Consumer complaint received 2022-06-06
Company: Shellpoint Partners, LLC
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
To whom it may concern : I have been on COVID-19 forbearance with Shellpoint since the summer of XXXX. I took on a COVID-19 forbearance due to ongoing financial hardship. I have been in regular contact with my mortgage servicer about the servicing of my forbearance. I am writing this complaint because I believe they have been out of compliance with their notifications about my options for resuming payments. They haven't sent me information about my rights, including how to access support through HUD and New York state. Each SPOC I work with also tells me different, sometimes conflicting information. 

The issues : 1. 1. I believe they are out of compliance with COVID-19 forbearance procedures. They keep requiring extra documentation in order to do a loan modification. At one point, they wanted to re-underwrite my whole loan. They have not been able to explain how or why they reach these decisions regarding my loan.

They have continually been unable to provide documentation when requested. Their SPOCs tell different information every time I'm in contact with them. They refuse to put things in writing.

2. I had requested a continued forbearance in XX/XX/XXXX on my property and they refused to discuss the matter. The supervisor, XXXX XXXX, via email on XX/XX/XXXX denied further review on our case without providing sufficient reasoning when requested. 

We've also been in contact with other members of their loss mitigation team : XXXX XXXX and XXXX XXXX. Once again, they make it exceedingly difficult to maintain regular contact with one individual. Each individual explains the company policies differently, and enforces different things differently. They give different information on the paperwork required for a continued forbearance. We've been told we need to resume payments.

3. In addition to being denied a continued forbearance, at no time have they informed us of our options exiting a COVID-19 forbearance. We have not been told the options we have. Instead, we have been told continuously that we owe the unpaid funds from forbearance in one lump payment. We have not been given any other options as should be available to us. They have not given us further information on other loan modification options available to us after denying us the extended our COVID-19 forbearance. 

Additionally, Shellpoint has also not sent any disclosures about state and federal resources available to us as homeowners to avoid foreclosure as per legal regulations.

4. They consistently tell different stories about how to bring our accounts current. Our SPOC, XXXX XXXX, is difficult to reach and doesn't like to engage via email, despite our request since there's two borrowers on the loan and it's easier for us to be both in the loop. He does not call us at the times we've requested. This has also been the case with other SPOCs that we've dealt with. 

The SPOC, XXXX XXXX, also is using incorrect documentation about own loan. He keeps claiming we have undisclosed funds that we should be using to pay the loan. The funds he keeps pointing to are the funds we used to pay the downpayment on this property. This should be in their internal system as the funds used for downpayment at the origination of this loan. We've told him to check his documentation and he keeps asking for these funds that simply don't exist.

5. Right now, we are " behind on payments '' and owe the balance of what we put on COVID-19 forbearance. We have been pressured to make payments immediately. Their actions lead us to believe that they are pushing us in a direction to where we'd have to sell our home or deed it to them.

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