Consumer complaint received 2020-09-29 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Shellpoint Partners, LLC
State: PA

Complaint narrative:
Since XXXX of this year, I have had to call Shellpoint at least once a month in an attempt to get the allocation of the monies we send them allocated as we instructed. I have spoken with representatives who apparently don't bother to listen even though I have asked them to make copious notes in their computer detailing our conversations. 

The monies are received by Shellpoint and they do whatever the XXXX they want with it. They have misapplied payments. Put payments in " unapplied status '' and currently hold money in this " unapplied status '' while charging the account late fees! How can you have late fees when you have monies in an " unapplied status ''! 


On XX/XX/XXXX we mailed Shellpoint Servicing a check for {$5300.00} to bring the delinquent payments current. 

On XXXX we mailed Shellpoint a check for {$2700.00} AND DESIGNATED ON THE CHECK THAT IT WAS TO PAY THE TAXES IN THE ESCROW ACCOUNT TO BRING THE ESCROW TO XXXX. 

On 2 SEPARATE OCCASIONS we requested that the escrow account be eliminated and that we would be paying the taxes and insurance. Shellpoint responded by saying they would " they would give us an answer ''. 

I spoke with a representative earlier around the XXXX of this month. I had not received a letter or notification the escrow removal had been denied. The representative I spoke with made no mention that it had been denied. I told the rep I was going to send a simple P & I payment for XXXX in and it should be allocated as such. I asked to make a note in the computer so someone would see it when the payment came in. We can get a copy of the recorded conversation to verify if we need to! 

We never received an answer for ether request to remove the escrow account. A representative from Shellpoint that I spoke with on Monday XX/XX/XXXX confirmed Shellpoint NEVER sent a letter stating to us the request to remove the escrow was denied. 

Therefore, as payments have been made, unbeknownst to us, Shellpoint starting with the XX/XX/XXXX payment, takes what would be a simple P & I payment and escrow taxes out of that. This leaves a shortfall in the P & I payment. They then charge late fees because the payments were " made full on time ''. 

We have sent payments every month on time since we started managing this account. I have called and spoken with representatives in an attempt to get the amounts needed to bring the escrow accounts brought to current. We sent those payments in. Because of their error not to send the escrow denial notification we were under the assumption our instructions had been followed as asked. 

Monday I learned they are applying the payments differently, and they are charging us late fees, holding money in an account AND NOW THEY'RE MAKING ME WRITE COMPLAINTS TO GET THIS RESOLVED!! 

I have spent an inordinate amount of time trying to get this company to get the allocations on this account correct. My efforts go in vain. I now have to seriously consider the thought that they are holding money for their own use and purposes.

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