Consumer complaint received 2020-11-19
Company: Shellpoint Partners, LLC
State: IL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Company involved. Shellpoint mortgage servicing/newrez. Issues During servicing and after loan was paid off with this company. 

I refinanced my loan on XX/XX/XXXX and i no longer owe anything to this company. They do not respect the loan terms on my loan, and most agents cant do much, apart from sending an email to their loan servicing department that has no phone number to ever be reached. It is impossible for me at this point to collect my money they hold on prepaid interest part from my payoff quote. Also they keep on trying to put a prepayment penalty on my loan. And they have never heard of sending prepaid interest on payoff quote if the loan got transferred and they got their money in advance. 
The dates are as follows payoff quote issued XX/XX/XXXX. Closing on new loan with another company signed XX/XX/XXXX. Payoff cleared on shellpoint side on XX/XX/XXXX. 
Payoff quote as follows : Principal balance {$97000.00} Interest to XX/XX/XXXX {$1000.00} ( to be prorated and balance refunded to customer ) Prepayment penalty {$0.00} Release fees {$98.00} Total payoff {$98000.00} ( cleared in their account on XX/XX/XXXX ) The only refund i have pending to be received by mail is my escrow. 
When i call them about my interest that they owe me back for 23-24 days for which they are not the lender on the account they are either not sure what i am talking about or they claim that i have prepayment penalty and they owe me nothing. 
1. I do not have prepayment penalty because the payoff quote says {$0.00} 2. My loan with them was with interest of 8.25 %. My loan terms as signed XX/XX/XXXX say that if my interest is higher than 8 % i can make a full prepayment without paying a prepayment charge. Also based on the terms of my loan i can only be charged any prepayment charge for the first 24 months only. My original loan was signed XX/XX/XXXX. 
As far as attempting to contact them, I have escalated the issue XX/XX/XXXX and was supposed to receive a response within 24 hours. Since i got no one to contact me for 2 days i called again today XX/XX/XXXX. I was told they are submitting for review and that i have a prepayment penalty that needs to be removed. Still the numbers still do not add up. And i couldn't get a full number on my refund. I was told to call again after 3-4 business days. 
I am pretty sure nothing will happen the next time i call unless i report them. 

In regards to the issues during the servicing period. 
They conveniently made a mistake of paying my insurance twice instead of once ( in XXXX and then XX/XX/XXXX ). By the time i found out and received the overpayment check from the insurance company ( end of XXXX beginning of XX/XX/XXXX ) they already had conveniently completed their annual escrow reevaluation. Of course my account went on negative and as a result they added {$230.00} monthly to my escrow for the entire year. My original escrow was {$170.00} and went to {$400.00}. In other words I would have overpaid {$2700.00} ( on 12 months basis, an i refinanced ) because they sent a {$450.00} check twice.

Company public response: Company believes the complaint is the result of a misunderstanding
Company response to consumer: Closed with explanation