Consumer complaint received 2017-06-22
Company: Shellpoint Partners, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
My problem is with the current servicer of my mortgage loan, Shellpoint. They promised me the world and led me to believe they would engage in a fair and transparent negotiation to resolve my delinquent mortgage loan. However, after spending weeks collecting the requested documentation, the underwriter told me that the file was denied because of a technicality regarding my husbands income. My husband is a XXXX XXXX and he works in XXXX XXXX, but that is the nature of his employment. We provided Shellpoint with one year of income information, but the underwriter insisted that since he could not provide 4 consecutive paystubs at the time of review that she would not even review our file and that we were denied. And now we have a sale date set for XX/XX/XXXX.
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I experienced a large decline in my income several years ago when my radio station became part of XXXX XXXX. I am a XXXX XXXX XXXX and my rate of pay was drastically cut, which led to me struggling on my mortgage loan. At that time my loan was with XXXX XXXX XXXX and I applied for help. I was overjoyed when I received a letter stating that I was approved for the DOJ loan modification program and that I would be receiving a lower rate and payment as well as the possibility of principal forgiveness. However, before this could be finalized my loan was transferred to XXXX XXXX XXXX. They were very difficult to deal with and I spent two years going back and forth with them in an attempt to get a complete review of our financial information conducted. I filed a complaint against them with the California AG, and we were referred to the county DA, who had an investigator working on putting together a case against XXXX  for intentional misconduct and unethical behavior relating to distressed homeowners. The investigator interviewed me and I provided documents for him. I informed XXXX of this fact, and they set a sale date on my home. Luckily my Congressman got involved to assist in this matter and they were able to put some pressure on XXXX  and the sale date was postponed and they told me they would complete a review. Then they sold the loan to Shellpoint.
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When I first started talking to Shellpoint, the experience was much different than XXXX. Our representative was responsive ( initially, no longer ) and worked together with us to get a full package together of all the financial information that Shellpoint required to review us for workout options. My husband makes very good money as a XXXX, and even if you average his income based just on the amount of time that he actually works, we make sufficient income to afford a reasonable mortgage payment. Once it was decided that we had a complete package we submitted the information to Shellpoint. When we followed up we were told that since my husband could not document paystubs for four CONSECUTIVE weeks that they could not use ANY of his income, thus our entire request for assistance was denied. We had provided a letter of explanation as to how his profession works, a letter from his XXXX boss stating that he was in good standing, and multiple paystubs showing that he worked an average of 2 weeks per month over the last year. For some reason this was not good enough for Shellpoint, they not only refused to calculate what type of contribution my husband was making, they simply cancelled out our modification request.
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Since that time, we have been waiting for my husband to get 4 weeks consecutive on a jobhe is scheduled to start a long-term project inXX/XX/XXXX and we were excited that we could finally apply againwe called Shellpoint last week to make sure there was no sale date and they said there was no sale date. Two days later we got a notice in the mail that our house was going to be auctioned off on XX/XX/XXXX

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