Shellpoint Partners, LLC Consumer Loan Complaint

Shellpoint Partners, LLC Consumer Loan department,

Installment loan Taking out the loan or lease New York

I am the borrower of New Penn Financial D/B/A Shellpoint Mortgage Servicing. I entered into a contract of sale, on -/-/-, with the purchasers selling my co-op unit located in -. After the Co-op Board approved the sale, my attorney started to contact Shellpoint, on -/-/-, requesting for the pay-off arrangement. Shellpoint shall locate the collateral documents ( original Co-op Stock Certificate and Proprietary Lease ), and notify us, so that we could schedule a closing, at which Shellpoints will get the whole loan payment and I could transfer the title of the Co-op unit to the Purchaser. Normally it takes about two or three weeks for the bank to complete this step. However, despite repeated inquires made by my attorney, we did not see any efforts by or good faith in Shellpoint in processing the payoff. They simply responded they have not located the collateral documents yet


On -/-/-, my attorney, after numerous efforts, finally found out who represents Shellpoints and started to contact Shellpoints ' attorney for the pay-off arrangement. However, up to date, Shellpoint still could not provide either the collateral documents or the Affidavit of Lost Documents. With legal representation, Shellpoints should be fully aware of the consequence of such a serious delay. The delay of Shellpoint has not only cost me extra interest and penalty charged by Shellpoint, but also 6 months ' maintenance charge of $ -/month, as well as extra legal fee and penalty charged by the Cooperative Corporation and my attorney. Besides of this, the Buyer may walk away from this deal any day. It will be beyond the imagination of any reasonable mind that CFPB allow a borrower be abused by a licensed commercial lender in this manner. It 's a nightmare!