Consumer complaint received 2017-07-21
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Shellpoint Partners, LLC (NC)

The complete is about XXXX XXXX, who was with XXXX XXXX when the situation started and is now with XXXX XXXX XXXX ( both in North Carolina ). Her current email is XXXX The complaint is that there were either bait and switch tactics, or horrible disclosure of process with incorrect, misleading information. This is in addition to extremely frustrating processes and communication. We had email correspondence on at least the following dates in XX/XX/XXXX : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX This is in addition to various phone conversations and possibly  additional emails that I may not have saved I originally asked if XXXX 's company, XXXX XXXX, would do a refi at 85 % of appraisal, and if they could do the refi without any seasoning restrictions.She said yes, her company could do that. We were communicating back and forth regarding various paperwork requested throughout XX/XX/XXXX. On XX/XX/XXXX, after 3+ weeks, XXXX told me that they can not do what she said they could do. She says everything is fine, but they need to season the loan for 6 months. The two reasons I started working with her company were the non seasoning promise and the 85 % refi off of the appraised value. We had a conversation on XX/XX/XXXX, and I begrudgingly agreed to wait until the middle of XX/XX/XXXX when the subject property would have passed the 6 month seasoning.
After XX/XX/XXXX, I did n't hear anything. On XX/XX/XXXX, I reached back out to XXXX and she told me she had changed companies! She now worked at XXXX XXXX XXXX. I was very disappointed that nobody at either company had notified me of this. I had started working with her, and she again told me they could do the 85 % refi ... and we were closing in on the XX/XX/XXXX date, so I agreed to do the loan with her new company. Over the next couple weeks, paperwork was going back and forth and they sent me the loan docs. I noticed that the loan doc showed not an 85 % refi of appraisal but a 75 %. I contacted XXXX about this and she said she thought I had decided on the 75 % so I could get a lower rate. I said no, I wanted the 85 % ... more time went by, and more paperwork. I received a revised loan doc and it also said 75 %. This was on XX/XX/XXXX. I told XXXX it still said a number that was 75 %. She said she had been unaware that she could n't do an 85 % refi! She said that there was a caveat when refinancing a private loan that she could only do a 75 % refi. I asked her when she learned of that. She said she had learned of it the week before! So, after first sending me a doc at 75 % and saying she thought I wanted that for a lower rate, and then sending me a doc a week after learning that she could n't do 85 %, what else was I supposed to think other than that there is something that just was n't right. I still wanted to see what the numbers would look like. They sent me more documents over the course of XX/XX/XXXX ... asking for much of the same information they 'd asked for before, and then new information ... .wanting me to sign another 45 pages or so. It just  became exceedingly clear that this company was unable to efficiently and effectively handle the business. XXXX XXXX XXXX is my profession. I 've never filed a complaint about a lender before. It takes a lot of things to happen for me to take the time to describe the situation. In the course of this process, when XXXX was with XXXX XXXX XXXX, I had asked to speak with her supervisor. She blocked that request, saying she was the main person. I had asked for her to have someone consider doing the loan I had requested, and she refused. I had asked her for more favorable loan terms given the situation, and she refused. She did offer to waive one nominal fee.