Consumer complaint received 2024-07-17
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Shellpoint Partners, LLC (CA)

Loan closed for home on XX/XX/XXXX. Closing statement had money allocated for 6 months of taxes at {$8100.00}, Homeowners insurance {$2100.00} and another 3 months for mortgage insurance at {$540.00}. Then they took money from this for aggregate adjustment in amount of {$1600.00}. Payments then commenced on XX/XX/XXXX where {$1500.00} was used for taxes and insurance out of the total mortgage payment of {$7800.00}. This is how my mortgage stayed until XX/XX/XXXX. I also was billed for taxes that escrow used this money to make a tax payment of {$2600.00} on XX/XX/XXXX and on XX/XX/XXXX. I was also sent an assessment from the county for {$12000.00} to be paid in two {$6300.00} on XX/XX/XXXX and XX/XX/XXXX. Both were paid. The county received from me for the XXXX tax year {$17000.00} Seems correct for a home that cost {>= $1,000,000} with a tax rate for my city of 1.077 %. In looking at all of this I am wondering where the {$7000.00} tax I paid for went? That was left over from the {$8100.00} required at close? Also the previous owner paid the taxes in full. Also the notes say that they are to pay 2 % interest to me for holding my money. I have never seen any statement of invoice or letter stating what the interest amount due to me was. now fast forward to XX/XX/XXXX. I received an escrow account statement with a {$16000.00} refund check in it. STill no mention of any interest paid. But I received a refund and also they lowerd my house payment from {$7800.00} to {$6900.00}. This was all done by XXXX Mortgage. Now on to approximately XXXX of XXXX. I log into XXXX and it says that In a certain amount of days I will no longer be able to make payments online and I have to get setup with ShellPoint. Oh Okay. So I seup an make a payment of {$6900.00}. No issues all is good. I go in early XX/XX/XXXX to make my payment and the payment amount is changed. I understand that, homeowners in surance went up and tax rates for my city and county actually went down .01 %. But the total that Shell Point wants me to make for the next year is {$9400.00}. Thats a {$2500.00} increase per MONTH. I'm a senior citizen and there has to bve a law on this. Prop 13 limits the amount of increase to 2 %. I just got a letter from them after I beg borrowed and so forth XXXX make the payment that they are a debt collector and are attemptintg to coillect a debt and that the credit bureau will be contacted. I aske them who owns the loan on my mortgage now and if it was XXXX still because I want to see my documents in case Im missing any. I thought ShellPoint bought the loan. They sent me a letter stating that XXXX  XXXX XXXX now owns my loan. Well, I do a lot of banking with XXXX. I call my people and give them the new loan number and they siad right away that they do not buy loans. They usually are the ones selling the loans. The loan number I was given and gave to them is not a good loan number. So now I dont even know who to talk to. Im trying to get loan assistance and they flat turned me dow. They said the issue Im having is not with the lender its with the taxes. I get that, but it seems like forom the get go that they WANT to forclose on this property. Come on Over {$9400.00} a month payment for a house built in XXXX and is XXXX square foot.So my complaint is with Shell Point and XXXX. XXXX for not doing their job properly and now I may lose my home right before retirement because I cant afford the payment. I also am formally complaining about not receiving any statement with my 2 % interest on it. Thes banks think all we do is monitor their website and look for paperwork. We dont. They need to email better. My complaint with ShellPoint is their facts are wrong and XXXX XXXX is not my mortgage bank and I want to know who is and why are they hiding them? My second complaint on them is they are misinforming the customer so I want to file and error on them. They said they can not help me because the issue is with taxes. Yes they can. Remove me from having an impounds account. Let me pay my taxes and insurance.That at least gives me until XXXX to make the first payment. And lastly they are liars or criminal because I happen to own anothe home and its with XXXX XXXXl and Im doing a Forebearance with them due to my divorce. The forebearance requires I make some type of payment each month. XXXX reccommends {$100.00} per month for however long of term I need and I can renew it if the term ends and Im not ready. I just have to pay everything current when the term ends. For Shell point to tell me I can not be helped and that now my credit will be affecteds is wrong and misleading people to possible troubles with their home. That our safe place is our home. So formal complaint to ShellPoint and winner of the worst financial group I deal with Thank you XXXX