Consumer complaint received 2021-12-08
Company: Shellpoint Partners, LLC
State: OH
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
XX/XX/2021 My name is XXXX XXXX and I live at XXXX XXXX XXXX XXXX, OH XXXX. I feel I have been discriminated against, misled and retaliation has been taken because of a complaint I filed. I was not given Covid assistance when I requested it from my lender, my credit report has incorrect damaging information and my health has drastically been affected by the treatment I have received. I was unable to get help and my situation worsened in the process from acts done by Shellpoint Newrez. 

I have been on XXXX for years now due to XXXX XXXX, XXXX XXXX and XXXX. I explained the situation to numerous people and begged for help that was offered to all. I still have not received any help and I have no hope of this situation being resolved. After all my efforts I now have lost a credit card ( due to incorrect information from Shellpoint/Newrez ). My credit score has gone down over 100 points due to their information inaccurately being reported to credit bureaus. I had worked for years to have a good credit score, my score was XXXX until Shellpoint reported incorrect information to the credit bureau. All I have asked is what the government offered to everyone and I have not received any help or assistance with this matter. I have been ignored, given inaccurate information and been treated rudely during this whole process. 

I ask that someone help me with this inequality in the system. I have listed dates and information below. I was given multiple people as my loss mitigation specialist, I was tossed around and not given respect or help. I also attached emails and letters NewRez sent regarding my complaint against them. My credit score took over a 100 point loss after this due to NewRez reporting incorrect information, In XXXX I got approval through XXXX XXXX XXXX for 6 months house payments, the information was sent to NewRez and it is now XXXX, my house payment was taken out and no response regarding XXXX XXXX XXXX from NewRez. 

I also found my credit report was hurt by NewRez incorrectly reporting a partial payment in XXXX, which is incorrect. This brought my credit score down over 130 points and my XXXX credit card was revoked. This information I found out this first week of XXXX. 

Below I have pasted several things I have found that lead me to believe I would be able to get help with no problem. I don't understand why this has turned into such a life altering situation.None of what is stated below was made available to me. 

I am hoping my mortgage will get the modification it was entitled to in XX/XX/2021, adjusting my mortgage balance to reflect the monies that would have gone to principal had I received the modification. I want my credit report fixed- this should be done regardless. I want Shellpoint to mail a letter to me and XXXX explaining their error and following through till it is corrected. I don't think this is too much to ask since lawyers are offering pain and suffering due to mortgages and banks not living up to their responsibilities. My XXXX, XXXX and XXXX are through the roof. I have not been able to deal with these multiple issues because I am unable to concentrate when all of these factors are present and it has taken me this long to reach out to someone to make them accountable. 

Thank you for your time and consideration with this matter. Should you have any questions I can be reached at XXXX. Please leave a message as I am receiving scam calls since I reached out to request help. 


Sincerely, XXXX XXXX XX/XX/2021 I called NewRez after seeing the XXXX XXXX XXXX program online and was told it was not offered. 

XX/XX/2021 Talked to XXXX XXXX explaining I was struggling and Im with XXXX XXXX and was requesting a loan modification to avoid going into foreclosure. He said since housing values have gone down, having an appraisal to get the loan modification would possibly make my interest rate and payment go up. I told him that would only make matters worse. I have borrowed money, used credit cards to keep up. My son has had XXXX twice, my daughter-in-law has XXXX and has had XXXX twice and I have had my granddaughter and I need assistance. 

XX/XX/2021 XXXX I called in to NewRez and was routed to a loss mitigation specialist for financial hardship - XXXX XXXX from customer service transferred me to XXXX XXXX who only looks at delinquent loans and mine is current. A hardship form will be mailed out. 

XX/XX/2021 Assigned XXXX XXXX as point of contact. 


XX/XX/2021 Point of contact now XXXX XXXX. Spoke with him and he stated it should be no problem to get loan modification lowering my interest rate and keeping the same terms. He would send it up and should get back to me by the end of week. 
I did not hear from him after sending multiple emails : XX/XX/2021 XXXX XXXX. I spoke with XXXX XXXX and sent a paper thru email to fill out and to send proof of income ( XXXX XXXX XXXX ) and payments or bank statements using loan ID XXXX and he would send up for an approval on loan modification. Also had me enclose a hardship letter. I explained I was paying over 40 % of my income on my mortgage. 

XX/XX/2021 Finally reached XXXX at XXXX XXXX. and he said he still hasn't heard anything and he couldn't tell me anything as it was taken out of his hands. I questioned this and he had me hold and came back and said his supervisor took over. It was being processed and that was all he could tell me right now. He would let me know something by the end of the week. 

XX/XX/2021 Spoke with XXXX at CFPB at XXXX and explained I had started asking for help in XXXX and I was ignored, given incorrect information. She said option 1 was to file a complaint and 2 I could ask for mortgage assistance elsewhere. 

XX/XX/2021 I called in again as I had not heard from XXXX and was told I was offered an extended term of 40 years and I only have 23 years left currently. I was not agreeable to that option after all this time of being told differently. I was told that I could have a 6 month deferral but all of it was due at the end of the 6 months. I explained that if I couldn't pay it now how would I possibly pay it at the end of 6 months. 

XX/XX/2021 Sent complaint to Consumer Finance ID # XXXX XX/XX/2021 Contacted XXXX XXXX, spoke with XXXX and he sent a packet to sign. I was unable to print. At this point my XXXX and XXXX were uncontrollable and this went to the wayside. 


The CFPB enforces several laws, such as the Truth in Lending Act and the Real Estate Settlement Procedures Act. Examples of common mortgage complaints include : Refinancing or modifying a mortgage loan Misreporting mortgage account status to you or to credit reporting agencies for those homeowners who do not have federally financed mortgages, the CARES Act provides mortgage forbearance by giving those homeowners the right to request and obtain a forbearance for up to 180 days. Additionally, once that 180 days runs out, the Cares Act provides for that homeowner to request and apply for another 180 day extension. The Act provides that no additional fees, penalties, or interest will apply. Furthermore, no additional documentation needs to be submitted other than your basic claim that you are experiencing financial hardship due to COVID-19 and are unable to make your monthly mortgage payment. 

A COVID-19 payment deferral allows you to bring your mortgage current by delaying repayment of forbearance amounts without changing other terms of your mortgage. This option may be available if you can not afford a reinstatement or repayment plan. You will not be charged interest on the forbearance amounts, which will be due and payable at the maturity of the mortgage loan or earlier whenever you sell or transfer of the property, refinance the mortgage loan, or pay off the interest-bearing unpaid principal balance. Talk to your mortgage servicer about how escrow payments will be handled for this option. 

I was never offered this option and I did send information in to XXXX If you are a homeowner, have your financial information handy and contact your mortgage servicer ( the company listed on your monthly statement ) to request help if youre concerned about your mortgage payments. And, if XXXX XXXX owns your mortgage loan, our XXXX XXXX XXXX ( XXXX ) can help you navigate the mortgage relief process and address other financial challenges. Visit XXXX to learn about our available mortgage assistance and relief options. 

FHFA Expands Use of Interest Rate Reduction to Help Borrowers with a COVID-19 Hardship Reduce Their Monthly Mortgage Payment Changes to loan modification terms will help borrowers stay in their homes FOR IMMEDIATE RELEASE XX/XX/2021 Washington, D.C. Today , the Federal Housing Finance Agency ( FHFA ) announced changes to loan modification terms for COVID-19 impacted borrowers with mortgages backed by XXXX XXXX or XXXX XXXX XXXX XXXX  XXXX ) needing payment reduction for successful home retention. The updated terms are specifically for borrowers with permanent COVID-19 hardships and respond to the unprecedented nature of the pandemic. 
Flex Modification terms will be adjusted for COVID-19 hardships making interest rate reduction possible for eligible borrowers, regardless of the borrower 's loan-to-value ratio. Previously, only borrowers with mark-to-market loan-to-value ( MTMLTV ) ratios greater than or equal to 80 percent were eligible for a possible interest rate reduction. MTMLTV is a ratio that compares the balance remaining on the mortgage to the current market value of a home. 
Allowing more families to qualify for an interest rate reduction will prevent unnecessary foreclosures, help strengthen the Enterprises ' books of business, and make sustainable homeownership a reality for more families currently living with the uncertainty of forbearance, '' said Acting Director XXXX XXXX XXXX. 
Today 's action is just the latest step FHFA has taken to benefit homeowners and the mortgage market during the pandemic. FHFA continues to monitor the effect of the COVID-19 servicing policies on borrowers, the XXXX and their counterparties, and the mortgage market. FHFA may extend or sunset its policies based on updated data and health risks. Homeowners and renters can visit consumerfinance.gov/housing for up-to-date information on their relief options, protections, and key deadlines.

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