Consumer complaint received 2026-04-29 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Fees charged
Company: Shellpoint Partners, LLC
State: TN

Complaint narrative:
On XX/XX/XXXX, I was erroneously charged an insufficient funds fee for Newrez LLC ( " Newrez '' ). I made several attempts to contact them to have the fee removed, including sending my bank statement via a written request to have the fee removed, and questioned them about an unapplied partial payment on XX/XX/XXXX. On XX/XX/XXXX, I made a partial payment from my XXXX XXXX XXXX checking account of XXXX to my XX/XX/XXXX, mortgage payment. I changed the frequency of my payments to monthly after realizing my partial payments are only held and not applied to my balance until the monthly payment deadline, providing no benefit to me for early payment. I then scheduled the other half of XXXX to be removed from my XXXX XXXX XXXX checking account on XX/XX/XXXX. I also started a recurring schedule of payment to be the full mortgage amount of XXXX from my XXXX XXXX XXXX checking account on the first of the month, the due date. On XX/XX/XXXX, Newrez provided me with a letter explaining their reasoning for the fee. They stated, " according to our records, Newrez determined that a payment of XXXX was received on XX/XX/XXXX, and initially placed into unapplied funds. Subsequently, on XX/XX/XXXX, an additional payment of {$1000.00} was received, bringing the total unapplied funds to {$2000.00}. From this amount, {$2000.00} was applied to satisfy the XXXX, XXXX, XXXX, mortgage installment, while the remianing {$.00} was appiled to prinicipal. '' I have verified with my bank that no attempt was made by Newrez to receive funds from my bank on XX/XX/XXXX. Then Newrez falsified that the full {$2000.00} was returned to my financial institution due to insufficient funds. No money was returned, nor is that the practice of my bank ; additionally, as they stated earlier in the same letter, {$1000.00} was received on XX/XX/XXXX and held by them. This money was not returned and remained with Newrez. Concerned about my credit standing, I made a complete payment on XX/XX/XXXX. I paid a total of {$2000.00} from my XXXX XXXX XXXX checking account to Newrez. In the same letter, Newrez mentioned that a partial payment of {$1000.00}, made on XX/XX/XXXX, had supposedly been returned to my bank on XX/XX/XXXX. Later in the same letter, Newrez noted that they applied an amount of {$970.00} allocated to principal and {$30.00} designated for a non-sufficient funds ( NSF ). This payment was made without my permission, and then on XX/XX/XXXX, this principal payment amount was subsequently added back to my balance. So {$1000.00} is still being held by Newrez. You might be wondering why Im taking the time to file a complaint over just {$30.00}. I believe this issue goes far beyond that small amount. I suspect that this company is intentionally concealing a mistake and refusing to acknowledge its error. If Ive faced this issue, countless others are likely experiencing it as well. While {$30.00} may seem insignificant in isolation, when multiplied by thousands of customers, it can lead to substantial financial gain for Newrez. This isnt just about one complaint ; its about accountability and ensuring that everyone is treated fairly.

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