SELECT PORTFOLIO SERVICING, INC

2018-12-11

Cecil, 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

Timely Response

2018-12-11

Cutler Bay, FL

Struggling to pay mortgage

Mortgage: Other type of mortgage

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

Timely Response

2018-12-11

San Jose, CA

Struggling to pay mortgage

Mortgage: Other type of mortgage

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

Timely Response

2018-12-11

Valley Glen, 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

Timely Response

2018-12-11

Tibbs, MS

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Select Port Folio sent me the Assumption and Modification Agreement for me to sign. The mortgage is payment is fixed for 75 months and then the balance of the mortgage has to be paid in full. I need a fixed mortgage payment for the term of the loan. This mortgage payment is setting me up to lose my home. The escrows are incorrect because I have my own Homeowner insurance and the mortgage company has put forced placed insurance n the house please fix my escrow account so my mortgage payment will be correct.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-12-11

Portland, OR

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2018-12-10

Torrance, 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

Timely Response

2018-12-10

Ogden Dunes, 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

Timely Response

2018-12-10

Hollywood, FL

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2018-12-10

Woodland, WA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I've been a XXXX customer for over 30 years. I currently have a home mortgage that is in default because of my business hitting hard times, an income reduction of approximately 90 % at its worst point and illness which took me out of circulation for over a year. I requested a short sale from SPS and have submitted several offers to complete it. We have had one problem after another with the servicer of this loan ( SPS ), including poor communication, no communication and taking substantially longer than standard practices allow to evaluate and close a sale. As a servicer - SPS should have issued a disposition on our complete file within 30 days. They have violated this standard several times. They need to be held accountable. They have not assigned me a single point of contact. I have not received any notices of such or any acknowledgments of my short sale application/process. For example, we submitted an offer to SPS a year-and-a-half ago ( XX/XX/XXXX ). It took SPS nearly a year to evaluate it. During that time the buyer was transferred by his employer to a different city and could not complete the sale. However had SPS moved in a timely manner the house would have been sold over a year ago for {$600000.00}. Last week we submitted another cash offer for the property and I was told on Monday XX/XX/XXXX, by SPS, that they would not consider the offer because the auction date is XX/XX/XXXX. I am writing to ask you to cancel the Foreclosure sale which is currently set at XX/XX/XXXX and allow the current offer, that we have submitted to SPS as the servicer of my loan, to close. There is no downside to anyone including myself, the buyer, SPS or XXXX of allowing this sale to complete. Please cancel the sale immediately and order an evaluation of this offer. I have done everything in my power to work with SPS not to lose this home to foreclosure. I do not want it to that route- I have supplied all the necessary documents they have requested in a timely manner. Please look into the violations they have committed as a servicer. If you dont, who will? If they had responded in a timely manner the last time we gave them an offer- this would have been a done deal. Loan # XXXX SPS
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-12-10

Philadelphia, PA

Trouble during payment process

Mortgage: Conventional home mortgage

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

Untimely Response

2018-12-08

San Diego, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: URGENT URGENT I am in the process of losing my home due to the ineptitude of the representatives from Select Portfolio. For many years I tried to modify my home but unfortunately, I was not able to get an affordable payment. There were a lot of terms regarding the loan that were not disclosed when I purchased the loan and I felt I have been defrauded. I also paid companies to assist me but they took my money and then I had to hire an attorney, and in the end, Select Portfolio just wants to foreclose on my property. While I do realize it is a lot of money in arrears, it is not because I did not make efforts to pay. After there seemed like there was no hope for the modification, I sadly, had to come to realization that I had to liquidate the home. I was given a listing period to get an offer. I actually had an offer previous to the listing period, and then during the review period the bank wanted more money, but never actually told us how much, just that they wanted a higher offer. This process just doesn't make sense and wastes time because the buyer made several increases and all denied. Had they said exactly what they wanted for a price it would have made things much easier. So that offer was canceled and I received a couple more offers, that seemed better for the bank. My agent was not accepting low offers, so we were looking at only the ones that might work. She was diligent in checking in with lender so we did not waste more time. Each time they told her that the number should work because it was above the 85 % of value that lender said they would take. There did not seem to be a consistency when she called the representatives at the bank and that made me nervous. She would update me with varying replies. Most recently, they advised her as recently as XX/XX/XXXX, that the offer submitted that would net them a little over 90 %, was in the process of being reviewed and that the second lien since it had been charged off, had also been approved. She also spoke with supposed Relationship Liaison Representative, who also confirmed what the Supervisor had just told her regarding finalizing the approval. In various conversations, my agent was told that although a date was in the system for sale on XX/XX/2019, that it would most likely be postponed to allow for the short sale of my home. In addition, as late as last week, one of the representatives advised that I could still apply for a modification. Furthermore, on another occasion, I was told that I could do a short pay, and so I was happy, because I was told that my family members would be able to buy the house. Well then when we were prepared and they were approved by lender, I was told we could not!! There is a lot of heartache I have gone through as well as my family. Hoping that I would keep my home for many years. Then we were told that the short sale was a viable option and that is now taken away. There should be no reason to not approve the short sale. The offer is a good offer and had they not stopped the review this week, the buyer could close within 15 days so we could certainly close by XX/XX/XXXX. Again the offer is about 90 % of the BPO of $ XXXX, the bank is using and the offer is at $ XXXX, netting them over $ XXXX. The original balance of the loan is approx $ XXXX when I was last given the amount in the past 30 days. This offer is also higher than the first offer of $ XXXX, and the one that was $ XXXX that was going to net them XXXX less than the $ XXXX because they are investors and not asking for fees. My frustration is that each representative had a different update to give. My agent kept calling to ensure that we didn't miss anything as they have not been the best at communicating. If she did not call we would not know of missing information, or like now, that the review as not moving forward. Today she called and spoke with XXXX XXXX, a manager, after speaking with XXXX XXXX, supervisor and first XXXX, representative. XXXX XXXX advised that there was nothing they could do because of the time. My agent replied by asking how this could be if she had just been told that the short sale was reviewed, and that they should have an answer regarding the approval. Ms. XXXX advised that she was sorry for all of the misinformation, and confirmed that in her notes it showed the misinformation. So if she knows about the misinformation, why are they still proceeding with what would be a wrongful foreclosure???? How can they get away with this??? Misinformation throughout my initial contact with SPS has been the norm. In another conversation, my agent advised that the pool needed work and that buyers might ask for variance ahead of time to save time later. The SPS agent told her to keep being proactive as she had been. This same representative said that things were moving along and not to worry about the sale date since we were in review and they would extend to allow for it to close. I trusted in their replies. Also, when XXXX, the supervisor, told my agent today that the review was denied, and she asked how was this possible, that the previous agents had told her we were in review, to please see the notes, he said he was not seeing anything!! She told him to please go back to all of the dates she called to listen to recorded messages, he said they couldn't because they had to be subpoenaed!! She was stunned and said how can she trust that now records were not modified?? This is very troubling to me. Yes there are a lot of accrued back payments, however, I kept requesting assistance, and delays from reviews caused most of these fees to go up and now I am facing the foreclosure of my home vs exiting with dignity. The foreclosure will also affect my position at my company. I need your assistance so that the bank will approve my short sale process. Thank you!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-12-07

Stamford, CT

Struggling to pay mortgage

Mortgage: Other type of mortgage

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

Timely Response

2018-12-07

Granada Hills, 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

Timely Response

2018-12-07

Etna, OH

Struggling to pay mortgage

Mortgage: Conventional home mortgage

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

Timely Response

2018-12-05

Plattekill, NY

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2018-12-05

Macon, VA

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2018-12-05

Cucamonga, 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

Timely Response

2018-12-05

CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage servicer SPS Select Portfolio Servicing is illegally charging me late fees, overcharging me for escrow ( taxes and insurance ) and is claiming now I am over {$55000.00} negative in my escrow account. This can not be possible. I have paid for the last 5 years since they took over, my principal, interest and more than my taxes and insurance. These criminals send me a different statement every few months changing my payment by several thousand dollars. They send me microfiche in 6 pt hard to read with glasses an account summary that is not understandable. I can not be more than say 6 months back due to escrow as they pay the property taxes each 6 months not annually. I do not owe for any back property taxes or insurance for 2 years worth, thats proposterous and there was no hidden funds I owe to prior lender. My mortgage was modified into one payment for all the late taxes. Then SPS takes over, They charge me late fees if I do not make there made up full payment. I can document all of this. When I called and complained to 3 different managers in XX/XX/2018 they miraculously said okay we will lower your payment {$1200.00} but still are off by {$1200.00} a month. I have attached proof. No ones escrow moves {$2000.00} a month up or down, its ridiculous.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-12-05

Las Vegas, NV

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I, XXXX XXXX purchased my home in XX/XX/XXXX. After sixteen years of ownership and living in my home with several mortgage holders over the years, my mortgage was turned over to Select Portfolio Service , Inc ( SPS ) in XX/XX/XXXX. Due to the Nevada housing bust during the recession, I was offered a loan modification by SPS to lower my APR rate and mortgage. So, I applied for the loan modification however, the modification process has taken a very long time processing. Ive been asked to resubmit the required forms over ten different times for one reason or the other. Finally three months ago I was fortunate to get some assistance from a very helpful SPS agent XXXX that offered his time to assist me through the whole process on their website to make sure no mistakes were made on the required forms. This time after all the required forms were submitted properly, I was informed that I didnt qualify for modification due to the fact that my income was too low to cover my mortgage! So, I requested a breakdown of my mortgage balance at first they said that my account information was Interest Bearing Principal {$220000.00} and Deferred Principal {$350000.00} Totaling at {$570000.00}! When I called and question this outrageous amount after all these years of living in my home and paying my mortgage, they instructed me to put my request in writing which I did and now they have come back to claim that their figures are not only right but the Itemization shows that I owed {$620000.00}! Ive been asking for justification for how I came to owe more than three times the original amount of my home after sixteen years to no avail. I do have supporting documents to my home ownership! Yes, there have been late payments during this modification process but owing 3 times the amount of the original cost of my home is not right or fair! I was informed that I may be a victim of a predatory lending and to seek CFPB assistance. Thanks for your assistance in this matter! Yours Truly, XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-12-05

Rialto, CA

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2018-12-05

Ladies Island, SC

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: We sold our condo which had a mortgage on it that SPS took over from XXXX XXXX XXXX a couple years before. The loan closed the morning of XX/XX/XXXX. SPS was paid off with a wire from XXXX Title and Trust the morning of the XXXX. The loan could not have closed had SPS not received the wire for {$720000.00}. The attached Master Closing Statement clearly shows XX/XX/XXXX as the settlement date as well as the disbursement date. I sent {$2000.00} extra to the closing to cover any extra charges that might show up at closing which is customary. I have also attached my XXXX XXXX XXXX bank statement which shows XXXX XXXX XXXX refunded me {$1900.00}, the overage, via wire XX/XX/XXXX and that I received immediate credit. SPS is saying the loan was closed XX/XX/XXXX when I have proof that they had their payoff of {$720000.00} the morning of XX/XX/XXXX not XX/XX/XXXX. SPS is attempting to cheat me out of {$110.00}, daily interest x 3 days totaling {$330.00}. I have also attached the SPS payoff statement showing this {$110.00} amount.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-12-04

Altamonte Spg, FL

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2018-12-04

La Habra, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: We want XXXX XXXX XXXX investegated you are the servicer on our mortgage. Our loan was originated back in XX/XX/2006. We are victims of a predatory loan. We were misrepresented by the mortgage broker and by XXXX XXXX when this loan was originated. We have reviewed our loan with specialist in the industry and there was fraud on documents from the mortgage broker to the banks and forgery on loan documents and disclosures. Since this loan was originated this loan has been passed along from XXXX XXXX, to XXXX XXXX and now XXXX XXXX XXXX We also have checked with title specilist and Sps does not hold legal title on our home properly to foreclose on our home since title recording on purchase date and from all the loan transfers from bank to bank .The title chain is broken and not correct. We are victims of predatory lending and now we are stuck with a toxic loan, Due to all these greedy large banks and corporations trying to maximize profits on homeowners that got these toxic loans. We want to hold these corporations accountable for the problems you have caused to our family. We have tried to work with sps over and over to fix our toxic loan and it just seams to fall on deaf ears. We will continue to defend our home until there is a fix on our mortgage. Stop foreclosure activity on our home and fix our mortgage. fix our toxic mortgage. lower our principal balance / balance started at XXXX k now over 670 k. bring our account current fix this ridiculas wrong toxic loan. XXXX XXXX XXXX XXXX XXXX XXXX XXXX Ca XXXX acct # XXXX XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-12-04

Saint Paul, MN

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I would like to file a complaint against the noteholder and servicing company for the mortgage on my primary residence. Im attaching supporting documents and letters for review as well. I believe I am a victim of mortgage fraud from XX/XX/XXXX and am still suffering from that experience. I filed for chapter XXXX bankruptcy in XX/XX/XXXX and the since the house was my primary residence it was discharged in the bankruptcy. I have been trying to get a loan modification for over 5 years that would bring the mortgage amount to at least to the fair market value. One of the issue appears to be valuation reports sent to me by the lender. The reports are biased in favor of the note holder. The comparables used are extraordinarily high and located in a much more desirable areas. They show an appreciation of over 33 % in 18 months which is impossible. I have made three monthly payments and each time the lender has returned them. They are claiming Im behind in my payments even though I have sent them in. More recently, SPS has retained an attorney and threatening to foreclose on the property. They offered a payment plan that was too exorbitant given my income. I have sent in the last three payments and they keep sending them back. They are demanding a lump sum of over {$29000.00} instead of agreeing to a loan modification with affordable month payments. Please refer to the attached letters and documents that show all the issues and correspondence from the loan I am reaching out to anyone that can help me resolve this issue since I do not want to lose my home. We really need the noteholder to agree to a loan modification so that we can have monthly payments affordable with our income as shown on our tax returns.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response