Consumer complaint received 2025-01-01 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: Shellpoint Partners, LLC
State: FL

Complaint narrative:
I am writing to petition CFPB and Higher Governing Authorities to investigate and enforce legal action against XXXX XXXX XXXXXXXX ( XXXX. ), Specialized Loan Servicing LLC ( SLS ), and Newrez Shellpoint Mortgage Servicing ( Shellpoint ) for numerous regulatory violations and unfair predatory practices committed in the servicing of my Home Equity Line of Credit ( HELOC ) account # XXXX. Despite filing previous complaints ( # XXXX and # XXXX ), no significant action has been taken to address the serious misconduct of these entities, whose misrepresentation has put me in financial distress due to their refusal of admission to fault. SLS/Shellpoint continues XXXX blatantly violate my Consumer Rights.

Violations and Compliance Failure : Negligent Misrepresentation : XXXX. initially claimed the existence of an Escrow account for Hazard Insurance. Upon the abrupt transfer to SLS, which, when the disclosure history was challenged, it was revealed to be nonexistent XXXX had failed to create XXXX. Misrepresented as an escrow deficiency and knowingly transferred as such. 
XXXX. also failed to provide evidence of payment requirements which accumulated over five years without billing. 
XXXX neglected compliance to establish yearly disclosure, analysis and statements of an escrow account. Yet transferred an escrow deficiency in the amount of - {$43000.00} to SLS on XX/XX/XXXX. I was already in dispute with XXXX. over additional principal payments of {$160.00} having been misapplied to interest several times and closed with unapplied principle. My account was then abruptly sold in less than 90 days despite it being disputed and unresolved. An additional dispute has emerged. 
Full history had been requested numerous times ; to date, I have only received partial history from XXXX to XXXX XXXX. The period from XXXX to XXXX XXXX has been received from SLS in complaint # XXXX, but only the same partial history was provided. The account was transferred from XXXX in XXXX what does FULL history mean?? These entities ' repeated misconduct appears to be a deliberate effort to confuse and cause harm. Retaining unearned premiums and cover-up their mismanagement of my HELOC. As time passes, numerous discrepancies are unfolding. This constitutes unconscionable Predatory Economic Coercion. 
Failure to Provide Required Escrow Disclosures : XXXX XXXX XXXXXXXX not only failed to provide required Escrow disclosures over time, but there are also discrepancies with the 1099 disclosures. Dates were adjusted to apparently curtail the Florida statute of limitations on their gross negligence of my HELOC accounting. Their misconduct is knowingly coordinated collusion based on the date adjustments of events. Even the dates in the County recordings leads to more questionable discrepancies. Their misconduct has caused me financial distress and emotional harm. These violators must be addressed, as I am left confused as to why these fees were allowed to accumulate without billing and only appeared as a deficiency upon transfer to SLS. No explanation has ever been given. It is a harmful and unfair practice that I am petitioning The Governing Authorities to fulfill their obligation of intervention and investigation. 
Insurance Misrepresentation : SLS engaged in fraudulent conduct by creating a false Insurance policy. XXXX. had transferred a Escrow knowing that no Escrow was established. SLS has persisted in the accuracy of the transferred amount, though acknowledging cancellation in a response letter on XX/XX/XXXX to complaint # XXXX XXXX. When challenged to present the evidence. SLS failed to provide the declaration of Insurance or refund due. Not only has SLS shown bad faith by not simply rectifying the matter, but going to the length of forging a policy is confirmation of despicable perjury and contempt of doing what is right and fair. Responding that they had not paid insurance on my behalf yet their false documents prove they did. SLSs fraudulent conduct should not be swept under the rug by the Governing Authorities. B.A failure to establish Escrow for over 5 years with no billing appears intentional to default me into foreclosure. 
XX/XX/XXXX, XXXXXXXX XXXX Complaint Description https : //complaint.consumerfinance.gov/XXXX XXXXXXXX 1/3 Unfair Billing Practices : The entities involved failed to bill over a five-year period. They have willfully altered dates and adjusted amounts on a whim. SLS/Shellpoint continued hindering my access to pay down additional HELOC principal, which is in violation of the HELOC agreement that states that principal and interest are to be paid first. Their denial is an unethical breach that is extortionate and unjust to my situation. 
These are violations of federal billing regulations. They have not allowed additional principal payments even with surplus funds. instead impose late fees on timely payments they consider partial payment, though their numerous unresponsive ticket request. I was told it is my responsibility to follow up. 
When last spoke with customer service they claimed there were none. Will provide names, dates, time and ticket numbers of hours on the phone. 
Obstruction of Account Access : SLS/Shellpoint were obstructing access to my account. SLS prevented me from making online payments to my principal balance unless I agreed to the accuracy of fees. 
They regularly make changes in statement formatting and disclosure formulas. Since the merger of SLS with Shellpoint on XX/XX/XXXX, the billing format has changed several times, which compounds the matter further. I had to make four phone calls just regarding gaining access online to the account. 
Upon access on XX/XX/XXXX, there is a deficit of - {$5100.00} which is now - {$5600.00} I disputed immediately considering the {$7.00} was still unaccounted for with SLS. Their deliberate misconducts is causing further confusion and financial distress. They continue violation of federal billing regulations by not proving clarity of payment detail which every month has discrepancies on statements and online servicing. I am request that their records of my account be subpoena has evidence of my claims. 
Legal and Financial Concerns : The actions of XXXX XXXX XXXXXXXX, SLS, and Shellpoint have not only caused significant intent of financial harm but also has violated several Federal, State and Consumer Protection Laws. The continuous discrepancies, misrepresentations, and fraudulent practices are evidence of a deliberate and systematic effort to undermine my rights as a consumer. It must stop immediately. It has gone on for too long. They must cease and desist. I am demanding resolve. 
Request for Action : I respectfully request that The Governing Authorities investigate these entities for their willful collusion of non-compliance with Federal and State Regulations, including RESPA, TILA, and the Fair Debt Collection Practices Act ( FDCPA ). Specifically, Consumer Protection Laws. 
A comprehensive audit of XXXX XXXX XXXX, SLS/Shellpoint 's handling of my HELOC account for all the violations with Riddles of Discrepancies and Predatory Behavior. 
Enforcement of penalties and fines for their violations of Consumer Protection Laws.

Immediate corrective actions to address the financial harm and distress caused by their illegal actions. 
Ongoing monitoring of these Entities to ensure Compliance with Federal, State and Consumer rights regulations, due to the THOUSAND of COMPLAINTS on XXXX XXXX and CFPB as the worst Mortgage Servicing Violators Ratings. 
Conclusion I petition for The Governing Authorities to penalize XXXX. and SLS/Shellpoint for their willful Violation of the Rules, Regulations, and Consumer Laws. I petition that they cease and desist from further abuse and misconduct regarding my account. I have endured severe distress, XXXX, and sleepless nights due to the illegal actions of these Entities. I urge your offices to take immediate and decisive action to hold XXXX XXXX XXXX, SLS/Shellpoint accountable for their repeated DECEITFUL and unfair misconduct. 
XX/XX/XXXXXXXX XXXX XXXX Complaint Description https : //complaint.consumerfinance.gov/XXXX XXXXXXXX XXXX I look forward to your prompt response. I am available to provide any additional documentation or information required for this investigation. 
Sincerely XXXX XXXX

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