Consumer complaint received 2024-04-20 00:00:00
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: Shellpoint Partners, LLC
State: PA

Complaint narrative:
I am filing this complaint against Newrez and Shellpoint regarding a VA Loan Assumption. Please let it be known that I have been bounced back and forth between two departments within this company FIVE TIMES. I believe we are looking at Shellpoint and NewRez - One is an assumption loan which is a cost effective process in which I assume the VA Loan which currently belongs to my ex-husband. It should be a simple process. Fill out the forms and file it- which we did. The XXXX Department has no phone number and no secured portal in order to upload private and sensitive information. Yet they continue to demand I email it through XXXX. So I had to mail everything via the United Postal Service which takes time. Furthermore, let it be noted that the two departments do not communicate and I have had to send the same forms several times or demanded that they work together. 
I have been switched 5 times between these departments There were times they made me complete the same form more than once because they couldnt see the form number at the bottom. It has been the most frustrating process for months. XXXX XXXX never requested XXXX  Tax forms due to the timing of everything, However, all those other forms have been repeatedly sent to this company - both sides of it. Bank Statements, paystubs, ALL OF IT sent over and over because they expire due to the delays. I have filed out every form that the company just re-sent. The company continues to request more duplicative items, transfers me, delays the process, and has still not provided any grounds for acceptance or denial. I am a single, XXXX mom who makes over $ XXXX a year. This year I have already put $ XXXX on the books in real estate deals. My ex-husband has filled out and signed every requested form. I have provided bank statements and paystubs repeatedly, because it keeps expiring as NewRez attempts to figure out how to do an assumption. At this point, it is my belief that there may be Federal Fair Housing violations, as I can not comprehend how someone with my credit standing cant assume a {$2200.00} mortgage. Rents cost more these days. 

Furthermore, I have made no inquiries on my account, opened any credit lines or anything but my credit continues to decrease with each hit every month that this company makes as they try to figure out how to do an Assumption. That being said, I have an XXXX XXXX XXXX, make over $ XXXX a year and have been paying this loan timely for the last 7 months. I was recently retransferred to the Purchase Department for the 3rd time, without reasoning or notice and told that now I would need $ XXXX instead of $ XXXX in order to close this loan and still can not explain to me why they are not treating this as the low cost assumption that it is. As NewRez has no idea what forms are needed or which department I belong with, I refused to sign a closing disclosure made under the incorrect department for an exorbitant amount of money. They tried to get me to sign it more than once. This is an Assumption Loan and needs to be treated as such. They have inexcusably delayed this process and now the escrow I have been paying during these delays will be going to my ex-husband upon final closure of my Assumption. ( Seven Months ) There needs to be a full investigation of the electronic files of this company. You will see that I am writing the truth about this unethical company who has made it impossible to obtain an Assumption loan as allowed by the law. I have consulted the Veterans Affairs Department who directed me to this Bureau. My next step is legal representation.

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