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Business Profile

Loan Servicing

Shellpoint Mortgage Servicing

This business has 2 alerts

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 Complaint

The 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.

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Complaint status

Complaint type

  • Initial Complaint

    Date:09/07/2023

    Type:Billing Issues
    Status:
    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 Servicing
  • Initial Complaint

    Date:09/01/2023

    Type:Service or Repair Issues
    Status:
    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 Issues
    Status:
    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 Issues
    Status:
    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 LLC
  • Initial Complaint

    Date:09/01/2023

    Type:Customer Service Issues
    Status:
    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 LLC
  • Initial Complaint

    Date:08/30/2023

    Type:Billing Issues
    Status:
    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 Department
  • Initial Complaint

    Date:08/28/2023

    Type:Billing Issues
    Status:
    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 Issues
    Status:
    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 Issues
    Status:
    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 LLC
  • Initial Complaint

    Date:08/24/2023

    Type:Billing Issues
    Status:
    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 comapny

    Business 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.

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