Consumer complaint received 2024-10-17 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
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: CA

Complaint narrative:
This is to notify you of all the issues we have faced since Shellpoint started servicing our HELOC, and to address our extremely urgent request to remove the delinquency status on our account so that we can withdraw funds. 

Timeline of events : XX/XX/XXXX : We were notified that our HELOC account was put on " delinquency '' status. When inquired further, Shellpoint agent informed us that we have not been making payments, which was not accurate. The Shellpoint agent checked their system even further and found out that we have been making payments, however, the payments have not been posted to the Shellpoint system ( portal ). He in fact confirmed that this was not our fault and that it was a " Shellpoint '' system issue. He was able to apply the payments and confirmed that the issue was rectified. Since then, we continued to make our payments to Shellpoint on a regular basis and withdraw funds as needed. 

XX/XX/XXXX : Our check for {$6300.00} to XXXX was returned due to a Bank Issue. When we called Shellpoint to inquire what was going on, we were told that the correction was in process. The agent confirmed that payments have been applied to our Shellpoint account. 

XX/XX/XXXX : Two more disbursement checks ( totaling ~ $ XXXX ) were returned due to the same reason above. We made a 3rd call to Shellpoint with no help from the agent and had to escalate to a manger for help. The manager told us that the hold on our HELOC account is permanent and that we need to send a dispute request through the Shellpoint portal ( online ) for them to investigate and correct the issue. He also mentioned that it will take at least 5 days to receive the request and for them to start investigating. We submitted our request immediately after the call. 

XX/XX/XXXX : We called to check the status of the request and were told that they received our request, but it could now take up to 30 days. The agent also told us that we will not be notified if/when the issue is resolved and that we must call daily, if we wanted to, to know the status. 

XX/XX/XXXX : On our call today to inquire about the status of our request and account, the agent told us that they have not received any request from us regarding our account. When we explained what we did and was told in the past ( Submit request via the Shellpoint online portal ), he said that we need to submit our request in writing to the address above, hence this letter to you. 

Our HELOC account should never have been in a delinquent status in the first place. If the account was put in a delinquent status due to a Shellpoint system issue, it should have been automatically removed when the payments were correctly posted to the account. We shouldnt have had to make a separate request to remove the delinquency status as its directly associated with the payment posting error from Shellpoint. Due to this error from Shellpoint, we are now in a difficult position where our payment to the vendor has been delayed and they might be sending our account to collections. We also have an extremely urgent need to withdraw some funds from our HELOC and we are not able to do that.

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