SELECT PORTFOLIO SERVICING, INC

2015-09-10

Forney, TX

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

2015-09-10

Santa Ysabel, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: SPS Loan # XXXXBorrower : XXXX XXXX XXXXProperty Address : XXXX CA XXXXShort Sale Package was submitted XXXX/XXXX/2015. The foreclosure date is set for XXXX/XXXX/2015. SPS is refusing to evaluate the borrower for a short sale or even postpone the foreclosure sale date. Why did it take 15 days for SPS to make the NEW determination that they were not going to work on the file? We request that all of the servicing notes on this file be pulled by the CFPB and examined not only for federal compliance, but also for California Homeowner 's Bill of Rights compliance.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-09-10

Van Nuys, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Due to unforeseen circumstances, I have fallen behind on my mortgagepayments. I have been trying to get a loan modification with my lender ( Select Portfolio Services ). Unfortunately, It 's almost impossible to do so. I have submitted all required documents to them for a review. However, every time I call for a status, someone will tell me they 're missing several dodocuments and can not review my file, so I email and fax them again and aagain. They continue to call me and threatened me that my investor hasbegun the foreclosure process abd I will lose my house of 15 yrs if I don'tcooperate with them and submit the documents. I have submitted the samedocuments over XXXX times just in last month. I respectfully ask your agencies help with my situation.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-09-09

E Rockland Key, 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

2015-09-09

Amherst, NY

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

2015-09-09

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

2015-09-09

Moapa, NV

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I applied for a loan modification to save my home after falling behind on my mortgage payment. I fell behind because I was transferred by my job out of state in XXXX XXXX and then back again in XXXX of XXXX. I have now resolved that hardship and I am living in my home and back to work. I applied for assistance and SPS ( Select Portfolio Servicing ) made an error in my review which resulted in a denial letter dated XXXX XXXX, XXXX. I have since hired an attorney to assist me in re-submitting my application pointing out the error on the last review asking them to correct the error and review me again as this was their error and not mine. SPS is refusing to review me and correct their error. They have set a sale date and are telling me I will be foreclosed and they will not correct their error they made and allow me to at least be considered without error for assistance in saving my home. The error on that review shows up on Item # XXXX " Monthly Real Estate Taxes ''. It shows a false amount of {$600.00} per month for my property taxes. My actual property taxes are only {$110.00} per month. Since there was an error on that review I would like them to correct that error and review me again for assistance. Another change in my circumstance is that my wife no longer works. This reduces our household income and also affects the review. Both of these taken into consideration I believe I may qualify for a loan modification to save my home. SPS simply says I ran out of time. My attorney submitted a full financial complete package on XXXX XXXX, XXXX. It was confirmed received by SPS on XXXX XXXX, XXXX. My attorney spoke with SPS today and they stated they ignored that application and will not review me for assistance. They state there is no time since the sale date is on XXXX XXXX, XXXX. Considering THEY made the error on the review and not me, prior to my Notice of Sale which was recorded on XXXX XXXX, XXXX. I think they should allow me to be properly reviewed for assistance using the correct values for my NPV chart and review. I think their excuse that my application was not early enough is not valid since they made the error in the last review and not me. I would like for them to post phone my sale date and accept my application that was submitted on XXXX XXXX, XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-09-09

Jupiter, 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 non-monetary relief

Disputed: No Timely Response

2015-09-09

Tucson, AZ

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Our home is mortgaged through XXXX XXXX, the servicing agency being Select Portfolio Services XXXX " SPS '' ]. XX/XX/XXXX, the anniversary date, we notified SPS that under the terms of the agreement, we would pay the insurance carrier for hazard insurance on our property directly, and would no longer be paying through SPS. We provided a written notice and the policy declaration to the company. See, Exhibit A, appended. SPS continued to bill us monthly for the escrow payment. XX/XX/XXXX, we resubmitted the same information, again requesting that SPS no longer bill us for escrow for hazard insurance. Although SPS responded in writing [ See, Exhibit B, appended ] and we have had numerous communications with SPS, and promises that the issue would be resolved, SPS has not stopped billing. See, Exhibit C, appended. Because of concern about possible reports by SPS to credit reporting agencies that we are delinquent in mortgage payments, we have continued to pay SPS. SPS, therefore, has taken our money purportedly to pay for insurance, but has never paid the insurance carrier -- we have. At this point, SPS has overbilled us {$1000.00} -- being doublebilling for insurance escrow money SPS never paid the carrier.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-09-09

Buford, GA

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

2015-09-08

Saratoga, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

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

Disputed: Yes Timely Response

2015-09-08

FL

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: Yes Timely Response

2015-09-08

So Effingham, NH

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

2015-09-08

Jurupa Valley, CA

Other

Mortgage: Other mortgage

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

Disputed: No Timely Response

2015-09-08

San Francisco, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

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

Disputed: No Timely Response

2015-09-08

PA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My loan with XXXX was transferred to Select Portfolio Servicing , Inc . However a new title was not recorded. I had an agreement with XXXX that some old payment were deferred to the end of the loan. SPS want me to make payments now. I sent documentation that they will not honor because they said that they are not authorized. It appears there is another company UXXXX. I requested a restructure based on the home affordability act. They said they were not authorized. I requested arbitration based on my original agreement with XXXX and they would not do that too. This has been going on since XXXX 2015.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-09-07

Atl, GA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: XXXX XXXX, 2015 XXXX XXXX XXXX XXXX, GA XXXXOffice of Consumer ResponseConsumer Financial Protection BureauConsumerfinance.govRE : SPS ACCOUNT : XXXXXXXXXXXX Relationship ManagerSelect Portfolio ServicingXXXX UT XXXXDear CFPB : I have reviewed Specialized Portfolio 's Services ( SPS ) response to my XXXX 2015 complaint and find it inadequate. My initial complaints remain valid. Damages Due Withholding Funds Of BorrowerSPS has reported derogatory credit information on me while holding a significant amount of funds belonging to me since the transfer of my account servicing from XXXX to SPS. These funds were held due to an error by the XXXX servicing organizations. I am requesting compensation for damages to my credit and compounding my ability to refinance my home. Resulting from withholding this cash. How can you report payments when you are holding funds of the borrower? I was refunded over {$5000.00} in 2015 from SPS due to this error. These funds would have offset any delinquencies. An investigation by SPS and communication with XXXX will reveal this. Uneconomic and Unethical Mortgage UnderwritingMy mortgage payment of principal and interest is less than my local property payments. A simple review will reveal that this financing is uneconomic. Failure to DiscloseWhen I receive my initial mortgage and modification it was not disclosed that I would pay PMI insurance. I would like this payment eased. Damages Due to Property Tax Escrow MismanagementI don not pay my property taxes. My properties taxes are escrowed pay SPS. SPS has often miss calculated the tax escrow resulting in additional derogatory credit information and tax liens. Uneconomic Mortgage UnderwritingMy current mortgage payment after modification is much higher than my originalMortgage PI. Again this underwriting is uneconomic. I have applied for a review of this modification, which has been hampered by time lags on SPS, request for up dated in formation. I would appreciate your assistance in resolving this matter or directing me to a legal agency. Thanks. Sincerely, XXXX XXXX, XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-09-06

Las Vegas, NV

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: For over 4 years I have tried to due a loan modification with my lender. When I first applied my loan was with XXXX XXXX XXXX. I proceeded to go back and forth with them for well over a year and was told i was missing paperwork or my paperwork was incomplete. However, XXXX XXXX XXXX could n't tell me what was missing or incomplete. Instead, I had to reapply. This time all just went ignored and eventually my loan was sold. Now I 'm left to reapply yet again with with SPS. I have applied with them XXXX or XXXX times even paying to receive mediation XXXX. The most recent mediation took place in XXXX of 2015. Prior to my mediation I had informed all parties to include, SPS, the mediator and XXXX that my income was reduced by {$1500.00} per month. I was approved for a Tier 1 Harp program but it was at the wrong grossly income. At mediation, all parties did n't seam to think or feel that my income being reduced by {$1500.00} was that big of a deal. I did not sign the agreement and was advised to appeal based on my gross income being incorrect. I was advised at mediation that I had 30 days to submit by appeal. However, a letter that I received stating that I was approved for program was received 2 weeks prior to my mediation date and the bank is denying my appeal stating that I had 30 days to appeal based on the letter not the mediation. I had no idea of the terms of the agreement until I attended the mediation. This has all been rather confusing and I have complied with everything multiple times and have provided all requested and necessary documents to the lender. I received an email that they were denying the request to correct my income. I have provided them with current bank statements as well as current pay stubs in addition, I also provided bank statements from my estranged husband showing that he was paying and had been paying on the house that we where on a loan together. I have mailed letters and followed up with XXXX as well as sent all parties an email asking for yet another application to reapply since that is what they where wanting me to do since they would except and or allow the changes to my pay. This is a frustrating for all this could have been resolved 4 years ago. But then again this has allowed the bank to charge all these outrages fee 's to to my loan. Let al the bank loan payments, late fee 's, mailing fee 's ( which in access they will send XXXX of the same letter everytime ). I feel as I have been giving the run around and now I received a letter stating the foreclosure sale date to be XXXX XXXX, 2015. The bank as yet to respond to my requests has brought me here. Regarding a question below, I did n't pay an outsidecompany for assistance but paid XXXX $ XXXX XXXX seperate times to receive mediation.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with non-monetary relief

Disputed: Yes Timely Response

2015-09-05

Saint Helena, CA

Credit decision / Underwriting

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

2015-09-05

San Francisco, 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

2015-09-05

San Francisco, CA

Settlement process and costs

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

2015-09-04

Dania, 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

2015-09-04

West Covina, 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

2015-09-04

Three Bridges, NJ

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

2015-09-04

Zephyrhills, FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response