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Reviews New Penn Financial

New Penn Financial Reviews (171)

Dear [redacted] ***:I am in receipt of the complaint that you directed to the CFPB and Better Business Bureau regarding your loan application with New Penn Financial, LLC (“New Penn”) Please be assured that New Penn reviews all consumer complaints carefully and makes every effort to reach a fair and amicable resolution After reviewing your complaint and investigating the surrounding circumstances, I offer the following response:Our records indicate that you initially applied for a 30-year FHA fixed rate loan in the amount of $131,with an interest rate of 4.375% (the “Loan”) on April 23, to purchase the real property located at [redacted] in Zephyrhills, Florida (the “Property”) The loan officer assigned to your file was Alvaro L [redacted] (NMLS ID [redacted] ), an employee of New Penn’s Tampa, Florida branchOn March 9, 2015, you received the pre-approval letter that you attached to your complaint, which outlined that approval of the loan you sought was contingent upon (i) review and approval of credit and income documents by NPF’s underwriter, (ii) review and approval of satisfactory funds for closing by NPF’s underwriter, (iii) receipt of an acceptable fair market appraisal on the suitable property, and (iv) the submission of a credit application that meets NPF’s underwriting criteriaYou entered into a purchase contract for the Property on April 5, 2015, which set a closing date of June 15, In order to close on the date stipulated, you were required to provide the seller with a loan commitment within thirty (30) days of the date of the purchase contract On April 23, 2015, you submitted a credit application for the Loan An appraisal was performed on the Property on May 4, Through your application and discussions with MrL [redacted] , you indicated that you transitioned to a new position with your employer several months earlier, and as a result of which, you switched from a salaried employee to a commissioned employee In order to qualify for the FHA Loan you sought, the U.SDepartment of Housing and Urban Development (“HUD”) requires that you demonstrate one year of income documentation for your current job Specifically, HUD guidelines state that “[c]ommission income earned less than one year is not considered effective income.” Because you had switched from a salaried employee to a commissioned employee within the previous twelve months, you were unable to fulfill the one year income requirement However, HUD guidelines allow for exceptions to be made for situations in which an applicant’s compensation was changed from salary to commission within a similar position with the same employer It was this exception that New Penn attempted to utilize so that you might for the Loan.On May 1, 2015, your employer returned the initial written verification of employment to New Penn On May 8, 2015, your Loan was placed on processing hold because corrections and clarifications to the written verification of employment provided by your employer were needed On May 11, 2015, your employer sent an email which stated only “[s]he is now 100% commission, she has no base salary.” On May 14, 2015, your Loan was placed in underwriting suspense while New Penn worked with your employer to obtain further information regarding the date upon which you became a commissioned employee and the responsibilities you held as a salaried employee compared to the responsibilities you held as a commissioned employee On May 19, 2015, your employer sent a letter to New Penn that clarified certain date and salary questions, but which again failed to address questions regarding your job responsibilities As a result, a Suspense Notice and a Loan Commitment and Rate Lock Notice were generated on May 20, and sent to your attention (enclosed herewith) Both documents outlined that your Loan was in suspense status due to deficiencies in the information supplied by your employer Your employer subsequently provided an additional letter on May 28, that addressed the New Penn underwriter’s outstanding questionsUnfortunately, upon review of the information supplied by your employer, New Penn’s underwriter determined that too few similarities existed between your salaried job and your commissioned job to support the use of the aforementioned HUD exception Your Loan was recommended for denial on June 5, 2015, pending a second underwriting review of your file pursuant to New Penn’s policy for denying loan applications On June 11, 2015, a second review of your file confirmed that your Loan application was appropriately denied as a result of a failure to meet HUD income requirementsNew Penn sincerely apologizes for any inconvenience you experienced during the transactionHowever, New Penn firmly believes that, at all times, it processed your inquiry professionally and in accordance with all applicable laws, regulations, and industry guidelines If I can be of any further assistance, please do not hesitate to contact me at the phone number or email address provided below Sincerely, Jeff C***Corporate CounselNew Penn Financial, LLC [redacted] @newpennfinancial.com###-###-#### Enclosures

March 31, 2016Dear [redacted] ***:This letter is in response to your correspondence dated March 22, and email dated March 23, 2016, regarding the above referenced loanShellpoint Mortgage Servicing (“Shellpoint”) began servicing the loan on or about April 8, 2014.Regarding the Mortgage Account Irregularities and Issues contained in your correspondence, Shellpoint will address them in the order listedThe payment received October 14, was posted to principal because the payment of $1,received was less than the full payment due of $1,and the loan was current at that timeIn July 2015, monthly payments went from $1,to $1,due to Lender Placed? Flood insurance coverage being added to the loanHowever, payments received by Shellpoint continued to be in the amount of $1,until February As a courtesy, Shellpoint posted five (5) short payments of $1,for the months of July, August, September, October, and November 2015.Shellpoint received a payment of $1,on December 21, which was posted as a full payment of $1,871.14, to the December 1, due date and $to late fees.On January 10, 2016, another short payment of $1,was receivedSince we did not receive the full payment due of $1,871.14, the funds were placed in unapplied.On February 9, 2016, another short payment of $1,was receivedShellpoint posted the $1,with $from unapplied to post as a full payment of $1,871.14, to the January 1, due dateAt this time, payment for January was 30+ days past dueThis information was reported to the Consumer Reporting Agencies (“CRA’s).? In March 2016, Shellpoint received funds in the amount of $2,and posted the funds with $1,from unapplied to the February 1, and March 1, due dates in the amounts of $1,each and $to late feesLate charges were assessed to the loan in November because the full amount due of $1,was not received by the end of the grace period on November 16, Late charges were assessed to the loan in December because full payment was not received until December 21, 2015, five days past the end of the grace periodLate fees were assessed in January and February because full payments were not received by the end of the grace period for those monthsOur records do not reflect a request for late charges to be waived for the month of December, nor an approvalShellpoint mailed requests to you for sufficient proof of Flood Insurance on September 3, and October 3, When sufficient proof was not provided, Shellpoint purchased additional Flood Insurance coverage in the amount of $for the period of October 19, through October 19, This policy was cancelled on August 24, when Shellpoint switched insurance vendorsA refund of the unused portion of the policy of $was posted to your escrow account on September 2, 2015.Our new insurance vendor mailed a request for adequate proof of flood coverage on August 27, Our records indicate an acceptable policy was provided showing proof of adequate coverage through September 3, and Shellpoint did not lender place for flood insurance at this time.Shellpoint again requested proof of insurance with a letter dated September 28, after your flood policy expired on September 3, When we did not receive proof of insurance, a policy was purchased on your behalf with a premium of $3,To date, Shellpoint has paid $2,in premiums for this policy.Upon receipt of proof of insurance from September through September 2016, Shellpoint will be able to request cancellation of the current Lender Placed Flood Policy and refund your escrow accountYour loan became past due because you provided payment short of the full payment? amountAs a result, Shellpoint mailed delinquency and default noticesOnce the loan was brought current, the notices stopped.Shellpoint has submitted a research request to our insurance department to determine if the supplemental flood insurance policy purchased effective October 19, was purchased in errorIf our findings determine you had sufficient flood coverage during that time, the remaining $we paid for that policy will be credited to your escrow account.In order to cancel the active lender placed insurance purchased on your behalf in October 2015, please provide current proof of flood coverage.Our records also indicate your Homeowner’s (“Hazard”) Insurance policy with Florida Peninsula Insurance has been cancelled, effective March 21, for non-paymentPlease provide proof of Hazard insurance coverage; otherwise, lender placed hazard insurance will be purchased on your behalf.Upon receipt of the above described documents, Shellpoint will request cancellation of the active lender placed flood policy, and will cancel any action to purchase a lender placed hazard policy and request the refund of the premiums paid outThe refunds will be posted to the negative escrow account balanceAny resulting positive escrow balance will be refunded to you by check.If you have any additional questions or concerns, please contact our Customer Service department at ###-###-####.Sincerely,L FShellpoint Mortgage Servicing

November 20, Dear [redacted] :I am in receipt of the complaint response rejection that you directed to the Revdex.com regarding the origination of your loan by New Penn Financial, LLC (“New Penn”) After reviewing the allegations contained within your response rejection notice to the Revdex.com, New Penn is of the opinion that the concerns you expressed regarding the loan product were substantially addressed in New Penn’s initial complaint response Please allow me to reiterate that New Penn has absolutely no influence over the value of the appraisal returned by the appraiser New Penn places appraisal orders through appraisal management companies (AMCs) approved by New Penn The AMCs are subsequently responsible for selecting, retaining, and providing compensation to appraisers I have enclosed herewith excerpts from New Penn’s Appraisal Procurement Policy which directly address the allegations contained within your complaint New Penn disagrees with your assertion that New Penn employed a “bait and switch” tactic to sell you on the loan New Penn initially sought to refinance your current first mortgage with an FHA Streamline refinance based on the belief that the holder of the second lien on your property would be willing to subordinate its second lien to New Penn’s proposed refinance loan It is commonplace for second lienholders to subordinate their second lien to a refinance of the first lien because their position is not adversely impacted Unfortunately, the holder of the second lien on your property was unwilling to subordinate its position Upon the refusal of your second lienholder to subordinate to New Penn’s refinance loan, New Penn gave you the option to proceed under a different loan program that would require an appraisal, or alternatively to cancel your application New Penn informed you that the appraisal of your property would need to support a loan amount sufficient to pay off both your first and second mortgages because of the second lienholder’s unwillingness to subordinate its position in the event of a refinance of the first lien With that knowledge, you expressed your willingness to proceed Unfortunately the value of the appraisal failed to support the loan amount necessary to pay off your first and second mortgages and your loan application was withdrawn New Penn sincerely apologizes for any inconvenience you experienced during the transactionNew Penn does not benefit from the failure to originate a customer’s loan application New Penn does firmly believes that, at all times, it processed your inquiry professionally and in accordance with all applicable laws, regulations, and industry guidelines If I can be of any further assistance, please do not hesitate to contact me at the phone number or email address provided below.Sincerely, Jeff CCorporate Counsel

February 27, 2018Dear [redacted] and [redacted] :This letter is in response to the Revdex.com complaint received on February 21, 2018, regarding the subject? propertyNew Penn Financial LLC d/b/a [redacted] Mortgage Servicing is currently the owner of the account number ending? in ***New Penn Servicing (“New Penn") began servicing the loan on the behalf of the owner referenced above on or about? June 09, 2017.Please know that New Penn takes its customer service and consumer protection obligations very seriously and has signi?cant? staff dedicated to its compliance related functions in order to identify, resolve, and permanently correct operational? de?ciencies and improve upon consumer concerns.Per the correspondence, you state New Penn disbursed funds for property taxes for a parcel that is not related to your account,? causing a negative escrow balance, You state you are in the process of selling your home, and you are being held up until the? county sends the refund, You stated this is not your fault and do not feel you should have to wait for New Penn to receive thefunds from the county before they are posted to the escrow account,? Upon review of the correspondence, [redacted] determined we had already received a similar complaint directly from you,? which we just responded to today, It is being sent Certi?ed Mail; however, we have enclosed a copy ofthe response, as we? feel it addresses the same concerns expressed in the above-referenced case.Should you have further questions, you may contact me directly at ###-###-####.Sincerely,Lisa F.Compliance Department

STAY AWAY....My Chronicles continueYesterday I received an email at approximately 4:30pmThe email stated that they would be using the "Desk Review" value of one of the three appraisals for my loanAmazing! I thought since it was once again way off on the actual community that my residence is inI emailed my Moan advisor right away who assured me that was wrongI took his word for it, Well being that I wanted to close on Thursday at 6:50pm my Closing Disclosure comes in just in time, mins before they walk outSURPRISE that desk review value was on there, I was charged for several "desk enhancement fees" that I was not aware of (I guess I have to pay for the desk review that brings my appraisal down from the original reconsideration), there was debt on there that they wanted to pay that I no longer own and I have sent them documentation onSTAY AWAY#DONTBRAGABOUTYOURLOAN I have all the documentation needed if anyone wishes to see exactly what I am referring toMultiple emails to [email protected] with nothing in returnYou may also see the beginning of my unprofessional and horrific experience at their main facebook page https://www.facebook.com/newpennfinancial/

November 22, 2017Dear [redacted] :This letter is in response to your recent complaint submitted to the Revdex.com regarding the above referenced loanNew Penn Servicing (“New Penn”) began servicing the loan on or about May 20, 2014.New Penn takes its customer service obligations very seriously and has significant staff dedicated to its compliance related functions in order to identify, resolve, and permanently correct operational deficiencies and improve upon consumer concerns.We regret to hear of the issues you have experience with our ACH programAs of the date of this letter, all outstanding fees have been waived and the fees you have already paid are being credited to the account:•The late charge of $assessed on 3/17/was waived on 3/29/17.•The late charges assessed in May, June, July, Aug and Sept 2017, each in the amount of $(totaling $152.85) was waived on 9/22/17.Enclosed is a copy of the transaction history showing the fee waivers.By way of background, you enrolled in New Penn’s recurring ACH program in July You requested a draft date of the 27th of the month, to pay the payment due on the 1st of the following monthThe ACH was set up accordingly in July Later, on January 10, 2016, you logged into our website and changed your ACH draft date to the 17th of the month, with the next draft being set up for February 17, 2016, for the payment due February 1, For this reason, the payment due February 1, wasn’t drafted until February 17, Although the draft date is outside of the payment grace period, our ACH system was suppressing late charges as a benefit of the programHowever, due to an inadvertent system error in March 2017, the late charge suppression was removed from the loan and the late charges outlined above were assessed due to the errorAlthough you called us in March and the first late charge was waived, the system was not permanently corrected and the late charges continued to be assessed through September 2017, when you called us again to rectify the issue.Regarding your statement that you were hung up on, our records indicate a Customer Service representative disconnected a call on September 21, due to continuous obscenities and profanity being used, after they asked you to refrainAgain, we regret you did not have a positive experience with our Customer Service department upon trying to resolve the issue with the ACHFollowing this, you spoke with another representative the same day, who escalated the issueOn September 22, 2017, all of the late charges were? waived and a block was placed on the account to prevent further late charges, so long as you are enrolled in our ACH program.During the phone call on September 21, 2017, we suggested that the ACH draft date be re-scheduled for earlier in the month, within the payment grace periodWe cancelled the ACH plan at that time, and you went on our website to set up a new ACH planHowever, the new ACH was not set up correctly and the payment did not draft for the October or November paymentsAs a result, you made a one-time payment online for each of those payments on October 9, and November 10, You spoke with a Supervisor on November 10, who made sure your recurring ACH plan was set up correctly and would begin drafting on the 1st of the month, beginning December 1, 2017.We understand that when you had to make your one-time payments online in October and November 2017, you had to pay the web fee of $each timeNew Penn is refunding this by crediting $back to the loan, to reduce your principal balance.Please rest assured that New Penn has confirmed that the account has never been reported late to the Consumer Reporting AgenciesThe account is current and the next payment is due December 1, Your ACH plan has been set up to draft on the 1st of the monthAs confirmed in the enclosed ACH Confirmation Letter, the next draft will occur on December 1, for the payment due December 1, 2017.Again, please accept our sincere apologies for the issue with the prior ACH programPlease know this experience has been shared with the appropriate people within our organization to prevent a similar occurrence.If you have any additional questions or concerns, please contact me at ###-###-####.Sincerely,Kara W***Compliance Department?

On behalf of New Penn Financial, LLC ("New Penn"), I apologize to [redacted] for the inconvenience that New Penn has caused himNew Penn uses software designed to purge our databases of the names of individuals who ask to be placed on our Do Not Contact listOccasionally, due to human or computer error, individuals receive unwanted communication The letters that [redacted] received were part of a series of letters which are sent by a third party vendor that New Penn utilizesWhile one final letter may have already ben sent to [redacted] prior to New Penn's receipt of this complaint, I can assure [redacted] that New Penn has addressed the instant problem and that aside from the final letter in a series that may have already been sent, [redacted] will never again be contacted by New Penn unless he solicits New Penn I have included my personal contact information herein so that [redacted] can reach out to me directly if he would ever need further assistance relating to his complaint Sincerely, [redacted] Staff Attorney New Penn Financial, LLC [redacted] ###-###-####

December 21, 2017Dear [redacted] ***:This letter is in response to the Revdex.com complaint received on December 13, 2017, regarding the subject propertyNew Penn Financial LLC d/b/a [redacted] is currently the owner of the account number ending in The issuer of the loan is [redacted] (“ [redacted] ***”)New Penn Servicing (“New Penn”) began servicing the loan on the behalf of the owner referenced above on or about September 01, 2016.Please know that New Penn takes its customer service and consumer protection obligations very seriously and has significant staff dedicated to its compliance related functions in order to identify, resolve, and permanently correct operational deficiencies and improve upon consumer concerns.Per the complaint, you stated that your insurance company issued funds to both you and New Penn due to a flood claim on your propertyYou stated New Penn advised you that you must use a contractor for the repairs, until you reviewed your Mortgage and discovered this was not trueYou stated New Penn is holding your funds, drawing interest of those funds and making you “jump through hoops” in order to release your fundsYou would like for New Penn to release your insurance funds.Upon receipt of the complaint, New Penn’s Compliance Department contacted you on December 20, to discuss the complaint with you, at which time you expressed your dissatisfaction with the way New Penn is handling the disbursement of your loss draft fundsYou also referred to details contained in your Mortgage agreement, and alleged New Penn’s policies and procedures could not conflict with what is outlined in the MortgageFurthermore, you stated you would not submit any more receipts to New Penn in order to receive loss draft funds.According to New Penn’s records, New Penn received the insurance funds in the amount of $47,on September 1, Upon receipt of the funds, two disbursements were made to you on September 8, 2017; one for $5,and another for $3,Another disbursement in the amount of $5,was made to you on September 12, 2017, and yet another in the amount of $14,was made on December 14, You have confirmed receipt of these fundsThe remaining funds in the amount of $18,will be disbursed when repairs are at ninety-five percent (95%) completeA property inspection will be required to make this determination.Please be advised, New Penn is required to follow [redacted] guidelines upon receipt of loss draft funds, which may supersede the guidelines in your Mortgage agreementSince your claim was over forty-thousand dollars ($40,000.00), [redacted] requires a licensed contractor to perform the repairsHowever, you notified New Penn that you had already begun the repairs without a contactorTherefore, New Penn granted approval to proceed with the repairs yourself.Guidelines for self-repairs are as follows:•A signed form stating the homeowner is doing their own work;•Paid receipts (before the second draw);•Release of Liens by contractor at final draw (if applicable); and•A Waiver of LienNew Penn has never indicated your loss draft funds will not be releasedHowever, there are guidelines to ensure the homeowner is using the loss draft funds to repair the property as intendedAdditionally, we need to ensure there are no liens against the property by contractors or others who may have performed work on the property.Regarding interest from the loss draft funds, if you reside in a State which allows the homeowner to gain interest from loss draft funds, the interest amount will be added to the final loss draft disbursementAdditionally, it will also appear on the Loan History Summary.We apologize for any inconvenience you have experienced regarding the disbursement of your loss draft fundsYou have the right to request documentation supporting our determination that no error has occurred in the servicing of the loanEnclosed is the Loan History Summary showing the above-mentioned transactions with the loss draft funds.Should you have further questions, you may contact me directly at ###-###-####.Sincerely,Lisa F*

I am in receipt of the complaint that you directed to New Penn Financial, LLC (“New Penn”) regarding the appraisal associated with your loan application.? Please be assured that New Penn reviews all consumer complaints carefully and makes every effort to reach a fair and amicable resolution.? After reviewing your complaint and investigating the surrounding circumstances, I offer the following response: You directed an identical complaint to New Penn through the CFPB portal on February 20, 2018, which New Penn responded to on March 6, 2018.? You have not alleged any new facts in your complaint to the Revdex.com, nor have you presented any additional information or documentation to support your allegations.? As such, New Penn’s response to your complaint remains as follows: Our records indicate that you initially applied for a loan with New Penn on January 3, for the purchase of the real property located at [redacted] in Bowie, Maryland.? Your application was facilitated by your Broker, [redacted] Mortgage, LLC (“ [redacted] ”)You allege within your complaint that “by mid-January New Penn financial had completed an appraisal on the property New Penn did not let [you] know about the appraisal but did communicate with the sellers of the property.”? New Penn did not communicate with the sellers of the property about the appraisal.? New Penn does not complete appraisals nor does New Penn have any influence over the timeline for an appraisal to be completed or the value returned by an appraiser.? Appraiser independence requirements preclude the lender from influencing appraisal results.? New Penn only facilitates the order of the appraisalSpecifically, in your circumstance, you were seeking a VA loan which must be coordinated directly with the VA.? An appraisal request was placed with the VA on January 5; however, due to incorrect contact information originally provided by [redacted] , the appraiser was unable to schedule the appraisal until January 16.? The appraisal was received by New Penn on January at 5:PM as indicated by the attached email chain.? New Penn’s underwriting department completed a rush review of the appraisal and a notice of value for the property was issued the next day, January at 12:PM.? You further allege that “New Penn failed to communicate to [you] (the buyers) that the property appraised for below the contract price for weeks throughout the month of January while communicating with the sellers about this fact.”? In support of your allegations you attached an email from [redacted] dated January at 9:AM.? Contrary to your assertion, nowhere within the email does [redacted] state that New Penn was holding onto the appraisal and communicating with the sellers of the property.? The email appears to allege that New Penn may have known that the value might come in low in advance, but the broker provides no evidence to substantiate this claim.? As previously mentioned and as supported by the email included herewith, New Penn did not receive a copy of the appraisal until January 29, and thus was not fraudulently holding onto the appraisal for weeks as you allegeIn response to your statements regarding the amount of cash you were required to bring to closing, as you reference within your complaint, the property appraised for well below the expected value.? The appraisal returned a value of $502,000, which was below the initial $515,contract price.? Your initial closing disclosure (“CD”) was issued on January 26, 2018, prior to New Penn’s receipt of the final appraisal.? The January CD reflected a loan amount of $526,and included a seller credit of $15,300.? At the time of issuance, New Penn advised [redacted] to make you aware that the figures would change once the final appraisal was received.? After the appraisal was received on January 29, you renegotiated the sales price with the seller.? Your negotiations led to a substantially lower loan amount of $512,793.? The seller credit was also eliminated as part of that negotiation.? These figures were reflected on an updated CD issued to you at closingNew Penn firmly believes that, at all times, your inquiry was processed professionally and in accordance with all applicable laws, regulations, and industry guidelines.? If I can be of any further assistance to you, please do not hesitate to contact me at the phone number or email address provided below? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Sincerely,? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Jeff C [redacted] ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Corporate Counsel ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? New Penn Financial, LLC ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? [redacted] @newpennfinancial.com ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? [redacted]

New Penn Financial LLC doing business as Shellpoint attempted a foreclosure sale of my home without statutory authority and proof of who owned the noteIt is most likely they have done this to others based on their practices of hiring foreclosure mill attorneys and preying on the the general population leveraging USPSThis involved a violation of the Federal Statues specifically FDCPA and FDCRAMy foreclosure sale was agreed to be cancelled by their representatives but only after I paid for an expensive lawyer and took emergency action in the State Circuit CourtI do not recommend anyone get a mortgage serviced by these firms: B [redacted] of A [redacted] O***, New Penn Financial operating as ShellpointYou have been treated unfairly please contact me at [email protected] Cordially Plaintiff to be against New PennFinancial dBa Shellpoint

March 31, 2016Dear [redacted] ***:This letter is in response to your correspondence dated March 22, and email dated March 23, 2016, regarding the above referenced loanShellpoint Mortgage Servicing (“Shellpoint”) began servicing the loan on or about April 8, 2014.Regarding the Mortgage Account Irregularities and Issues contained in your correspondence, Shellpoint will address them in the order listedThe payment received October 14, was posted to principal because the payment of $1,received was less than the full payment due of $1,and the loan was current at that timeIn July 2015, monthly payments went from $1,to $1,due to Lender Placed Flood insurance coverage being added to the loanHowever, payments received by Shellpoint continued to be in the amount of $1,until February As a courtesy, Shellpoint posted five (5) short payments of $1,for the months of July, August, September, October, and November 2015.Shellpoint received a payment of $1,on December 21, which was posted as a full payment of $1,871.14, to the December 1, due date and $to late fees.On January 10, 2016, another short payment of $1,was receivedSince we did not receive the full payment due of $1,871.14, the funds were placed in unapplied.On February 9, 2016, another short payment of $1,was receivedShellpoint posted the $1,with $from unapplied to post as a full payment of $1,871.14, to the January 1, due dateAt this time, payment for January was 30+ days past dueThis information was reported to the Consumer Reporting Agencies (“CRA’s)In March 2016, Shellpoint received funds in the amount of $2,and posted the funds with $1,from unapplied to the February 1, and March 1, due dates in the amounts of $1,each and $to late feesLate charges were assessed to the loan in November because the full amount due of $1,was not received by the end of the grace period on November 16, Late charges were assessed to the loan in December because full payment was not received until December 21, 2015, five days past the end of the grace periodLate fees were assessed in January and February because full payments were not received by the end of the grace period for those monthsOur records do not reflect a request for late charges to be waived for the month of December, nor an approvalShellpoint mailed requests to you for sufficient proof of Flood Insurance on September 3, and October 3, When sufficient proof was not provided, Shellpoint purchased additional Flood Insurance coverage in the amount of $for the period of October 19, through October 19, This policy was cancelled on August 24, when Shellpoint switched insurance vendorsA refund of the unused portion of the policy of $was posted to your escrow account on September 2, 2015.Our new insurance vendor mailed a request for adequate proof of flood coverage on August 27, Our records indicate an acceptable policy was provided showing proof of adequate coverage through September 3, and Shellpoint did not lender place for flood insurance at this time.Shellpoint again requested proof of insurance with a letter dated September 28, after your flood policy expired on September 3, When we did not receive proof of insurance, a policy was purchased on your behalf with a premium of $3,To date, Shellpoint has paid $2,in premiums for this policy.Upon receipt of proof of insurance from September through September 2016, Shellpoint will be able to request cancellation of the current Lender Placed Flood Policy and refund your escrow accountYour loan became past due because you provided payment short of the full payment amountAs a result, Shellpoint mailed delinquency and default noticesOnce the loan was brought current, the notices stopped.Shellpoint has submitted a research request to our insurance department to determine if the supplemental flood insurance policy purchased effective October 19, was purchased in errorIf our findings determine you had sufficient flood coverage during that time, the remaining $we paid for that policy will be credited to your escrow account.In order to cancel the active lender placed insurance purchased on your behalf in October 2015, please provide current proof of flood coverage.Our records also indicate your Homeowner’s (“Hazard”) Insurance policy with Florida Peninsula Insurance has been cancelled, effective March 21, for non-paymentPlease provide proof of Hazard insurance coverage; otherwise, lender placed hazard insurance will be purchased on your behalf.Upon receipt of the above described documents, Shellpoint will request cancellation of the active lender placed flood policy, and will cancel any action to purchase a lender placed hazard policy and request the refund of the premiums paid outThe refunds will be posted to the negative escrow account balanceAny resulting positive escrow balance will be refunded to you by check.If you have any additional questions or concerns, please contact our Customer Service department at ###-###-####.Sincerely,L FShellpoint Mortgage Servicing

Dear [redacted] ***: I am in receipt of the complaint that you directed to the Revdex.com (“Revdex.com”) regarding your loan application with New Penn Financial, LLC (“New Penn”) Please be assured that New Penn reviews all consumer complaints carefully and makes every effort to reach a fair and amicable resolution After reviewing your complaint and investigating the surrounding circumstances, I offer the following response: Our records indicate that you initially applied for a mortgage with New Penn on June 5, through your broker Network Financial Group (the “Broker”) Your intent was to purchase the real property located at [redacted] , San Jose, CA [redacted] (the “Property”) Applying with you for the loan was [redacted] as a non-occupant co-borrower (“Co-Borrower”) Unfortunately, several issues presented problems for the initial loan investor First and foremost, New Penn loan product guides are based in part on investor requirements for loan and underwriting characteristics Investor guidelines forbade utilizing a blended debt-to-income ratio (“DTI”) for you and the Co-Borrower Without utilizing a blended DTI, your DTI was too high to allow you to qualify for the loan you sought The second issue was an investor requirement that alimony and/or child support must have been received consecutively for twelve months in order to be utilized as qualifying income The alimony/child support payments in your loan file reflected a history of ten consecutive months The alimony/child support issue contributed to the high DTI because without the ability to utilize the alimony/child support as qualifying income, your qualifying income was reduced These issues are what prevented your loan from closing on the date you referenced within your complaint New Penn regrets that the aforementioned issues were not discovered at the outset of the loan process Fortunately, New Penn was able to issue the loan notwithstanding the characteristics originally thought to be problematic Your loan ultimately funded yesterday, July 20, New Penn sincerely apologizes for any inconvenience you experienced as a result of this transaction, however, New Penn is proud to have been able to provide you with the loan you sought on terms beneficial to you as a borrower If I can be of any further assistance to you, please do not hesitate to contact me at the phone number or email address provided below Sincerely,Jeff C***Corporate Counsel

New Penn Financial, LLC (“New Penn”) is in receipt of the complaint that [redacted] filed with the Revdex.com Please be assured that New Penn reviews all consumer complaints carefully and makes every effort to reach a fair and amicable resolution After reviewing [redacted] ***’s complaint and investigating the surrounding circumstances, I offer the following response: Our records indicate that [redacted] applied for a [redacted] 30-year fixed Interest Rate Reduction Refinance Loan (“ [redacted] ***”) with New Penn on December 16, to refinance real property located at [redacted] in Wildomar, CA *** [redacted] ***’s motivation for refinancing his loan was to reduce the monthly payment on his current mortgage which [redacted] also obtained through New Penn in July On or about January 22, 2015, New Penn received executed documents from [redacted] along with proof of income Upon review of the proof of income provided by [redacted] ***, it became apparent that [redacted] did not qualify for the [redacted] he sought because of unreimbursed employment expenses The [redacted] was placed in suspense on January 26, due to the aforementioned deficiency At the time, [redacted] was in the process of preparing his tax return and requested that New Penn hold the file in suspense until he completed his tax return, at which point the [redacted] could be reconsidered New Penn received [redacted] ***’s tax return on February 22, Upon receipt of [redacted] ***’s tax return, New Penn was able to qualify [redacted] for the [redacted] *** Unfortunately, after qualification of [redacted] based on his tax return, [redacted] posted a 30-day late payment for February on his current mortgage [redacted] ***’s 30-day late payment disqualified him from the [redacted] he sought New Penn sincerely apologizes for any inconvenience [redacted] may have experienced during this transaction New Penn does not believe that [redacted] became late on his current mortgage with New Penn as a result of anything that New Penn did or advised [redacted] to do or not to do New Penn did inform [redacted] that depending on the date of closing his refinance loan, he may be able to skip one or two months of mortgage payments; however at no point did New Penn advise [redacted] not to make mortgage payments New Penn advises customers to continue to make their monthly payments in a timely manner during the refinance process to avoid the accrual of late fees and to prevent disqualification from certain loan products In the interest of good business, New Penn will waive any late fees that have accrued to date on [redacted] ***’s current mortgage with New Penn If I can be of any further assistance to you, please do not hesitate to contact me at the phone number or email address provided below Sincerely, Jeff C [redacted] Corporate Counsel ###-###-#### [redacted] @newpennfinancial.com

September 19, I am in receipt of the complaint [redacted] filed with the Better Business Bureau (“Revdex.com”) Please be assured that New Penn Financial (“New Penn”) reviews all consumer complaints carefully and makes every effort to reach a fair and amicable resolution After reviewing [redacted] ’s complaint and investigating the surrounding circumstances, I offer the following response:Our records indicate that [redacted] ’s original application was taken by New Penn on July 29, [redacted] was seeking a conventional loan in the amount of $280,with an interest rate of 4.375% to refinance real property located at [redacted] in [redacted] , Tennessee (the “Property”) At the time of application, [redacted] estimated the value of the Property to be $450, New Penn was unable to verify the Property estimate at the time of application as a result of the Property’s location in a rural area with a lack of comparable properties Based on the Property estimate provided by [redacted] , New Penn anticipated that [redacted] ’s loan-to-value ratio (“LTV”) would fall below 80% and thus the loan would not require mortgage insurance As a result, New Penn quoted [redacted] the conventional loan terms contained in the attached original Good Faith Estimate (“GFE”) dated July 30, without mortgage insurance.New Penn, through E-Street Appraisal Management Company, LLC, employed the services of independently licensed appraiser Daniel Collier to appraise the Property The original appraisal resulted in a Property value of $275, New Penn contested the value of the appraisal due to a discrepancy in the lot size As a result of the error to the original appraisal, a new appraisal report was issued which valued the Property at $320, Even with the newly appraised value of the Property, the LTV exceeded 80%, and thus mortgage insurance would be required to proceed with a conventional loan It was at this time that New Penn explored the option of a VA refinance with [redacted] While VA Cash-Out Refinances require a funding fee (in [redacted] ’s case the funding fee was approximately $9,000, which can be financed into the loan), a VA Cash-Out Refinance would have allowed [redacted] to refinance the Property with a maximum LTV of 100% Ms Lunsford indicated that she did not wish to proceed with the VA Cash-Out Refinance Contrary to [redacted] ’s assertion, New Penn did not use her husband’s lowest score to qualify the loan In circumstances with two borrowers, New Penn guidelines require that New Penn use the lower of the two middle scores [redacted] ’s middle score was lower than [redacted] ’s middle score Therefore New Penn used [redacted] ’s middle score Perceived delays in the loan process identified by [redacted] were beyond the control of New Penn The appeal of the flawed appraisal report required additional time The loan process was also slowed as a result of the need for a written verification of employment [redacted] received an increase in salary shortly before the loan process commenced, and New Penn guidelines require a written verification of employment when a customer’s salary differs from the salary shown on the customer’s W2, evidenced by supporting documentation New Penn did not instruct [redacted] to refrain from paying any bills or to incur any other expenses during the loan process which would negatively affect her financial condition Further, New Penn covered the cost of the appraisal for the Property The addition of mortgage insurance and the discussion of an alternative loan program were each predicated upon the low appraisal value, which New Penn does not control [redacted] appraiser independence requirements ensure that lenders such as New Penn have no influence over appraisers New Penn sincerely apologizes for any inconvenience [redacted] may have experienced during this transaction However, New Penn firmly believes that, at all times, it processed [redacted] ’s loan professionally and in accordance with all applicable laws, regulations, and industry guidelines If I can be of any further assistance to you, please do not hesitate to contact me at the phone number or email address provided below Sincerely, Jeff C*** Corporate Counsel

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved] Complaint: [redacted] I am rejecting this response because:Company response does not coincide with complaint and certified letter submitted I have attached my response to MrC [redacted] via his response letter highlighted and also a copy of the certified letter I sent MrL [redacted] June 21, Thank you for your response MrC*** You can reach me via email or phone provided below Regards, [redacted] @***.com [redacted]

November 20, 2015Dear [redacted] :I am in receipt of the complaint response rejection that you directed to the Revdex.com regarding the origination of your loan by New Penn Financial, LLC (“New Penn”) After reviewing the allegations contained within your response rejection notice to the Revdex.com, New Penn is of the opinion that the concerns you expressed regarding the loan product were substantially addressed in New Penn’s initial complaint response Please allow me to reiterate that New Penn has absolutely no influence over the value of the appraisal returned by the appraiser New Penn places appraisal orders through appraisal management companies (AMCs) approved by New Penn The AMCs are subsequently responsible for selecting, retaining, and providing compensation to appraisers I have enclosed herewith excerpts from New Penn’s Appraisal Procurement Policy which directly address the allegations contained within your complaint New Penn disagrees with your assertion that New Penn employed a “bait and switch” tactic to sell you on the loan New Penn initially sought to refinance your current first mortgage with an FHA Streamline refinance based on the belief that the holder of the second lien on your property would be willing to subordinate its second lien to New Penn’s proposed refinance loan It is commonplace for second lienholders to subordinate their second lien to a refinance of the first lien because their position is not adversely impacted Unfortunately, the holder of the second lien on your property was unwilling to subordinate its position Upon the refusal of your second lienholder to subordinate to New Penn’s refinance loan, New Penn gave you the option to proceed under a different loan program that would require an appraisal, or alternatively to cancel your application New Penn informed you that the appraisal of your property would need to support a loan amount sufficient to pay off both your first and second mortgages because of the second lienholder’s unwillingness to subordinate its position in the event of a refinance of the first lien With that knowledge, you expressed your willingness to proceed Unfortunately the value of the appraisal failed to support the loan amount necessary to pay off your first and second mortgages and your loan application was withdrawn New Penn sincerely apologizes for any inconvenience you experienced during the transactionNew Penn does not benefit from the failure to originate a customer’s loan application New Penn does firmly believes that, at all times, it processed your inquiry professionally and in accordance with all applicable laws, regulations, and industry guidelines If I can be of any further assistance, please do not hesitate to contact me at the phone number or email address provided below.Sincerely,Jeff C.Corporate Counsel

This company treated us miserably throughout our week loan process They missed repeated closing dates, always coming up with some bogus nonsense at the last minuteNever an apology and never and sense of decency I have excellent credit and was putting % down yet they still jerked me around Stay as far away as possible from this disreputable company

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed as Answered] Complaint: [redacted] I am rejecting this response because they are not accepting responsibility Derek F [redacted] , the regional manager already said he was refunding the appraisal fee and this was almost weeks ago (on 11/10/2016) and I haven't even seen that? I'm guessing this was another lie? I don't know It seems they can't follow through with their promises and advises When this occurs I will Regards, [redacted]

August 18, The Revdex.com 512-445-Revdex.com Case # [redacted] Dear Contact: Thank you for notifying our office of the concern filed by [redacted] ***, at the Travelodge InnWe are sincerely sorry to hear we did not provide the guest, with an excellent Travelodge Inn experienceYou can count on our team to help resolve your concernsTravelodge Inn is committed to assuring that all of its properties provide good service and quality accommodationsWe would be happy to assist [redacted] on resolving her concernPlease provide the following information to help us expedite the process: Address of the propertyAs soon as we receive this information, Travelodge Customer Care will look into this further and respond backIf your office requires any further information regarding this, please contact me at (***) ***-***Sincerely, [redacted] Customer Care Representative

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved] ? Complaint: [redacted] I am rejecting this response because:I have provided contradicicting outlined loan perameters.In documents I uave provided states loan was structured differently than what you have provided.? You can clearly see where r p [redacted] Sold me a different loan than what you are sayingI have provided proof in writing.You do not accept it? You do not ackowledge it? Did you even look at it?I was victomized by new pen or a representitive of new pen? This will have to be made right before it goes away Regards, [redacted]

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Description: Mortgage Bankers, Mortgage Lender

Address: 6136 Frisco Square Blvd STE 400, Frisco, Texas, United States, 75034-3251

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