Mortgage -- Trouble during payment process -- Complaint #5898290
Complaint Overview
Complaint ID: 5898290
Company: Shellpoint Partners, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
State: Colorado
ZIP Code: 816XX
Date Received: 2022-08-19T12:00:00-05:00
Date Sent to Company: 2022-08-19T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XX/XX/2022 I received a notice from NewRez/Shellpoint regarding my loan XXXX. The notice stated I was past due on the payment due XX/XX/2022. I reviewed my loan online and noted that I was also considered past due on the loan for XX/XX/2022. My payment amount was {$1400.00}. On XX/XX/2022 I called NewRez and spoke with a male representative. I recorded the phone call and it lasted about XXXX minutes. During this conversation the representative explained to me that my payments I made in the amount of {$1400.00} were applied to principal and not to my due date amount. The representative said this was because of an escrow difference and " their system '' applies it towards principal and then considers the customer late for the amount due payment. I received a {$50.00} late fee charge. I expressed my concern that NewRez would not notify me sooner than XX/XX/XXXX of the late payment. NewRez stated they attempted to call me at a " work '' number and was unable to reach me. Despite putting my cellphone number on my original loan application, somehow NewRez determined that they should call an automated work number without dialing the proper extension or trying to get a hold of a switchboard operator to reach me. I filed a complaint with the company regarding their lack of attention to this matter. The representative took my complaint, and assured me that he would apply my payments towards my total due amount and reverse the late fee. I continued to check my account waiting for the changes to take place. On XX/XX/2022, I saw that the changes to my account were never applied. Additionally, a second late fee of {$50.00} was applied. I called a second representative, escalated my complaint to a supervisor. The supervisor assured me that the changes would be made. I stated my position that NewREz/Shellpoint is purposely deceiving customers when they accept our money, apply it to principal, then charge us a late fee for a past due payment. I'm concerned about the ethical implications this presents on NewRez. If this can happen to me, it is probably happening to hundreds, or thousands of other customers and NewRez is benefiting from the late payments of thousands of their " customers ''. In my case, I'm savvy enough to know better. I'm concerned about the millions of customers who are unethically treated by mortgage companies such as I was by NewRez.
Frequently Asked Questions
What is Complaint #5898290 about?
Complaint #5898290 was filed against Shellpoint Partners, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-08-19T12:00:00-05:00.
How did Shellpoint Partners, LLC respond to this complaint?
The company responded with: "Closed with monetary relief". 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.