Consumer complaint received 2024-11-01 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Lien release
Company: Shellpoint Partners, LLC
State: CA

Complaint narrative:
I have been trying to have my loan terminated with the company NEWREZ / SHELLPOINT Mortgage servicing for over 6 weeks.

( All of these interactions/phone calls are recorded in their system as well ) Timeline : 1. XX/XX/XXXX : Principal Balance = {$50000.00} XXXX. Roughly XX/XX/XXXX. I withdrew {$86000.00}. New Principal Balance = {$130000.00}. 

XXXX. Roughly XX/XX/XXXX - I write a check for {$160000.00} and deposit it in my personal account and IMMEDIATELY have this HELOC company cancel the check. Principal Balance Still = {$130000.00}. 

XXXX. Roughly XX/XX/XXXX, I withdrew two amounts on two separate transactions ( XXXX ) {$85000.00}, and ( XXXX ) {$78000.00}. New principal balance = {$300000.00}. 

XXXX. Roughly XX/XX/XXXX - The house the HELOC was attached to, the house sold XXXX. Roughly XX/XX/XXXX - Escrow made a {$300000.00} Principal payment based off the demand letter the HELOC company sent and then an additional amount for all of the interest and their payoff fees. New Principal Balance = {$0.00} XXXX. Roughly XX/XX/XXXX - They never closed the account after the house was sold and now a new principal withdrawal of {$160000.00} is now showing on the account. This is in relation to that on line item # XXXX above that I deposited for that amount around XX/XX/XXXX but I immediately called and asked that the check be canceled- they agreed that they would. That {$160000.00} was then reflecting in my account XXXX days after I requested it be canceled So now the principal balance was {$160000.00}. 

XXXX. XX/XX/XXXX - I then transferred back the money, one payment for a {$150000.00} ( XXXX ach amount ). The second amount I called and got a payoff demand dated for that day that stated that the remaining amount was {$13000.00}. So I paid that THAT DAY to make sure they couldnt pull of anything else. Principal Balance = {$0.00} XXXX. I then call to have them terminate the account, they make me send in a written letter to have it paid off, so I do that, then they call me a few days later and tell me that I owe another $ XXXX?? Please keep in mind that is is now the XXXX payoff demand that I have received and every one of them has fees they charge to close out the loan and I have paid those fees every time. 

XXXX. I call back and tell them that this is incorrect and get the run around every single time. There is ZERO activity on this account after this. No money withdrawn and my account has no principal balance. I am then told its going to be elevated to a higher level. 
XXXX. XX/XX/24 - I log in to my account this evening to see 22 random transactions, dated for today ( XX/XX/24 ) on my account with a new principal balance of {$160000.00}. I have taken no money out. 

Pure negligence on their customer service side and on the behalf of their accounting department. And if I dont pay- they dock MY credit score. The house that this HELOC is collateralized against I dont even own anymore ( hence the escrow payoff around XX/XX/24 ). This company needs to be investigated. The customer recordings must be listened to. When you take out a HELOC with one company you dont get to choose who services it, then you get transferred to some trash company like this that can XXXX your entire life up and the consumer has little to no recourse. 

In the below photos, the transactions around XX/XX/24 is when it all becomes just nonsense and has nothing to do with anything I did on this account. It's like someone went in there and just start pressing a bunch of buttons. I even wrote some of the company officers on XXXX to no receive no response.

Company public response: Company believes complaint represents an opportunity for improvement to better serve consumers
Company response to consumer: Closed with explanation