SELECT PORTFOLIO SERVICING, INC

2018-08-23

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

2018-08-23

Southworth, WA

Written notification about debt

Debt collection: Other debt

Didn't receive enough information to verify debt
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-08-23

City Ranch, 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

2018-08-23

NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Select Portfolio Services has failed to allow me to be reviewed for all potential retention options on my mortgage loan. They received millions of dollars of tax payer money, but have kept me at bay for assistance for over four years. I have been through some very difficult times personally and professionally, but am back on my feet and can make a reasonable mortgage payment, if given the opportunity. I am finding it impossible to engage SPS in a constructive conversation to bring my mortgage loan current. SPS seems to want to help since I continually receive letters from them stating they are interested in helping me with my loan and their representatives seem to be trying to get me into a modification. However, their entire process falls apart and my application process never gets beyond the application stage. I am not sure if their representatives can not get the job done or if their process lacks the structural integrity to get me through to modifying my loan, but I am at the point where I would like your office 's assistance to ensure my requests for help gets through the review process of SPS. I have an assigned single point of contact, but they have blocked every effort I have made to save my home. I have never had a full review of my loan for mortgage assistance options. Life was going very well until I the company I was working for closed its ' doors in XXXX and I had a hard time finding employment. I paid on my mortgage as best I could, but couldn't keep up. I reached out to get SPS to work with me on a modification, but the process went nowhere and they advised me to stop making payments to get assistance. This was bad advice and now I have a foreclosure date on XX/XX/XXXX. I have landed on my feet and am making significantly more income. I also have my husband 's income and our combined income fits into guidelines to qualify for assistance. I want to save my home and I want a review based on my current income. The representative I speak with didn't give me any opportunities or chances to resolve this issue and instead make excuses for why I am not getting a review. I am running out of time and am afraid that the big banks are still rolling through homeowners and putting them on the streets instead of doing the work to help them.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-08-23

Queens, NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I HAVE APPLIED FOR HARDSHIP ASSISTANCE WITH MY SERVICER SPS " SELECT PORTFOLIO SERVICING '' AND WAS RECENTLY DENIED DUE TO IT IS NOT IN THE FINANCIAL INTEREST OF THE INVESTOR OF MY LOAN. I WANT TO BREAKDOWN THE SEVERITY OF THAT STATEMENT. THE REASON MY HUSBAND AND I ARE DELINQUENT IS DUE TO MY BROTHER-IN-LAW WHICH IS THE THIRD CO-BORROWER OF THE LOAN PASSED AWAY WHICH MEANS OUR INCOME FOR THE HOUSEHOLD DECREASED KEEPING US UNABLE TO MAKE THE MORTGAGE PAYMENT AT THE TIME. IN ADDITION, THE INVESTORS FINANCIAL INTEREST IS TO NOT MODIFICATION MY LOAN BECAUSE THEY WANT TO TAKE THE EQUITY OF OUR HOME. MY HUSBAND IS A XXXX XXXX XXXX XXXX MAN AND SPS AND MY INVESTOR THINKS I AM GOING TO JUST LAY DOWN AND LET THEM STEAL MY HOME BECAUSE THAT IS EXACTLY THEIR INTENTIONS. THEY STATED THAT THEIR INTEREST IS NOT HELPING US BECAUSE WE HAVE EQUITY AND THEY WILL RECEIVE A FINANCIAL GAIN BY JUST SAYING NO TO US TO TAKE OUR EQUITY. IT HAS NOTHING TO DO WITH OUR INCOME, OUR FINANCIAL HARDSHIP, DEATH IN THE FAMILY AND THEIR CO-BORROWER JUST MY EQUITY. I AM FILING A COMPLAIN WITH THE FTC, MY STATE ATTORNEY GENERAL XXXX XXXX INFORMING THEM THAT YOU ARE PREYING ON XXXX SENIOR CITIZENS FOR FINANCIAL GAIN. THIS IS COMPLETELY OUTRAGEOUS!! IF YOU THINK YOU ARE GOING TO COLLECT MY PROPERTY FOR YOUR FINANCIAL GAIN YOU HAVE ANOTHER THING COMING, I WILL SUE EVERYONE OF YOU FOR EVERY FRAUDULENT VERBIAGE AND LAW BROKEN.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-08-23

TX

Closing on a mortgage

Mortgage: Other type of mortgage

Complaint: This is about a property foreclosure that was bought back by the mortgage bank at the foreclosure sale in XXXX, XXXX, and which bank turned and listed it for sale on the XXXX ( XX/XX/XXXX ), not realizing the legal property description was flawed, so they were trying to sell property they did not legally, nor rightfully own. I bid on the property and my offer was accepted by the seller in XXXX, XXXX. From the beginning, I questioned the accurateness of the provided property description, and the bank ( seller ) only replied the description provided was " all they had '' in their file. I had to get a survey to find out the provided description was indeed flawed, did not represent the property the bank was trying to sell, therefore clouding the veracity of the title. When the bank was notified of this issue, they immediately cancelled the sale of the property. Their parting words were ( a ) demanding I release MY purchase agreement contract with them ; ( b ) their refusal to reimburse me for all the ( buyer ) expenses I had paid up to that point ( {$2800.00}, not counting my earnest money ) ; ( c ) refusing to give me " first right of refusal '' when they fixed their title issues and relisted the property for sale ; and generally, just disappeared ... meaning, NO ONE representing, acting as agent, representative or trustee for the bank would talk to me, my real estate agent or my attorney from that point on. They either were un-contactable or refused contact. I then set out to research the issue through court, property and tax records, internet searches, background searches and talking to neighbors to the property in question. What I found out is that : - Mr. XXXX XXXX purchased 3 lots, or 1.45 acres of property in XXXX. ( # 's 1, 2 & 4 on attached property map ) - In XXXX, XXXX XXXX XXXX sold to his son, Mr. XXXX XXXX approximately .61 acres of the 1.465 acres - according to the newly surveyed property description attached to the mortgage and warranty deed, which would represent 1 lot, ( # 4 ). - The new survey accomplished for the XXXX sale, was heavily flawed and barely depicts the description of Lot # 4, the .61 acre lot, and shows no resemblance to Lots # 1 & 2. - It seems the mortgage company was under the impression they were providing a mortgage loan that covered ALL 3 lots, the total 1.465 acres, but never verified the correctness of the provided survey. The flawed and uncorrected property description followed the property history through XX/XX/XXXX, when I discovered the inaccuracies. - When the bank foreclosed on Mr. XXXX XXXX 's mortgage in XXXX, they only legally foreclosed on the .61 lot ( # 4 ). In the tax rolls, it reflects that # 4 is owned by the bank and Lots # 1 & 2 are still in the name of the original owner, Mr. XXXX XXXX. - When the bank listed the property for sale, they listed .855 acres or Lots # 1 & 2, which they had no legal ownership over. - Therefore, for all intents and purposes, per the legal description on the seller 's Deed, they falsely listed property they do not own and tried to sell said property to me. I, my real estate agent and my attorney have tried repeatedly to contact the bank ( seller ) or any of its representatives, and no one will speak to us. My attorney offered an informal arbitration opportunity for everyone to get together and work things out so that I could purchase the property legally, but no reply from the seller. The purchase contract the seller provided that I had to sign is totally biased, protecting only the bank and excludes me the ability to go after them legally for any reason. Even though the contract requires I pay most of the purchase expenses, it protects the seller from having to reimburse those expenditures even at the fault of the bank being unable to close on the sale. Their ineptness and incompetence has cost me over {$5000.00} in purchase expenses and legal fees, 9 months of wasted time and energy accomplishing nothing, and the loss of my future home ( which was going to be a XXXX rehab project ). When I thought I was moving and notified my landlord, they allowed me to break my rent-controlled protected lease. But when I was forced to back-peddle and remain in my lease home, the landlord refused to allow me to sign another lease and raised my rent {$350.00} a month! So I have that additional monetary burden to shoulder since XX/XX/XXXX because of this sham real estate deal.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-08-22

Grover Hill, OH

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: S.P.S. disregards mortgage contract and continues to try to collect funds which are not du. They also are trying to skirt bankruptcy laws by falsely saying mortgage payment was missed. I have a record of bank checks showing every month is paid it is current. They attempt to change the mortgage agreement which states the payment is not late until after the XXXX. Every month is paid yet i recieve statements with the comment it is XXXX. XXXX unpaid. I paiy XXXX every single month. The extra XXXX to go to principal. It is not unpaid. There is no missed payments. This company continues to falsify records to collect extra interest. They purchased the mortgage from XXXX XXXX XXXX and try to change the terms, disregard bankruptcy laws, and falsify records. These images are from same statement multiple dates, one point says behind other says it's not.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-08-21

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

Timely Response

2018-08-21

Stafford, 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

Timely Response

2018-08-21

Montclair, NJ

Trouble during payment process

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

Timely Response

2018-08-21

Montclair, NJ

Trouble during payment process

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

Timely Response

2018-08-21

Ernul, NC

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

2018-08-19

South Florida, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: On XX/XX/2018, Federal Judge for the XXXX District of South Florida XXXX XXXX. XXXX reopened the Bankruptcy case no. XXXX. The order was furnished to Select Portfolio via email to XXXX on the same day. We also spoke with servicer 's representative to confirmed receipt of Judge order and to discuss the sale date for XX/XX/2018. Because the Bankruptcy case was reopened the foreclosure action including the sale date must be canceled and the action must be placed on " inactive status ''. Select portfolio stated that they were aware of the case reopened because they have a system called PACER. Although the servicer had knowledge to the bankruptcy stay order they failed to cancelled sale date for XX/XX/2018 and place the foreclosure case in inactive status. The servicer 's action is a violation of Bankruptcy code 11U.S. Code 362 -Automatic Stay. The servicer has disregard for Federal Rules and also has engaged in Unfair business Practices. Cuurently we are being reviewed for a loan modification. The servicer continues to request documents over and over again just to get closer to the sale date. SPS continues to be deceiving in connection with the loan modification review. When we satisfy all loan documents requirements, SPS would communicate that no other information is needed and that underwriting will have a determination within 30 days. Instead of making decision, SPS will request document all over again and start at new. SPS has been playing this game for a while. There only objected has been to get closer to the sale date. At this juncture we request for sanctions. SPS has violated Bankruptcy code 11 U.S. Code 362 and continues to deceived us in connection with the loan modification request and process. Sanctions are appropriate.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-08-18

Malibu, CA

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

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

Timely Response

2018-08-17

N Attleboro, MA

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

2018-08-17

Nanticoke, PA

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

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

Timely Response

2018-08-17

N Hollywood, 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

2018-08-17

Ladera Ranch, 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

2018-08-16

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

2018-08-16

Wallington, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have a home loan with Select Portfolio Servicing that is currently in arrears, and am in danger of losing my home due to their questionable servicing and business-related practices. I have been trying desperately nearly 2 years now to get Select Portfolio Servicing to work with me on a reasonable payment plan, restructure, loan modification or forbearance but I have had no luck cutting through the red tape. My pleas for help have been completely ignored. I have not been designated a single point of contact, which makes matters even more frustrating. Select Portfolio Servicing received XXXX XXXX dollars in incentive payments for loan modifications from the Department of Treasury as part of programs such as Making Homes Affordable. Research indicates that as of XX/XX/XXXX, only XXXX XXXX dollars of the received funds had been disbursed, thus giving SPS the means to continue to help homeowners like me on the governments dime. Wheres my bailout? I do not want to lose my home, and desperately need your offices help! In XX/XX/XXXX, my mother and father acquired the subject property signing a purchase money. In XX/XX/XXXX, I inherited my parents home by way of my mom deeding the property to me. Later the same year I refinanced my home signing a mortgage originated with XXXX XXXX. XXXX XXXX agents offered me one of the most predatory loans known to mankind, a Neg-Am Loanalso known as a Negative Amortization Loan. As a result of trusting the word of the licensed professional representing XXXX XXXX, my principle balance has doubled. In XX/XX/XXXX, I received assistance via a loan modification. Nevertheless, I tendered my mortgage payments on time, as agreed, for 5 years. My loan has since been transferred, most recently to Select Portfolio Services. Next, in XX/XX/XXXX, my mother became ill and my sister, XXXX, moved in to assist with caring for our mom and contribute to the household finances. In XX/XX/XXXX, our mother scummed to her health issues. My sister and I incurred a substantial amount of out-of-pocket hospital, medical treatment, funeral and burial expenses as a result. Due to the aforementioned events, we began to struggle to tender our mortgage payments on time. We did the best we could to keep up with our mortgage payments, going so far as to deplete our savings and reserves, but we eventually defaulted on the home loan and were moved to foreclosure status. In XX/XX/XXXX, I contacted XXXX XXXX agents advising of my struggles to tender my mortgage payments. XXXX XXXX XXXX agents offered me an opportunity to apply for a loan modification. I completed and returned approximately 6-7 loan modification applications along with all the requested documents. After receiving what seemed like the paper chase and run-around, no decisions have been rendered. In XX/XX/XXXX, my loan was transferred to Select Portfolio Services. I have attempted to work things out with Select Portfolio Services agents applying 2 additional times, but all of my efforts have yielded negative results. SPSs agents have been extremely unwilling to work with me. I have not been designated a single point of contact. No other home retention options have been offered and no review of my current financial circumstances has been opened or discussed. This is an avoidable foreclosure, and this madness must stop. Why cant SPS open a full and fair review of my current circumstances in accordance with government guidelines? I am sure that there are programs such as a reasonable payment plan, restructure, or loan modification, that homeowners like me have the right to be reviewed for. Instead, SPSs agents are pushing to foreclose on my home, and have not worked with me fairly.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-08-16

Oxford, GA

Incorrect information on your report

Mortgage: Conventional home mortgage

Complaint: My mortgage payments are not being reported to any credit bureaus. When I called the lender, they say the payments were not being recorded because the home was never " reaffirmed ''. This is seriously impacting my credit score. I have been through three bankruptcies and have finally bounced back from the XX/XX/2008 financial crisis. However, my home is still severely underwater and not having my on-time mortgage payments recorded for three years is making rebuilding my credit more difficult. I have tried rebuilding with credit cards ; however, that is what got me in trouble in the first place! I just want my mortgage payments reported and I would like for them to be reported retroactively.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-08-16

Fort Macarthur, 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

2018-08-16

Liverpool, TX

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage is currently being serviced by Select Portfolio Servicing ( SPS ). In XX/XX/2018 I changed homeowners insurance companies & submitted the info to SPS for processing because I have an escrow account. It later came to my attention that I did not have adequate coverage & was forced to cancel the policy obtained XX/XX/2018 & secure a new policy on XX/XX/2018 with XXXX. I received a letter from SPS dated XX/XX/2018 stating my mortgage payment would change from {$1200.00} per month to {$1400.00} per month beginning XX/XX/2018. I contacted SPS on XX/XX/2018 & the first representative placed me on hold for over 15 minutes because she did not understand how to review my account & had to seek assistance from a supervisor. I then called back & spoke with XXXX. I inquired as to whether SPS had received the refund from XXXX XXXX XXXX because an analysis had been completed on my mortgage. XXXX informed me that there was no record that XXXX had received the refund from XXXX XXXX XXXX. I then inquired as to why an analysis had been completed on my mortgage & I just cancelled the policy with XXXX XXXX XXXX on XX/XX/2018 ( not even 2 weeks had passed ) & was waiting for the refund to be issued. XXXX told me that an analysis is completed at the same time every year. I explained that the only reason why an analysis would be warranted at this time is because I had to switch insurance companies again. My complaint is that SPS business practices are flawed in that they did not allow adequate time for my escrow account to be refunded before conducting another analysis. The difference between my cancelled policy with XXXX XXXX XXXX & my new policy with XXXX is approximately {$300.00} +/-. This difference should not increase my mortgage over {$200.00} per month as stated in SPS most recent analysis on XX/XX/2018.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-08-15

Horn Lake, MS

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

2018-08-15

Cedarville, MA

Took or threatened to take negative or legal action

Debt collection: Mortgage debt

Seized or attempted to seize your property
Complaint: Foreclosure Due to Denial Loan Modification Requests Trustee : : XXXX XXXX, XXXX Trustee for XXXX XXXX XXXX XXXX Loan # : : XXXX Current Securitized Mortgage Servicer : : SPS Select Portfolio - Loan # XXXX Our current mortgage servicer is ( SPS ) Select Portfolio Servicing, as of XX/XX/XXXX as a result of a transfer by our former servicer, XXXX XXXX XXXX. ( Please note : We have had 6 mortgage servicers dating back to XXXX ) on our Non-Agency Securitized Mortgage since originated in XXXX with XXXX XXXX XXXX XXXX Since XXXX, we have been " denied '' participation in all Mortgage Modification Programs on 54 occasions even though our circumstances and financial status deem us eligible. 52 of the denial letters have indicated the reason for denial by all past and present servicers in loan modification denials signed by XXXX XXXX, XXXX XXXX indicating " the loan investor/ Loan owner ( XXXX XXXX Mortgage Pass through Certificate investors and trustees ( XXXX XXXX XXXX ) does not authorize/permit loan modifications '' In our most recent attempt to apply for any/all available loan modifications through SPS have also not been successful and we have been " verbally '' told that it is due to language in the Pooling & Servicing Agreement ( dated XX/XX/XXXX ) restricting modifications, the PSA is a document that was filed with SEC almost 14 years ago and has never been updated. ( Note : : XXXX XXXX Trust last filed documents with the SEC in XXXX ). SPS indicated in XXXX of XXXX that they saw no language in the PSA prohibiting loan modifications on our mortgage, and have repeatedly encouraged us to apply for Mortgage Assistance to save our home of which we complied with completed application submissions on 13 occasions with SPS our current Loan Servicer. We have had 6 Mortgage Servicers to date and have applied for Mortgage Assistance 56 dating back to XXXX at the continuous encouragement by all Mortgage Servicers. Despite our pleadings for assistance, none of our Servicers to date have complied with our request to contact the investor/loan owner on our behalf for an exception or waiver permitting a 1 x loan modification. We have also made over 47 attempts to XXXX XXXX, XXXX directly for assistance with this matter as they are referred to as the Trustee & Master Servicer of our mortgage which we now understand was a faulty securitization scheme in XXXX.They have indicated that they do not have contact information on the actual investors/loan owner, yet XXXX XXXX XXXX XXXX as trustee and " Master Servicer '' per the XX/XX/XXXX Pooling & Servicing Agreement ( attached (. XXXX XXXX, XXXX XXXX, has indicated that they have no jurisdiction as the trustee to assist us with information that would assist us with our Loan Modification requests. Additionally, there have been a number of Falsified Mortgage assignments on our mortgage by XXXX XXXX, XXXX. Additionally as stated above, please provide response to SPSs outreach attempts to the unidentified investors on ourbehalf requesting a waiver permitting SPS to modify our loan. We have requested on multiple upon muiltiple occassions for confirmation with supporting documentation including dates of outreach as well as a detailed outcome containing investor response, and to also include outcome of follow up by SPS to the Trustee and Master Servicer XXXX XXXX, XXXX in response to our requests for a waiver permitting SPS to modify our mortgage.Also as requested on multiple occassions, please provide investor contact information as well as XXXX XXXXXXXX XXXX XXXX & Master Servicer contact information ( including names of individuals at XXXX XXXX ) who responded to SPSs request on our behalf for a waiver to modify our loan, including the dates on which SPS made these requests. Addfitionally please provide us with a copy of the supporting PSA Language that indicagtes that the servicer is not allowed to modify our mortgage including any language referring to a Waterfall Modification Approach that the servicer is at liberty to use to modify our mortgage. I understand that the PSA language form XXXX referrs to XXXX XXXX XXXX as the servicer. I would expect to see a present day PSA that references SPS as the present day servicer. Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MA XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response