Consumer complaint received 2024-10-07 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Payment process
Company: Shellpoint Partners, LLC
State: CA

Complaint narrative:
In XXXX of XXXX, I requested assistance from Shellpoint Mortgage Servicing with help on my past due payments. Shellpoint Mortgage Servicing referred me to the XXXX XXXX XXXX XXXX XXXX XXXX  ). Upon contacting XXXX XXXX XXXX  they informed me that they could help me with my past due payments. Nevertheless, in XXXX of XXXX, XXXX gave me {$59000.00} in funds and paid my past due payments which included my property taxes an insurance in the amount of {$45000.00}. Also, Shellpoint collected an additional XXXX in escrow and charged {$260.00} in other fees that were not applied to my home loan. 

Nevertheless, I called Shellpoint on XX/XX/XXXX, because my attorney notified me that Shellpoint Mortgage Servicing indicated that my loan is in default. I spoke to XXXX at Shellpoint Mortgage Servicing, and I found out that my money I received for late payments from XXXX XXXX XXXXXXXX was illegally applied to my loan. The {$59000.00} from XXXX XXXX applied to my late payments, interest and insurance. XXXX at Shellpoint Mortgage Servicing actually applied the money that I received from the XXXX as follows : {$45000.00} went to late payments, interest and insurance ; however, {$13000.00} went to an illegally inflated escrow for the year of XXXX. My escrow in XXXX was only {$14000.00} ; however, XXXX added an additional {$9900.00} to my escrow which is illegal. Unfortunately, the {$13.00}, XXXX should have been applied to my late plan payments on bankruptcy XXXX XXXX XXXX XXXX ; but XXXX concealed it and XXXX it saying that my escrow for the year XXXX was {$39000.00}. Also, XXXX collected an additional {$260.00} in fees and she could not tell me where the money was applied to my loan. Shellpoint committed fraud and theft with the funds they received from the XXXX. 

In order to understand why I know that the money from XXXX was not applied to my loan and the money was used for other purposes ; I must do the breakdown of my monthly loan payments. My principal and interest on my loan is only {$2800.00}. Shellpoint informed XXXX that my monthly payments were around {$4100.00} and collected {$45.00}, XXXX in principle, property taxes and home insurance. The principal and interest from XX/XX/XXXX to XX/XX/XXXX which is 11 months XXXX {$2800.00} is only {$31000.00} ; yet Shellpoint collected an additional {$13000.00} of escrow from XXXX because my loan is impounded which totaled {$45000.00}. 
Upon collecting the amount of {$45000.00} of principal, property taxes and home insurance, Shellpoint XXXX collected an additional {$15000.00} from XXXX in escrow fees which was not applied to my loan. After XXXX paid Shellpoint Servicing an overage of XXXX of escrow which was not applied to my home loan, Shellpoint Servicing was dishonest and said that I had an additional shortage of XXXX in my escrow and added it to my loan. Upon doing the calculation of {$13000.00}, XXXX and {$9900.00}, Shellpoint is calculating that my yearly escrow in the year XXXX, is {$39000.00} which is outrages and totally incorrect. 
Unfortunately, I knew that all of the {$59000.00} was not applied to my loan so, I called Shellpoint Servicing several times in XXXX, XXXX and XXXX of XXXX and XXXX, asking for a breakdown of the {$59000.00} and I was given a hard time by XXXX and the manager XXXX because they knew Shellpoint Servicing had over charged XXXX and that the payments from XXXX were not applied to my home loan. 

In addition, my property taxes in XXXX where only {$4700.00} for the first half of the year and {$4700.00} for the second half of the year. Also, my taxes in XXXX were {$6000.00} for the first half of the year and {$6000.00} for the second half of the year which is an increase of {$2400.00}. Also, my property insurance in the year XXXX was only {$2900.00} and it didnt increase until XXXX of XXXX to the amount of {$3300.00} which is only an additional {$330.00}. The amount of the property taxes and home insurance increased by {$2800.00} ; so why did Shellpoint add {$7700.00} as a shortage and have me paying an additional {$640.00} monthly on my mortgage payment when the increase was only {$2800.00}? Shellpoint Servicing added an additional {$4800.00} to my escrow and increased my monthly payment for no good reason. 
Lastly, I received XXXX mortgage statements in for the month of XX/XX/XXXX. The first statement ( attachment XXXX ) Shellpoint said that my interest was {$4300.00}. I received another XXXX statement ( attachment XXXX ). Shellpoint then raised my interest payment to {$44000.00} which is illegal and incorrect. XXXX at Shellpoint mortgaging has committed fraud on my loan. My interest payment monthly is only {$2000.00} per month. My interest payments for the year of XXXX would only be around {$20000.00} ; however, XXXX generated a second statement and put my interest for the year to be {$44000.00}.

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