Consumer complaint received 2025-04-28 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Shellpoint Partners, LLC
State: FL

Complaint narrative:
Subject : Request for Audit and Immediate Release of Funds XXXX XXXX XXXX Dear Sir or Madam, I am writing to formally request a review and audit of the mortgage servicing practices of Shellpoint Mortgage Servicing regarding our insurance claim and repair fund disbursement. We have enclosed supporting documentation from XXXX online portal, along with a detailed timeline below. 

While we understand the necessity of a process to ensure that the property is properly repaired a reasonable and prudent requirement XXXX actions have been anything but reasonable. The hurricane date was XX/XX/XXXX and as of the end of XX/XX/XXXX, XXXX  has not released XXXX payment. 

Despite having fully paid for 100 % of the necessary repairs ourselves, Shellpoint has failed to release even the initial advance required to support the work. This remains true even though XXXX own inspector confirmed the repairs were 99 % complete as of XX/XX/XXXX. 

In short, we respectfully request Shellpoint immediately release all insurance funds. Furthermore, we believe their servicing practices should be thoroughly audited. There is no justification for the ongoing and excessive delay in releasing funds. We also believe Shellpoint owes interest on the funds they have improperly withheld particularly the first advance, which has still not been received, and any amounts delayed following the XX/XX/XXXX inspection confirming near-completion. 

Mortgage Company Information : XXXX Mortgage Servicing XXXX XXXX XXXX, XXXX, MI XXXX Phone : ( XXXX ) XXXX ( Monday - Friday, XXXX am - XXXX pm ) Fax : ( XXXX ) XXXX Email : XXXX ________________________________________ Timeline of Events : XX/XX/XXXX : Hurricane Helene floods house ( approx. XXXX ' water throughout the XXXX floor ). 
XX/XX/XXXX : Work with homeowners and flood insurance companies to perform inspections and document damages. 
XX/XX/XXXX : XXXX with XXXX insurance portal, myinsuranceportal.com. 
XX/XX/XXXX : Upload all XXXX reports. 
XX/XX/XXXX : Overnight insurance checks totaling {$210000.00} to Shellpoint. 
XX/XX/XXXX : Adjusters reports approved ; claim check received. 
XX/XX/XXXX : Submit all paid invoices for completed work. 
XX/XX/XXXX : Request inspection. 
XX/XX/XXXX : XXXX conducted ; inspector reports 99 % of repairs completed. 
XX/XX/XXXX : Repeated weekly follow-up calls to Shellpoint inquiring about check releases. 
XX/XX/XXXX : Submit multiple lien waivers ( many of which were unnecessary, as they involved subcontractors and not permit holders ). 
XX/XX/XXXX : Further follow-up call regarding funds. 
XX/XX/XXXX : Again follow-up and notify Shellpoint of our intent to escalate XX/XX/XXXX : XXXX falsely logs a request for inspection in their portal ( original inspection was requested in XXXX ). 
XX/XX/XXXX : Another follow-up call Shellpoint states they will only release the first advance even with the inspector report showing 99 % complete ________________________________________ Given the clear evidence of completed repairs and compliance with Shellpoints requirements, we seek immediate resolution and appropriate review of Shellpoints handling XXXX this matter. 

We also seek a reasonable interest on all monies that were withheld during this time. 

Thank you for your time and attention to this serious concern.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation