Consumer complaint received 2021-09-28
Company: Shellpoint Partners, LLC
State: SC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I attempted to refinance with the company NewRez LLC and they lied to me through the entire process. First and foremost I was told my rate was locked and signed a Loan Estimate ( attached ) with a rate of 2.75 % and {$1000.00} lender credits in points. I have an email on XX/XX/XXXX ( attached ) from my loan officer clearly stating the rate was locked and that I should be receiving docs on this. These docs were seemingly never sent and when I asked to see them in early XX/XX/XXXX I was told they were " expired '' and I could not access them. They then sent me an Initial Closing Disclosure on XX/XX/XXXX which had the {$1000.00} in lender credits removed. When I confronted them about this the loan officer told me it was because my property type is actually a condo and not single family. That was a lie because I submitted the application as a condo, and my current mortgage is managed by them as a condo for the exact address. I proceeded to press the Loan Officer about how this mistake was made, and at first he deceivingly told me that the price change is because the home is " no longer a single family home but now a condo ''. I cornered him into his own lie, and he finally admitted it was his mistake and there is nothing he can do about it. I'd say this is a textbook bait and switch as I gave them the correct information and it's up to them to handle it correctly. 

They then proceeded to inform me on XX/XX/XXXX that if I wanted to proceed with the deal I had to elect their closing attorney, which I had not. The property is located in the state of South Carolina where it is up to the buyer to select an attorney. They told me that the deal required their attorney and redacted my documents in an email on XX/XX/XXXX ( attached ). They then pushed me to schedule to close on Saturday XX/XX/XXXX and told me I needed to use their closing attorney to do so. Mind you, they scheduled the closing appointment on XX/XX/XXXX for XX/XX/XXXX and I had yet to sign the Initial Closing Disclosure. If I'm not mistaken TRID laws require Initial CD to be signed three days before closing. 

The next day on XX/XX/XXXXthey sent me the final closing documents which my rate became even higher than what they originally quoted me at. It went from 2.75 % with $ XXXX in lender credits, to 2.75 % with a {$3100.00} rate buy-down of 0.75 % in points. I confronted the loan officer on the points buy-down he told me that if I " wanted those to go away, the interest rate will just be higher. '' He was explaining this to me as if I didn't understand the concept of rate lock. It was at that point I knew I could not trust these people and cancelled the deal. Additionally, their website indicated my rate is locked, although it clearly was not. I was never informed what so ever of floating points which is what the CD indicates. I was told my rate was locked. 

After telling them the refinance was cancelled, they proceeded to harass me attempting to steam roll the deal onto me with several phone calls, voice mails, and emails indicating that i should speak with a " professional '' on why things changed. This company is seriously up to no good. I told them three times that this deal is cancelled, they stated they received notice of my cancellation, and are still harassing me with openings for closing appointments. 

Additionally the Initial Closing Disclosure and Final Closing Disclosure have different loan amounts indicating a change of circumstance which I was never officially notified of.

Company response to consumer: Closed with explanation