Consumer complaint received 2025-07-30 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Trouble during payment process — Fees charged
Company: Shellpoint Partners, LLC
State: FL

Complaint narrative:
Im filing this complaint because I genuinely feel like Im stuck in a predatory loan situation with XXXX support or guidance from Shellpoint Mortgage. 

I purchased this property using a DSCR loan and set up a separate bank account specifically for it. Rental income was being deposited into another account, and I was manually transferring funds over each month to cover the mortgage payment. I was on autopay, and everything seemed fineuntil XX/XX/XXXX, when they tried to pull a payment and it didnt go through due to insufficient funds. I received an email about it, and just XXXX days XXXX XXXX XXXX made the full payment. Yes, I missed the grace period by XXXX days, but I acted fast and made it right. 

What I didnt know, and was never notified about, is that they canceled my autopay. I had no idea it was turned off. So when XXXX came around, I assumed the payment would come out automatically like it always had. It didnt. I later got a notice in the mail about the missed payment. By XX/XX/XXXX, I paid both the XXXX and XXXX payments. I accepted that I would probably have to pay a late fee, but I was shocked when a representative from Shellpoint contacted me months later and said I owed over {$3800.00} in late fees. 

I was completely blindsided. I immediately asked for those fees to be waived, and they told me it wasnt possible. On XX/XX/XXXX, I sent them a written request for a full breakdown of any communications regarding my loan from the first missed payment in XXXXincluding anything showing the cancellation of autopay. Within XXXX  days, I got a vague letter saying they needed more time to compile the documents. Its now been over XXXX  days and I still havent received anything. 

Ive asked multiple times for clarity. I asked them to show me the documentation I supposedly signed that authorizes fees this excessive. If I had known the penalties were this severe, I wouldve handled things differently. But again, I had no idea autopay was canceled, and they didnt notify me. 

To make matters worse, after digging into this more deeply, its starting to look like this loan XXXX be predatory in nature. These late fees are compounding interest and charges monthlyand I simply cant afford to keep up. I feel like Im being financially exploited. On top of that, this loan is tied to a beach condo thats been completely unusable since XXXX XXXX hit in XX/XX/year>. Despite the property being gutted and uninhabitable, Ive still paid over {$50000.00} on it since then. 

This entire situation has put a massive financial strain on me. I even inquired about a possible forbearance, but when I did, I was told it would only result in more fees and penalties being added to the account. Im barely keeping up with the monthly payments as it is, but Ive been doing everything I can to stay afloat and keep the property. 

Shellpoint Mortgage has been no help at all. I cant get straight answers from anyone on the phone, and theyve failed to provide any of the documentation Ive formally requested. Im doing my best, but this is getting out of control. I need someone to look into this loan and how theyre handling it, because from my end, I feel like Im being taken advantage ofplain and simple.

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