Consumer complaint received 2025-03-04 00:00:00
Product: Mortgage — Conventional home mortgage
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: CA

Complaint narrative:
Letter sent on XX/XX/XXXXXXXX  via NewRez portal 4 times, and also sent via email/XXXX  to XXXX XXXX and XXXX XXXX ( upper management ). As of XX/XX/XXXX, WE HAVE RECEIVED NO RESPONSE. 

I am contacting you to request that you rectify a grievous error made on the part of New Rez Mortgage, a subsidiary of Shellpoint Mortgage Servicing Company that has resulted in our credit being ruined. We have made at least 7 attempts over the past 8 months spending dozens of hours, trying to correct this situation, and the only thing that has happened is that New Rez has ruined our credit. These are the facts : 1. WE MAKE OUR MORTGAGE PAYMENT IN FULL ON TIME, AND HAVE SINCE WE PURCHASED THIS PROPERTY. WE HAD A CREDIT SCORE OF OVER XXXX UNTIL NEW REZ MADE A COLOSSAL ERROR THAT HAS SNOWBALLED AND NEW REZ HAS RUINED OUR CREDIT. 
2. SHORT SUMMARY : NewRez placed Lender Placed Hazard Insurance on our account that was UNNECESSARY ( we provided proof of insurance multiple times ). This snowballed into incorrect accounting on our account that has not been remedied after MONTHS of fruitless attempts on our part with your representatives.

DETAILS : XX/XX/XXXX : Lender Placed Hazard Disbursement begins even though we had already purchased our insurance policy and submitted that proof to New Rez. 
XXXX & XXXX Submitted proof multiple times AGAIN via different avenues ( NewRez portal, NewRez chat, New Rez Insurance email. 
XX/XX/XXXX : Spoke to XXXX at New Rez and explained that we had purchased and submitted proof of insurance. He said that they would redo the escrow analysis and correct the situation. 
XX/XX/XXXX & XX/XX/XXXX : XXXX  refunded by NewRez in the amount of {$1600.00} XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX : XXXX  refunded by NewRez in the amount of {$1800.00}. 
XX/XX/XXXX : NewRez increased our mortgage payment by {$320.00} because their accounting mistakes were not corrected despite the credit for the XXXX  we were owed. 
XX/XX/XXXX : NewRez realized their error, and removed that {$320.00} additional payment, but did not correct the overall accounting AND began assessing late fees of $ XXXX. 
XX/XX/XXXX : Spoke to XXXX : 1. Requested yet another escrow analysis.

2. Requested late fees be halted and refunded.

3. Requested mortgage payment amount be corrected. 

NOTHING CHANGED! 
XX/XX/XXXX : Spoke to XXXX Insurance Department : 1. He confirmed that Lender Placed Hazard Insurance was removed on XX/XX/XXXX. He then transferred me to the Loan Servicing Department to try to correct the account. XXXX XXXX confirmed that we had a {$2000.00} credit on the account. 
XX/XX/XXXX : Spoke to XXXX : 1. Requested that the late fees be reversed since the whole situation was caused by an error on the part of New Rez. She put in the request, and said a decision would be made on XX/XX/XXXX. Case # XXXX. We are still waiting. 

XX/XX/XXXX : Spoke with XXXX XXXX. She told me : 1. We have unapplied funds of {$2000.00} on the account.

2. She was submitting a ticket for a full audit of the account because New Rez had created such a mess.

3. There was a ticket in process for late fees being waived ( STILL NOT CORRECTED AS OF XX/XX/XXXX! ) 4. She was submitting a ticket to remove escrow from our account. ( We had already purchased our insurance policy for the year on XX/XX/XXXX, submitted proof to you, and we wanted to pay our own taxes since NewRez holding escrow proved to be a nightmare. ) 5. She was submitting a ticket for a new escrow analysis.

6. We would receive a phone call from NewRez to go over the account and would receive a letter outlining the changes.

7. When we receive that call, we need to make sure the representative goes back into our account and fixes our credit. 
8. Because our credit was being ruined, she said that she would escalate the situation, and connected me with her supervisor XXXX XXXX I spoke with XXXX XXXX and summarized the situation. She apologized and assured me it would be handled. 

We received no phone call or letter, and we were threatened with foreclosure, so we called again. 

XX/XX/XXXX : Spoke to XXXX : 1. We requested on update on all the tickets opened by XXXX XXXX on XX/XX/XXXX. 
2. XXXX had no updates, and said she would escalate the request to a supervisor. She would not provide a name of the supervisor. 
3. We expressed concern that our credit was being ruined. and we had received a threat of foreclosure. XXXX said there was no pending foreclosure, and to check back in a week. 
XX/XX/XXXX : Another late fee of XX/XX/XXXX was assessed, almost 1 month AFTER the late fees were supposed to be reversed. 

XX/XX/XXXX : Spoke to XXXX : 1. Said you cant remove escrow because we are delinquent BECAUSE OF THE MESS NEWREZ CREATED AND HASNT FIXED IN 8 MONTHS.

2. Still have not addressed the late fees.

3. No record of an audit of the account. 


HERE ARE MORE FACTS : By the end of XXXX, we had paid over {$13000.00} into our escrow account, but only {$8500.00} was required to pay our taxes. Our insurance was paid IN FULL BY US ( once again, with proof provided to NewRez multiple times, and acknowledged by New Rez ). That would leave a credit BALANCE in our escrow account of {$4600.00}. 

In XXXX, we have ALREADY paid our insurance in full and supplied proof of insurance to New Rez which they acknowledged, and we continue to pay almost {$900.00} into our escrow account every month which would MORE THAN COVER our {$8600.00} annual taxes. 

NewRez ADDITIONALLY is holding {$2000.00} in UNAPPLIED FUNDS. 

As you can see, this is a mess and we have done nothing but try to rectify it WHILE paying our bills on time. There is a reason that we had XXXX credit until NewRez proceeded to ruin it. We are asking for your help.

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