Consumer complaint received 2017-01-29
Company: Shellpoint Partners, LLC
State: MN
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan modification,collection,foreclosure

Complaint:
I 've been dealing with Shellpoint Mortgage Servicing since they bought my Equity loan from XXXX in XX/XX/XXXX. I 've been trying since XX/XX/XXXX to get Shellpoint to work with me. They just keep sending me a standard form letter saying the principal balance is due ( {$33000.00} ). I 've been trying to find ways to pay off this loan. I completed Shellpoints ' Uniform Borrower Assistance Form and sent along financial documentation ( annuity statement, XXXX & XXXX taxes, 2 bank statements, hardship letter ) to obtain a repayment plan. I also informed Shellpoint that I am retired and on a set monthly annuity and I could make payments of {$400.00} a month. Or, if I pay the minimum on my credit card I could pay {$700.00} a month. Faxed on XX/XX/XXXX and I also mailed the same documents I called the Shellpoint contact I have XXXX to see if he received the Fax, got Voice mail. Called again on the XXXX, XXXX of XXXX, voice mail. He finally returned my call on XX/XX/XXXX. He had not done anything with the documents I had sent, now he needs more current bank and annuity statements, I faxed on the XX/XX/XXXX. I still have not heard if this packet of documents have been reviewed by their underwriting department. So they are not accepting my money and they are not working with me to get this loan paid off. Contacted XXXX who has my current mortgage and asked them about refinancing my current mortgage to roll in this loan. They said if I refinanced it would up my interest rate and as that is not beneficial to me they would n't do it. Applied for refinance with XXXX. Everything was going smoothly until XXXX called Shellpoint a 2nd time for a Payoff amount and Shellpoint told them I was late. So then I did n't qualify for the FHA loan anymore and XXXX wanted to switch it to a conventional with {$9000.00} in closing fees. Applied and was approved for a personal loan with XXXX for $ XXXX and I called Shellpoint to offer this cash to close the account. No response from Shellpoint to the $ XXXX cash pay off. In fact, I have n't heard a word from them. No phone calls or anything. I got approval for a personal loan through XXXX Loan for the {$33000.00} which would cover the principal balance of {$33000.00}. XXXX Loan wired the money to Shellpoint on the XX/XX/XXXX. Shellpoint returned it on the XX/XX/XXXX with no explanation. I ca n't seem to get anybody at Shellpoint to help. I have n't been able to get a number for the billing department to find out why they returned the {$33000.00}. Shellpoint also returned the payments I sent for XXXX ( {$350.00} ) & XXXX ( {$300.00} ). By not working with me on getting a prepayment plan and then returning money I 've sent in a good faith effort to pay off this debt. This kind of customer service should be illegal. I 've lived in this home 26 years and I am fearful that Shellpoint will foreclose on my home for the principal balance of {$33000.00} even though I 've tried to pay them.

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