Consumer complaint received 2026-03-10 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Shellpoint Partners, LLC
State: MN

Complaint narrative:
I am filing a complaint regarding NewRezs handling of my homeowners insurance claim proceeds and loss draft/escrow account. After a covered loss, my insurer [ Insurance Company Name ] issued claim payments to NewRez totaling {$50000.00}. Per NewRezs own transaction records, this check was received on XX/XX/year> and deposited into a restricted escrow account on XX/XX/year>. From this amount, NewRez processed a disbursement of {$280.00} on XX/XX/year> and a second disbursement of {$12000.00} on XX/XX/year>. During a recorded customer service call on XX/XX/year>, I was told the second disbursement was not actually mailed until XX/XX/year>, which is an unreasonable delay between processing and sending funds to me and my contractor. A second insurance check for {$31000.00} was received by NewRez on XX/XX/year> and, according to their records, deposited into the restricted escrow account on XX/XX/year>. Despite this, I was told that these funds were still not available and that NewRez could only disburse {$4000.00} even though more than {$30000.00} is being held in escrow. On XX/XX/year> at approximately XXXXXXXX XXXX CST, I received a call from XXXX XXXX in the NewRez Loss Draft Department ( on a recorded line ). She stated that NewRez was waiting on the funds to be deposited from the last check even though their system shows the deposit on XX/XX/year>, and that they could only send {$4000.00} now. She said that once the {$31000.00} shows up in the escrow account, they might then send about {$24000.00}. This is inconsistent with their own deposit records and is preventing timely payment to my contractor. XXXX XXXX also asked us to submit a contractor payment schedule, even though we had already provided that schedule on XX/XX/year>. This suggests NewRez is not reviewing or acting on documentation that has already been supplied. Additionally, inspection reports were promised within 3 business days but were only made available after about 7 business days and only after I called to ask about them. The result of these delays and inconsistencies is that necessary repairs are being delayed, my contractor is not being paid according to the agreed schedule, and my property is at risk of further damage, even though insurance funds have already been paid and deposited. I am requesting the Department of Commerce to review NewRezs handling of my loss draft/escrow funds and require them to : Disburse sufficient funds from escrow to pay my contractor according to the approved scope and payment schedule ; and Comply with reasonable timelines and transparent procedures for inspections, posting of inspection reports, and disbursement of insurance proceeds. I am attaching my detailed letter to NewRez, transaction screenshots, and related documentation. there is more documentation and screen shots of the delays that I could not attach but i'm very happy to send as well as a VM.

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