Consumer complaint received 2021-09-05
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — 
Company: Shellpoint Partners, LLC (PA)

XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX CFPB XXXX XXXX XXXX XXXX, Iowa XXXX XXXX XXXX, XXXX, XXXX DEAR CFPB I entered the problem on your list as being closing on a mortgage because that topic seemed to best match my issue currently of trying to sell my rental property home, ( which was once my residence ) only to find that I am coming up extremely short on the payoff and what the actual amount of the profit or gain should be according to all of the information which I currently possess on the circumstance. 
I am fervently hoping that you will be able to help me. I never expected to be selling my home which has become a rental property for me as I had to move from XXXX  to XXXX to assist with caring for my very elderly mother. I lived in the home with my companion from XXXX, when we moved to XXXX, XXXX, for my job. Then in XX/XX/XXXX, I lost my job and also had to relocate back to XXXX to aid in my mothers care. I am an only child, and she will be XXXX years old on XX/XX/XXXX. 
I have owned this property since XXXX, and it was purchased at __approximately XXXX XXXX, with interest, and XXXX loan for home improvements in approximately XXXX ) _____________. The internet sites and my realtor, The XXXX XXXX XXXX have valued it at XXXX XXXX. None of the figures are exact, nor the dates because only one servicer responded to my repeated requests for historical and accurate loan information. 
I have had seven mortgage servicers from the loan inception. All these servicers have initiated the refinancing to me. I did not seek them out. They told me that any loan reorganization would pay off in the end of the loan and due to the savings, they were purporting. 
Every single one of them has been involved in Mortgage fraud or a public legal action/s, or/and class actions as well as the current servicer, who has a poor reputation, New Penn/Shellpoint/ New Rez XXXX The mortgage I have is under XXXX XXXX, which is funded by private investors. All these companies were simply trying to save themselves in the mortgage crisis and I do believe now, looking my situation they were involved in Churning. 
I am extremely disappointed and distressed to find that at the end of my mortgage, upon inquiry to sell my home that the payoff amount has been quoted as being __Approximately ____ $ XXXX ________________. This results in me obtaining proceeds of XXXX _____Approximately ___minus relator fees and taxes / capital gains ________.That is a shortfall of XXXX XXXX or more. Additionally, I see that, instead of the 30 year -fixed mortgage which I initially took out, with XXXX XXXX Bank XXXX in XXXX, upon purchase of the home, now has an additional XXXX XXXX years added to it, with a maturity date of XXXX listed on the current loan. It should be ending in XXXX, 12 years from now. My rates have always been fixed at XXXX XXXX %, I believe. Also, in XXXX, I took out a home equity loan of XXXX approximately, which was a low rate as well as I can remember, and was used for upgrades on the home. The New Rez website shows that I paid approximately XXXX K in interest, and only about XXXX K in principal over 18 years. At the interest rates above, and with the property being valued now at XXXX K from the purchase price of XXXX, in XXXX, I should have at least XXXX additional funds upon payout and sale of this property, in my best estimation. It is very hard for me to imagine that I, as a professional and also being XXXX, for a time, would be responsible for helping giant banks and mortgage companies, to my own detriment, and now have my extremely valuable time spent writing all these letters, etc and trying to rectify the situation. 
There was only a one day missed payment in the first 13 years of the loan. In the past 5 years or so, I have had numerous late payments within the 30-day grace period. My credit history lists an excellent payment history with the current servicer. I had several late payments with XXXX XXXX XXXX. The reasons were that I lost my job, have a major issue with a former federal employer which has impacted my ability to work, relative to a XXXX which occurred in XXXX and for which I am on SSDI and federal XXXX. I have been working extremely hard to resolve the issue and return to work, despite many obstacles. The tenants have aided in paying the mortgage, though I have incurred losses on it every year for repairs and tenants breaking the lease, and damaging things. 
I requested that these 7 companies send me complete information about my loan with them. I did this by USPS tracking mail. These are the tracking numbers and the letters to each will be attached, depending upon the space on your site. The approximate dates for these letters were XXXX and their receipt was verified as being on XXXX. I only received a response from XXXX XXXX with the attached documents and from New Rez , saying they were working on it into XXXX. I believe that the XXXX XXXX  letter required an updated address as well as the XXXX XXXXr/ XXXX XXXX address. I have not received any other replies. Even my current loan servicer, which is a very inadequate company, Called New Rez ( formerly XXXX XXXX, Shellpoint ), has failed to provide the information which I requested twice, by verified trackable mail and a phone call made to them on Thursday, XX/XX/XXXX @ XXXX AM. They did send a letter, dated XX/XX/XXXX stating they will be providing the information I requested, asap ; so it is over a month later, and I do not have that information yet.They are legally required to provide me with information on my loan as per my requests. When I only heard from one company regarding the initial letters sent out, I sent follow-up letters on XX/XX/XXXX, which were received on or about XX/XX/XXXX. I have not receive a response to any of those letters. 
Within the past 15 months or so, New Rez has decreased my payment automatically by about {$200.00} per month. I believe that may have had to do with the PMI being removed at a certain point. At XXXX point, about a year and half ago, New Rez, stated that I did not have funds in my XXXX XXXX Account with which to pay my mortgage one month. I did have the funds, I had to make many calls to rectify it, taking up much time and explaining to them that XXXX XXXX and my records would prove the funds were there and they illegally said the funds were not there. I believe it was an employee retaliating against me for telling her that I was not going to continue to explain my current hardship every time I called. They and XXXX XXXX did call and often repeatedly to remind me of payments due prior to the late date for payments, which is the XXXX the of each month. I do believe I had been charged the convenience fees for the phone payments and am probably a part of that class actions against New Rez. 
I worked for the Federal Government when I was living in the National Capital Area and commuted for many years, a distance, through heavy traffic while working very long hours and overtime as a XXXX. I then developed a temporary cognitive impairment in XXXX related to severe XXXX, which is the reason for the XXXX, among other factors such as XXXXXXXX XXXX 
I have been extremely busy the past 6 years. I am now, surprisingly, going to relocate to the XXXX, Texas, and be remarried within the year. This is the reason for selling the rental property. I have tenants in there until their lease expires on XX/XX/XXXX. But I need to sell and settle the sale asap to combine my funds with those of my fianc to obtain a suitable living arrangement in Texas, as he has XXXX young sons, XXXX and XXXX yo. 
I am explaining all of this so that you can understand the context in which I am requesting help. I need all the funds from the home sale to manage my mother, her home, and my move and wedding and possible work reentry eventually. As it is, I paid into the mortgage, approximately $ XXXX per month for 18 years, that essentially amounts to XXXX XXXX which did include XXXX County taxes at about XXXX $ per year, PMI for quite a while, and interest. However, even considering all those factors, I should be gaining more than XXXX, with consideration of the property value rising as it has in that area for the past 6 years and considering that it has been paid for 18 years and was to be a 30-year loan. These companies have profited at my expense, been unscrupulous, taken unfair advantage of me as a consumer, and as a XXXX person as well as using me and countless others to manage their own failures during the mortgage crisis. It appears to be illegal and unethical. 

I am requesting that you assist me in the following ways : 1. ) Require these companies, all of them, in an expedited manner ( excluding XXXX XXXX, who did cooperate ), to submit the entire documentation for the loans to me, including the Note, Deed of Trust, HUD1 Settlement Statement, and account payment history, loan terms, interest rate, initial and ending balances, and closing costs. 

2. ) Assist me in the steps required to make these companies accountable for their crimes against me as a consumer, by rectifying the extensive shortfall in my loan payoff price and all the fraud which took place at my expense ] 3 ). Advise me as to whether I need a CPA or Attorney advice or whether you can help me to settle this matter. It is taking a great deal of my time at a very critical time in my life. It is very unfortunate that consumers must work so hard to protect ourselves from criminals in every business arena imaginable. With all the other complexities of ones own life, it is exhausting. I would like to think that my own money belongs to me, and I do not have to risk it being taken fraudulently. Who would own a home if they would only barely break even after 18 years? As it is with the anticipated shortfall, I may have to reschedule my upcoming remarriage, my relocation plans for moving across country, plans to eventually re engage in my career. It is extremely problematic, in addition to spending all this time writing letters, and locating documents while big companies have money that actually, rightfully, belongs to me. Yet, there is no cooperation, naturally, from any of them, because they want to keep the money which does not belong to them and do not want to be held accountable. All of this is a huge amount of work for me when I have many other pressing matters. 

Thank you so much for you help. The other documents are uploaded, as indicated and I am listing the XXXX mortgage servicers with whom I have dealt over the past 18 years. 

Please let me know if you require additional information. 


List of Mortgage Servicers : XXXX XXXX XXXXe ( briefly ) XXXX XXXX Bank XXXX XXXX Bank XXXX XXXX Bank XXXX XXXX Mortgage XXXX Bank XXXX XXXX XXXX XXXX ( XXXX XXXX ) XXXX XXXX  Shellpoint Mortgage, XXXX XXXX, New Rez ** This is what I recall to the best of my ability. I have moved twice and am not able to locate all the documents, am waiting for the companies to comply with my request. 

Attachments : Mortgage Documents from XXXX XXXX ( with XXXX  XXXX on the paperwork, I believe this the transfer paperwork ) Current Mortgage Documents : New Rez ( limited ; awaiting additional documents Proof of mailing/ tracking numbers for all mail sent to Mortgage services requesting information ( the USPS site verifies their receipt ) and the tracking for the f/u letters I sent when they failed to respond the first time. 
Copies of letters sent to Mortgage companies There are a few gaps in the numbering on the XXXX XXXX XXXX XXXX XXXX XXXX sent by XXXX XXXX XXXX, due to the difficulty in scanning and volume of/disorganization of the documents presented to me. ) Sincerely, XXXX XXXX XXXX XXXX, XXXX, XXXX, XXXX, XXXX XXXX XXXX XXXX XXXX