Consumer complaint received 2020-03-07
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Shellpoint Partners, LLC (NJ)

Subject : Discrepancies to Escrow Account Statements and Monthly Payment Statement. 

On XXXX XX/XX/XXXX, a telephone conversation with Shellpoint Servicing Customer Service agent, was conducted, pertaining to the incorrect Hazard Insurance Premium rate and monthly escrow payments to Shellpoint Mortgage Servicing Annual Escrow Account Statement ( Re-Analysis ) dated XXXX XX/XX/XXXX. 
The escrow account statement dated XXXX XXXX show the Annual Hazard Insurance Premium rate at {$1400.00} and monthly escrow payment at {$120.00}. After reviewing the escrow account statement. The homeowner contacted the insurance company ( XXXX ) and informed the insurance that the annual hazard insurance premium was very high, which XXXX XXXX made an adjustment to lower the homeowners hazard insurance premium to {$1200.00}. The new premium rate was immediately forwarded to Shellpoint Mortgage Servicing via email on XXXX XX/XX/XXXX. 
On XXXX XX/XX/XXXX, a follow-up telephone conversation with a customer service agent for Shellpoint Mortgage was made and a discussion pertaining to the incorrect amounts on the Annual Escrow Account Statement dated XXXX XX/XX/XXXX are incorrect and request for corrections to escrow account statement. The customer service agent was informed by the homeowner that the hazard insurance premium should be {$1200.00} and the monthly escrow payment should be {$100.00}. The customer service agent stated to the homeowner that a statement/comments will be added to the account and a customer service complaint was submitted and forwarded by the customer service agent to the escrow department and billing department to make the new amount charges immediately. 
On XXXX XX/XX/XXXX, another follow-up telephone conversation with a customer service agent for Shellpoint Mortgage was made and a discussion pertaining to the errors on the Annual Escrow Account Statement dated XXXX XX/XX/XXXX. The customer service agent stated that the Hazard Insurance Premium rate at {$1400.00} and monthly escrow payment at {$120.00} and a shortage payment of {$240.00} is due on XXXX XX/XX/XXXX. The homeowner response to the customer service agent that the information is incorrect and should be hazard insurance premium should be {$1200.00} and the monthly escrow payment should be {$100.00}. 
On XXXX XX/XX/XXXX, a Letter of Complaint was forwarded to Shellpoint Mortgage Servicing pertaining to the incorrect escrow statement dated XXXX XX/XX/XXXX and other issued with homeowners mortgage account which Shellpoint Mortgage servicing did not resolved from the first Consumer Financial Protection Bureau ( CFPB # : XXXX ). The letter dated XXXX XX/XX/XXXX reads as follows : This letter is in response to the Consumer Financial Protection Bureau complaint and Shellpoint Mortgage Servicing Letter dated XXXX XX/XX/XXXX. 
I am writing because : A review of the Annual Escrow Account Disclosure Statement dated XXXX XX/XX/XXXX still shows the following errors : Error-1 : The month of XX/XX/XXXX, additional amount of {$16.00} was not added to the escrow account. The amount in questions was place as Unapplied Partial Payment. This was to be added to the escrow account as instructed per the payment stub for XX/XX/XXXX. 
Error-2 : Escrow Statement still shows XXXX tax payment of {$1.00} still on escrow statement. As per Shellpoint Mortgage letter dated XXXX XX/XX/XXXX, confirmed the correct amount should reflected {$0.00}. 
Error-3 : The XXXX hazard insurance premium shows amount of {$1400.00} was incorrect. As of XXXX XX/XX/XXXX, the new XXXX Hazard Insurance premium is {$1200.00}. A correction notice from XXXX dated XXXX XX/XX/XXXX was forwarded to Shellpoint Mortgage Servicing via email. The escrow statement as of XXXX XX/XX/XXXX is now incorrect. 
On XXXX XX/XX/XXXX, another follow-up telephone conversation with a customer service agent for Shellpoint Mortgage was made and a discussion pertaining to the errors on the Annual Escrow Account Statement dated XXXX XX/XX/XXXX. The customer service agent stated that the Hazard Insurance Premium rate at {$1400.00} and monthly escrow payment at {$120.00} and a shortage payment of {$240.00} is due on 1 XX/XX/XXXX. The homeowner response to the customer service agent that the information is incorrect and should be hazard insurance premium should be {$1200.00} and the monthly escrow payment should be {$100.00}. 
The homeowner also questioned why the payment history data shows that Hazard Insurance to read as : {$1200.00} and why the mortgage payment XX/XX/XXXX is still XXXX and escrow account still show {$120.00} and why the homeowner still must pay {$240.00} shortage payment for the escrow account. The home owner reply to the customer service agent that Shellpoint Mortgage use still using the wrong hazard insurance premium of {$1400.00}, which the escrow account is still wrong. The correct hazard insurance premium is {$1200.00}, which Shellpoint Mortgage has posted to the homeowners payment history information. The homeowner requested that Shellpoint Mortgage need to make the correction the homeowners mortgage account and the new total payment for XX/XX/XXXX should reads as : ( a ) Hazard Insurance to read as : {$1200.00} ( b ) New monthly escrow payment should be : {$100.00} ( c ) Borough tax should be : {$0.00} for all tax quarterly payment periods. 
( d ) Monthly payment for XXXX XX/XX/XXXX in the amount of {$1700.00}, which includes ( Principal, Interest and Escrow ).

( e ) Never received a corrected copy of the Annual Escrow Account Statement dtd XX/XX/XXXX. 
The list of documents is attached this letter of complaint are : a ) Shellpoint Mortgage Servicing Letter dtd XX/XX/XXXX b ) Shellpoint Mortgage Servicing Annual Escrow Account Statement dtd XX/XX/XXXX c ) XXXX Homeowners Hazard Insurance Premium Notice XX/XX/XXXX d ) Copy of XXXX Mortgage Statement dtd XX/XX/XXXX In closing, this customer is very disappointed will Shellpoint Mortgage Servicing, how this company handles complaints and concerns when it comes to a customers account. The homeowner is also very disappointed with the customer service telephone system. On XXXX XX/XX/XXXX, the homeowner had to make three ( 3 ) telephone calls and had a waiting/hold time of 30 to 40 minutes on each call to their XXXX. This is a very poor way how this mortgage servicing company answer their telephone and service their customers. 
This is the homeowners 3rd complaint pertaining to the escrow statement, which is still wrong and having issue the total monthly mortgage amount. Shellpoint Mortgage Servicing needs to do the right thing my correcting the homeowners account ( s ) to show the correct information as stated in this complaint.