SELECT PORTFOLIO SERVICING, INC
Consumer Complaints
There are over 9109 complaints on file for SELECT PORTFOLIO SERVICING, INC. Dated between 2019-12-06 and 2012-02-28.
Complaints Page 124
2017-06-19
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-06-19
Friendship, ME
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-19
Greensboro, NC
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: On XXXX XXXX , XXXX I contacted XXXX XXXX XXXX XXXX regarding the removal of my current mortgage serviced by Select Portfolio Servicing from my credit file. I spoke with a representative whom advised that XXXX had received an " Electronic Communication '' from Se lect Portfolio Servicing to remove the item from their credit reporting. I spoke with Select Portfolio Servicing on the same day XXXX XXXX , XXXX , and they advised that they had not sent any communication to XXXX regarding my account and it still should be reporting as usual. Select Portfolio Servicing faxed me a copy of the information that had been reported earlier in XXXX to XXXX f or reporting. Due to XXXX XXXX XXXX XXXX removing my mortgage from my credit file, my credit score has dropped from XXXX to XXXX .
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-19
Washington, DC
Problem with a credit reporting company's investigation into an existing problem
Mortgage: FHA mortgage
Complaint: Hello, This loan was first started with XXXX XXXX from the third month forward XXXX XXXX has been reporting a late payment XX/XX/XXXX. Another payment under dispute is XX/XX/XXXX this payment wasnt provided, and the dispute with the banks as follows ; in the month of XXXX XXXX XXXX received a mortgage payment of XXXX on the XXXX, and on the XX/XX/XXXX. XXXX payment was part of a 13-month year payment program that wasnt completed. These payments have been challenged on many occasions with XXXX XXXX, and the next service provider Select Portfolio Services ( SPS ).
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Im asking the servicer to count from the date that the loan began to the present date, if you agree that the proof presented in the bank record is authentic for the month of XX/XX/XXXX then I believe that I can find this mystery third payment that SPS is claiming. XXXX XXXX on payment review ( XX/XX/XXXX ) created a new payment XXXX based on the missing payment of XXXX ( XX/XX/XXXX ) this new payment includes the XX/XX/XXXX payment with interest, and fees based on the thought that XXXX XXXX didnt receive it.
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In addition, this third payment that XXXX created has never been substantiated with a date! We have records proofing each payment provided to either XXXX XXXX or SPS. This concerns me when asked about documentation, some of the information on this matter sent to me doesnt look authentic?
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If the service provider would take the time to count the payments made on the loan they would find all payments to date, and that number is 66 payments. Now, I have requested the dates of all the missed payments. I have received missed payments of up to five from SPS within the past year and now have received a letter owning three payments behind. This miss information is being propagated to all the credit bureaus for the past 5 years driving our credit into HELL!
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XX/XX/XXXX XXXX XXXX sold my Mortgage to Select Portfolio Servicing ( SPS ). XXXX XXXX stating 3 payments behind on the mortgage and thats where it stands today! Again, I strongly believe that this information, the XXXX document arent accessible to SPS. Thus, the inaccuracy with their reporting.
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Events to keep in mind ; Year XXXX withXX/XX/XXXX payment 12 payment are verified ; Year XXXX XXXX XXXX created an additional payment to include interest and fees on the principal mortgage amount to cover the XXXX payment ; Year XXXX additional payment was made in XXXX ; Year XXXX without the XXXX payment 12 payments are verified ; XXXX XXXX sold Mortgage to service provider ; Year XXXX no payments missed 12 payments are verified ; Year XXXX no payments missed 12 payments are verified ; Year XXXX no payments missed 12 payments are verified ; Year XXXX no payments missed 6 payments are verified ; In red you see the 3 outstanding payment dates, in green you see that the payments arent outstanding! 66 payments are verified to date.
With the proof of the payment in XX/XX/XXXX the created payment in XX/XX/XXXX was done based on miss information thus neither unpaid balance exists, and the XX/XX/XXXX is negated by the additional payment in XXXX of the same year.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-18
Gloucester City, NJ
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: This is my third complaint submitted I am requesting my original note and all documentation from XXXX XXXX XXXX and XXXX XXXX because on my current modification the amount placed on the back end do not match my accounting records. I sent in a writing request on XXXX XXXX , I called 10 times e ach time they say they can not find my paperwork. I then submitted complaints and the company on XXXX XXXX sent me a copy of my current modification. That is not what my complaint is asking for I would like to review original documentation and current modification to show them that there calculation are off.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-16
Greenbelt, MD
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-16
Tarzana, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-16
Scottsdale, AZ
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Hello, We are the XXXX working on trying to do a short sale on this house. We have been attempting to do this now with Select Portfolio Servicing ( SPS ) for almost 3 years. Most recently, we had an approved short sale at $ XXXX and the buyer walked in XX/XX/XXXX due to the condition of the house. We put the house back on the market and got a full price offer on X/31/2017. However, and this is the complaint being filed, SPS claims that they have 30 days to verify a file from the last time a document is put in the file, but they are twisting the verbiage of the rules that the CFPB put in place. The 30 day clause is so that they will provide a timely answer when sellers are trying to do a workout option, but SPS twists it around and says that each time there is ANY new document in the file they get an additional 30 days. In this case here, they had a complete packet on X/XX/2017 and the buyer came up to their new value of $ XXXX and I confirmed on a recorded conversation that the file was complete and that we would have an answer by X/X/2017. However, when there was no answer by the XX/XX/XXXXI called SPS daily and finally on theXX/XX/XXXX they told me that the packet was now complete and we would have an answer by XX/XX/XXXX. The ONLY change was one item on the HUD they did not approve and we changed it and sent it back in. They can not take another 30 days just because there was one item changed on the HUD. If every time there is one little change they want an extra 30 days to review the file then everything will be expired and they will NEVER get anything accomplished. <P/>Specifically, I am formally demanding that an investigation be started in their business practices regarding short sales. After reading the rules by the CFPB it is clear to me that servicing companies are supposed to review documents in a timely manner and then give a decision within 30 or give a written reason why they can not. The 30 day rule was not put in place to give negotiators at the servicing companies extra time to delay the process. As an authorized third party we can not speak to their underwriting department and it is impossible to escalate a file with SPS. <P/>In this case, the buyer, based on the recorded conversation with their representative XXXX XXXX on XX/XX/XXXX, went ahead with her loan process and gave notice that she was moving. Now, if we can not close by the end of XXXX she will not have a home to live in because she was relying on information from SPS. Further, when I explained that I have a recorded conversation with their representative stating that we would have an answer by XX/XX/XXXX, I was simply told that she should not have stated that. Well, if I go into a XXXX - XXXX store and the clerk tells me that sodas are on sale for {$.00} then they are liable to sell me the soda for that price and the same principle applies here.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-16
Hampton, VA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have been attempting to get my home sold on a short sale for 21 months. I keep submitting complains and they respond but it is not resulting in an approval letter for any of the short sale offers being Approved. The latest issue is the bank did a BPO about 2 months ago and it came back at XXXX and we had a short sale offer for XXXX and the bank rejected the offer saying they want a counter offer. How can you reject an offer on market value and you are the one that determined the market value? This is outrageous! The other issue is that it take almost 3 or 4 weeks to get an approval or rejection letter. We have already lost one buyer because the approval process takes so long. We just submitted it again today ( X/XX/2017 ) telling them that the buyer is not going to pay over market value for this property.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-15
Easton, PA
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Difficulty submitting a dispute or getting information about a dispute over the phone
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-15
Patterson, MD
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-15
Arco, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: In XXXX 2017 , SPS was sent a Congressional Inquiry from Congresswoman XXXX XXXX 's office about issues related to their erro neous assertion that they have servicing rights and therefore a financial interest in our home.
SPS has yet to respond to the Congressional Inquiry but has scheduled a foreclosure sale for XXXX XXXX , 2017 .
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-15
Stevenson, MD
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: A loan modification review was conducted and the lender did not provide a compliant reason to deny the homeowner the option to pay back their debt. They didnt list who the investor is and why they are not required to modify the loan. They did not provide the specific reasons as to why the investor does not have to comply to RESPA guidelines.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-06-14
Huntingtn Bch, CA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
La Tijera, CA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information is missing that should be on the report
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
Colts Neck, NJ
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: We have currently applied for a loan modification with SPS, on XXXX / XXXX / 2017 at XXXX is when our problem had first occured when the lender had asked for the home owners proof of occupancy as in a utility bill. ON XXXX / XXXX / 2017 at XXXX we sent over the document that was requested and also spoke to someone at SPS that advised us they have received our document and our account was now with the underwriting team pending further decision. Now on the same day eight minutes latter SPS call s our phone and ask for the same document they just told me they received and is being review? So we had sent it again with no complaint on the same day XXXX / XXXX / 2017 at XXXX . Now we let a couple days go by and we receive another call on XXXX / XXXX / 2017 at XXXX requesting the same utility bill arguing we had never sent ir before so of course again it was sent into their office via fax. This same issue continued with them asking for this document and then saying it was not received on each and every single one of these dates XXXX / XXXX / 2017 XXXX , XXXX / XXXX / 2017 XXXX /2017 XXXX , XXXX / XXXX / 2017 XXXX until finally on XXXX / XXXX / 2017 XXXX SPS called in with a denial for the modification stating we failed to send in the required documentation needed and also stating they had no records of communicating with us or receiving anything that was needed to push this to the next step.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
N San Juan, CA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
La Tijera, CA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information is missing that should be on the report
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
Grangeville, LA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
TX
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I got behind and tried to do a modification. The doubled my house payment and are not applying any of the payment to principle. Taking their " fees '' off the top. Tried to do a short sale. They said that would take 30 days and they would " think about it ''. Have repeatedly been told by the company I should just let it go back, in other words foreclosure. I had a guy willing to buy for XXXX less than owed and they rejected. House needs lot of work. They have been impossible to deal with and Im going to be homeless because I cant pay double payments. I feel like they have oushed me into foreclosure, and the worst part is they act like they have done me a favor. Its a shame. Im not working right now and struggling just to hold on. I am currently caught up on their sorry modification plan, but it still shows like Im behind with all the credit reporting companies because they arent reporting it as paid. So any hope I might have of getting another place will be hindered by this. I have been told the second I miss a payment legal proceedings will be started.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
N San Juan, CA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
Stkn, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-14
Ehrhardt, SC
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: This is an addendum to the complaint already filed on this same subject and is further explained in the attachment. SPS has responded to the last complaint, and again has allowed XXXX to convince them that the force-placed insurance amounts they stole from my account in XXXX of XXXX and XXXX of XXXX were valid. My bank statement clearly shows that I had paid this insurance premium in XXXX of XXXX , and XXXX had been properly informed of this by my insurance company. However, they still pulled over {$2300.00} from my account in XXXX of XXXX and again in XXXX of XXXX and those funds were never placed back in my account. They also responded that the illegal and unauthorized and unjustified charges totaling {$3800.00} were allowed charges related to bankruptcy and foreclosure. These charges occurred between the dates of XXXX of XXXX through XXXX of XXXX . THERE WAS NO FORECLOSURE OR BANKRUPTCY IN ANY WAY ASSOCIATED WITH ME OR THIS LOAN AS OF THOSE DATES! Even the default date on this loan was not until XXXX or XXXX of XXXX , so I guess we 're supposed to believe that XXXX was psychic and went ahead and started assessing charges 4 years prior to my default to apply toward my foreclosure? But the addendum sent to SPS yesterday also includes the fact that, according to the payment records provided by XXXX or SPS, the first payment I made to the previous servicer, XXXX XXXX XXXX , was never applied to my account. That is detailed in the attached letter and supported by the attached documentation.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-13
CO
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My loan was transfe rred to SPS i n XX/XX/XXXX Since that time I have had continued difficulties in making payments which have caused significant time and money to correct : Account transferred on XX/XX/XXXX my automatic payment to previous servicer was canceled/never transferred to the new service. I learned of this in XX/XX/XXXX when my account was flagged as delinquent. I contacted a customer service agent and was instructed on how to bring the account current, and subsequently set up automatic payment. The automatic payment did not activate in XX/XX/XXXX because the agent I spoke with in XX/XX/XXXX quoted the wrong amount, so the account was never brought current. <P/> I brought account current in XX/XX/XXXX and set up au
tomatic payment. Payment processed normally through XX/XX/XXXX . In XX/XX/XXXX , I received notice that I had been improperly quoted an interest rate increase in XX/XX/XXXX , and my payment was going to be reduced going forward. This notice contained no information as to how the overpayment by me would be processed or handled. <P/>
In XX/XX/XXXX I also received a notice of an escrow shortage, which appears to have resulted from the servicing transfer, and no SPS agent has sufficiently explained the issue. <P/> A dditionally, in XX/XX/XXXX I received notice that my account was more than 2 months past due and my automatic payment wo uld not be processed. <P/> I contacted an agent in XX/XX/XXXX to inquire about the most recent issue. Over the course of a call lasting over 1 hour, the agent determined that my account had been mo dified internally to reflect the changed principal and interest as a result of the mis-quoted interest rate. The agent also informed me that my overpayment had been held b y SPS. They also informed me that my automatic payment was canceled as a result of the internal account modification by SPS. <P/> At no time have I been notified that my overpayment was held by SPS or how I could receive it in fact, I had never been notified of a specific amount of overpayment only the rate change. <P/> My chief complaints are : 1. Gross incompetence of the transfer of servicing which occurred on precisely the XX/XX/XXXX of the month, which is the date that the majority of people make their payments this leads people to lose track of who has their payments and whether or not they have been processed. In my case, I had to make a payment that was twice the normal monthly payment in XX/XX/XXXX to SPS as I thought my XXXX payment had processed through my previous servicer.
2 . Gross incompetence of the SPS customer service staff, who have mis-quoted required payments which resulted in the disabling of my automatic payment this led to a second instance in which I had to make twice the normal monthly payment in order to bring the account current.
3. Gross incompetence of the SPS internal systems which allowed excess interest to tbe charged in effect stealing money form me every month.
4. Gross incompetence of the SPS internal systems which failed to notify me that SPS had held my funds from overpayment and how I could obtain them.
5. Gross incompetence of the SPS internal systems which, now for a 3rd time in less than 1 year, have canceled my automatic payment, due to internal actions at SPS. <P/>
Had I not been vigilant in my follow up regarding the incorrect interest, SPS would have illegally held my overpayment.
Had I not been vigilant in my follow up of the canceled automatic withdrawal, I would have faced late payment penalties.
I have suffered loss of income due to excess time spent sorting out the internal SPS is sues that I have suffered from. I have suffered financial hardship due to payments not being processed or transferred as I had arranged with SPS internal systems, forcing me to make double payments to bring the account current. <P/> I have had multiple homes and mortgages over the past 20 years, all of which have been transferred multiple times between services never have I experienced such gross incompetence in any of those instances.
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Based on my limited experience with SPS, I feel they represent a danger to the public consumer and should be thoroughly investigated to determine if the types of improprieties I have experienced have affecte d other consumers.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-06-13
Harrisburg, PA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation