SELECT PORTFOLIO SERVICING, INC

2015-08-11

Arco, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Today, I am requesting assistance with several issues concerning the posting of payments made to XXXX XXXX XXXX XXXX XXXX XXXX to my mortgage account ( now serviced by Select Portfolio Servicing-SPS ) ; forced placed hazard insurance when I already had coverage ; mortgage payments not applied to my account in a timely manner, misappropriated and/or missing altogether ; Up Front Fees ( UFF ) I paid as a condition of obtaining a forbearance or loan modification from XXXX In XXXX XXXX, I paid {$5000.00} UFFs for a forbearance via XXXX currency. At the time, I was unaware it was illegal for anyone to charge me UFF in order to execute a modification or forbearance. Also, this payment does not appear on a mortgage statement. On XXXX/XXXX/XXXX, I paid {$1500.00} as UFF for a mortgage modification. At the time, I was unaware it was illegal for anyone to charge me UFF in order to execute a modification. Where was this payment applied? XXXX see attachment ) On XXXX XXXX, XXXX, I sent {$1200.00} ( cashier 's check from XXXX XXXX via the US Postal Service to XXXX, as requested of XXXX Where was this payment applied? ( see attachment ) On XXXX/XXXX/XXXX, I made a regularly scheduled payment of {$2700.00} directly in a XXXX XXXX XXXX branch as reflected on the attached receipt. Page 8 of a XXXX prepared statement XXXX dated XXXX/XXXX/XXXX ) lists the transaction date of XXXX/XXXX/XXXX. The payment was also called a " Misc. Posting '' although the receipt clearly states it was a regular payment. Please note several things about this transaction. First, the transaction was n't recorded on the transaction statement by XXXX until a full 9 days after payment was made ( XXXX/XXXX/XXXX ). This delay in posting adversely affects how much money from the payment is applied to principal and interest. Second, under the " PMT/Mo '' column on the payment statement by XXXX the payment was applied to a XXXX XXXX payment. This does not make sense. Please note : I made a payment of {$4400.00} on XXXX/XXXX/XXXX that was applied to XXXX PMT/Mo. Why was this transaction not applied to the next month 's payment ( XXXX ). Given this and other inaccuracies, it appears the number of months in arrearages reported by SPS is inaccurate and exaggerated. Third, what are " MISC. POSTINGS ''? On a mortgage statement dated, XXXX XXXX, XXXX XXXX Intent to Accelerate ), the monthly charges listed from XXXX/XXXX/XXXX to XXXX/XXXX/XXXX which range from {$3500.00} to {$31000.00} are erroneous. How was this calculated? The Late Charges and Uncollected Costs listed also appear to be erroneous and in need of explanation. In addition, I was charged for Hazard Insurance by XXXX XXXX XXXX in XXXX when I clearly had obtained insurance on my home. Where was the refund applied? Attached are documents relating to this issue. Most important, after numerous QWR requests SPS refuses to respond to the issue that they are NOT in compliance with the guidelines of the investors of the Pooling and Service Agreement of my mortgage-backed security XXXX XXXX ) by denying me principal reduction, principal forgiveness, interest rate reduction and affordable monthly payments as part of a mortgage modification offer.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2015-08-10

Fort Lauderdale, 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

2015-08-10

Galena, NV

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

2015-08-10

Phoenix, 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

2015-08-10

Beaumont, CA

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

2015-08-10

Phoenix, AZ

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

2015-08-10

Tarzana, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I want to file a complaint against Select Portfolio Servicing Inc . The company 's mailing address is Attn : Loan Resolution Department, XXXX XXXX XXXX, XXXX XXXX XXXX, UT XXXX. I applied for a mortgage loan modification in XXXX 2014. I have called this company each month since XXXX 2014. I am repeatedly asked for verification of salary, income tax return forms and bank statements. I have received XXXX letters from this company never specifically stating the status of my modification application. The letters received from the organization only state that correspondence was received from me. This company has numerous complaints against it on several consumer complaint web sites. My mortgage was sold to Select Portfolio Servicing Inc. by the orginal lender which was XXXX Mortgage company. Each telephone conversation I 've had with this organization resulted in vague and very cryptic conversations with representatives who never provide straight answers to straight questions. As mentioned before, I have never received correspondence indicating any status on my mortgage loan modification or what stage from beginning to end is my application in. This company provides terrible customer service. The representatives give the same information over and over again. I 've written a letter to the Board and CEO of the company with no direct response. Just correspondence vaguely stating that correspondence was received by the company from me. This entire process has been unprofessional. This company will not record " specifics '' in their correspondence to me pertaining to the modification. My goal is to successfully complete the mortgage loan modification process. I can not believe how this company does business or why it has been allowed to get away with doing business this way for so long. I am requesting assistance from your agency in this process.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-08-10

Addisleigh Park, 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 non-monetary relief

Disputed: No Timely Response

2015-08-10

Fort Lauderdale, 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

2015-08-09

Cordova, TN

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2015-08-08

Ladera Ranch, 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

2015-08-07

Cape Coral, FL

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

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

Disputed: No Timely Response

2015-08-06

Corona, 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

2015-08-06

Fayetteville, GA

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

2015-08-06

Fort Lauderdale, FL

Other

Mortgage: Other mortgage

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

Disputed: No Timely Response

2015-08-06

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

2015-08-06

Fort Lauderdale, FL

Other

Mortgage: Other mortgage

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

Disputed: No Timely Response

2015-08-06

Loganville, GA

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

2015-08-06

Chula Vista, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: We have been working with our mortgage lender, Select Portfolio Servicing Inc. XXXX SPS XXXX, to get a loan modification since XXXX of 2014, unfortunately we have been denied twice. Since I was laid off of work in XXXX of last year, we applied to Keep your Home California ( KYHC ), only to find out that we did not qualify because they stated that SPS told them that we were approved for their Unemployment Assistant Program. I called SPS and they assure us that we where approved for the unemployment program, and to wait for " the letter '', this was back in XXXX of this year. Since then I have called every week and spoken to multiple representatives who have contradicted themselves over this issue. We lost assistance from KYHC because SPS claimed we were approved, then we were told that we were not approved that it was still pending, one of the supervisors said that in the computer notes it showed that we were told that we were approved without confirmation by the loan resolution department, when I asked to talk to that department, they said that they do not talk to clients directly. Last time I called a supervisor told me that he would escalate our case and we should have a definite answer by this Friday, that someone from the resolution department would contact us. I am soooo upset because we lost 2 months of assistance from either of the programs.
Company Response: Company believes complaint is the result of an isolated error Closed with non-monetary relief

Disputed: No Timely Response

2015-08-06

NY

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: SPS failed to answer a majority of questions in the QWR letter dated XX/XX/XXXX from the XXXX and XXXX XXXX ( " the XXXX '' ). SPS says that the questions posed in the letter were " so broad that we can not determine the specific error you claim has occurred on your mortgage. We have determined these assertions are overly broad and therefor are unable and are not required to respond. '' This is a stock fallback non-answer, a loophole permitting a non-response and we reject that position. SPS has provided in writing through previous correspondence that the " investor '', " creditor '', " noteholder '', and/or " owner of the account '' is : " XXXX, as Trustee, Successor in interest to XX/XX/XXXX, XXXX XXXX, as Trustee for XXXX XXXX. " However, XXXX, as Trustee, denies that they are the owner of the mortgage and note. In a letter dated XX/XX/XXXX, XXXX XXXX XXXX of XXXX stated that, " XXXX is merely the trustee for the Trust which owns the mortgage and note. Please note that the Trust is the owner of the mortgage and note, not the trustee, or XXXX in its individual capacity. '' ( See XXXX letter. ) We now submit the following NEW ( not duplicative ) questions in the form of a QWR under Real Estate Settlement Procedures Act ( RESPA ) Section 6. 1 ) Who is the owner of the note and mortgage? A copy of the SPS letter dated XX/XX/XXXX stated that the " note holder '' ( also incorrectly referred to as " investor '', " creditor '' ) is : " XXXX, as Trustee, Successor in interest to XXXX, as trustee for XXXX XXXX XXXX XXXX, who is the owner of the account, and SPS is the mortgage servicer. '' Nowhere does SPS refer the XXXX as the " Lender ''. No documents have been provided verifying when or how XXXX became the noteholder. ( Pursuant to Dodd-Frank Amendments to TILA we have the right to request the identity ( ies ) of the holder of the mortgage note at any time 15 U.S.C. 1641 ( f ). ) 2 ) Who are the servicers ( all current and all prior ) for the above referenced note and mortgage? Pursuant to 12 USC 2605 ( b ), 24 CFR 3500.21 ( d ). We have not been notified of all servicing transfers of the loan. Provide the names and addresses of any servicer who accepted monthly payments for the loan and who administered the loan. ( Pursuant to guidelines issued on XX/XX/XXXX by the Office of the Comptroller of the Currency, SPS should have received a signed contract from the transferor ( s ) and other documents providing evidence of the debt in question. ) Provide all account numbers used by the bank ( and its predecessors ) to identify the debt at issue. 3 ) What is the payoff amount of the debt at issue? How is this amount calculated? ( SPS failed to respond to our questions in our XXXX QWR about accounting for the loan including XXXX # XXXX and XXXX # XXXX " Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities ''. ) 4 ) Did SPS report delinquencies or other negative information to credit reporting agencies? The XXXX obtained copies of their credit report from XXXX and XXXX XXXX which list erroneously that the " Account previously in dispute - now resolved - reported by credit grantor ''. We dispute any and all information provided by SPS to any agency, as this information is false and deceptive. These matters have not been resolved.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-08-06

Key Biscayne, FL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I am in the loan modification process but at the same time the mortgage lender pursues foreclosure remedies in state court while simultaneously is offering me a mortgage modification ( DOUBLE TRACKING )., This is my house primary residency ( and in Florida, XXXX XXXX JUDGES DO NOT ALLOW CANCELATION OF FORECLOSURE SALE ).
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2015-08-05

San Diego, 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

2015-08-05

Addisleigh Park, NY

Other

Mortgage: Other mortgage

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

Disputed: No Timely Response

2015-08-05

Watkins, CO

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: We just received a dismissal of bankruptcy in XXXX of this year. The next month we recived a call from Select Portfolio stating that our mortgage payment was late. I called to find out what the problem was and was told that every payment we had made with them fro the past year ( they took over the loan from XXXX XXXX XXXX, 2013 ) was late. I stated that we were current with our loan, and have subsequently spoken with them XXXX more times and told to get a payment history, and they just have the same answer every time. We did recive a letter from XXXX in XXXX of 2014 stating we has a late payment at some time in the previous 12 months. I called the number provided but they would not talk to me about it because we were in bankruptcy. We also were getting the " pay for performance '' incentive until XXXX XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with non-monetary relief

Disputed: Yes Timely Response

2015-08-04

Cleveland, OH

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