SELECT PORTFOLIO SERVICING, INC

2016-05-04

Alt De Hatillo, PR

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Our account had been sold to Select Portfolio Servicing, and after a single thirty day late payment. They have begun an aggressive and at times abusive campaign to seize our property. They have been offering us {$10000.00} to vacate our property. We have been receiving written harassing correspondence on a daily basis, as well as constant daily phone calls. Our original mortgage was a conventional fixed, and now they are claiming that it will be Adjusted every 5 years. This was not what we had signed up for.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-05-04

Bowie, MD

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

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

Disputed: Yes Timely Response

2016-05-03

Cocoa, FL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: We mediated with Select Portfolio Servicing , Inc. in XXXX XXXX to allow us an opportunity to sell the property through a short sale prior to foreclosing. On XXXX XXXX, XXXX we received an offer of {$50000.00} cash. SPS had a broker price opinion done and said the property was valued at {$64000.00}. We disagreed with this price and they suggested we go out and pay for a third party certified appraisal. We did and that appraisal came back at {$52000.00} on XXXX XXXX, XXXX. SPS then told us we needed to update the contract with the new price, get a new proof of funds and produce a new HUD statement. All of which we did. They denied the new offer stating it was still too low in mid XXXX. In XXXX, the Realtor got the same buyer to go up to {$57000.00}, {$5000.00} above an appraised value of {$52000.00}. SPS requested that we get an updated proof of funds and a new HUD statement, which we did. SPS sent out for another Broker price opinion. After we went through this appraisal process for the third time, SPS sent me a letter stating that two and a half weeks would not be enough time to consider this new offer. I contacted SPS multiple times asking them to postpone the sale for 30 days to give us time to complete the short sale and they have refused. I truly feel that SPS purposely strung us along making us think we had a chance at a short sale, making us jump through many hoops with no intention of allowing for a short sale.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-05-03

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

2016-05-03

Rochester, OH

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2016-05-03

Alexandria, VA

Other

Mortgage: Other mortgage

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

Disputed: No Timely Response

2016-05-03

NJ

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I refinanced my home in XX/XX/XXXX while on XXXX. We were told to have an appraisal of the home. When the appraiser came he said he could n't appraise the home cause the addition was not finished and I needed to call the broker. They spoke outside about 5 minutes and the appraiser came in and said he could finish. Our unfinished home appraised for {$610000.00} we were so happy we made the decision to add on to our home only to find out when the market crashed that there were no similar homes in my town to appraise over {$440000.00}. I have tried multiple times to get a modification over the last seven years. I have entered into several agreements for repayment plans and have made all payments on time only to be turned down for multiple different reasons. At one point oweing about XXXX in arrears getting an offer for modification of {$3500.00} per month for 22 years then having 2 ballon payment of {$370000.00} and {$89000.00}. Based on a home value of {$280000.00}. In essence going from a bad deal to a worse one. I was told from the services that if I made 6 payment of {$3500.00} on time that my mortgage would be modified and would only owe the arrears. Every time I speak to a rep of S.P.S I get a different explanation of what was explained and when I say that 's not what was discussed they apologize and say they were n't part of that conversation and would recommend training. It also has taken XXXX bankruptcies, chapter XXXX because they told my attorney they would put a lien on my life insurance and I needed to eliminate that debt to protect my family. That is highly intrusive to ask questions such as are you coming into money or have any lawsuits against anyone or plan to inherit any. The second chapter XXXX was to find out why we were denied for modifications all this time. That took 18 months and XXXX attorneys all while paying {$3400.00} per month only to be told that the trust hit a CAP limit on how many modifications they would make. Does it make sense to kick a family of XXXX out of a home they can afford but not the loan that 's unaffordable. If they are allowed to foreclose on XXXX XXXX, XXXX that would be another huge blow to my credit and my family. Considering the facts if the value of the home is {$300000.00} and that 's the most they can get at sheriff sale why throw out a family that can pay more for the home and keep them in it. I have never been imposed to paying a ballon payment not just for more than twice the home value in the end. I beg anyone to look at the situation and tell me that it would make sense for either party. Why is there no common sense? Why does n't the government get involved? Does the government and tax payers know that the banks are turning people away from making payments and making money to losing money by foreclosing. I 'm sure if the investors had a say in the matter they would want to make a profit even if it was less than what was the original terms. Something needs to be done in order to make the banks comply, if the banks caused the XXXX made XXXX dollars and only had to pay a few XXXX in fines everyone would do so and this cycle will continue. Please return request to XXXXXXXXXXXX. I look forward to your response and hopefully your help in this matter. I plan on going to the news this week and the government agencies in charge of fighting this crime. The Dodd Frank act has not helped the homeowner who has been subjected to and humiliated by the will of Big Banks!!! WHEN WILL THERE BE CHANGE FOR THE PEOPLE NOT WALLSTREET!!!!!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-05-03

Franklin Lks, NJ

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: Yes Timely Response

2016-05-03

Hinsdale, IL

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: Yes Timely Response

2016-05-02

Marlboro, MD

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

2016-05-02

Inglewood, 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

2016-05-02

Jupiter, FL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: We submitted a RMA on XXXX XXXX, 2016 via email and received confirmation of our submission. On XXXX XXXX, 2016 I called to check on the status and I was told to submit everything again with updated information. I submitted an updated application on XXXX XXXX, 2016. I called on XXXX XXXX, 2016 and was told they had everything they needed and were going to expedite the process. I called on XXXX XXXX because I had not heard anything yet and was told that the file has been referred to an attorney but to go online and submit another application. I submitted the updated information today. I thought that I would have a decision within 30 days from submission. This company has lost or ignored my paperwork twice and I would like to have the file expedited so we can begin the modification process and stop the foreclosure.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-05-02

Quartzsite, AZ

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: Dear CFPB, I hereby file a complaint/dispute against Select Portfolio Servicing , Inc. on behalf on the grounds of violating my Consumer Protection Rights under the law of the FDCPA and FCRA. On XX/XX/2016 I spoke to XXXX XXXX XXXX of SPS regarding the short sale of XXXX XXXX XXXX, XXXX, IL. in a recorded conversation I was faced w/a nasty attitude and told me it was set for foreclosure. I then called back on XXXX/XXXX/16 along with my realtor XXXX XXXX of XXXX XXXX and spoke w/XXXX who then transferred me to a XXXX XXXX, Loss Litigation & her Supv. XXXX XXXX of SPS in a recorded conversation that said the short sale was denied because my attorney 's office along w/my realtor did not get proper change of buyer forms in by XXXX/XXXX/16. This was untrue as all of this information was submitted accordingly. They went on claiming that we could not close and have a short sale in which I was entitled to {$10000.00} under the HAFA which is in writing. Proof of funds was there by XX/XX/2016. My attorney 's office ( at that time ) also called SPS & explained everything was presented accordingly. SPS continued to give all of us the runaround purposely. SPS kept pursuing " Cash for Keys for {$3000.00} instead ''. Prior to this, SPS had faxed to XXXX XXXX, XXXX XXXX, Realtor that the Short Sale had been approved by XXXX XXXX XXXX, Senior Vice President of Select Portfolio Servicing, Inc., and all they needed at that time was hardship letter which was submitted XX/XX/2016. For approximately 2 weeks I did not hear anything from SPS and neither did my realtor since XX/XX/2016. Then I received multiple letters DATED XX/XX/2016 but not RECEIVED UNTIL XX/XX/2016 postmarked XX/XX/2016 ( pre-dated on letter ) that SPS and their attorneys XXXX XXXX XXXX had scheduled another Foreclosure date of XX/XX/2016 instead of a Short Sale although SPS would tell my realtor differently as she spoke to several different individuals at SPS and had her resubmitted paperwork including current utility bills for a short sale. I went into the hospital on XX/XX/2016 to have a procedure as I am a XXXX XXXX. On XXXX I called and finally got this alleged XXXX XXXX at XXXX XXXX and tried to explain to him I was in the hospital which was relayed by my realtor, I was disputing the foreclosure and wanted to know what I could do since I was told they needed 38 days for a Short Sale, XXXX XXXX was very nasty and short with me and said it was nothing for me to do but to accept the " Cash for Keys for {$3000.00} '' ), I told him this was wrong because I did not even received all XXXX letters until XX/XX/2016 and that was LESS THAN 30 days notice for me the consumer and property owner notification of a foreclosure and it was n't fair and violated my consumer rights. He said he did not care and that was not his concern or problem and SPS would give me 30 days to vacate and kept saying it was my realtor 's error in which it was not as different ones gave her the runaround and told her a short sale could be pursued. I asked to speak to XXXX XXXX 's Supv he REFUSED to allow me to speak to his Supv named XXXX XXXX. I asked for XXXX XXXX ext. again I was REFUSED by XXXX XXXX, Relationship Manager of SPS and was very nasty. I spent a hour on the phone with SPS in a RECORDED conversation. I told him that SPS was Extortionists and I wanted to file a suit in Federal court he told me he did not care and do what I have to do. I told him that records from SPS needs to be subpoena and recorded conversations as well because SPS gives the consumer, the realtor and attorney the runaround when trying to get a resolution of the situation for a delay and extra time for the short sale. XXXX XXXX told me again, he did not care and do what I had to do. I wish that an Investigation of deceit, fraud, mishandling, fake people can be open up by the Federal government on SPS. I just need more time for Short Sale.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-05-02

Occoquan, VA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Roughly three years ago, I purchased a new home at XXXX XXXX XXXX, XXXX VA, XXXX. From the point of closing I said up an escrow account to be sure that all my taxes and insurance were being paid in a timely manner. However, from the point the mortgage began, the company who is servicing my account " Select Portfolio Servicing ( SPS ) '' has been delinquent in paying my taxes every single time. Every month I receive threatening tax collection notices from XXXX county and the tax collecting company that they use. I then have to spend hours of my time every month tracking down SPS to make sure they are paying the county, and then following up with the county only to find out that despite promises SPS did not make payment. The pattern repeats itself every six months when my taxes are due. SPS does not make payment, the notices come in, I have to rack everyone down, SPS still drags their feet, and eventually they pay, after incurring massive interest and penalties. One one occasion I even noticed that SPS was making me pay for the late fees. After I pointed this out, they reluctantly paid me back, but did not compensate me with interest, which is ironic considering how much interest they charge me for borrowing money from them. I am a pretty sophisticated consumer, but even I am uncertain if they are still charging me for the late penalty.
Company Response: Company believes complaint is the result of an isolated error Closed with explanation

Disputed: No Timely Response

2016-05-01

Brooklyn, NY

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

2016-05-01

Mill Valley, CA

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

2016-05-01

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

2016-05-01

Beverly Hills, CA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: My sub-servicer is SPS servicing I was approved for Keep Your Home California SPS did not send any information as to why KYHC was denied I spoke with KYHC whom stated and sent a letter your servicer declined the assistance because the rears would exceed XXXX by the time KYHC release the funds This was untrue in XXXX 2016 the approval date from KYHC I received reinstatement which was well under the XXXX and recently went over almost four months later SPS stated to me we will attempt to modify first and then work with KYHC At that time I did not need SPS help as KYHC was approved and ready to pay within 30-40 days the reinstatement was good for approximately 21 days and was under XXXX within the guidelines of KYHC SPS stated we can except help after we review for modification KYHC stated that is untrue SPS is not registered in that program which is updated on KYHC website in XXXX 2016 I have requested a letter with details as to exactly why KYHC was denied SPS representative stated to me we are also concerned as your payments will remain the same with KYHC program I stated leasing a room would be immediate if needed until dr releases me to work full time due to XXXX XXXX XXXX, 2016 SPS sent letter of denial for modification SPS continues to input the incorrect income for me which continues to disqualify me for assistance It appears SPS want to foreclose as SPS as denied several attempts to tender the rears due I have written letters to SPS if income I am willing to rent room, as well as my family is willing to assist until I complete medical and return to work full time KYHC - denied Modification - HAMP tier 1 and 2 denied - incorrect income I want to keep my home. disappointed with SPS and want my loan to be with another servicer - I DO NOT TRUST SPS Alleged NOTE HOLDER - stated Incorrect in letter to me Thank you for your recent correspondence. As per our database, you will need to contact the servicer for the address ( es ) listed in your email. The servicer info is as follows : Servicer : XXXX XXXX XXXX XXXX, Master Servicer Phone # : XXXX XXXX XXXX ( option XXXX ) / XXXX XXXX The servicer is the direct and only contact who would have the information you are seeking. XXXX XXXX is not an investor but a Trustee and therefore does not physically own the loan or the property. XXXX XXXX does not have any say in how the property is disposed, loan modifications, etc. This is the responsibility of the Servicer. If you were referred to XXXX XXXX by XXXX XXXX XXXX, please provide the name of XXXX XXXX XXXX representative for our records. Thank you for contacting XXXX XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX - Mortgage Backed Securities Fax XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-04-30

Lb, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: My wife passed away on XXXX 2015 after a long battle with XXXX. This was our primary home when we first got married and it carried sentimental value for me. The lender received a full modification request package on XXXX 2015. Up until my wife 's passing the file was in active review and the sale date kept getting postponed. In or about XXXX XXXX, we informed SPS of my wife 's passing and were informed we needed to send Death Certificate and Trust information. The death certificate was sent to SPS immediately thereafter. SPS continued giving me a hard time regarding other documents that were sent in but SPS claimed not received. I have been coping with the loss and as well with my own health issues with XXXX . I was never informed of a denial at all nor was a denial letter sent to me, up until today, I was in active review and only today I was informed the file was denied and they are moving forward with the sale on Monday. How can they dual track and review me and then last minute say Im sorry too bad you are denied, we are foreclosing on you, Please do not allow them to pull these fraudulent antics on hard working Americans, I have paid property taxes and mortgage for years, this is not how Americans should be treated. I am willing to pay my mortgage but they are not playing fair.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-04-29

City Ranch, CA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2016-04-29

Las Vegas, NV

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I fell behind on my mortgage after my payment increased from {$1800.00} per month to {$2400.00} per month. Basically I am on a fixed income. My loan is serviced by SPS and the owner/investor of my loan is XXXX XXXX. I was denied for a loan modification on XXXX/XXXX/2015 by SPS for HAMP 1 ( Denial letter attached ). The reason given was due to " excessive forbearance ''. However my attorney ran the exact same numbers given to me on my denial letter through the Making Home Affordable web site and it came back Positive NPV ( See attached copy of NPV ran ). My attorney states, I qualify for HAMP 1 and there is no reason they should not be approving me for HAMP 1. That SPS is acting as a co-conspirator for XXXX XXXX in BLOCKING/EVADING approving me for HAMP 1 on purpose. After my initial denial that had a false reason for denial, I re-applied again twice. Both times SPS denied me for HAMP 1 stating " Investor/Guarantor Not Participating '' and " HAMP-PSA RESTRICTION ''. So the first time they acted like they reviewed me for HAMP 1 and I did n't qualify. The next two times, they say the investor is not participating. I looked up online with the XXXX web site and it says ... '' If a PSA contains such a restriction ( HAMP PSA RESTRICTION ), the servicer MUST make " reasonable efforts '' to get the investor to waive the restriction. I do not believe SPS has made any effort to get XXXX XXXX to waive the restriction. My attorney states XXXX XXXX IS participating in HAMP 1. Bottom line is that I qualify for HAMP 1. XXXX XXXX is participating in HAMP 1. SPS is acting as a " bad actor '', " Co-conspirator '' in blocking/evading approving me for HAMP 1.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-04-29

Briones, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with non-monetary relief

Disputed: No Timely Response

2016-04-29

Alexandria, VA

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

2016-04-28

Fayetteville, 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

2016-04-28

Colo Spgs, CO

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