Consumer complaint received 2024-08-10 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Shellpoint Partners, LLC
State: PA

Complaint narrative:
Hi - The name of the mortgage company we have financed our home with is New Rez and since the beginning we have had several problems with them. However today I am reaching out to Consumer Financial Protection Bureau ( CFPB ) regarding the incorrect property tax paid by New Rez/XXXX XXXX ( New Rez 's supposedly tax department ). It seems mortgage companies are required to collect a monthly amount to be held in escrow so that they can make timely and accurate insurance and tax payments. Unfortunately, these payments have never been made by New Rez on time and the only payment that was done was an erroneous payment. Our home insurance company was going to terminate our insurance because New Rez was not responding to their calls or correspondences, until they reached out to us and we made the payment immediately. Since then we have been trying to close our escrow but when we contacted escrow closure New Rez said we would need to complete a year with New Rez and show that we have paid our taxes before we could close escrow. Therefore, as soon as we received the real estate tax bill, we mailed a check to XXXX XXXX the XXXX XXXX tax collector, for the tax amount indicated on the bill on XX/XX/XXXX. On the same day I sent an email to loanservicing@newrez.com letting them that we have paid our insurance and tax payment that was due and to close our escrow account with New Rez. The next day on XX/XX/XXXX, I called them and informed them the same thing and asked New Rez to stop payment of property tax from escrow. On XX/XX/XXXX I received confirmation from the tax collector that she received our check for the tax payment and was applied to our account. Despite informing New Rez more than once to stop payment, they proceeded to make a duplicate payment of the tax amount from the escrow account. As a result, I have been following up with the tax collector regarding the status of the tax payment received from XXXX XXXX. Tax Collector confirmed that a check numbered XXXX for {$72000.00} was received from XXXX XXXXNew Rez on XX/XX/XXXX, and returned on XX/XX/XXXX via XXXX XXXX ( with tracking number XXXX ). Upon tracking this, it shows that the check returned by the tax collector reached XXXX office on XX/XX/XXXX. However, we have a voice mail from XXXX on XX/XX/XXXX continuing to say that they are waiting on the status of confirmation of return of tax payment from the tax collector. We have been chasing New Rez for over 4 months requesting refund of our funds that NewRezXXXX XXXX wrongly expended. New RezXXXX XXXX have been evading by giving frivolous excuses and delaying our refund. 

Request CFPBs intervention at the earliest to help get our money back and maybe even get us compensation for all the agitation that New Rez has caused us over the past weeks to persuade mortgage companies in taking corrective action to prevent such future occurrences. Please let me know what other information you need from us to take this forward. 

To anyone else reading this a word of caution to please choose your mortgage company wisely if you don't want to run into issues until the mortgage is paid off.

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