Consumer complaint received 2024-03-04 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Shellpoint Partners, LLC
State: FL

Complaint narrative:
XXXX was a previous complaint for this year. We went as for as to attach our COI in question in the complaint and they still will not resolve this for us. We were approved for a loan with our master HOI policy ( we live in a condo ). New Rez tells us our coverage is not sufficient and force places insurance. Then they realize that we had sufficient coverage. We end up having our money put in escrow. Our issue is that NONE of this should be happening. I even spoke to a representative that pulled it up the policy with me on the phone. We looked at it together and both saw that there is more than enough coverage. I was told the force placed insurance would be cancelled and I would get a letter confirming it. Instead, we got a letter telling us we do not have sufficient wind coverage. This is also inaccurate, but we can't get anything fixed. If you actually look at the attachments, you will what we are talking about. Nobody will help us in spite of being excellent customers that always pays on time, in spite of the fact that New Rez likes to keep adding to our payment. Our loan was approved with a payment of {$1800.00}. Now our payment is {$2100.00}. Nothing has changed. We have sent New Rez the COI over and over and over and called and submitted complaints. Nothing. If you look at the original complaint, you will see that they are not actually looking into this for us because I posted the COI in question and it obviously has all the information like the loan number, address and New Rez listed as the certificate holder. The fact that they are still asking for the same insurance policy that I went over with a representative on the phone is the problem. The fact that we have to spend so much time fighting with this company over absolutely nothing, is a huge issue. The fact that they just take our money because of a mistake on their end and keep placing our money in escrow is a problem. A normal company could just look at the notes from last year and see this is the exact same problem as last year. Others claim to be experiencing this problem with force place insurance. The issue is that you have to go into forclosure and then prove that New Rez wrongly increased your payment. We are trying to avoid all of that and can't get any assistance. We just want our mortgage payment fixed and for the company to figure out some way not to do this to us again next year. Last year I fought this and finally got it resolved. A month or two later, I was at it again. Someone needs to do something about this. Look at my attachments and see if you see the same problems that I do. FINAL QUESTION : How do you suddenly change the insurance requirements mid loan? Our building has to have certain coverage just to be legal. We have sufficient coverage. We have always had sufficient coverage. Fix this, PLEASE! DO not give me canned responses about what you need on the policy. We have done everything on our end. Show me on this policies that I have attached why this one is not sufficient. I am not trained to read these policies, but I do know it is the same coverage we had our loan approved with. Address the actual question, please. I will not stop.

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