Consumer complaint received 2020-07-09
Company: Shellpoint Partners, LLC
State: NY
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
I initially had a mortgage with XXXX in XXXX, I learned in XXXX that my loan was now serviced by ShellPoint. During this advisement I requested for a loan modification since I was unable to afford the mortgage payments which was approximately {$2200.00} I was approved in XXXX for a loan modification which I was advised that my payments were going to do down to approximately {$1700.00} a month. I accepted and agreed to make my trial payments, upon making four trial payments my loan became permanently modified in XX/XX/XXXX. In XX/XX/XXXX I was advised that my payments were going to go up to approximately {$1700.00} due to an escrow shortage, I made my payments accordingly and never missed a month. In XX/XX/XXXX I received notification that my new mortgage was going to be approximately {$2400.00} I was alarmed, confused and concerned. I called and spoke to multiple people and no one knew what was occurring but I was advised that my taxes went up drastically. I advised the representative that it was hard for me to understand that since I live in New York and there's a 2 % Cap. I then called my county and they advised that the bank never paid the School Taxes in XX/XX/XXXX that's why they added those taxes to the county taxes that were due and paid in XX/XX/XXXX. Upon bringing this to ShellPoint 's attention they response was that the previous servicer XXXX did not disclose the School Taxes to them therefore, they did not know. I called a few times and tried to get answers and assistance on what can be done in a situation such as this and I was advised that I can not apply for a new loan modification since FHA guidelines only allows you to apply after 24 months. I believe this is unfair since it wasn't my error but they are penalizing me and now charging me a mortgage amount that I can not afford, I've paid what I'm able to afford and haven approved for the COVID forbearance however, that is only until XX/XX/XXXX, so when that expires which is granted for 3 months ( XXXX, XXXX and XX/XX/XXXX ) what happens to the increased mortgage amount. I believe that the bank should look into a possible exception to the loan modification since this error was between them and the previous servicer. I believe a system or some form of checks and balances should haven been conducted to ensure they knew everything about the loan and payments required when they became the new servicer. I made a complaint via the XXXX XXXX XXXX and they keep responding advising to work with the loss mitigation department and the escalations department, however, the loss mitigation department is advising that they can not do anything and the escalations department has not responded to my many complaints and concerns that I've included them in the e-mail communication. I feel like my back is against the wall and that the bank is not trying to do anything to fix this problem that I did not cause. They also advised that the previous lender omitted the tax information however, upon reviewing the loan history summary that they provided it looks like the taxes they missed in XX/XX/XXXX was always paid by the previous lender so not sure where the omission resulted. I'm requesting assistance since I do want to keep my home for me and my children, it is important for me to keep my home, this has caused me so much stress. I've been going back and forth with Shellpoint and their personnel since XX/XX/XXXX trying to figure out how this can be resolved but they are saying nothing can be done for an error that they were according to them not aware from the escrow portion of my mortgage.

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