Consumer complaint received 2024-09-05 00:00:00
Product: Mortgage — USDA 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: OH

Complaint narrative:
Shellpoint Mortgage dba NewRez is refusing to release loss draft monies that were paid by insurance company for home repairs from insurance claim. They paid out the first installment and repairs were made. I provided all documents requested and the home passed inspection by the mortgage companies inspector. I was told that since the home is over XXXX XXXX complete with repairs being done that the remainder of the insurance monies would be released within 15 days. On the 15th day I received an email stating that the funds would not be sent and now they are requesting more documents that I can not obtain. They are stating that they need a waiver of lien from a contractor that I did NOT use to do any work on my home. I provided them with the waiver of lien from the actual contractor that DID the work and they will not accept that. Instead they are giving me the run around and asking for things I can not get. They are asking me for quotes on work that has already been completed and passed their inspection. Why? The work is done what does it matter now? I chose not to use the contractor that the insurance company picked out of a phone book for me because they were cheaper. They didn't like the numbers on the 5 quotes I gave them so now this is an issue? The insurance company is who sent the quote/estimate to my mortgage company. I was left out of that process. This is who they chose not me! When I asked for a copy of the estimate from insurance company they wouldn't send it to me. I didn't see the quote until I got the check to send to the mortgage company. Insurance told me that I could pick whomever I wanted though to do the actual repairs and that they didn't care one way or the other. So I went with my own local reputable contractor who did a wonderful job. I can not complete the remaining home repairs needed until the rest of the funds are dispersed to me. They will not respond to my emails or phone calls nor answer my questions as to why they are asking for items I can't get. I have asked for the manager or person in charge they have not provided. Every time I contact them by phone a customer service agent tells me that it will be another 15 days to process. In 15 days I call and it's another 15 days to process. It has been since XX/XX/year> when the storm came through and blew a tree down through my roof and caused other damage. I am still trying to get it XXXX XXXX fixed and completed. I just got the roof done so I could live in it. This is the mortgage companies house until I pay it off and you would think that they would want it fixed and worth what I owe on it??? I don't know if you can help me but I appreciate your time. I have all correspondence I can provide to you except for the direct phone calls that were made to customer service. I believe those have been recorded by mortgage company or so they tell you. Thank you!

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