Consumer complaint received 2021-10-21
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Shellpoint Partners, LLC (CA)

In XX/XX/XXXX Newrez took over my loan after a refinance. When the loan was sent to them, there was some mix up on them getting the insurance ( not sure if that is their or insurances fault or old loan agent fault ). I had current flood insurance ( flood policy XX/XX/XXXX-XX/XX/XXXX ) and hazard ( policy XX/XX/XXXX-XX/XX/XXXX ) paid to date by old lender. In XX/XX/XXXX, I received a letter from Newrez that they were only missing my flood insurance information, therefore on XX/XX/XXXX I followed their instructions and uploaded my insurance information ( I attached confirmation email from website that I uploaded it ). 
Fast forward to recently when I was trying to refinance my loan and my loan agent found an issue with my escrow account. Apparently Newrez created not only lender based flood insurance backdating to XX/XX/XXXX in XX/XX/XXXX, but also created and paid lender based hazard insurance of which I never received notification that they were missing hazard insurance and they admitted this letter was never sent. I contacted Newrez on several occasions to get this resolved. I contacted my flood insurance and found out it had been cancelled due to lack of payment and they said it was illegal to back date the policy so it would start on XX/XX/XXXX for {$570.00} and i would have to pay. 
After back and forth fighting Newrez they refunded the lender created hazard insurance amount. They also refunded the flood insurance for the dates I showed proof of coverage. The problem is that from XXXX the lender based flood insurance was 4 times more than my flood insurance contract. I am asking them to refund me a portion of this excessive above market cost for the lender based portion of {$1200.00}. I submitted an email with complaint and all backup on XX/XX/XXXX ( email attached ) and the response I received on XX/XX/XXXX did not really address the concern. 
I talked to XXXX at Newrez on XX/XX/XXXX about the issue. In the discussion and review of everything, XXXX said that they didn't get my documents I submitted on XX/XX/XXXX, until mid XXXX and they never contacted my insurance company because the year on the insurance policy was old ( but it was my current insurance ). She said instead they sent me another notice saying the same thing that they never received any insurance information of which I do not recall receiving and if I did, I would have thought to myself, I already did this. So I asked to speak to a manager.

I spoke to a manager on XX/XX/XXXX and he said something totally different. He stated that they did contact my flood insurance and they never got back to them. They will not take any blame and will not refund anything. He also said that they were aware a long time ago of my hazard insurance, but that is interesting as they didn't refund that double coverage lender insurance until I complained these last couple of months. 
The problem is there are so much inconsistencies on Newrez 's part to solve this issue and in what they were saying first saying they didnt call my flood insurance company and than next saying they did and my insurance never replied. They feel there was nothing wrong with the fact that they back dated my flood insurance policy, even though that is illegal, and feel there was no problem that they are now reimbursing me the hazard insurance now that I have complained. I have owned 2 properties and several loans and never have I had this issue with a lender. The market cost was so much out of pocket for a customer to cover.