Consumer complaint received 2019-12-11 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Shellpoint Partners, LLC
State: CO

Complaint narrative:
Today 's date is XX/XX/2019. 

ISSUE - NEWREZ and acquired XXXX 's mortgage loan servicing business. 

NEWREZ says, and I quote Welcome, XXXX Homeowners! 
The servicing of your mortgage loan will soon transfer to NewRez. We look forward to working with you and were dedicated to providing you with exceptional service. We understand that a servicing transfer can lead to a lot of questions. 

To help you through the transfer process, here are several key dates and some answers to common questions : Dates Events XX/XX/2019 The servicing of your mortgage ( collecting your payments, paying your property taxes and homeowners insurance bills, etc. ) transfers from XXXX to NewRez. We can start accepting your payments, but we wont be able to process them for at least 7 days. You will still be credited for the day you make your payment. 

XX/XX/XXXX XXXX Well be loading your mortgage information into our computer systems and testing the data for accuracy and completeness. NOTE : During this time, well be able to access only a limited amount of information about your loan. 

XX/XX/XXXX Your loan will be fully active on our systems, and well be able to process your payments. Weve also created a set of helpful online tools that can make managing your mortgage simple and easyall you need to do is set up ( register ) your online account. 

SO - on XXXX the loan was supposed to be " fully active on our systems ''. 

Three days later NEWREZ has no record of my loan - it isn't active in their systems. NEWREZ lied when they claimed it would be on XXXX. 

On or about XXXX, XXXX I called NEWREZ only to be informed, by their agent, that, wait for it ... 

" THE LOAN IS NOT ACTIVE '' The consequence of which he stated that NO INFORMATION is available and NEWREZ can not process a payment The agent changed the web story above to says that it takes, " about 10 business days ''. 

Not what is on their web splash page Well that's not what NEWREZ 's website has published and what customers are counting on AND IN THE MEANTIME XXXX HAS RETURNED MY XXXX MORTGAGE PAYMENT, TRANSMITTED VIA XXXX ACH ON MY BEHALF. 

So I SMELL AT RAT NEWREZ has already started down the road to late fees, charges and derogatory credit information. 

All NEWREZ seems interested in is initiating a new loan to refi my existing loan.

And guess what? I called NEWREZ and they said they had a better new loan than my 4.25 % loan with 13 years remaining. Fees? Oh they said the fees would be made up with my savings on the new loan. Can you belief this pile of horse feathers? 

What a scam! 

FINALLY XXXX is the poster child of poor customer service and has numerous anti-consumer consent agreements which bolster this position. They are the other side of this transaction and may well be complicit in this problem. 

None the less it is NEWREZ who is the bad actor in this case.

Company public response: Company believes the complaint is the result of a misunderstanding
Company response to consumer: Closed with explanation