Consumer complaint received 2025-12-29 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Private mortgage insurance (PMI)
Company: Shellpoint Partners, LLC
State: MN

Complaint narrative:
I am submitting this complaint regarding my mortgage servicer, Newrez LLC, for its prolonged and unreasonable failure to process my request for removal of Private Mortgage Insurance ( PMI ), despite my compliance with all requested requirements and despite multiple written acknowledgments by Newrez confirming receipt of my documentation and appraisal fee. 

Borrower ( s ) : XXXXXXXX XXXX XXXX XXXX Servicer : Newrez LLC Property Address : Loan Number : I initially requested PMI removal in XX/XX/year>, based on improvements made to the property and anticipated loan-to-value eligibility. As part of this process, and at Newrezs direction, I provided a detailed list of property improvements and submitted a {$150.00} appraisal/XXXX  fee. 

Despite this, Newrez failed to timely act on my request. Over the ensuing months, I followed up multiple times due to the absence of any scheduled appraisal or written determination. 

On XX/XX/year>, Newrez issued a written response acknowledging : Receipt of the {$150.00} XXXX  fee on XX/XX/year>, and Receipt of my signed PMI removal form and list of improvements on XX/XX/year>, Stating that the request had been submitted to its Mortgage Insurance Department and advising that processing could take up to 30 business days. 

Subsequently, on XX/XX/year>, Newrez issued another letter confirming again that it had received the list of improvements and the appraisal fee, yet stating that the PMI cancellation request remains under review, without providing a decision, appraisal date, or explanation for the continued delay. 

As of the date of this complaint : No appraisal has been scheduled or completed, despite payment of the required fee. 

No written approval or denial of PMI removal has been issued. 

PMI continues to be assessed on my account. 

The request has been pending for many months, far exceeding reasonable servicing timelines. 

Newrezs repeated acknowledgments without action demonstrate a failure to properly process my request and a breakdown in mortgage servicing obligations. The continued delay has caused ongoing financial harm, including unnecessary PMI charges and the unresolved use of my paid appraisal fee. 

I believe Newrezs conduct is inconsistent with the Homeowners Protection Act ( HPA ) and federal mortgage servicing standards requiring timely, accurate, and responsive handling of borrower requests. 

Requested Resolution : Immediate scheduling and completion of the appraisal ( or written confirmation that it is no longer required ). 

Prompt written determination of PMI eligibility and removal. 

Retroactive termination of PMI effective as of the date eligibility was met. 

Refund or credit of any PMI premiums improperly charged after eligibility. 

Refund of the {$150.00} appraisal/XXXX  fee if the appraisal is not completed. 

Copies of Newrezs correspondence dated XX/XX/year> and XX/XX/year>, as well as recent mortgage statements showing continued PMI charges, are available and can be provided upon request. 

Thank you for your assistance. I respectfully request the CFPBs intervention to ensure timely resolution and compliance with federal consumer protection requirements. 

Sincerely, XXXX XXXX

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