Consumer complaint received 02/25/2016 about Mortgage (Conventional fixed mortgage) with Shellpoint Partners, LLC (FL).
Issue: Credit decision / Underwriting

Complaint: Dear Sirs/Madams, I would like to file a formal complaint against Shell Point Mortgage Servicing. My name is XXXX XXXX XXXX. My loan number with Shell Point Mortgage Servicing is XXXX. I reside at XXXX XXXX XXXX XXXX XXXX FL XXXX. 

I have been working diligently with Shell Point Mortgage Servicing company to get a modification approved for well over one year now. After providing Shell Point Mortgage Servicing company with their required and requested paperwork over and over again, continuously updating information which was previously sent and following up with updates I was approved for a HAMP tier 1 mortgage modification on XXXX XXXX, XXXX the evening before we were scheduled to go to mediation ( pleae see a copy of the trial modification approval attached ). 

However, the modification was well outside HAMP modification requirements or calculations ( i.e. XXXX % of the gross household income ). 

Specifically our gross total household income listed on the RMA is {$5600.00} per month. Utilizing HAMP requirements that would represent a maximum mortgage payment of approximately {$1700.00} per month. Our trial modification approval is well above the XXXX % HAMP rule. The modification was approved for a monthly payment of {$2600.00} which is roughly 48 % of our gross total house income. 

I mentioned this discrepancy during mediation and again several times to our mortgage servicing representative. During my discussions with Shell Point Mortgage Servicing I discovered that they had applied the same earnings multiple times and had in fact doubled our gross household income. In my initial discussions with the individual assigned to my mortgage on XXXX XXXX, XXXX, XXXX XXXX, she admitted that there appeared to be an error made on their part. However, in subsequent discussions they refused to take that into consideration and stated simply that the approval is correct based on the numbers they used. 
I am attaching a copy of the RMA provided to Shell Point Mortgage Servicing which stated that my total household income is {$5600.00}. I would further like to state that I included my wife 's income upfront as I had all along as she is part of the total household income. The RMA paperwork stated that I was including my wife. It included her Social Security number, her pay stubs and her signatures and listed her as Co -borrower all along. 
Please note that after I was informed by the mortgage servicing company and the mortgage holder XXXX that all required documents have been received with the exception of my XXXX and XXXX XXXX XXXX information I was subsequently told to have my wife sign a " Non-Borrower Contributor Form '' indicating that she would be contributing her earnings towards the mortgage. I question the need for the form as her earnings had already been included in the total gross household income. I was told she needed to sign the form because she was not on the mortgage. I was not told they would be counting her income again, thus inflating the total gross household income. It is further worth noting that they required I provide proof of my earnings to myself from my business via bank statements which I did and which they 've been included again essentially doubling our total household income. 

It is clear if you look at the RMA I filled out and compare it to our XXXX personal tax returns that the " Total Gross Household Income '' is in fact XXXX as stated on the RMA. Please see an attached copy of our XXXX personal tax returns and a copy of the RMA to support this information. 

I would greatly appreciate your support in righting this wrong. 


Respectfully, XXXX XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation