Consumer complaint received 2024-03-29 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: Shellpoint Partners, LLC
State: CA

Complaint narrative:
XX/XX/XXXX : Online form to : XXXX XXXX dept. 
acct : XXXX XXXX XXXX After being laid-off for over 2 months, on XX/XX/XXXX, I submitted a request for forbearance due to my job loss. On XX/XX/XXXX, I was approved for forbearance from XXXX XXXX XXXX. 
Please note that the approval letter was on XX/XX/XXXX, and make the forbearance retro active to XXXX, this is the proper way of assisting the troubled mortgagee. But XXXX  did not perform or offer this service when I continued my request for extension in XX/XX/XXXX On XX/XX/XXXX I requested for another Forbearance and was approved on XX/XX/XXXX, for XXXX XXXX XXXX. 
Each time the general representatives in the Loss mitigation threatened of potential negative credit report by applying for forbearance. This is clear intention of discouraging customer from using this option, eventhough it has been fully approved by the XXXX XXXX  Obviously, I still have financial difficulty... it does not make sense to have a gap in forbearance and report negative late payment in XX/XX/XXXX ( as 120 days late. ) The correct forbearance period should start from XXXX to XX/XX/XXXX, and I can resume my payment on XXXX, so we have 6 months of continuous forbearance to meet XXXX maximum forbearance period requirement. 

This is extremely unfair practice clearly planned to discourage borrower to request forbearance on their loans. I strongly urge the CFPB to conduct further investigation into XXXX  wide practice of discouraging forbearance and severely punished the customer, when any of them slipped part of the process like I did. This can be a potential class action lawsuit since many individual customers credit report XXXX have been damaged due to this unprofessional and unfair practice. 

Date/Activities in Chronological order. 

XX/XX/XXXX : XXXX contacted me about renewing or extending my forbearance. 
XX/XX/XXXX : I sent to a request to extend my forbearance XX/XX/XXXX : XXXX replied by e-mail refused to process, stating, they can not process the next extension unless it was within 30 days of the expiration of the current forbearance. They suggested to reach back to them after XX/XX/XXXX. This is another XXXX tape process that XXXX  setup to delay or discourage borrower ( me ) to extend forbearance so quickly. 

XXXX : Ive received XXXX interview requests from XXXX different companies for high paying position I did not apply for a forbearance extension at this point and this forbearance expired on XX/XX/XXXX. 
I want to get out from the forbearance plan and resume the payment to avoid major increase in my monthly mortgage ( all past due amount will be added on to my normal mortgage payment. ) XXXX XXXX XX/XX/XXXX : after waiting for any confirmation from the 3 interviews, I was NOT able to secure any job.. XXXX. job market continue to report major lay-offs from major XXXX companies. 

XX/XX/XXXX : Without any job nor income prospect, I immediately re-applied for forbearance extension with XXXX XXXX XXXX XXXXt intentionally mailed out their letter slowly, almost a week after their date on the letter. See attached example.. While this is not directly deal with my forbearance ( since unemployment request did not need any supporting documentations ), you can see XXXX  had employed many unscrupulous tactic to delay or sabotage any financial assistance that theyre obligated to do for their customer as stipulated by XXXX XXXX XXXX 

XX/XX/XXXX : I received the confirmation of forbearance approval, but for XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX. However, it should have been for XXXX - XX/XX/XXXX. XXXX  suddenly claimed that they can only approve forbearance extension for the next month! 
This is an unreasonable and unfair action, my dire financial situation was in XXXX. 
XXXX  did not offer any option or solution for me to resolve, ( how to pay past 4 months of unpaid balance! Without offering me any option to resolve the previous forbearance, they turned around and report to the XXXX credit bureaus that Im 120 days late! 

XX/XX/XXXX : I was not aware of the ( 120 days ) late report until I just reviewed my credit report with XXXX on XX/XX/XXXX.

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