SELECT PORTFOLIO SERVICING, INC

2016-02-29

Lewisville, TX

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Select Portfolio Servicing ( SPS ), Inc. recently employed XXXX XXXX XXXX XXXX XXXX ( a law firm ), to send via certified mail a " Notice of Acceleration of Loan Maturity '' letter dated XXXX XXXX, XXXX ( see attached ) to me. As required by Texas Property Code 51.002 ( d ) and the Deed of Trust, SPS is required to send a " Notice of Demand Payment '' and a " Notice of Intent to Accelerate '' in order to provide adequate time to cure the debt and notice me that failure to cure the default will result in acceleration of the entire debt and could lead to a foreclosure and, possibly, a deficiency judgment against me if the proceeds from the foreclosure sale do not fully extinguish the secured debt in accordance with common law requirements. SPS did not send me neither the " Notice of Demand Payment '' nor the " Notice of Intent to Accelerate '' as required by law and the Deed of Trust. SPS purchased the servicing rights to my mortgage while it was in default. Therefore, they are deemed a debt collector and not an original creditor in accordance with the Fair Debt Collection Practices Act ( FDCPA ) 803 Definitions [ 15 USC 1692a ]. SPS ( or their agents ) has, despite written requests to " Cease and Desist '', continues to come onto my property and hang notices on my door ( see attached ). Finally, both XXXX XXXX XXXX XXXX, XXXX and SPS are in violation of FDCPA 1692e and 1692g ( b ) in that neither the law firm nor mortgage servicer has properly verified the debt. I have sent numerous RESPA requests asking for an itemized accounting clearly explaining each charge from inception of the loan. The payment history and all transactions from inception of the loan to XXXX XXXX have never been produced by SPS nor the previous servicer. They produce a copy of the note and an incomplete accounting which is missing years of records, does not clearly explain each charge with a date and does not reconcile back to the amount owed. Therefore, I am not able to adequately dispute the amount of the debt due to insufficient itemized accounting records.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-02-27

MI

False statements or representation

Debt collection: Mortgage

Attempted to collect wrong amount
Complaint: XXXX is fraudulent claiming to represent an alleged mortgagee and investor that has held a foreclosure by advertisement sale on my property. I have submitted qualified written request to XXXX and have submitted complaints against XXXX and they continue to move forward without response or remorse.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-02-26

Ft Lauderdale, FL

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: XXXX XXXX XXXX, XXXX. successor by merger to XXXX f/k/a XXXX ( XXXX ) committed a bona fide error when they did not renew the original flood insurance policy for the property owner/borrower. XXXX committed another error by placing force placed flood insurance that exceeded normal market value prices. XXXX committed yet another error when they force placed hazard insurance while private hazard insurance was current on the property. See Attached documents. Collectively, XXXX 's errors directly caused the property owner/borrower to go into default because ( 1 ) the payment for force placed flood insurance was raised to an amount not affordable and not reasonable and ( 2 ) charges duplicating hazard insurance were included in the total charges for both unnecessary hazard and unreasonable and unaffordable flood insurances.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-02-26

Medford, OR

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: We have been applying for a HAMP loan mod from SPS representing XXXX. We submitted a full financial packet in XXXX and then more in XXXX 2015. We were approved for a HAMP Tier 1 Trial Payment Plan in XXXX 2015, but our gross income input to the NPV was significantly higher than our actual income. We appealed in writing, clearly explaining and documenting our real income. Finally, in XXXX SPS responded to our appeal stating that they had checked and they reaffirmed that they were correct in entering our gross income. They wrote that we needed to pay the inflated trial payment by the first of the previous moth, obviously impossible. Three days later we received another letter from SPS saying we were not eligible for HAMP due to the new NPV which showed our gross income at {$2000.00} a moth less than actual. Our new Trial Payment would be almost {$1000.00} a month more than the previous offer. Our HUD certified counselor who had been helping us asked the agent on the phone, which income was right and which was the offer being made. She ( SPS ) told us both income figures were right ( even though wildly different ), and that we no longer qualified for HAMP 1, because we had not paid the inflated Trial Payment, AND that we could no longer apply for HAMP. We would have to pay their SPS offer at over 50 % of our gross income now, increasing to 80 % of our fixed income. If we did not, they would foreclose. She said there is no appeal to errors on their part on the NPV used to determine a modified mortgage payment.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-02-25

Cortlandt Manor, 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

2016-02-25

Pasadena, 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

2016-02-25

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

2016-02-25

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

2016-02-24

Stafford, 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

2016-02-24

Baltimore, MD

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: No Timely Response

2016-02-24

Interchange Square, FL

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

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

Disputed: No Timely Response

2016-02-24

South Florida, FL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: In the year 2009 my business income volume decreased almost 75 % I was diagnosed with a XXXX due to all the financial dificulties, at the same time my husband fell ill and had to go under XXXX XXXX and we had to live on credit cards to be able to make ends meet. My credit got overextended and we where not able to afford the terms on the credit cards and also it caused to default on the mortgage monthly payment. We requested a short sale and placed our property on the market for almost 6 months and have shown the property numerous times with no luck. I requested a loan modification with the now owner of the loan which is Select Portfolio Servicing , Inc being that now my situation is a whole lot better financially and health-wise and the Bank wont even consider giving me the opportunity to keep my home. I received a letter saying that it was not under the best interest of the investor to give us the opportunity to keep our home.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-02-24

South Florida, FL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: In the year 2009 my business income volume decreased almost 75 % I was diagnosed with a XXXX due to all the financial difficulties, at the same time my husband fell ill and had to go under XXXX XXXX and we had to live on credit cards to be able to make ends meet. My credit got overextended and we where not able to afford the terms on the credit cards and also it caused to default on the mortgage monthly payment. We requested a short sale and placed our property on the market for almost 6 months and have shown the property numerous times with no luck. Because my income has dropped considerably I can no longer afford the terms of the original loan and as a loyal customer I 'd like to ask for an affordable loan modification to real market value and a lower interest rate.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-02-23

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

2016-02-23

Fort Worth, 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

2016-02-23

Hinkley, 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: Yes Timely Response

2016-02-23

Franklin Lks, NJ

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

2016-02-23

Norwich, CT

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

2016-02-23

Los Gatos, 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

2016-02-23

Hamburg, MN

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

2016-02-23

Franklin Lks, NJ

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: Yes Timely Response

2016-02-23

Kawaihae, HI

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: XXXX XXXX, XXXX Sir or Madam : This is one of the multiple loans which XXXX XXXX XXXX XXXX packaged in large groups into a trust which is being managed by XXXX - XXXX XXXX. This loan has been serviced by XXXX XXXX XXXX and Select Portfolio Services, recently transferred to XXXX XXXX XXXX. We are a military family under SCRA protection and the banks have tried everything but assist us. UNETHICAL AND FRAUDELENT PRACTICE : Respond to XXXX/XXXX/SPS : Please see attached the letter received from XXXX ( XXXX XXXX XXXX ) on XXXX XXXX, XXXX from account specialist, XXXX XXXX ; who only offered a Cooperative Short Sale Program. XXXX XXXX did not request any documentation or offered other avenues to help me in retaining my property. In addition, at that time I was unaware of the programs available to home owners in retaining their properties. In writing I requested SCRA protection, I had recently arrived from a XXXX and was undergoing XXXX/assistance by the military. The loan was eventually transferred to SPS ( Select Portfolio Services ) while under SCRA protection status with XXXX XXXX XXXX. Once the loan was transferred to SPS, they responded to my letters for assistance, yet it took 3 more years to receive a modification which I could not afford. Please see letter attached, dated XXXX XXXX, XXXX, with an informational box in the middle of the letter with an example of mortgage savings. I did not received a reduction in interest rate, monthly payment, or principal reduction as stated in multiple letters that I qualified for ... etc. Interest rate was raised from 3.5 % to 4.2 ; monthly payment from {$2700.00} to {$3700.00} to {$3900.00} by XXXX XXXX and {$4100.00} by XXXX XXXX now by XXXX, new principal balanced was raised from {$660000.00} to {$750000.00}. I submitted every single document requested by XXXX and SPS ( including a copy of my son 's birth certificate ). As well, I have in my hands every piece of document received by all three organizations ; XXXX, XXXX XXXX XXXX, and Select Portfolio Services since the year XXXX when the property was purchased. Never received a letter of offer for a Trial Modification, never received contract of offer for Trial Modification, and never received a phone call offering a Trial Modification. Nonetheless, on XXXX XXXX, XXXX, I received a letter ( attached ) stating that I had not accepted a HAMP offer. This is the only letter I received regarding a Trial Modification offer. Prior to this letter I received 3 phone calls urging me to apply for a New Federal Government Modification Program qualifying me for a significant principal reduction and reduce monthly payments by an average of XXXX %. Please see letter dated XXXX XXXX, XXXX. When I contacted SPS regarding the letter dated XXXX/XXXX/XXXX, they stated that the New Federal Government Modification was a better for me and that I qualify based on the criteria met for that modification. The representative stated that it was a better modification because it would reduce the interest rate and the some of the principal. On XXXX XXXX, tired of receiving documentation after documentation with no assistance for a modification ; I met with the office of a modification expert who just took my money for a Hamp Tier 2 modification. It seemed that they were working hand in hand with SPS. I lost money trying to receive help outside the banking industry. I did not received an offer for and/or a modification for the next 3-4 years. In XXXX, I was offered a HAMP TIER 2 which I could not afford : it increased the interest rate, the monthly payment and principal. I refused to sign the agreement contract and made several phone calls to SPS requesting information. I was told that New Federal Government Modification Program had expired on XXXX XXXX, XXXX. I told them that my paper work had been placed fo
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-02-23

Wallington, NJ

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I, XXXX XXXX am submitting a complaint regarding my mortgage involving Select Portfolio Servicing , Inc due to breach/violation in my mortgage modification contact I signed in XXXX with XXXX XXXX XXXX, Attn : XXXX, FL XXXX on XXXX/XXXX/XXXX ( 2 YR contract XXXX - XXXX ) ; In my modification contract states " As of the modication effective date, a buyer or transferee of property will not be permitted, under any circumstances, be assigned to, or assumed by, a buyer of the property. '' This agreement has been violated several times. By Select Portfolio Servicing, XXXX XXXX XXXX, XXXX XXXX, division of XXXX XXXX XXXX XXXX, XXXX ; Also, Select Portfolio Servicing has excessively increase my mortgage interest rate since my mortgage modification contact has been completed. I have submitted my complaint twice via USPS on XXXX/XXXX/XXXX & XXXX/XXXX/XXXX with delivery confirmation # XXXX XXXX XXXX XXXX XXXX with approximately XXXX pages of supporting documents that was signed for and delivered XXXX XXXX/XXXX/XXXX XXXX Consumer Financial Protection Bureau at locations : XXXX, Iowa XXXX & XXXX and with the supporting documents. Please search for them. Note I never signed anything ( contract ) with any of these financial institutions but XXXX XXXX XXXX Also, as of XXXX/XXXX/XXXX Select Portfolio Servicing Inc has been trying to force me into signing my home my home over to them.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-02-22

Staten Island, NY

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: No Timely Response

2016-02-22

Flossmoor, IL

Other

Mortgage: Other mortgage

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

Disputed: No Timely Response