SELECT PORTFOLIO SERVICING, INC

2018-06-14

Fort Lauderdale, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-14

CT

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have been working with this servicer for the past 5 years, they are very unorganized. I submitted at least 3 full package of RMA, to the point that I am getting really good at it. I know what they ask for, application, proof of income, tax returns and bank statements. This servicer would need verification for each issue at least 2-3 times, also it is always " all we need is ''. Then turn around and requested for more information after I provided what they asked for via fax. There is a foreclosure sale day set, I am accruing their $ 6000+ attorney fees, interest and appraisal fees. Recently, I received a letter of denial, their reason is " did not receive the required documents within the timeline specified '' The application started on the end of XX/XX/XXXX, the last conversation was XX/XX/XXXX. They wanted me to verified on the phone about some issues, then they wanted me break down on a deposit on a from one of the bank statements, I faxed in the next day on XX/XX/XXXX. That was the last time I heard from the servicer. After receiving such denial letter, I called to find out what is " real '' reason for the denial. They told me it was due to the bank statement provided were too old. I would have provided more recent bank statements if they told me on XX/XX/XXXX. Furthermore, the time has lapsed since the application started on XX/XX/XXXX. I have a facsimile report that demonstrate I was submitting document in XX/XX/XXXX and throughout XX/XX/XXXX. I feel it is very unjust and they have no merit for the denial.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-06-14

Houston, TX

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: I filed for bankruptcy in XX/XX/XXXX. It was discharged in XX/XX/XXXX. Select Portfolio is reporting delinquency in XX/XX/XXXX of more than 180 days. I have notified the mortgage company and all three credit reporting agencies and none will correct it.
Company Response: Closed with explanation

Timely Response

2018-06-14

Milwaukee, WI

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-14

Lakewood, WA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-14

Buffalo Lake, NC

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

2018-06-13

NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-13

Belleville, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-13

Forest Grove, OR

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-13

Belle Mead, 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

2018-06-12

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

2018-06-12

Belleville, IL

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

2018-06-12

Belleville, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-12

Belleville, IL

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

2018-06-12

Houghs Neck, MA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-06-12

CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: On XX/XX/XXXX a Notice of Default was filed. I was still waiting for an outcome on my modification packet that was in review. I believe that Select Portfolio Servicing is in violation of Dual Tracking. I am currently in active bankruptcy, chapter XXXX, and have sent numerous attorney authorization letters to the lender so that SPS will communicate with me. I was forced to file bankruptcy due to this situation. There has been no written approval or denial of my request to assume the loan and get a modification from my most recent assumption and modification request submitted on XX/XX/XXXX. I just received a Notice of Default instead. I also have been sent mortgage statements with the balance owing {$670000.00} from XX/XX/XXXX and all previous statements. Whenever I called, Select Portfolio, I was never given my arrears that were due because they were not allowed to give me that information. I recently received my first mortgage statement dated XX/XX/XXXX that actually showed my alleged arrears and my principal balance. This is the first statement that I have received with what was alleged what I owed. I believe this also is in violation of Full Disclosure, RESPA. I have tried to get the loan assumed soon after XX/XX/XXXX, when my husband died. I believe SPS is in violation : Violations : SB-1150 Mortgages and Deeds of Trust : mortgage servicers : successors in interest The Homeowner Survivor Bill of Rights civil code 2920.7 '' also known as the widows and orphans act. For seven years I have sent in many requests and COMPLETE MODIFICATION PACKETS, so many, that I have lost count. I have not to date received any assumption or modification. First let me explain that I was a HUD Foreclosure Intervention Counselor for eight years, and I know what a COMPLETE modification packet consists of. My most recent timeline is as follows : XX/XX/XXXX Complete Loan modification submitted XX/XX/XXXX SPS letter to submit modification packet prior to XX/XX/XXXX XX/XX/XXXX SPS phone conversation with XXXX XXXX validating my option of keeping my home & modification request. XX/XX/XXXX SPS phone conversation with XXXX XXXX validating my option of keeping my home & modification request. XX/XX/XXXX SPS mortgage statement showing alleged principal balance only, no arrears disclosed. XX/XX/XXXX SPS letter refusing to give me information on my loan inquiry regarding what legal rules they are applying in consideration of my modification request. XX/XX/XXXX Loan Assumption and Complete Modification packet submitted XX/XX/XXXX SPS Acknowledgement of email receipt of my packets for assumption and modification. XX/XX/XXXX My email sent to SPS reiterating submitting my XX/XX/XXXX with updated documents to satisfy their 90 day rule. XX/XX/XXXX My email records of SPS acknowledgements of my email submissions. XX/XX/XXXX SPS phone conversation validating my option of keeping my home & modification request. XX/XX/XXXX SPS letter explaining that I would be receiving written documentation of my request including the NPV tests and property valuation report, and how to appeal a denial of a modification if applicable. XX/XX/XXXX SPS letter acknowledging receipt of my assumption and modification documents. XX/XX/XXXX SPS letter acknowledging receipt of my assumption and modification documents. XX/XX/XXXX SPS letter explaining that I would be receiving written documentation of my request including the NPV tests and property valuation report, and how to appeal a denial of a modification if applicable. XX/XX/XXXX SPS letter acknowledging receipt of my assumption and modification documents. XX/XX/XXXX SPS mortgage statement for the first time showing arrears. XX/XX/XXXX SPS letter wanting another complete modification packet. XX/XX/XXXX Notice of Default filed. XX/XX/XXXX SPS phone conversation with XXXX XXXX validating my option of keeping my home & modification request and that I would submit another packet immediately.
Company Response: Closed with explanation

Timely Response

2018-06-11

Bethany, IN

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-11

New Bern, NC

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-11

El Cajon, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-06-11

Finksburg, MD

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have been working with Select Portfolio Servicing. They are my mortgage lender. I have been working with them since late XX/XX/2018 on a mortgage loan modification. The reason that I requested this is that they increased my mortgage payment to XXXX. This is an increase of over {$200.00} over my previous mortgage payment with them. I just can't afford to pay this amount every month on a consistent basis. Starting in late XX/XX/2018 I applied for the modification. I provided the documentation for this loan modification multiple times to them. For example, I have provided the signed lease agreement ( I am renting the property ) twice. Also, I have provided two months of my checking account statements to them at least four times. These statements included notes about rental income, income from work, etc. I believe that I am getting stonewalled by the company for this refinancing. Every time that I have called them there seems to be a request for something that I have already provided. Also, they have recently started replying to me by mail. This, I believe, is another delaying tactic. They are in XXXX XXXX XXXX, XXXX and I am in XXXX, XXXX. So it takes about a week for the letters to reach me. They have told me at least twice that they have all the information they need to make a determination about refinancing. I am very frustrated with this situation and I am seeking your help to resolve it.
Company Response: Closed with explanation

Timely Response

2018-06-11

Coalinga, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

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

Timely Response

2018-06-09

Hidden Valley, CA

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-06-08

Greenwood, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Hi my is name XXXX XXXX. I have some concerns with my servicer Select Portfolio Servicing. I have a scheduled foreclosure sale schedule soon o XX/XX/2018. Recently I have mailed in a loan modification Request for Mortgage Assistance form along with all the necessary documents that are essential to having a complete packet. SPS have received a complete Request for Mortgage Assistance packet and its under review. Im still just worried that they will play some game right before the sale and foreclosure on my home. They still have not cancelled or postponed the sale even though they have a complete loan modification packet and its still in underwriting review. This is a continuous game they play and always are putting me on the edge and fear that I will lose my home. Can they just cancel the sale and work with me. Give me a good loan modification with a principal reduction or something that I could afford monthly. However number of financial factors that make it more profitable for a mortgage servicer avoid modification and to continue to keep a mortgage in a state of default or distress and to push loans toward foreclosure. This is especially true in cases where the mortgage is owned by a third-party investor and is merely serviced by the servicer. However, this is countered by a number of financial factors that make it more profitable for a mortgage servicer such as Select portfolio Servicing to avoid modification and to continue to keep a mortgage in a state of default or distress and to push loans toward foreclosure. This is especially true in cases where the mortgage is owned by a third-party investor and is merely serviced by Service companies because Service companies do not carry a significant risk of loss in the event of foreclosure. California Business and Professions Code 17200 et seq., also known as the California Unfair Competition Law ( UCL ), prohibits acts of unfair competition, including any unlawful, unfair, or deceptive business act or practice as well as unfair, deceptive, untrue or misleading advertising. Select portfolio Servicing and all other previous servicers and their Investors conduct was unlawful in that : They engaged in the uniform practice of requesting unnecessary documentation, seeking repetitive submissions of the same documents, and never rendering a decision, and in doing so, such activity provides the basis for an unfair inquiry and could deceive the me because it places burdensome requirements on me that served no purpose but to provide a basis for either engaging in Dual Tracking by selling my home and by denying loss mitigation options, such as loan modifications If they proceed with the sale they will be violating the California Homeowners Bill of Rights Act
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-06-08

Santa Ana, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I have been applying for a modification and they have stalled for over 2 years. I was canceled many times due to paperwork not being ( all docs were factually in on time ). After appealing numerous times and proving they were wrong that all docs were in they put the application through. By this time I was so far behind they denied me due to " excessive forbearance ''. This was caused by them continuously canceling under false pretenses
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-06-08

San Jacinto, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I was denied a modification on This home on XX/XX/XXXX According to the lender. However, prior to notice of decision to deny which came on XX/XX/XXXX, the lender had an appraiser call me to schedule an appraisal. I was called on XX/XX/XXXX. So they claim they denied me but still needed an appraisal after the fact??!? I am very confused by this. They denied me and then scheduled an appraisal at my expense. How is that fair or accurate. I do not think they considered all pertinent info prior to denying my modification. I appealed the decision and they are saying it was submitted to late however it was submitted 2 days after we received notice. They are not giving me time to rebut the misinformation. Nor are they allowing a fair disclosure times, when considering they sent me the denial after the allotted time to appeal.
Company Response: Closed with explanation

Timely Response