Consumer complaint received 2024-10-30 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Shellpoint Partners, LLC
State: NY

Complaint narrative:
Back in the beginning of XX/XX/XXXX, I submitted my documentation and payment to have my PMI removed with my mortgage servicer, NewRez. I was instructed to pay the fee ( {$190.00} ) for the valuation of my home to determine if PMI could be removed. After the company sat on my payment for almost a month with no communication, I followed up with them regarding next steps. They informed me that they received the payment ( and per my bank, cashed it in the beginning of XXXX ), but they didn't receive my " signed approval document. '' This is impossible ; the approval my husband and I signed had the address on it for where the payment was supposed to go. It had to be visible in the return envelope window for it to even get there. So not only was who received my envelope careless and my document was ( hopefully ) destroyed, I received no correspondence from them that they received this money asking where they should apply the payment ... so they just knew to apply it as a fee for a valuation? Makes no sense. I had to go through the process again and request they expedite me another form to sign and email in. I received the form, signed and emailed it in. Within a few days I received correspondence that my document was received, and I would hear from an external appraiser about scheduling the valuation within 14 calendar days. Another 21 calendar days went by, I heard nothing, so I reached back out to NewRez yet again. I reached out via the company 's chat function, and when I requested a number for someone I could contact regarding this issue, I was told " There is no one that you can talk to. '' A few days after that, I received a letter in the mail that stated PMI was removed AFTER AN ACCOUNT REVIEW WAS PERFORMED. Never was I told a simple account review had to be done! This company deceived me into paying {$190.00} for a valuation of my home, just for a simple account review to be performed. I contacted them yet again, because nowhere in the early removal paperwork did it say an account review could be performed. When I asked about having that fee returned, I was told I would have to file a dispute. I did that on/around XXXX. As of today, XX/XX/XXXX, I have received no correspondence that my dispute was received and is being reviewed. I have received no communication as to the status of my dispute, and I can not get a hold of anyone in customer service to determine the status of my dispute. I currently see a $ XXXX sitting in my account dashboard, but I can't get anyone to tell me what that is for ( I can only assume it is a refund for my fee payment ). Additionally, my XXXX statement is not available, so I can not determine if this is going to be applied to my monthly payment or if I will receive it as a refund. I believe the whole PMI removal process was a violation of UDAAP as it is completely deceptive ; all I needed was an account review and I wouldn't have had to go through this whole process. The amount of time I have spent between being on the chat with the company, sending emails through their Contact Us function, and attempting to call and getting circled back in the phone menu to literally no one has cost me WELL OVER {$190.00} of my time, and now I have no access to my periodic statement? Is my statement being unavailable also not a violation of the Truth in Lending Act, 12 CFR 1026.41? At this time, the only resolution I request is my {$190.00} to be returned to me via check. If I could utilize a different servicer, I absolutely would but that is out of my hands at this point as well. I attempted to remove the PMI to save some money, and the time-suck and frustration I have gone through is not acceptable for any consumer. Thank you for your time.

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