Monday, October 01, 2018

The “Joys” of Having Your Mortgage Sold to Another Company, Part II — They Decide Not to Pay Your Insurance

The home owner’s insurance saga. Here it  is.

It started when I received a notice from my insurance company, Nationwide, that my payment had not been received. This notice came September 21. It said I had a month to get this situation resolved or the policy would be canceled.

I called the mortgage company. I was told that no that had been paid September 12 (the date the bill was supposed to be paid). I was told maybe they passed in the mail. I was then transferred to the insurance department. It happened to be closed. I should have gotten a clue from the fact all the recording said was the office was closed. Usually in those cases the hours are then given but not in this case.

I call Nationwide. They say the bill has not been paid. I said the mortgage had been sold so maybe that’s why it was late. Nationwide didn’t have any idea that the mortgage had been sold. I then gave Nationwide all the information on Shellpoint. The address, phone number etc.

I called back Shellpoint. I was told by them that they didn’t know why I was told it was paid. This person, the only one at Shellpoint that seemed concerned about what was happening, told me where to email a copy of the invoice. She also got me the hours the insurance office was opened.

There is a great deal of back forth which I won’t go into full detail (but will elaborate a little). Needless to say Nationwide was helpful at every step of the was Shellpoint wasn’t.

I called Shellpoint on Monday morning. I was told they had sent me a letter dated September 19 about the insurance not being paid. I said that’s great but the payment was due on the 12th. I then got an excuse and justification that was used throughout this entire experience: the loan had just been transferred to them.

This is a funny excuse because in all the information I received on the mortgage transfer I was told not to worry about anything.

The Shellpoint person told me what I needed to send to get the insurance paid. I was a little confused by what she said after I hung up. I called back Shellpoint and got that information. While I had Shellpoint on the line I gave them my insurance information: The name of the company, the account number, the name of the agent as well as address and telephone number.

Back to Nationwide. I told them what I needed. They said they would be happy to fax it over. I was worried that Shellpoint wouldn’t know my account number. The Nationwide person said if I had the loan number she would add it to the fax. I also asked her to send the second requested document to me. I said I was going to email that along with the bill. I wanted to make sure they got this as many ways as possible so they could do their job.

I called Shellpoint that afternoon to make sure they received the documents. I was told they wouldn’t be posted to the account for 48 hours. I then asked why the insurance was paid in the first place. I was told they didn’t have the information on my insurance company. I was just so annoyed by this. And again we didn’t get the loan until June. He also added since the insurance hadn’t been canceled and “we” were taking care of the problem everything was fine.

I could not believe what I was hearing. First off there was no “we” in this situation there was me. I made sure the proper information was exchanged. I got Nationwide to send the necessary documents to get the insurance paid. There was no we. This guy did apologize for what happened but then wanted to get me off the phone as quick as possible.

Later that afternoon someone else from Shellpoint called. I think she was responding to the initial information I sent in on Friday. She said she had been in contact with the insurance department and was told what information was needed to process the payment. I said I had already sent that in. I then asked again why the insurance wasn’t paid. Again I got the well it can take 30-60-90 days to get all the information in the account. I responded that none of the information sent out about the transfer of the load said anything about that at all.

The bottom line in all of this is that Shellpoint had ample time to find out the my insurance information. All they had to do was contact me. They certainly had no problem doing that when they informed me my insurance had expired. In fact this is the opening sentence in the letter they sent to me:  Our records show that your hazard insurance expired and we do not have evidence that you have obtained new coverage. So in other words they are blaming me because they didn’t do their job. The reason I don’t have insurance is Shellpoint didn’t pay the bill.

So from now on I’m going to be following very close when it come time to have my taxes paid and my insurance paid. I will have to contact both the tax office and Nationwide because there is just no reason to believe Shellpoint can do their job.