Consumer complaint received 2022-06-24
Company: Shellpoint Partners, LLC
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Please note : This is the second Consumer Finance Protection Bureau XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. The facts are as follows : I am an XXXX in XXXX, Georgia. My office closed a refinance transaction for XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX. The client 's property is identified as XXXX XXXX XXXX XXXX, XXXX, GA XXXX. The collateral on the mortgage loan was the real property and a XXXX XXXX Manufactured Home. The lender who was paid off in conjunction with her refinance transaction was Shellpoint Mortgage. 

The loan number with Shellpoint in conjunction with her refinance that was paid off was # XXXX. 
As I noted in my prior complaint, my office remitted payoff funds on XX/XX/XXXX, upon the expiration of clients three day right of recission. We enclosed was copy of the payoff letter sent by my office, which provided very specific instructions regarding cancellation, and the delivery of the manufactured home title to our office. 
It was my expectation that Shellpoint might not have the actual manufactured home title, as the records of the Office of the Clerk of Superior Court of XXXX XXXX, Georgia reflect that the initial mortgage was with XXXX, and had been transferred and assigned multiple times since originally taken out, eventually being held by Shellpoint. ( I attached copies of the assignment to Shellpoint, and the other documents on record with the Clerk ). The security deed has now been marked cancelled of record, but this is not all that is required, as the manufactured home title also reflects a lien. Our correspondence had further advised that in order to obtain the replacement title, and secure the new lender in the property, that a signed Georgia Department of Motor Vehicles T-4 form, releasing the lien against title, needed to be signed and returned to us in the event that Shellpoint did not have the physical title to send to us. With the T-4 release, our office should be able to obtain a replacement ittle for the client. However, we can not do this without a signed T-4. The T-4 was also included with our correspondence to Shellpoint. 

In response to the first Consumer Finance Protection Bureau Complaint, Shellpoint responded that as lender, they did not have an interest in the manufactured home located on the property. This did not make sense, as there are no stick built improvements on the property, and the sole residence thereon is the manufactured home. The type of loan paid off would not be the type of the loan for which there are not improvements as part of the collateral. However, I have not been able to follow up until now, as it has taken several additional months to obtain lienholder information from the Georgia Department of Motor Vehicles for the manufactured home title. 

I now enclose a copy of that information obtained from the Georgia Department of Motor Vehicles. As NOTED AND HIGHLIGHTED on that printout, the lienholder is Greentree Financial Corporation. Green Tree is the direct predecessor in the line of title to to NewRez, LLC d/b/a Shellpoint Mortgage Servicing. 

I once again enclose copies of the assignments of this loan from the records of the XXXX XXXX Clerk of Court : XXXX Mortgage assigned the loan to XXXX XXXX XXXX XXXX XXXX ; which assigned the loan to GreenTree ; which as DiTech Financial f/k/a Green Treet then assigned the loan to NewRez d/b/a Shellpoint. 

I would also further note that according to what I have been able to find on the internet, Green Tree became Ditech Financial LLC on XX/XX/XXXX. I would further note that NewRez LLC ( which operates the d/b/a Shellpoint Mortgage Servicing ) acquired the assets of Ditech Financial LLC according to the NewRez announcement of XX/XX/XXXX. 
XXXX XXXX XXXX  The lienholder section of the manufactured home, the assignment of records at the XXXX XXXX XXXX Georgia Courthouse XXXX and the corporate history of NewRez d/b/a Shellpoint all reflect that as the successor in interest to Green Tree ; that the proper entity to execute the T-4 Lien Release of the Manufactured Home is New Rez d/b/a Shellpoint as successor in interest to Green Tree. 

I would appreciate the prompt release of this lien such that the borrower may obtain her manufactured home title. A T-4 Lien Release is once again enclosed as part of this documentation. The T-4 Lien Release ( enclosed ) may be sent to my office via US Mail at : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX, GA XXXX or via overnight delivery to : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX, GA XXXX

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