Consumer complaint received 2020-12-02 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: Shellpoint Partners, LLC
State: NJ

Complaint narrative:
Our mortgage is held by Shellpoint Mortgage. Because of Covid 19, my work has been shut down since XX/XX/XXXX. I am furloughed until at least spring or summer of 2021. I have been able to collect unemployment and have found some XXXX  work, in the meantime. The mortgage is only in my name. My wife is not listed as a co-borrower. She is self-employed and mostly works part-time. Her work was also greatly impacted due to the pandemic. She is the person who handles the finances and the communication with the mortgage company. We applied for a forbearance at the end of XXXX. Communication with Shellpoint for the following few months was very sparse. We were told near the end of XXXX that it was approved for 30 days and that they would call us on the following XXXX  at XXXX to discuss the next 30 days, because they only approve 30 days at a time. They never called. They did eventually email to say they would call at another specific day/time. They did not. A stop payment was placed on our account and we believed that meant we were approved for more time. In late XXXX XXXX they called to ask for a payment in full. We have been trying to work out a solution ever since. In XXXX, we did send them {$120000.00} to cover three months of payments and requested that the outstanding months be deferred to the back end of our loan. We've submitted multiple hardship letters, months of bank statements, explanations of deposits, explanations of our work search, lists of our monthly expenses, etc. They continue to refuse to approve a deferment and claim we have the money to pay in full. We don't. They have made decisions based on old information. We were advised to request again. We did. They continue to deny a deferment. We have requested this three times now. The last time was at the beginning of XXXX. This time we were denied because of a missing bank statement. Our bank changed our savings account statement cycle to be quarterly ( we have no idea why and they couldn't explain that either ) so there was no XXXX statement generated. We submitted a screenshot of that account activity, but Shellpoint would not accept it. Our bank did eventually mail us a statement, but it took over a week and Shellpoint denied our request before we received. it. We've continued to explain that a 12 month repayment plan would create an even greater hardship, because our income is not stable as a result of the pandemic. We do want to resume payments. We've expressed this since XXXX when we sent the check for $ XXXX. They still have a stop payment on our account through all of this and will not allow us to make monthly payments, but they continue to add late fees every month. We went ahead and mailed a payment for XXXX and they returned it because it wasn't enough. They said they will only accept a minimum of two months. What!?!? This has been incredibly frustrating and humiliating.

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