Consumer complaint received 2024-10-10
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — An existing modification, forbearance plan, short sale, or other loss mitigation relief
Company: Shellpoint Partners, LLC (CA)

After applying for a loan modification with Specialized Loan Servicing 9 times ( and getting denied ) I hired attorneys. The 10th time I applied I was approved. This required actually suing SLS in the process. In XX/XX/XXXX, the modification was complete. My loan was an adjustable " interest only '' monthly payment for the first 10 years, and a balloon payment was due in XX/XX/XXXX. All was going quite smoothly, until... 
My loan was transferred to Shellpoint Mortgage/NewRez on XX/XX/XXXX. My XXXX bill was {$440.00}. When I received the next month 's statement, the billing amount had jumped 115 % to $ XXXX. I have made calls to Shellpoint/NewRez and have been told that after their acquisition of SLS accounts there was a nationwide error on customers ' amounts owed monthly.

Shellpoint submitted what they refer to as a " Task 947 '' review of my account. They sent me letters apologizing for the errors, adding that they were " diligently '' working to resolve the issue and it would be resolved in the " allotted time. '' I have asked to speak to one of the managers, XXXX XXXX, 4 times within the past month and am still waiting for her call. I have sent Shellpoint 4 emails explaining that I do not want my mortgage payments to be late, or accrue penalties, and that I was told of the nationwide error after acquisition from SLS. 
I dealt with SLS from XXXX through XXXX, for over 2 years, to get approved for this loan modification. 
Shellpoint is NOT following the terms and conditions of the loan modification. They are willy-nilly increasing my monthly payment because they say that I will have to start paying on the principal, although that is NOT WHAT is writtien in the loan modification document. 
I realize I have a huge amount of money to pay this unscrupulous and shady " servicer '' by XX/XX/XXXX, but that amount will be dealt with then. Nowhere in my loan modification does it read that principal will be added prior to XXXX. 
Please do not relay this to Shellpoint : I plan to refinance prior to XX/XX/XXXX. I am just trying to get all my ducks in a row : improve my credit rating, find a good fixed interest rate that I can afford and basically just trying to make my financial score as good as possible before applying for a refinance. 
It took me 2over 24 mos to get approved for the loan modification on this HELOC 2nd mortgage and I certainly do NOT want to go through another 24 months of XXXX with these people. 
I will be XXXX XXXX XXXX XXXX in XXXX. Shellpoint is a horrible loan servicing company : no followup, lying to customers, not calling when they say they will. I am trying to resolve this issue ( it seems ) by myself. I received a bill today in which they increased by mortgage payment amounts ( for the past 3 months ) by 115 % AND added penalties to those payments. 
I made a payment on XXXX XXXX in the amount of {$440.00}, the amount XXXX at Shellpoint told me to make. He even gave me a confirmation number. That payment was for XX/XX/XXXX. 
I made a payment on XX/XX/XXXX in the amount of {$440.00}, the amount XXXX XXXX told me to make. He also gave me a confirmation number. 
I found out today that neither of those payments has posted. Shellpoint said they are " partial '' payments. The bill I received today is for {$3500.00}. 
I don't understand how predatory lenders like these can legally still be in business. 
They are not supposed to change the terms and conditions of a written loan modification. And... they have done just that. 
Some of this may be retaliation against me, since I sued them in XXXX. 
I need some advice here as a letter they sent me 4 days ago had the words " call us to prevent foreclosure '' AND " we will report a negative finding regarding your account to the credit bureaus. I am, in good faith, trying to work with these people. They are trying everything in their power to change the loan modification and ( I believe ) to file a Notice of Default against my home. 
Please advise quickly. I don't trust this company at all. 
Thank you. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX p/s/ prior to Shellpoint 's acquisition of Specialized Loan Servicing, I had NEVER missed nor had I made a late payment. This all started in XXXX of XXXX.