Consumer complaint received 2023-05-20
Company: Shellpoint Partners, LLC
State: WA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
XX/XX/XXXX follow up call to Shellpoint ( XXXX, XXXX XXXX, XXXX  ) XXXX minutes ; XXXX ; I received yet another decline for PMI removal the exact same auto-generated letter I have received since filing other/earlier requests that does not address the newly renovated/increased market value of my house. XX/XX/XXXX, I called Shellpoint and spoke with supervisor XXXX who advised me that no one was looking at the request to remove PMI based on market value and that he said it was likely going into an automate response queue based on the XXXX. He said he would send an email to a supervisor in the PMI dept to specifically review my request within the scope of market value and I should be receiving an email with next steps that detailed how/when a BPO and Market Valuation would be done. I never received that email. Instead I received another auto-decline letter, dated XX/XX/XXXX and also XX/XX/XXXX, with exactly the same bulleted information that did not apply to my request for PMI removal based on the increased market value/post renovation work for my house. I called XX/XX/XXXX to XXXX, spoke w/the above referenced people who told me that my account was now flagged, that I did not qualify for PMI removal based on the HOPA. When they said that my account had been flagged it also had the connotation of a threat and that I had done something wrong or was not in compliance/current with my mortgage. When I asked for further clarity around that, they had no further comment about the flag and then also told me ( XXXX XXXX and XXXX ) that Shellpoint was required to only use the original value of the home for PMI removal. When I told them that I had challenged the decline ( twice in their portal in writing and several times on the phone ) and shared/cited the XXXX XXXX  guidelines that showed I was likely eligible based on the letter generated from XXXX XXXX XXXX ( hold my note while Shellpoint services it ) after my $ XXXX renovation showing my home value at $ XXXX in the XXXX market XXXX they told me again they could not use any BPO or market value and Shellpoint had to use the original value. When I further explained that whatever internal guidelines they were using were NOT XXXX XXXX  guidelines but FHA guidelines ( or some other arbitrary guidelines ), they repeated the same info. I then said that by telling me thisand by not using the guidelines that governed the terms of my mortgage- they were breaking the law as they did not get to make arbitrary in-house servicing guidelines around this and that each type of mortgage had nuances within their guidelines, they told me if I did not agree I could challenge it with them but it must be in writing. I let them know I had already done that but no one was addressing the scope of my request to remove PMI based on market value, they again repeated that the HOPA was what they used to determine and I could challenge it. I then let them know they were not abiding by the service guidelines of my XXXX XXXX XXXX and that by informing me otherwise, they were breaking the law and that they were also breaking the law by requiring me to put my request in writing ( again ) as it was determined years ago that verbal requests made by the consumer were required to be pursued with the same consideration as those in writing and this was put into effect/law due to the onerous tasking that mortgage servicers were putting onto consumers that forced consumers to either give up and/or allow servicers to delay their responses while they continued to soak up more of the consumers XXXX esp. w/re to PMI removal requests. I reiterated that my verbal request ( in addition to several in writing requests made through their portal to submit and then challenge all their many declines so far, which they disregarded in this conversation and told me didnt count because the most recent ( exact same ) response from them was the one I needed to challenge which is INSANE and keeps my requests in a never-ending zero response loop ), was sufficient. I continued to ask about next steps and request a BPO and even referenced the evaluation letter generated by XXXX post-renovation ( XX/XX/XXXX ) showing my home ( in their and my files ) at $ XXXX ( my mortgage is at $ XXXX now ). All operators on the call refused to pursue my request. They also refused to honor my verbal request to review the specifics of my request and refused to initiate anyone at Shellpoint from pursuing next steps ( eg, a BPO ). Different operators told me different things, even going so far as saying they did not have a PMI department and there was no such office. Incredible. I do qualify for PMI removal under XXXX XXXX  guidelines. I do deserve to have consideration and specific review of my account and it is within my right as a consumer, and per the XXXX XXXX guidelines, for me to request this verbally and also have it be approved/removed. Shellpoints delays tactics, disrespect, misinformation and blatant disregard for the law and the XXXX XXXX guidelines which determine servicing of my loan by Shellpoint, can now only be seen as a willful disregard to abide by the law and soak the consumer for PMI / $ that is not due to them. My guess is that Shellpoint hopes I will give up and not pursue this. But they have screwed up my account and mortgage from day 1 of XXXX  Loans transferring the service element to Shellpoint, XXXX XXXX, XXXX. Shellpoint needs to be sanctioned and fined for their willful disregard of the law/terms of servicing my mortgage. It is not unusual that servicers attempt to bilk consumers who may not know any better so servicers can clean up monetarily for years without anyone knowing any better : shameful, illegal and reprehensible.

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