Consumer complaint received 2024-04-27 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: Shellpoint Partners, LLC
State: AL

Complaint narrative:
Borrower is writing to file a formal complaint against NewRez, LLC, d/b/a Shellpoint Mortgage Servicing, regarding their failure to provide requested loan documents in accordance with federal and state laws. On XX/XX/XXXX and XX/XX/XXXX, borrower contacted NewRez, d/b/a Shellpoint Mortgage Servicing by telephone to request a copy of the full disclosure of origination paperwork, to include PROMISSORY NOTE & WARRANTY DEED, at the close and settlement date of borrower 's mortgage on XX/XX/XXXX. During both calls, representatives assured borrower that the requested information would be sent promptly to the email address and new post office box, as provided to them during the calls. 

Despite these assurances, borrower has not received the requested information as of today, XX/XX/XXXX. Despite borrower 's attempts to follow up, NewRez has failed to provide any explanation for the delay or to fulfill their obligation to provide the requested documents. 

This failure to provide requested loan documents is a violation of rights as a borrower under the Real Estate Settlement Procedures Act ( RESPA ) and the Truth in Lending Act ( TILA ). RESPA requires mortgage servicers to respond to borrower inquiries and requests for information in a timely manner. Similarly, TILA mandates that lenders provide borrowers with certain disclosures related to the terms and costs of credit, including loan documents such as the promissory note. Additionally, under Alabama state law, it is a violation to withhold requested loan documents from a borrower.

Therefore, borrower is formally requesting the FULL DISCLOSURE of origination paperwork at closing and settlement on XXXX XXXX XXXX as required by law. XXXX XXXX XXXX was the lender at the time of origination, and borrower expects NewRez Mortgage, as the current servicer of the loan, to comply with my request without further delay. 

In accordance with Generally Accepted Accounting Principles ( GAAP ) as a borrower, borrower believes it is essential to have a clear understanding of the financial activities pertaining to the mortgage. Therefore, borrower requests that NewRez Mortgage provide borrower with a detailed breakdown of the following information : Details of the original loan agreement, including principal amount, interest rate, and terms. 
Accrual and calculation method for interest, including any adjustments. 
Record of all payments made towards the mortgage, specifying principal and interest components. 
Breakdown of any fees or charges associated with the mortgage, such as origination fees, closing costs, or penalties. 
Amortization schedule illustrating the decrease in loan principal over time. 
Information about any escrow account used for property taxes and insurance. 
Comprehensive financial statements reflecting the impact of the mortgage on my financial position, including balance sheet, income statement, and cash flow statement. 
( See attached email as homeowner Insurance company has reached out to borrower in XXXX stating paid has not been made for homeowner 's insurance. Yet escrow is set up and lender has received the funds. XXXX XXXX advised borrower that insurance payments have been paid late for the past 3 years. XXXX XXXX representative also advised that a request has to be sent several time requesting for payment. Earlier this year, a letter was sent to borrower from insurance head quarter company stating that errors were made and borrower 's insurance was not due for 3 months. Borrower contacted mortgage company at that time to cancel drafting but situation is still not resolved. ) Borrower trust that the Consumer Financial Protection Bureau will take appropriate action to ensure that NewRez complies with federal and state laws and provides borrower with the requested loan documents in a timely manner. Thank you for your attention to this matter. 

Sincerely,

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