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 4
2019-11-03
Lees Summit, MO
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Complaint: XXXX XXXX should not have foreclosed on my duplex. I was making payments on my duplex but not on the second mortgage because it was paid. The second mortgage was subordinate to the duplex loan. I believe the foreclosure balance was the balance of credit cards paid off in the two loans.
XXXX second mortgage XXXX duplex loan XXXX When I bought my house our down payment was {$57000.00} Did they pay the credit cards and add the down payment back into the loan?
There was no down payment on my duplex I paid cash. There was however a loan for the rehabilitation. Did they pay this loan again?
We owned several other properties in the XXXX I now wonder if those down payments were used for the huge credit card limit ( {$180000.00} ) of which we used only a fraction.
If this is the case i already paid it back in the monthly payments I made to those cards. In addition a portion of the claims were already included in the mortgages I paid off. Those companies made no claims but it appears this money was or is being paid to debt buyers.
XXXX XXXX made no claim because it was paid XXXX XXXX made no claim because they foreclosed. XXXX XXXX made no claim because they paid themselves with my escrow surplus. I paid commerce 3 % monthly payments for 4 years for money I gave to them in the mortgages.
There is no loan on my house yet they threaten foreclosure on a balance I believe is actually the money I have paid back to myself.
There is no balance. This money would be a balloon payment I do not owe. I am making escrow payments to this non existent loan while they pay me back by paying my taxes and insurance.
I believe This loan no one gave me is now held by XXXX XXXX because it was laundered through XXXX XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-11-02
Greenwood, CA
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Complaint: Select Porfolio Servicing, Inc. currently services the mortgage loan on my residence referenced above. My Select Porfolio Servicing loan number is # XXXX. My original deed of trust was through XXXX XXXX XXXX XXXX for {$100000.00} and was settled on XX/XX/XXXX ( # XXXX ) ( see attached loan document copies ). Since my original loan, two fraudulent second deeds of trust have been made against my property that I neither agreed to nor signed for nor received any money from. The purpose of this letter is to demand proof from your company that I owe money for both second deeds of trust described in this letter.
On XX/XX/XXXX an Open End Deed of Trust was recorded in XXXX County for loan ( # XXXX ) on the above-referenced property ( see attached loan document copies ). The loan, which was made by XXXX XXXX of XXXX XXXX California, I neither agreed to nor signed for nor received any money from. The attached document contains multiple forged signatures of my name. Also included is a fraudulent signed Notary Public document signed by XXXX XXXX XXXX ( # XXXX ). I have never received any of the {$55000.00} loan amount.
On XX/XX/XXXX an Open End Deed of Trust was recorded in XXXX County for loan ( # XXXX ) on the above-referenced property ( see attached loan document copies ). The loan, which was also made by XXXX XXXX of XXXX XXXX California, I neither agreed to nor signed for nor received any money from. The attached document contains multiple forged signatures of my name. Also included is a fraudulent signed Notary Public document signed by XXXX XXXX ( # XXXX ). I have never received any of the {$130000.00} loan amount.
I have also filed a police report with the XXXX XXXX Police on XX/XX/XXXX ( Incident # XXXX ) ( see attached police report document copies ).
Unless you can prove that I received these second deeds of trust loan amounts,
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-11-02
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
2019-11-01
Ny City, NY
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I have an existing mortgage at Select Portfolio Servicing , Inc . I am refinancing at a much lower rate at XXXX. I live in a XXXX XXXX XXXX Co-op. XXXX has requested that SPS send my co-op stock certificate and lease so that the mortgage transfer can be completed. According to XXXX, this should take up to three weeks, at maximum. I have been waiting nine weeks with no end in sight. I have been told by lawyers that SPS delays intentionally to hold on to the mortgage interest as long as possible to get interest or to discourage the customer from following through on the refinance. I have called them over 10 times and have received no satisfaction. They do not care about the customer and clearly are trying to delay the process to their benefit. I have spoken to the head of customer service and have had no satisfactory explanation why SPS takes at least 4 times longer than industry standard practice.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-11-01
NJ
Written notification about debt
Debt collection: Mortgage debt
Didn't receive notice of right to dispute
Complaint: My family will be impacted by the deficiency judgement from a sheriff 's sale.
I put my house on the market had a Contract and a Short Sale approvel on my mortgage which is now with the 3rd Trustee XXXX. My loan is now part of XXXX security XXXX.
There is a replacement buyer on an a Short Sale Approval due to delay the peole I had bought something else.
SPS servicing never told me the new buyer 's contract was never reviewed. I was not told that the replacement contract was never looked at. The new buyer Contract is all cash the buyer for the same amount.
This unfair treatment will impact me and my children with the deficiency judgement from a sheriff 's sale.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-11-01
Malibu, CA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-11-01
Lees Summit, MO
Took or threatened to take negative or legal action
Debt collection: Mortgage debt
Seized or attempted to seize your property
Complaint: XXXX XXXX recorded a subordination agreement in XX/XX/XXXX referring to a mortgage dated XX/XX/XXXX. There was no mortgage and this agreement needs to be released.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-11-01
Milwaukee, WI
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: In XX/XX/2019 I opened a letter that was that was sent to me by SPS ( Select Profolio Servicing ). It stated that on XXXX my payment was increasing to {$1100.00} from about {$580.00}. I called and asked why would I be getting a letter advising that my payment would jump by almost {$600.00} 12 days before the due date. The rep explained that I should have been aware because I signed a modification, ( may I add that this would have been years ago ) Like how was I going to remember the exact date. I wanted to know what could I do and the guy mentioned that they could review it but it could 30+ days and I need to provide all this documentation as if I was applying for a new mortgage. I was very overwhelmed and upset. While I do appreciate the fact that I'm escrow and the insurance is included I am primarily paying for interest {$680.00} to be exact. I explained that I felt the company should have reached out to me prior then a 12 days before my payments would escalate like this. I called back a couple of days later and spoke with a lady, she again stated something about this being in modification and I stated that I didn't know my payments would jump up this high and asked for documentation she mentioned and she couldn't find the info and stated she would continue to review and they would send me such document but to date I haven't such document. I only receive the review. My account was moved from another servicer over to SPS and I've never liked SPS from the beginning. They make you pay a processing fee every time you conveniently try to make payments. I asked the last person what can I do to get help in this situation. I'm stating that I've been making my payments on time but I wasn't expecting an increase that would double my payments. This wouldn't leave room for unexpected home expenses and could cause hardship in such events. I was told they couldn't refinance because they do not do this. I called in on XX/XX/XXXX to make my XXXX payment to prevent negative impact to my credit. I explained that I had a letter that stated they would waive the processing fee of {$15.00}, the rep stated that she did see the letter but insisted that she could reduce the fee to {$7.00} and I asked if she could get the manager to ask if she could waive the fee because I'm already paying almost more money. She stated that she didn't have to ask the manager and that she would waive the fee. She mentioned that I had an review open and did I still need it open and I said no that I would be filing a compliant and seeing what I can do to get away from this company because obviously another modification wouldn't assist me just for me to be a worse off situation.
I feel like SPS is predatory lending. Someone in my situation is stuck with this company. Why are they allowed to receive payments but can only assist their customers with another modification that eventually will have the customer back in the same shoes they were in to begin with. They require lots of documentation that would only temporarily help the customer but will balloon in the end. I now owe more than what the home is worth and would have a difficult time getting away from SPS.
No one wants to go to go to sleep at night worrying about keeping their home when that is the goal to begin with. They want the money for the home yet not in business of wanting the property just the money but don't assist with a customer keeping their home/mortgage from defaulting. I see you have to be behind in order to possibly get up but no proactive approach. Once your behind your credit is damaged and then this point you'll be told, " oh if only you didn't have this late payment ''. You're danged if you do and danged if you don't.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-11-01
San Clemente, 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
2019-11-01
Carol City, 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
2019-10-31
Evanston, WY
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-31
CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: SPS servicing has done nothing but give me the run around. I am the heir to my parents home which has a mortgage serviced by SPS. For two years they have done nothing but tell me to turn in paperwork that i have already sent in four times. I have sent a copy of my mothers will, her death certificate, as well as my fathers. I currently unemployed but have viable and sufficient work expected within two weeks. At one point after faxing the requested paperwork for the second time i was told that i was the successor in interest and they communicated with me openly. Several months later, I tried contacting the company again only to be told that i was NOT the successsor in interest and that i needed to send the same papers for the third time. I believe SPS is slow playing me to foreclose on the house intentionally. thank you
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-30
Bohemia, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have been living in this home since XXXX, never had an issue with my mortgage company.
Seven years ago Portfolio Servicing , Inc. took over from XXXX XXXX XXXX, shortly after I was informed of this information I lost my job. I called Portfolio Servicing, Inc., tried to get as much information as I could to help myself. I told them the moment I was unemployed. They gave me information about a forbearance for twelve months.
I had no knowledge about forbearance and how they worked. This I believed at the time was a blessing! I was lead to believe that at the end of the forbearance for twelve months, a portion of the the arrears would be added to the back end of my loan. After the 12th month the forbearance was over and I was bill {$17000.00}.
due as my next payment.
None of this concerning the forbearance was put in written form or any notices to let me know my next payment after the 12th month forbearance was going to be {$17000.00}. I made all of the payments until XX/XX/XXXX, all of the payments after the forbearance were applied to previous months causing me to fall further and further behind.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-30
Bda Nicolin Perez, PR
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes complaint is the result of an isolated error Closed with explanation
2019-10-30
San Clemente, 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
2019-10-29
Key Biscayne, FL
Problem when making payments
Credit card or prepaid card: General-purpose credit card or charge card
You never received your bill or did not know a payment was due
Complaint: I was shocked when I reviewed my credit report and found 30 days late payment on the dates XX/XX/2019. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-29
North Hampton, MA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-29
Kenosha, WI
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-29
Hamilton, NJ
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-29
Fort Wayne, IN
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-29
Lees Summit, MO
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: XXXX XXXX foreclosed on my duplex for a loan that was paid off and released XX/XX/XXXX.
XXXX subordinated to a mortgage on my duplex XX/XX/XXXX.
This mortgage was released XX/XX/XXXX.
The recorded deed of trust has no exhibit A showing the legal description.
XXXX XXXX subordinated to a second mortgage released in XXXX.
The final XXXX XXXX loan should have been released in XXXX instead of the second release of XXXX XXXX XXXX. XXXX transfer to XXXX paid off the mortgage assigned to XXXX XXXX in XXXX. XXXX transferred to XXXX XXXX for ... ....? Nothing.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-29
Brkn Arw, OK
Trouble during payment process
Mortgage: FHA mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-29
Annandale, VA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-29
Hendersonville, TN
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2019-10-28
El Monte, 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