Shellpoint Mortgage Servicing Reviews 356

This Company is a complete rip off besides being inept they don't do anything correct the interest rates have gone down but do you think they lowered them at Shellpoint absolutely not had a big discussion with them today I believe a class action suit should be started because we all are getting charged a higher rate than the fed rate is showing now I'd be suspect !!!!! awful company and service

I wish there was a zero star option because I would definitely give them a zero. This has been the most incompetent mortgage company we have ever dealt with EVER! They bought our HELOC so we didn't have a choice in the matter. We closed the HELOC yet they won't provide us documentation of proof of payoff. AND their customer portal is just as bad! Stay away from them!

Shellpoint will leave you homeless. God forbid you go through something devastating with your home such as a flood, fire etc. If that isn’t heartbreaking and stressful enough, you can count on shellpoint to NOT do their job of releasing the insurance check so that you can repair your home. Our house flooded May 23, 2024 and insurance issued our check payable to both us and shellpoint late June. Since then, we have been waiting on shellpoint to release our funds so that we can repair our house that isn’t livable. We have already had to extend our housing with ELA and insurance informed us we cannot extend it again so our family will have nowhere to live as of December 23rd. We are trying so hard to get our money so that we can fix our house by that time, but shellpoint will not release our money and gives us the run around. This is the most unethical company I have ever encountered. Beware!!!

P.s I will hire an outside adjuster, a lawyer and will demand interest.

Edited: called this morning 10/17 and was told our check is in the mailroom waiting for pickup which is the same thing we have been told for a week now. She then said, “it just changed to mailed” then proceeded to give us a fake tracking number which they also have tried doing once before. Everytime we call(which is daily) they give us the same scripted lines and excuses. Other homeowners may give up on getting their money, but I will not. This is why I have paid my homeowners insurance. This is money owed to me that shellpoint is trying to steal.

My next step is to file complaints with consumer financial protection Bureau, federal trade commission and the state consumer protection office. Already contacted BBB. I urge all of you that see this to do the same!

IF YOU CAN GET A DIFFERENT COMPANY DO IT QUICKLY. My loan was sold to them and on every level it is ridiculous. They did not pay my insurance with ecrow and then threatened me. The did not pay my taxes and told me it would be ok if it wasnt paid on the due date. No one can help with anything. You will call and if you can get through to a person ...good luck.

Horrible Company. Call the Consumer Financial Protection Bureau at (855) 411-2372 if you have a problem with them. It's a free service the Government provides and they resolve issues for you fast. I paid $525 for one full year of home fire insurance in escrow and they were given a copy at the close of escrow. A debt collector called me early one Sat morning to tell me I was in serious debt to them because I did not pay $1,000 per month of THEIR imposed Fire Insurance which amounted to $6,000 and they were ready to start foreclosure. I already had Fire Insurance but they were sending the statements to the wrong address. Calling them was a waste of time. You get someone from an inbound call center working from home, they cannot transfer you to the right dept. nor can they call you back. I fought with them for months and got nowhere. I called the Consumer Financial Protection Bureau and they got the $6,000 claim off my bill in 2 weeks. Their number is (855) 411-2372. I noticed that NewRez has filed a lot of foreclosures on homeowners. I hope this is not for the same kind of reason.

This is the worse company I have ever had to deal with. My father’s mortgage was sold to this company and he suddenly passed away. I have since sold the house and just needed the payoff amount and was told to send in documentation showing I could deal with this matter. 2 weeks have passed and keep getting told my documents are under review and has been sent to escalation to get it done. I don’t know what they are up to but this has got me heated. Whatever you have to do stay away from this company.

I would give negative stars if I could. These are lying crooks. I had always paid my monthly mortgage in two parts: every two weeks. It was not a problem until late 2023. All of a sudden, my payments were "sent to the wrong address" and not received in time. All my payments were sent via autopay through my bank. I think someone there is embezzling money or they were using my funds to pay towards other people's accounts. After I paid them off, they reported that I was 30 days late on my payments.

My mortgage was sold to this company, and I already know this is going to be bad! I am unable to make my payment due to no customer service, the 800 number doesn’t recognize my phone number, ss# or account number. My only option to send payment at this point is US mail. I have yet to receive a statement or e-mail from them. I’m sure they will tack on a late fee, as that’s how these bottom feeder companies roll. Will be refinancing ASAP to get away from these low life’s. Please don’t bother to send your automated AI generated apology for my poor experience with your company under my review. I’m aware that no human at your office actually cares.

Today is 10/15 and I still don't have my money. I originally posted this on 10/04. It has been over 10 days. Shellpoint took out 2 payments from my account when they clearly had permission to only take out one. With their low star ratings it looks like the have a company problem.

I am having issues trying to get a payoff letter of my Shellpoint mortgage. Customer support said they have no way of escalating, no way of communicating with other team which handles payoffs, and no way to communicate issues/problems internally for improvements/enhancements.

On 9/12, I asked requested payoff amount online, to be delivered via web.
On 9/26, the company I am refinancing with requested payoff amount.
Neither of us got anything.

Tuesday 10/1 I called. Person told me they would email the payoff over to the refinance company right now, and it should take 30-60 mins. Nothing was received. Never got a call back that there was any kind of issue - especially concerning that we expected within an hour.

Wednesday 10/2 - I called. Person told me that an "email might take 5 days, a fax is quicker, let me do a fax". When she tried to put in the system, it said it would take up to 5 days to process. I guess because I had a discharged bankruptcy. I told her that was the message I got on 9/12, but never received anything back then. She said she would put in the request again. But the 9/26 request should be completed on 10/3 (today), as that is 5 days. Never got it today.

Today 10/3 - I called. Person I spoke with said they would email me a letter now. Then he got the same message and told it would take 5 days. I told him it's already been 5 days from 9/26 request, and way past that from the 9/12 request. He said he didn't see a request on 9/12. The people from Tuesday's and Wednesday's call did though. he said he would submit.
I told him we are doing the same thing over and over and expecting different results. I asked to speak with a supervisor - he said he can't do that. I asked him to escalate - he said he had no way of doing that. I asked to speak with whoever is supposed to work on this - he said he didn't know and had no contact info.

I am trying to refinance. If this continues, I lose my lock. And rates and payment info will go up.

I totally agree I have to stay on them monthly they’re constantly messing up something on purpose. This month it was not applying my additional principal which they also have done before. Of course it’ll take 5 to 7 days to supposedly fix it but it never gets done in that time.

NO customer service
Standard default to 'oh I see, let me talk to my Super'
10 payments now made in 9 months (since my new mortgage loan was transferred to Shellpoint), two calls by Bank of America to resolve the issues with the online bill bay, and $450 in late fees later, I finally have everything 'resolved' to make sure that the issue will not occur again.
SHELLPOINT is a Debt Collection Agency, a Predatory Lender, and completely inept as a mortgage 'Service Provider.'
I am counting down the days to re-finance as rates continue to fall, so I can completely vanquish this company from my life. At the same time, please place my name at the TOP of the list of participants when the Class Action Lawsuit eventually moves forward against Shellpoint Mortgage, New Rez, or any other entity involved in this approach to resolving ANY type of issue in the bill payment process.

I have had my loan since 2021 and at once decided to sign up for the biweekly payment plan and automated payments. I always do this with my mortgage loans to save some interest via two extra principal-only payments per year (one full payment per year) and thereby shorten the duration of the loan - and after signing up to this, I will normally forget about it and let the automation take place.

But during 2023, only one extra principal-only was applied. I addressed this, spent many hours with their support (educating them in how a bi-weekly plan works), documenting the payments and being stressed about their mishandling of my money - and eventually got an apologetic letter from their compliance department that is was fixed in April 2024. The fix was reversing all activities back to August 2023 (the missing payment) and reapplying the correct payments (including submitting a new 1098 form for taxes). Now in September 2024, I can see the cause for the issue still has not been fixed. I have still not received the first of my two Principal-Only payments in 2024, so I just complained about that. It almost feels like my account is being managed manually by a human and not a system. I feel bad for the people that does not have options and stuck with them. Fortunately I got a few options, I am considering. We did not choose Shellpoint, but the loan was sold to them. I am considering contacting the owner of my loan directly and see what options, he can provide me - or complain to CFPB for Shellpoints negligence.

I would give it 0 stars if I could. Absolutely a terrible company. To remove private mortgage insurance, even when the removal process is followed perfectly, is set up to maximize payments and extend the process. The website has instant messaging so they can get payments from you, but when it's time to write to them they will only respond via snail mail. Terrible service and another example of how the american system is setup for businesses and not consumers. Terrible.

Terrible website. Its been malfunctioning for 2 days. Also, no amortization table online for loan payoff information. Come on Shellpoint, its not 1990 anymore, update your systems!

THEY RAISE MY MORGAGE PAYMENT BY 277 WITHOUT ANY EXPLANATION

I have had nothing but nightmares dealing with Newrez (ShellPoint Mortgage Servicing). This company has caused me significant financial harm and stress through their gross mismanagement of my mortgage account. They have improperly charged me for escrow, misapplied my mortgage payments, and even reported inaccurate information to the credit bureaus, damaging my credit score. Despite my countless attempts to resolve these issues, Newrez (ShellPoint Mortgage Servicing) has shown a complete lack of accountability and responsiveness.

If you are experiencing similar issues with Newrez (ShellPoint Mortgage Servicing), I strongly encourage you to take action and make your voice heard. Here are some resources that can help:

• File a complaint with the BBB
• Contact the Consumer Financial Protection Bureau
• Reach out to Baron Silverstein at NewRez LLC using LinkedIn
• Review Newrez (ShellPoint Mortgage Servicing) Leadership and hold them accountable
• Contact your State Attorney General
• Seek legal advice immediately
• Contact WYFF News 4 Investigates

Something needs to be done to hold this company accountable for its actions. They must stop ripping people off! I am hopeful that together, with the involvement of these organizations and individuals, we can bring about meaningful change and relief for myself and others affected by these disgraceful practices.

Avoid Newrez (ShellPoint Mortgage Servicing) at all costs if you can—this company is nothing but trouble!

Shellpoint is beyond incompetent. They don't answer customer emails except to snail mail me letters stating they need more time to answer (been waiting a month). Their chat rep doesn't understand how payment calculations work on HELOCs and gave me an answer which is completely wrong and then disconnected the chat before I had a chance to respond. Their payment portal shows they miscalculated my payment by more then $200 (yet their own paper copies of the payment agreement shows the correct info, so I KNOW they have it!). Their billing statements have had errors every single month, from my previous balance, to not reflecting payments, to having the wrong statement date (the same statement date on multiple months' statements), to not having any amount due, and identical interest charges month over month even though my balance dropped by more the $10,000. The payment history page inexplicably shows a higher interest charge paid than what was on my statement and did not apply any of the payment to principal, despite my payment being significantly more than the interest charges (that they inaccurately calculated anyhow.)

Why can't we give zero stars? I've spent way too much of my time trying to get Shellpoint to correct an error they made. Finally spoke to a live person! She reviewed the information and said I would be able to see corrected Escrow "within the hour". It's been five days. No confidence it will be corrected. Having to spend more time with certified mail, emails, etc.

Received a reply: "Hello Phyllis, thank you for bringing this to our attention. Our team is actively working to resolve your issue. If you have any further questions, feel free to reach out to a customer service representative via the chat on your online portal or by calling 800-365-7107."

I tried online chat - "A chat session cannot be started."

I tried calling - 3 times. Each time I followed the prompts to try and talk to a live person. Each time I ended up in a loop. Never spoke to a live person.

I would get negative starts if I could. Waiting over a month to get the reply "we are actively working to resolve your issue" is beyond ridiculous.

I have a property that sustained a loss that was covered by homeowner's insurance. I thought the worst was over after the police report, damages were repaired (paid for out of pocket) and insurance submitted payment for the claim. But the real horror has been dealing (or trying to deal) with Shellpoint as the insurance payment was made out to me and the mortgage holder.
I contacted Shellpoint to find out how to get the check cashed. I called Shellpoint twice and was given four separate pieces of erroneous information.
1. They insist a human will answer the Loss Draft Department phone (877) 826-4433, but they are mistaken and unwilling to do anything further to assist me. I suspect this is a simple error but the unwillingness to investigate and assist is disturbing.
2. They gave me the street address instead of the mailing address
3. The street address they gave me had the incorrect zip code
4. They use a subcontractor to manage this process and gave me the wrong email address for Proctor as I repeated “ProctorLT” phonetically and they confirmed, when it was actually “ProctorLP.” I discovered this error when email bounced back and did some online research to try and figure out where an email should go.

This plethora of errors and inability to reach a human in the Loss Draft Department made me extremely uncomfortable with this process. However, I followed their instructions, setup claim through online portal, signed the check, mailed it to them and can see online that they now have the check.

I just called to find out when I could anticipate the returned check. However, the problems keep compounding:
1) I am left on hold for 32 minutes (i had a timer on phone)
2) When I got to an agent, they researched and claimed to not have received check.
3) I insisted that the portal shows a digital copy of check, so they must have it somewhere. She then went back and said the system just updated and she could see it now.
4) I was informed it will take a month for Shellpoint to endorse and return the check. (8 additional business days to review and 10 business days to mail is over 3.5 weeks so am rounding to a month)

It is unfortunate that many of us are stuck with Shellpoint when our mortgages are sold. We are fortunate there are federal and state financial regulations as I can't imagine how much worse this experience would be without some legal guardrails. But, if you have a choice, you may want to consider any alternative mortgage servicer.