SELECT PORTFOLIO SERVICING, INC

2015-10-08

Springfield, VA

Disclosure verification of debt

Debt collection: Mortgage

Not given enough info to verify debt
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-10-07

Foothill Ranch, 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: Yes Timely Response

2015-10-07

Stockbridge, GA

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

2015-10-07

Thompsons Station, TN

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: I originally filed complaint number XXXX against Select Portfolio Services, and their response, which I disputed, contains some outright falsehoods and misrepresentations : In the first part of SPS 's response, they said since they are only the servicer of my account, they could not respond to any allegations regarding origination. Why did it take so long to tell me this? And why are you responding to my right to rescind? In which response you say that my loan originated XX/XX/XXXX which it did, but my right to recision is based on a modification done XX/XX/XXXX, which is well within the 3 year limit. SPS also alleges that another lien was not paid off in the modification ; the fact that this collecting of funds XXXX used to pay off XXXX XXXX without my knowledge or consent was not disclosed in the modification is a major part of my complaint ( which SPS says is not their responsibility to respond to XXXX. I have ordered the following from XXXX Mortgage : Copy of Payoff Request from XXXX ( which I never authorized ), a copy of the payoff letter directed to XXXX, and a copy of the payoff check from XXXX and a copy of the release of lien sent to XXXX. As soon as I receive these I will forward to CFPB. The above is in response to SPS 's non-response. I have also registered a complaint against XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-10-06

New Rochelle, 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

2015-10-06

Kendall, FL

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

2015-10-06

Florence, KY

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

2015-10-06

Flanders, NY

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

2015-10-06

Echo Park, 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

2015-10-06

San Gabriel, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: To Whom It May Concern, I am filing this complaint because Select Portfolio Servicing XXXX Inc., hereinafter referred to as SPS, has violated the Federal Truth In Lending Act. I have filed other complaints alleging other violations, however, this is the first I have filed a complaint against them for violating the clear and concise laws that make up the Federal Truth in Lending Act, hereinafter referred to as TILA. On XXXX XXXX, 2015, I mailed SPS, a notice of rescission. SPS receive my notice of rescission on XXXX XXXX, 2015. Under TILA, the rescission is self-enforcing and automatically extinguishes the deed of trust and the promissory note by OPERATION OF LAW. The act has also noted that delivering notification to the entity to which the consumer has been directed to send payments constitutes delivery to the creditor or the assignee. Upon receipt of the rescission, they ( SPS and/or the " creditor '' ) were to take specific and mandatory steps within twenty ( 20 ) calendar days of receipt of the notice of rescission. The Act makes no distinction between the right to rescind in 3 days or extended as neither cases nor statute gives the courts equitable discretion to alter TILA 's substantive provisions. This matter was strongly supported by the Consumer Financial Protection Bureau in the recent Supreme Court Ruling XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX that was decided on XXXX XXXX, 2015. Pursuant to the Act, XXXX XXXX XXXX ( b ), if SPS did not agree with my right to rescind or felt that I was not entitled to a right to rescind, they, as a " creditor '', were suppose to file a declaratory lawsuit against me to challenge the notice of rescission. They failed to take such action. Since they have failed to take any action within the statutory 20 calendar days, they have forever waived any and all defenses to the rescission. They have also failed to take the necessary steps to provide me with a reconveyance releasing the deed of trust and tender all monies paid in connection with my debt obligation to me. Although I am not looking for any monetary awards, I am entitled to a reconveyance of the deed of trust. SPS has sent me a couple of letters in response to my notice of rescission denying my right to rescind, however, the security interest is void and of no legal effect irrespective of whether they and/or the " creditor '' makes any affirmative response to the notice. There is no provision under TILA that allows them the right or authority to grant or deny my notice of rescission. If they disputed it, they had 20 calendar days to file a lawsuit against me and they have failed to do so. By operation of law, any interest SPS and/or the " creditor '' had was automatically negated regardless of its status and whether or not it was recorded or perfected. SPS is attempting to foreclosure on a deed of trust that has been canceled and is no longer a legal instrument. Since they have failed to abide by the mandatory acts under TILA, I am under no further obligation to SPS and/or the " creditor ''. For one, they have failed to abide by the statutory 20 day window period. XXXX, they are unable to establish that they are the true " creditor '' of my debt obligation. Due to the fact that the deed of trust has been canceled, they ( SPS and/or the " creditor '' ) are unable to use the deed of trust, promissory note, or any assignments to establish ownership. They must provide proof they actually lent me the funds. This is proof they do not possess and once again failed to file a lawsuit within 20 days. I felt the need to file this complaint because I am appalled and disgusted by SPS 's blatant disregard for the law. It appears they feel they have the right to do whatever they wish without any consequences of their actions. It is my belief that these laws were implemented to protect us and they should not be allowed to ignore and disregard them
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-10-06

Florence, KY

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

2015-10-06

New Bedford, MA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Company chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2015-10-06

Aloha, OR

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

2015-10-06

Ocklawaha, FL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I had a mortgage for my home with XXXX mortgage. I was granted a modification by XXXX on XX/XX/2012. My new monthly payment is {$420.00} XXXX sold or transferred my mortgage to SPS Select Portfolio Servicing Inc. SPS Inc. refused to acknowledge my modification. I have an ongoing bankruptcy case. My modification was filed with the judge that was handling my case at the time and was approved. SPS filed paper in court to dispute my modification. My modification is valid. I spoke with a representative at SPS who told me that XXXX did not transfer the modification.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-10-05

Gilbert, AZ

Loan modification,collection,foreclosure

Mortgage: Other mortgage

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

Disputed: Yes Timely Response

2015-10-05

Crescent City, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Company chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2015-10-05

Kendall, FL

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

2015-10-05

Chula Vista, 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

2015-10-05

Gilbert, AZ

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

2015-10-05

Discovery Bay, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: I originally had a loan with XXXX in 2004. It was taken over by XXXX XXXX XXXX and the terms were changed without my awareness. They changed the interest rate somehow, not sure what happened, but the payments went up so high I could n't afford it, so I applied for a modification. I was told the only way XXXX XXXX XXXX would not talk to me until I stopped making payments. So I stopped. After two years SPS tried to foreclose and put liens against my business. I started making payments again and was advised to file bankruptcy for the house only to stop the liens. I had to sign the modification papers before I saw the terms. This was done by Select Portfolio Servicing ( SPS ). I have n't missed a payment since. They said they had nothing to do with XXXX and XXXX said they do n't have my loan anymore. About 90 days after I signed, they sent me the terms. I had already started making payments on a slightly lower amount that I thought was fixed. I later realized that it was an adjustable that would continue to go up and they did not lower the principal at all. It was added as a balloon of $ XXXX at the end of the loan period. I have tried several times with attorneys to reduce the principal as they had promised with XXXX or XXXX. Neither company will help or take any responsibility. In fact they charge me {$5.00} to make payments every month. And, the payment amount keeps going up where I can not afford to make payments much longer. And, they are threatening foreclosure ever time I try to talk to them to correct the terms. An investigation was conducted by XXXX XXXX XXXX, Certified Securitization Analysis. See attached. We paid {$2500.00}. Your agency was copied. So now, I have a growing mortgage payment, and a balloon payment, and no relief in sight. Please help.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-10-05

Arco, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I live on a limited income that has not improved since the economic crash of 2008. As a result, a home I purchased and intended to move into dropped by almost 40 % in value while my income dropped almost 60 %. As a result, I was not able to move into my home and had to rent it to make the payments. Over time I tried to hold onto the home. But the market being so poor meant I could not charge very much in rent. Thus, I was making payments out of my own pocket to hold onto the home even though it was rented. After 5 years I ran out of money. In the meantime, the new laws that were beginning to provide homeowners some relief gave me some hope that I might be able to work with my lender, XXXX XXXX XXXX, to refinance the home to a level of payment that I could afford. With the new laws, if I could demonstrate financial need, then it would be easy. That was until XXXX XXXX XXXX sold my loan to Select Portfolio Servicing. This is where the nightmare began. I am pretty educated. Went to college, live on my own. I am familiar with filling out applications for a variety of services and things I have wanted throughout my life. However, for as much as I tried, Select Portfolio Servicing put me on a merry go round that lasted over two and a half years constantly asking me for more paperwork, all while trying to foreclose on my home, destroying my credit and the entire time, denying that they were doing any of that. I finally had to call an old friend who was an attorney to see if that would help. It did get things moving a bit more in the right direction. They could of course lie to me over the phone. But they did n't seem to want to make that same mistake with an attorney. So, another 7-9 months passed and after sending them mountains of paperwork ( which by they way they had received numerous times before ) they finally told me I was approved for a trial modification, but they could n't tell me the terms and I had to start making the new payments immediately. I wanted to hold onto my home. So I took the chance. It is now 3 months later and I finally got my loan modification agreement. The best way I can describe it is an absolute joke. This is supposed to KEEP me in my home? Here are the broad strokes.. - I went from a 30 year loan to a 40 year loan. - My annual percentage rate stayed the same at an astronomical 6.2 percent ( the current national average for a 30 year fixed is at 3.75 % ) - They took the amount I had n't paid yet and tacked it onto the entire original note. So I was now paying the payments I had n't made over the past couple of years XXXX. All of that, believe it or not, I felt I could live with. As long as the payment was low, I could begin to rebuild my credit and move on with my life and work towards getting into my home some day. Except - there was XXXX final term. And here is where, after all this time and everything I had been through - my heart sank. The final term in the modification. - At the maturity date of the loan - in XXXX, when I am almost XXXX years old and after I had paid them almost {$200000.00} for 22+ years, to finally settle the loan and keep my home, I would have to give them a final balloon payment of {$46000.00}. I 'm pretty emotionally destroyed at this point. After all that, they expect me to pay them money on a home for a good XXXX of my life, and then somehow magically come up with a final $ XXXX when I am about to retire and ca n't work anymore? So after all this, if I ca n't do that then I would lose the home anyway. Only now they would have a lot more of my money. I do n't understand how this is legal. How it was allowed in the first place and continues to be with no XXXX doing anything about it. What am I supposed to do now? I 'm not homeless. But signing this deal will make me so when I am at my most vulnerable in my life. I am ashamed to be an XXXX today. The XXXX dream is dead.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-10-04

Allenwood, NJ

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: We were in a current modification with SPS ( select portfolio servicing ) who are a service company for XXXX XXXX, and XXXX XXXX, which apparently in some way related XXXX a holder of the note other the bank with the loan, last year i was sent a letter of an increase on our payment, which we were just making, the reason was for a proposed tax increase in my town, note no increase was given yet, we could not afford the new rate which went up nearly XXXX dollars, we fell behind again, I contacted SPS and requested a new Modification or PRA, since XXXX I have submitted every document they requested XXXX times now, on Monday I will be submitting the XXXX time, each time they wait 2 weeks and say I did n't send certain documents then by the time review comes I have to resubmit cause its a new month, we were rebuilding our credit and now I ca n't buy a baggie on credit cause of the situation, SPS does nothing and i have found out they have a class action lawsuit on them for this exact behavior, I just want to be able to have an affordable payment and not struggle and have to owe XXXX what my house is worth by the time its done, when I mentioned a PRA ( pay down rate ) SPS did not reply obviously seems they are n't here to help us, they also refuse to move my pay date to mid month and they see on paper I do not get my XXXX till the XXXX of each month so I automatically pay late fee, can someone legally help us, I was told there are companies that file the complaint for XXXX XXXX dollars then i heard that was a scam I have no where to turn here, SPS has changed our " case manager XXXX times since the process started, and our latest one XXXX XXXX, Stated on their recorded line on XXXX XXXX that all my documents were in but XXXX a XXXX I was driving home when she called and informed her I would send that via email ASAP, that night it was sent and 2 weeks later as we waited for review a different case manager called and informed us all paper work had to be sent as review passed, I explained XXXX said it was there, I had email proof it was sent she said cause it was a new month it did n't matter I spoke to her supervisor and i was told our tax return for XX/XX/XXXX and XX/XX/XXXX needed more pages, then i was told our bank statements were a month behind, which was false it was cause they waited, then I was told the XXXX form was not there and I sent the email confirmation she had no answer, just send it again, we contacted NJ XXXX and were guided by XXXX who wrote our budget out and did our hardship letter and sent it out on our behalf, SPS said that was not sufficient, i also sent a copy of an official letter from XXXX showing my XXXX payment, when I got it via direct deposit and what how much, SPS then said that was not sufficient, it had to be my bank statement, i sent the front page of my bank statement showing the XXXX deposit, and SPS said they want all pages of our bank statement, here is the funny part, when i asked how do you know i sent XXXX page if you did n't get the paper work, SPS had no answer.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-10-04

MI

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I have been trying to work out my mortgage with select portfolio servicing for over 8 years now they refuse to give me an accurate accounting on my loan balace, they have refused to abide by the settlement they made with the federal goverment on the loan modification they were required to offer me. A princpal reduction, reduced payments and a at market interest rate. They now have told me my mortgage is discharged and there is only a lien on my property. I have proof of {$42000.00} paid to them which I am attaching. They allowed my home to go through a tax forclosure sale that i had to reedeem. I have attached proof. I have attached proof they ordered my locks changed on my home while i was in bankruptcy and under bankruptcy protection. As of 2 weeks ago the contacted my attorney with XXXX offers on my mortgage XXXX at {$130000.00} at 7.78 % interest with approximately {$100000.00} in princpal reduction the other option {$130000.00} at 3 % interest for 30 years with a {$140000.00} ballon payment at the end of thirty years. This is just bizarre I recived a call from one of there agents and was told i did not qualify for the goverment settlement that it expired and this was the best I could do. I told them that was not true and i was was being lied to again. There continued harrassement is effecting my life and health. This company continues to harass me and will not provide me or my attorney with answers. I dont no where i stand what is going on with my home. I want the lein on my home discharged or a proper mortgage with with credit for all payments made at a proper interest rate with all there phoney fees removed.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-10-03

VA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I have a property in XXXX, Virginia and the mortgage was transferred to Selective Portfolio Servicing Inc. ( SPS ) from XXXX about five months ago. I recently received a letter from SPS that my annual taxes had increased from {$1700.00} to {$6900.00}. I called SPS customer service to dispute as my tax is still {$1700.00} yearly and was advised to send a copy to prove otherwise. I obtained a copy of the annual tax and faxed it to SPS. I have called and been advised that the fax was received. Since sending the fax I have called them by phone nearly daily for the past two weeks with the same answers that my faxed copy had been received and being investigated. However, the last time I called 3 days ago, I was told that they received my fax but nothing further had been done. This has resulted in a $ 500+ increase in my taxes. I do n't believe this organization is honest as the information on annual taxes are easily retrieved from the city 's website.
Company Response: Company believes complaint is the result of an isolated error Closed with explanation

Disputed: No Timely Response

2015-10-02

Chesapeake, VA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response