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Find a Location

Shellpoint Mortgage Servicing has 1 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

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    Business ProfileforShellpoint Mortgage Servicing

    Loan Servicing
    BBB accredited business

    Additional business information

    Government Actions:
    Government Action: BBB reports on known government actions involving business’ marketplace conduct:
    Minnesota Department of Commerce vs NewRez
    On August 17, 2022, the Minnesota Commissioner of Commerce has advised they are prepared to commence formal action and other applicable law based on allegations that NewRez incorrectly applied 54 of 58 payments by consumers from January 2020 to December 2021. NewRez has voluntarily repaid all interest over payments by consumers and agreed to not re-apply the interest under payments by consumers as not all misapplications of payments resulted in financial harm to consumers.  The company has waived their right to any notice or opportunity for a hearing on any civil penalty imposed by the commissioner. The company will pay a civil penalty of $54,000  + costs to the State of Minnesota and conduct an audit of all Minnesota mortgages whose servicing rights were transferred from TCF Bank, N.A. to NewRez since January 1, 2019. The Consent Order was for settlement purposes only and should not be considered as an admission of guilt or finding of violation of the law. For more details go here

    At-a-glance

    Customer Reviews

    1.07/5stars

    Average of 321 Customer Reviews

    Customer Complaints

    1,459 complaints closed in last 3 years

    590 complaints closed in last 12 months

    BBB Rating & Accreditation

    Accredited Since: 1/25/2017

    Years in Business: 16

    Customer Reviews are not used in the calculation of BBB Rating

    Overview of BBB Rating

    Related Categories

    Business Details

    Location of This Business
    75 Beattie Pl Ste 300, Greenville, SC 29601-2138
    BBB File Opened:
    12/13/2011
    Years in Business:
    16
    Business Started:
    1/1/2008
    Business Started Locally:
    3/1/2014
    Business Incorporated:
    7/21/2008
    Accredited Since:
    1/25/2017
    Licensing Information:
    This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
    Type of Entity:
    Limited Liability Company (LLC)
    Alternate Business Name
    • NewRez, LLC
    Business Management
    • Ms. Kara Watt, Compliance Manager
    Contact Information

    Principal

    • Ms. Kara Watt, Compliance Manager
    Additional Contact Information

    Fax Numbers

    • (866) 467-1137
      Primary Fax

    Customer Complaints

    1,459 Customer Complaints

    Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews

    File a Complaint

    Most Recent Customer Complaint

    03/20/2024

    Complaint Type:
    Service or Repair Issues
    Status:
    Answered
    My 10/1 Arm for an investment property had its first readjustment. The loan was locked for 10yrs at 3.89%. In anticipation of the adjustment, I confirmed with NewRez, more than once, that my loan terms were such that the most my loan could adjust, up or down, was 2% at one time. Thus, my new rate would be 5.89%, after the initial 10 years, which ended at the end of 2/24. I also confirmed that I could pay down principal right up until 2/28/24, the last day before the adjustment, thus lowering my payment. I began paying down principal at the end of 2023, and by the end of February -- before the 28th -- I paid the loan down to a principal just under $80,000. I was told by NewRez that my new payment would be in the mid-500s on a rate of 5.89%. But since March 1st, they now say I'm on a 7.75% rate and my payment is $1,063. This is incorrect. I have called repeatedly but no one I have spoken to, including a supervisor, has ANY knowledge of anything pertaining to my loan or why the numbers say what they say. I have been told that someone would be getting back to me within 30 days, which is TOTALLY unacceptable, and not to mention I have zero confidence in whoever is going to contact me then. I have filed a complaint with the Financial Protection Bureau as well. This is a terrible company, in my experience dealing with them. I'm in the fortunate position of being able to pay off the remains balance of the loan; I would rather carry the debt, but the incompetence at NewRez is making me reconsider. It's very annoying. I literally just want them to correct my account.
    Read More

    Customer Reviews

    321 Customer Reviews

    What do you think? Share your review.

    How BBB Processes Complaints and Reviews

    Start a Review

    Most Recent Customer Review

    Mauri E

    1 star

    04/18/2024

    Sadly, our mortgage was sold to this company a few months ago and we have had several negative interactions with them. They have sent our statements to the wrong address, claimed that our bank rejects our ACH payments even though our bank has no record of them even trying, their customer service agents are unknoweledgeable and unhelpful, they are a "debt collecting organization" and treat me like a deadbeat even though I've never in my life missed a mortgage payment. I wish banks were not allowed to sell loans like this. I never would have chosen this joke of a bank and am so sad that I will be dealing with monthly headaches with them for years to come.

    Local BBB

    BBB of Upstate South Carolina

    BBB Reports On

    BBB reports on known marketplace practices.

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