Consumer complaint received 2023-04-27
Company: Shellpoint Partners, LLC
State: WA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Due to a house fire we were nonrenewed by our insurance company. We had a very difficult time finding replacement insurance coverage because 1 ) the claim was still open, 2 ) the claim was very large, and 3 ) the house was unoccupied ( because it is being rebuilt ). The only insurance company we could find that would write our policy required immediate payment to bind the policy so my husband put it on our credit card. The policy was extremely expensive - $ XXXX - but we paid for it on our credit card. NewRez got a copy of the policy and, even though we had paid for it up front ourselves, has been escrowing for that amount ever since. The first time I called, on XX/XX/XXXX, I was told that NewRez paid for the policy premium themselves. Which is incorrect. I double checked with the insurance company and they tell me that they didn't invoice NewRez and that the payment they have on file is from my husband. I called back on XX/XX/XXXX with this information and was told that to go to the website and request that escrow account be removed. I followed the representative 's specific instructions to go to the " Contact Us '' form, choose " XXXX XXXX or XXXX '' for what is your questions about. Then choose the drop down for " Requesting my escrow account be deleted ''. I followed her instructions WHILE ON THE PHONE with her. The website says I'll have a response in XXXX business days but I only got an automated email, immediately, that acknowledge activity on their website. I heard nothing for more than 20 days. Then when I called to ask the status I was told they had no record of my request, that I actually have to submit that request in writing ( new information to me ), and that it will take XXXX - 45 days. I explained the situation in detail, including the fact that these were not the instructrions previously provided and I was given no recourse. When I asked to speak to a manager and asked why, if the rep had told me the wrong instructions, and if I had submitted it incorrectly on a website that said I would have a response in XXXX days why no one had contacted me to tell me that I needed to submit it in writing. They made NO ATTEMPT to help me with my problem, my request to the website went UNADDRESSED for more than 20 days, and the manager not only told me there was nothing he could do, but he ADDED MORE INSTRUCTIONS to what I needed to do including that not only do I have to submit the request in writing but I also need to include a copy of a paid receipt for the insurance. SOMETHING NONE OF THE OTHER REPS had mentioned. So again, they have been aware of the issue that they are taking an extra $ XXXX of my money to sit in an escrow account, on a policy that I have already paid for myself, they gave me INCORRECT instructions on how to rectify the situation, and now they're telling me to start all over so they can sit on my money for an ADDITIONAL 30-45 days. This company continues to find new ways to hold my money and make interest off of it, while I have to apply for additional loans to cover my expenses.

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