Consumer complaint received 2021-09-04
Company: Shellpoint Partners, LLC
State: ME
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Shellpoint Mortgage has reported me delinquent on an account that was in forbearance and in trial payments for a loan modifcation 1. They notified me that my protection from the CARE act expired XX/XX/2021. The " true status '' of the loan without assistance that was offered by XXXX would then be reported. 

My forbearance was active until XX/XX/2021 I contacted Shellpoint in XX/XX/2021 and spoke with a representative on exiting forbearance and was offered a loan modification and my first trial payment would be due XX/XX/2021 in the amount of {$1800.00}. This was confirmed by XXXX on XXXX XXXX I attempted to make a payment on XX/XX/XXXX as agreed. After multiple attempts I contacted Shellpoint and they told me I was unable to make a payment due to a delay in paperwork. I offered to make a full payment and they told me I could not make a payment on my mortgage. 

They then rescinded the initial modification and did not offer a new modification until mid XXXX. I was finally able to make a payment the end of XXXX for the first trial payment.

2. Shellpoint advised I was reported because I was not in forbearance on XX/XX/XXXX. I had requested to exit forbearance and was offered a plan for modification and trial payments XX/XX/2021 but this offer was rescinded by Shellpoint.

Shellpoint website specifically states if you are seeking loan modification it will not negatively affect your credit.

They did give me an opportunity near the end of the emails to make a lump sum payment to protect my credit, despite being told this was not allowed by the CARE act.

I tried to make mortgage payments but Shellpoint would not allow me despite my account falling further behind each month. 

3. As of XX/XX/2021 Shellpoint will be reporting me delinquent on my account over 180 days, despite on time modification trial payments and multiple attempts to pay this debt. 

4. They feel they are reporting the true status of the loan without assistance from Shellpoint. I exited forbearance, made contact and made arrangements to pay. This is a XXXX XXXX loan and despite doing everything required by Shellpoint, my account is being reported delinquent. 

XXXX. The care act provided protection from 120 days after the COVID national emergency ended The Covid National emergency was extended on XX/XX/2021 for another year per President Biden.

My credit score has now dropped 150 points. I am unable to secure a loan for a vehicle since my lease has ended., My job is in jeopardy with no ability to secure financing. I advised Shellpoint rep XXXX XXXX of this and she advised I should focus on my mortgage not other loans. This suggestion was surprising since I need a car to drive to work to pay my mortgage. 

I have attached all email correspondence as well as info from the Shellpoint web site to show the policy on credit reporting. 

If the only way IU could have avoided being reported to CRA was making a lump sum payment then I feel Shellpoint has negligently disregarded the wording and spirit of the CARE act.

Please have Shellpoint respond to this. I am requesting the delinquent record of mortgage be corrected and removed from XXXX  ASAP. 

XXXX XXXX

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