Consumer complaint received 2019-06-04
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Shellpoint Partners, LLC (NV)

I initiated a jumbo loan with XXXX XXXX for {$630000.00} in XX/XX/XXXX. My first payment was due on XX/XX/XXXX, with a payment amount of {$3700.00}, of which {$520.00} was allocated towards escrow. I made the XXXX payment on XXXX and included {$300.00} extra towards principle. I made the XXXX payment on XXXX and included {$200.00} extra towards principle. And I made the XXXX payment on XXXX and included {$200.00} extra towards principle. 

On XX/XX/XXXX, I received via US Mail a letter from XXXX XXXX XXXX XXXX dated XX/XX/XXXX that indicated XXXX had purchased my loan from XXXX and that future servicing would be handled by Shellpoint Mortgage Servicing. I was confused by this notification, as XXXX had not provided me any notification of my mortgage servicing transfer. I know that XXXX will dispute this and claim that they did send me notification. Once they do so, I will provide the mortgage statement I received from XXXX after making my XXXX payment indicating that my next payment was due to XXXX on XX/XX/XXXX. 

I was confused when I received this letter from XXXX and immediately reached out to them. I left three message on XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. I called Shellpoint Mortgage Servicing on XX/XX/XXXX and spoke to XXXX XXXX - she indicated XXXX had no record of my mortgage and could not find it by my property address, loan number or last four of my SSN. I continued to leave messages at XXXX looking for answers. I also called XXXX to find out who was servicing my loan and where I needed to make the XXXX payment. I ended up speaking with XXXX XXXX at XXXX and XXXX XXXX at XXXX and they agreed to resolve the issue so that my XXXX payment situation was clarified. 

As we moved into XXXX, no information was being provided to me by XXXX, XXXX or Shellpoint. But then, after XXXX XXXX, Shellpoint began contacting me via phone about my payment. 

On XXXX XXXX, I made the XXXX payment to Shellpoint. Just like I had done the XXXX previous months, I included an extra principle within the payment. However, once I was able to log on to the Shellpoint website, I discovered that Shellpoint/XXXX  had not properly credited me for the extra principle payments and my escrow payments upon transfer to Shellpoint. Per the XXXX Shellpoint statement, Shellpoint provided the extra principle payments XXXX provided to them back to XXXX, the holder of the loan. 

Shellpoint is in their first month of servicing my mortgage and has already demonstrated a high degree of incompetency. I called Shellpoint on XX/XX/XXXX and registered a formal complaint with management about their failure to properly credit my extra principle and escrow for this account. I was told I would receive a call within 24 - 48 hours. That time elapsed and Shellpoint failed to call me and provide an update. I called in to stimulate some activity on XXXX and they again advised that I would be contacted within 24 - 48 hours. That is unacceptable. This company needs to be held accountable for their behavior and the servicing of these loans.