Mortgage -- Trouble during payment process -- Complaint #5371524
Complaint Overview
Complaint ID: 5371524
Company: Shellpoint Partners, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
State: Michigan
ZIP Code: 48174
Date Received: 2022-03-26T12:00:00-05:00
Date Sent to Company: 2022-03-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
Complaint about mortgage company withholding surplus disbursement of XXXX which indicates understated escrow balance for a month. During the period, escrow balance reflected XXXX less. I received annual escrow analysis indicating escrow surplus but no check! Mortgage company requires a cushion of XXXX ( or {$1100.00} ) of anticipated payment of additional funds held in escrow in order to prevent balance from becoming overdrawn when an increase due to taxes & insurance premiums. Despite surplus overage disbursement and required cushion, total mortgage payment increased from {$1500.00} to {$170.00}. Interest rate is fixed at 4.12505 %. This situation continues to occur regardless of increase of monthly payments applied to escrow. Last year was over paid ( surplus ) of {$1300.00} with an increase of monthly payments from {$1500.00} to {$1500.00}.
Frequently Asked Questions
What is Complaint #5371524 about?
Complaint #5371524 was filed against Shellpoint Partners, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-03-26T12:00:00-05:00.
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.