Consumer complaint received 2023-03-16
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Shellpoint Partners, LLC (OH)

My home loan was sold to Shellpoint Mortgage in XX/XX/2023. I received a welcome packet mid XXXX informing me my first payment had been due on XX/XX/XXXX. I was already upset that the payment was past due. I immediately called and was told by a customer service representative that due to the transfer there was a grace period. I explained to her that I wanted it to be set up on a biweekly payment plan like I had been previously with my other company. She said that would not be a problem and that I would have to pay a one time full payment online first. I paid a full month payment at that time. I then did not have any option to set up a biweekly payment. I called a second time and spoke to another customer service representative that told me she would send me the information to get that set up. I found the entire process very difficult as I had to download a particular app to be able to access the file. Upon accessing the file, I found a paper application to another company called New Rez. I thought I had been given the wrong information and contacted ShellPoint for a third time. I found out that this was in fact the same company and I filled out the paperwork under the impression that I could get this payment plan started right away. There was no fax number or email and I had been given no additional information on how to send this application in. So, I called yet again and was told that I could only start the biweekly plan by mail. I sent the application in and apparently had to wait for them to receive the paperwork and start the process. 

In XXXX I had two biweekly payments taken out of my bank account in the correct amount. I thought I had everything squared away. My first biweekly payment in XXXX I got notice ahead of time and the amount had significantly increased. The increase would accumulate to {$600.00} a month. I immediately called a customer service representative and said this is not correct and significantly more than my mortgage payment should be. After some time she came to the conclusion that a recent escrow analysis had been done incorrectly and Shellpoint was charging me to pay my homeowners insurance to a company that I do not even use! I pay my own homeowners insurance monthly to XXXX XXXX. Shellpoint had in their records that they were going to be paying XXXX and taking a total of {$3000.00} extra dollars from me over the year. The customer service representative told me that she would be sending in a request for a new escrow analysis and it would take three weeks. She herself recommended that in the meantime she would suspend my payment schedule since it was incorrect. She told me that I would be able to call in and make the correct payment over the phone. 

The following week I received a phone call saying that my payment was past due that I would be assessed a late fee as of today for {$56.00} and if I did not pay by the end of the month I would be turned in to the credit bureau. I explained to the man that I had just spoken to someone on Friday and could he not review the notes? I told him that I would be more than willing to pay the correct amount but, I would not overpay for insurance that I dont need. He would not except the correct amount and kept reiterating that I would be issued a late fee come today. I have had three months of consistent problems and close to 10 phone calls with this company showing no resolution in sight. I am at a loss because I am not going to pay hundreds of dollars more than I owe but, I also do not want to be delinquent in my loan and have this affect my credit score. I am not sure what else I can do at this point and I continually get the runaround with every phone call I make to Shellpoint. 

It is insane to me that an error on their part regarding my insurance is going to cost me late charges and credit problems when I am more than willing to pay my mortgage. They refuse to accept the correct amount after acknowledging to me less than a week ago that this was their own companys error. It is unacceptable.