Consumer complaint received 2020-12-05
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Shellpoint Partners, LLC (NY)

Greetings, I am filing this complaint against New Rez mortgage company , the current lender of a primary mortgage for a home owned by my XXXX XXXX XXXX mother and myself. After the monthly payment increased more than {$300.00} per month due to an escrow discrepancy, it became unaffordable for my mother to pay on her own as she is the primary borrower and resident of the home. Together we filed an application for a refinance on XX/XX/2020 with XXXX XXXX of New Rez and were approved for a {$50000.00} loan on XXXX XXXX. During this time we have had difficulty communicating with the loan processor, XXXX XXXX and her manager, XXXX XXXX to understand why our loan has not closed and what needs to be done. There have been unexplained delays, requests for information that have already been provided, and complete disregard of my request to speak with a higher level manager to move my loan through the process. I am being ignored despite desperate attempts to get my loan closed. I am attaching a timeline of activity with copies of emails that transpired over the past few months. In addition to the verified emails, I made several phone calls, left multiple voicemail messages, and never once was able to speak with the loan processor that I recall. I felt that my loan was being mismanaged and due to the negligence of New Rez, my mother and I are being harmed as a result of unreasonable delays. We have continued to pay an unaffordable higher monthly payment while these delays continue and face losing the interest rate that was presented to us. The rate lock has already expired once and the time frame for another expiration is drawing near. We are concerned that the avoidance of our loan closing may be intentional to collect a higher interest rate. We are concerned that our file is being mishandled and our consumer protections are being violated under Regulation Z. At one point I called the general number for help and inquired if I could file a formal complaint. After not getting any direction, being placed on hold for lengthy periods, bounced around from place to place, etc., I called again and asked to speak with someone of authority who can help me. The representative provided me the name and number of XXXX XXXX who is XXXX XXXX XXXX boss. I called and left at least ( 7 ) seven voicemail messages for XXXX on various occasions over the course of a number of weeks expressing detailed concerns about my loan. XXXX, who I presume to be the next authority, never offered acknowledgment of my messages nor a return phone call - not even the common courtesy of an acknowledgment. To be honest, I am unsure if XXXX is even a manager. If she wasn't the correct person, the least she could have done was call me back.There is obviously incompetence and a lack of supervision happening, and at this point no one is willing or able to escalate this matter. This has been very stressful and the worst experience I've ever had with a professional service organization. So much so, that I've had to reach out to a regulatory authority to try to initiate action. We have no other means and can't afford the time commitment of going to a different lender. We don't know who else to contact. We have tried very hard to provide the necessary information that was asked of us, and made exhaustive efforts to contact someone who will speak to us but have failed in every attempt to resolve this matter. All I want is to close this loan to help my sick and aging mother from financial debt that has resulted from her loan payments being raised to an unaffordable level. In over 20 years of owning this home, the payments have never been this high. I'd like to ask, is this a case of elderly abuse, or discrimination, or consumer protection violation of Regulation Z? Any assistance that you can provide would be greatly appreciated. Please let me know if you'd like additional information. Thank you in advance.