Consumer complaint received 2025-08-13 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — An existing modification, forbearance plan, short sale, or other loss mitigation relief
Company: Shellpoint Partners, LLC
State: CA

Complaint narrative:
I am asking for your assistance. I have been desperately trying to work with Shellpoint Mortgage 's loss mitigation department and getting nowhere. This loan was for a 2nd mortgage. I have been uninformed or misinformed about my modification request. This all began in XX/XX/year>. I spoke to XXXX XXXX on extension XXXX. We were giving options to save our loan. We choose to get a modification. With that, I was quoted and told that based on my husbands income, our payment amount would be lower from {$540.00} to {$290.00}. We were also told that the interest rate would be lower from 10 % to 8 %. I provided Shell Point with requested documents and check the status of the modification each week by phone or email. I was always told the documents were received and a member of the loss mitigation team would call me in 24 to 48 hours. We never got a call. In the meantime, after XXXX  years of marriage, on XX/XX/year>, my husband passed away. I am devastated and still going through a tough grieving process. On XX/XX/year>, I let your company know Shell Point my husband passed away and I no longer had his income. But I now have income. My income documents were provided to Shell Point. Somewhere, along the line, the company did not read my emails and dropped the ball. On XX/XX/year>, I reviewed their website and discovered that a modification was done in the amount of {$610.00}. I sent an email to loss mitigation disputing the modification and letting Shell Point loss mitigation department know that based on my income alone, I could not afford that payment amount. I request that the modification be reviewed again. I have continued to contact their office weekly. On XX/XX/year>, I began to get letters from Shell Point that the owner of my loan is XXXX XXXX XXXX XXXX XXXX. I have sent a letter to that office for assistance on XX/XX/year>. On XX/XX/year>, I spoke to XXXX on extension XXXX. I ask for information for the owner of the loan such as a telephone number or email address. I was told your company had no way to reach out to XXXXXXXX XXXX XXXX XXXXXXXX XXXX. Also that loss mitigation does not make outgoing calls. Well, how do they communication to borrowers? My conversation with this representative only gets worse. The information I was provided is horrible. I was told that there was a balloon payment of {$36000.00} plus a deferred payment of {$18000.00} for a total of {$55000.00} with a maturity date of XXXX My past due is not {$18000.00}. In addition, that payment would be due in one lump sum and that this how the modification payment of {$610.00} came about. Who is doing these calculations? Those figures do not add up. I also was told that because I did not make the modified payment of {$610.00} on XXXX and XXXXXXXX XXXX the modification payment amount has now increased to {$640.00}. Is this how a modification is done? No, it is not. This sounds unlawful and unethical lending practice and mind you I received no paperwork from their office. This information is contrary to the information I received on XX/XX/year>. XXXX also told me that the quote of {$290.00} was a preapproval and the first payment was due XX/XX/year>. I have never heard of a modification done in a few days. Once again, I got no paperwork or notification of this. I also asked this representative if I was in foreclosure. She told me yes, as of XX/XX/year>. I clearly know that once a borrower is in the process of requesting a modification, the foreclosure process stops. The lender would then have to start the process over again. Their loss mitigation team members clearly does not understand the modification process and needs training. 

I am reaching out to you to ask that you please help me resolve this issue. My intention is to keep the house. 

Please note, my first mortgage collaborated with me and completed a modification. 

I will await your response. 

Thank You

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