SELECT PORTFOLIO SERVICING, INC

2018-10-22

Las Milpas, TX

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

2018-10-22

Plattekill, NY

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

2018-10-22

Fort Lauderdale, 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

2018-10-21

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

2018-10-20

El Sobrante, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I am in receipt of a Mortgage Statement dated XX/XX/XXXX which states that as of XX/XX/XXXX, I owe the amount of {$77000.00} on the loan. I am disputing this claimed amount for the following reasons : 1. The above stated amount does not take into consideration my ongoing dispute sinceXX/XX/XXXX with XXXX XXXX and then XXXX and now SPS regarding non credited payments which I made on my mortgage account and excessive escrow charges made on my accou8nt in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. I have sent 196 pages of bank records to XXXX and now to SPS supporting my claim Still the only response I have had from SPS is to send me a payment history from XX/XX/XXXX onward which does not acknowledge my prior claim for the above mentioned years. These bank errors go back to XX/XX/XXXX when XXXX XXXX made a loan modification on the loan. And now SPS is legally responsible for prior bank errors made on my loan and for mistakes made on prior modifications. And as I have pointed out before I have been disputing these bank errors since XX/XX/XXXX. I have made continual requests for someone from the SPS accounting department to reach out to me to solve this problem. So far no one has contacted me from the accounting. And since they have not addressed or credited my account the accrued interest due to me for excessive escrow charges made to my account or for accrued interest and capitalization charges made to my account, I am hereby disputing the claimed amount of {$77000.00} by SPS. I view this as an unacceptable business practice and illegal because SPS bought the servicing rights to my loan from XXXX and therefore SPS is responsible for past bank errors on the account. The contention of SPS that since I signed a modification agreement in XX/XX/XXXX which brought my account current and therefore that I agreed to the modification terms does not excuse prior bank errors made on my account since XX/XX/XXXX because SPS by acquiring the servicing rights on my loan, acquired the prior liabilities of the prior loan servicer which was XXXX XXXX and then XXXX. In addition to the above issues is the issue of excessive amounts capitalized into my mortgage balance since XX/XX/XXXX which amounts to {$170000.00} since XX/XX/XXXX. I have analyzed this account and have submitted extensive bank records to this effort and have determined that the amount of {$100000.00} is owed to my mortgage account for excessive interest, administrative charges, non-credited payments, excessive escrow and insurance charges plus applicable interest. And the fact that I signed a modification agreement on XX/XX/XXXX does not nullify the fact that errors were made on my mortgage account and does not render my claim as being invalid and the fact that credit is owed to my mortgage account for past bank errors made.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-10-19

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

2018-10-19

Jacksonville, 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

Timely Response

2018-10-19

Norman, OK

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

2018-10-19

Oakland, 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

2018-10-19

TN

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I recently received a letter from my mortgage servicer stating the modification was declined because the investor XXXX XXXX XXXX XXXX XXXX was no longer participating in any of the modification programs. I also spoke with XXXX the Relationship manager XXXX XXXX XXXX he told me the investor didn't participate in the modification programs. Received a re-payment plan for {$2100.00} monthly the mortgage has increased over half of the original mortgage payment. My mother XXXX XXXX is terminally ill and I'm responsible for her care and medical expenses that insurance want cover. I feel we are being discriminated against because my mother is XXXX and we are XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-10-19

PA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have had a very difficult time with SPS. I have tried to submit for a loan modification several times. I was never able to communicate to the same person which always caused confusion. SPS always seemed to lose my paperwork, which I constantly had to re-fax. I also had a very difficult time getting any assistance with any employee at SPS. I lost my job for 6 months but am back to work full time, and can afford my mortgage. I applied for a modification and SPS denied me saying they do not want to help with a modification. I have not had any problems with my mortgage since 2011 ( recession ), and my income can support the mortgage payment.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-10-19

San Jacinto, CA

Closing on a mortgage

Mortgage: Other type of mortgage

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

Timely Response

2018-10-19

Jersey City, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Still in the hands of Bankrupcy protection agency. I also paid a company to fix this issue but nothing happened. Its a lawyers company located in California. I paid like {$4000.00}. Also, since my house was damaged by the storm this year last XXXX, I hired an inspector- XXXX XXXX XXXX base in Pennsylvania to get me insurance money to have my house repaired. They got me {$4500.00} to fix my house and pad XXXX {$1500.00} for their service commission. Now the check was endorsed to Select Portfolio servicing in Utah- XXXX XXXX XXXX claim # XXXX and held the repair money until now which I said its for repairing my house. They dont want to release my insurance money. I would like you to please help me retain my house by giving me a modification 2 % interest which I was begging them to modify my mortgage. Also please help me get my insurance money to have my house fix. Begging for your intervention. Hoping for your kind assistance. XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NJ XXXX XXXX XXXX XXXX if no answer please leave me a message. Thanks
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-10-19

El Monte, 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

2018-10-19

San Dimas, 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

2018-10-19

Mableton, GA

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

2018-10-19

Chatsworth, 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

2018-10-18

Maywood, 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

2018-10-18

Akron, OH

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

2018-10-18

Damascus, MD

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

2018-10-18

Atlanta Naval Air Station, GA

Trouble during payment process

Mortgage: Other type of mortgage

Complaint: Formal complaint that Select Portfolio Services has violated consumer protection filings : Violation of module 8 OF CFPB Examination procedure - Loss Mitigation ( BREACH OF FAIR DEALING - RESPA VIOLATION ). Refused to submit loss mitigation application to the US Governments making home affordable program. Per CFPB mortgage servicing procedures ; The Real Estate Settlement Procedures Act ( RESPA ) and its implementing regulation, Regulation X, impose requirements for servicing transfers, written consumer information requests, resolution of notices of error, force-placed insurance, early intervention and continuity of contact for delinquent borrowers, loss mitigation procedures, general servicing policies and procedures, and escrow account maintenance. I am currently facing foreclosure because of several mishandlings of my mortgage - one of the primary reasons for this is because my modification application was juggled for 12+ months and never formally submitted for the united states government making home ( MHA ) affordable program. I incessantly requested and applied for an in house modification AND MHA assistance for several months before being denied because of said missing documents that I had continuously provided.I formally requested submission of the Making home affordable program through my servicer, but my servicer held my application and demanded repeated resubmission of duplicate documents which forced me to miss the MHA deadline of XX/XX/XXXX. I followed up directly with the consumer relations manager XXXX XXXX of the MHA/hope program ( XXXX ) and he informed me that several loss mitigation representatives did not submit any application for me prior to the program deadline. He informed me that he would be able to submit a retractive application with the assistance from my servicer. I contacted my servicer requesting they submit my application retroactively to the MHA/Hope department but my servicer ( SPS ) never did and now my family is facing foreclosure because my MHA application was juggled between several different representatives/managers at SPS - to avoid exhausting all loss mitigation procedures which in turn directly violate default servicing/loss mitigation/early intervention procedures. Per module 8 Loss Mitigation, Early Intervention, and Disparate Impact in Loss Mitigation An examination of whether a servicers loss mitigation program results in adverse impact on a protected class will rely on procedures outlined in the CFPBs ECOA Examination Program Manual, including the ECOA Baseline Review Modules, and the Interagency Fair Lending Examination Procedures. Examiners, in consultation with Headquarters, should : 9. Obtain information sufficient to determine whether loss mitigation workouts have been provided to consumers in compliance with ECOA and Regulation B. For example, this may involve an analysis of the distribution of protected class members in the pool of delinquent borrowers versus the distribution of protected class members receiving a range of loss mitigation outcomes, including : reinstatement, repayment plan, forbearance, loan modification, short sale, deed-in-lieu, and foreclosure. 10. Obtain information sufficient to determine whether loan modifications have been provided in compliance with ECOA and Regulation B. For example, this may involve an analysis of processing times and loan modification attributes including interest rate, principal, and monthly payment reductions for protected class members when compared to non-protected class members. CFPB Mortgage Examination Procedures Servicing CFPB XX/XX/2014 Procedures 19 11. Obtain information sufficient to determine whether the rate and timing of foreclosures are in compliance with ECOA and Regulation B. For example, this may include analysis of the representation of protected classes in the group of seriously delinquent borrowers versus their representation among borrowers who lose their homes to foreclosure. To complete a disparate impact analysis of a servicers loss mitigation program, and determine whether a facially neutral policy or practice that has an adverse effect on a protected class meets a legitimate business need that can not reasonably be achieved by a less discriminatory alternative, refer to Section B of the CFPBs Fair Lending Examination Procedures and consult with Headquarters. It has been found that my servicer is in direct violation of these requirements and I am seeking assistance/relief with your assistance.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-10-18

Maywood, 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

2018-10-17

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

2018-10-16

MD

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Dear CFPB, Our mortgage loan is held by a company called Select Portfolio Servicing ( SPS ). We fell behind on our payments this year after I lost my job, and we are ( technically ) in default. We attempted to obtain a loan modification from SPS, but they refused to work with us, not willing to make any compromises on our previous predatory loan terms. Earlier this year, a wind storm damaged our roof beyond repair. We took out a construction loan to replace our roof, and we also filled a claim with our XXXX XXXX homeowners insurance. Of the {$6100.00} XXXX XXXX allocated to replace our roof, our insurance coverage paid {$4300.00} with three separate checks. On XX/XX/XXXX, my wife and I both endorsed these checks and sent them to XXXX ( Hazard Insurance Claim Dept. for SPS ) along with all the other ( extensive ) documentation that SPS request concerning the roof replacement. In the meantime, we paid our roofing company the entire cost of the roof replacement from our roofing construction loan. Now SPS refuses to release the {$4300.00} in insurance remittances we sent to them nearly 3 weeks ago. Every time we call these guys to get our money, they come up with a new ( creative ) excuse why they can't release these funds. We have another claim for interior damage for which we have yet to hire a new contractor, and we are worried how we will pay this new contractor when SPS deliberately delays the return of our insurance reimbursements. How are we supposed to pay our contractors with SPS sitting on our insurance money for such an extended period of time? Sincerely, XXXX & XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-10-15

Norwalk, 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