Consumer complaint received 2026-01-12 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: Shellpoint Partners, LLC
State: PA

Complaint narrative:
My mortgage was foreclosed in XXXX of XXXX, while I had an active application for loss mitigation. 

In XXXX of XXXX I was again approved for a loss mitigation plan with three trial payments due in XXXX, XXXX an XXXX of XXXX. 
I was also applying for assistance through the state program and was denied a loan on XX/XX/XXXX. At this point I made my first trial payment which had to be paid by the last business day of the month. A bank error caused the payment to not be processed until XX/XX/XXXX. On XX/XX/XXXX, I changed my insurance coverage on the property which resulted in my insurance premium being reduced by {$10000.00}. 

On XXXX XXXX I received an attached letter from the XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX notifying me that I was eligible for a {$50000.00} grant for reinstatement, but that they could not apply the funds unless I made payment of approximately {$22000.00} by XX/XX/XXXX. Instead they wanted to apply the amount to the unpaid principal balance once i signed the loan modification. This amount could either be forwarded to the mortgage company or paid to the XXXX directly. I expressed my intent to reinstate to one XXXX XXXX and informed her that I believed the amount stated as due through XX/XX/XXXX was invalid as it did not contemplate my updated escrow amount nor the payment for XXXX. 

I borrowed the funds from my parents because the reinstatement was a much better option as the incomplete loan modification would result in my mortgage with a rate of 3.1 % and a monthly payment of approximately {$2600.00} raising to an interest rate of 7.5 % with a monthly payment of nearly {$6200.00} as my once deferred principal balance would now be due. I sent proof of my payment and insurance change to XXXX and they reached out to the XXXX coordinator XXXX XXXX at Shellpoint New Rez several times requesting an updated amount. XXXX XXXX 's responses were forwarded to me that she was waiting on a response from loss mitigation. 

Because a sale was scheduled, the XXXX representatives advised me to pay the trial payment while they awaited a response. 
I raised several inquiries and received several different responses. As of XX/XX/XXXX when I was due to make the payment XXXX had failed to receive a response from Shellpoint/New Rez ; therefore, the XXXX was unable to process the payment. 
I called and began escalation on XX/XX/XXXX with Shellpoint at which point my single point of Contact ( XXXX XXXX XXXX ) advised that the state would not issue the funds or allow a reinstatement and that I was not able to make the supplement payment but would have to go through with an unsigned loss mitigation and that this came directly from the state. The company also provided two different reinstatement amounts one in the amount of {$72000.00} and one in the amount of {$51000.00}. On both estimates, shellpoint included pre-paid escrows which under the terms of my mortgage were not yet due in the amount for reinstatement ; however in the reinstatement. 

I notified the mortgagor 's attorney of this discrepancy and they provided another amount {$66000.00} due through XX/XX/XXXX As I had not made the XXXX trial payment this would require me to pay the {$6200.00} to the XXXX along with another {$10000.00} which I borrowed from my parents resulting in preserving my rate and keeping my home affordable. 

Additionally, while I and XXXX were assured that my foreclosure sale was on hold, as of XX/XX/XXXX the attorney for the mortgagor has failed to postpone the sale as they had not received the request from Shellpoint/New Rez.

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