Consumer complaint received 2025-12-31 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Trying to communicate with the company to fix an issue with the application process
Company: Shellpoint Partners, LLC
State: FL

Complaint narrative:
I am filing this complaint regarding Newrezs handling of my mortgage loan assumption, which has been ongoing since XXXX and remains unresolved due to lack of communication, unreasonable delays, and repeated credit pulls. The first pull was XX/XX/XXXX which I was denied. Second pull was XX/XX/XXXX which I was approved but had no communication between loan officer and or company after multiple calls and emails being sent. Call center said they would call back within 48 hours and never received a call. 

Newrez performed two hard credit inquiries in connection with this same loan assumption. I was approved on the second hard pull. Despite this approval, Newrez failed to complete the assumption in a timely manner due to internal delays and repeated failures to communicate. I sent numerous emails and made multiple phone calls attempting to resolve this matter. 

I formally requested call logs, internal notes, and communication records for my attorney. To date, Newrez has failed to provide these records. 

I am now being told that to complete this same loan assumption, Newrez requires a third hard credit inquiry, which would negatively impact my credit. There has been no change in my employment, income, credit profile, or financial circumstances since the prior approval. Any need for re-verification could reasonably be satisfied through a soft pull or internal validation. 

Requiring an additional hard credit pull due solely to Newrezs internal delays is unreasonable and has caused actual and potential credit harm. 



ALLEGED FEDERAL VIOLATIONS Fair Credit Reporting Act ( FCRA ) 15 U.S.C. 1681 et seq. 
Newrezs actions may violate the FCRA, including but not limited to : 15 U.S.C. 1681b Permissible Purpose Credit reports may only be obtained when there is a legitimate business need. A third hard pull for the same loan, after approval and without any material change, raises serious questions as to permissible purpose.

15 U.S.C. 1681o / 1681n Civil Liability for Negligent or Willful Noncompliance Repeated and unnecessary hard inquiries caused by internal servicing failures may constitute negligent or willful noncompliance resulting in consumer harm.

Regulation V ( 12 CFR Part 1022 ) Furnishers and users of credit reports must exercise reasonable procedures to avoid unnecessary or inaccurate credit impacts. 



RESPA Regulation X ( 12 CFR 1024 ) Mortgage Servicing Violations Newrezs conduct may also violate federal mortgage servicing requirements, including : 12 CFR 1024.38 General Servicing Policies Servicers must maintain policies and procedures reasonably designed to ensure prompt, accurate, and effective communication and loss mitigation processing.

12 CFR 1024.35 Error Resolution Failure to respond adequately to repeated communications and failure to correct servicing errors related to processing delays and documentation requests.

12 CFR 1024.36 Requests for Information Failure to timely provide requested call logs, internal notes, and communication records after formal requests.

HARM CAUSED Negative impact and risk to my credit score due to repeated hard inquiries Prolonged delay in completing a legally permissible loan assumption Time loss, stress, and financial uncertainty Attorney involvement made necessary due to servicer inaction

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