Consumer complaint received 2025-08-06 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Shellpoint Partners, LLC
State: NC

Complaint narrative:
Mortgage Loan Number : XXXX To Whom It May Concern : I am writing to file a formal complaint against Newrez regarding their repeated failure to adjust my monthly mortgage payment after I made additional escrow payments as specifically instructed by their representatives. This has happened on three separate occasions, causing significant financial hardship and emotional distress for my family.

The core issue is this : My mortgage company has repeatedly identified an escrow shortage and offered a solution : make a lump-sum payment to the escrow account, and in return, my subsequent monthly payments would be adjusted downward. I have upheld my end of this agreement each time, but Newrez has failed to adjust my payments as promised, continuing to charge me the higher amount. 

Here is a chronology of the events : Instance 1 : * XX/XX/XXXX : I contacted a representative from Newrez * Promise Made : I was told that if I made an additional escrow payment of {$2000.00} my monthly mortgage payment would be reduced from about {$750.00} biweekly to about {$700.00} biweekly effective XX/XX/XXXX * On XX/XX/XXXX, I paid the requested {$2000.00} to my escrow account. 
* Company 's Failure : My mortgage statement for XXXX arrived, and the payment due was still the original, higher amount of about {$760.00} biweekly. The promised adjustment was not made. 

XXXX XXXX : * On XX/XX/XXXX After the first failure, I contacted the company again. I spoke with a representative * Promise Made : I was told the XXXX analysis was done without the {$2000.00} being applied even though it had already been paid. I was instructed to pay an additional {$650.00} to my escrow account to correct the issue, and my monthly payment would be adjusted to {$700.00} bi weekly. 
* On XX/XX/XXXX once again paid the requested {$650.00} * Company 's Failure : The subsequent mortgage statement for XX/XX/XXXX still reflected the incorrect, higher payment amount. 

XXXX XXXX : * On XX/XX/XXXX For a third time, I contacted the company to resolve this recurring error. 

* Promise Made : I was again assured that an additional escrow payment of {$650.00} was mistakenly made to the principal and it would be applied to my escrow account in two days and would definitively lower my monthly payment to {$700.00} bi weekly starting XX/XX/XXXX * Company 's Failure : As of my most recent statement dated XX/XX/XXXX my payment remains at the unadjusted, higher amount of {$760.00} bi weekly. I am informed by XXXX that my account is somehow still short {$2000.00} even with all the previous payments made. 
Financial Hardship and Impact : This recurring failure has caused significant problems for my household.

* Financial Hardship : We have paid a total of {$2600.00} in extra lump-sum payments based on the company 's promises. Despite this, we are still being forced to pay a higher monthly amount than we were told to budget for. This has strained our finances and made it difficult to manage other essential household expenses. 
* Wasted Time and Distress : I have spent countless hours on the phone trying to rectify their error, only to be given the same false promise repeatedly. The stress of not knowing what our true payment will be and the frustration of being misled by our mortgage servicer is substantial. 
Desired Resolution : I request that the CFPB investigate this matter and compel Newrez to take the following actions : * Immediately correct my monthly mortgage payment to the amount promised after my most recent escrow contribution of {$700.00} biweekly. 
* Conduct a full audit of my escrow account to ensure its accuracy and provide me with a clear, understandable analysis.

* Provide a written explanation for why the payment adjustments were not made as promised on three separate occasions.

* Credit my account for any overages that have resulted from their failure to adjust my payments in a timely manner.

I have documentation, including bank statements showing the additional payments and mortgage statements, which I can provide upon request.

Thank you for your time and attention to this serious matter. I look forward to your assistance in reaching a resolution. 

Also, the practice of both the supervisor and the employees when revisting their mistakes is actively hostile. They accuse you of being incompetent, tell YOU that it was YOUR mistake to trust them, and only offer an 'oops sorry ' for sheer incompetence and this hostility. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

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