Consumer complaint received 2024-08-02 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: Shellpoint Partners, LLC
State: PA

Complaint narrative:
Our loan is backed by XXXX XXXX and we KNOW that there are multiple homeowner assistance programs available and we feel that Specialized Loan Servicing and now Shellpoint are obstructing and denying us access to these programs that could help us and now we are in the beginning of foreclosure. Shellpoint told us that we are not eligible for review for any programs even though our hardship is resolved, we are only 7 months behind and have never been offered a modification, This loan is backed by XXXX XXXX and they are REQUIRED to consider us for all XXXX  and non-delegated homeowner assistance options such as deferment, loan modification, recapitalization of arrearages or repayment plan but this never happened. 

I am not surprised since we were not offered the CARES forbearance as required when my hours were slashed due to Covid which led to missed mortgage payments. Now we are getting notices from their law firm telling us we are going into foreclosure, even though we are financially sound again. We had financial struggles because I was laid off due to Covid in XXXX and missed a couple of payments. We called into speak with SLS and explained we were having a financial hardship due to Covid, but they failed to offer us the CARES forbearance as required for a XXXX XXXX loan. Instead we were offered a six month repayment plan. By the time we entered that plan I was back on my regular hours at the preschool so we were able to resume payments with a little bit extra paid each month so that we got back on track, but should have been offered the forbearance at that time. 
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After our hardship due to Covid we paid as agreed for the next year and a half. In fall XXXX we had a major car repair that needed to be addressed in order to stay employed and also coincided with major medical bills that had to be paid. As a result our mortgage payment for XXXX was returned for insufficient funds. We were unable to make the XXXX payment but reached out in XXXX and made a payment equal to 1.5 mortgage payments in an attempt to get caught up. SLS accepted this payment, but did not credit it towards our mortgage and our delinquent amount grew. Once we realized that we were not given credit for our payment we called in and were told sorry, we are holding that payment and now you need to pay {$4000.00} more all at once to get back on track. There was no discussion of options or other possible solutions, it was all or nothing. The agent told us to try and save the funds and to call back in XXXX and they would work with us. However in XXXX the loan had been transferred to Shellpoint and we called in and they asked us to provide financial information over the phone and they said we would be reviewed for a plan to help us get back on track. But this did not happen, instead we were told that we were not eligible to be reviewed for a plan and needed to reinstate in full and now we are in foreclosure. 

Because of the unethical servicing practices of SLS and now Shellpoint we are in the beginning stages of foreclosure. Our hardship is resolved, we have been able to make our mortgage payment since XXXX but instead have been going around in circles and have never been reviewed for ANYTHING.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation