Consumer complaint received 2021-11-18
Company: Shellpoint Partners, LLC
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
In reference to Shellpoint/New Rez response letter dated XX/XX/XXXX acknowledging errors. They stated the Escrow balance ( Paid Year to Date ) XXXX, XXXX is an accurate amount of {$60.00}. Again, I am having to dispute their management of my mortgage account and request explanation of the Shellpoint/New Rez accounting of the Escrow balance. My payment records show that on XX/XX/XXXX a payment of {$860.00} was received by Shellpoint/New Rez for the XX/XX/XXXX mortgage statement. This payment reflects on the Escrow payment ( Paid Last Month ) on the XX/XX/XXXX mortgage state in the amount of {$230.00}. But, on XX/XX/XXXX a payment was issued to ShellPoint/New Rez in the amount of {$1500.00} to be applied to the XX/XX/XXXX mortgage statement. The amount of {$530.00} ( Paid Last Month ) from the {$1500.00}, on the XX/XX/XXXX mortgage statement but the ( Paid Year to Date ) shows {$60.00}. Something is wrong and inaccurate with this accounting, please explain what happened? The statement says you collected {$530.00} for XX/XX/XXXX escrow payment but the ( Paid Year to Date ) for XX/XX/XXXX is {$60.00}. Where is the rest of the money? 

Also, the amount of {$760.00} deducted for interest payment for the XX/XX/XXXX mortgage statement is inaccurate and ( overcharged ). Why did you charge me more than 4.25 % on the outstanding principal of {$100000.00}? The interest amount for the month of XX/XX/XXXX, should only be {$380.00}. What did you with the money overcharged for interest? Shellpoint/New Rez received a payment in the amount of {$860.00} on XX/XX/XXXX for the XX/XX/XXXX mortgage statement which also should reflect an escrow payment in the amount of {$230.00} ( Paid Last Month ) which means ( Paid Year to Date ) should equal the amount of {$710.00} on the XX/XX/XXXX mortgage statement. Again, mismanagement of mortgage loan account and now the escrow account is badly affected showing a shortage and needs to be corrected. Please explain what happened with the escrow account balance for XX/XX/XXXX? 

Again, I am requesting a full and complete explanation from ShellPoint/New Rez accounting of the escrow account. The explanation needs to show how ShellPoint/New Rez received regular payments and a overpayment and only {$60.00} was applied towards escrow account ( Paid Year to Date ) instead of {$530.00} after receiving a {$1500.00} payment to be applied to XX/XX/XXXX mortgage statement? Also, explain the interest charges over the 4.25 % of the principal for months collected. 

I have attached monthly proof of payments, my evaluation/analysis of escrow payments and expenditures. Also, attached is Shellpoint/New Rez mortgage statements and their escrow account analysis report which both show discrepancies against one another. I need to know where is the missing money ( funds ) that should have been applied to the escrow account? Based on my evaluation and analysis of the payments received there should be at least a escrow balance ( Paid Year to Date ) of {$2700.00} for XX/XX/XXXX. If you actually applied {$530.00} to XX/XX/XXXX as shown on the XX/XX/XXXX mortgage statement this should be the escrow ( Paid Year to Date ) for XX/XX/XXXX not the inaccurate amount stated of {$60.00}. At your earliest, please explain this mess and where is the rest of my money for escrow account?

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