Consumer complaint received 2026-05-20 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Paying off the loan
Company: Shellpoint Partners, LLC
State: WA

Complaint narrative:
Company : NewRez LLC / Shellpoint Mortgage Servicing I am the borrower on loan # XXXX serviced by Shellpoint Mortgage Servicing, secured by property at XXXX XXXX XXXX, XXXX, WA, XXXX. My home is scheduled to close on XX/XX/XXXX. Shellpoint has issued three materially incorrect payoff statements in response to written payoff requests and is now refusing to issue a corrected statement on an expedited basis, placing my closing at imminent risk of failure. Timeline : On first attempt ( XX/XX/XXXX ), a written payoff request was submitted. Shellpoint returned a payoff statement for the wrong loan, not my account. On second attempt, a second written request was submitted. The statement was sent to the wrong receiver. On third attempt, a third statement was issued. This statement includes a {$99000.00} prepayment penalty that is not supported by my Note. This was confirmed to be incorrect. I have contacted Shellpoint 's payoff department by phone and requested an immediate corrected statement. Shellpoint has refused to expedite a correction despite knowing my closing date. We talked with XXXX XXXX ( Claimed he was commercial department ). He proceeded to claim that " not even famous celebrities '' get their requests expedited which really upset us. We let him know that they are well beyond the 7 days and this needs to be corrected due to their mistakes. We have had to extend to today for closing ( XX/XX/XXXX ) and still nothing has been received. Now the buyer is threatening backing out and this will cause a major issue due to Shellpoint 's negligence. This is not only causing harm to us, but the buyer who is a veteran getting ready to deploy and Shellpoint ( XXXX XXXX XXXX made it very clear to us that he does not care. Regulatory violations : 12 CFR 1026.36 ( c ) ( 3 ) Failure to provide an accurate payoff statement within a reasonable time, not exceeding seven business days. 12 CFR 1024.35 ( b ) ( 6 ) and ( b ) ( 11 ) Errors relating to servicing, including failure to provide an accurate payoff balance. 12 CFR 1024.36 Failure to respond to requests for information. Inclusion of a {$99000.00} prepayment penalty not authorized by the Note may also constitute a violation of the Fair Debt Collection Practices Act ( 15 U.S.C. 1692f ( 1 ) ) attempting to collect an amount not expressly authorized by the agreement creating the debt. This is consistent with Shellpoint 's documented pattern of servicing failures, including the CFPB 's XXXX enforcement action and {$2.00} million civil money penalty against the company for misrepresenting loan terms to borrowers. Harm : If a corrected payoff is not issued within XXXX hours, my purchase transaction may collapse. I face direct financial loss including [ earnest money/ per diem extension fees/ lost interest rate lock / potential loss of the property ]. Last payoff request received is attached to this email to evidence the inaccurate early prepayment penalty.

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