Consumer complaint received 2025-03-15 00:00:00
Product: Mortgage — VA 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: TN

Complaint narrative:
On XX/XX/XXXX, and XX/XX/XXXX, my wife spoke with representatives from New Rez regarding our mortgage payment schedule. Both conversations took place on recorded lines and lasted approximately 15 minutes and 20 minutes, respectively. During these calls, New Rez agents explicitly informed my wife that a mortgage payment due on the 1st of a given month could be paid as late as the 1st of the following month without being reported to credit bureaus as a late payment. Specifically, they stated that New Rez does not report payments as late until the 2nd of the following month. 

Relying on this information, we made our XX/XX/XXXX, mortgage payment on XX/XX/XXXX, XXXXwithin the timeframe that their agents confirmed would not result in negative credit reporting. However, we later discovered that New Rez reported our payment as 30+ days late to the credit bureaus, which caused our credit scores to drop by approximately 60 points each.

Upon noticing the negative impact on our credit scores, we immediately contacted New Rez to dispute the inaccurate reporting. During this conversation, they acknowledged that an investigation could be initiated but required us to submit a written request via fax or mail. We have complied with this request and are currently awaiting their response. 

New Rez has confirmed that they will review the call recordings as part of their investigation, but they have not guaranteed that they will reverse the negative reporting even if they find that their agents provided incorrect information. This is deeply concerning, as their misrepresentation directly influenced our financial decisions and resulted in serious harm to our creditworthiness. 

Furthermore, this situation appears predatory and possibly discriminatory. My wife, who handled these calls, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX. There is concern that she may have been provided misleading information in an intentional effort to damage our credit standing, potentially preventing us from refinancing with another lender. Whether the misinformation was a result of XXXX XXXX XXXX systemic negligence, the result has been financially devastating to us as consumers. 

We are requesting that the Consumer Financial Protection Bureau ( CFPB ) investigate New Rezs actions and require them to : Correct the inaccurate late payment reporting and restore our credit scores. 
Implement safeguards to ensure borrowers receive accurate payment guidance from customer service representatives. 
Provide transparency regarding their investigation process and criteria for reversing wrongful credit reporting. 
Determine whether there is any pattern of discriminatory practices in the companys interactions with borrowers. 
We appreciate the CFPBs assistance in ensuring fair and lawful treatment of consumers.

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