Mortgage -- Trouble during payment process -- Complaint #11224283
Complaint Overview
Complaint ID: 11224283
Company: Shellpoint Partners, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Private mortgage insurance (PMI)
State: Illinois
ZIP Code: 601XX
Date Received: 2024-12-19T12:00:00-05:00
Date Sent to Company: 2024-12-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On May of the present year, I requested to get remove from my mortgage the PMI ( Private Mortgage Insurance ) this under the Homeowners Protection Act of 1998 which grants me the right to request the PMI to be remove once I have reached the 80 % loan to value ratio. Newrez ( Mortgage Company ) sent me a letter to sign, date and submit along with a check of $ XXXX to get an appraisal done on my home. I completed the steps and on XX/XX/XXXX, and License Appraiser was sent to my home by Newrez. The appraisal was done and submitted on the same day to Newrez with a home value of $ XXXX at that moment my mortgage balance was $ XXXX. 80 % loan to value ratio would be at $ XXXX which I was {$3600.00} below that. However, Newrez decided to deny the removal of the PMI. On XX/XX/XXXX, I sent an appeal letter ( attached ) they still denied the removal of the PMI from my mortgage, violating my rights, Federal and State laws. I spoke on the phone with many customer representatives from Newrez about my case and all of them said that I do qualify to get the PMI remove, however it did not happen, I also have a chat conversation with a Newrez representative on XX/XX/XXXX which have said the same thing. ( Conversation Attached ) I truly appreciate your hard work on helping us small consumers to have our voices heard and rights respected. Thank you and XXXX XXXX!
Frequently Asked Questions
What is Complaint #11224283 about?
Complaint #11224283 was filed against Shellpoint Partners, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-12-19T12:00:00-05:00.
How did Shellpoint Partners, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Shellpoint Partners, LLC?
Yes, visit the Shellpoint Partners, LLC company profile at readthecomplaint.com/company/shellpoint-partners-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.