Consumer complaint received 2023-07-01
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Shellpoint Partners, LLC (WA)

this is in response to Shellpoint 's last response to my many-times filed request to remove PMI, and the CFPB complaint # XXXX. 

OK XXXX XXXX- you are simply NOT 'getting it ' and are attempting to continue delay and obfuscating the point and also my multiple requests to have PMI removed. Let me lay it out for you : 1 - I am well aware that I have a conventional loan, which- under XXXX, was backed by XXXX XXXX 

2 - Since Shellpoint TOOK ON SERVICING ONLY of my mortgage eff XX/XX/XXXX, XXXX XXXX XXXX still held the note and owned my mortgage, not Shellpoint. 

XXXX I am well aware that XXXX XXXX ( brought up on previous fraud charges by all leadership save XXXX, in recent years and now w/a new CEO/ladership because of it ) in the indentured trustee on the mortgage now. Clear as mud. 

4 - My request- as laid out NUMEROUS TIME BEFORE and filed online in the form of all these complaints, is this : While XXXX held my note, and even with Shellpoint Servicing my mortgage, I requested to have PMI removed, several times from XXXX XXXX XXXXXXXX. I spoke with several different operators who assured my i would receive paperwork to request a BPO evalution and that I would be charged a fee for this and that was the next step. This next step never happened. I have clearly laid out the timeline and my PMI removal requests that ocurred. You don't know the regulations or the fact that conventional loans NEED NOT BE OWNED BY XXXX to have PMI removed with an increased value/equity due to and appraisal. With XXXX as OWNER from XXXXXXXX XXXX XXXXXX/XX/XXXX, this was in fact part of their servicing offering/allowance and also Shellpoint 's ; below is a direct cut/paste from Shellpoint 's website re PMI removal options and the link to the Shellpoint page for reference : https : //www.shellpointmtg.com/helpful-tips/mortgage-help/what-is-pmi/ Monitoring home value The other way you may be able to pay less PMI is to carefully monitor your homes market value. In a strong housing market, its possible that your home may be worth a bit more every month you live in it. If youre confident that your homes value has significantly increased ( beyond the principal payments youve made ), talk with us and request a new valuation. Note : Youll have to pay for the valuation, which could cost as much as {$500.00}. But if the new valuation reveals that your LTV ratio is 80 % or less, you can ask us to cancel your PMI. 
-- -- -- So I will ask you again XXXX XXXX, why has Shellpoint not honored all the many requests that I made to have PMI removed based on the potential valuation of my home ( that I was prepared to pay for but ALSO backed/bolstered up by the value XXXX put in writing for my home ), and why has Shellpoint delayed their responses for XXXX MONTHS in the times that I made the requests BEFORE XXXX XXXX took over as 'indentured trustee '. My requests are not unusual for any CONVENTIONAL home owner who pays PMI and has done a major renovation - and especially home owners in expensive cities, like XXXX, which has seen home values skyrocket in the past 10 years. 

In response to your/Shellpoint 's 'taking matters very seriously ' -- I think not. You and your office have disregarded my complaints each time I have filed with CFPB and issued a blanket response without looking at timelines, onwership, and conventional mortgage/servicing perimeters. Your/Shelpoint 's operators/'CSA 's " have provided me info that confirms I am eligible and yet no action was taken to schedule a BPO- even though I was assured I would receive a form, an email, a schedule to make this happen. And -- I believe it was YOU, XXXX XXXX, who decided to issue a XXXX COVID deferment that I NEVER requested because upon transfer of my mortgage to Shellpoint for servicing, Shellpoint botched my mortgage value and attempted to charge my {$50000.00} higher ( so higher interest payments each month ) for my mortgage. So- please do not tell me that you/Shellpoint take things seriously. Shellpoint/you are prone to errors -- - as my filing yet another complaint with CFPB confirms because this the LAST thing I want to be doing on a friday night but must because you have STILL NOT RESPONDED -- and I'm going to say, at this point, perpetuates delays that constitute fraud. You have misinformed me- you have issued a XXXX deferral, you have not responded to my requests within the scope of my questions or timeframe. You/Shellpoint have turned a blind eye to all my requests since my loan was transferred for servicing on XXXX XXXX, XXXX. The lack of regard constitutes theft. If I were to have your job I would be fired by now but because you aren't fired- my guess is that your leadership is just as bad as you are and supports this theft ( first in the guise of attempting to charge my {$50000.00} higher on my mortgage, now by not honoring my request early and often to remove PMI ). The next step is to schedule a call w/you and a representative/HUD counselor who has agreed to help with this. You tell me your schedule and I will coordinate the call with HUD. ( attached is your response ( dated XX/XX/XXXX ) to the last complaint I filed w/CFPB. )