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 22
2019-06-25
Catalina, AZ
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-25
Pulaski, MS
Struggling to pay mortgage
Mortgage: Other type of mortgage
Complaint: SP Servicing, I am starting to get threats from you again about foreclosure on my home. I can not see why I should be still paying for a loan of {$25000.00} since XXXX. My home was paid for. But I decided to borrow this money to start my own business.This loan was not suppose to be a mortgage on my home, but a personal signature loan.As of I have been chasing this loan for 20 years. Each time this loan changes banks the amount stays the same. I never got a balance of the account because it never moved from the original amount on the statement of {$34000.00}. Now it still sits at {$35000.00}. This is unfair to me as a consumer. It has messed up my credit and I have this hanging over my head daily. Stressed. I am now XXXX years old living on a fixed income of {$700.00} a month, XXXX with a severe XXXX XXXX XXXX in my back. You accepted this loan from XXXX XXXX and they got it from XXXX XXXX, who got it from XXXX XXXX and others. All total before you got this mortgage I have paid ( including bankruptcy in XXXX house only ) XXXX for this loan and it is still on going. I need the original deed to my property from the start of this loan. Can you provide me with the original loan contract where the transaction occurred? I feel that I have paid enough money on this house and on that loan.Now, you have people coming by my house taking pictures I should have finished paying this loan years ago before you got it. This loan was originally meant for 7 years repayment, and went from there to 20 years long.I do not owe any more money on this property. I am seeking legal assistance to battle this issue for me in my defense. When the bank crashed in XXXX I was put in a 30 year repayment plan to XXXX without my knowledge. When I asked why I was paying for this mortgage for so long XXXX said that I was repaying a {$120000.00} mortgage on my property. XXXX sold it to you and now I suppose to be paying you {$35.00}, XXXX.to this day. I know that I have been a victim of a predatory loan situation because of the multiple moving of the bank mortgage. I am aware that mortgages are transferred or sold to different banks during the length of the loan until it is paid off However, I have never reached the end of this loan yet. It is a shame for poor people to be treated this way by banks and other financial businesses. I need for this to be resolved and be allowed to stay in my home free from harassment. I don not owe any more money for this house. Thank you.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-25
Bradley International, CA
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
2019-06-25
Stone Harbor, NJ
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-25
Bradley International, CA
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
2019-06-25
Orion Twp, MI
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: We purchased our home in XX/XX/XXXXand XXXX was original mortgage servicer. After 2 years, in XX/XX/XXXX, my husband lost his job and we were trying to get a loan modification. XXXX XXXX XXXX took over our mortgage and we were successful in getting a modification but right after our modification - our loan was sold to different servicers at least a half a dozen times. Fast forward to current and we continue to struggle to pay down the mortgage balance because in the modification change process with all the different servicers, the interest we pay on the second mortgage is 11 % and is set for 50 years! We would never have agreed to these terms!! Our primary mortgage is at 5 %. This was all a result of the initial XXXX modification but we arent making a dent in our overall balance and we cant seem to get out of this interest rate because it was someway and somehow generated with one of the many servicers that we couldnt keep up with all the different companies to track down which one changed the interest rate and terms. It was only after speaking with someone about this and just my overall frustration with our mortgage today - and that they recommended we report this because this is defined as predatory lending and if there isnt a clear track of all the servicers and the changes, it needs to be reported. Please help us!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-24
Dr Martin Luther King Jr, FL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-24
Cantonment, FL
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-24
OR
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-24
Montebello, 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
2019-06-24
Fairburn, GA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-24
Huntingtn Bch, 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
2019-06-24
Key Biscayne, FL
Struggling to pay mortgage
Mortgage: Other type of mortgage
Complaint: During the housing crisis, my home loan was originated by XXXX/XXXX and was a subprime loan as well as predatory. This bank engaged in mortgage origination, servicing and foreclosure abuses upon me. Numerous violations of the laws have been committed against me by XXXX/XXXX in relation to this loan ( to name a few, not all inclusive ) : Fair Debt Collection Practices Act violations, predatory lending, TILA violations, valuation fraud, wire fraud, mail fraud, fraud inducement, and RESPA violations. My loan has a 10.69 % interest rate, when I qualified for a commercial loan ( s ) ; valuation fraud ( as the loan officer told me that they could not use my appraisal which I had completed less than 45 days earlier, the loan officer said we have to use our guy, upon their guy submitting his appraisal, my home value had increased by {$40000.00} ) ; the loan officer informed me that in order to qualify for my loan, I had to purchase XXXX/XXXX life insurance policy because I was a single male, with no kids or, wife and XXXX XXXX ( which I did purchase ) ; I was forwarded solicitations for loan refinancing and low rates by mail from XXXX/XXXX which was why I met with them at their offices ; and the loan was a negative amortization loan. I was subjected to foreclosure abuses during the period of XX/XX/XXXX to present and have not received any relief in spite of the numerous settlement agreements by XXXX/XXXX with federal and state agencies as a result of the loans they originated.
My home is presently valued by SPSs appraiser ( XX/XX/XXXX ) at {$150000.00} and SPS states that I owe {$500000.00} for the payoff/principal amount. ( SPS obtained my loan from XXXX XXXX XXXX, who obtained my loan from the loan originator XXXX/XXXX ).
In spite of me originally/allegedly having a loan for {$270000.00} from XXXX/XXXX on an artificially inflated property value ( as the home was only worth {$75000.00} ) ; the only transactions have been my loan being transferred/sold numerous times to other companies ( XXXX XXXX XXXX and SPS ) and now I allegedly owe an additional {$220000.00}, from unknown excessive fees, and other unknown reasons.
In XX/XX/XXXX, XXXX/XXXX agreed to settle charges of abusive and negligent foreclosure practices dating back to XX/XX/XXXX. They agreed to commit {$26.00} XXXX ( along with 4 other predatory banks ) to help underwater homeowners and compensate those who lost their homes due to illegal and improper foreclosure practices. In spite of this agreement, I HAVE NOT RECEIVED ANY MANDATED RELIEF FOR THIS UNDERWATER HOME IN WHICH I PRESENTLY RESIDE.
Additionally, on or around XX/XX/XXXX, as part of an enforcement action by federal authorities and predicated upon XXXX/XXXX abuses the OCC and Federal Reserve laid out the framework in which borrowers would receive compensation for a wide range of foreclosure abuses and errors.
INSTEAD OF XXXX/XXXX COMPLYING WITH THEIR CONSUMER RELIEF OBLIGATIONS, AND TO AVOID DOING SO ; XXXX/XXXX by and through deceptive and elaborate schemes and/or fraudulent actions sold/transferred my predatory loan to XXXX XXXX XXXX to avoid providing the relief in which Im legally and lawfully entitled to receive and have not.
As a result of XXXX/XXXX failing to comply with these numerous legal settlements and avoid providing me the relief to which Im entitled ; they transferred/sold my loan to XXXX XXXX XXXX ( who chose to ignore that my loan was originated with XXXX/XXXX ).
Due to the housing crisis, and XXXX/XXXX failing to provide any relief to me for their illegal actions ( in which Im legally entitled ) and to avoid foreclosure, I requested a modification from XXXX XXXX XXXX. XXXX XXXX XXXX ( who got my loan from XXXX/XXXX ( my loan originator ) ) failed to provide any creditable and meaningful foreclosure relief. Instead of XXXX XXXX XXXX providing me the relief to which Im entitled from XXXX/XXXX ( as they originated my loan as well as participated in illegal foreclosure actions upon me ) ; XXXX XXXX XXXX choose to IGNORE THE FACT THAT MY LOAN ORIGINATED WITH XXXX/XXXX in order to avoid providing me relief.
On XX/XX/XXXX, XXXX XXXX XXXX approved my request for a modification. They charged me {$9200.00} as a good faith payment ( in spite of me receiving no relief from XXXX illegal actions upon me and numerous settlements in which Im entitled to receive relief and still have not received ).
On XX/XX/XXXX, XXXX XXXX XXXX approved a Modification Agreement Limited Term Interest Only ( Five Year Limited Term Interest Only ). This agreement consisted of numerous excessive fees, interest and other unexplained charges and questionable principal. XXXX XXXX XXXX CHOSE TO IGNORE THAT MY LOAN WAS WITH XXXX/XXXX AND FAILED TO PROVIDE ME THE RELIEF IN WHICH IM ENTITLED TO AS A RESULT OF ALL OF XXXX/XXXX SETTLEMENTS.
This modification from XXXX XXXX XXXX only steered me ( a struggling homeowner ) into a risky modification ( in spite of me receiving no relief from XXXX/XXXX illegal actions upon me and numerous settlements in which Im entitled to receive relief and still have not ), by offering interest-only loans instead of permanent modifications. Instead of modifying my mortgage into a stable affordable permanent modification, XXXX modified my loan into an unaffordable loan modification with ballooning monthly payments I can not afford.
XXXX XXXX XXXX failed to make a good faith effort to avoid foreclosure for borrowers whose mortgage loans have unfair subprime terms.
XXXX XXXX XXXX appeared to favor short-term, interest-only mortgage modifications rather than permanent ones, even when a permanent modification was commercially reasonable. Then when the initial term of the mortgage expired, myself and borrowers would see mortgage payments balloon to an amount even higher than what I originally was paying and could not afford, setting me up to continue to face foreclosure.
In XX/XX/XXXX, XXXX entered into a settlement which reflects a continuation of enforcement actions by the department and its federal and state enforcement partners to hold financial institutions accountable for abusive mortgage practices. The settlement parallels the {$25.00} XXXX XXXX XXXX XXXX ( XXXX ) reached in XX/XX/XXXX between the federal government, 49 state attorneys general and the District of Columbias attorney general and the five largest national mortgage servicers, as well as the {$960.00} XXXX settlement reached in XX/XX/XXXX between those same federal and state partners and XXXX XXXX XXXX. This settlement with XXXX is the result of negotiations that, as has been reported in XXXX XXXX plcs Annual Report and Accounts, began following the announcement of the XXXX.
Under the agreement announced today, XXXX has agreed to provide more than {$470.00} XXXX in relief to consumers and payments to federal and state parties, and to be bound to mortgage servicing standards and be subject to independent monitoring of its compliance with the agreement. More specifically, the settlement provides that : XXXX will pay {$100.00} XXXX : {$40.00} XXXX to be paid to the settling federal parties ; {$59.00} XXXX to be paid into an escrow fund administered by the states to make payments to borrowers who lost their homes to foreclosure between XX/XX/XXXX and XX/XX/XXXX ; and {$200000.00} to be paid into an escrow fund to reimburse the state attorneys general for investigation costs.
By XX/XX/XXXX, XXXX will complete {$370.00} XXXX in creditable consumer relief directly to borrowers and homeowners in the form of reducing the principal on mortgages for borrowers who are at risk of default, reducing mortgage interest rates, forgiving forbearance and other forms of relief. The relief to homeowners has been underway and will likely provide more than {$370.00} XXXX in direct benefits to borrowers because XXXX will not be permitted to claim credit for every dollar spent on the required consumer relief.
XXXX will be required to implement standards for the servicing of mortgage loans, the handling of foreclosures and for ensuring the accuracy of information provided in federal bankruptcy court. These standards are designed to prevent foreclosure abuses of the past, such as robo-signing, improper documentation and lost paperwork, and create new consumer protections. The standards provide for oversight of foreclosure processing, including third-party vendors, and new requirements to undertake pre-filing reviews of certain documents filed in bankruptcy court. The servicing standards ensure that foreclosure is a last resort by requiring XXXX to evaluate homeowners for other loss-mitigation options first. In addition, the standards restrict XXXX from foreclosing while the homeowner is being considered for a loan modification.
In addition to the above, and predicated upon the banks mortgage abuses XXXX/XXXX reached an agreement with federal agencies to address its mortgage origination, servicing and foreclosure abuses in the amount of {$470.00} XXXX and to provide {$370.00} XXXX in creditable consumer relief to benefit homeowners across the country and to reform their servicing standards. General Counsel XXXX XXXX of HUD stated : Mortgage servicers have a responsibility to help struggling borrowers remain in their home, not to push them into foreclosure. This agreement is another example of how multiple agencies in the federal government and state attorney general across the country are working to make sure the mortgage industry treats consumers fairly. This agreement not only provides relief to borrowers affected by XXXX past practices, it puts in place protections for current and future homeowners through tough mortgage servicing standards. They were mandated to help prevent past foreclosure abuses. This settlement agreement was entered into ( XX/XX/XXXX ) for {$600.00} XXXX with a series of federal agencies by the DOJ, HUD, CFPB and 49 states and the District of Columbia for XXXX/XXXX engaging in these abusive mortgage practices. ***IN SPITE OF THIS SETTLEMENT, AS OF THIS INSTANT DATE, I HAVE NOT RECEIVED ANY MORTGAGE RELIEF WHATSOEVER IN SPITE OF MY LOAN ORIGINATING WITH XXXX/XXXX AND BEING TRANSFERRED/SOLD NUMEROUS TIMES TO AVOID PROVIDING THE RELIEF IN WHICH IM LEGALLY ENTITLED AND HAVE NOT RECEIVED*** I HAVE NOT WAIVED ANY OF MY RIGHTS TO THE RELIEF IN WHICH IM ENTITLED AND HAVE NOT RECEIVED.
In spite of all of these numerous settlement agreements by XXXXXXXX, I HAVE NOT RECEIVED ANY RELIEF TO WHICH IM ENTITLED.
In XX/XX/XXXX, XXXX XXXX XXXX reached an agreement on these types of false modifications they entered into with struggling homeowners ( I HAVE NOT BEEN GIVEN ANY RELIEF FOR THESE ILLEGAL ACTIONS UPON ME ). XXXX XXXX XXXX was required to put a new loan modification program in place and review borrowers who currently have interest-only or short-term modifications to provide them more sustainable, affordable modifications. My interest-only fraudulent modification expires in XX/XX/XXXX.
I HAVE NOT RECEIVED ANY RELIEF FROM XXXX XXXX XXXX ( IN SPITE OF THE FACT THAT XXXX/XXXX IS MY LOAN ORIGINATOR ). INSTEAD, MY LOAN WAS TRANSFERRED TO SELECT PORTFOLIO SERVICING ( SPS ).
I HAVE NOT RECEIVED ANY OF THE RELIEF TO WHICH IM ENTITLED FROM XXXX/XXXX ( MY LOAN ORIGINATOR ) ; XXXX XXXX XXXX ( OBTAINED MY LOAN FROM TRANSFER/SELL FROM XXXX/XXXX ( MY LOAN ORIGINATOR ) ; AND/OR SELECT PORTFOLIO SERVICING ( WHO OBTAINED MY LOAN FROM XXXX XXXX XXXX FROM TRANSFER/SELL ( IN SPITE OF THE FACT THAT XXXX/XXXX IS MY LOAN ORIGINATOR ).
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-22
Beaver Dam, WI
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-22
Duluth, GA
Closing on a 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
2019-06-21
Lansing, IL
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-21
Oxford, GA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I am writing this letter because my attorney law group ( XXXX XXXX XXXX ) just informed me tha SPS just put my house in foreclosure when I requested a mortgage modification package on XX/XX/2019. Also, I hired an attorney who requested modification in XX/XX/2019. SPS is committing mortgage fraud and I plan to sue this company for millions.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-20
Lk Buena Vis, FL
Struggling to pay mortgage
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-20
Oakland, 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
2019-06-20
Washington, DC
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-20
Forest Heights, MD
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-19
Church Point, LA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Complaint: First let me start with my mortgage went from XXXX XXXX, to XXXX ( and they ended up in big trouble with the government ) then they rebranded to XXXX XXXX ( and they ended up in trouble with the government ) now my mortgage is going to select portfolio servicing Inc. ( I have a paper that says my mortgage with not sold to them that XXXX XXXX is still the original lien holder ) I have massive outstanding student loans my pay is already garnished for repayment, I started to do a loan modification with XXXX XXXX, before that could be finished my mortgage went to select portfolio servicing, I had to restart my mortgage modification with SPS, I filled out all of the paperwork correctly I sent them all of the documents that they wanted, and then the XXXX started, they couldnt read bank statement, so I resent them, then they said that I forgot to fill out a question on the original application, but on my copy I have here I filled it out, then They lost my W-2 tax forms, Then there was a little box that I didnt check off on one of the forms, then they couldnt read the bank statements again, then they couldnt read the W-2s I had to resend, this went on for 10 months, And finally I got a letter stating the only thing they could do to help me was add {$300.00} to my current so I wouldnt fall behind, that is the only option they have given me, when their website states they have several options to help people obtain their homeownership. This place is not out to help people they are out to hurt people and for them to lose my federal tax forms has got to be some kind of violation? Select portfolio servicing Inc. is not out to help the consumer they are out to bury them, And DonT expect to get the truth from anyone at SPS, even the customer service person told me they will LIE and threaten people with foreclosure just to get you to just pay the mortgage, and dont care if you have a hardship, the lady XXXX XXXX I was dealing with lied to me on numerous occasions, and when I called her on those lies she told me I MISS UNDERSTOOD!
Im very afraid that my complaint will provoke retribution from them?
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-18
Louisville, KY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I have discussed several accounting discrepancies with SPS but SPS has refused to make corrections to my account. SPS statements they mailed to me indicates that I owe XXXX XXXX dollars ( XXXX ) for property taxes, which is not true but they refused to tell me how they derived at that number. There are also charges that show XXXX charges for inspections with no details as to why, especially since I was not in foreclosure. I sent SPS a payment history to show that the billing was incorrect however they refused to stop the Auction of my home scheduled for XX/XX/2019. I filed a Notice of Error on XX/XX/2019 they have ignored the notice, even though they have opened an inquiry for research. They indicated they did not have to stop it because of the RESPA regulations did not apply to Dual Tracking for this incident. The notice of error stated numerous accounting errors by SPS, over charges and other erroneous charges from companies that I do not know that are on the SPS statement of charges sent out by the previous servicer and SPS.
I also was charged for numerous inspections charges for my home when my home was not in foreclosure. I was charged BPO charges and legal fees when my account was in a current status. I am not sure of what the charges are that are on my account and why, but I asked that SPS give an accounting to why they continued to charge those incorrect amounts to my mortgage account when I have indicated they were incorrect many times. They are currently ignoring my request. I requested that SPS review my account and make corrections to my interest and my principle, they have refused to this date to do that.
SPS on XX/XX/XXXX received a QWR they have refused to respond to my request, they indicated they will respond to it after my home is auctioned off which does not make a lot of sense to me. SPS has given erroneous information about the status of my account, I was told by several managers especially one that opened the research to verify the accounting errors on my account that the auction of my home would be postponed until that happened. Of course that was lies. I have requested several call backs from supervisor in the department of the Ombudsman and litigations no one will return the call. I requested that other executives in SPS ( any department ) return the call and address my inquiries and there has been no response, no call back and no evidence that they are willing to allow a workout plan. This has been blatant bullying and harassment from SPS with refusal to discuss with me the status of my account.
The interest on my account is incorrect because of the erroneous charges therefore the principle is incorrect I have as for a pay-off and settlement which they withdrew which was a breach of the prior agreement in place. I have charges on my account for forced place insurance that need to be corrected and adjusted on my account.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-18
Atl, GA
Incorrect information on your report
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-06-18
Aqua, PA
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation