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Complaints
Customer Complaints Summary
- 2,369 total complaints in the last 3 years.
- 860 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:09/07/2023
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have been contacting Shell point since the beginning of July to get my payoff amount and I keep on getting told it will be sent to me in 7 to 10 business days. I still have not received my payoff amount either through the mail or on their website. And because of that they want to continue adding extra fees onto my loan. I just want to pay off my house.Business Response
Date: 09/28/2023
September 20, 2023
***** ******
**** ******
*** ******* *****
******* ** *****
Sent Via Email: ***********************
RE: Complaint ID: ********
Reference #: **********
Account #: ********
Property: *** ******* *** ***
******* ** *****
Dear ***** ****** and **** ******:
This letter is in response to the Better Business Bureau (“BBB”) complaint received on September 7, 2023, regarding the subject
property. Newrez LLC d/b/a Shellpoint Mortgage Servicing is currently the owner of the account number ending in ****. Shellpoint
Mortgage Servicing (“Shellpoint”) began servicing the loan on the behalf of the owner referenced above on or about March 16, 2020.
Please know that Shellpoint takes its customer service and consumer protection obligations very seriously and has significant staff
dedicated to its compliance related functions in order to identify, resolve, and permanently correct operational deficiencies and
improve upon consumer concerns.
Your complaint states you have been contacting Shellpoint since July 2023 requesting a payoff quote for your loan. You were told
you would receive the payoff quote within seven to ten business days. You have not received it by mail or online as of the date of this
communication. You also stated you are accruing additional fees due to not receiving the payoff quote as requested. You are
requesting Shellpoint to supply you with the payoff amount on your loan.
In review of your loan, our records indicate you contacted Shellpoint on June 23, 2023 and spoke with one of our agents. During this
call you requested to make a payment and to receive a payoff statement. You were informed a payoff statement would be sent to you;
however, the agent did not enter the request for a payoff statement to be sent. We sincerely apologize for this processing error.
Per your request, on September 15, 2023, a payoff statement has been mailed to the mailing address on file. We have also included a
copy of the payoff statement for reference.
Upon further review, on June 23, 2023, we received a payment in the amount of $450.00 which was posted to the unapplied funds
account because the loan had matured in December 2021. On August 29, 2023, we removed the payment of $450.00 from unapplied
and reposted it towards the deferred balance with an effective date of June 23, 2023. Currently, the loan has a principal balance in the
amount of $0.01 and deferred principal balance of $360.25.
Regarding your fee concerns, our records show a property inspection fee in the amount of $30.00 was assessed to the loan on June 2,
2023. We have determined the property inspection fee was assessed in error. Therefore, on September 14, 2023, we have removed the
property inspection fee in the amount of $30.00. Enclosed for you to review is a copy of the Loan History Statement reflecting the
removal of the property inspection fee.
As of the date of this letter, the loan has a principal balance in the amount of $0.01 and deferred principal balance in the amount of
$360.25. Please refer to the enclosed payoff statement to pay the loan in full.
KP09192023A
Shellpoint is committed to working with each of our customers to provide the highest level of service possible. We regret your
experience did not meet the level of service we are committed to. Please accept our sincere apologies for any inconvenience and
know your concerns have been brought to the attention of the appropriate people within our organization.
Should you have further questions, you may reach us through our Contact Us page by accessing our website, *********************
and logging into your account. Go to the Help icon at the top right and click on Contact Us from the drop down. You can submit your
email from there and upload any supporting documents. Alternatively, you may contact me directly at ***** ******** Monday
through Friday between the hours of 7:30 a.m. to 4:00 p.m. (EST) or via email at *************************. Additionally, you
may contact our Customer Service Department at ***** *********
Sincerely,
Stanley B*****
Compliance Department
Shellpoint Mortgage ServicingInitial Complaint
Date:09/01/2023
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I had a pipe burst in my rental. Insurance covered it and has sent me a check that I was told by Newrez to send to them. I followed all instructions and sent them the check with the detailed repair estimate. They are supposed to endorse the check and send it back to me so that I can pay the contractors. I hadn't heard anything in 2 weeks so I called and asked what the holdup was. They said that they wanted me to endorse the check and would be sending it back. It took 2 full week and no communication at all from them, I had to call to find out what the hold up was. Now we are sitting at 3 weeks since they received the check and they have not even sent back to me to endorse. Once I get the check, endorse and send back to them, they will need another 5-7 days to process. I am missing over a full month of rental income because they have given me incorrect information several times, have not communicated, or sent me back the check to endorse (AFTER 3 WEEKS!!!).Business Response
Date: 09/19/2023
After reviewing
the insurance claim, our records show the claim check
was not endorsed by you, as required in the procedure packet issued on August
15, 2023. The insurance claim check was returned to you on August 21,
2023, and was received back in our office and applied to the restricted escrow
account on September 18, 2023.
Once all
required documents are received, they are reviewed to ensure everything is
accounted for and the amount of the claim check aligns with the adjuster’s
report and the total claim amount. A check is then issued by our insurance
vendor and pending a final quality check to ensure all information is correct
(such as the date, amount, and who the check is made payable to) the check is
disbursed to either you, the homeowner, or your contractor. This process can
take seven to ten business days to complete.
If you feel
like substantial repairs have been made and would like to schedule this
inspection, need assistance, or have any questions regarding continuing the
repairs on your property, please contact our Loss Draft Department at
*************
The following
items may be required with each draw request:
• Inspection verifying percentage of work complete
• Waiver of lien/sworn statement from the contractor
Please note, if you have opted to
hire or plans to hire a Public Adjuster or retain any other third party to
settle the loss claim, these fees are of sole responsibility of the homeowners
and will not be paid from insurance proceeds.Initial Complaint
Date:09/01/2023
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My mortgage was sold to Newrez. After getting a divorce and my divorce agreement called for me to keep the property that Newrez just acquired. I have contacted their customer service support and requested an assumption of the loan. I got one response that listed the qualifications for assumption which I met. I replied to the email to initiate the process and since then I have not heard anything back. I sent multiple emails to follow up with the request and no response either. I have contacted their customer service support but the agents say the can't help me because they are not trained to handle those types of requests, neither can they transfer me to someone who can. I have I time frame to complete this assumption and Newrez is not facilitating the request.Business Response
Date: 09/19/2023
Records show on
August 7, 2023, our Assumptions Department replied to your email explaining there
are two options to assume your:
If
the borrower(s) are deceased and an heir is assuming the loan on the
property.
If
one of the borrowers is being removed from the loan, as in the case of a
divorce or civil dissolution.
Our Assumptions
Department has clarified, in case of divorce proceedings, a as copy of the
divorce agreement is required. According
to our review, the email was sent to [email protected] and we have not received a response.
To move forward
with the request of the assumption of the loan, the below information must be
provided to our Assumptions Department.
Forms
to Complete:
Assumption Request Form
Uniform Residential Loan Application (if applicable) (enclosed)
HUD/VA Addendum to Uniform Residential Loan Application (if applicable)
IRS Form W-9
Third Party Authorization Form
Borrower’s Certificate and Authorization
Patriot Act Information form with copy of accompanying identification (ex: driver’s license, passport)
Please return
all the forms and the required supporting documentation to Shellpoint/Newrez
within thirty (30) days from the date of the enclosed assumption request letter
via email to ********************** or
by mail at:
Shellpoint Mortgage Servicing
Attn: Doc Curative – Land Transactions
** ******* *****
***** ***
*********** ** *****
Enclosed for
your review are the Assumption Request Letter, Assumption Package, Uniform
Residential Loan Application, W9-Form.Initial Complaint
Date:09/01/2023
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
New Rez recently acquired my mortgage. Everything had transferred as of 8/1. I have created my online account to manage my loan however I am unable to add my loan to my account. I contacted customer service to 8/16, They told me they were not able to help me and that I needed to contact *********************** and explain my issue. Which I did on 8/16. I have follwed up twice with the email and no one has replied to my issue. As of now, I am still unable to access and manage my loan online. I want this rectified immeduately.Business Response
Date: 09/27/2023
September 11, 2023
***** *****
**** ******* *****
********* ** *****
Sent Via Email: ********************
RE: Complaint ID: ********
Reference #: **********
Account #: ********
Property: *** ******** ****
****** ******** ** *****
Dear ***** *****:
This letter is in response to the Better Business Bureau (“BBB”) complaint received on September 1, 2023, regarding the subject
property. Newrez LLC d/b/a Shellpoint Mortgage Servicing is currently the owner of the account number ending in ****. Newrez
LLC (“Newrez”) began servicing the loan on the behalf of the owner referenced above on or about August 1, 2023.
Please know that Newrez takes its customer service and consumer protection obligations very seriously and has significant staff
dedicated to its compliance related functions in order to identify, resolve, and permanently correct operational deficiencies and
improve upon consumer concerns.
Your correspondence states your loan was recently acquired by Newrez LLC on August 1, 2023 and you have been unsuccessful with
adding your loan to your online account. You contacted our Customer Service Department on August 16, 2023, who was unable to
assist and provided you with our Information Technology (“IT”) email address for assistance. You stated you contacted our IT
Department by email but have not been received a reply. You are still unable to gain access to your online account and requesting for
this matter to be resolved immediately.
Upon review of your correspondence, we have requested one of our agents reach out to resolve your concerns with your online
account. On September 11, 2023, our agent attempted to contact you at ************ but left as message as she was not successfully.
Additionally, an email was sent to ****************** advising of our attempt to contact you and assist with logging into your
online account. Newrez confirmed your online account is fully registered with username *********. Our records show your inactive
loan number ending in **** and your current loan number ending in ****.
Our agent also advised, to delete any existing bookmarks saved for our online portal and save the following web address
myaccount.**********. Upon accessing the online portal, you should be able to enter your password. However, if you do not
remember your password, you may request a password reset.
If you are still having website concerns, they may be resolved using the following steps. Please review the below information to
troubleshoot the errors you are encountering on the web portal.
Processing/Flashing Issue Upon Login – Common Causes
• Please disable any Virtual Private Network (VPN) if you have one running on your device.
• If you are using a work computer, some parts of our website may be blocked by your system administrator. Upon login, your
browser redirects between the portal and our user database.
KE09112023A
• Certain antivirus programs such as ****** and ***** *********** have proven to disable parts of our Customer Service
Portal as well. Please add our site “**********” to your whitelist.
• Some ****** or ******* extensions can prevent the portal from redirecting the client. Attempt to access the site in incognito
mode to see if this is the issue.
If you are still experiencing issues after checking the above possible issues, please do the following:
• Clear your cache and cookies within your chosen internet browser.
• Attempt to access the site through another browser or through a freshly installed browser without extensions.
• Attempt to access our site via mobile phone or another personal computer.
If you are still unable to access your online account, please contact Susan M****** at ***** ******** to further discuss your concerns.
As of the date of this communication, the loan is next due for the October 1, 2023 installment of $1,144.35.
Although we apologize for any inconvenience, we have been unable to determine that a servicing error occurred after investigating
your dispute. You have the right to request documentation supporting our determination that no error has occurred in the servicing of
the loan.
Should you have further questions, you may reach us through our Contact Us page by accessing our website, www.********** and
logging into your account. Go to the Help icon at the top right and click on Contact Us from the drop down. You can submit your
email from there and upload any supporting documents. Alternatively, you may contact me directly at (864) 312-4988 Monday
through Friday between the hours of 7:30 a.m. to 4:00 p.m. (EST) or via ***** ** *************************. Additionally, you
may contact our Customer Service Department at ***** *********
Sincerely,
Stanley B*****
Compliance Department
Newrez LLCInitial Complaint
Date:09/01/2023
Type:Customer Service IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Unfortunately newrez took over my mortgage. I have owned this property 17 years never had a problem with a mortgage company on this property. I did have a problem with loancare and I asked for your help to receive illegal late fees back in my broward county property. Newrez took over July 2023
Today I received a letter thanking me for applying to automatic payments. I Never did that. These are their tactics. I am copying local newspapers, the SEC, the governor and my attorney
Your attention to this matter is greatly appreciated
***** *****************Business Response
Date: 09/21/2023
September 11, 2023
***** ** *********
**** **** **** ***
********* ****** ** *****
Sent Via Email: ***********************
RE: Compliant ID #: ********
Reference #: **********
Account #: ********
Property: **** **** **** ***
********* ****** ** *****
Dear ***** ** *********:
This letter is in response to the Better Business Bureau complaint received on September 1, 2023, regarding the subject property.
Newrez LLC d/b/a Shellpoint Mortgage Servicing is currently the owner of the account number ending in ****. Newrez LLC
(“Newrez”) began servicing the loan on the behalf of the owner referenced above on or about July 1, 2023.
Please know that Newrez takes its customer service and consumer protection obligations very seriously and has significant staff
dedicated to its compliance related functions in order to identify, resolve, and permanently correct operational deficiencies and
improve upon consumer concerns.
Your complaint states you received correspondence from Newrez thanking you for applying for automatic payments. You stated you
did not authorize for recurring automatic payments to be withdrawn from your banking account. Therefore, you are requesting
confirmation that this is an error and no payments will be automatically withdrawn from your account.
Upon review of your correspondence, Newrez has been unable to locate any notices advising you are enrolled in our Automatic
Clearing House (“ACH”) plan. Newrez has confirmed you have not been enrolled in a recurring ACH plan.
After an additional review, our records indicate on August 8, 2023, an online ACH payment request was submitted for the August 1,
2023 installment in the amount of $1,077.26 to draft from your bank account on August 13, 2023. As a result, a Payment
Confirmation notice was mailed on August 8, 2023. Please note, this is not a notice of confirmation for an ACH payment plan, but a
confirmation that your payment has been scheduled.
On August 13, 2023, the requested payment of $1,077.26 was drafted of which $777.26 applied to the August 2023 installment and
the remaining balance $300.00 applied towards principal.
As of the date of this communication, the loan is due for the September 1, 2023 installment is due in the amount of $777.26.
Although we apologize for any inconvenience, we have been unable to determine that a servicing error occurred after investigating
your dispute. You have the right to request documentation supporting our determination that no error has occurred in the servicing of
the loan.
Should you have further questions, you may reach us through our Contact Us page by accessing our website, ************** and
logging into your account. Go to the Help icon at the top right and click on Contact Us from the drop down. You can submit your
email from there and upload any supporting documents. Alternatively, you may contact me directly ************ Monday through
KE09112023B
Friday between the hours of 7:30 a.m. to 4 p.m. Eastern Standard Time or via email *************************. You may also
contact our Customer Service Department at ************.
Should you have further questions, you may reach us through our Contact Us page by accessing our website, ***************** and
log into your account. Go to the Help icon at the top right and click on Contact Us from the drop down. You can submit your email
from there and upload any supporting documents.
Sincerely,
Stanley B*****
Compliance Department
Newrez LLCInitial Complaint
Date:08/30/2023
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
This company (Shellpoint) collects and posts the payments for NewRez LLC (home mortgage). Each month for approximately 3.5 years (starting when my mortgage was sold to them) I have sent my payment on the second of each month, payment due by the sixteenth of each month. I send all of the out of state payments on the second of the month, with all the mailed payments on that date being received and posted to my bank account within four days. However over the past year my mortgage payment has gone from clearing within seven days, to 15+ days (sometimes before that, two times recently after that). I called NewRez when this occurred in June. They put responsibility on me, but removed the $30.08 late charge. It has just happened again (August) and I am required to pay the late charge and they again took no accountability for Shellpoint's laziness; "Just sign up for auto-withdraw". Unfortunately, three years ago I did try auto-withdraw and that June they took my mortgage payment out twice in one day. When I called NewRez they responded with an affirmative response, they knew it happened (system wide), but had no solution to right the wrong. I have been a public school teacher for 29 years; I am not paid enough to pay my mortgage twice in one day and then have enough to purchase groceries or pay other bills. If mailing is not a viable option with Shellpoint, then don't offer it. Sell my account to another vendor where the accounting department does a timely job once mail is received. I am going to attempt to make next month's payment online, but it makes me very uneasy that once again, they could charge my account twice in one day and then I am left with the headache of cleaning all of that up (again). I am hopeful you can create change since all payers are pigeon-hold (we cannot sell our mortgage off to a more responsible party). Much thanks!Business Response
Date: 09/21/2023
September 8, 2023
******* ** *****
*** ********* *********
********* ** *****
Sent via email: **********************
RE: BBB Complaint #: ********
Reference #: **********
Account #: ********
Property: *** ********* *****
********* ** *****
Dear ******* ** *****:
This letter is in response to the Better Business Bureau (“BBB”) complaint received on August 31, 2023, and correspondence
received on August 29, 2023, regarding the subject property. Newrez LLC d/b/a Shellpoint Mortgage Servicing is currently the owner
of the account number ending in ****. Newrez LLC (“Newrez”) began servicing the loan on the behalf of the owner referenced
above on or about September 21, 2019.
Please know that Newrez takes its customer service and consumer protection obligations very seriously and has significant staff
dedicated to its compliance related functions in order to identify, resolve, and permanently correct operational deficiencies and
improve upon consumer concerns.
Your complaint states you sent your monthly mortgage payments by mail for the past three and a half years on the 2nd of each month,
but in 2023 you have experienced delays in the processing your payments. You called Newrez in June 2023 to have the $30.08 late
charge removed, which we did. In August 2023 you were assessed another late charge which you are disputing. You also indicated
the reason you send your mortgage payments by mail was because we drafted two recurring payments three (3) years ago in the same
month and do not wish to have this occur again. You are asking for us to waive the August 2023 late charge.
The due date for the loan is the 1st day of each month. If a payment is not received in full by the 1st day of the month, the loan will be
past due. If a payment is not received in full by the end of 15 days after the due date, a late charge may be assessed.
Our records indicate, on April 19, 2023, the payment in the amount of $1,010.08 was received and applied to the April 1, 2023
installment. The late charge of $30.08 assessed on April 17, 2023 is valid and we notified you of the past due status on April 18,
2023. However, we extended a one-time courtesy to you and waived the late charge of $30.08 on April 27, 2023.
On August 17, 2023, we received your payment of $1,010.08 and applied it to the August 1, 2023 installment. The late charge for
$30.08 assessed on August 17, 2023 is valid since we did not receive your installment due by the 16th of the month. However, to
amicably resolve the issue, on September 8, 2023, we have submitted a request to waive the late charge of $30.08. Please allow 3 to 5
business days for the request to be completed.
Per your loan history, we drafted two payments for $949.00 each on July 12, 2020 in error. You alerted us of this error on July 14,
2020, and we promptly reversed one of the payments and issued a refund check on July 14, 2020 for $949.00 payable to you. While
we do apologize for this inconvenience, we do believe we have options to enable you to make your monthly mortgage payments.
Newrez offers several options to make a payment. Payments may be remitted via mail, by phone, online (availability determined by
account status) or via our automatic payment program.
KP09082023C
Our monthly automatic payment program is automatically debited on the date that you select. The date selected cannot extend past
the late charge date. The debit will occur on the first business day after the date selected if the date selected falls on a weekend or a
holiday. This option is only available on current accounts. Enclosed is a copy of the Automated Clearing House (“ACH”) Form.
You can now transfer funds electronically through many online banking services. If your bank does not have Newrez available for
electronic transfer, you may still be able to electronically schedule your payment using your bank’s online BillPay service and they
will mail a check on your behalf. Please understand, bill-pay payments do not transmit instructions to us. Payments by mail or
through your bank should be addressed to:
Newrez LLC
**** *** ******
******* ** **********
Payments may be made through our Interactive Voice Response (“IVR”) system or by calling our Customer Service department and
speaking with a live representative, at *************
You can also access your account online at **************. Features of our web portal include viewing billing statements,
enrolling in paperless billing, viewing annual IRS tax forms, viewing your property tax information, or transmitting documents to
apply for mortgage assistance with our Loss Mitigation department. Please note, when making payments on the web portal, all
installments due are pre-selected for payment and you must unselect any payment you do not wish to be drafted from your bank
account.
When remitting mailed payments, please note payments may be machine-read. Therefore, correspondence enclosed with payments,
notations on payment coupons, lines drawn across multiple fields on payment coupons, or other markup may not be understood when
scanned. To ensure your payment is correctly applied, please enclose the payment coupon provided with your monthly mortgage
statements when remitting payments by mail. You may also choose to write your loan number and any posting instructions (e.g.,
“escrow payment”) directly on a mailed check, in the event it becomes separated from any enclosure. Please note our Cash
Operations department is not equipped to review or answer correspondence submitted with payments.
Please note, checks mailed to our office are processed by an automatic scanner and it did not capture instructions written on the
checks. However, the payment coupon that we provide to enclose with your check does have fields for posting instructions that our
scanned is programmed to read.
Newrez encourages our customer to send the payment coupon that arrives with your monthly statement to ensure payments are posted
as desired. If no posting instructions are given for the posting of funds provided, those funds will be posted per our advanced payment
posting guideline, which posts partial payments on current loans to fees, and then the principal balance. If the overpaid amount is
more than the normal monthly installment, without posting instructions these funds may be applied to the next monthly installment.
Newrez acknowledges the difficulties you have faced in sending your monthly payments through the standard mail. Please note,
Newrez has no control over how long the United States Postal Service (“USPS”) may take in the delivery of your payments. Please be
aware, Newrez processes payments the same day they are received.
As of the date of this letter, your loan is due for the October 1, 2023 installment in the amount of $977.18. We have enclosed a copy
of the Loan History Statement for your review.
Newrez has determined there have been no errors in the servicing of the loan. You have the right to request documentation supporting
this determination.
Should you have further questions, you may reach us through our Contact Us page by accessing our website, ************** and
logging into your account. Go to the Help icon at the top right and click on Contact Us from the drop down. You can submit your
email from there and upload any supporting documents. Alternatively, you may contact me directly at ************ Monday through
Friday between the hours of 8:30 a.m. to 5:30 p.m. ET or via email at ************************ for any questions regarding this
response. You may also contact our Customer Service Department at *************
Sincerely,
Kenneth D****
Compliance DepartmentInitial Complaint
Date:08/28/2023
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
My home owners insurance is paid through my mortgage. I received a letter from my insurance company saying my home owners insurance isn't being paid. Progressive has tried to contact newrez and they haven't done anything. Newrez is impossible to get a hold of anyone to talk to.Business Response
Date: 09/07/2023
Your complaint states your homeowner’s
insurance policy is paid through your escrow account and you recently received
a notice from your carrier that the insurance has not been paid. Progressive
has attempted to get in contact with Newrez but have not been successful and a
payment has not been disbursed. You are requesting the payment be
disbursed.
Our records indicate, your prior servicing company,
******* **** *****, disbursed a payment in the amount of $1,145.00 on October
10, 2022 to American Strategic Insurance (“ASI”) Select. The payment was for
the policy term effective November 4, 2022 to November 4, 2023; therefore, a
payment was not due when the loan was acquired by Newrez on November 2, 2022.
On August 29, 2023, our Insurance Department confirmed
with your carrier that an additional payment of $220.00 was due to avoid
cancellation. Per the enclosed loan history statement, on August 30, 2023, a
payment was disbursed to ASI Select.
Please note, we do not have a record of your insurance
carrier contacting Newrez by phone or mail requesting payment to avoid
cancellation of the policy.
As of the date of this correspondence, the loan is next
due for the October 1, 2023 installment for $1,034.88.
Although Newrez apologizes for
any inconvenience, we have been unable to determine that an error occurred
after investigating your dispute. You have the right to request documentation
supporting our determination.Initial Complaint
Date:08/25/2023
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
NEWREZ Mortgage Lender Recently allowed the mailing address to be changed without proper authorization from both parties. My Ex-wife and I are listed on the account. She decided to call the mortgage lender and to get the refund check distributed to a changed address. She has collected the check and will not distribute half of it to me as stated in the marital settlement agreement. The problem lies in the lender failing to notify me via text or email, an equal account holder on the same property that an update was made to our accountt. Now I may have to pay attorney fees in order to get what is owed to me in this reimbursement. Every lender I've dealt with always notifies both parties of an account change via sms text or email to prevent fraud. The representive I spoke to today (during a disagreement) stated, " how do I even know you are who you say you are?" Which only demonstrates to me that their security process is heavily flawed. Anyone can go through a battery of questions.over the telephone and answer correctly, it's called IDENTITY THEFT. Then I ask Newrez supervisor to find out if the check was signed with my signature (forgery) and he tells me I have to wait 3 days. I explain to him that multiple checks may be in process of being mailed and money loss but he disnt seem to care that possible forgery of my name is at the forefront. This is a terrible lender to have spent 100s of thousands of dollars and them to just easily change an important thing like a mailing address for a person to receive a check. I deserve a better explanation than personnel saying I would only be notified if changes are made online but not over the telephone.Business Response
Date: 09/07/2023
According to
privacy laws, Newrez can only release
information regarding the loan to the mortgagor(s), mortgagor’s authorized
representative, or executor/executrix of an estate. Please
note, there is a new authorization process through our Interactive Voice
Response (“IVR”) system. Without proper authentication, the call cannot be
transferred to our Customer Service Department. Hence, the only way a
representative will disclose information to a party regarding the loan if the
account has been fully verified. Please know, once the verification process has
been completed via our IVR, the service representative will still request the
party contacting our offices to validate their identity.
Although proper steps are taken to ensure we are speaking to
the correct party by verifying personal information, such as the last four of
the Social Security and other identifying pieces of information. Please be
aware, if all validating information is successfully provided than any
organization must operate on good faith that the individual they are speaking
with is who they purport to be.
Please
understand, Ms. ***** ** ***, as the co-borrower, has the right to update the
account information, as she is listed as a borrower on the Note. Please note,
although divorce proceedings may state funds are to be divided in half, divorce
documents do not change the names on the Note, the rights under the contractual
agreement, nor do they release a party from the contractual agreement.
Therefore, a request to update the mailing address must be honored by any of
the parties listed on the contractual agreement. We regret that our service did
not meet your level of satisfaction.
After the
receipt of your complaint, we were able to obtain a copy of the cancelled
escrow refund check number *******, which was only signed by ***** ***. Hence,
this will not be considered forgery as your signature was not present. Since
the check was issued to ****** * *** and ***** * ***, the banking institution should
have required both endorsements prior to processing the check.
Please be aware,
you may file an Affidavit of Missing Endorsement and we can file such document
with our vendor, ********. Enclosed for your review is a copy of the affidavit,
which we suggest you select improper/missing endorsement option when filling
out the form.
This loan was
paid in full effective June 8, 2023.
Although Newrez apologizes for any inconvenience, we have
been unable to determine that an error occurred after investigating your
dispute. You have the right to request documentation supporting our
determination.Initial Complaint
Date:08/25/2023
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Newrez LLC is garbage. Most times, I am unable to signin to the website to review my account due to no SMS code being sent. I also am unable to make principal payments on my loan! I have opened support ticket and multiple phone calls, but remain unable to make principal payments in addition to my normal monthly payment. This is a SCAM!Business Response
Date: 09/21/2023
September 6, 2023
******* ********
******** ********
*** ********** ****
******** ** *****
Sent via email: ********************
RE: BBB Complaint #: ********
Reference #: **********
Account #: ********
Property: *** ********** ****
******** ** *****
Dear ******* ******** and ******** ********:
This letter is in response to the Better Business Bureau complaint received on August 28, 2023, regarding the subject property.
Newrez LLC d/b/a Shellpoint Mortgage Servicing is currently the owner of the account number ending in ****. Newrez LLC
(“Newrez”) began servicing the loan on the behalf of the owner referenced above on or about October 20, 2020.
Please know that Newrez takes its customer service and consumer protection obligations very seriously and has significant staff
dedicated to its compliance related functions in order to identify, resolve, and permanently correct operational deficiencies and
improve upon consumer concerns.
Your complaint states you are not able to sign on to our website to review your account because you did not receive an authorization
code. You also indicated you are unable to make principal payments on your loan, as well as regular payments, online even though
you opened up a support help request and made multiple calls to Newrez. You are asking for help with your online access and to be
able to make principal and regular monthly payments.
In review of your loan, Newrez has not been able to determine any errors with our Customer Service Portal. We determined your
recent login occurred on August 25, 2023 using username **********. However, Newrez has noticed you may have received an error
due to recent security upgrades, effective June 6, 2023, which added Multi-Factor Authentication (“MFA”) to your account. We have
reset this segment of your online account which should enable you to access your account online. Once the MFA is completed,
Newrez believes you should not have issues logging into the Customer Service Portal.
You may use your computer, tablet, or phone to visit our website at **************. If you have not already done so, select the
Setup Your Account option from the Tools menu and create an account with us. After you have set up your account, you can make
payments, view and print statements, get answers to common questions, chat with a live representative, and more. For assistance with
creating an online account or access issues with the web portal, we request that you contact our Customer Service Department via
telephone at ***** ********.
If you are still experiencing accessing the online portal, Newrez believe your concerns may be resolved using the following steps.
Please review the below information to troubleshoot the errors you are encountering on the web portal.
Processing/Flashing Issue Upon Login – Common Causes
• Please disable any Virtual Private Network (“VPN”) if you have one running on your device.
• If you are using a work computer, some parts of our website may be blocked by your system administrator. Upon login,
KP09062023A
your browser redirects between the portal and our user database.
• Certain antivirus programs such as ****** and ***** *********** have proven to disable parts of our Customer Service
Portal as well. Please add our site "**********” to your whitelist.
• Some ****** or ******* extensions can prevent the portal from redirecting the client. Attempt to access the site in
incognito mode to see if this is the issue.
If you are still experiencing issues after checking the above possible issues, please do the following:
• Clear your cache and cookies within your chosen internet browser.
• Attempt to access the site through another browser or through a freshly installed browser without extensions.
• Attempt to access our site via mobile phone or another personal computer.
Newrez offers several options in which you may make an additional payment to principal, late fee and escrow accounts. Payments
may be remitted via mail with the statement coupon attached or by phone. Payments can be made through our Interactive Voice
Recognition ("IVR") system or by calling our Customer Service department and speaking with a live representative, at *************
Payments by mail or through your bank should be addressed to:
Newrez LLC
**** *** ******
******* ** **********
If the loan is current in payments, other amounts may also be paid on our web portal, such as late charges, Principal only, and Escrow
Only payments. However, if the current month’s payment has not been made yet, these options will not be available. These options
will only be available while making your current month’s payment, or after the current month’s payment is posted. Therefore, if your
loan is set up in our automated payment program (“ACH”), the current’s month payment must be paid first prior to making additional
principal or escrow payments. Once the current month’s payment is drafted from your bank account, the option for additional
curtailments will be available in our customer web payment portal.
As of the date of this letter, your loan is due for the October 1, 2023 installment in the amount of $3,044.41. We have enclosed the
Loan History Statement for your review.
Although Newrez apologizes for any inconvenience, we have been unable to determine that an error occurred after investigating your
dispute. You have the right to request documentation supporting our determination.
Should you have further questions, you may reach us through our Contact Us page by accessing our website, ************** and
logging into your account. Go to the Help icon at the top right and click on Contact Us from the drop down. You can submit your
email from there and upload any supporting documents. Alternatively, you may contact me directly at ************ Monday through
Friday between the hours of 8:30 a.m. to 5:30 p.m. ET or via email at *************@********** for any questions regarding this
response. You may also contact our Customer Service Department at *************
Sincerely,
Kenneth D****
Compliance Department
Newrez LLCInitial Complaint
Date:08/24/2023
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have complained about the unfair practices and fraud issues I have had with this company. I would like this looked into please,I will be contacted the fcc,HUD and whoever I can to stop these people. The tax company stated there was no increase in my taxes as stated by the letter this company sent me. Then asked for the PMI in writing as stated and they have now refused stated a late. Stated in the past yr (1) late by Peggy Smith. Then supervisor Jaonne E**** stated a discrepancy and stated to call back. Please help with a investigation in this comapnyBusiness Response
Date: 08/31/2023
Regarding your request to remove
the PMI from your loan, your PMI will automatically terminate when the Loan to
Value (“LTV”) ratio reaches 78% of the “original value” of the residence, which
will occur in February 2042. The automatic termination date is based solely on
the original amortization of the loan and when your loan is scheduled to reach
the required percentage, additional payments made towards your principal
balance does not change this date. Loan records show, the LTV is currently at
108%, which is too high to have the PMI removed from this loan at this time and
makes the loan not eligible for the removal under the guidelines set under the
Homeowner’s Protection Act (“HPA”).
Please know, a borrower may
initiate cancellation of PMI coverage by submitting a written request to the
servicer. For a borrower who has initiated cancellation HPA provides that if
the borrower meets certain requirements, then PMI shall be cancelled on the
date when the principal balance reaches 80% of the original value. The other
requirements for “borrower-initiated” cancellation are:
The borrower must have a good payment
history.
The borrower must be current on the
loan.
The borrower must satisfy any
requirement of the holder of the mortgage for certification showing the
borrower’s equity in the property is not subject to a subordinate lien.
Finally, the borrower must satisfy any
requirement of the holder of the mortgage for evidence showing the value
of the property has not declined below the original value.
If
your loan does not qualify for cancellation per the HPA, you may still choose
to be evaluated for PMI cancellation based upon the requirements set forth by
the investor of your loan. This option may require an LTV of 60–75%.
Upon
review of your loan, we are unable to comply with your request to remove the
PMI from your loan, as this loan has been more than 60 days past due in the
last 24 months. Please understand, for the loan to qualify all requirements for
the PMI
removal must be met, which includes the
loan having a good payment history.
Regarding the escrow account and the amount listed for the
property taxes, please note, escrow payments are not fixed payment amounts and
will fluctuate depending upon increases or decreases to your property tax and
hazard insurance payment amounts. The escrow payment amount may change with
each annual escrow analysis completed for the loan, as the unadjusted monthly
escrow payment is calculated based on what is anticipated to be paid for the
coming year by utilizing the previous year’s disbursements of the items due
under the escrow account.
Please keep in mind, Shellpoint
does not determine the amount due for the escrowed items, such premiums are
determined by your homeowner’s insurance carrier and the taxing authority in
which the property is located. Shellpoint as the loan servicer is required to
disburse payment once notice is received, unless indicated otherwise in
writing. Nonetheless, as mentioned above, Shellpoint is required to ensured
that all property taxes are paid current and that the property has adequate
hazard insurance coverage.
Shellpoint must collect sufficient funds per month to have
enough to pay the anticipated amounts when they are due. Additionally, Shellpoint
is not able to overfund the escrow account, we are allowed to collect only
sufficient funds to pay the escrow items, and a cushion of 1/6 of the total
escrow amount. A new escrow analysis was completed on May 25, 2023, which
calculated an escrow shortage of $4,951.46. The escrow shortage was spread over
48 months at the cost of $103.16 a month. Please note, typically, an escrow
shortage is spread over a period of 12 months.
Consequently, the monthly installment
was adjusted from $2,748.29 to $2,796.81, effective with the July 1, 2023
monthly installment. Please be advised, the cushion amount is equal to two base
escrow payments, in which the monthly base escrow payment is $1,029.82;
therefore, $2,059.64 is the lowest point the escrow balance should be in the
coming year. The required beginning balance should have been $3,208.09;
however, the anticipated beginning escrow balance was negative $1,743.37, which
resulted in the escrow shortage of $4,951.46. As noted on your escrow analysis,
paying the shortage does not guarantee that your payment will remain the same
as it was previously.
Loan records confirmed the
increase of the monthly payment was caused due to an increase of both your
hazard insurance premium from $1,457.00 to $1,724.00 and the property tax
amount due from $7,730.14 to $7,900.24. Please note that a shortage occurs when
the projected balance is less than the required balance. The escrow account is
short in meeting the cushion requirement at the lowest point in the projected
analysis. The servicer may add an amount to maintain a cushion no greater than
one-sixth of the estimated total annual payments from the escrow account.
Enclosed for your review are
copies of the escrow analysis completed on May 10, 2022 and May 25, 2023, for
your review confirming the changes in the escrow account.
Although Shellpoint apologizes for
any inconvenience, we have been unable to determine that an error occurred
after investigating your dispute. You have the right to request documentation
supporting our determination.
Shellpoint Mortgage Servicing is BBB Accredited.
This business has committed to upholding the BBB Standards for Trust.
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