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The complaint alleges that the defendants failed, as a matter of systematic internal policy, to send billing statements to borrowers whose second mortgages were discharged in bankruptcy.
In California, most major lenders will transfer servicing to a company like Shellpoint once you fall 60 days behind on your mortgage. This allows them to protect their brand thru the foreclosure process. For instance, a company like Wells Fargo does not want to have their brand name associated with a foreclosure.
In California, most major lenders will transfer servicing to a company like Shellpoint once you fall 60 days behind on your mortgage. This allows them to protect their brand thru the foreclosure process.
We are more than just a servicing company. Our dedication to our mission and our community are what makes our organization work! Shellpoint Mortgage Servicing manages (or services) mortgage loans after mortgage lenders originate them.
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Newrez LLC dba Shellpoint Mortgage Servicing. Newrez LLC dba Shellpoint Mortgage Servicing is a debt collector. This is an attempt to collect a debt and any information obtained will be used for that purpose. Newrez LLC dba Shellpoint Mortgage Servicings NMLS ID is 3013.
Mortgages are often sold to other companies or investors to free up funds for the lender to offer more loans. The trading of mortgage-backed securities in the secondary mortgage market allows for a continuous flow of funds in the housing and financing markets.

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