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 54
2018-10-26
Fontana, 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
2018-10-26
New Orleans, LA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-26
Oakland, 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
2018-10-26
NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: In XX/XX/XXXX XXXX sent me a letter stating that my Mortgage Loan APR, was automatically reducing to 8.4 % from 9.875 %, and it was locked for 5 years. Soon after, XXXX XXXX XXXX took over XXXX, I told XXXX XXXX XXXX about the automatic rate drop XXXX promised me for 5 years ( XXXX-XXXX ) and XXXX XXXX XXXX wouldn`t honor it.
I wrote XXXX XXXX XXXX Corporate Headquarters twice, they stated I was never mailed a letter like that from XXXX. I assured them that I did, and I wrote them again stating that I still have the original letter. They wouldn`t honor it a second time.
Soon after, XXXXXXXX XXXX took over my Mortgage loan. Select Portfolio Servicing is the servicer of my loan. I have told them over and over repeatedly, that my balance is not correct because my balance should be less because my APR should be less for 5 years and I would be paying more balance and less interest over the 5 year term. They will not accept this part of my loan servicing either. I payed {$120000.00} for my home in XXXX and now in XXXX Select Portfolio and XXXXXXXX XXXX say that I owe just over {$220000.00}. and they are trying to foreclose on my property in the next few months.
I recently read the CFPB bulletin, dated XXXX, page 4 to servicers about loan transfers and making sure they know about any modifications or trial offers made by previous servicer. And I wonder why nothing has ever been done on my loan. The following is pasted from the article ... ...
During a number of examinations, CFPB examiners determined that servicers had failed to properly identify loans that were in a trial or permanent modification with the prior servicer at time of transfer. In other exams, CFPB examiners found that servicers had failed to honor trial or permanent modification offers unless they could independently confirm that the prior servicer properly offered a modification or that the offered modification met investor criteria. In some of these instances, CFPBs examination determined that the transferee servicers did not obtain all of the information they needed from the transferor servicer. As a result, the servicers required borrowers to submit additional paperwork or to provide copies of financial documents they had already submitted to the transferor servicer. These servicers also subjected some borrowers to substantial delays while reunderwriting their loans. In some cases, the borrowers subsequently received a new modification with inferior terms, and in others, the servicer actually conducted a foreclosure sale. In all of the cases discussed above, CFPB examiners concluded, based on the particular facts, that the servicers had engaged in unfair practices.
The following from the same article was never done by either bank as well ...
Error Resolution Procedures ( 12 CFR 1024.35 ) and Requests for Information ( 12 CFR 1024.36 ) Servicers are required to meet certain procedural requirements for responding to notices of error and written information requests.
If the transferee servicer receives a notice of error or information request from the borrower or the borrowers agent, the transferee servicer must comply with all applicable requirements under 12 CFR 1024.35 and .36 within the regulatory timeframes, even if the transferor was servicing the loan at the time of the alleged error or the event about which information is requested.
A transfer does not relieve transferor servicers from their obligations under 12 CFR 1024.35 and .36. Transferor servicers are obligated to respond to notices of error and information requests received from the borrower or borrowers agent up to one year after the loan was transferred or discharged.10 In closing, something has to be done about the amount my bank says I owe and furthermore I don`t see how they have the right to foreclose on my property when they don`t even know how much I really owe.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-26
Discovery Bay, 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
2018-10-25
Lewisville, TX
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I sent a RESPA letter to SPS and called them regarding an inaccurate pay off statement and inaccurate statements. I called SPS and talked with XXXX XXXX and asked her : 1. Why the amount to reinstate my mortgage was {$450000.00} on my XX/XX/18 Statement versus {$260000.00} on my XX/XX/18 Statement.
2. What is the recurring " Other Charges and Fees '' ( see XX/XX/18 statement ) of {$5300.00}.
3. Why the historical past due amount for XX/XX/18 on my XX/XX/18 statement was {$3400.00} and changed to {$2400.00} on my XX/XX/18 statement.
4. Why did my mortgage payment go from {$2400.00} to {$5300.00} on my XX/XX/18 mortgage statement.
5. How do you justify charging a monthly mortgage amount of {$5300.00} plus {$5100.00} in Other Charges and Fees of {$5100.00} ( see XX/XX/18 stmt. ) for a total of {$10000.00} solely for XXXX..
XXXX ' could not answer the questions and their RESPA response did not answer the respective questions. XXXX stated that the statements were in error and were a projection. She went on to say that the loan had been delinquent for too long to provide an accurate accounting.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-10-25
Oakland, TN
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
2018-10-25
Addisleigh Park, NY
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-25
Bronx, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I applied for a loan modification and I was denied. The reason given for the denial is that the bank could not lower the payments even after a thorough review of my application and new financial information.
The reason for the default is due to medical issues as I injured my XXXX XXXX and had undergone a XXXX and as such I was unable to work for almost one year.
At this point I am able and willing to make the payments even if they are higher as there is sufficient income and as such I do not believe that my application for a modification should have been denied.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-25
Juniper Hills, CA
Attempts to collect debt not owed
Debt collection: Mortgage debt
Debt is not yours
Complaint: On XX/XX/XXXX a friend/family member was searching the web and they found my address and home listed as a pre foreclosure. When in fact my home has been paid off since XX/XX/XXXX. Select Portfolio Servicing Inc. along with others being sued now in court for this slanderous act has added a 7th Trustee named Trustee : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX # XXXX, XXXX, AZ XXXX Phone : ( XXXX ) XXXX. The first alleged Trustee was 1. ] Title company no longer in business as of XX/XX/XXXX, 2nd. ] XXXX a fraudulent company whom listed themselves under XXXX XXXXXXXX XXXX whom was found to be fraud by the SEC in XX/XX/XXXX. 3rd. ] XXXX 4th. ] XXXX and subsidiaries unknown, 5th. XXXX XXXX XXXXXXXX not XXXX XXXX but XXXX XXXX XXXXXXXX unknown and fraudulent. 6. ] was XXXX 7. ] is XXXX XXXX XXXX XXXX A lien was placed upon the property by a XXXX XXXX XXXX and XXXX XXXX formerly of a out of business company named XXXX XXXX XXXXXXXX as of XX/XX/XXXX whom both now are currently working and well hidden within XXXX XXXX. i XXXX XXXX XXXX own the property and have done so legally and since XX/XX/XXXX. Any attempts of pre-foreclosures have added all parties to current law suits in XXXX circuit and new cases complaint being filed at this time for trespassing and i have a XXXX XXXX USDA lien on my home against anyone whom attempts to take my property, you are now being put on notice. Your partner S.P.S. should have warned you of the current cases but they did not and now you are added along with all personnel realtors title companies and such the like. As of XX/XX/XXXX a QWR and a cease and desist was given to all parties as well No genuine issues produced by the companies involved but they claim to be erroneously sued when in fact they have been in communications with the Appellants since XX/XX/XXXX concerning these matters. The original cease and desist was given via the QWR aka qualified written request and thereafter. All parties have been served the cease and desist over and over again due to the amount of added changes to the defendants roster. They add someone every six months it seems. The evidence provided by the Appellants are clear and undisputed. The Defendants provided the addresses and locations of where to send complaints, forms and letters and such was used to show proof of service thereto all the Appellees. The appeals court can see clearly the evidence of the documents statements affidavits and claims provided are clear and undisputed by the Appellees and the use or attempt to dismiss the case before being argued before the panel and this court is obstruction of justice and failure to due process. Therefore a hearing must be set so that the evidence can be made clear and the Appellants can defend and oppose all that was submitted to the courts and not to the appellees as of XX/XX/XXXX. This case is now in XXXX Circuit court of appeals and thereafter if needed it shall be in the US SUPREME COURT OF APPEALS. SPS asked me the home owner to give them consent to foreclose on my home and i say again they asked me for consent which i will never give the answer was no and its still no. SPS produced fraudulent documents alleging a loan took place but they are four to five different copies the 1st. ] has a date on top with a bar code, the 2nd. ] has no date but adds new signatures, the 3rd has initials at the bottom the fourth has altered dates and newly added loan numbers the fifth is blank. SPS claims to the XXXX XXXX County Registrar office that they have served a Default notice to my home and i swear no notice has ever been served to my property. The newly added Trustee has been added to the multi million dollar suit. For more information go to the courts website and look up case number i, woman, XXXX XXXX XXXX i, man, XXXX XXXX XXXX Court Of Appeal No. XXXX District Court No. - XXXX XXXX XXXX XXXX et al.,, 2 ; XXXX XXXX ( XXXX ) XXXX XXXX XXXXXXXX, XXXX XXXX, XXXX, Select Portfolio Servicing Inc. not limited to employees and acquired ) XX/XX/XXXX banks involved ) FAIURE OF DUE PROCESS defendants ( s ) and appellee. SPS will lie and say this is in court and they can't say anything but they are being sneaky during our attempts of hearings and court dates trying to sneak on the property break and enter and attempt to take my home, but it aint happening. PERIOD YOU SPS FAW. SPS has attempted to apply this to my credit report but it was blocked and deleted multiple times this year. They are alleging that i have not paid them the so called original lender since two years ago when i have not had a mortgage in over 10 years approximately. They will try to weasel their way out of this complaint but this is being reported to all authorities and sorry to the newly added trustee whom is now being sued and added to the law suit in court to date.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-25
Marvin, NC
Closing on a mortgage
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-25
Key Biscayne, FL
False statements or representation
Debt collection: Mortgage debt
Attempted to collect wrong amount
Complaint: Recently, our mortgage account was transferred from Select Portfolio Servicing, LLC to XXXX XXXX XXXX. XXXX XXXX XXXX have rejected our payment claiming that the amount due is {$45000.00}. We entered into a contract with previous servicer and is therefore binding. I have attached the repayment agreement on which i have abided by terms under the new contract. The contract states the repayment plan expires on XX/XX/XXXX, yet XXXX XXXX XXXX are requesting an amount the does not comply with our contract. XXXX XXXX XXXX have engaged in Floridas deceptive business practices. The servicer continues to deny that such contract exist and moving forward with the foreclosure action. OnXX/XX/XXXX, i have been making payments timely accordantly to the contract, however the foreclosure case was never dismissed. When a defendants enters into a repayment plan the foreclosure action must be dismiss because the defendants have entered into a loss mitigation agreement with servicer. The foreclosure action has not been dismissed and XXXX is seeking a sale date yet i have been making timely payments sinceXX/XX/XXXX. We ask the Consumer Financial Protection investigate this matter, it is clear on its face that XXXX XXXX XXXX have engaged in Fraudulent banking and business practices.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-25
CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Mortgage with XXXX XXXX for {$570.00} k Int at 8.95 %. XXXX suffered hardship of a divorce and asked for a Modification sent complete package. XXXX kept asking for the same documents over and over and it was denied. Called XXXX and I was told not to make payments for them to help me. Insurance was placed and was charged two times one for {$3400.00} dlls XX/XX/XXXX and the following month {$1600.00} XX/XX/XXXX. on XX/XX/XXXX rec. The cost on insurance {$1000.00}. On XX/XX/XXXX had insurance placed again for {$3400.00} dlls. Now my balance was $ XXXX with all the int and over charging of insurance {$7500.00} dlls. XXXX kept loosing documentation and I kept sending it back to them. On XX/XX/XXXX received notice of default letter. Loan was sold to XXXX XXXXXXXX XXXX on XX/XX/XXXX. I kept sending the same package for a modification.
on XX/XX/XXXX Modification was denied. Sent them another package for modification and it was denied again XX/XX/XXXX. Now XXXX XXXX XXXX kept adding charges to my account and insurance was placed XX/XX/XXXX at {$4400.00}, overcharged {$3000.00} dlls. On XX/XX/XXXX insurance was placed again {$2500.00}, over charged {$1500.00} dlls. On XX/XX/XXXX Insurance was placed again {$5900.00} dlls, over charged XXXX dlls on XX/XX/XXXX trustee sale recorded balance $ XXXX. House was sold for $ XXXX XXXX. I filed for Bankruptcy the same day and sale was rescinded. Loan transfer to XXXX XXXX XX/XX/XXXX. I Kept sending complete packages for modification. Again denied on XXXX. On XX/XX/XXXX XXXX XXXX approved Modification with a Loan Balance of $ XXXX and received a letter that all late charges would be waived. There were no charges waived. The Banks kept loosing my paperwork purposely to be overcharged.My Loan was modified to {$2400.00} XXXX dlls per month 2 % int. I would like help on lowering my Principle. As you can see I have been overcharged on placement insurance, and many extra fees that I was over charged for not approving me and string me along to charge all the fees. It took 6 years to approve the modification unbelievable, And I have documentation to support everything. The Value of my home at this time is around $ 750K. The loan is underwater and it has been for 4 years. I called the new servicer SPS asking for the accounting of my loan since it originated. It took about 5 calls and finally they sent one. It can not be read I called them to explain the ledger form it was sent and I was told someone will call me back to explain. I need help on lowering my principal.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-24
NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I applied for a Loan Modification from Select Portfolio Servicing and submitted all requested before the end of XX/XX/2018.As soon as this was done I started to get calls from investors requesting to purchase my house.The only ones with knowledge of this phone number are my XXXX brothers and Select Portfolio Servicing. When I brought this to SPS attention I was told that my case was closed because of failure to set up an inside XXXX.No one from SPS ever requested any XXXX from me.SPS told me I should be, home on XX/XX/2018 for this XXXX. On XX/XX/2018 no one came to do a BPO so I called the XXXX company who sent me an email saying that XXXX has cancelled the XXXX. I called SPS who confirmed that the XXXX was cancelled without informing me.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-24
Auburn, NJ
Took or threatened to take negative or legal action
Debt collection: I do not know
Seized or attempted to seize your property
Complaint: As the fiduciary of the estate of XXXX XXXX XXXX, I have the right to the information I am seeking and the information I have sought numerous times in the past. SPS continues to fail to cooperate with legitimate inquires to validate their alleged false claims.
1- Failure to adequately and sufficiently respond to Notice of Error or Information Request or Qualified Written Request dated XX/XX/2018 and XX/XX/2018. ( See attached requests ) 2- On XX/XX/2018 a property evaluation was ordered and completed by SPS in the amount of {$120.00}. I demand a copy of this report and all related documents.
3- Failure to adhere to Laws of New York State SCP Surrogate 's Court Procedures : " Every claim against the estate of a decedent other than claims for expenses of administration and claims of the United States or the state of New York must be in writing, contain statement of the facts upon which it is based and the amount thereof. In addition the fiduciary may require the claimant to present proof by affidavit that the amount of the claim is justly due, that all payments thereon, if any, have been credited, that the claimant knows of no offsets and no evidence of indebtedness and holds no security, except as specifically described in the affidavit. '' As the fiduciary of XXXX XXXX XXXX 's estate, I am requiring the claimant to present proof by affidavit. In addition, please identify the security in such claim.
4- As a reminder, as fiduciary and based on reason to question the validity of any claim, I reserve the right to present a petition to the court showing the facts and praying that the claimant or possible claimant be required to show cause why his claim, if any, should not be disallowed.
To date, the estate of XXXX XXXX XXXX has yet to receive a valid claim from SPS or it's associates.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-24
Lb, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: SPS is in violation of CA Homeowner Bill of Rights and RESPA guidelines.
At issue is a short sale request that SPS confirmed receipt on XX/XX/18. CA Homeowner Bill of Rights and RESPA both require lenders and servicers to help homeowners avoid foreclosure. SPS is refusing to open short sale request due a foreclosure sale date that is scheduled on XX/XX/18 which is over a month away from when the short sale request was received by SPS. This is unacceptable and an invalid denial reason.
By denying the right for homeowner to do a short sale SPS is in fact denying the legal requirements of CA HBOR to help homeowners avoid foreclosure. The argument that there is not enough time to review for a short sale is a false argument. SPS can order their values and have that values in house within 5 days. At that time if the offer is within the range of their values then they know they have a fair offer. If not they are required to counter the buyer and give that buyer the opportunity to increase their offer to meet requested amount.
Not adhering to the law will lead to statutory damages allowed for in CA HBOR & RESPA not limited to {$50000.00} plus attorney fees.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-24
Philatelic Center, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: SPS is in violation of CFBP rules, CA HBOR and RESPA guidelines.
At issue is a short sale request that was submitted on XX/XX/18 and SPS refused to open the short sale request stating they need a package 60 days prior to a sale date. This is in direct violation of RESPA CFR Part 1024 ( Regulation X ) which clearly state lenders must review for any loss mitigation offers if the file is received within 37 days, excerpt below ; ( c ) Evaluation of loss mitigation applications - ( 1 ) Complete loss mitigation application. Except as provided in paragraph ( c ) ( 4 ) ( ii ) of this section, if a servicer receives a complete loss mitigation application more than 37 days before a foreclosure sale, then, within 30 days of receiving the complete loss mitigation application, a servicer shall : ( i ) Evaluate the borrower for all loss mitigation options available to the borrower ; CA HBOR requires lenders and servers to help homeowners avoid foreclosure. By illegally demanding docs 60 days prior to a sale date when CA residents don't get 60 days notice of a sale date and it's a violation of RESPA guidelines then SPS is breaking CA HBOR laws.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-24
Plymouth, FL
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: Select Portfolio Servicing, Inc. ( SPS ) XX/XX/2017 = Due to financial setbacks, notified Select Portfolio Servicing , Inc. ( SPS ) we would be unable to cover payments by XX/XX/XXXX/XX/XX/2017 and initiated a Request for Mortgage Assistance with them. SPS recommended and *approved* us for a short sale based on our situation. Furthermore, SPS agreed *not* to report us to credit agencies as past due as long as we were in an active short sale process, which we were.
XX/XX/2017 = SPS reported 30 days overdue to XXXX, XXXX, and XXXX XXXX ( we were still in the short sale process ) XX/XX/2017 = SPS reported 60 days overdue to XXXX, XXXX, and XXXX XXXX ( we were still in the short sale process ) XX/XX/2017 = SPS reported 90 days overdue to XXXX, XXXX, and XXXX XXXX ( we were still in the short sale process ) XX/XX/2017 = Short sale completed, SPS reported 120 days or no data to XXXX, XXXX, and XXXX XXXX ( we closed the short sale process and sold the property ) XX/XX/2017 = Account formally closed As a result of SPS reneging on their written agreement with us not to report us while we were in the process of a short sale, our credit ratings have taken a hit. We were assured by SPS this would not happen.
They were negligent, did not return phone calls, or emails. They made us fill out the same stack of paperwork repeatedly. We ended up with a different person every time and had to start over each time with the new people assigned to us.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-23
Margate, 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
2018-10-23
Vista Alegre, PR
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Re : To Whoever May Be Interested In Select Portfolio Illegal Activities ...
Hello, My mortgage account # XXXX is reflecting illegal activity under abusive practices and unfair treatment. For the first time since XX/XX/XXXX, XXXX XXXX XXXX has added my previous mortgage co-borrower after successfully having settled my home modification with one signature, my only signature, " XXXX XXXX '' back in XX/XX/XXXX as agreed by the previous HAMP modification I was currently entitled to as a participant from previous program.
On XX/XX/XXXX I sent an email detailing who is the owner of the account XXXX at Select Portfolio Servicing Inc, which is only me, " XXXX XXXX XXXX XXXX '' with loan agreement, legal documentation that supports and provides evidence that I am the ONLY owner in account # XXXX with new investor with Select Portfolio Servicing. Previous agreements with " XXXX XXXX XXXX XXXX '' ( Now " XXXX XXXX '' as bank got acquired ) conducted in XX/XX/XXXX provides clear evidence that I was the ONLY owner paying the mortgage, which Select Portfolio REFUSES to change and now, since XX/XX/XXXX, all of a sudden has " XXXX XXXX '' appearing as co-borrower of account XXXX after successfully signing documentation in XX/XX/XXXX with " XXXX XXXX XXXX XXXX '' that releases her from any debt or responsibility from my current loan with XXXX XXXX XXXX.
Legal documents were sent in XX/XX/XXXX, Select Portfolio Servicing confirms they received documents in XX/XX/XXXX via email successfully and it'll be close to 60 natural days without receiving any kind of " co-borrower '' change from my Select Portfolio Servicing Inc account and my credit is showing I have a " joint '' account which is false. Select Portfolio Servicing Inc., continues their abuse once again under my account and before seeking legal damages I'd like for Select Portfolio Servicing Inc., to promptly response before taking this manner to Federal court for abuse practices, illegal activities/fraud and civil damages.
I look forward to ConsumerFinance.org assistance. I submitted a case back in XX/XX/XXXXand Select Portfolio Servicing responded within 2 business days with a prepared home modification approval after having numerous supportive evidence of illegal practices from Select Portfolio Servicing by mail stating the obvious abuse of banking abusive practices. My mortgage got approved with the HAMP program back in XX/XX/XXXX and I did fall behind for 5 months. Now Select Portfolio Servicing is following up again with their illegal practices. I will win again with your assistance ConsumerFinance.org, I've all supportive evidence required to make this happen.
Added notes : XXXX XXXX NEVER signed an agreement with Select Portfolio Servicing Inc. She is illegally sharing " co-borrower '' ownership of my mortgage when Select Portfolio Servicing Inc and current investor of my mortgage never agreed to any deal of home loan modification with either " HAMP '' or Select Portfolio Servicing Inc. All required proofs has been submitted to Select Portfolio Servicing Inc. , for immediate action and nothing has been achieved since XX/XX/XXXX when SPS account representatives confirm multiple times having received proof of documentation.
Looking forward to your assistance.
Sincerely, XXXX XXXX XXXX : XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-23
Norwalk, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Dear Madam or Sir : I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days. Please treat this letter as a " qualified written request '' under the Real Estate Settlement Procedures Act, 12 U.S.C. Section 2605 ( e ).
I am writing to you to complain about the accounting and servicing of my mortgage and my need for understanding and clarification of various charges, credits, debits, transactions, reversals, actions, payments, analyses and records related to the servicing of my loan from its origination to the present date. To date, the documents and information I have, that you have sent me, and the conversations with your service representatives can not answer my many questions.
It is my understanding that your company has been accused as engaging in one or more predatory lending and servicing schemes. As a citizen, I am extremely concerned about such practices by anyone, let alone my own mortgage company or anyone who has held a beneficial interest in my QUALIFIED WRITTEN REQUEST COMPLAINT DISPUTE OF DEBT/ VALIDATION OF DEBT TILA REQUEST Page 2 of 8 loan. I am concerned that such abuses are targeting the uneducated and uninformed consumer and disadvantaged, poor, elderly and minorities.
Needless to say, I am more concerned as an alleged borrower. I am worried that potential fraudulent and deceptive practices by unscrupulous mortgage brokers ; sales and transfers of mortgage servicing rights ; deceptive and fraudulent servicing practices to enhance balance sheets ; deceptive, abusive and fraudulent accounting tricks and practices may have negatively affected my credit rating, mortgage account and/or the debt or payments to which I am legally obligated.
Because of this and other reasons that leave me to believe that I may be a victim of predatory lending, I am disputing the validity of the current debt you claim I owe. By debt I am referring to : 1. The principal balance claimed owed ; 2. My calculated monthly payment, 3. Calculated escrow payment 4. And any fees claimed to be owed by you or any trust or entity you may represent.
I have reason to believe that the loan terms were misrepresented to me at the time of application and further obscured and/or modified prior to signing. I believe that my income may have been inflated on the application. I also have reason to believe that certain statements were not provided for my approval prior to closing, and that signatures may have been forged on various documents. It is also my belief that certain documents may have not been presented at all. Additionally, I believe that a notary was not physically present to witness my signatures on several pertinent documents and that I was ill advised at the time of closing.
To independently validate my debt, I need to conduct a complete exam, audit, review and accounting of my mortgage loan from its inception through the present date. Upon receipt of this letter, please refrain from reporting ANY negative credit information [ if any ] to any credit-reporting agency until you respond to each of my requests.
QUALIFIED WRITTEN REQUEST COMPLAINT DISPUTE OF DEBT/ VALIDATION OF DEBT TILA REQUEST Page 3 of 8 I also request that you kindly conduct your own investigation and audit of my account since its inception to validate the debt you currently claim I owe. I would like you to validate this debt so that it is accurate to the penny!
Please do not rely on previous or current servicers or originators records, assurances or indemnity agreements and refuse to conduct a full audit and investigation of my account.
I understand that potential abuses by you or a previous servicer could have deceptively, wrongfully, unlawfully and/or illegally : 1. Increased the amounts of my monthly payments 2. Increased the principal balance I owe ; 3. Increased my escrow payments ; 4. Increased the amounts applied and attributed toward interest on my account ; 5. Decreased the proper amounts applied and attributed toward principal on my account ; and/or 6. Assessed, charged and/or collected fees, expenses and misc. charges I am not legally obligated to pay under my mortgage, note and/or deed of trust. 7.
I am thinking about contracting the Home Owners Foreclosure Hotline and/or one of their affiliates to perform a forensic document review of your investigation and audit of my account. To help me decide if I am going to move forward with a third party auditing company, I need : ( 1 ) copies of all documents pertaining to the origination of the alleged mortgage and note including my loan application ( s ), Right to cancel, deed of trust, note, adjustable rate note, addendum to the note for the interest only payment period, truth in lending statements, good faith estimate ( GFE ), HUD 1, appraisal, and all required disclosures and rate sheets QUALIFIED WRITTEN REQUEST COMPLAINT DISPUTE OF DEBT/ VALIDATION OF DEBT TILA REQUEST Page 4 of 8 associated with this transaction for the above referenced loan. The copies should be legible and all documents shall be copied in their entirety.
( 2 ) A copy of the loan history including all payments made, all fees incurred, what has been paid out of the escrow account, and how all payments were applied. This information should cover the ENTIRE life of the loan.
I want to insure that I have not been the victim of such predatory practices.
To insure this, I will be authorizing a thorough review, examination, accounting and audit of my mortgage LOAN # XXXX by a team of mortgage auditors predatory lending experts, consumer advocates, local non-profit agencies, compliance consultants and if needed LEGAL ADVOCATES. This exam and audit will review my mortgage loan file from the date of my initial contact, application and the origination of my loan to the present date written above.
As such, please treat this letter as a Qualified Written Request under the Real Estate Settlement Procedures Act, codified as Title 12 2605 ( e ) ( 1 ) ( B ) ( e ) and Reg. X 3500.21 ( f ) 2 of the United States Code as well as a request under Truth In Lending Act [ TILA ] 15 U.S.C. 1601, et seq. RESPA provides substantial penalties and fines for non-compliance or failure to answer my questions provided in this letter within sixty ( 60 ) days of its receipt!
In order to conduct the examination and audit of my loan, I need to have full and immediate disclosure including copies of all pertinent information regarding my loan. The documents requested and answers to my questions are needed by myself and my experts to insure that my loan : 1. Was originated in lawful compliance with all federal and state laws and regulations including, but not limited to RESPA, TILA, Fair Debt Collection Act, HOEPA and other laws ; 2. That any sale or transfer of my loan was conducted in accordance with proper laws and was a true sale of my note ; QUALIFIED WRITTEN REQUEST COMPLAINT DISPUTE OF DEBT/ VALIDATION OF DEBT TILA REQUEST Page 5 of 8 3. That the claimed holder in due course of my promissory note and/or deed of trust is holding such note in compliance with State and Federal laws and is entitled to the benefits of my payments ; 4. That all appropriate disclosures of terms, costs, commissions, rebates, kickbacks, fees etc. were properly disclosed to me at the inception of my loan ; 5. That each servicer and/or sub-servicer of my mortgage has serviced my mortgage in accordance with the terms of my mortgage, promissory note and/or deed of trust ; 6. That each servicer and sub-servicer of my mortgage has serviced my mortgage in compliance with local, state and federal statutes, laws and regulations ; 7. That my mortgage loan has properly been credited, debited, adjusted, amortized and charged correctly ; 8. That interest and principal have been properly calculated and applied to my loan ; 9. That my principal balance has been properly calculated, amortized and accounted for ; 10. That no charges, fees or expenses, not obligated by me in any agreement, have been charged, assessed or collected from my account ; As such, please send to me, at my address above, copies of the documents requested below as soon as possible. Please provide me copies of : 1. All data, information, notations, text, figures and information contained in your mortgage servicing and accounting computer systems including, but not limited to XXXX or XXXX XXXX XXXX, or any other similar mortgage servicing software used by you, any servicers, or subservicer of my mortgage account from the inception of my loan to the date written above. 2. All descriptions and legends of all Codes used in your mortgage servicing and accounting system so that the examiners, auditors and experts retained to audit and review my mortgage account may properly conduct their work. 3. All assignments, transfers, allonges, or other document evidencing a transfer, sale or assignment of my mortgage, deed of trust, promissory note or other document that secures QUALIFIED WRITTEN REQUEST COMPLAINT DISPUTE OF DEBT/ VALIDATION OF DEBT TILA REQUEST Page 6 of 8 payment by me to my obligation in this account from the inception of my loan to the present date including any such assignments on MERS. 4. All records, electronic or otherwise, of assignments of my mortgage, promissory note or servicing rights to my mortgage including any such assignments on XXXX. 5. All deeds in lieu, modifications to my mortgage, promissory note or deed of trust from the inception of my loan to the present date. 6. The front and back of each and every canceled check, money order, draft, debit or credit notice issued to any servicer of my account for payment of any monthly payment, other payment, escrow charge, fee or expense on my account. 7. All escrow analyses conducted on my account from the inception of my loan until the date of this letter. 8. The front and back of each and every canceled check, draft or debit notice issued for payment of closing costs, fees and expenses listed on my disclosure statement including, but not limited to, appraisal fees, inspection fees, title searches, title insurance fees, credit life insurance premiums, hazard insurance premiums, commissions, attorney fees, points, etc. 9. Front and back copies of all payment receipts, checks, money orders, drafts, automatic debits and written evidence of payments made by others or me on my account. 10. All letters, statements and documents sent to me by your company. 11. All letters, statements and documents sent to me by agents, attorneys or representatives of your company. 12. All letters, statements and documents sent to me by previous servicers, sub-servicers or others in your loan file or in your control or possession or in the control or possession of any affiliate, parent company, agent, sub-servicer, servicer, attorney or other representative of your company. 13. All letters, statements and documents contained in my loan file or imaged by you, any servicer or sub-servicers of my mortgage from the inception of my loan to present date. 14. All electronic transfers, assignments, sales of my note, mortgage, deed of trust or other security instrument.
QUALIFIED WRITTEN REQUEST COMPLAINT DISPUTE OF DEBT/ VALIDATION OF DEBT TILA REQUEST Page 7 of 8 15. All copies of property inspection reports, appraisals, BPOs and reports done on my property. 16. All invoices for each charge such as inspection fees, BPOs, appraisal fees, attorney fees, insurance, taxes, assessments or any expense, which has been charged to my mortgage account from the inception of my loan to the present date. 17. All checks used to pay invoices for each charged such as inspection fees, BPOs, appraisal fees, attorney fees, insurance, taxes, assessments or any expense which has been charged to my mortgage account from the inception of my loan to the present date. 18. All agreements, contracts and understandings with vendors that have been paid for any charge on my account from the inception of my loan to the present date. 19. All loan servicing records, payment payoffs, payoff calculations, ARM audits, interest rate adjustments, payment records, transaction histories, loan histories, accounting records, ledgers, and documents that relate to the accounting of my loan from the inception of my loan until present date. 20. All loan servicing transaction records, ledgers, registers and similar items detailing how my loan has been serviced from the from the inception of my loan until present date.
Please provide me, with the documents I have requested and a detailed answer to each of my questions within the required lawful time frame. Upon receipt of the documents and answers, an exam and audit will be conducted that may lead to a further document request and answers to questions under an additional QWR letter.
Copies of this Qualified Written Request, Validation of Debt, TILA and request for accounting and legal records, Dispute of Debt letter will be sent to FTC, HUD, ALL RELEVANT STATE AND FEDERAL REGULATORS ; CONSUMER ADVOCATES ; AND MY CONGRESSMAN if any further evasive actions are detected or this matter is not settled.
It is my hope that you can answer my questions, document and validate my debt to the penny and correct any abuses or schemes uncovered and documented. I would like to have validation that the QUALIFIED WRITTEN REQUEST COMPLAINT DISPUTE OF DEBT/ VALIDATION OF DEBT TILA REQUEST Page 8 of 8 foreclosure process has been put on hold or will be extended until all of my request have been satisfied. Please provide for me an answer at the same time that you acknowledge my request within 20 business days.
Sincerely, Address XXXX XXXX XXXX XXXX XXXX Ca, XXXX # Account XXXX XXXX XXXX ... ..date XXXX-XXXX-2018 ... ... ... ... ... ... ... ... ... ... Signed by Home owner XXXX XXXX XXXX* CC XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Florida XXXX Federal Trade Commission XXXX XXXX XXXX XXXX XXXX Washington, DC. XXXX Government & Industry Relations XXXX XXXX XXXX, XXXX XXXX XXXX XXXX Washington, DC XXXX Office of RESPA and XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX Department of Housing and Urban Development XXXX XXXX XXXX, XXXX Washington, DC XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-23
NY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: 1. My escrow analysis for the property taxes is going up {$410.00} 2. My taxes paid to Town of XXXX for XX/XX/2018 Property tax were {$9600.00}. That is not true the taxes paid to the town of XXXX are wrong as the town of XXXX received {$9500.00} that is a difference of XXXX. see attached tax receipt from Town of XXXX XXXX
3. I am in dispute of your escrow analysis statement that show a shortage and an increase in the monthly payments.
4. I respectfully demand you do a verified analysis as the property taxes are lower going forward.
5. I would also like to know going backward how may other times you overpaid or over charged the property taxes on this account.
Also every month extra money is paid to the account and I believe it is no credited properly
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-23
Mabank, TX
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: We submitted every requested documents to Select Portfolio Servicing but it seems that they are asking for documents on a piecemeal manner thus prolonging the short sale process. It appears that they are not seeing the urgency on our case as they will just say that they need another 30 days or for every document that they ask and receive from us. We have a very good offer on hand and there's a tendency that the buyer might walk away because of the prolonged process.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-10-23
Oakland, 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
2018-10-23
MA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: My lender at the present time is SPS and my loan was serviced transferred to them in XX/XX/XXXX and before that was XXXX. Either lender has REFUSED TO OFFER ME ANY MORTGAGE ASSISTANCE AT ALL. My interest rate is 8.5 % that is so high for these days and asking for help over and over again but to give me a outrageous repayment plan I can not afford. Below is what they gave to me and this will not even take me out of foreclosure. I want something more affordable and at the going rate today of 4.25 % to 4.75 % and this home would be affordable for me to keep.
SALE DATE XX/XX/XXXX APPROVED FOR REPAYMENT ONLY OFFER AND LAST OFFER NEW PAYMENT WILL START XX/XX/XXXX FOR 12 MONTH RE PAYMENT PLAN NEW PAYMENT WILL BE {$7200.00} THERE IS NO GRACE PERIOD AT ALL HE IS P/D 110 MONTHS TOTALING OVER XXXX THIS WILL NOT BRING HIM CURRENT AFTER THE 12 MONTHS HE WILL HAVE TO RE APPLY AGAIN SALE DATE HAS BEEN SET FOR XX/XX/XXXX NOW IF THIS OFFER IS NOT TAKEN THEY WILL NOT OFFER ANY OTHER OPTIONS FOR HER AT ALL Even with my first lender was XXXX they did not offer me nothing. I have been trying and struggling to keep my home and get back on track with my lender SPS but they have made it so difficult for me to even get on track with such a large payment and nothing is a guarantee either they wont take my home after i would agree to anything.
So it all comes down to one thing, not XXXX TO SPS have given me one modification at all since i have obtained the loan in XX/XX/XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation