Consumer complaint received 2025-07-10 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Shellpoint Partners, LLC
State: CA

Complaint narrative:
On XX/XX/year>, I received a notice from newrez that my mortgage payment would be increasing by {$390.00} due to a {$4600.00} shortage in my escrow balance. 

I contacted newrez and was told that an escrow analysis had been performed on XX/XX/XXXX and determined that my insurance bill had increased, causing a shortage in my escrow account. 

I contacted my insurance carrier and was told that my insurance had not gone up over {$4000.00} for the year. 

I called newrez back and spoke with XXXX, who got on a 3 way call with my insurance carrier and myself. During this call we learned that newrez had incorrectly read my insurance bill and was including my XXXX XXXX, and my XXXX XXXX, all of which had always been paid by myself, not by escrow. My insurance carrier explained to newrez that because they had a financial interest in the property, the insurance carrier provided them with the statement for all insurance on the property. My insurance carrier went on to explain that the XXXX XXXX, which was paid out of escrow, was {$1500.00}. My insurance carrier then agreed to refund {$3100.00} to newrez, for the overpayment they had made to cover XXXX XXXX and my XXXX XXXX. 

Newrez told me to call back in 10 days to insure the refund had been received and request a new escrow analysis. 

I called Newrez back on XX/XX/XXXX. The automated system still stated that my monthly payment on XX/XX/XXXX would be the higher amount. The monthly payment had not been adjusted. I then spoke to XXXX and reiterated all the information from the first call with newrez and my insurance carrier. XXXX told me that she corrected everything and a new escrow analysis would be performed in 30 days. I informed XXXX that my new/inaccurate payment was due on XX/XX/XXXX and that was before the 30 day window. XXXX stated that and escrow analysis takes 30 days and there was nothing she could do. I asked to speak to a manager. 

I was transferred to XXXX, who identified himself as a manager. I explained the issue to XXXX and pointed out that newrez had not done anything to fix their error and only through my proactive calls had anythign happened. I explained that I did not think I should be overcharged because of newrez ' mistake. XXXX agreed and promised me to have the escrow analysis done in 3 days and have the information updated so that I would not be overcharged. 

On XX/XX/XXXX I was charged the new/inaccurate amount, despite XXXX at newrez ' promise. 

I called newrez back on XX/XX/XXXX and spoke to another manager named XXXX. XXXX took the above referenced information and stated that it would be corrected and I would receive an email from him which would give me the ability to reach him directly. 

I received an email from XXXX with my new escrow analysis. The analysis shows my mortgage payment going up {$78.00} from the original amount ( pre fiasco. ) The analysis stated that there was a projected escrow shortage of {$320.00} and I would be charged accordingly until the shortage was addressed. 

I emailed XXXX asking for clarification. I did not receive a reply. 

I sent a follow up email to XXXX stating that I had not heard from him and would be filing a complaint if he did not respond. He did not respond. 

Due to newrez ' inability to read my insurance statement and discern between XXXX XXXX, XXXX XXXX, and my XXXX  Policy, I overpaid {$390.00} on XX/XX/XXXX. Yet, my post XX/XX/XXXX analysis shows a {$320.00} shortage and does not take into account that the money I paid erroneously was for an inaccurate escrow analysis with an inflated insurance premium. 

I would like my overpayment to be refunded and I would like my mortgage payment to return to its rightful amount.

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