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Complaints
Customer Complaints Summary
- 2,371 total complaints in the last 3 years.
- 859 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:08/14/2023
Type: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.
We have tried for over a year to get NewRez LLC to schedule an appraisal of our property so that we can drop the Private Mortgage Insurance (PMI). They refuse to respond to each request in a timely manner and are dragging their feet so that they can keep collecting the mortgage insurance or frustrate us to the point that we will refinance for a much more expensive rate. We have provided the documentation they requested. I can never get the responsible department on the phone. And when I do call, it puts me on hold forever or sends me to a phone loop. But as soon as I requested a payoff statement online, they called right away. I told that person my complaints, but he was in sales and naturally transferred me to someone else. They refuse to fulfill their responsibilities and it's costing us thousands.
Business Response
Date: 08/24/2023
According to our records, we have
not received written authorization from the homeowner to be able to disclose
account information to *** *****. Therefore, we are unable to comply with your
request to provide additional details regarding the status of the loan until
proper authorization is received in our office. It should also include what
information we are allowed to disclose to you. The homeowner may send the
required signed written authorization to the following mailing address or via
fax to:
Newrez
LLC
**** *** *****
*********** ** *****
**** ************Initial Complaint
Date:08/14/2023
Type: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 talked to numerous people via phone, my mortgage was in forbearance, and I had a serious medical emergency however I have a late payment reporting for April & May 2023, and all I'm being told is to dispute it which I have done, and the same information keeps being verified and updated.Business Response
Date: 08/29/2023
Saturday 8:00AM-3:00PM
August 22, 2023
******** ******** ******
****** ****** ******
**** ** *** *****
********** ** *****
Sent Via Email: *************************
RE: Complaint ID #: ********
Reference #: **********
Account #: ********
Property: **** ** *** *****
********** ** *****
Dear ******** ******** ****** and ****** ****** ******:
This letter is in response to the Better Business Bureau complaint received on August 14, 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 November 02,
2022.
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 were in a Forbearance Plan, and during that time, you had a serious medical emergency. You also stated
late payments reporting for April and May 2023 installments which you were advised to dispute, but the same information is being
verified and updated. You are requesting for the late payments to be removed from your credit report.
Upon review of your loan, the loan was placed in a COVID-19 Forbearance Plan from April 1, 2022 through March 1, 2023. The
Forbearance Plan ended on March 31, 2023. During the forbearance plan, your contractual payments were temporarily suspended
during the forbearance period. In addition, no late charges were assessed during the forbearance period and the loan was reported as
current to the Consumer Reporting Agencies (“CRAs”) during the accommodation period.
When the forbearance plan ended on March 31, 2023, the loan was still delinquent as you did not reinstate the loan or complete
another workout solution to bring the loan current prior to the expiration of the forbearance plan. Shellpoint is following the
guidelines for post accommodation reporting. If the loan is still past due the month after completing the forbearance, the loan is
reported with the lowest level of delinquency, 30 to 59 days past due. If the loan is still delinquent the following month, the next
level of delinquency is reported at 60 to 89 days past due. This “step-up” continues each month the loan is delinquent until the true
level of delinquency is reached, or the loan is brought current.
On May 17, 2023, Shellpoint offered you a Standalone Partial Claim to bring the loan current and due for the July 1, 2023
installment. The purpose of the partial claim is to bring your account current. The approved partial claim amount included the total
amount due during your forbearance period of April 1, 2022 through March 31, 2023 as well as the April 1, 2023 through June 1,
2023 installments.
As mentioned above, Shellpoint followed guidelines for post accommodation reporting since the loan was past due when your
forbearance plan ended. The loan was reported 30 to 59 days past due for the month of April 2023, which is the lowest level of
KE08242023B
delinquency and 60 to 89 days past due for the month of May 2023. The loan was brought current by the Standalone Partial Claim on
June 5, 2023 and the loan as current for the month of June 2023.
The information submitted to the CRA’s was sent in compliance with the Fair Credit Reporting Act. While the loan was past due,
Shellpoint submitted information to the CRA’s reporting it as such. Shellpoint is obligated to furnish the CRA’s with accurate
information and will not remove the reported delinquencies.
As of the date of this communication, your loan is past due for the August 1, 2023 installment in the amount of $1,649.88.
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. If you have any additional questions or concerns, please contact our
Customer Service Department at ************. Alternatively, you may contact me at ************* Monday through Friday
between the hours of 7:30 a.m. to 4:00 p.m. (EST).
Sincerely,
Stanley B*****
Compliance Department
Shellpoint Mortgage ServicingInitial Complaint
Date:08/11/2023
Type: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 payment increased without notice on my 8-1-23 statement by $700.00. There is no way that I can make that payment. I am taking money out of 2 paychecks 8-11-23 & 8-25-23 to make the payment. I called 3x and was told by Jennifer, Myra and another lady I didn't get her name that if I didn't make the payments my home would go into foreclosure. The 3rd time I called I was told that they would "request" a 60 month spread out of the $3,000 deficit. Customer service was EXTREMELY rude to me and when I asked if they cared she told me "personal feelings didn't get involved". I asked if she cared about me as a customer. She said yes but that there was nothing more they could do. I feel this is outrageous when I spent so much to live in this house. i put my life savings into this house - $50,000. I have a full time job. I make $55,000 a year. I am able to make my normal payment of $1,039.00. But this company has increased my payment to where I cannot make it. I want a 60 month spread for the repayment of the escrow.Business Response
Date: 08/29/2023
Saturday 8:00AM-3:00PM
August 21, 2023
***** *******
*** ******* **** ****
******** ** *****
Sent via email: ******************
RE: BBB Complaint #: ********
Reference #: **********
Account #: ********
Property: *** ******* **** ****
******** ** *****
Dear ***** *******:
This letter is in response to the Better Business Bureau complaint received on August 11, 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 May 18, 2021.
Please know that Newrez takes its customer service and consumer protection obligations very seriously and has significant
staff dedicated to its compliance related functions to identify, resolve, and permanently correct operational deficiencies and
improve upon consumer concerns.
Your complaint states your mortgage payments increased without notice based on your August 1, 2023 statement and you are
not able to make the increased payment. You spoke with our Customer Service agents three times and were told if you did not
make the payment, you risk going into foreclosure. During the third phone conversation you were told you could request a
sixty (60) month spread of the deficit. You are requesting a 60-month spread to repay the escrow.
Our records indicate the loan originated in April 2021 with an escrow account to include property taxes, hazard insurance, and
mortgage insurance. On April 28, 2022, Newrez completed an annual escrow analysis based on the anticipated monthly
Federal Housing Administration (“FHA”) mortgage insurance of $125.45 each, hazard insurance premium of $914, and a
county tax installment of $1.00 (totaling $2,420.40 for the yearly bills). The required starting escrow balance at the time of the
analysis was $228.75, and the actual escrow balance at that time was $3,497.29; therefore, an escrow surplus of $3,268.54
was issued. The monthly payment amount updated from $1,305.70 to $1,042.62 effective with the payment due June 1, 2022.
On June 8, 2022, Newrez completed an updated escrow analysis and the monthly installments updated to $1,039.61 effective
for the August 1, 2022 installment.
The tax payment information in our system is an anticipated amount based on amounts paid from the prior year. Newrez is
notified through a report called a Tax Assessment Roll (“TAR”) of the total amount of taxes due for each installment. Upon
receipt of the TAR for upcoming installments, the tax amount is updated in our system and paid for the correct amount due.
KE08212023A
On August 11, 2023, Newrez completed an escrow analysis and the new monthly payment amount was increased from
$1,039.61 to $1,391.76 effective with the August 1, 2023 installment. The escrow account is analyzed by considering the total
amount of the anticipated payments from escrow over the next 12-month period and spreading them over 12 months to
determine the “base” escrow amount. The anticipated disbursements are typically based of the previous year’s disbursements
and were calculated as follows
Anticipated Escrow Disbursements:
County Taxes: $3,265.73
Hazard Insurance: $982.00
FHA Mortgage Insurance: $1,322.31
Total Anticipated Escrow Disbursements: $5,570.04
Base Escrow Payment Calculation: $5,570.04 / 12 = $464.17
Any potential adjustments due to increases or decreases with your taxes and insurance may affect your monthly escrow
payment amount. If your escrow payment increases, your monthly payment will also increase. If the escrow payment
decreases, your mortgage payment will decrease. In review of your loan, we begin receiving your tax bill in 2022.
Additionally, the tax bill now includes the city and county property taxes in one installment which increased the taxes due.
The updated tax bill received increased the County Taxes to $3,265.73.
The required starting escrow balance should have been $2,133.68, but the anticipated escrow account balance is -$3,066.37;
therefore, the analysis calculated an escrow shortage of $5,200.05. The escrow shortage was scheduled for collection over a
period of sixty months at a cost of $86.67 per month. We cannot spread your anticipated escrow payments beyond the 12-
month period, but we were able to spread your escrow shortage over a 60-month period to alleviate your financial concerns.
The new monthly mortgage installment in the amount of $1,391.76, effective August 1, 2023, is calculated as follows:
• Principal and interest of $840.92
• Base escrow payment of $464.17
• Escrow shortage payment of $86.67
As of the date of this letter, your loan is past due for August 1, 2023 in the amount of $1,391.76. We have enclosed a copy of
the Loan History Statement for your review.
Newrez is committed to working with each of our customers to provide the highest level of service possible. We sincerely
apologize if your experience did not meet the level of service we are committed to. However, 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
Newrez LLCBusiness Response
Date: 08/29/2023
Saturday 8:00AM-3:00PM
August 21, 2023
***** *******
*** ******* **** ****
******** ** *****
Sent via email: ******************
RE: BBB Complaint #: ********
Reference #: **********
Account #: ********
Property: *** ******* **** ****
******** ** *****
Dear ***** *******:
This letter is in response to the Better Business Bureau complaint received on August 11, 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 May 18, 2021.
Please know that Newrez takes its customer service and consumer protection obligations very seriously and has significant
staff dedicated to its compliance related functions to identify, resolve, and permanently correct operational deficiencies and
improve upon consumer concerns.
Your complaint states your mortgage payments increased without notice based on your August 1, 2023 statement and you are
not able to make the increased payment. You spoke with our Customer Service agents three times and were told if you did not
make the payment, you risk going into foreclosure. During the third phone conversation you were told you could request a
sixty (60) month spread of the deficit. You are requesting a 60-month spread to repay the escrow.
Our records indicate the loan originated in April 2021 with an escrow account to include property taxes, hazard insurance, and
mortgage insurance. On April 28, 2022, Newrez completed an annual escrow analysis based on the anticipated monthly
Federal Housing Administration (“FHA”) mortgage insurance of $125.45 each, hazard insurance premium of $914, and a
county tax installment of $1.00 (totaling $2,420.40 for the yearly bills). The required starting escrow balance at the time of the
analysis was $228.75, and the actual escrow balance at that time was $3,497.29; therefore, an escrow surplus of $3,268.54
was issued. The monthly payment amount updated from $1,305.70 to $1,042.62 effective with the payment due June 1, 2022.
On June 8, 2022, Newrez completed an updated escrow analysis and the monthly installments updated to $1,039.61 effective
for the August 1, 2022 installment.
The tax payment information in our system is an anticipated amount based on amounts paid from the prior year. Newrez is
notified through a report called a Tax Assessment Roll (“TAR”) of the total amount of taxes due for each installment. Upon
receipt of the TAR for upcoming installments, the tax amount is updated in our system and paid for the correct amount due.
KE08212023A
On August 11, 2023, Newrez completed an escrow analysis and the new monthly payment amount was increased from
$1,039.61 to $1,391.76 effective with the August 1, 2023 installment. The escrow account is analyzed by considering the total
amount of the anticipated payments from escrow over the next 12-month period and spreading them over 12 months to
determine the “base” escrow amount. The anticipated disbursements are typically based of the previous year’s disbursements
and were calculated as follows
Anticipated Escrow Disbursements:
County Taxes: $3,265.73
Hazard Insurance: $982.00
FHA Mortgage Insurance: $1,322.31
Total Anticipated Escrow Disbursements: $5,570.04
Base Escrow Payment Calculation: $5,570.04 / 12 = $464.17
Any potential adjustments due to increases or decreases with your taxes and insurance may affect your monthly escrow
payment amount. If your escrow payment increases, your monthly payment will also increase. If the escrow payment
decreases, your mortgage payment will decrease. In review of your loan, we begin receiving your tax bill in 2022.
Additionally, the tax bill now includes the city and county property taxes in one installment which increased the taxes due.
The updated tax bill received increased the County Taxes to $3,265.73.
The required starting escrow balance should have been $2,133.68, but the anticipated escrow account balance is -$3,066.37;
therefore, the analysis calculated an escrow shortage of $5,200.05. The escrow shortage was scheduled for collection over a
period of sixty months at a cost of $86.67 per month. We cannot spread your anticipated escrow payments beyond the 12-
month period, but we were able to spread your escrow shortage over a 60-month period to alleviate your financial concerns.
The new monthly mortgage installment in the amount of $1,391.76, effective August 1, 2023, is calculated as follows:
• Principal and interest of $840.92
• Base escrow payment of $464.17
• Escrow shortage payment of $86.67
As of the date of this letter, your loan is past due for August 1, 2023 in the amount of $1,391.76. We have enclosed a copy of
the Loan History Statement for your review.
Newrez is committed to working with each of our customers to provide the highest level of service possible. We sincerely
apologize if your experience did not meet the level of service we are committed to. However, 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
Newrez LLCInitial Complaint
Date:08/09/2023
Type: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 was notified by my mortgage company that Newrez had bought my mortgage and payment would be due August 8. I received no contact information until Newrez emailed me on August 8. The email tells you you can either pay over the phone or using the web site but neither work. When you type information into the website to register and click apply nothing happens. When you call them there is a long pause, a click, and then a busy signal. You cannot email them and there is no customer support link. I am concerned that they will not let be make payment and then try to charge me late fees. I wanted to report this today to establish that I am trying to make payment.Business Response
Date: 08/18/2023
The Real Estate
Settlement Procedures Act (“RESPA”) requires mortgage servicing companies to
provide borrowers with timely notices regarding the transfer of the servicing
rights to a loan the former servicer must provide a disclosure at least 15 days
before the effective date of the transfer. Meanwhile, the new servicer must
provide not more than 15 days after the effective date the notice the loan was
transferred to their company.
Loan records
confirm, Newrez sent the enclosed Welcome Letter dated August 5, 2023, informing
you of the servicing transfer starting August 1, 2023 of your payment options.
Please note, this notice was sent within the allotted RESPA timeframe.
Please know, when a loan is within the initial 60-day
transition period, Newrez will not assess any late charges nor report late
payments to the Consumer Reporting Agencies (“CRAs”), as payments made to the
prior servicer may be delayed in being posted to the loan due to the transfer.
In addition, it may take up to 60 days to retrieve all payments and/or
documents from your previous servicer. After the 60-day transition, Newrez may
assess a late fee to the loan if the full monthly installment is not received
prior to the 16th of each month. Additionally, Newrez would report the loan to
the CRAs if the monthly installment is not received within the same month.
The servicing transferred
from Mr. ****** to Newrez on August 1, 2023. A transfer of servicing does not
affect the account terms and conditions, other than those related to the
servicing of the account. Please be advised, it is customary in the mortgage
lending industry for accounts to be sold and transferred between lending
institutions. These transfers do not require the permission of the homeowner.
Please note, on August 10, 2023 a payment of $1,768.07 was
received and applied as the August 2023 installment. The payment was processed
via our pre-boarding payment site, https://guestpay.**********/. Enclosed for your review is a copy of the loan’s payment
history.
Regarding your issues to access our customer web portal,
please be advised, when a loan is recently transferred new customers may
receive an error when attempting to register their loan to our system, for the
initial five (5) to seven (7) days after the loan has boarded. This typically
occurs as we are still uploading your data to our servers. Once this period
elapses, the error message will disappear.
In the event
you continue to encounter issues with our web portal, **************, Please refer to the below
guide for instructions on troubleshooting our Customer Service 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.
Certain antivirus programs such as ****** and **************** have proven to disable parts of our Customer Service Portal as well. Please add our site “**********” and “*****************” 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.
Please call
customer care at Newrez is ************ with any additional questions.
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:08/09/2023
Type: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.
While moving our ESCROW REFUND CHECK $3,324.57 was misplaced - and just found. The check was dated 8/1/22 and is "void after 120 days of issue". I can not reach Shellpoint by ANY of their customer service numbers, through their website, or email to get a REPLACEMENT CHECK.
This same issue happened once before about 3 years ago, for much less money, and I could never get them to respond... I just let that go. THIS I WILL NOT LET GO - PLESE HELP!Business Response
Date: 08/29/2023
Saturday 8:00AM-3:00PM
August 18, 2023
**** ******
****** ******
**** * *** ****** ******
***** ** *****
Sent via email: *************
RE: BBB Complaint #: ********
Reference #: **********
Account #: ********
Property: **** * **** ******
***** ** *****
Dear **** ****** and ****** ******:
This letter is in response to the Better Business Bureau (“BBB”) complaint received on August 9, 2023, and correspondence received
directly from you on August 8, 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”) serviced the loan on the behalf of the owner referenced
above beginning on or about March 16, 2019, until the loan was paid in full on July 15, 2022.
Please know that Newrez takes its customer service and consumer protection obligations very seriously and has significant staff
dedicated to its compliance related functions to identify, resolve, and permanently correct operational deficiencies and improve upon
consumer concerns.
Your complaint states while moving, you misplaced an escrow refund check dated August 1, 2022. The check indicated it was void
after 120 days. You have been unable to reach Newrez to request the re-issue of the check. You state you encountered a similar issue
with an escrow a refund check issued three years earlier and did not receive a response from us. You are requesting Newrez to reissue
the August 1, 2022 refund check.
Per the enclosed Loan History Statement, Newrez issued the following escrow refund checks to you between January 2020 and the
present.
On January 3, 2020, we issued an escrow refund of $578.80 via check number ******. Our records show this check was cashed on
February 13, 2020.
On December 21, 2021, we issued an escrow refund of $417.18. On June 30, 2022, the stale check was voided and the $417.18 was
returned to your escrow account, increasing the escrow balance.
On July 15, 2022, we received a payment of $265,201.12 which initially posted to the loan’s unapplied balance. On the same day,
$265,105.96 was removed from unapplied, completing the payoff of the loan and satisfying the $30.00 lien release fee. After the loan
was paid in full, an escrow balance of $3,229.41 and an unapplied funds balance of $95.16 remained.
Per the Real Estate Settlement Procedures Act (“*****”), Regulation X, §1024.34, within 20 business days of a homeowner’s
payment of a mortgage loan in full, any amounts remaining in an escrow account or in unapplied funds shall be disbursed to the
homeowner. Please note, it is a standard business practice for funds to be disbursed 20 business days after a payoff to ensure funds
have been processed, there are no issues with the payoff, and all outstanding invoices have been paid.
KE08182023E
In accordance with *****, on August 1, 2022, we issued your refund of $3,324.57 via check number *******. The refund was
comprised of the escrow and unapplied balances. Our records indicate the refund check was sent to the mailing address on file at the
time, **** * **** ******* ***** ** *****. On, or around January 13, 2023, we received a return of address notification showing
your address as **** * *** ****** ******* ***** ** ***** and updated our records; accordingly, however, check number *******
was not re-issued at that time as we had not received a request to re-issue it.
On August 10, 2023, the funds of $3,229.41 were re-issued via check number ******* to your updated mailing address. Please allow
up to 20 business days for receipt.
As stated above, your loan was paid in full on July 15, 2022.
Newrez has 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 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:08/02/2023
Type: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.
They are refusing to remove late fees and change the report that they falsely made on my credit report. I have been in touch with them and have done my part to give them the money and get everything done in the manner in which they have asked. But they are refusing to work with me on correcting what the customer server center is stating they could do and going back to charging me for late fees plus not removing that I don’t pay my bills on time. I was delinquent on payment. They reported me to a 3rd party also for trying to collect the debt 15 days into not getting their payment also. Which is highly inappropriate.Business Response
Date: 08/22/2023
August 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 August 3, 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 November 2, 2021.
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 have been in disputing the late charges assessed for May 17, 2023 and June 17, 2023 of $46.54 each. You
also stated Newrez is refusing to work with you on resolving this issue. Therefore, you are requesting for the late payments reported
to the Consumer Reporting Agencies (“CRAs”) to be removed.
In reviewing your complaint, we determined we have received a similar complaint in our office from you on July 12, 2023 and
Newrez responded to the complaint on August 2, 2023. We feel it addresses the same concerns expressed in your complaint; however,
to provide further clarification we are providing the following information.
Your contractual due date is the 1st of the month and payments must be received on or before the 16th of the month to avoid late
charges. Newrez records show the May 1, 2023 installment of $1,803.42 via check number 002 was received on June 16, 2023. A late
charge of $46.54 was assessed to your loan on May 17, 2023 as the installment was not received by the 16th of May 2023. The June 1,
2023 installment of $1,803.42 was received on June 27, 2023. As the installment was not received by the 16th of June 2023, a late
charge was assessed to your loan in the amount of $46.54.
Newrez reviewed documentation and correspondence provided from your banking institution, **** ******* ****** ***** and
determined your check was sent but lost in transit. Although the check was not lost due to any fault of Newrez, on August 2, 2023, we
completed an ********* ********* **** **** ******* to update the reporting for the month of May 2023 and reported as “No
Data”. No Data is not a negative nor positive reporting, however, it will remove the previous negative reporting. In our previous
response, we advised to allow three to five business days for the Consumer Reporting Agencies to update their records. We also
confirm the loan was not reported negatively for the month of June 2023.
Additionally, Newrez also waived both late charges assessed in May 2023 and June 2023 in the total amount of $98.03 on August 2,
2023, as a one-time courtesy.
KE08112023B
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.
We have enclosed an Automatic Payment Enrollment form which provides information on our monthly, bi-weekly, and semi-monthly
recurring payment plans.
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 *************
As of the date of this communication, the loan is current and due for the next installment of $1,803.42 on September 1, 2023.
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
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 ************.
Sincerely,
Stanley B*****
Compliance Department
Newrez LLCInitial Complaint
Date:08/02/2023
Type: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 loan was sold from ******** to NewREZ with an effective date of 9/1/2023. The transfer documents show the name of the new loan service provider, address and phone number. The letter does not show any website or how to set up online account information. on 8/1/2023, I tried calling the ************** number, three times this morning, and no one answers. A message comes on and states that the call cannot be made as dialed, call back. I then contacted ******** for confirmation of number. This afternoon, I'm trying to call them and again, the number is not working. I call two other phone numbers that show up on their website and none of those numbers are working. I tried to send them a message through their website to ask for assistance and that did not go through either. Can some contact them and let them know that none of their ***** numbers are working, their website is not working.
I have no way of setting up my new mortgage with them. I need help and resolution on this matter.Business Response
Date: 08/11/2023
We apologize for the issues you may have encountered while
attempting to contact our offices and access our company web portal. To address
your concerns the below information is provided.
The loan was
originated with ******** with the first payment due date as of September 1,
2023. Pursuant to the origination of the loan, ******** transferred their
servicing rights to Newrez effective July 25, 2023. On July 26, 2023, Newrez
issued the enclosed servicing transfer notice, also known as Welcome Letter,
providing you with our contact information, loan number and details on how to
make your payment by mail by providing a payment coupon along with the
servicing transfer notice, which provides our payment mailing address listed below:
Newrez, LLC
** *** ******
******* ** **********
The servicing
transfer notice different options available to make your monthly payment, which
include payments via our customer web portal, **************,
via our automatic withdrawal program also called ACH, and by phone which can be
made with a service representative or through our Interactive Voice Response
(“IVR”) system.
We reached out
to our IT Department and confirmed the loan has been successfully boarded in
our system, and you should not have any issues accessing your account
information. Please know, to access the account, you must utilize the loan
number assigned to you by Newrez, listed above as reference number. Please be
aware, the ******** loan number will not be recognized in our system.
If you
attempted to access your account information within the initial five to seven
days from the date the loan was transferred, you may encounter an error
message; however, after this time frame, you should be able to register and
access your account information with no issues. In the event you encounter
issues accessing our customer web portal, please refer to the below guide for
instructions on troubleshooting our Customer Service Portal.
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.
Certain antivirus programs such as ****** and **************** have proven to disable parts of our Customer Service Portal as well. Please add our site “**********” and “*****************” 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.
Please call
customer care at Newrez is ************ with any additional questions or to
receive live assistance.
Regarding your
claims of not being able to make contact with a live representative while
contacting the company using ************, please be
advised, the telephone number you are contacting is Newrez’s contact number;
however, we are unable to determine why you were unable to reach our offices,
as our records do not show a call being connected to our center.
Please be advised, our Interactive
Voice Recognition (“IVR”) systems require you to verify your loan before being
successfully transferred to our Customer Service Department. Without proper authentication, the call cannot be transferred
to our Customer Service Department. Please ensure the loan number and zip code
listed above is the information being utilized when calling our IVR system. However,
you may follow prompts to bypass the IVR verification and would be transferred
to our Customer Service Department for verification. By following the proper
steps, you call will be connected to a live representative or transferred to
our IVR system, as you may wish.Initial Complaint
Date:08/02/2023
Type: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.
Although my NewRez account is, and has been, set up on monthly reoccuring payments, NewRez has flagged my account as over 30 days late, which has dropped my credit score. They have called me almost weekly to ask me about my payment, only to realize that the payment was made on my end, but THEY did not properly allocate the funds to the correct account. I've spent hours on the phone with customer service. I've submitted proof of payment, and have also had to have them reverse the late fees on my account several times. Becuase of this, I've spent countless hours on the phone with their customer service, and have had to be harrased to the point of threatining to hire an attorney to deal with this because of the anxeity this has caused me. Now I'm having to show them proof of payment again, in order for them to take the late flag off my credit report. I am 41 years old and have never been late on a payment. I'm at the point of hiring an attorney to handle this for me since the company cannot seem to get my account in order. I've also made an extra 3rd payment on my account, just to keep my phone from ringing. I've had to block their customer support numbers because I'm constantly being harrased all while the payments are being made on time. This is truly an unbelieveable situation and one that I cannot understand how a company this big cannot seem to figure out. To top it all off, I make bi-weekly payments, so in actuality, I'm overpaying my account annually. For the icing on the cake, I'm also paying more monthly than what is actually due. This is totally harrasement, and I'll be seaking leagal counsel to deal with it since they cannot seem to help me.Business Response
Date: 08/11/2023
Your complaint states the
account is enrolled in automated clearing housing (“ACH”) payments and Newrez
reported the loan thirty (30) days past due, which lowered your credit score.
You received several calls requesting a payment; however, the funds had not
been properly credited to the account. You have submitted proof of payment on
several occasions to have the reporting corrected and the late charges removed,
but noting has been done. You submitted an additional three payments and have
blocked Newrez phone numbers, as you do not want to receive any more collection
calls. You are requesting your credit reporting be corrected. Account records
indicate that when the loan was acquired on November 2, 2022, the account was
next due for the December 1, 2022 with a balance of $652.00 in unapplied funds
(“UAF”). On November 5, 2023, the UAF balance of $652.00 was applied to the principal.
On November 9, 2022, a payment in the amount of $652.00 was received and
applied to the principal, with an effective date of November 7, 2022. On November
23, a payment in the amount of $652.00 was received and applied to the
principal, with an effective date of November 21, 2022. Due to the November 7,
2022 and November 21, 2022 payments being applied to the principal, some subsequent installments were paid past
the 15-day grace period and late charges in the amount of $36.88 were assessed
for each late installment. The June 1, 2023 installment was satisfied 30 days
past due and reported as such with the Consumer Reporting Agencies (“CRAs”). On
August 10, 2023, the loan went under maintenance and all funds received
starting November 7, 2023 were reallocated as follows: $1,251.24 was reapplied
as the December 2023 installment, with an effective date of November 21, 2022 $52.76
was reapplied to the principal, with an effective date of November 21, 2022 $1,251.24
was reapplied as the January 1, 2023
installment at $1,251.24, effective December 19, 2022 $52.76 was reapplied to
the principal, with an effective date of December 19, 2022 $1,251.24 was reapplied as the February 1, 2023
installment, with an effective date of January 13, 2023 $52.76 was reapplied to
the principal, with an effective date of January 13, 2023 $1,251.24 was
reapplied as the March 1, 2023 installment, with an effective date of February
14, 2023 $52.76 was reapplied to the principal,
with an effective date of February 14, 2023 $1,251.24 was reapplied as the April 1, 2023 installment,
with an effective date of March 14, 2023 $52.76 was reapplied to the principal,
with an effective date of March 14, 2023 $1,268.96 was reapplied as the May 1,
2023 installment, with an effective date of March 30, 2023 $35.04 was reapplied
to the principal, with an effective date of March 30, 2023 $1,268.96 was
reapplied as the June 1, 2023 installment, with an effective date of April 25,
2023 $35.04 was reapplied to the principal, with an effective date of April 25,
2023 $1,268.96 was reapplied as the July 1, 2023 installment, with an is effective
date of May 9, 2023 $35.04 was reapplied to the principal, with an effective date
of May 9, 2023 $1,268.96 was reapplied as the August 1, 2023 installment, with
an effective date of June 20, 2023 $35.04
was reapplied to the principal, with an effective date of June 20, 2023. $1,268.96
was reapplied as the September 1, 2023
installment, with an effective date of July 14, 2023 $35.04 was reapplied to the principal, with an
effective date of July 14, 2023 $1,268.96
was reapplied as the October 1, 2023 installment, with an effective date of July
18, 2023 $35.04 was reapplied to the principal, with an effective date of July
18, 2023 $73.76 in late charges was waived On August 11, 2023, an automated universal
data form was submitted to update the June 1, 2023 installment from 30 days
past due to current. Please allow the CRAs seven to ten business days to update
their records. Newrez cannot advise you regarding your credit score, as we have
no knowledge of your credit profile or how the individual agencies calculate
your credit score. You will need to contact them directly to inquire about your
credit report and credit score. Their contact information is provided below. We
respectfully request you contact them directly with any issues regarding their
determination of your credit score. Please take note that the payment hierarchy
requires full payment to be received before
a payment can be applied to the due date; therefore, when partial payments are
received, they are placed in UAF. If a payment is past due or due for the
current month, the funds will be held in UAF until additional funds are
received to satisfy a full payment. Once a full payment has been received, the
funds are removed from UAF and applied to the loan. 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 principal payment. Please understand, bill-pay payments
do not transmit instructions to us. However, Shellpoint has created a special
payment posting rule for homeowners who wish to make biweekly or weekly
payments on their own. This was created to help prevent payments from
automatically posting to fees and the principal balance. We have added this
special payment rule to your loan. As of the date of this correspondence, the
loan is next due for the November 1, 2023 installment for $1,268.96. 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.Initial Complaint
Date:08/01/2023
Type: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 attempted numerous times to have the late payments removed from my credit report as payment was paid by bill pay. I have sent informaton to Shellpoints(including bank statements), I have been attempting have them removed since they first appeared on my credit report. Mortgage was paid through bill pay with 2 to 4 weeks prior to account being paid. The following months June , July, September, October, November, Decemeber 2020. January, February, March, April, May, June, July and August of 2021. The bills were paid in good standig using bill pay. I don't think that In should be penalized due to a banking issue.Business Response
Date: 08/22/2023
August 11, 2023
****** ** ******
**** ********************
*** ** **** *****
***** ******** ** *****
Sent via email: ***********************
RE: BBB ID #: ********
CFPB Complaint #: ***************
Reference #: **********
Account #: ********
Property: *** ** **** *****
***** ******** ** *****
Dear ****** ** ****** and **** ********************:
This letter is in response to the Better Business Bureau (“BBB”) complaint received on August 1, 2023, and the Consumer Financial
Protection Bureau (“CFPB”) complaint received on July 31, 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 November 1, 2019.
Please know that Shellpoint takes its customer service and consumer protection obligations very seriously and has significant staff
dedicated to its compliance related functions to identify, resolve, and permanently correct operational deficiencies and improve upon
consumer concerns.
Your complaint states you attempted numerous times to have the past due payments removed from your credit report as you had your
monthly installments paid by BillPay. Your records show your mortgage was paid in good standing for the months of June 2020 to
August 2021 and believe you should not be penalized due to a banking issue.
In review of your loan, the loan was service transferred to Shellpoint on or about November 1, 2019. You utilized BillPay payments
to make your monthly installments which included your June 1, 2020 installment on June 19, 2020, totaling $1,983.72. However, we
did not receive your July 1, 2020 installment in the month of July 2020. On July 18, 2020, Shellpoint mailed your Mortgage
Statement which advised of the past due installment. On July 20, 2020, Shellpoint also mailed a 17-day delinquency notice which
advised the July 1, 2020 installment was missing and past due. This caused your subsequent installments to be past due one month
until you brought them current in August 2021. The payments received after June 2020 posted as follows:
• On July 17, 2020, Shellpoint assessed a late charge of $69.85.
• On August 7, 2020, we received a payment of $2,038.87 and of that $1.983.72 satisfied the July 1, 2020 contractual
installment due and $55.15 was applied to your unapplied account.
• On August 17, 2020, Shellpoint assessed a late charge of $69.85.
• On August 28, 2020, we received a payment of $2,038.87 and of that $1,983.72 satisfied the August 1, 2020
• contractual installment and $55.15 applied to the Late Charge payment.
• On August 30, 2020, we reversed the unapplied balance of $55.15 and posted the funds to the Late Charge Payment.
• On September 17, 2020, Shellpoint assessed a late charge of $69.85.
• On October 2, 2020, we received a payment of $2,038.87 and of that $1.983.72 satisfied the September 1, 2020 contractual
installment and $55.15 was applied to the unapplied account.
***********
• On October 17, 2020, Shellpoint assessed a late charge of $69.85.
• On November 6, 2020, we received a payment of $2,038.87 and of that $1,983.72 satisfied the October 1, 2020 contractual
installment and $55.15 applied towards the unapplied account.
• On November 17, 2020, Shellpoint assessed a late charge of $69.85.
• On December 4, 2020, we received a payment $2,038.87 and of that $1,983.72 satisfied the November 1, 2020 contractual
installment and $55.15 applied towards the unapplied account.
• On December 17, 2020, Shellpoint assessed a late charge of $69.85.
• On January 6, 2021, we received a payment of $2,038.87 and of that $1.983.72 satisfied the December 1, 2020 contractual
installment and $55.15 applied towards the unapplied account.
• On January 17, 2021, Shellpoint assessed a late charge of $69.85.
• On February 12, 2021, we received a payment of $2,038.87 and of that $1,983.72 satisfied the January 1, 2021 contractual
installment and $55.15 applied to the unapplied account.
• On February 17, 2021, Shellpoint assessed a late charge of $69.85.
• On March 12, 2021, we received a payment of $2,038.87 and of that $1,983.72 satisfied February 1, 2021 contractual
installment and $55.15 applied towards the unapplied account.
• On March 17, 2021, Shellpoint assessed a late charge of $69.85.
• On April 9, 2021, we received a payment of $2,038.87 and of that $1,995.76 satisfied the March 1, 2021 contractual
installment and $43.11 applied towards the unapplied account.
• On April 17, 2021, Shellpoint assessed a late charge of $69.85.
• On May 7, 2021, we received a payment of $2,038.87 and of that $1,995.76 satisfied the April 1, 2021contractual
installment and $43.11 applied to the unapplied account.
• On May 17, 2021, Shellpoint assessed a late charge of $69.85.
• On June 4, 2021, we received a payment of $2,038.87 and of that $1,995.76 satisfied the May 1, 2021 contractual installment
and $43.11 applied to the unapplied account.
• On June 17, 2021, Shellpoint assessed a late charge of $69.85.
• On July 2, 2021, we received a payment of $2,038.87 which applied to the unapplied account, totaling $2,499.10. On the
same day, Shellpoint removed and reapplied $1,995.76 to satisfy the June 1, 2021 contractual installment. The unapplied
account balance was $503.24.
• On July 17, 2021, Shellpoint assessed a late charge of $69.85.
• On August 2, 2021, we received a payment of $2,038.87 and of that $1,995.76 satisfied the July 1, 2021 contractual
installment and $43.11 applied to the unapplied account.
• On August 17, 2021, Shellpoint assessed a late charge of $69.85.
• On August 31, 2021, we received a payment of $1,995.76 satisfying the August 1, 2021 contractual installment. On the same
day, we removed the unapplied account balance of $546.45 and reapplied the funds to the Late Charge balance. As of
August 31, 2021, a Late Charge balance of $728.94 remained.
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. As reflected
above and in the enclosed Loan History Statement, the full monthly installments were not received by the 16th of the current month.
Therefore, Shellpoint has determined the late fees were assessed correctly and will not be waived.
After review of your payment history listed above, Shellpoint determined the loan was reported correctly as 30-59 days past due for
the months of July 2020, September 2020, October 2020, December 2020, January 2021, and March 2021 to July 2021. We have
determined that the information submitted to the Consumer Reporting Agencies (“CRAs”) was sent in compliance with the Fair
Credit Reporting Act. While the loan was past due, Shellpoint submitted information to the CRAs reporting it as such. Shellpoint is
obligated to furnish the CRAs with accurate information and will not remove the reported delinquencies.
If you have made payments that are not reflected on the enclosed payment history, please provide proof of the payments to the
Shellpoint address or fax number listed below for additional research. Proof of a payment includes one or more of the following:
legible copies of the front and back of the cashed money order or check, legible unaltered copies of the bank statement for the period
the payment was processed, or legible receipts for ******* *****, ***** ****, etc.
Shellpoint Mortgage Servicing
**** *** *****
*********** ** *****
**** ************Initial Complaint
Date:08/01/2023
Type: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 reached out via various emails and called and no resolution or outreach has been provided to date.
Additionally, I received correspondence from Newrez Friday 7/28 dated 7/24 (after several of my emails and calls) stating that you will be placing a forced placed hazard insurance. Please be aware that Newrez has paid two different hazard insurance policies, one in which was canceled, and cancellation was sent to you prior to you inadvertently issuing payment. You also have the current hazard insurance policy at hand as you paid that policy as well. You have not sent hte Fire policy even though the invoice and information was sent to you various times. We have been properly insured with no lapse whatsoever. Should you move forward with a forced placed insurance when I already have an active hazard policy on my home after my many notifications to you, I will move forward with legal outreach.
Lastly, and as a final Request please correct and credit our escrow account accordingly as I reiterate, you inadvertently paid for a canceled policy on my account in which you had notice of the cancellation. I would also like to point out that NewRez made this same error last year and it took months to get NewRez to corerct the issue.
NewRez is carelessly mismanaging this mortgage and escrow account. I have to continue to take time from my work for countless hours and days due to your inability to mage the account as you are obligated to do so.
Thank you,
*****Business Response
Date: 08/11/2023
Pursuant to the insurance requirements
listed in the enclosed Security Instrument, Section 5, Property Insurance, for
as long as the property is financed, it must be insured. If the homeowner fails
to maintain any of the required coverages as outlined in the insurance
requirements, the Lender may obtain insurance coverage and any amounts
disbursed by the Lender for this purchase shall become additional debt of the
homeowner.
Newrez is required to maintain
current insurance records for your loan. Any time there is no proof of current
coverage, or a lapse in insurance coverage, notification will be sent to the
mailing address on file. These notices are sent out no less than 45 days
prior to a us purchasing insurance for the property. If needed a second
warning notice is sent out 30 days later, advising you proof of insurance
coverage is needed and our intent to purchase insurance if proof of coverage is
not received. This letter provides an additional 15 days to provide the needed
proof of insurance before the purchase is made.
Our June 21,
2023, Newrez issued payment for the wind policy renewal premium through
Citizens Property Insurance Corp. policy number 07681721. On July 3, 2023, we
received notification this policy was being cancelled per your request,
effective July 16, 2023.
Please see the attached for our complete response to this complaint.Business Response
Date: 08/11/2023
Pursuant to the insurance requirements
listed in the enclosed Security Instrument, Section 5, Property Insurance, for
as long as the property is financed, it must be insured. If the homeowner fails
to maintain any of the required coverages as outlined in the insurance
requirements, the Lender may obtain insurance coverage and any amounts
disbursed by the Lender for this purchase shall become additional debt of the
homeowner.
Newrez is required to maintain
current insurance records for your loan. Any time there is no proof of current
coverage, or a lapse in insurance coverage, notification will be sent to the
mailing address on file. These notices are sent out no less than 45 days
prior to a us purchasing insurance for the property. If needed a second
warning notice is sent out 30 days later, advising you proof of insurance
coverage is needed and our intent to purchase insurance if proof of coverage is
not received. This letter provides an additional 15 days to provide the needed
proof of insurance before the purchase is made.
Our June 21,
2023, Newrez issued payment for the wind policy renewal premium through
Citizens Property Insurance Corp. policy number 07681721. On July 3, 2023, we
received notification this policy was being cancelled per your request,
effective July 16, 2023.
Please see the attached for our complete response to this complaint.
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