Shellpoint Mortgage Servicing

We understand the struggles and hardships that come with everyday life.

Whether you have missed one or multiple mortgage payments, now is the time to take action. If you have missed payments and rising late fees, you may qualify for a temporary (or permanent) solution to help you get your finances back on track and avoid foreclosure.

Seeking Help After a Storm

Tropical storms and hurricanes can leave devastating effects to your home. What's next? Here are Five Important Ways to Protect your Family and Home.

Avoiding Foreclosure: Know Your Options.

There are alternative programs that may be available to you.

Our mission is simple. We will do everything we can to keep you in your home.

Our philosophy is. Let's work together to find the right solution that works for you.

LOSS MITIGATION OPTION BENEFIT	REPAYMENT PLAN	FORBEARANCE PLAN	LOAN MODIFICATION	SHORT SALE	DEED-IN- LIEU
PERMANENTLY CHANGES LOAN TERMS			✔
HELPS CATCH UP ON PAYMENTS	✔	✔	✔
TEMPORARY HARDSHIP ASSISTANCE WITH REDUCED OR SUSPENDED PAYMENTS		✔
MAY OFFER CASH INCENTIVE				✔	✔
ALLOWS YOU TO STAY IN YOUR PROPERTY	✔	✔	✔
ALLOWS YOU TO LEAVE YOUR PROPERTY PREVENTING FORECLOSURE				✔	✔
LESS DAMAGING TO YOUR CREDIT THAN FORECLOSURE	✔	✔	✔	✔	✔

If you are having difficulties paying your mortgage, please contact us as soon as possible. The sooner you contact us, the sooner we can help. Shellpoint specialists are ready to work with you and thoroughly review your situation. This process is called the "Loss Mitigation Review."

The basic steps of the Loss Mitigation Review are as follows:

Initial Review - If you are experiencing difficulty with your mortgage payments, call us to discuss your situation. Please be prepared with your loan number, monthly pre-tax income for each borrower, and information about your current financial hardship. Let's get started.
Document Collection and Review - If our initial review of your situation determines that your loan could be eligible for loss mitigation, we will need additional documentation. Sign and return the information to us as soon as possible. View document collection.
Evaluation Notice - The Evaluation Notice is the conclusion of the Loss Mitigation Review. This letter is sent to you, which describes any Loss Mitigation Option(s) you may be eligible for.

Foreclosure Alternatives

After completing the Loss Mitigation Review steps, your Evaluation Notice will describe which foreclosure alternative you are eligible for.

Below are some of the foreclosure alternatives that could be available to you.

Forbearance

A forbearance is an offer by Shellpoint Mortgage Servicing to temporarily suspend or reduce your monthly mortgage payments for a specified period of time. This allows you to:

Have time to improve your financial situation and get back on your feet
Less damaging to your credit score than a foreclosure
Stay in your home and avoid foreclosure

Repayment Plans

A repayment plan is an agreement between you and Shellpoint Mortgage Servicing that lets you pay the past due amount, added on to your current mortgage payments, over a specified time period to bring your mortgage payment current. This gives you the opportunity to:

Resolve your delinquency
Catch up on past due payments over an extended period of time
Less damaging to your credit score than a foreclosure
Stay in your home and avoid foreclosure

Loan Modification

A loan modification is an agreement between you and Shellpoint Mortgage Servicing to change the original terms of your mortgage, such as payment amount, length of loan, interest rate, etc. This can help you:

Make a trial payment plan before permanently modifying the mortgage to make sure you can afford your home after modification
May reduce your monthly mortgage payments to a more affordable amount
Less damaging to your credit score than a foreclosure
Stay in your home and avoid foreclosure

Short Sale

A short sale is the sale of a home for less than the balance remaining on your mortgage. With this sale you can:

Eliminate or reduce your remaining mortgage debt
Assistance for relocation (if available)
Repair your credit sooner than if you went through a foreclosure

Deed-in-lieu

With a Mortgage Release (Deed-in-Lieu of Foreclosure), you transfer the ownership of your property to the owner of your mortgage in exchange for a release from your loan and payments. This can:

Eliminate your mortgage debt
May be eligible for relocation assistance
Start repairing your credit sooner than if you went through a foreclosure

Making decisions about your mortgage when you are facing financial challenges can be uncomfortable and overwhelming. With so much information available, it’s hard to know where to turn. SMS is ready to assist you in exploring the best option for your individual situation. Call us today at 1-800-365-7107.

HUD Approved Counseling

Talk to a HUD-Certified Counseling Agency free of charge. If you're having trouble paying your mortgage or you have already received a delinquency notice, contact 1-800-569-4287 for free personalized advice from housing counseling agencies certified by the U.S. Department of Housing and Urban Development (HUD). This national hotline – open 24/7 – is operated by the Homeownership Preservation Foundation, a nonprofit member of the HOPE NOW Alliance of mortgage industry members and HUD-certified counseling agencies. For free guidance online, visit Hope Now.

HUD Fair Housing

The mission of the Office of Fair Housing and Equal Opportunity (FHEO) is to eliminate housing discrimination, promote economic opportunity, and achieve diverse, inclusive communities by leading the nation in the enforcement, administration, development, and public understanding of federal fair housing policies and laws. The federal Fair Housing Act makes it unlawful to discriminate in the sale, rental, or financing of homes, including the servicing of home mortgage loans, because of race, color, national origin, religion, sex, familial status, or disability. For more information on HUD's FHEO, please visit HUD Fair_Housing.

Private Mortgage Insurance

PMI is an insurance policy you pay for that protects your mortgage lender from financial loss if you stop making your mortgage payments. And depending on your credit score, your down payment, and several other factors, your lender may require you to have PMI coverage on your mortgage.

Do you have a mortgage loan that’s funded by Fannie Mae and are interested in canceling PMI? Learn more in our Homeowner Facts Sheet.

Limited English Proficiency

If you prefer to receive communication in a language other than English, please contact us at (800) 365-7107 to speak with a translator in your preferred language about the servicing of your loan or to explain a document you received. For more information in non-English languages, please visit FHFA’s Mortgage Translations clearing house. This site contains resources such as translated documents, borrower education materials, a standardized glossary of mortgage terms, and more. Also, translation and description of commonly-used debt collection terms are available in multiple languages on the New York City Consumer Affairs website.

Forms

Shellpoint Mortgaging Servicing is dedicated to developing workable alternatives that avoid foreclosure and other legal actions. To better serve you, we have provided the documentation below for your review. Understanding that each borrower's situation is unique, please review the following information that is applicable to your needs. If you need the assistance of a live representative, please contact us.

Worksheets

Monthly Expense Tracking
Amortization Schedule

References

Ask Doctor Debt
National Foundation for Credit Counseling
Coronavirus Banking Scams

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