Consumer complaint received 2024-10-28
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Payment process
Company: Shellpoint Partners, LLC (TN)

My mortgage was sold by XXXX XXXX  on approximately XXXX to Specialized Loan Servicing.

Specialized Loan Servicing erroneously paid an insurance bill ( previously paid by XXXX XXXX  ) which resulted in an escrow shortfall. I received a refund from the insurance carrier and sent those funds back to Specialized Loan Servicing to be deposited into our escrow account. Those funds were deposited into our escrow- thus curing the deficit. 

However, Specialized Loan Servicing had already requested an increase in our payments to cover the escrow shortfall. The new payment amount was {$1800.00}. 

Specialized Loan Servicing transferred our loan to Shellpoint Mortgage approximately XX/XX/XXXX. 

After numerous contacts, I requested a new escrow analysis and received a new payment statement from Shellpoint Mortgage indicating that as of XX/XX/XXXX, our monthly payment would be {$1600.00}. ( After having paid the erroneous higher payment amount for 3 months. ) Since XX/XX/XXXX, the following payments were made : XXXX XXXX, XXXX to Specialized Loan Servicing = {$1600.00} for XXXX, XXXX XXXX XXXX, XXXX to Specialized Loan Servicing = {$1600.00} for XXXX, XXXX XX/XX/XXXX to Specialized Loan Servicing = {$1600.00} for XXXX, XXXX XX/XX/XXXX to Specialized Loan Servicing = {$1600.00} for XXXX, XXXX XX/XX/XXXX to Specialized Loan Servicing = {$1600.00} for XXXX, XXXX Received notice of new erroneous payment amount from Shellpoint. 
XX/XX/XXXX to Specialized Loan Servicing = {$1800.00} for XXXX, XXXX XX/XX/XXXX to Specialized Loan Servicing = {$1800.00} for XXXX Shellpoint claims to have refused or not received the XXXX XXXX payment from Specialized Loan Servicing Received notice from Shellpoint Mortgage of new payment amount of {$1600.00} as of XX/XX/XXXX XX/XX/XXXX to Shellpoint Mortgage = {$1600.00} for XXXX ( unapplied to account ) XX/XX/XXXX to Shellpoint Mortgage = {$1600.00} for XXXX ( unapplied to account ) XX/XX/XXXX additional payment to Shellpoint Mortgage = {$1800.00} for XXXX because Shellpoint 's escrow notice had led me to believe that no payment was due for XXXX. 
XX/XX/XXXX to Shellpoint Mortgage = {$1600.00} for XXXX ( unapplied to account ) Shellpoint continues to claim that I owe an additional {$460.00} - and they say that their computer system will not allow my regular monthly payments to be " applied '' until the additional {$460.00} is paid. I do not owe an additional {$460.00}. 

I have spoken with three different representatives at Shellpoint Mortgage since XX/XX/XXXX in an effort to clear up the mathematical problem. I was told that Shellpoint was running a new escrow analysis which could take quite some time to complete. 

Because Shellpoint has not deposited my payments for XXXX, XXXX, or XXXX against my principal and into my escrow account ( and are holding those funds as " unapplied '' ), my escrow account will soon appear to be in deficit - allowing Shellpoint to send me another " escrow increase '' notice. 

We have received written notifications from Shellpoint of our rights in the event of foreclosure. 

I haven't checked our credit report, but will be doing so.