Consumer complaint received 2022-03-05 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Problem with a credit reporting company's investigation into an existing problem — Investigation took more than 30 days
Company: Shellpoint Partners, LLC
State: TX

Complaint narrative:
On XX/XX/XXXX my home was damaged in the Texas winter storm so severely, I had to be displaced. I contacted XXXX XXXX informing them of this and requested to be placed in a Forebearance while I awaited on insurance to give me the repair fees and began to repair my home so that it could be livable. I was told that my forbearance would be for 4 months and would not be reported on my credit report as delinquent. In XX/XX/XXXX, while staying at a hotel as I awaited repairs for my home, I caught XXXX and XXXX. I became severely ill and could not finalize repairs in my home or go to work. I contacted XXXX XXXX and requested my forbearance be extended due to COVID. I was told my forbearance would be extended for another 6 months under the CARES act. In XXXX of XXXX, I received noticed that my mortgage was transferred to Shellpoint Mortgage. I assumed that my forbearance was transferred over from XXXX XXXX. In XX/XX/XXXX, I received notification that Shellpoint Mortgage had involuntarily placed me in a 40 year mortgage loan modification, adding nearly 15 more years to my mortgage maturity date. I notified my lost mitigation manager that I did not want to be in a loan modification because I was planning to resolve my debt in full by XX/XX/XXXX. I also explained to my lost mitigation manager that I was in a forbearance until XX/XX/XXXX and needed extra time in forbearance, but I was definitely going to pay my previous debt in full. In XX/XX/XXXX, after being denied a bid bond for a job project, I checked my credit report and noticed Shellpoint Mortgage had reported all the months of my forbearance as delinquent after I was told they would not report them delinquent. I contacted my lost mitigation manager regarding this inaccuracy and she stated there was an error in the system. She stated I needed to contact a seperate division of Shellpoint Mortgage informing them of this and that I had several months left on my forbearance. A check was mailed in the amount of {$12000.00} to Shellpoint Mortgage shortly after that call. I notified the division within Shellpoint Mortgage that I did not want to participate in their involuntarily loan modification, I was in a forbearance so my credit should not have been affected and was being inaccurately reported as delinquent to the credit bureas and that my loan amount would be paid up to date before the end of my forbearance. 

In XX/XX/XXXX, I received notice from Shellpoint mortgage that they were not going to correct the inaccurate information reported on my credit report because their records did not indicate my forbearance through XX/XX/XXXX. Shellpoint did not update my mortgage reflecting the payments they had received for my mortgage. 

Because Shellpoint has decided to punish me for not accepting their involuntarily loan modification and honor my previous forbearance with my previous loan services, my credit score has decreased nearly 100 points making it nearly impossible to obtain a loan to finish repairing my severely damaged home caused by a natural disaster and obtain bid bonds to support my business so that I can get out of financial hardship caused by the Texas winter storm and COVID. Shellpoints refusal to honor my forbearance with XXXX XXXX has prolonged my home displacement and repairs in which their inaccurate credit reporting has made obtaining a loan for home repairs very difficult to achieve.

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