Consumer complaint received 2017-08-24
Company: Shellpoint Partners, LLC
State: CA
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
I have a HELOC loan. Originally with XXXX XXXX as interest only. sold 3 times from XX/XX/XXXX. each time it was sold i confirmed with new servicer what agent originally told me, that loan was interest only for life of loan. current servicer is XXXX XXXX. Horrible customer service. Sold approximately 7 months ago. 

First payment amount incorrectly calculated. called, they said too bad that 's the way it goes and " it will all work out in the end ''. the first payment was {$500.00} above what i owed, i paid, the next month it was credited. I HAVE NEVER MISSED A PAYMENT OR BEEN LATE EVER WITH ANY SERVICER, INCLUDING THIS ONE. Payment due date on XX/XX/XXXX of the month. 

Next several monthly statements all have 3 figures on them, " Principal balance '', " credit limit '' and " previous balance ''. none of those figures make sense, as have all changed and appears balance which interest is being calculated on is going up, not down. Payment interest only was around {$1100.00}. always paid that. XX/XX/XXXX went up to XXXX called and tried to understand but little help. Paid it. 

Called to find out XX/XX/XXXX payment and told it was now {$3000.00}, up a total of {$1900.00} additional in 2 months. Started calling on XX/XX/XXXX re problem. No help, rude people. Talked with XXXX on XX/XX/XXXX. Talked with XXXX XX/XX/XXXX. another call XX/XX/XXXX. Talked with XXXX XXXX XX/XX/XXXX. XXXX XX/XX/XXXX. XXXX XXXX XX/XX/XXXX. Told her XXXX XXXX had called me, i talked with her, she agreed there was something wrong but was leaving that day for vacation of 2 weeks and was turning over to XXXX XXXX (? ) to do a spreadsheet on what was happening and he would contact me. NO RESPONSE at all. 
Told her NOT TO SEND ME TO XXXX 's VM as i knew she was on vacation. She put me on hold and next thing was XXXX 's VM even though i had told her. 

Called back and asked for XXXX. Was told by XXXX XXXX ( really nice woman finally ) that i knew he worked in the evening but had been 5 days since XXXX referred to him and still no WORD. She gave me name of XXXX 's supervisor, XXXX XXXX, but he was in a meeting. She was going to send him URGENT email as well as put me through to his VM and i left an urgent message. 

This company is absolutely horrible to deal with. I believe there calculations from the very beginning may have been wrong, and no one is willing to take on a request for explanation of recalculations of payments or any responsibility as i can see. I hoping for some help from XXXX. I will see. BUT I DO NOT RECOMMEND THIS SERVICING COMPANY AT ALL. I intent to also file a complaint with the State of South Carolina where their home office is located, as well as the State of California where i am located. 

I can not imagine how many other people are or may be being overcharged on their mortgage payments and no oversight and/or losing their homes to this company where you ca n't get any help. Thank you.

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