Consumer complaint received 2024-11-07 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Shellpoint Partners, LLC
State: NJ

Complaint narrative:
Re : NewRez Loan # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, NJ XXXX XXXX Dear Sir / Madam, I am seeking your help in resolving the disastrous situation NewRez Mortgage has created with my mortgage account that has ruined my credit history.

I have tried to resolve this matter for the past 6 months without any success. 
Every month I call to make the mortgage payment over the phone and every time I am told that they will expedite my request in reviewing the submitted documents and correct / update my mortgage account and to this date, there has been no resolution. 
I closed on my new property last year and opted not to have an escrow account as part of my mortgage payment. 
I have been paying my RE Taxes quarterly however, in XX/XX/XXXX, the tax bill was late XXXX  days ( still under the grace period ) however, the county mailed the lender the tax bill and the lender promptly made the quarterly tax payment ( which I was not aware of as the mailing address the lender had was missing the apartment number and I was not getting the statements ).

I have also made the quarterly tax payment however the county returned my check because they could not accept the double payment. 
I called on XX/XX/XXXX to make the monthly mortgage payment and was told that my mortgage payment will include the RE Taxes. 
I stated that I opted not to have the RE Taxes and Insurance as part of my mortgage payment and was told by the representative that I have an option to pay the taxes separately, so I made the regular payment which included the Principal and Interest only. 
Apparently, this is where all the mess started while I was making the payments, the lender was holding the payment in the suspense account and crediting the payment the following month. I was never explained that they are not crediting my payment as of the day they are receiving the payment. Instead, they kept escalating and researching the case however to this day, I have not heard back from them. 
In XXXX, I called to make the payment and was told that my payment was {$10000.00} which included the taxes that the XXXX paid on my behalf. I promptly made the payment in XXXX and XXXX for {$10000.00} to reimburse the XXXX for the quarterly taxes that they paid and asked not to have the taxes paid on my behalf. 
I was told that if I opted not to have an escrow, I would have to show proof that the payments for taxes were made and I would not have to pay the increased mortgage payment that included the escrow for taxes. I have provided the Lender with a Letter from the county reflecting the taxes paid up to date and requested to remove the escrow. 
On XX/XX/XXXX, as per Supervisor request, I emailed again a letter from XXXX XXXX clearly stating that no tax payment is due at this time and that the taxes are paid up to date. 
I was told by the same Supervisor that I would have to show proof that the payments for taxes were made, and I would not have to pay the increased mortgage payment that included the escrow for taxes. 
Please see attached the letter from XXXX XXXX clearly stating that no payment is due at that time and that the taxes were paid up to date. 

I have submitted the tax payment documentation from the XXXX reflecting the property taxes at {$24000.00} for the year. The same document has been submitted to the XXXX analysis department however as of XX/XX/XXXX aside from the fact that the request to remove the escrow has been denied, we were never told why the bank is collecting {$3500.00} each month for tax escrow. 
The lender was collecting {$42000.00} in annual taxes instead of {$24000.00}. That is a surplus of {$17000.00}... 
After speaking to the Universal Supervisor, XXXX XXXX on XX/XX/XXXX, XXXX ( fifty ) days after the request for the escrow analysis review, I was notified by the same Supervisor that the monthly payment will decrease to {$9200.00}. 
There was never an official letter with an escrow analysis, just an email letting me know that going forward, the payment should be {$9200.00} Please see below the payment history as I struggle to rectify the issue, and the bank is refusing to cooperate and continues not only to credit the payments late, they are also missing XXXX payment?! Bank statements reflecting the monthly payments have been submitted to the lender and they have confirmed that they received everything XX/XX/XXXX - {$7100.00} XX/XX/XXXX - {$7100.00} XX/XX/XXXX - {$10000.00} XX/XX/XXXX - {$10000.00} XXXX is claiming that there was an attempt to debit the payment on XX/XX/XXXX to make the payment for XXXX however, no attempt has been made to debit the money on XX/XX/XXXX. The payment for XXXX went out on XX/XX/XXXX. 
XX/XX/XXXX - {$7100.00} XX/XX/XXXX - {$7100.00} XX/XX/XXXX - {$7100.00} XX/XX/XXXX - {$13000.00} XXXX XXXX - {$10000.00} XX/XX/XXXX - {$9200.00} XX/XX/XXXX - {$9200.00} Every time I called the lender, I received different information ... Mortgage payments are not being posted correctly. Payments being returned while the payments were never even presented for payment to my account?! 
We heard all kinds of nuisance trying to justify the mess that has been created with this mortgage account, which has affected my credit history while I have always been making the payments on time. 

I understand that an escrow account needs to have a reserve, however {$17.00}, XXXX was a huge reserve... Whatever taxes the lender paid on my behalf, has been brought to {$0.00} with XX/XX/XXXX payment - {$13000.00} The bank statements provided to the lender with the dates provided above for the mortgage payments clearly show the payments were debited from my account. 
Why is the lender still showing XXXX missing payment? 

I am at the complete loss here as I have exhausted every option at this point The lender has ruined my credit because of their incompetence, and I am asking for your assistance in resolving this matter. 

Please review how the payments were credited to the account and have the lender correct the payments that have not been applied correctly and remove the derogatory information that is a result of the lender gross incompetence and negligence. 
Thank you very much in advance! 


XXXX XXXX XXXX

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