Consumer complaint received 2021-08-27
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Shellpoint Partners, LLC (GA)

On XX/XX/2021 My husband and I decided to refinance our home loan with XXXX XXXX  XXXX XXXX. When we decided to refinance our loan we also decided going forward we would waive our escrows and pay them ourselves. 

We received a Mortgage Statement in the mail from our previous mortgage company Newrez with a statement date of XX/XX/2021 due on XX/XX/2021 letting us know that our current escrow balance was {$4100.00}. 

On XX/XX/2021 XXXX XXXX XXXX XXXX  ordered a payoff from my loan with Newrez. The payoff had a principal balance of {$310000.00}, interest to XX/XX/2021 {$660.00} ( this was later updated on the Final Closing Disclosure adding 5 more days with an additional {$160.00} in interest making my payoff good thru XX/XX/2021 ). A release fee of {$25.00} and Funds owed by borrower {$590.00}. At the time my total payoff was {$310000.00}. 

After speaking with the processor at XXXX XXXX XXXX XXXX I told her my mortgage payoff should not be that high. At the time I didn't have a copy of the payoff in hand and the processor said she didn't know what the {$590.00} charge was for. 

After getting off of the phone with the processor at XXXX XXXX  I called Newrez and asked to speak to someone in the escrow department. I was transferred to Customer Service instead. I was told there was no escrow department. 

The Customer Service Rep at Newrez said the {$590.00} fee was to cover my MI  payment. I asked if the MI  payment could be taken out of my escrow account like it had been over the past year? The Rep said she was unable to have the MI  deducted from my escrow account because the system wouldn't allow her to do it that way. 

On XX/XX/2021, the day of my refinance, the balance in my escrow account was {$4100.00}. That same day Newrez took out {$290.00} for my MI payment, leaving me with a new balance of {$3800.00}. On XX/XX/2021 the day my refinance funded Newrez added back into my account the {$290.00} that was taken out on XX/XX/2021 bring my balance back to {$4100.00}. 

After my loan funded with XXXX XXXX receiving an escrow check in the mail in XXXX. When I noticed the amount was not {$4100.00} I called XXXX to find out why the check was only in the amount of {$3800.00} instead of the full amount? This amount would have been fine if I hadn't already paid the full amount of {$590.00} for MI at closing. 

I was told that the MI  payment needed to be paid and that the check was the correct amount. I informed the person I was speaking to that the MI  amount of {$590.00} was added to my loan payoff and the MI  payment was paid at the closing, therefore nothing should have been taken out of my escrow account. 

Customer Service said they could not resolve the issue and I would need to email XXXX about the matter. I've emailed XXXX with copies of my escrow history and a copy of the loan payoff that was paid at closing with the MI charge three times. I've called Customer Service several times and they still believe that taking the money from my escrow account bring my MI current AND collecting the same amount on the loan payoff that was paid at the closing was the correct thing to do.