Consumer complaint received 2024-02-17 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Private mortgage insurance (PMI)
Company: Shellpoint Partners, LLC
State: MI

Complaint narrative:
This is in regard to COMPLAINT ID XXXX submitted on XX/XX/2024. The response I received from Newrez contains inaccuracies and does not address several key issues. First, their claim that our XXXX form was not received is false. The form was signed by both me and my wife and we both witnessed it being included with our check and sealed in the envelope. The check was cashed by Newrez so they either misplaced the form accidentally or lost it on purpose. We had waited months for this form to arrive and it represented thousands of dollars in savings to us. So, after both of us signed it and put a check in the envelope, it is highly unlikely that we then forgot to include the form. Their self-serving and convenient claim that we simply forgot to include the vital form signed by both of us in the envelope is ludicrous. In addition, the form includes the statement : 'Please make sure address shows in window ' and then has the Newrez mailing address below it. So, my question is this : How did the check arrive to the right place if the form was not included? I have paid hundreds of bills over the years inlcuding many mortgage payments, and none of them were mailed without the proper form. I ALWAYS double check that everything is in every bill I mail, that the check is complete and signed and that the address shows through properly. I am very precise in things I do so I am certain that it was also done in this case.Their form also requires a signed statement authorizing the valuation that our check was paying form and my loan number. How did they process a check for something I did not authorize. I am not sure if that constitutes fraud but the fact that they require our signature on the form must mean that info is important. If they did not have it, why did they cash our check? To further complicate this claim that the form was not included and to cause further delays, I was never told that the form was not turned in. When I saw that my check was cashed, it was my logical assumption that the form was processed and things would move forward. Why would they cash our check if they did not have the proper documentation that was supposed to accompany the payment. Regardless of them not communicating to us that the process was stalled due to the lack of this form, I did reach out to Newrez on two occasions to check on the status of the process once by phone and once through their online chat. Both times I was told that the process could take up to 60 days and that they could not provide any info on the status. NO ONE ever mentioned that the process was stalled because they were missing key information. I only found this out later when the 60 days had passed and there was still no result. At that time, I was told that it was my responsibility to follow up on my form and check submission. Which I did, and I was not told anything. I had multiple conversations with Newrez representatives and ewach time I was told a different reason for the delay. It was not until I pressed for more info that I was told the ACTUAL reason for the delay. If they had communicated properly, we would have saved months of wasted time and money. For a company who holds all the cards to make it this difficult for customers to get a lawfully-mandated result is unfair and represents a lack of concern for consumers. I'd like to add that during one of my phone calls to Newrez, one of their representatives read me the notes from my account that stated that an appraisal was not even needed for this request since we already met the threshold for qualification. I did not understand what this meant at the time since it was during my first phone call after the check was cashed and at that time I thought things were still in process. That representative did not mention that my form was missing. I am sure I can request phone records to verify the times I contact Newrez if they are in dispute. If they have any recorded calls that dispute any of my claims I urge them to bring these forward. It would be easy for us to just let this go but I feel it is important for large companies to treat consumers with respect and fairness when they hold all the cards and make it so hard to communicate with them to get truthful answers.

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