Consumer complaint received 2024-10-29
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: Shellpoint Partners, LLC (FL)

My loan was transferred from Specialized Loan Servicing to Shellpoint on XX/XX/year>. On XX/XX/year> I submitted a complete loss mitigation application to Specialized Loan Servicing. The next day, the servicer referred my loan to foreclosure. 

This has negatively impacted me in several ways. XXXX is that my credit report now shows that I am in foreclosure ( to date a complaint has not been filed ). Second, is that I have been told that I am now ineligible for a partial reinstatement because the loan is in foreclosure. This started with Specialized Loan Servicing and continues to be what ShellPoint says. But this is wrong. I requested several times that my account be taken out of a foreclosure status because it should never have been there because I submitted a completed loss mitigation application. And that doing so will allow me to complete a partial reinstatement, but they have refused to do so. And have only offered me a streamlined mod with a new XXXX  year term. 

I told them that I did not want this, but this is the only assistance they have offered for me to stay in the home. 

Since the loan was transferred to ShellPoint, I have not been dealt with any better. For example, even though the loan had been transferred on XX/XX/year>, when I talked with ShellPoint more than a month later they still did not have access to the loan file. And I was told that they could not discuss the issue without having the full file. In response, I wrote a letter on XXXX XXXX XXXX detailing my issue, noting that Specialized Loan Servicing placed my loan in foreclosure contrary to the CFPB requirements, and that they never provided me with any of the required notices when they received my loss mitigation application, or noted that anything was missing. In my letter I asked ShellPoint for assistance -- and specifically that the loan be taken out of a foreclosure status, that I be permitted to partially reinstate the loan and that my credit be updated. 

In response, ShellPoint told me that I could request a partial or full reinstatement, which I then did. ShellPoint, however, only provided me with a full reinstatement option despite saying that I could ask for either. They also informed me that I could request the documents they used when reviewing my letter and request. On XX/XX/year> I requested ShellPoint : XXXX ) provide me with the documents they told me I was entitled to ; XXXX ) that I be offered the partial reinstatement, which they invited me to request ; and XXXX ) that my loan be taken out of foreclosure and my credit report updated. 

As of XX/XX/year> I have not received a response. 

During this time, I received a loan modification application and was presented with a trial modification. I have made the trial modification payments, but have told ShellPoint repeatedly that I do not want that, but would like to do the partial reinstatement. This will allow me to keep roughly the same payments, with a balloon and the same term. The modification will extent me term by XXXX years and in theory leave me making payments until I am almost XXXX XXXX XXXX. 

I spoke with a representative at the ShellPoint today and scheduled my last trial payment. And again when I asked where they were on my request for a partial reinstatement I was given the same answer -- the loan is in foreclosure and therefore that is not an option. I explained that the loan should not be in foreclosure and why. The representative placed me on hold, and was then told that they need additional time to review the file. When I asked when the review would be complete, she could not give me a time. While the representative was professional and courteous, I would expect that ShellPoint could have been in a position to address and correct the issue given the letter I sent in XXXX, and then again in XXXX, and then several emails in XXXX all of which went ignored except for the first letter.