Consumer complaint received 2024-07-25 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Shellpoint Partners, LLC
State: OH

Complaint narrative:
We used to have our HELOC through Specialized Loan Services/Achieve Loans and over the past month, Shellpoint Mortgage took over our loan. We were notified of the change, as we did not initiate this transfer. The documentation we received says that the terms of our loan would remain the same. As soon as we were able to log into Shellpoint 's online portal, we noticed that our monthly payment had been raised by {$100.00} and we had received no notification of this increase. In the past, our HELOC payment has never increased that dramatically, it has only ever changed within cents or a few dollars, never {$100.00}. We are up to date on the loan and do not have any missing/late payments. 

On XX/XX/XXXX, I called and spoke to a rep named XXXX, who first told me the increase in payment was because our interest rate went up to XXXX %. I pointed out to her that I was currently looking at our past statement with the lower payment and that it was already at a XXXX % interest rate and that that never increased because that is what it has always been. She continued to try to convince me that it changed, despite the proof that I had in my had. She eventually agreed that it is a problem that it was raised by {$100.00} and said she would open an inquiry to have the problem looked into and told me that I would receive a call within XXXX days. 

When we did not receive a call, I submitted an online message on XX/XX/XXXX and never heard back from anyone. 

I called again on XX/XX/XXXX and spoke to a rep named XXXX. She told me that she doesn't know why the previous rep gave me a timeline for when I would hear back from them because they don't give timelines like that. She was unable to give me any information but agreed to have someone else look at it. 

Later that night on XX/XX/XXXX, my husband called and spoke to multiple reps, XXXX of which was named XXXX XXXX. He admitted that the first inquiry that I submitted had expired yesterday and that I should have gotten a call within those XXXX days. XXXX had lied about them not giving timelines because he confirmed that they do and that my inquiry had expired without anyone calling us back. XXXX said he would escalate the problem and that we would hear back by the following Monday ( XX/XX/XXXX ). 

We did not receive any calls by XX/XX/XXXX so on XX/XX/XXXX, my husband called again and spoke to several reps who refused to give any sort of explanation or help as to getting the problem resolved. He had to call back a second time that same night because he was sent to a voicemail inbox at XXXX point. The final rep that day told him that we would hear something by XX/XX/XXXX, which is when our next payment is due. 

We have submitted proof to Shellpoint of our previous monthly payment because they are claiming that they do not have any information on our previous payments from SLS. They have admitted that the transfer process from SLS to Shellpoint has been a mess but can not give us any assistance or information as to why the payment increased so much without notice. They have tried to tell us we have missed payments, fees, etc., but we have not missed any payments. We have asked for an explanation, knowing that if there was an actual reason for the increase, that they would be able to provide that explanation, yet they have not been able to do that.

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