Consumer complaint received 2025-09-15 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: FL

Complaint narrative:
Good Morning, I am responding to Complaint ID XXXX. I have attempted multiple times to submit feedback through your online portal, but the page would not load, so I am resubmitting my concerns in writing regarding the broader issue with our escrow analysis and monthly payment increase. 

During the period when Shellpoint enforced force-placed wind coverage, our normal monthly payment was {$8300.00}. The annual force-placed insurance charges were : XXXX XXXX XXXX XXXX : {$14000.00} XXXX XXXX XXXX : {$4300.00} Now Shellpoint is claiming that our new monthly payment will exceed {$10000.00}, which does not make sense based on our current numbers. 

Current Loan Figures New insurance policy ( effective XX/XX/2025 ) : {$9600.00} annually Principal & Interest payment : {$4700.00} per month Current escrow payment : {$2400.00} per month ( = {$29000.00} annually ) 2025 Property Taxes : {$10000.00} Even if Shellpoint is claiming an escrow shortage and requesting an additional {$850.00} per month ( = {$10000.00} annually ), the numbers still do not align.

PITI Calculation Based on our principal, interest, taxes, and insurance, our total monthly payment should be approximately {$6300.00}, not over {$10000.00} per month.

Additional Concerns Collecting {$2400.00} per month plus {$850.00} per month equals {$39000.00} annually, which is far higher than the combined taxes and insurance required. This does not factor in credits already applied to the account fo
r XXXX and XX/XX/2025. 

The escrow account appears to still include charges for lender-placed hazard insurance, even though we have provided proof of coverage. 

Formal Request I am requesting a written explanation and a detailed escrow breakdown showing exactly how Shellpoint arrived at the new monthly payment amount, including : Itemized escrow calculation taxes, insurance, and all other components. 

Confirmation of removal of all force-placed insurance charges after XX/XX/2025. 

Calculation supporting the additional {$850.00} per month escrow collection. 

This appears to be a serious violation of escrow accounting standards, and I question how such over-collection can be allowed without proper regulatory oversight. 

On XX/XX/2025 at XXXX XXXX  Eastern, I spoke with XXXX, who confirmed the call was recorded. I strongly encourage Shellpoint leadership to review this call and use it as a training opportunity, as XXXX was unable to answer basic questions about my escrow account and monthly payment calculations. 

I have included detailed communications from my insurance agent, which clearly show that Shellpoint has failed to take responsibility for correcting its servicing errors. 

Please review this matter urgently and provide a written response and corrected escrow analysis as soon as possible. 

Thank you for your prompt attention to this issue.

Company public response: Company believes complaint represents an opportunity for improvement to better serve consumers
Company response to consumer: Closed with explanation