Consumer complaint received 2026-01-27 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: Shellpoint Partners, LLC
State: RI

Complaint narrative:
My complaint is with Newrez Mortgage Company. 

As a client for over five years with my mortgage at XXXX XXXX XXXX, XXXX, Rhode Island, I thought it logical and prudent to go with Newrez when I decided to sell my home and buy a new home in XX/XX/year>. Newrez Mortgage Company and its Loan Officer XXXX XXXX XXXX ' sheer incompetence led to financial loss, without a home and quite frankly emotionally devastated. 

Approximately XX/XX/year>, XXXX XXXX became my Loan Officer ; I was pre-approved almost immediately for a mortgage of up to {$400000.00}. Various promises were made, including {$1000.00} toward my closing cost for being a repeat customer. 
Throughout the process, XXXX XXXX was misleading, unprofessional, and literally delusional ( never had any record of any documents I sent him/constantly asking me for the same documents I had already sent. ) I found my dream home which was {$20000.00} more than I was approved for initially, so I contacted XXXX XXXX and was approved for {$420.00}. I signed the Purchase & Sale Agreement and other essential documents, had the home inspection, and Newrez had it appraised and the date was set for both of my closings ( present and future homes ). 

Approximately one week prior to closings, all communications from Newrez/XXXX  abruptly ended. My realtor, closing attorney and myself waited for the clear to close go ahead. After extensive searching, I contacted XXXX supervisor, XXXX XXXX, and I relayed the dire situation with XXXX. XXXX XXXX promised he would straighten out the situation, glitches and miscommunication from XXXX XXXX. Not only did that not happen, but now XXXX XXXX would not return calls from my realtor, my closing attorney or myself. This is beyond incompetence, this is purposeful maleficent business practice. 

Finally, a day prior to the closings, my realtor finally received a call from underwriter, XXXX XXXX, who stated that I needed {$36000.00} more to close and suggested I borrow it! My realtor informed her that they better figure out a new financial plan as I was supposed to close on both houses ( one I was selling and one I was buying ) in less than 24 hours, XX/XX/year> beginning at XXXXXXXX XXXX 
With my realtor and attorney attempting to reach anyone at Newrez Mortgage Company, I was in limbo, shuttling my two full-loaded XXXX trucks between my sold XXXX house and my supposed new home on XXXX XXXX XXXX My new home never closed. 

I was without a home - basically couch-surfing - with two dogs from XX/XX/XXXX until XX/XX/XXXX. My outstanding debt is over {$10000.00}. This is a s follows : deposit, appraisal ( Newrez requirement ) home inspection, XXXX XXXX trucks that we had to keep until finding storage, storage, movers fees ( even though they didnt get to move ) dog boarding and the {$1000.00} Newrez promised toward my closing as I was a repeat customer. 

Additionally, I left all brand new appliances, ( fridge, built in microwave, stove and washer and dryer ) in my sold home with the understanding that I was getting all of these in the XXXX XXXX home. 

In closing, please let me add that my final approval for a mortgage from Newrez was for {$420000.00} at 6.35 % rate. With current rates higher, I was then approved for {$38000.00} from a new lender, and purchased a home on XX/XX/year>. 

Newrez is a capricious mortgage company at best and they must be held accountable for their shady lending practices.

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