Mortgage -- Trouble during payment process -- Complaint #7406307
Complaint Overview
Complaint ID: 7406307
Company: Shellpoint Partners, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: New York
ZIP Code: 14043
Date Received: 2023-08-15T12:00:00-05:00
Date Sent to Company: 2023-08-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
Newrez LLC simply can not process my mortgage correctly. Per their automatic payment system, I can send in more money than required to satisfy the mortgage and the balance of the overpayment will go to principal. My current monthly payment is {$1400.00}. I am sending in biweekly payments of {$1900.00} with the express intent that the interest and escrow be paid with the balance going towards the principal. In the month of XXXX there were three withdrawals made totaling {$5700.00}. The interest was {$110.00} and the escrow was {$560.00} leaving {$5000.00} to be paid towards the principal. The last payment of {$1900.00} was left in a " Unapplied Payment '' status so I started a chat session with a customer service rep that said she was going to apply it towards the account. A few days later I checked my account payment history and there are a series of bizarre and bewildering transactions that make little sense to me, and it ends up with the principal balance being incorrect. The balance of the mortgage at the beginning of the month was {$53000.00} so after paying {$5000.00} towards the principal, the current principal balance should be {$47000.00}, but they have it at {$48000.00}. They claim that they have up to 30 days to respond to inquiries which is completely unacceptable to me when I'm discussing something as important as my mortgage and would like to find a better solution to pay off my mortgage ASAP.
Frequently Asked Questions
What is Complaint #7406307 about?
Complaint #7406307 was filed against Shellpoint Partners, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-08-15T12:00:00-05:00.
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.