Consumer complaint received 2026-01-19 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Shellpoint Partners, LLC
State: NC

Complaint narrative:
I purchased 3 mortgages under my business XXXX XXXX XXXX NY, XXXX on XX/XX/XXXX. These properties were at the following addresses : XXXX XXXX XXXX, XXXX, NY XXXX XXXX XXXX XXXX, XXXX, NY XXXX XXXX XXXX XXXX, XXXX NY XXXX The mortgages were initially through XXXX XXXX XXXX, but I never got set up online or received formal statements from XXXX XXXX XXXX because the mortgages were promptly transferred to Shellpoint Mortgage Servicing. The taxes were escrowed with the mortgage company. While Shellpoint was servicing my loan, I received notice from the XXXX of XXXX that my taxes were overdue for all 3 loans. I called Shellpoint Mortgage Servicing on XX/XX/XXXXXXXX to advise of the issue and ask that they take steps to correct the issue, cover any expenses related to the late taxes, and follow up advising how they had resolved the issue. I also sent an email which I have attached ( " Email re late taxes '' ) to an email address provided by the customer service rep and attached the document titled " Late Taxes ''. They did nothing to my knowledge to correct any of these issues. On XX/XX/XXXXXXXX I called Shellpoint again to follow up on the tax issue and address a new issue. I received notice that my payment for XXXX XXXX was increasing from {$1600.00} to {$2700.00} effective XX/XX/XXXX. I looked into this large increase and it immediately became apparent that they had miscalculated the escrow amount. They made 2 errors 1. The prior owner was behind on taxes so back taxes were paid during XXXX. They including the total tax amount paid during XXXX including the back taxes when projecting expected taxes during XXXX. 2. The grossly overestimated the insurance for XXXX. The insurance amount that they are projecting for XXXX is roughly 3 times the insurance amount that was paid for XXXX. I believe they are erroneously including the insurance premiums for all 3 properties when calculating the insurance premium for XXXX. I have followed up with my insurance company to confirm that premiums are not in fact tripling and I have also asked for backup for the large insurance increase from Shellpoint which has not been provided. On the XX/XX/XXXX call it also became apparent that the back tax issue had not been resolved. On the XX/XX/XXXX call I spoke with a manager who agreed that she saw the issues that I was pointing out and that they would be corrected. I was further informed that the email address that I was told to contact on XX/XX/XXXX was not actual valid. After the call on XX/XX/XXXXXXXX I did not receive any follow up. So, on XX/XX/XXXXXXXX I sent a certified letter to Shellpoint which included the following attached documents : 1. Email Re Late Taxes 2. Late Taxes 3. Shellpoint Certified Letter XXXXXXXX Shellpoint signed for the letter and acknowledged receipt. On XX/XX/XXXX I received the attached response from Shellpoint which is titled Shellpoint Response to Certified Letter I have the following concerns about this response : 1. I still do not see confirmation that tax penalties and interest were covered by Shellpoint rather than me. I feel strongly that they are Shellpoints responsibility since the mortgage company is the party who is responsible for making timely mortgage payments. 2. The updated escrow calculation is clearly still wrong. It includes an anticipated insurance payment of {$6600.00}. I have attached a copy of my policy ( Insurance Policy which clearly shows that the insurance premium of {$6600.00} is for all three properties and lists the policy for XXXX XXXX at {$2200.00} excluding the {$33.00} in total fees for all 3 properties. The calculation also assumes that there will be a payment of {$6500.00} for city taxes in XXXX of XXXX. This seems to mirror the payment that was made in XXXX of XXXX. My understanding is that the payment made in XXXX of XXXX included back taxes and fines that were incurred by the prior owners. These are not reoccurring expenses and thus should not be included in these projections. I have attached XXXX XXXX taxes and XXXX XXXX taxes for reference. Furthermore, I have been making the greatly increased mortgage payments for XXXX as a result of the escrow calculation errors and would like to see what can be done to reimburse me after the calculation is corrected. Finally, it has come to my attention that Shellpoint Mortgaging overpaid my house insurance. Due to this error, I received a check from my insurance company XXXX XXXX in the amount of {$2200.00} ( Insurance Overpayment ). I would like to understand how this error occurred and whether I am actually allowed to cash the check or if the overpayment needs to go back to my escrow account. The fact that numerous errors have occurred in the short period that my mortgage has been active is incredibly disappointing. I ask that Shellpoint performs a full audit of all three mortgages and works to uphold their duties as mortgage provider going forward. Thank you for your attention to this matter. XXXX XXXX

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