Complaints

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.

• Initial Complaint

  Date:02/27/2024

  Type:Billing Issues
  Status:

  ResolvedMore 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 received letters from Newrez that they needed a copy of my hazard insurance in about the fall of 2023. At that time, i reached out to my insurance agent that gave me a copy of my home insurace that i forwarded to Newrez, then i followed up with a phone call to see if they had received the copy of insurance. It was determined that it wasn't the home insurance that they needed from me but Hazard insurance that is purchased by the property management company of our condominium. On November 30th, I followed up with Nija at Newrez and she confirmed that she received confirmation of the Hazard insurance from ***** ****** of ****** ********** ** ******** **. and that i should be getting a confirmation letter in the mail within a couple weeks. In early February, i realized that i had not yet received the letter so called Newrez and spoke to an agent who then told me that there is no documentation of hazard insurance to my loan account number. I explained that i had confirmation from Nija on 11/30. I did not get agents name because call was dropped. I called back on February 6,2024, and spoke to Mindy. She did check the history of my account and confirmed that they did have proof of Hazard insurance coverage. A couple weeks later, i received a letter from newrez dated February 1, 2024 that the lender placed insurance that was purchased by newrez had been cancelled and adequate insurance coverage was provided. However, on my March mortgage statement dated 2/17/24 which is due on 3/01/24, it shows that my mortgage has gone up about $286.97 per month from $987.86 per month to $1274.83. My February escrow was $137.04, while my March escrow taxes and insurance is $$424.01. I would like your assistance in clearing this matter, because this is not the first time that The BBB had to intervene between myself and Newrez for this similar situation. Thank you, ****** ******* ***** ********

  

  Business Response

  Date: 03/22/2024

  Dear ****** ******** ******* and ****** *** ********
  
  This letter is in response to the Better Business Bureau
  (“BBB”) complaint received on February 27, 2024 and correspondence received on
  March 9, 2024 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 behalf of the
  owner referenced above on or about August 1, 2023. 
  
  Please know that Newrez LLC takes its customer service and
  consumer protection obligations seriously and has dedicated staff to identify,
  resolve, and permanently correct operational deficiencies.  
  
  Your complaint states you are dissatisfied with the
  customer service received regarding the removal of the lender-placed insurance
  (“LPI”) policy on your loan. You state you are being asked to provide proof of
  insurance for a period of August 1, 2023 through December 15, 2023 after being
  advised by two customer service representatives your proof was received. You
  also requesting an explanation as to why the Compliance Department responding
  to your complaint when your issue is a Customer Service issue.
  
  Please accept our sincere apology if you have received any
  misinformation prior to our communication. Shellpoint does not condone
  unprofessional communication with consumers, as it is our goal to adhere to all
  state and federal laws and regulations concerning the servicing of loans. We
  apologize for any inconvenience you may have experienced regarding the
  servicing of this loan.
  
  Upon additional research, we were able to locate the State
  Farm policy under policy number ************ effective December 16, 2022
  through December 16, 2023. Your proof of insurance has been forwarded to our
  Insurance Department and the LPI policy was fully cancelled on March 22, 2024
  
  Please allow seven to ten business days for the LPI refund
  to be deposited to your escrow. Once the LPI refund has been deposited in your
  escrow, a request will be made to have an updated escrow analysis generated and
  it will be mailed to you under a separate cover.
  
  Additionally, it's important to clarify our process
  regarding complaints. All of Shellpoint’s written correspondences and/or
  complaints are addressed by our Compliance Department as part of our commitment
  to regulatory standards and transparency. However, if you prefer to discuss
  your concerns directly with someone, we encourage you to reach out to our
  dedicated Customer Service Department at ************. We value your feedback
  and are here to assist you in any way we can.
  
  As of the date of this communication, the loan is due for
  the April 1, 2024 installment of $1,274.83.
  
  Please accept our sincere apologies for any inconvenience
  regarding the removal of the LPI from your loan. Please know that Newrez takes
  its customer service obligations very seriously and your concerns have been
  brought to the attention of the appropriate people within our organization.
  
  For any additional inquiries or assistance, please visit
  our website at **************. Once logged in, navigate to the Help icon at the
  top right corner and select Contact Us from the drop-down menu. Here, you can
  submit your questions and concerns, as well as upload any relevant documents.
  You can also find helpful information on our Frequently Asked Questions
  (“FAQs”) page. From the Help menu, choose FAQs from the drop-down menu for
  quick access to answers to common questions. Alternatively, you may also
  contact me directly at ************************ or by phone at ************,
  ext. ****, Monday through Friday from 8:00 am to 5:00 pm ET. You may also
  contact Customer Service at *************

  Customer Answer

  Date: 03/27/2024

  Better Business Bureau,
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  
  
  Regards,
  
  
  
  ****** *******

• Initial Complaint

  Date:02/27/2024

  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.

  Continue to charge for Hazard insurance, regardless of howmany times and ways I have showed proof of hazard insurance. I was charged from July 2023 to present. I spoke with them in December, and i was told My hazard insurance was indeed visiable in the Shellpoint Portal, and I would receive a refund. This has never happened. Today February 26 2024, I received another letter they would again be placing lender Hazard insurance. Myself as well as My HOA , have faxed Mailed, emailed and uploafed my Hazard insurance. Shellpoint continues to ignore this. I do not know how to end this issue

  

  Business Response

  Date: 03/07/2024

  Dear **** ****** *****:
  
  This letter is in response to the Better Business Bureau
  (“BBB”) complaint received on February 26, 2024 regarding the subject
  property. ********* ***., not in its individual capacity, but solely as
  owner trustee of the New Residential Mortgage Loan Trust 2023-1 is currently
  the owner of the account number ending in 0475. Shellpoint Mortgage Servicing (“Shellpoint”)
  began servicing the loan on behalf of the owner referenced above on or about
  April 10, 2023. 
  
  Please know that Shellpoint Mortgage Servicing takes its
  customer service and consumer protection obligations seriously and has
  dedicated staff to identify, resolve, and permanently correct operational
  deficiencies.  
  
  Your complaint states Shellpoint continues to charge you
  for hazard insurance after you provided proof of hazard insurance. You have
  been charged from July 2023 to present. You spoke with Shellpoint in December
  2023 and you were informed you would receive a refund, but it was never
  received. On February 26, 2024, you received a letter informing you a lender-placed
  insurance (“LPI”) policy would be placed on your property. You are requesting the
  LPI be cancelled and refunded.
  
  Pursuant to the insurance requirements in the enclosed
  Mortgage, 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. In addition, all
  insurance policies required by Lender and renewals of such policies shall be
  subject to the Lender’s right to disapprove such policies, shall include a
  standard mortgage clause, and shall name the Lender as mortgagee and/or as an
  additional loss payee. Enclosed is a copy of the Mortgage for your review. 
  
  Since your property is a condominium, you were required to
  provide both proof of your Homeowner’s Association (“HOA”) master hazard
  insurance coverage and unit owner’s (“HO6”) coverage for your property at the
  loan closing. Since insurance is required for your property, we will maintain
  insurance on the property by purchasing an LPI policy when proof of your
  insurance policies has not been received.
  
  When active or sufficient proof of insurance is not
  available, Newrez is required to send notices requesting proof of insurance out
  no less than 45 days prior to purchasing insurance for a property. If needed a
  second notice is sent out 30 days later, advising once again of the intent to
  purchase insurance if proof of coverage is not received. This letter provides
  the homeowner with an additional 15 days to provide the needed proof of
  insurance before a Lender Placed Insurance (“LPI”) policy is purchased on your
  behalf.
  
  On June 9, 2023, Shellpoint sent a letter informing you
  that the flood insurance policy on file did not contain an adequate amount of
  coverage. The letter stated if you do not respond within 45 days, by either
  providing evidence you increased your flood insurance policy coverage or
  requesting we provide you with such coverage, the necessary additional flood
  insurance coverage will be obtained for you.
  
  On July 10, 2023, Shellpoint sent a second letter informing
  you the flood insurance policy did not contain an adequate amount of coverage.
  The letter stated if you do not respond within 15 days, by either providing
  evidence you increased your flood insurance policy coverage or requesting we
  provide you with such coverage, the necessary additional flood insurance
  coverage will be obtained for you.
  
  As proof of your flood insurance policy was not received
  for the period of June 9, 2023 through June 9, 2024, a binder notification was sent
  on July 26, 2023 explaining this information and a LPI policy was purchased for
  the property. The annual premium for this policy is $6,821.52 and provides coverage
  from June 9, 2023 through June 9, 2024.
  
  Additionally, on June 16, 2023, Shellpoint sent a first
  insurance notification informing you the HOA policy on file had expired, and Shellpoint
  needed proof of coverage. The notice explained how to send your policy to
  Shellpoint and that if your proof of insurance was not received in a timely
  manner, an LPI policy would be purchased for the loan.
  
  On July 17, 2023, Shellpoint sent a second notification informing
  you we were unable to verify insurance coverage from July 1, 2023 through
  December 1, 2023 and needed proof of coverage. As of August 2, 2023, proof of
  your HOA policy was not received for the period of April 10, 2023 through April
  10, 2024; therefore, a notification was sent explaining this information and an
  LPI policy was purchased for the property. The annual premium for this policy
  is $2,106.96 and provides coverage from April 10, 2023 through April 10, 2024.
  
  However, as proof of insurance was received for your HOA
  policy and the LPI policy was cancelled on August 17, 2023 with an effective
  date of April 10, 2023. Please note, no disbursements were made from your
  escrow for the policy purchased, therefore, no refund is necessary.
  
  On September 27, 2023, Shellpoint sent a first insurance
  notification informing you the HO6 policy on file had expired, and Shellpoint
  needed proof of coverage. The notice explained how to send your policy to
  Shellpoint and that if your proof of insurance was not received in a timely
  manner, a lender-placed insurance would be purchased for the account.
  
  On October 27, 2023, Shellpoint sent a second notification informing
  you we were unable to verify insurance coverage from July 1, 2023 through
  December 1, 2023 and needed proof of coverage. As of November 13, 2023, proof
  of your HO6 policy was not received for the period of September 20, 2023
  through September 20, 2024; therefore, a notification was sent explaining this
  information and a LPI policy was purchased for the property. The annual premium
  for this policy is $3,711.36 and provides coverage from September 20, 2023
  through September 20, 2024.
  
  Proof of insurance was received for your flood insurance
  policy and the LPI policy was cancelled on January 16, 2024 with an effective
  date of July 18, 2023. On January 23, 2024 a refund in the amount of $252.50
  was refunded to your escrow and on January 25, 2024, a refund in the amount of
  $1,180.17 was refunded to your escrow. Please note, to fully refund the LPI
  funds paid for flood insurance, please provide proof of coverage for the period
  of June 9, 2023 through July 18, 2023. You may submit your insurance policy
  online at ********************************************, or mail it to the
  following address:
  
  Shellpoint Mortgage Servicing
  ***** * *****
  ** *** ****
  ***** ** **********
  
  Furthermore, proof of insurance was received for your HO6
  insurance policy and the LPI policy was cancelled on February 1, 2024 with an
  effective date of December 15, 2023. On January 23, 2024, a refund in the
  amount of $299.51 was refunded to your escrow, on February 2, 2024, a refund in
  the amount of $208.91 was refunded to your escrow, and on March 6, 2024, a
  refund in the amount of $728.97 was refunded to your escrow.
  
  On February 13, 2024, Shellpoint sent a first insurance notification
  informing you the HO6 policy on file had expired, and Shellpoint needed proof
  of coverage. The notice explained how to send your policy to Shellpoint and
  that if your proof of insurance was not received in a timely manner, a
  lender-placed insurance would be purchased for the account.
  
  However, upon additional research, we were able to locate
  the master policy and the LPI policy was cancelled on February 27, 2024.
  
  Please note, LPI had not been purchased so no disbursements
  were made from your escrow for the policy, therefore, no refund is necessary.
  
  
  As of the date of this communication, the loan is due for
  the April 1, 2024 installment of $1,898.80.
  
  Although Shellpoint apologizes for any inconvenience, we
  have determined that no error has occurred. You have the right to request
  documentation supporting our determination.
  
  For any additional inquiries or assistance, please visit
  our website at www.shellpointmtg.com. Once logged in, navigate to the Help icon
  at the top right corner and select Contact Us from the drop-down menu. Here,
  you can submit your questions and concerns, as well as upload any relevant
  documents. You can also find helpful information on our Frequently Asked
  Questions (“FAQs”) page. From the Help menu, choose FAQs from the drop-down
  menu for quick access to answers to common questions. Alternatively, you may
  also contact me directly at ************************ or by phone at
  ************, ext. ****, Monday through Friday from 8:00 am to 5:00 pm ET. You
  may also contact Customer Service at ************. 

• Initial Complaint

  Date:02/26/2024

  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.

  Despite my repeated attempts to address this matter, the situation with Shellpoint mortgage servicing remains unresolved. Following my initial correspondence on 11/27/23 and subsequent phone calls, I have yet to see any meaningful progress in rectifying the issue of missing escrow funds ($3955.35) associated with my loan transfer from ***** (Loan number **********) to Shellpoint (Loan number **********). In January, I received a disheartening letter from Shellpoint, disclaiming any knowledge of the previous escrow balance history and suggesting that the funds might have been diverted to home insurance or property taxes. Subsequent communication with ***** confirmed the disbursement of the missing escrow funds to Shellpoint on 12/6/23, yet there is still no evidence of these funds being credited to my account, despite my persistent inquiries. This flagrant mishandling of my finances is not only deeply concerning but also indicative of a serious breach of trust. I have dedicated countless hours over the past few months attempting to resolve this matter, only to be met with delays and evasive responses. At this juncture, I am left with no alternative but to escalate this issue to BBB Upstate South Carolina in the hopes that my issue will be resolved.

  

  Business Response

  Date: 03/07/2024

  Please know that Shellpoint Mortgage Servicing takes its
  customer service and consumer protection obligations seriously and has
  dedicated staff to identify, resolve, and permanently correct operational
  deficiencies.  
  
  The complaint states, despites your repeated attempts to
  have Shellpoint resolve the issue of the missing escrow funds of $3,955.35,
  this matter has yet to be resolved. During the month of January 2024, you
  received a letter from Shellpoint stating that it was possible a payment was
  disbursed from the escrow account by the prior servicer causing the escrow
  funds to be less than expected. However, you have confirmed with the prior
  servicer, *****, Inc, the funds were transferred to Shellpoint on December 6,
  2023. To you understanding, this is mishandling of your finances as the issue
  remains unresolved.
  
  Shellpoint began
  servicing the loan on or about November 8, 2023 and was transferred with an
  escrow balance of $1,318.44.
  
  Upon the
  receipt of your complaint, we reviewed the loan to determine if any escrow
  payments were sent to our offices by the prior servicer, as the escrow account
  should have transferred to our offices with a balance of $3,955.32. As a
  result, it was confirmed the prior servicer attempted to send two escrow
  payments of $1,318.44 each, to be added to the escrow account prior to the
  transfer to Shellpoint, but the funds were omitted at the time of transfer.
  
  On March 5,
  2024, the two missing escrow payments totaling, $2,636.88 was deposited in to
  the escrow account. As a result of the receipt of the escrow payments, the
  escrow balance has increased from $6,592.20 to $9,229.08. Enclosed for your
  review is a copy of the loan’s payment history confirming the receipt of the
  missing escrow funds from the prior loan servicer.
  
  As of the date
  of this letter, the loan is due for the April 1, 2024 monthly installment of
  $10,122.78.
  
  Please accept our sincere apologies for any inconvenience this
  matter may have caused. Shellpoint takes our customer service obligations very
  seriously and your concerns have been brought to the attention of the
  appropriate people within our organization.
  

• Initial Complaint

  Date:02/21/2024

  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.

  The loan server requested insurance documents from me. They sent me a letter stating that if I don't sene in my HO6 insurance coverage, the loan server will buy it for me. I immediately called and informed them not to buy anything and submitted my documents SAME day. When I submitted on their portal, they redirected me to another email to send it to. When I sent my insurance documents to their requested email, I received no confirmation of receipt. I have emailed them (to all their emails and in the portal) to confirm receipt of my documents to no avail. They have no ombudsman or complaint number. I feel that I am being trapped into a situation where they will accuse me of not sending them my documents. Even though I did immediately. Simply, I want the business to confirm receiving my documents. They are required to.

  

  Business Response

  Date: 03/01/2024

  Dear ****** *******i:
  
  This letter is in response to the Better Business Bureau
  (“BBB”) complaint received on February 22, 2024 and correspondence received in
  our office on February 8, 2024, regarding the subject property. Newrez LLC
  d/b/a Shellpoint Mortgage Servicing is currently the owner of the account
  number ending in 1412. Newrez LLC (“Newrez”) began servicing the loan on
  behalf of the owner referenced above on or about November 1, 2023. 
  
  Please know that Newrez LLC takes its customer service and
  consumer protection obligations seriously and has dedicated staff to identify,
  resolve, and permanently correct operational deficiencies.  
  
  Your complaint states you received a letter informing you
  Newrez did not have proof of your hazard insurance and would purchase a policy
  for you. You submitted proof of coverage the same day. However, you have not
  received confirmation that your documents were received. You are requesting
  confirmation that your insurance documents were received.
  
  Pursuant to the insurance requirements in the enclosed
  Mortgage, 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. In addition, all insurance
  policies required by Lender and renewals of such policies shall be subject to
  the Lender’s right to disapprove such policies, shall include a standard
  mortgage clause, and shall name the Lender as mortgagee and/or as an additional
  loss payee. Enclosed is a copy of the Mortgage for your review. 
  
  Since your property is a condominium, you were required to
  provide both proof of your Homeowner’s Association (“HOA”) master hazard
  insurance coverage and unit owner’s (“HO6”) coverage for your property at the
  loan closing. Since insurance is required for your property, we will maintain
  insurance on the property by purchasing a Lender Place Insurance (“LPI”) policy
  when proof of your insurance policies has not been received.
  
  When active or sufficient proof of insurance is not
  available, Newrez is required to send notices requesting proof of insurance out
  no less than 45 days prior to purchasing insurance for a property. If needed a
  second notice is sent out 30 days later, advising once again of the intent to
  purchase insurance if proof of coverage is not received. This letter provides
  the homeowner with an additional 15 days to provide the needed proof of
  insurance before a Lender Placed Insurance (“LPI”) policy is purchased on your
  behalf.
  
  On January 9, 2024, Newrez sent a first insurance notification
  informing you the HOA policy on file had expired, and Newrez requested proof of
  coverage. The notice options to send your policy to Newrez and that if your
  proof of insurance was not received, a lender-placed insurance (“LPI”) policy would
  be purchased for the account.
  
  Newrez received the proof of coverage for the HOA policy
  number CND ******* with ******** ******* ********* *******. On January 30,
  2024, Newrez mailed a notice informing you the LPI was cancelled, effective
  November 19, 2023, as adequate insurance coverage had been provided. Please
  note, no disbursements were made from your escrow for the policy purchased,
  therefore, no refund is available.
  
  As of the date of this communication, the loan is current
  with the next installment due March 1, 2024.
  
  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.
  
  For any additional inquiries or assistance, please visit
  our website at **************. Once logged in, navigate to the Help icon at the
  top right corner and select Contact Us from the drop-down menu. Here, you can
  submit your questions and concerns, as well as upload any relevant documents.
  You can also find helpful information on our Frequently Asked Questions
  (“FAQs”) page. From the Help menu, choose FAQs from the drop-down menu for
  quick access to answers to common questions. Alternatively, you may also
  contact me directly at ************************ or by phone at ************,
  ext. ****, Monday through Friday from 8:00 am to 5:00 pm ET. You may also
  contact Customer Service at ************.

  

  Business Response

  Date: 03/25/2024

  Dear ****** ********:
  
  This letter is in response to the Better Business Bureau
  (“BBB”) rebuttal complaint received on March 5, 2024 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 behalf of the owner referenced above on or about November
  1, 2023. 
  
  Please know that Newrez LLC takes its customer service and
  consumer protection obligations seriously and has dedicated staff to identify,
  resolve, and permanently correct operational deficiencies.  
  
  Your complaint states expressed your frustrations at not
  receiving responses to your correspondences to Newrez. You are inquiring why no
  one responded to your correspondences.
  
  Newrez makes every effort to respond to correspondence as
  quickly as possible. However, by law, we are allowed 30 days. For immediate
  assistance, you are always welcome to contact our Customer Service department
  at *************
  
  Upon review, our records show, Newrez received your
  complaint on January 22, 2024 regarding Newrez not having proof of your Homeowner’s
  Association (“HOA”) master hazard insurance policy. Newrez responded on January
  23, 2024 providing you clarification and instructions on what documents were
  needed and how to provide them to us.
  
  On February 8, 2024, Newrez received a second
  correspondence regarding not receiving confirmation of your insurance documents
  not being received. This correspondence was responded to on March 1, 2024 with
  the BBB complaint received on February 22, 2024.
  
  Furthermore, on February 21, 2024, Newrez received a
  correspondence regarding your account being charged twice in mid-February. This
  correspondence was responded to on March 20, 2024 advising you of our findings
  regarding the drafted payments.
  
  As of the date of this communication, the loan is current
  with the next installment due April 1, 2024 of $4,000.13. We have enclosed copies
  of our prior responses 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.
  
  For any additional inquiries or assistance, please visit
  our website at **************. Once logged in, navigate to the Help icon at the
  top right corner and select Contact Us from the drop-down menu. Here, you can
  submit your questions and concerns, as well as upload any relevant documents.
  You can also find helpful information on our Frequently Asked Questions
  (“FAQs”) page. From the Help menu, choose FAQs from the drop-down menu for
  quick access to answers to common questions. Alternatively, you may also
  contact me directly at ************************ or by phone at ************* ext. ****, Monday through Friday from 8:00 am to 5:00 pm ET. You may also
  contact Customer Service at *************

  Customer Answer

  Date: 03/26/2024

  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint. 
  

  Similar to your previous email, you are not speaking to how Newrez failed to return communications rather you only point out the few times any communication was responded to (which was only done after vigorous outreach from me). I have submitted significant evidence to you that generally speaking no one returns communications. The 30-day return of communications does not make sense when you sent letters with deadlines under 30 days. Also whenever I message Newrez or send a message through the portal, I receive an automated message stating "Thanks for contacting us! We'll respond as soon as we can". There is no mention of 30 days. Also, you state that I can call the Customer Service number but when I do the representatives state that they can't answer any questions regarding mortgages. A representative informed me that the personnels that deal with mortagages do not speak with clients, it's only one-way communication, they informed me that I can send communications to them but they can't speak to me. The representatives themselves that I speak with have never been able to answer any of my questions and they were clear that they cannot help answer questions regarding the insurance requirement that was requested of me from Newrez. Read that again, even though I received a letter from Newrez requesting a document from me, the only customer service number available on the letter leads to a representative that cannot help. I could go on but you have the evidence and rather than correcting or acknowledging any wrongdoing (which would have resolved this matter immediately) you have chosen to go out of your way to deny any wrongdoing. 

  At this point, you have given me more than enough evidence to submit to FTC, Office of The Comptroller of The Currency, and the federal agencies that oversee loan servers. 

  
  
  
  Regards,
  
  
  
  ****** ********

• Initial Complaint

  Date:02/13/2024

  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 in contact with my new mortgage loan servicer regarding me keeping my loan modification plan as set up and agreed upon with ***** ***** prior to loan being transferred to Shellpoint. The said they cannot accept payments until they have all the documents which won’t be for 30-60 days. I am scheduled to make 3 trial period payments in Feb, March and April to be able to stay in the program and then after that the lender (Freddie Mac) will give me a final payment amount for the remainder of the loan. Shellpoint is unwilling to work with me on this. I don’t want to lose my house.

  

  Business Response

  Date: 02/23/2024

  When a loan is within the initial 60-day transition period, Shellpoint
  will not assess any late fees nor report late payments to the Consumer
  Reporting Agencies, 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. As
  mentioned above, the loan was transferred to Shellpoint on February 1, 2024.
  Please be advised, when a loan was approved for loss
  mitigation assistance and/or a loan modification, Shellpoint will receive the
  information from the prior servicer and will honor the terms given. Records
  show, Shellpoint received the information regarding your trial payment plan
  approval to modify the loan on February 15, 2024.
  According to the information
  provided by your prior loan servicer, ***** *****, you were approved to enter
  in a trial payment plan effective February 1, 2024 through April 1, 2024, which
  requires you to submit three payments of $957.59 each. The loan’s payment
  history confirms, the initial trial payment was received in our offices on
  February 16, 2024, which has been placed in the unapplied funds.
  
  During a trial period plan, funds received are credited
  toward the trial schedule, but held from posting until a full contractual
  payment is received. Once the full contractual payment is received, the funds
  are then posted to the oldest payment due. Any remaining funds are then held
  towards the next full contractual payment or until the trial has been
  completed. Once the trial plan has been completed, additional funds received
  will be held from being applied until the final loan modification is performed.
  These payments will be applied after the modification terms are applied to the
  account.
  
  Once you submit the last trial payment, we suggest you
  continue to make the trial payment amount until you are provided with the final
  loan modification agreement, and it is executed. Please keep in mind, the loan
  modification terms given by ***** ***** are solely proposed terms and have not
  been finalized. Therefore, submitting the final trial payment will not
  automatically modify the loan as you will be required to sign and return the
  loan modification documents so they may be executed and made effective.
  
  

• Initial Complaint

  Date:02/06/2024

  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 refinance my mortgage through ******** bank, ******** sent a payment it was returned by shellpiont. I called shellpiont the next day because shellpiont rejected the funds. Shellpoint stated it was because it was short $3600.00. The bank resubmitted with the additional funds. I made a payment the same day to avoid tje mortgage being late and now shellpiont is stating that my payment was factored into the payoff amount that ******** sent. This isn't possible because I made the payment after calling the new lender informing them of payoff amount.

  

  Business Response

  Date: 02/23/2024

  Regarding the appraisal fee
  assessed while you attempted to refinance with our offices, we reached out to
  our Originations Department to review the refinance process. The Originations
  Department confirmed that all appropriate steps were taken during the review
  and valuation process of the property and your application. The review was
  unable to locate the mortgage consultant informing you the appraisal fee would
  be refunded if the refinance application was denied. However, on February 16,
  2024, Newrez decided to reimburse you the appraisal fee of $675.00, as a one-time
  courtesy. Please allow seven to ten business days for the refund to reflect on your
  card.
  
  Regarding
  the payoff transaction for this loan, on January 29, 2024, a payment of $318,581.14
  was received. However, as the amount received was not sufficient; therefore, the
  funds were rejected and returned to ****** * **** *** on January 30, 2024, informing
  them an additional amount of $5,703.71 was required to process the payoff. On
  January 31, 2024, you spoke to a representative who explained why the payment
  was returned and you submitted a payment that was applied as the January 1,
  2024 monthly installment and requested an updated payoff statement.
  
  Please
  note, a payoff statement generated on January 31, 2024, showed the
  next due date as February 1, 2024, meaning this payoff statement factored in
  your January 31, 2024 payment of $2,245.29 applied as the January 1, 2024
  installment into the final payoff total.
  
  Please be aware, this loan has
  actuarial interest. Actuarial interest is earned and paid in arrears;
  therefore, the interest owed will be for 30 days regardless of when the monthly
  payment is received. If you make a payment prior to the due date, you will pay
  30 days of interest for the prior month's accrual. Likewise, if you make a
  payment after the due date, you will also pay 30 days of interest for the prior
  month's accrual. When paying the account in full, interest will be assessed daily
  from the last monthly payment received until the day the payoff is received.
  
  Records show, on January 31, 2024,
  a payment of $322,268.80 was received and applied as a payoff. On February 9,
  2024, Shellpoint received notice a payment of $2,245.29 was returned non-sufficient
  funds (“NSF”) by your financial institution with the reason authorization revoked.
  As a result, the payment of $2,245.29 was reversed and the payoff funds of $322,268.80
  were reversed and placed in unapplied funds, as the amount was no longer
  sufficient to pay off the loan and it became due again for the January 1, 2024
  installment.
  
  The review shows, on February 13,
  2024, the amount of $322,268.80 was returned to the title agency. On February
  15, 2024, a voicemail was left informing you the funds were returned and the
  amount of the payoff shortage. As of the date of this correspondence, the loan
  continues to be active and due. Enclosed for your review is a copy of the most
  updated payoff statement good through March 20, 2024 with a total payoff of
  $325,801.21 and a per diem of $27.52.
  

• Initial Complaint

  Date:02/06/2024

  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 d/b/a Shellpoint Mortgage Servicing purchased my mortgage in September 2023. Upon receiving my first statement from them I noticed that my escrow was not included in the payment due. I contacted them immediately and was told it was because they just purchased my mortgage and had not completed setting up my file. When I followed up a few weeks later it had still not been taken care of. I was then told it takes 14-30 business days to complete the file.
  
  When I received my next statement I expected the issue to be resolved, it was not. I paid the bill and contacted the company again. I was told again that the issue was escalated and would be resolved in 14-30 business days.
  
  It has now been 4 months since they purchased my mortgage and it is still not resolved. When I called again tonight I was told the same thing. I insisted on speaking to someone higher who could resolve the issue today.
  
  Upon speaking to a supervisor I found out that my escrow account was never set up and nothing had been resolved.

  

  Business Response

  Date: 02/26/2024

  Upon the
  receipt of your complaint, we confirmed the loan was originated with an escrow
  account and the monthly base escrow payment was estimated at $679.02.
  
  The review
  confirms, you contacted our Customer Service Department multiple times to
  ensure the escrow monthly payment was included with your principal and interest
  (“P&I”) monthly installment. Our service representatives explained the
  delay in showing the escrow payment could be a result of the recent transfer
  and they requested the escrow payment be reviewed and corrected. Our review
  found, each time a request was submitted, the necessary updates were not made.
  
  According to
  the review, when the escrow account was set up, it was for property taxes and did
  not include hazard or flood insurance. Further, the system was not properly
  updated to collect an escrow payment, but only reflected for the principal and
  interest monthly payment of $1,050.73.
  
  Please note, on
  January 25, 2024, a disbursement of $3,187.34 was sent to ***** **** for the
  taxes, causing the escrow account to become negative $1,328.78.
  
  On February 12,
  2024, an escrow analysis was performed and calculated an escrow shortage of
  $2,206.00 to be collected over 60 months at $36.77 a month. The monthly escrow
  payment was calculated at $677.43, once combined with the monthly escrow
  shortage, the overall monthly escrow payment became $714.20 and the monthly installment
  amount was adjusted from $1,050.73 to $1,764.93, effective April 1, 2024. Please
  know, you do have the option to pay the escrow shortage in full, which will decrease
  your monthly installment from $1,764.93 to $1,728.16. Enclosed for your review
  is a copy of the escrow analysis.
  
  Additionally,
  you may submit an additional escrow payment with your monthly payment to help
  reduce the escrow shortage mentioned above. Escrow payments may be submitted
  along with your monthly payment by mail, or by contacting our offices or
  accessing your account via our customer web portal.
  
  As of the date
  of this letter, the loan is due for the March 1, 2024 monthly installment of
  $1,050.73.
  
  Please accept our sincere apologies
  for the inconvenience this matter has caused. Newrez takes our customer service
  obligations very seriously and your concerns have been brought to the attention
  of the appropriate people within our organization. 

• Initial Complaint

  Date:02/06/2024

  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 wife and I got divorced in which I was awarded the house on October 10th 2023. We are both veterans but only her VA entitlement was used to purchase the home. After the divorce, in October 2023 I emailed Newrez I was going to assume the loan. My understanding is they don’t have a phone to be reached at. They provided me a 60-90 day completion timeline. I have return all requested emails and documents within 24-48hrs to keep the process rolling. It is now Feb 4, well over 90 days and communications is almost non existent. There are kids involved in the divorce and if this loan assumption isn’t completed in time, I will be forced to put the house up for sale and go through custody issues with my ex wife. When I ask for updates, I go weeks without them. Emails are signed with initials or random letters to hide actual people’s identity. I have been very patient but due to the lack of communication and results I have become very concerned that this will actually never been completed.

  

  Business Response

  Date: 02/24/2024

  Please be advised, the turnaround time for an assumption to
  be completed is 60 to 90 days upon the receipt of all the required
  documentation. Records confirm, the documentation to be able to process the
  assumptions was received on or about January 2, 2024. Although Newrez strives
  to complete the review within the above-said timeframe, delays may occur in the
  event additional documentation is requested.  Please understand, Newrez is unable to
  provide an approval prior to meeting all the conditions and evaluating the full
  application.
  
  Per the review completed, our records confirm, on February
  15, 2024, an email was sent to you informing you the assumption for the loan
  was approved and the Assumption Agreement is being drafted.
  
  For additional
  assistance, you may email the Assumptions Department at *********************** Please note,
  our Assumptions Department will respond to your inquiries regarding the
  process. 

• Initial Complaint

  Date:02/05/2024

  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 sold my home in September 2023. I contacted Newrez in regards to my 1098 tax form for mortgage interest. My inquiry was to ask if my 1098 was sent out and to what address since I hadn't received the document. I was specifically told that 1. They could not give me any information about my tax form regarding the property since it was no longer mine. 2. I needed consent from the new owners to access the account to get to my tax statement. Why would my tax statement be located with the new owners file? Why is my information as a former customer not be available? I am only asking Newez to provide me with my 1098 for the home I paid taxes, interest and mortgage on in 2023.

  

  Business Response

  Date: 02/23/2024

  Your complaint states you sold the property in September
  2023 and recently contacted Shellpoint regarding your 1098 tax form as you had
  not received it. Representatives were unable to assist you as you no longer
  owned the property and needed authorization from the new borrower to have the
  tax form sent out to you. You are requesting Shellpoint to provide you with the
  2023 Mortgage Interest Statement 1098 Form.
  
  Please note, when an assumption is completed, the prior borrower's
  information is removed from the loan and are no longer authorized to receive loan-level
  information. We sincerely apologize for the inconvenience this may have caused.
  
  Pursuant to your request, please find enclosed a copy of
  the 2023 Mortgage Interest Statement 1098 Form.
  

• Initial Complaint

  Date:02/02/2024

  Type:Billing Issues
  Status:

  ResolvedMore 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.

  Shellpoint Mortgage sent me a notice on 6-Nov saying that my HOA hazard insurance expired even though it didn't and I have proof of insurance for both the HOA-carried policy and our individual property policy effective as of Jun 2023. On 21-Nov, my HOA's insurance carrier sent proof of coverage (via fax) to Shellpoint and I also uploaded my personal homeowners policy to the link they provided in their notice (************************). On that page, it says, “Your insurance data was saved. If there are any difficulties processing your insurance data you will receive an email message at [my email address].” Never heard anything so I called a few days later to confirm and was told they received the online portal one I submitted and that the fax should be received soon based on when it was sent. I didn’t get an email that there was an issue processing the documentation I had shared.
  
  Next, I got a notice in the mail dated 24-Nov-2023 where they stated they cancelled lender-placed insurance effective 14-Nov and considered the matter handled.
  
  But of course, that's not all. While I was out of town, Shellpoint sent another notice (via snail mail) on 6-Dec claiming they could not verify coverage between Sep and Nov 2023 (even though both insurance policies were effective from Jun 2023 onward). Then in a 26-Dec notice, they said they were taking $970.55 from my escrow account for lender placed coverage. As of Dec 1, they sold my mortgage to another servicer which meant when I couldn't get through to speak to a person while calling their customer service line since my loan number was "inactive".
  
  A quick ****** search shows that Shellpoint is no stranger to these predatory practices regarding lender-placed coverage and unfortunately, it seems little has changed since their 2021 settlement for exactly the same behavior. Please review my insurance documents and refund the money you took from our escrow account for coverage we didn't need.

  

  Business Response

  Date: 02/12/2024

  After review for
  hazard insurance coverage on November 21, 2023, the unit owner’s (“HO6”)
  coverage, reflected an effective date of November 14, 2023 through November 14,
  2024. As such, it was determined there was a lapse of insurance coverage from
  September 1, 2023 through November 14, 2023. Hence, on December 6, 2023, a
  notice requesting evidence of your HO6 policy from September 1, 2023 through
  November 14, 2023 was issued. Because this documentation was not received, a
  notice explaining an LPI policy would be purchased was issued on December 26,
  2023.
  
  Pursuant to the
  terms of insurance requirements on the mortgage security instrument, for as
  long as the property is financed, it must be insured. It is the homeowner’s
  responsibility to provide proof of insurance when requested. Since your
  property is a condo and your loan closed after January 1, 2012, you are
  required to provide both proof of your HOA master hazard insurance coverage and
  unit owner’s (“HO6”) coverage for your property. Since insurance is required
  for your property, we will maintain insurance on the property by purchasing an
  LPI policy when proof of your insurance policies has not been received.
  
  After further
  review, it was confirmed the policy with **** for your HO6, policy number ************,
  was in fact effective June 23, 2023 through June 24, 2024. Hence, a lapse of
  insurance coverage through your HO6 **** policy did not occur. Accordingly, the
  LPI was cancelled effective as of January 8, 2024.
  
  Shellpoint
  would like to confirm, although a notice was sent stating the escrow account
  would be charged $970.55, the proper information confirming that your HOA and
  your HO6 coverage was received. Therefore, $970.55 was not charged to or
  deducted from the escrow account and no refund is due to the loan.
  
  The enclosed
  payment history confirms the escrow account was transferred to ** ******** ***** ***** ** *********, with a balance of $7,566.25.
  
  According to
  your current correspondence, you are unable to reach Shellpoint via phone as
  the loan has been transferred. Please be advised, the Interactive Voice
  Response (“IVR”) systems require you to verify your loan before being
  successfully transferred to our Customer Service Department. However, you may
  follow prompts to bypass the IVR verification and would be transferred to our
  Customer Service Department for verification.
  
  For additional
  information regarding your loan, please contact your new loan servicer Chase to
  the following mailing address or toll-free number listed below:
  
  ** ****** ***** ***** ** *** *****
  **** **** ********
  *** ****** ****
  ******* ** *****
  Toll-free number: ************
  
  Please accept our sincere
  apologies for any inconvenience this caused regarding the LPI. Shellpoint takes
  our customer service obligations very seriously and your concerns have been
  brought to the attention of the appropriate people within our organization. 

  Customer Answer

  Date: 02/13/2024

  
  
  Better Business Bureau,
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

  I sent both insurance policies to Shellpoint at the same time so the miss is 100% on their end for not validating the dates of coverage on all documentation provided. 

  I appreciate confirmation they did not charge our escrow for the unnecessary insurance. Since they transferred my loan to a new servicer in December, I had no way of knowing the insurance was cancelled in January - I did not receive any communication from them to this effect until now, after following up. 

  
  
  
  Regards,
  
  
  
  ******* ******