Consumer complaint received 2024-12-04 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — An existing modification, forbearance plan, short sale, or other loss mitigation relief
Company: Shellpoint Partners, LLC
State: NH

Complaint narrative:
I have submitted all documents to Shellpoint for a repayment program on numerous occasions. Shellpoint has refused to acknowledge what has been submitted to them in a timely fashion. They have not allowed the single point of contact to complete the process.

Shellpoint has also refused to allow me to apply the Covid 19 payment deferral program. This program calls for recapitalization of all past due payments and deferral of all past due payments until the loan is sold. Shellpoint has refused to underwrite for this option, although they were notified many times of the intent. Recently, I have advised Shellpoint that there was a significant reduction in income, which has now been cured.

Shellpoint has still refused to process a new loss mitigation application. The attached notice issued clearly states This plan is being denied to to lack of self-employment documents submitted. I am not self-employed in any capacity, which has been known by Shellpoint for an extended period. There is also clear notification that loss mitigation options may be available, and you have the option to submit a complete loss mitigation application to receive a complete evaluation for all loss mitigation options available regardless of whether or not you accept this plan. Shellpoint has refused to offer any other options. Shellpoint is in violation of many CFPB laws relating to loss mitigation and loan modifications, primarily CFPB 1024.41. Shellpoint has been stalling out the process for many months unnecessarily. The rules listed below clarify the obligations of Shellpoint. 1024.41 ( c ) ( 4 ) ( ii ) ( B ) ( 4 ) Denial of loan modification options. If a borrower 's complete loss mitigation application is denied for any trial or permanent loan modification option available to the borrower pursuant to paragraph ( c ) of this section, a servicer shall state in the notice sent to the borrower pursuant to paragraph ( c ) ( 1 ) ( ii ) of this section the specific reason or reasons for the servicer & # 39 ; s determination for each such trial or permanent loan modification option and, if applicable, that the borrower was not evaluated on other criteria.

Furthermore, SLS has not provided a full accounting breakdown to prove up the validity of the debt. I have requested this information on numerous occasions via qualified written request QWR. The QWR request has issues raised regarding deed and title transfers that have not 2 been responded too. Per 12 CFR 1024.36, SLS is required to respond based on HUD law.

12 CFR 1024.36 - Requests for information.

( a ) Information request. A servicer shall comply with the requirements of this section for any written request for information from a borrower that includes the name of the borrower, information that enables the servicer to identify the borrower & # 39 ; s mortgage loan account, and states the information the borrower is requesting with respect to the borrower & # 39 ; s mortgage loan. A request on a payment coupon or other payment form supplied by the servicer need not be treated by the servicer as a request for information. A request for a payoff balance need not be treated by the servicer as a request for information. A qualified written request that requests information relating to the servicing of the mortgage loan is a request for information for purposes of this section, and a servicer must comply with all requirements applicable to a request for information with respect to such qualified written request.

( ii ) Extension of time limit. For requests for information governed by the time limit set forth in paragraph ( d ) ( 2 ) ( i ) ( B ) of this section, a servicer may extend the time period for responding by an additional 15 days ( excluding legal public holidays, Saturdays, and Sun days ) if, before the end of the 30- day period, the servicer notifies the borrower of the extension and the reasons for the extension in writing. A servicer may not extend the time period for requests for information governed by paragraph ( d ) ( 2 ) ( i ) ( A ) of this section.

Based on the information submitted within, I am seeking your assistance on this matter.

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