Mortgage -- Closing on a mortgage -- Complaint #8181269
Complaint Overview
Complaint ID: 8181269
Company: Shellpoint Partners, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Closing on a mortgage
Sub-Issue: Closing disclosure or other related disclosures
State: Pennsylvania
ZIP Code: 19064
Date Received: 2024-01-18T12:00:00-05:00
Date Sent to Company: 2024-01-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XXXX XXXX XXXX we purchased a home. It consisted of two mortgages being serviced by XXXX XXXX XXXX XXXX ; they designated XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX as nominee for their successors and assigns. XXXX XXXX XXXX XXXX ended up being involved in a lot of deceitful and unethical practices ; as a matter of fact, because we were young and for the most part, clueless about the financial aspect of home ownership, my wife and I were goaded into having two mortgages on the property. The loan agents also assured us that having two mortgages was a temporary solution and we would be able to refinance both mortgages into one mortgage within a couple of years of maintaining the mortgage. Over the years the mortgage was assigned to multiple entities to which they corresponded with us through postal mail ( USPS ). One of those entities happened to be Ditech Financial ; they took over both payments in accordance with the original mortgage agreement. In XXXX we tried to refinance the mortgage, like what was told to us in XXXX The companies that we contacted were adamantly against refinancing the loans and for good reason. We eventually went back to Ditech Financial and asked them to refinance the mortgages. They stated that they would not refinance the loans but that they would modify them. They sent out a modification letter, which we still have, and told us that we wouldn't have to do anything except pay a specific amount and maintain that amount for three months and our new payment would automatically go into effect, which we did. So to our understanding they combined both mortgage payments into one mortgage payment because 1. ) The single mortgage payment was $ XXXX {$60.00} less than the combined double mortgage payments. 2. ) The original mortgage was extended 10 more years essentially making it a 40 year mortgage. 3. ) They didn't mention any other payments in the letter nor did they send out any additional letters for the second mortgage. We found out after closing and after obtaining the book & page records from the Recorder of Deeds of XXXX XXXX and the title report that Ditech Financial was not eligible to collect money for the second mortgage because they were never assigned the second mortgage, which should be considered fraud.
Frequently Asked Questions
What is Complaint #8181269 about?
Complaint #8181269 was filed against Shellpoint Partners, LLC regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2024-01-18T12:00:00-05:00.
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.