ComplaintsforNewrez LLC

• Initial Complaint

  10/06/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  1. Lack of communication on refinance in process. I started the process several months ago and am trying to get a closing date. I call and email and no one answers or gets back to me. My rates are locked through 10/22 and I'm worried things will need to be done over. I was told this would be a quick close.2. Misreporting on my credit report. I was in constant contact during my loan mitigation and told there would be no impact to my credit. It's now showing 2 late payments and they are saying they're valid even though I was told nothing would show up as late if I continued making the payments, which I did and also sent them proof of the payments.

  

  Business response

  11/05/2021

  Unfortunately, we are not able to accommodate the your request to refinance their loan at this time. Shellpoint Mortgage Loan Servicing (SMS) has responded to you in writing regarding your credit dispute. If you should have any further questions about your current loan, you may email SMS at [email protected]. Thank you for your feedback.

  Customer response

  11/22/2021

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: I was approached by the business to refinance. My credit was pulled, I paid $600 for an appraisal. They began inaccurately reporting late payments on my account, then repulled my credit and now are denying the refinance. They've ignored my calls and emails for weeks. This is the only response I've recieved. I think they are intentionally reporting negatively to avoid the refinance that they initiated. 
  
  Regards,
  
  *************************
  

  

  Business response

  12/01/2021

  According to our records you applied for the refinance on August 23, 2021 while also authorizing Newrez to pull your credit and you agreed to an appraisal.  Your current loan is serviced by Shellpoint Mortgage Loan Servicing, and we attached two of the written responses that that were mailed to you regarding your credit dispute.  Additionally,  we contacted Shellpoint Mortgage Loan Servicing and requested them to contact you directly to discuss any further concerns you may have about your current mortgage loan. 

  **forwarded the *** response to BBB to forward to customer (file was too large to attach)

• Initial Complaint

  10/05/2021

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  In March 2021 my husband & I applied to New Rez LLC for a re-fi of our present 2020 home mortgage. Our intent was to apply a $100,000 payment to our mortgage balance and to adjust our interest to 2.5%,The only known change in our credit history was that, due to the sale of our prior home, we now had more money in the bank . We were told that the process would be quick and easy. Closing was scheduled. each month, from April to August. Each month, as closing approached , new information was requested. The last "scheduled" closing was August. Very sadly, my husband, died. on August 22. Because, the only change in my income was the loss of my husband's social security, I decided to continue this application on my own. After some heated (telephone) exchanges, my loan officer, led me to believe that New Rez would stand by the original 2.5% interest rate. I received the initial paperwork last week. I saw no guaranttee that the 2.5% rate would be honored..

  

  Business response

  11/03/2021

  Newrez made contact with our customer, and we consider this matter resolved.  The borrower should remain in contact with their processor and if they should have any further concerns they can email us directly at [email protected].  

  

  Business response

  12/16/2021

  You are scheduled to close on your refinance on December 20, 2021.  On behalf of Newrez, we apologize for any delays that you experienced.  Thank you for your feedback. 
  
  

  Customer response

  12/28/2021

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  **** *****
  

• Initial Complaint

  10/02/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Refinance application with New Rez started 6/26/21, still not completed as of 10/2 due to NewRez processing. (Reference loan #*********** - *************************) I chose NewRez because it is my current mortgage company and they were aggressively marketing to me to refinance. I request either a close date or a refund of appraisal fee ASAP so I can go with another mortgage company. I responded to every document request within 24 hours. Promptly paid the $525.00 appraisal fee. Was asked to submit same documents multiple times (told they expired - it took them so long to process). SSN wrong on documents, even after correction; incorrect account numbers; sent sensitive documents thru unencrypted email instead via their portal. Most of the time phone calls were not accepted, some did get thru. Received some replies to emails, told was almost done; no substantive correspondence from them for a month now.

  

  Business response

  10/20/2021

  On behalf of Newrez, we apologize for the delays and lack of follow up you experience while trying to complete your refinance. Unfortunately, we were unable to reach final approval for your refinance. The loan was denied, and the denial notice was mailed out on September 30, 2021.  Newrez will accommodate your request to refund your appraisal in the amount of $525.00.  You will receive your refund check by mail within the next 30 days.  If you should have any further questions, please email us directly at [email protected]. Thank you for your feedback.
  
  

• Initial Complaint

  10/01/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Attempted to refinance 2 properties with this company beginning last year. One loan they already service. We were declined on both because we are self employed and took the PPP loan. Obviously this is at their discretion. However, we have received non stop re-fi offers and I have called and emailed multiple times asking them to desist. In California if you ask a company to quit spamming you, they have to do it or start paying a fine every time they contact you. I have filed a formal complaint with them and I am hoping with your help we can get some relief.

  

  Business response

  10/08/2021

  Upon receipt of your BBB inquiry on October 1, 2021, we requested for your information to be removed from Newrez origination promotional marketing. Please note that it can take up to 12 weeks for direct mailings to be removed.  If you have any further questions, you may email [email protected].   Thank you for your inquiry. 
  

  Customer response

  10/25/2021

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  **** *****
  

• Initial Complaint

  10/01/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Newrez is our lender we start refinance process in June 2021 we get approved and close the loan at September 24 they send notary person to our home everything is sign complete send to title company we were happy that about and Wednesday September 29 loan officer call me to ask about some issues that we may not be approved we already stressing because of this process refinancing they are asking for a lot documentation letter why is this why is that we are not behind a payments we are not taking money out we want to keep home just make litle lower payment I did report this to their advocate team I didn't see resolution about after that they send me new offer to consolidate my other bills to one loan what I never ask for it and when I called nobody helping me with this matter very unprofessional we sign and close the loan but we still don't know what is going on if you can help we are be so grateful to be honest I never experienced something like this ever

  

  Business response

  10/08/2021

  Unfortunately, we were unable to approve your refinance.  We have attached a document that you signed with the initial application package.  You attest at the beginning of the transaction whether you have/haven't opened new debt based on the inquiries that show up on your credit report.  Newrez performed a soft credit pull to identify new debt. The soft pull on this transaction confirmed that both inquiries did result in new debt, which resulted in you no longer qualifying. You were informed of the denial and the reasons for the denial. Your denial letter should be delivered within the next few days by regular mail.  If you should have any further questions, you may email us at [email protected]. 

• Initial Complaint

  09/29/2021

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Will not stop sending promotional mail to my mailbox. I have emailed and called 7 times asking them to stop. Every time they assure me it will stop, but more mail arrives. The most recent times I called them were: May 12, 2021: Spoke with ***************************** May 24, 2021: Spoke with ****** and ******* ***** June 21, 2021: Spoke with *********************** But the promotional mail continues to arrive. I have received letters on Aug 6, Sept 10, Sept 27.

  

  Business response

  10/01/2021

  Upon receipt of your BBB inquiry September 30, 2021, we requested for your information to be removed from Newrez promotional marketing and confirmed that ********** Mortgage Servicing removed you on September 29,2021 per your phone call request.  Please note that it can take up to 12 weeks for direct mailings to be removed.  If you have any further questions, you may email [email protected].  Thank you for your inquiry. 
  

• Initial Complaint

  09/28/2021

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  This company talked me out of refinancing with somebody else then ran my credit checked everything and was approved and just needed the appraisal done on my house 6 to 7 months later they finally came out to do the appraisal well they took so long to do the appraisal that my credit score changed and said I couldn’t do the refinance but they went ahead and charged me for a appraisal fee and said I can’t get it back 6 months later.

  

  Business response

  10/15/2021

  On behalf of Newrez we apologize for the delays and lack of communication you received during your attempt to refinance your home.  Unfortunately, we were not able to approve your loan due to a decline in your income.  As courtesy, we will refund your appraisal fee in the amount of $650.00.  You will receive a check in the mail within the next 30 days.  If you should have any further concerns, you may email us directly at [email protected].   Thank you for your feedback

  Customer response

  10/25/2021

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  **** ****
  

• Initial Complaint

  09/16/2021

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  Hi I started my application since January 2021. I have provided all the documents and informations they need. Everything was all approved include house appraisal by February 2021, but my closing date keep push back due to theirs end. They have been asked me updated bank information and employment once a while in this 8 months. My closing date was rescheduled many times due to their end by different excuses. I do have a job that I need to take time off for closing date. Finally I got a official closing date on July 2021 and the loan amount on the closing disclosure was incorrect. They told me they will reschedule my closing soon by just need to correct the loan amount. After one month, they finally give me a closing date on 9/13 and they canceled it again on 9/12 by another excuse again. I feel street out and wasting my time in these 9 months. If they can’t closing my file soon, please refund my apprised fee$650 and I can look forward with another lender. Thanks

  

  Business response

  10/08/2021

  Upon receipt of your BBB inquiry, we escalated your concerns to our processing management team.  We accommodated your request for contact and your loan has now closed and funded.  Thank you for your patience and feedback.  If you should have any further concerns, you may email us at [email protected]. 

  Customer response

  10/08/2021

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.  My refinance was finally closing by 9/30/2021 and thanks
  
  Regards,
  
  ******* ***
  

• Initial Complaint

  09/15/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  NEWREZ has had my loan for many years. They continue to do whatever they wish. I refinanced my mortgage many years ago and I don't remember being informed that is was a 45 years deal from a 30 year. Next all this time they have been reporting my mortgage to the credit bureau and just stopped. Now they are telling me I never filed a Reaffirmation letter. However, while the bankruptcy was still open they never told me this. Now they will not allow me to speak to a supervisor for help and no one has called me back on it. They told me I needed a credit over 620 I worked hard to fix it and now they won't give me a refinance they have a new excuse. I am a poor single mom trying to provide for my children and I feel cheated. I don't know were else to turn for help. Please help me.

  

  Business response

  09/22/2021

  Upon receipt of your BBB inquiry, we escalated this to our sales team regarding your recent request for a refinance.  Newrez reviewed you for all refinance options.  Unfortunately, we could not proceed with a refinance at this time due to your credit score.  Your mortgage consultant advised you of this, and offered for you to contact us again when your credit score improved.  ******** Mortgage Servicing services your current mortgage loan on behalf of Newrez.  We have sent your additional concerns to ******** to address your statements about your current loan.  They will write back to you under separate cover and address your statements.  If you have additional questions about refinancing in the future, you may contact your mortgage consultant directly (******* ****** ###-###-#### or email **************@newrez.com).
  
  

• Initial Complaint

  09/15/2021

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  At the end of July 2021 I requested information (To my mortgage Co, New Rez) to see if it was convenient for me to refinance my home. New Rez sent me the information and I decided NOT to refinance. Christopher Rolland and others from New REz (NMLS 1787481) decided they will harass me by sending me emails, text messages and phone calls to persuade me to refinance. They even sent me all the papers I needed to sign by mail. I called New Rez (08/03/21) and talked to Lauren. She said she placed a note in the account about "Not being bothered anymore." I called again to the Refinance Department and talked to Jeremy (08/03/21) and he said he would file a complaint. This week (09/13 and 09/15/21) I received 2 emails urging me to sign the pay off amount sent to me by mu request on 08/25/21. I HAVE NEVER REQUESTED A PAY OFF AMOUNT! I AM NOT PLANNING ON REFINANCING. This needs to stop. I called NEW REZ today (09/15/21) and the representative told me she will file a complaint.

  

  Business response

  10/01/2021

  On behalf of Newrez, we apologize for your experience.  The mortgage consultant is required to send the initial disclosure package and we do request payoff information for your current loan.  As courtesy, we follow up with you to see if you have questions about the disclosures and discuss information needed to proceed. We apologize if the mortgage consultant  did not understand your request.  The file is no longer active in our refinance department.  To clarify, when you spoke to Shellpoint Mortgage Servicing on August 3, 2021 they did make notes of your concerns in their system.  Unfortunately, this information did not reach our origination team.    In response to your BBB inquiry, we requested to remove you from our refinance marketing (calls, emails, direct mail, and texts).  Full removal of these can take some time to be completed.  While this is getting processed, if you should receive anything in the future regarding a refinance and have concerns, you may email us directly at [email protected].  Thank you for your feedback

  Customer response

  10/06/2021

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:

  I hope this time you'll understand that I do not want to refinance at the present moment and to stop all your intents  to make me do so. It shouldn't take 2 months to update a customer request. Thank you for undersanding!
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  ******** ******

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩