SELECT PORTFOLIO SERVICING, INC

2016-08-22

Norwalk, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: My mother, XXXX XXXX XXXX passed on XXXX XXXX, XXXX. I am the Successor Trustee Of The Estate, The XXXX XXXX XXXX Living Trust. SPS acknowldege me, and approved me for a Trial Modification Home Retention option, in which correspondence I uploaded dated XXXX XXXX, XXXX, and I complied with the Trial Payments. On XXXX XXXX, XXXX I received the permanent loan modification documents, in which I signed the agreement and sent back to SPS on a timely manner, uploaded the Permanent modification documents. XXXX XXXX, XXXX after I complied with the trial period payment, after I signed and sent back the agreement SPS sent me I received correspondence from SPS informing me They were NOT going to go through the Home Affordable Modification, which agreement I accepted, signed, and sent back, because they are unable to verify my identity. Mind you, I complied with everything that was asked of my, documents, payments, and they breached the agreement we reached. On XXXX XXXX, XXXX I received correspondence from SPS returning my first permanent modified payment to me. I am at loss for words with all that has happened and continues to happen. I am now facing foreclosure because SPS decided to renege on the agreement reached in which to I signed acceptance to, and payments were cashed. Please help me avoid foreclosure.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-22

Tatum, NM

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I got behind on my mortgage payments the last part of last year ( 2015 ) I applied for a modification, as I was instructed to do so by XXXX bank and not to make payments. My loan then was sold to SPS and my modification was denied, I submitted an appeal which is currently in review.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-22

Ardmore, MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-22

Harsens Is, MI

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: My loan account was transferred from XXXX to Select Portfolio Servicing as of XXXX XXXX, XXXX. I had been granted a 24 month modification from XXXX after an appeal to a denied modification in XXXX XXXX. I was seeking a PERMANENT modification so I contacted XXXX again in XXXX XXXX, XXXX after noticing that my monthly statements beginning with XXXX XXXX indicated that my 2 % interest rate had been changed from XXXX XXXX to XXXX XXXX. I wanted to ensure that a " permanent modification '' had been granted based upon the 2 % interest rate that was indicated on my monthly statements. I received written communication in XXXX XXXX from XXXX indicating that as of XXXX XXXX my monthly payment would be {$730.00} at a 2 % interest rate which is AFTER the completion of the 24 month modification. In XXXX XXXX I received communication from XXXX indicating my loan had been transferred to Select Portfolio Servicing. I contacted XXXX to inquire " why '' my loan was being transferred after I had spent the last 3 years working toward a payment that I could handle and I was told " this loan was n't beneficial to XXXX anymore. '' I concluded that statement to mean " XXXX was no longer collecting an interest rate at the 9.84 % rate which netted {$1100.00} in interest alone. I received my monthly statement from Select Portfolio Servicing which indicated a payment of {$1400.00} due XXXX XXXX, XXXX. I informed SPS of my prior arrangement with XXXX in reference to the 2 % interest rate until XXXX XXXX indicated on my monthly statements and the payment of {$730.00}. SPS conducted a review of my account and concluded that the letter sent to me from XXXX in XXXX XXXX was sent during the 24 month modification period that indicated my payment as of XXXX XXXX in the amount of {$730.00} was not an extension of the 24 month modification, although the modification ended in XXXX XXXX and my inquiry asked about the mortgage payment as of XXXX XXXX. I personally spoke with representatives from SPS Ombudsmans office, on XXXX XXXX, XXXX at XXXX I received a call from XXXX XXXX. I explained the entire situation to her. She informed me that she would assist in rectifying this situation. I received a letter from SPS on XXXX XXXX, XXXX indicating the investigation had been complete and that my payment is {$1400.00}. I called and spoke with XXXX XXXX, she indicated that the 2 % interest rate indicated on my monthly statements from XXXX XXXX to XXXX XXXX probably was an error, miscommunication by XXXX and an unfortunate situation but there was nothing else they could do regarding the previous agreement with myself and XXXX since XXXX did not provide the most recent agreement of 2 % interest rate until XXXX XXXX and {$730.00} payment in a " New Loan Modification Agreement ''. The only agreement XXXX sent SPS was the 24 month modification with a payment of {$680.00}. I received the home in a divorce decree on XXXX XXXX, XXXX. I was ordered to refinance the home. I tried but was denied in XXXX XXXX due to negative equity. I have spent 3 years working with XXXX trying to obtain a manageable mortgage only to endure this same process with SPS. How is it legal for mortgage lenders and servicers to continuously be deceitful and dishonest with consumers by not disclosing ALL information and the most recent " communications '' when service is transferred? How can a DATE indicated on a mortgage statement be viewed as " probably an error '' for 8 full months? Under the " New Rules '' it states No Surprises-clear monthly statements. This is extremely unfortunate that even after the Consumers Financial Protection Bureau has set " Rules '' and Guidelines '' in place, misconduct is continuously being displayed. I am also filing a formal complaint with the Utah Attorney General XXXX XXXX ( SPS ) and Florida Attorney General ( XXXX ).
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-08-21

Sparta, NJ

Loan servicing, payments, escrow account

Mortgage: Home equity loan or line of credit

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-08-21

Atlanta, GA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX Consumer Financial Protection Bureau XXXX XXXX, IA XXXX Headquarters address Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX Dear XXXX XXXX ; This is XXXX XXXX 's response to following SPS compliant responses : Based on the generic quality of the SPS responses I assume the following : Attached is my most recent SPS mortgage statement. Please note that the escrow exceeds P & I, which is an uneconomic position that I have carried for 11 years. Please not that I did not get a principal reduction from XXXX at the point of my XX/XX/XXXX modification. This would have brought be great relief. XXXX substituted the principal reduction with a {$140000.00} Deferral. A reduction would have opened refinance options and reverse mortgage My monthly payment after the XXXX modification is higher that my payment prior to modification. Today I am seeking a short sale or a long-term principal reduction because I can no longer afford the payments since I am a XXXX XXXX. SPS is not interested or willing to investigate and negotiate with me. All of my savings are in this home. Another interest point in the amortization and home payment history. My principal balance remains equivalent to the origination principal after 11 years and paying off XXXX mortgages. SPS consistently avoids the Fraud Challenges of the original Mortgage and modification. I would encourage CFPB to instruct SPS to contact and work with the originator and modifiers Sincerely, XXXX XXXX, XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-20

Northside, NC

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: SPS bought my loan from XXXX a couple of years ago. This year, they began trying to raise my mortgage payment up to more than {$200.00} a month. When I asked for an explanation I got different answers from different reps. The first told me that XXXX County had contacted them and told them I had n't paid enough in taxes in 2015. I viewed my tax bill online and called the county tax assessor. Not true. I paid in full and early. The next rep told me that SPS had underescrowed and the {$200.00} more a month was to address the deficit. At the time, there was about {$1900.00} in my escrow account. NC allows lenders two months of escrowed amounts. My escrowed items are {$580.00} a month, so they already had more than required. But, it was either {$200.00} more a month or I needed to pay a lump sum of more than {$2000.00}. Other letters followed these conversations. One reached way back to when my loan originated with XXXX bank and gave me a balance that was about {$75000.00} more than I owed. Another letter said the extra escrow amounts would be spread over two years at about {$40.00} a month more. Another letter said they only needed to increase my payments by around {$30.00} a month. Today, I was told that SPS discovered I had overpaid and they issued me a check in XX/XX/XXXX. I never got one. Today, I was also told that there was a deficit of only {$41.00} in total. Throughout this I have continued to make my same payment of {$1500.00}. My account shows that my monthly payment is {$1600.00}. But, there is no balance carrying forward and no late penalty assessed.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-08-19

Rehoboth Bch, DE

False statements or representation

Debt collection: Mortgage

Attempted to collect wrong amount
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-19

Rayford, TX

Application, originator, mortgage broker

Mortgage: Other mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-19

San Jacinto, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: SPS Servicing is the Servicer on my mortgage. XXXX XXXX is the lender of my mortgage. XXXX has held homeowner in extending processing for over 16 months. SPS the servicer is not evaluating documents properly. Homeowner has submitted the XXXX requesting modification over three times and the same results : lost paperwork, or denied without explanation. The most recent denial was on XXXX. Homeowner has generated a XXXX Report, data collection date of XXXX/XXXX/XXXX and shows homeowner can possibly qualify got a modification. Homeowner has been in default since XXXX/XXXX/XXXX. Homeowner is formally appealing the denial based on errors in home value, income and comparable recent sales : recent comp is {$430000.00}, sold in XXXX, XXXX. The income, DTI and LTV Loan to Values used by the services in the denial of the RMA application are in error. I have provided a recent XXXX Report dated XXXX XXXX to show more than XXXX errors on the processors side : 1. The estimated homeowners value is overstated ; off by {$130000.00} 2. Current street value of the home is {$430000.00} as of XXXX/XXXX/XXXX. The servicer has commenced double tracking while homeowner was acting in good faith under the XXXX States Attorney Generals Agreement : the National Mortgage Settlement Agreement. The servicer ' is discriminating against homeowner claims, in a form of reverse discrimination ; holding the mortgage in extended processing, denying a loan modification while homeowner is qualified, lost documents when homeowner has already provided. This homeowner, feels that their case has been unfairly treated for the following reasons : 1. No active single point of contact, constantly changing, when calls made to the single point of contact, routine routed to the collection department, never the same contact person. 2. A Single point of contact was assigned ; calls were made to the point of contact : the calls were never returned by the contact. Calls returned were from the collection department and never the same so called : " relationship manager ''. 3. The servicer has held the homeowner in extended process in bad faith, during which the value of property has increased and fallen for 940 days from XXXX/XXXX/XXXX to XXXX/XXXX/XXXX. 4. On the last XXXX application : all requested documents were provided as requested. Homeowner has confirmation via fax that documents were received by the service, bank claims that documents lost. 5. Homeowner has made numerous calls ( XXXX ) inquiring on status of application, as a foreclosure date has been set and reset ; calls were routed to next available collection department agent, comments were : A ) wrongfully advised that documents were not submitted, or B ) documents were submitted, or C ) resubmit documents because documents lost, or D ) the foreclosure date is set and homeowner is responsible for not providing the requested documents : these XXXX points are causing a state of confusion and terror to the homeowner. 6. Servicer started a double tracking procedure upon the notice of default. The foreclosure agent was aware of the loan modification in process, and moved forward with the double tracking anyway. This is a clear violation under the National Mortgage Settlement Agreement ; specifically double tracking while homeowner provided all documents under good faith. 7. Homeowner has contacted the foreclosure agent before the foreclosure sale : that the sale was extended to another 30 days. Servicer never advised homeowner of the extended sale date. XXXX. As of the above CFPB complaint date above, servicer has not advised or confirmation that the foreclosure date of sale is on hold. XXXX. Homeowner is in a state of fear created by the collection tactics by Servicer and or the foreclosure agent. XXXX. Homeowner was not advised of their HAMP/Department of Justice modification guidelines or options.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-19

Arco, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: This complaint involves Select Portfolio Servicing ( SPS ) attempting to collect a debt that they do not have any financial or legal interest to do so. Further, SPS again failed to respond to the specific request for information submitted through the CFPB complaint portal. I received a letter from SPS dated XXXX XXXX, XXXX, which claimed SPS was " a servicer for the registered shareholders of XXXX XXXX XXXX, Mortgage Pass-Through Certificates ''. According to the SEC, there are no shareholders as of XXXX because the trust was dissolved/terminated, according to their records. SPS has failed to prove XXXX XXXX XXXX, Mortgage Pass-Through Certificates still exists and provide information about the registered shareholders of the trust they represent. Further, when I contacted the former Trustee of XXXX XXXX XXXX, Mortgage Pass-Through Certificates, XXXX Bank, I was told they have no interest in XXXX XXXX XXXX, Mortgage Pass-Through Certificates and that those certificates were terminated in XXXX. My specific request of SPS is the following : 1. XXXX XXXX XXXX XXXX, Mortgage XXXX Certificates exists. 2. Prove there are shareholders to XXXX XXXX XXXX, Mortgage XXXX Certificates that you represent 3. XXXX XXXX Bank is the Trustee. 4. SPS counsel sign an affidavit stating they have examined all documents submitted to XXXX XXXX County Recorder 's Office and certify there is NO fraud. 5. Document the individual person ( name, title, contact info ) whom SPS has spoken/met with who has direct knowledge of the facts of the alleged loan you are attempting to collect by foreclosing on my home. Also, provide the date, time and evidence the conversation ( s ) occurred. NOT A COMPUTER PRINTOUT OR A COPY OF A DOCUMENT FILED WITH THE COUNTY RECORDER 'S OFFICE. 6. Provide verification that the person who signed any documents provided to the XXXX XXXX County Recorder 's Office involving my home worked for the company they purport to represent on the document.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-08-18

San Francisco, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-08-18

Eugene, OR

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-18

Newport Beach, CA

Communication tactics

Debt collection: Mortgage

Called after sent written cease of comm
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-18

Atlanta, GA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX XXXX Director XXXX XXXX Consumer Financial Protection Bureau XXXX XXXX, XXXX XXXX Headquarters address Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX Dear XXXX XXXX ; Please help and intervene and take over this process. SPS has placed my mortgage resolution in to a cookie cutting process that does not appear to be sensitive to my unique circumstances. The fraud in XXXX mortgage origination and XXXX modification. Origination : XXXX did not disclose that the mortgage was not economic ; The P & I is less than the taxes. Who buys a house to pay taxes? A home is purchased as an investment and not expense. I was given XXXX mortgage to conceal the true leverage for XXXX. I thought one was a credit card. Modification The XXXX XXXX XXXX modification did not provide a reduction in principal and interest. The P & I after modification was higher that at the origination. The modification did not provide a principal reduction. I purchased a home at XXXX XXXX XXXX in XXXX XXXX. I was returning back to the US after servicing my country not in the military but as XXXX XXXX XXXX XXXX XXXX XXXX XXXX based in XXXX XXXX. I invested my life savings of {$200000.00} on the home. Today I am exploring foreclosure options with Select Portfolio Servicing due to a major cardio arrest in XXXX. XXXX. I believe that I was defrauded by XXXX at the time of my mortgage origination. An uneconomic and irrational payment structure. My mortgage principal and interest is less than my monthly property taxes and insurance. After a modification my monthly mortgage payments are higher than my original payments. This was a negative Home Affordable Mortgage Program experience. My Principal Balance today, XXXX, after 16 years is higher than it was in XXXX. Reccomendation Please conduct and audit and analysis of my mortgage modification and complete history with XXXX, XXXX and SPS. Please assist me in receiving a debt " cram down '' valuation base of my history for the mortgages. For example, my total payment from XXXX to XXXX approximates my original principal debt or {$990000.00} in payments vs. XXXX in original debt.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-18

Northwoods, IL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-17

Atl, GA

Other

Mortgage: Other mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-17

Cameron Park, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-17

Fontana, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-17

Nyc, NY

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I am facing a foreclosure and, despite many attempts, have been unable to speak with anyone at the mortgage servicer who can be helpful in what is a complicated situation - I am a first mortgagor but do n't hold title to the condo, having been foreclosed on by the second mortgagee, who took title.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-08-16

Carmel, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-16

Wallington, NJ

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-16

Houston, TX

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I have been attempting for several years for my mortgage servicing company ( SPServicing ) to remove the private mortgage insurance from my loan. Several years ago they were provided an appraisal from a licensed appraiser that also showed the loan to current value below 80 %. I have also made sufficient extra payments to have the loan at 65 % of the original loan value and they still refuse to remove the PMI. Multiple attempts to correct this have been made in writing, to which SPServicing only responds with a form letter advising they are following company policy.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-08-16

Niverville, NY

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-08-16

Briones, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response