New Penn Financial

March 8, 2018Dear Mr***:I am in receipt of the complaint that you directed to the Revdex.com (“Revdex.com”) regarding your loan application with *** *** *** *** *** *** Please be assured that *** reviews all consumer complaints carefully and makes every effort to reach a
fair and amicable resolutionAfter reviewing your complaint and investigating the surrounding circumstances, I offerthe following response:Our records indicate that you initially applied for a 30-year FHA cash out loan on August 30, to re?nance the real property located at * *** *** *** ** *** *** *** ***The purposeof your re?nance was to consolidate certain debts and complete certain home improvementsOn September *** *** received a copy of the title report which re?ected that the real property wassubject to a life estate*** *** traditionally does not lend to life estates because of restrictions on lending to life estates established by secondary market investorsHowever, in an effort to provide youwith the loan you sought, *** *** sought an exception based on the fact that the estate was subject to the life of your mother over whom you were awarded guardianshipUnfortunately, *** *** wasunable to obtain an exception which led to a withdrawal of your loan application.You further allege that your homeowner’s insurance was cancelled for non-payment because *** *** set up the insurance to be paid by the lender*** ***’s practice is to work with the homeowner’s insurance provider during loan processing to list *** *** as the loss payee, which change becomes effective after loan closingBecause your loan never reached closing, payment of your homeovwler’s insurance policy was never transferred to *** ***As a result, you should have continued to be invoiced in the standard course of business as you were prior to your loan applicationwith *** *** *** never advised you to stop making your homeowner’s insurance payments at any point.*** *** apologizes for any inconvenience you experienced as a result of this transaction, however, *** *** ?rmly believes that at all times your transaction was handled professionally and in accordance with all applicable laws, regulations, and industry guidelinesIf l 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,*** *** *** *** *** *** *** *** *** *** *** ** ***

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 *** *** *** *** in Bowie, Maryland. Your application was facilitated by your Broker, *** Mortgage, LLC (“***”)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 ***, 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 *** dated January at 9:AM. Contrary to your assertion, nowhere within the email does *** 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 *** 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*** Corporate Counsel New Penn Financial, LLC ***@newpennfinancial.com ***

Dear
*** ***:
I am in
receipt of the complaint that you directed to the Revdex.com regarding the origination
of your loan by 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:
New Penn’s
records indicate that you initially applied for a 30-year FHA Streamline loan
with New Penn on August 18, in the amount of $178,with a rate of
4.25% to refinance the real property located at *** *** *** in Calera,
Alabama (the “Property”). An FHA
Streamline refinance allows the consumer to proceed without having the subject
property appraised. However, FHA
guidelines for a streamline refinance limit the insurable value of the refinance
loan amount to the outstanding principal balance of the current loan plus the
new upfront mortgage insurance premium charged on the refinance. Therefore, an FHA Streamline cannot be used
to pay off both a primary and subordinate mortgage. As a result, in order to proceed with the FHA
Streamline loan, your second mortgage had to be subordinated, which required
the consent of the holder of the second mortgage. New Penn worked diligently to obtain a
subordination of your second mortgage.
Unfortunately, as you stated within your complaint, the holder of your
second mortgage would not consent to subordinate the lien. This was communicated to New Penn on
September 2,
It was at
this time that New Penn explained to you that you could instead proceed with a
rate and term refinance which would require an appraisal. The rate and term refinance loan amount
quoted to you was $187,with a rate of 3.875%. The benefits of the rate and term refinance
were that you could both obtain a lower rate and pay off your second mortgage (therefore
consolidating your mortgages into one monthly payment). However you would have been required to
obtain an appraisal to support the value of the property and bring additional
funds to closing. An appraisal is not
necessary for an FHA Streamline because the refinance loan amount is limited by
your current unpaid principal balance.
An appraisal is necessary for a rate and term refinance because the loan
amount is limited by the value of the real property rather than your current
unpaid principal balance. You expressed
your desire to move forward with the rate and term refinance option
New Penn,
through *** *** *** *** ***, employed the services of
independently licensed appraiser *** *** to appraise the Property. New Penn received the completed appraisal on
September 24, which showed a value of $165,000.00. Unfortunately the value of the appraisal
failed to support the loan amount of $187,603.00. New Penn had no influence over the low value
returned by the appraiser. *** *** appraiser independence requirements ensure that lenders such as New Penn have no
influence over appraisers
Perceived
delays in the process were attributable to factors beyond the control of New
Penn. New Penn has no control over the
speed with which the subordinate lienholder responds to subordination requests. Additionally, New Penn has no control over
the speed or accuracy with which appraisers complete property appraisals.
New Penn
sincerely apologizes for any inconvenience you experienced during the
transactionHowever, New Penn does not believe that you became late on your
Original Loan as a result of anything that New Penn did or advised you to do or
not to do. 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
Counsel
New
Penn Financial, LLC
***@newpennfinancial.com
***

Dear *** ***: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 30-year FHA Streamline mortgage on June 29, to refinance the real property located at *** *** *** *** in Acworth, Georgia (the “Property”). To qualify for an FHA Streamline refinance, all borrowers on the loan that is being refinanced must remain on the new loan. As a result, you were advised that your former partner who was on the loan that was being refinanced must be added to the new loan to remain as an FHA Streamline You agreed to proceed with the loan application and authorized an inquiry into your credit to provide a clearer picture of your loan options. At the same time, your former partner submitted documentation required to proceed with the refinance. Upon review of your former partner’s W-2s, it became clear that your partner’s income was initially overstated. As a result of the overstated income, the initial rate that you were quoted increased. Even though the rate increased, you were still conditionally approved for the loan you sought. Once your loan was conditionally approved, your loan officer Thomas P*** (*** ID ***) worked diligently in an attempt to have the *** *** Program agree to subordinate the $5,balance you referenced in your complaint. Unfortunately, after several phone calls with *** ***, it became apparent that they were unwilling to subordinate the $5,balance. MrP*** outlined that you could still proceed with the loan and simultaneously pay off the *** *** Program balance by switching to a cash-out refinance. The cash you received from a cash out refinance could have provided sufficient cash to pay off the *** *** Program balance. However, in order to proceed with a cash-out refinance, an appraisal of the Property was required as you noted in your complaint. You elected to forego having the appraisal completed and forego pursuing the cash-out refinance option suggested by MrP*** New Penn apologizes for any inconvenience you experienced as a result of this transaction, however, New Penn firmly believes that at all times your transaction was handled 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 New Penn Financial, LLC ***@newpennfinancial.com ###-###-####

Dear *** ***:
I am in
receipt of the complaint that you directed to New Penn Financial, LLC (“New
Penn”) Regional Manager Kevin K*** and the Revdex.com regarding the amount of cash
you received as a result of your loan transaction. 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 applied for a 30-year fixed rate FHA Streamline
Refinance in the amount of $121,(the “Loan”) for real property located
at *** *** *** in Columbus, Ohio (the “Property”). Your intent was to refinance your then
current mortgage with ** *** which had a principal loan balance of $119,009.36.
FHA
guidelines for a streamline refinance limit the insurable value of the refinance
loan amount to the outstanding principal balance of the current loan plus the
new upfront mortgage insurance premium charged on the refinance. FHA guidelines further outline that the
refinance must involve no cash back to the borrower, except for minor
adjustments at closing, not to exceed $500.00.
Therefore, the maximum amount of cash that you could have received as a
result of the refinance transaction was any funds remaining in your ** ***
escrow account plus $500.00.
Your Loan
with New Penn closed on September 14, 2015.
Based on the closing date of your Loan, you would be able to skip two
months of mortgage payments (the September payment, because it was not
considered late at the time of refinance, and the October payment, because
the first payment due date for the Loan would be November 1, 2015). However, sufficient funds still needed to be
deposited in escrow to account for two months of taxes and insurance fees and
to ensure your New Penn Loan escrow account contained enough reserve funds As a result, your escrow account for the New
Penn loan required $3,($1,for taxes + $1,for insurance) to
account for such tax and insurance payments.
Additionally, certain costs associated with the closing of your Loan,
including title company fees and other related closing costs, would need to be paid. New Penn requested a payoff statement from ** *** for your ** *** loan on September 2, which reflected an escrow
balance of $1,927.24. An updated payoff
statement was provided by ** *** to New Penn on September which reflected
an escrow account balance of $1,794.50. US
Bank sent you a check in the amount of $which accounted for the decrease
in funds in your escrow account.
After
reviewing your loan application and the circumstances of your refinance, your
loan officer discussed the benefit of netting your escrow accounts. As previously mentioned, $1,remained
in your ** *** escrow account that could either be returned to you by ** ***,
or alternatively netted against your New Penn Loan escrow account. If the funds had been returned directly to
you from ** ***, you would have needed to bring cash to fund your New Penn escrow
account to the Loan closing. Because you
elected to net the escrows, you were able to reduce funds needed to bring to closing
to account for closing costs and to offset a portion of the $3,in taxes
and insurance. Still, after netting
escrows, additional funds were required to cover the aforementioned closing
costs and remaining $1,balance required to fund your New Penn escrow
account (reflecting the difference between $3,and $1,794.50). In order to cover the remaining fees, New
Penn provided you with a lender credit in the amount of $3,197.09. As a result of the lender credit, not only
were you able to close the Loan without bringing any cash to closing, you were
still able to receive $in cash from New Penn at closing as a result of
the transaction.
However,
New Penn firmly believes that, at all times, it processed your inquiry
professionally and in accordance with all applicable laws, regulations, and
industry guidelines. New Penn does not
offer guarantees in relation to the amount of cash a customer may receive at
closing. New Penn further believes that
the loan terms you received are competitive and benefit you as a borrower, as
demonstrated by your lower monthly payments
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
New
Penn Financial, LLC
***@newpennfinancial.com
610-629-

March 15, 2018Dear *** ***:I am in receipt of the complaint that you directed to the Revdex.com regarding advertisements you received from New Penn Financial, LLC (“New Penn”)Please be assured that New Penn reviews all 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:On behalf of New Penn, I apologize for the inconvenience that New Penn has caused youNew Penn has added you to New Penn's “Do Not Contact” listI can assure you that you will never again be contacted by New Penn unless you solicit New PennI have included my personal contact information herein so that you can reach out to me directly if you ever need further assistance relating to your complaint.New Penn sincerely apologizes for any inconvenience you experienced, however New Penn believes that at all times it acted in accordance with all applicable laws, regulations, and industry guidelinesIf 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

xxxxx was wonderful What it took another mortgage company 2+ months to "try" to close, it took xxxxx with New Penn a little over a month I first contacted him on October and I closed my refinance on November and this was with me being discharged from xxxxx in less than a year I would highly recommend him to anyone looking to refinance/finance

Attached please find a scanned copy of the appraisal reimbursement check for Ms*** as was noted in New Penn's initial response to Ms*** The check has been sent to Ms*** via overnight courier
Please do not hesitate to contact me with any additional questions, comments or concerns
Sincerely,
Jeff C***
Corporate Counsel
New Penn Financial, LLC
***

Dear *** ***: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 30-year FHA Streamline mortgage on June 29, to refinance the real property located at *** *** *** *** in Acworth, Georgia (the “Property”). To qualify for an FHA Streamline refinance, all borrowers on the loan that is being refinanced must remain on the new loan. As a result, you were advised that your former partner who was on the loan that was being refinanced must be added to the new loan to remain as an FHA Streamline You agreed to proceed with the loan application and authorized an inquiry into your credit to provide a clearer picture of your loan options. At the same time, your former partner submitted documentation required to proceed with the refinance. Upon review of your former partner’s W-2s, it became clear that your partner’s income was initially overstated. As a result of the overstated income, the initial rate that you were quoted increased. Even though the rate increased, you were still conditionally approved for the loan you sought. Once your loan was conditionally approved, your loan officer Thomas P*** (*** ID ***) worked diligently in an attempt to have the *** *** Program agree to subordinate the $5,balance you referenced in your complaint. Unfortunately, after several phone calls with *** ***, it became apparent that they were unwilling to subordinate the $5,balance. MrP*** outlined that you could still proceed with the loan and simultaneously pay off the *** *** Program balance by switching to a cash-out refinance. The cash you received from a cash out refinance could have provided sufficient cash to pay off the *** *** Program balance. However, in order to proceed with a cash-out refinance, an appraisal of the Property was required as you noted in your complaint. You elected to forego having the appraisal completed and forego pursuing the cash-out refinance option suggested by MrP*** New Penn apologizes for any inconvenience you experienced as a result of this transaction, however, New Penn firmly believes that at all times your transaction was handled 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 New Penn Financial, LLC ***@newpennfinancial.com ###-###-####

December 21, 2017Dear *** * ***: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 *** *** *** is currently the owner of the account number ending in The issuer of
the loan is *** *** *** *** (“*** ***”)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 *** *** 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), *** *** 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 would like to recommend Carol L*** to anyone in Florida looking for a home mortgageI had talked to other Banks and all of the loan officers sat still doing nothingShorty after leaving her a phone message on a Holiday she returned my call and pushed forward to get my mortgage approved and closed in a very short periodVery positive experience with Carol and her staffThanks S.L
A*** Fl

On behalf of New Penn Financial, LLC (“New Penn”), I apologize to *** *** for the inconvenience that New Penn has caused him. New Penn uses software designed to purge our databases of the names of individuals who ask to be placed on our Do Not Contact list. Occasionally, due to human
or computer error, individuals receive unwanted communicationI can assure *** *** that New Penn has addressed the instant problem and that *** *** will never again be contacted by New Penn unless he solicits New Penn. I have included my personal contact information herein so that *** *** can reach out to me directly if he would ever need further assistance relating to his complaint Sincerely, Jeff C*** Corporate Counsel New Penn Financial, LLC ***@newpennfinancial.com ###-###-####

Dear *** ***: 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 30-year fixed conventional mortgage in the amount of $318,at a rate of 4.20% with New Penn on May 18, through your broker *** *** *** *** (the “Broker”). Your intent was to purchase the condominium located at *** * *** *** *** ** in Aberdeen, New Jersey (the “Property”). Within your complaint you allege that New Penn inappropriately charged you for an appraisal prior to obtaining necessary documents from the property builder. You do not specify what those additional documents may be, but presumably you are referencing necessary documents for condominium approval. If you are referencing documents other than those required for condominium approval please provide additional details so that New Penn can investigate such allegations in further detailAs a condominium purchase transaction, your loan approval required, among other things, a completed appraisal and approval of the condominium complex. Contrary to your assertion, obtaining a completed appraisal is not contingent on first receiving condominium approval; rather, they are each necessary components for a condominium purchase and must each meet New Penn underwriting requirements. As a result, both are pursued through separate tracks. Your Broker ordered an appraisal for the Property, which appraisal was conducted by a third party appraiser, to determine whether the appraised value supported the loan amount you sought to purchase the Property. New Penn did not order your appraisal or hold any funds in conjunction with your appraisal. Separately and simultaneously, New Penn pursued approval of the condominium project in which the Property was located. Unfortunately the condominium project did not meet investor guidelines which required that the condominium exceed 50% presale and 50% owner occupancy thresholds. At the time of your loan application the condominium project had a presale percentage of 42.8% and an owner occupancy percentage of 14.2%. Because the condominium project was ineligible for the financing you sought, your loan was denied because the “value or type of collateral [was] not sufficient.” You further allege within your complaint that New Penn failed to provide you with a denial letter in conjunction with the denial of your loan. Your loan was denied on August 25, for the reasons stated above. A denial letter was mailed to you that same day, a copy of which is enclosed herewith. New Penn apologizes for any inconvenience you experienced as a result of this transaction, however, New Penn firmly believes that at all times your transaction was handled 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 New Penn Financial, LLC ***@newpennfinancial.com ###-###-####

It has not yet been resolved

[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.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me I was able to close as scheduled
Thank you kindly,
*** ***

March 31, 2016Dear *** ***: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 *** ***: First please allow me to reiterate that your Broker was responsible for ordering the appraisal for the property you sought to purchase. New Penn does not order appraisals on brokered transactions. As I stated in my previous response, obtaining a completed appraisal is not contingent on first receiving condominium approval. Although the two items are similar in that they pertain to details about the real property, they also differ in their considerations, and neither is dependent upon, or impacted by the result of the other. Each are separate, necessary components of a purchase transaction for real property in a condominium complex. As a result, each item is pursued separately from the other. The procedure that I have outlined above is not unique to New Penn, but is the standard industry procedure for processing condominium purchase loans. Notwithstanding the fact that New Penn does not coordinate appraisal orders for brokered transactions, if New Penn were to implement a process whereby New Penn restricted the broker from ordering an appraisal until condominium approval were obtained, such process could create significant delays that could threaten purchase transactions which often require closing to occur within a timely periodBecause your loan was submitted through a broker, New Penn delivered the adverse action notice to your broker for delivery to you. The adverse action was delivered to your broker on August 25, 2016. New Penn fully hoped to provide you with the loan you sought under the terms you sought. Unfortunately, the condominium did not meet investor guidelines, which resulted in denial of your loan application. New Penn receives no benefit from a loan that is denied. Your appraisal fee was paid to the appraiser responsible for appraising the subject property, and the appraisal report was delivered to you as required by law. New Penn does not receive or retain any portion of the appraisal fee. New Penn apologizes for any inconvenience you experienced as a result of this transaction, however, New Penn firmly believes that at all times your transaction was handled 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 New Penn Financial, LLC ***@newpennfinancial.com ***

February 7, 2018Dear *** ***:I am in receipt of the complaint that you directed to the Revdex.com (“Revdex.com”) regardingyour loan application with New Penn Financial, LLC (“New Penn”)Please be assured that NewPenn reviews all consumer complaints carefully and makes every effort to
reach a fair and amicableresolutionAfter reviewing your complaint and investigating the surrounding circumstances, I offerthe following response:Our records indicate that you initially applied for a 30-year conventional loan with New Penn inFebruary to purchase the real property located at *** *** *** in New Castle,Delaware (the “Property”)As a ?rst-time homebuyer, you sought to take advantage of Delaware’sFirst Time Homebuyer Mortgage Tax Credit Program (“DE MCC”)New Penn does not traditionallyoffer the DE MCC as a stand-alone program, however, New Penn attempted to assist you to obtainthe tax credit concurrently with your loan applicationUnfortunately, when your loan funded onApril 29, 2016, the tax credit had not been securedThe credit is not something that can be obtainedafter loan closing.New Penn sincerely apologizes for any inconvenience you experienced as a result of this transaction.New Penn will be reaching out to you in an effort to reach a mutually bene?cial resolutionPlease donot hesitate to contact me with any questions you may have.SincerelyJeff C.Corporate Counsel

Attached please find a scanned copy of the appraisal reimbursement check for Ms*** as was noted in New Penn's initial response to Ms*** The check has been sent to Ms*** via overnight courier Please do not hesitate to contact me with any additional questions, comments or concerns. Sincerely, Jeff C***Corporate CounselNew Penn Financial, LLC***

February 27, 2018Dear *** * *** and *** ***: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 *** 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, *** 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