December 27, 2017
Houston, TX (December 27, 2017) — The records set by Hurricane Harvey—which made U.S. landfall in Texas on August 26, 2017—are staggering: It was the world’s costliest tropical cyclone, inflicting damages of just under $200 billion (exceeding the costs of hurricanes Katrina and Sandy combined). And Harvey’s rainfall (51.9 inches) likely surpassed the volume of rain associated with any flood in the continental U.S. over the last 1,000 years.
Thankfully, the 350+ employees of Shellpoint Mortgage Servicing (SMS) who work at the company’s Houston office survived the storm (which claimed 88 lives in Texas). But 29 SMS staffers were among the 194,000 families whose homes were damaged or destroyed. The great news is how—with no prompting other than conscience—Shellpoint employees nationwide rallied and begin rebuilding coworkers’ homes, providing key supplies, and raising nearly $93,000 for hurricane relief.
“We’re proud of our outstanding employees,” said SMS EVP Michael Keaton. “Even before the floodwaters fully receded, Shellpoint associates across the country began helping their coworkers. They organized repair crews in Houston and replaced damaged floors and walls in their fellow associates’ homes. They collected huge amounts of water, clothing, and other supplies. And they raised $62,800 (including a generous match of $31,400 from our holding company, Shellpoint Partners) to help the Red Cross, the ASPCA, and several other Houston-area relief charities.”
Keaton said Harvey forced SMS’ Houston office to close for two days. And after the office re-opened, many SMS associates had difficulty getting into work for weeks. “Today, even after three months,” Keaton observed, “the rebuilding of Houston continues.”
“For many weekends after Harvey struck, our Houston associates were out helping to repair their coworkers’ homes,” Keaton noted. “And then—in addition to the $62,800 already raised for community relief—Shellpoint Partners donated $30,000 in direct relief funding, specifically to benefit hurricane-affected SMS employees.”
“Many of our 29 hurricane-affected associates still cannot return home,” said Keaton. “But to support their repair efforts, they can each draw up to $1,000 from our hurricane relief fund to purchase a wide range of essential items, from drywall and flooring to beds, sofas, and major appliances. It’s been a real blessing to those families.”
Shellpoint is one of the largest non-bank servicers with over 1.7 million residential mortgage loans. Shellpoint has offices throughout the United States, including Greenville, South Carolina; Houston, Texas; Tempe, Arizona; and Jacksonville, Florida. Shellpoint’s clients include leading banks, loan originators, and real estate investment trusts (REITs). Shellpoint’s ongoing success is grounded in its ability to deliver superior asset performance and to develop creative and practical solutions for homeowners in need. Shellpoint is proud to be part of NewRez LLC (“NewRez”). NewRez is owned by New Residential Investment Corp. (NYSE: NRZ), a publicly traded REIT that invests in and actively manages residential real estate investments.
Sr. Business Communications Mgr.
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