Consumer complaint received 2024-08-14 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: Shellpoint Partners, LLC
State: NC

Complaint narrative:
Specialize Loan Service ( SLS ) and Shell Point , Inc. broke the law of the Federal Trade Commission and the Consumer Finance Protection Bureau when they voluntarily reported me missing a mortgage payment to the credit bureaus for a shortage in Escrow with my XX/XX/XXXX on time payment. I had an escrow increase that made my monthly mortgage higher. According to governing laws of loan and servicing companies, that is breaking the law. And, SLS/Shellpoint had their employees trained to report escrow shortages as missed payments when I called customer service. Until I filed a complaint with the CFPB, SLS/Shellpoint would not correct my credit with the credit bureaus.

SLS/Shellpomt have a plethora of past lawsuits that theyve had to settle with customers along with a long history of enforcement settlements and penalties with CFPB. Certainly many other SLS customers have probably been wrongly reported to credit bureaus during escrow increases. SLSs employees are wrongly trained to report deficient escrow payments as missed payments to credit bureaus. All customers wronged by SLS/Shellpoint should get notified of their legal right to retribution of SLSs wrongful and abusive business practices. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX  I XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX in XXXX. I worked hard and earned large sums of money. 

In XXXX, I was smart with my money and invested my lifes earnings in securities and real estate. But banks and loan institutions took advantage of innocent and hard working people like me and caused the mortgage crises that lead the world into a Great Recession. Banks wrongful and abusive practices, just like SLS/Shellpoint, caused me to lose all my money and investments. I needed my money very badly due to my career abruptly ending on XX/XX/XXXX from a XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX. But banks didnt care and made me settle up for hundreds of thousands of dollars that took me broke. 

Now, XXXX years later after working hard and recovering, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I was on track to make {$200.00} XXXX XXXX XXXX XXXX XXXX. At the beginning of XXXX, I paid cash for a house with plans of pulling my money out to keep investing. But when I tried to obtain a loan, I was denied due to SLS/Shellpoint wrongly reporting a missed payment on my credit. As of to date, I am stuck with an unfinished house with outstanding contractor invoices that I dont have the money to pay. I have done nothing other than pay my mortgage on time. Now, I suffer financial loss with pain and suffering again by banks and loan institutions. Im so glad XXXX XXXX XXXX XXXX won a {$25.00} XXXX settlement against banks for breaking the law. 

As a result of the wrongful and abusive business practice of SLS/Shellpoint, I and my family have suffered present financial and future loss and inherited tremendous pain and suffering from the wrongful and abusive business practices of SLS/Shellpoint to include the following : - Pain and suffering - loss of time value of life, financial gain, happiness, health, and opportunity cant be measured. So many opportunities unseen due to SLS/Shellpoints wrongful business practices. 

- Pain and Suffering- Stress alienated affection in our marriage and affected us in very discrete ways.

- Pain and Suffering - wife and I had to have counseling services to deal with the stress on our marriage- Planned to renovate residence home for sale to allow wife to come out of work from being a stressful lawyer. SLS/Shellpoint halted my plans and now weve missed the hottest sale period of the year. 

- ruined my reputation and business relationships that took decades to establish. 

- caused me and my family embarrassment. 

- felt to be marginalized by SLS/Shellpoints rejection of my request for retribution of their breaking the law.

Company response to consumer: Closed with explanation