Consumer complaint received 2021-06-23
Company: Shellpoint Partners, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I started a refinance with New rez Mortgage XXXX XXXXXXXX, XXXX and have yet to close and it is now XX/XX/XXXX. 

My home is in XXXX Ohio, XXXX and the property value is rising. 

They have given a myriad of reasons from busy due to the pandemic, which I accepted for a while, then software issues on their end, then appraisal issues, they did three, and finally they asked me to paint the trim on the outside of the home, and do a few other minor repairs. 

They are no substantial issues with the home, all cosmetic, which the appraiser says, but the appraiser is making it subject to instead of as is. 
I would like to forward the complaint to the appraiser as well. 
this is the appraisers statement The subject property was in overall condition ( C4 ) : The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate. 
The the appraiser says the home has possible lead. 
I explained to him that that was impossible as my son grew up there and is now XXXX and an attorney with no lead poisoning. We had to knock out walls long ago to do wiring repair and plumbing at which time if there had been lead, we would have known. 
Besides no one lives in the basement or outdoors, whre he is ASSUMING there is lead..and it is clear that peeling paint in the basement was a leak which I explained and the ceiling was knocked out clearly to reach the pipes. 

The appraiser has also made a broad assumption that there is water in the walls. There are no leaks in the home. He also has said a broken window which has long been repaired is a security issue. I think New Rez and this appraiser are working together and asking me to go on a wild goose chase looking for the source of issues that are not present.

New Rez is the current lender. I am simply asking them to lower my payment. The equity in the home is twice what I am asking. And these are minor repairs as stated in the appraisal, some of which have been repaired already, so there is no reason not to lower the payment.

But again since they have held me up so long, and don't want to do a new loan to lower, simply return my investment and I can go to another lender.

again the appraiser states : Maintenance and physical deterioration due to normal wear and tear. The dwelling has been adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs. All major building components have been adequately maintained and are functionally adequate. 


New Rez Mortgage And listed also as New Rez LLCXXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX Pa XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX Md XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  Pa, XXXX I do not blame these two individuals. It is clearly beyond them and in underwriting. 

appraiser XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX, KY XXXX ( XXXX ) XXXX XXXX Appraisal done on XX/XX/XXXX but signed XX/XX/XXXX What took 3 months???

Company response to consumer: Closed with explanation