Consumer complaint received 2024-09-03 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Payment process
Company: Shellpoint Partners, LLC
State: TX

Complaint narrative:
My loan was transferred to Shellpoint as of XX/XX/XXXX. My auto-payment was not drafted out of my account so I manually paid the loan on XX/XX/XXXX. On XX/XX/XXXX, the auto-payment was drafted and so I effectively double-paid. I called Shellpoint and asked for the second payment to be returned to me given the double payment and this request was submitted for approval. The Shellpoint representative confirmed that they saw the XXXX payments and that the refund request for the second payment was legitimate. 

After not hearing back, I called back later in XXXX - XXXX this point, I was told the refund request was still being processed. I was led to believe I could allocate the second payment to XXXX if the refund did not get processed. 

Shellpoint attempted to draft my XXXX payment, which I asked my bank to put a stop payment on as I had already paid for XXXX. 

Beginning on XX/XX/XXXX, I began to receive emails that I was now 2 months behind on my mortgage - XXXX and XXXX - despite having spoken to Shellpoint who confirmed receipt of XXXX payments in XXXX. 

On XX/XX/XXXX, I called again to inquire about my loan status. I was told that the second payment I had sent was still not-allocated due to my refund request. I was requested to provide a bank statement showing the double payment in XXXX and that showed I did not receive a refund for the second payment. I provided this information as requested. 

I followed up on XX/XX/XXXX. I was told the issue was actually an allocation between principal and interest and that once the allocation issue was resolved, that my account would reflect properly. The representative I spoke to confirmed that there were XXXX payments received in XXXX and that they were not allocated, and upon the processing team updating the account my account would reflect accurately. 

I followed up on XX/XX/XXXX - This time, I received new information. I was told that my initial payment from XXXX was not reflecting for the XXXX payment due to an error in the principal and interest calculation from the prior servicer. I confirmed that my loan was current as of XX/XX/XXXX and that after an audit of my loan, I was NOT going to get credit for my XXXX payment that I made. This is an XXXX only loan for which I made my monthly payment as contractually obligated. Shellpoint is not giving me credit for the payment that I made. This is the first conversation I had with a Shellpoint representative where I was told I was not getting credit for my XXXX payment either. 

Secondly, they indicated that I was not being credited for the second payment that I made in XXXX as they indicated the funds did not settle correctly. I referenced the bank statement that I previously provided showing that XXXX payments were taken out of my account in XXXX and the representative indicated they would forward my information to the payment processing team. 

It has now been nearly XXXX  months and I am not getting credit for the XXXX  monthly payments that have been made on my account and Shellpoint is misrepresenting my account as being past-due as a result.

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