Consumer complaint received 2025-04-04 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Shellpoint Partners, LLC
State: WA

Complaint narrative:
In XX/XX/XXXX we filed an insurance claim on our house. As per our mortgage lender, all checks have to be endorsed by us and the mortgage company. Our issue is with the second check. We have a third check that we have not sent to be endorsed because of the delays. We sent a second check in the amount of XXXX to Shellpoint on XX/XX/XXXX. The check was deposited into their account on XX/XX/XXXX. While waiting for the check to be released, we went ahead and did the work on our house to protect the asset. We were told we could act as owner as contractors on our house and to get release of funds send in materials lists and invoices etc. All of those are in their possession. We were also told once the inspection was listed at 90 % the checks would be released. On XX/XX/XXXX an inspection was ordered. On XXXX XXXX an inspection was uploaded and accepted. The inspection was listed as 100 % complete. We were also charged {$60.00} for the inspection which was paid XX/XX/XXXX. When we called to asked about the release we were told we needed a waiver of lein from the contractor. We filled out a lein with our names on it as an " owner as contractor letter '' was accepted on XX/XX/XXXX. They came back and said it wouldn't work because their wasn't a company name on it. There wasn't a company because we were the contractors. We resubmitted that lein with our names in the company spot. They also asked for waiver of leins from the contractors we did hire despite having copies of the paid invoices in their posession. Those were acquired and uploaded to the account. Every contact where they ask for more we're told it's an additional 6-8 days of processing despite having all the information in their possession. We have asked for a list of any additional things that may be needed so it can be all handled swiftly at once to stop the delays. We were not presented with a list and at this point have several unanswered emails from XXXX XXXX and XXXX XXXX. I had orginally communicated with a XXXX XXXX, but emails to him returned undeliverable. We feel this company is acting in bad faith as a mortgage company in this state and are costing your citizens extra fees and creating hardships to your homeowners. Due to their delays we incurred late fees and threats from the contractors we did hire. They didn't seem concerned about actually protecting their asset because if we hadn't done the work there would be a lot more damage incurred to our house. We are also incurring interest on credit cards used to pay for the materials to complete the work. I am concerned for other citizens utilizing this company as they may not have the means as we did to get the work done and I feel in a case like this, the mortgage company would be revoking the path to homeownership by causing undue financial stress on its mortgage holders. We would like this matter resolved without having to incur additional expense of getting legal help as we feel it should be a quick and efficient release of a check ( s ) so we can have resolution on this traumatic event in our lives.

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