purchased our Family Farm on XX/XX/XXXX for {>= $1,000,000} all cash. This was the single largest investment we made as a family. We were approved by XXXX XXXX XXXXXXXX for a {>= $1,000,000} construction loan/re-financing and due to their many misrepresentations, ultimately closed on a {>= $1,000,000} re-financing on XX/XX/XXXX, leaving us {$500000.00} short to complete our contracted construction project. We were forced to use our savings to pay the contractors as much as we could to try to make up for this enormous shortfall by XXXX XXXX XXXX. We experienced a life changing medical issue with my wife in XX/XX/XXXX and as a result she passes out with great frequency, is almost completely bed ridden and requires 24/7 supervision and care. After numerous requests for assistance, XXXX XXXX XXXXXXXX did not provide notice of loss mitigation options until XX/XX/XXXX, at which point we submitted a complete loss mitigation package on XX/XX/XXXX containing our most personal and financial information and were provided acknowledgment of receipt. This first complete loss mitigation package went unanswered. On XX/XX/XXXX we received notice that our loan was being sold/transferred from XXXX XXXXXXXX XXXX, XXXX to XXXX XXXX XXXX. On XX/XX/XXXX XXXX XXXX XXXX offered a suggested settlement or short payoff of {$600000.00} and told me that they purchased the loan from XXXX XXXX XXXX at a great discount and that XXXX XXXX XXXXXXXX took a big loss on it, I requested time to try and make it happen. After many back-and-fourth 's they suggested that we submit a loan modification request package, which was submitted to XXXX on XX/XX/XXXX, with receipt confirmation dated XX/XX/XXXX.  The package went unanswered. We submitted another complete mortgage assistance package and they confirmed receipt on XX/XX/XXXX. Still no answer. On XX/XX/XXXX we submitted another complete loan modification request package and we continued communicating with XXXX XXXX and the XXXX escrow department by email up until XX/XX/XXXX. They were not aware of what was happening and suddenly our calls and emails went unanswered. It was then revealed that the mortgage was again sold/transferred, this time to XXXX XXXX XXXX. We had no choice but to start all over again. From XX/XX/XXXX to XX/XX/XXXX the file was assigned to three different single point of contact ( SPOC ). Through XX/XX/XXXX XXXX had assigned a total of eight different SPOC 's to the loan. On XX/XX/XXXX we were provided notice that the loan would be transferred to Shellpoint and that the loan was actually sold to a new investor/owner on XX/XX/XXXX. So, we were required to start all over again. Immediately upon receipt of notice of transfer I called Shellpoint on XX/XX/XXXX several times and was given one point of contact, XXXX in their loss mitigation department, who apparently seemed professional and compassionate regarding our hardship and story. On XX/XX/XXXX we received notice that Shellpoint assigned a new single point of contact, XXXX XXXX. As requested, we submitted another complete borrower assistance package on XX/XX/XXXX. The package consisted of 83 pages containing our most personal and financial information as well as HIPAA protected health information on my wife 's very serious medical condition. The same day, confirmation of receipt of the complete package was received by Shellpoint and stated it would take 30-60 days to process and to sit tight until we heard back from Shellpoint. On XX/XX/XXXX we received a letter stating that we had not sent documents as required. That same day I called and was told that ALL of the documents were confirmed received and the file was still in review and all is well. On XX/XX/XXXX we made another request for loss mitigation options. Shellpoint then required that we submit another complete package. On XX/XX/XXXX we submitted another complete package with all updated supporting documents. On XX/XX/XXXX a notice/letter was provided stating that our request was complete and in process and further stated that they would not refer the mortgage/property to foreclosure ; or if the process had already started they would not initiate a sale, which they did. We had to file a bankruptcy to stop the sale and this went on and on. Shellpoint 's numbers were so far off from reality, it was totally impossible to get a representative to understand our position as I was told that the numbers on their screen were accurate. They were not! Shellpoint stated that our interest rate was 7.375 % and our monthly mortgage payment was {$9200.00}, when the actual interest rate per our Adjustable Rate Note was actually 2.875 % and our monthly mortgage payment was {$3500.00}, which we were trying to modify. It was apples and oranges and I could n't  get anyone there to see it as it should be. Shellpoint testified under oath that the current interest rate was 7.375 % with a monthly mortgage payment of {$9200.00} per the adjustable rate note. However, the documents speak for themselves. The actual documented interest rate per the Adjustable Rate Note is based upon 1 YEAR XXXX plus 2.25 %, which averaged out during the past five years to approximately an annual percentage rate of 3 % with a monthly payment of approximately {$3800.00}. After years of both written and verbal notifications of these egregious accounting errors no effort was made to right the wrong. This fraudulent conduct prevented us from receiving a proper mortgage modification as required by federal banking laws. As detailed in our forensic experts report we were eligible and qualified for a loan modification based upon the experts review of our submissions for loan modification and using the correct numbers per the Adjustable Rate Note. NO attempt was made by the banks or servicers to correct their accounting errors putting us into a fraudulent and financially insurmountable category of owing 256 % more than the actual required monthly payment as reflected by the loan documentation. Years of requests by us to get this corrected were constantly ignored and never passed on to alleged assignee 's and/or Servicers of the mortgage. Years later we discovered in the Official Land Records of XXXX County that on XX/XX/XXXX XXXX XXXX XXXX, XXXX Sold/Assigned our XXXX XXXX XXXX to XXXX XXXX XXXX XXXX and on XX/XX/XXXX XXXX XXXX XXXX XXXX Sold/Assigned our XXXX XXXX XXXX directly to a XXXX XXXX, both of which are well after Shellpoints involvement and the notices of XX/XX/XXXX and XX/XX/XXXX as stated above. So, it appears that XXXX XXXX XXXX, XXXX was the owner of the mortgage all the way up to XX/XX/XXXX, which completely contradicts what we were told from each, as stated above and WHY did XXXX XXXX XXXX XXXX Sell/Assign the mortgage less than 4 months after purchasing it from XXXX XXXX XXXX, XXXX? Something is very wrong here. On XX/XX/XXXX, Shellpoint took our Family Farm to a foreclosure sale based upon these fraudulent numbers and actions and we are working with the authorities to stop if from conclusion, as we will be left homeless, with a completely XXXX wife/Mom and our Family Farm business stolen from us, all under false pretenses. I have assembled 6 large binders, all in chronological order, containing all of these documents and more and are happy to provide them at the appropriate time and upon your request. These banks and servicers MUST be held accountable for these horrific actions. Thank you so much for your very kind help!

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