Consumer complaint received 2025-09-09 00:00:00
Product: Mortgage — VA mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: Shellpoint Partners, LLC
State: FL

Complaint narrative:
The company that bought our loan after we purchased the home was Shellpoint/New Rez. We financed our home at XXXX. Around XXXX of XXXX my husband was laid off. Forcing us to file for unemployment and food stamps, and needing to enter a loan forbearance program to get by. The forbearance program ended in XXXX and our first payment was due in XXXX. We were originally told to make regular monthly payments while we figured out and decided on what program we would go into once the forbearance was over. Shellpoint would not allow us to make a regular payment, they wanted a single payment of around XXXX and refused to allow us to pay any less than that. It was that or nothing. We first agreed to a repayment plan. The representative was not completing their end of the paperwork, so they would not accept payment from us. I called frequently from XXXX of XXXX checking to see if their paperwork was complete so we could make a payment as we were ready to make a payment and tried to make a payment in XXXX, XXXX, XXXX, and XXXX. Finally after escalating the issue and demanding to have a different representative on our case, they complied but told us because of their representative not doing their paperwork we now no longer qualified for a repayment plan and we're told we would have to enter a loan modification program, otherwise they would foreclose on our home. We signed as we did not want to lose our home. They accepted payments from us on this new interest rate from XX/XX/XXXX through XX/XX/XXXX while they completed their end of the paperwork. In XXXX of XXXX I was finally able to see details of what our loan looked like. This forced program that we would not have been forced into if it wasn't for one of their employees not completing paperwork in a timely manner added XXXX to our loan; erasing nearly 5 years worth of payments and taking our new principal balance to XXXX. We continued to make payments through XXXX of XXXX, and at closing time they still took a check for XXXX and are currently sending us letters stating we still owe them additional funds. I had called in XXXX of XXXX because the principal balance was not changing as we made payments, also wanting to know where the payments from XXXX of XXXX of XXXX went, and wanting a break down of how this program allowed them to add XXXX to our original loan. They said we signed, so that's just it. We also had no choice but to sign, they would have foreclosed on our home and even threatened to foreclose while accepting monthly payments- their reasoning for the additional threats was that if the paperwork submitted didn't get approved by someone on their team, they would still foreclose anyways. They refused to escalate the issue and allow me to speak to someone else within the company- this information is even stated in the notes from our time with Shellpoint/New Rez. We believe we overpaid by quite a bit. We did some simple math and calculated nearly XXXX in overpayments, we could be wrong as we are not professionals on the matter. 

We would appreciate any help we can receive on trying to recover some if any of our over payment, and we would like to bring light to how Veteran families are being treated by this company.

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