Consumer complaint received 2020-12-05 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Shellpoint Partners, LLC
State: PA

Complaint narrative:
XX/XX/20 I received a letter from XXXX XX/XX/XXXXXXXX informing that my 20 % mortgage was maturing on XX/XX/XXXX. When I called them asking for options, they told me nothing was available from them and I would have to refinance through another lender XX/XX/20 I received a letter from NewRez c/o XXXX XX/XX/XXXXXXXX informing me that my interest rate and monthly payment amount for my 80 % mortgage would be changing as of XX/XX/20. This is why I choose them to refinance both mortgages into one after XX/XX/XXXX couldn't help me XX/XX/20 I contacted XXXX XXXX XXXX XXXX to start a mortgage refinance. I sent emailed all requested information to the loan officer but then spent weeks trying to verify he had everything needed from me. 

XX/XX/20 I contacted NewRez in regards to refinance options because the manager at XXXX let me know that due to their employee quitting unexpectedly my refinance was never started as I believed. She felt that a refinance of my mortgages through XXXX would not be completed by XX/XX/XXXX. She felt that the mortgage holder might have different deadlines available to them. 
I called XXXX XXXX from NewRez Refinancing department. He said he would check with his supervisor about the XX/XX/XXXX deadline issue. 

XX/XX/20 XXXX called me to let me know that after checking it was determined that the XX/XX/XXXX deadline would not be an issue when refinancing both me mortgages ( XX/XX/20 ) with them. Because the 20 % holder was a sister company, they would be able to see that the refinance was in process and everything in regards to that loan maturing would be on hold because they would be able to see that a refinance was in process. I applied for a refinance with NewRez on this date and submitted all requested documentation. 

XX/XX/20 XXXX called me to set up an appraisal, I paid {$500.00} XX/XX/20 I received an email from XXXX to authorize a title search which I executed and returned. I also received an email with the appraiser contact information. He would reach out to me direct for scheduling. 

XX/XX/20 I received an email from XXXX letting me know that my loan was sent to the underwriter for review XX/XX/20 Appraisal was done XXXX Appraisal was received by NewRez and I got a copy XX/XX/20 I requested an update on the refinance from XXXX via email XXXX XXXX requested updated paystubs which I was able to send on XX/XX/20 XXXX I received an email from NewRez informing me that my loan was approved. It listed a new Loan Number & gave access to a loan portal XXXX I emailed XXXX asking for an update on refinance because I could not log into the loan portal for details. I also asked for verification about not being able to pay 20 % mortgage payment since it matured on XX/XX/XXXX. 

XX/XX/20 XXXX responded to my email and copied XXXX & XXXX. He stated that I should continue making payments unless I had a closing date. He also asked XXXX & XXXX to address my concern. 

XX/XX/20 I emailed XXXX, XXXX & XXXX asking for direction because letter from XXXX stated that payments less than the full balance might be returned after XX/XX/XXXX. XXXX responded telling me to try to make the monthly payment for the 20 % loan. 

XX/XX/20 XXXX asked me my loan number. XXXX immediately replied with my 80 % mortgage number ( XXXX ), my 20 % mortgage number ( XXXX ) and my new NewRez number ( XXXX ) XXXX XXXX emailed me to congratulate me that my loan was conditionally approved by the underwriters. He asked for documentation that had previously been submitted to both XXXX & XXXX. There was a? in the area for the date of closing so I called him immediately to ask questions including how to handle not being able to pay the 20 % mortgage payment for XXXX. I got voicemail & left a message. 
In a separate email, XXXX stated that he did not see loan number XXXX in my records and asked if I was referring to the lien on the property by XXXX County. I immediately responded that I was not referring to XXXX County and that the 20 % mortgage was XXXX. 
He then responded " What do you mean by you will pay on your second mortgage? '' XX/XX/20 left voicemail asking XXXX to call me XX/XX/20 XXXX called to discuss XXXX not being willing to take a monthly payment and said he would have to talk to someone to see what could be done XX/XX/20 XXXX emailed me to ask if I was able to use my own funds to pay off the $ XXXX balance of the 20 % mortgage. I let him know that I do not have that amount of funds and if I did I would never have started the refinance process. He replied that he would get back to me on Monday. 

XX/XX/20 At XXXX XXXX, I received an email from XXXX that stated that my refinance was being cancelled

Company response to consumer: Closed with explanation