SELECT PORTFOLIO SERVICING, INC

2018-05-08

Caldwell, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-05-08

Colville, WA

Struggling to pay mortgage

Mortgage: Other type of 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

2018-05-07

Arden Hills, MN

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-05-07

Baltimore, MD

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-05-07

Worcester, MA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I contacted select portfolio, explained that a repayment arraignment would not work I needed a modification. I was told additional documents were needed. I received a request in writing of the documents with a date needed by. Prior to this date I receive another repayment plan. When I called and told the customer service agent what happen they said thats all I was getting, I explained all documents that were requested had not been submitted I was told " not neededI already have what they are offering ''. Please help
Company Response: Closed with explanation

Timely Response

2018-05-06

Ivalee, AL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-05-06

Cucamonga, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-05-04

Atl, GA

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Closed with explanation

Timely Response

2018-05-04

Las Vegas, NV

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Untimely Response

2018-05-04

El Paso, TX

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-05-04

Ridgefield, CT

Struggling to pay mortgage

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2018-05-04

Atlanta, GA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I applied for and was offered a mortgage modification by my second mortgage servicer, Select Portfolio Servicing Inc ( SPS ). After over 4 months of jumping through their hoops with paperwork, I received an offer for a " JPM Trial Modification ''. the letter states " Congratulations! You are qualified for and we are pleased to offer you a JPM Trial Modification. This program is intended to help you avoid foreclosure or other legal action ... .. '' This part of the letter would make someone hopeful, excited that they are finally being granted some help and relief. As if SPS is doing me a favor. HOWEVER, this is very misleading and devious. Upon further review of the offer, I understood that SPS was proposing terms that would keep my interest rate the same ( 5 % ), add more money onto the principal of my loan, and increase the time I would have to pay on the loan over 20 years longer! Only to decrease my payment by {$40.00}! The modification they have proposed would make them almost {$50000.00} MORE over the life of this loan ( on a loan that began at {$32000.00} I would have paid well over {$100000.00} for ), which is certainly no help to me. Although I know no one in their right mind would accept such an absurd offer, I realize they are preying on people who are experiencing hardship and desperate to reduce their payment. People may be so desperate to reduce their payments to keep their home, they might actually agree to these terms. This is predatory and unethical in my opinion. People may or may not realize what is being proposed and actually sign up out of desperation to reduce their payment. I have had 2 previous mortgage modifications ( with my first mortgage that XXXX XXXX ) and they have never proposed and insulting offer such as this. Their offers included a lowered interest rate, thus a lower payment. They worked with me to reduce my obligation with more reasonable terms and interest rate that reflects the present day interest rates and loans. I have tried to speak with SPS multiple times about this offer and the terms and their answer is " take it or leave it ''. They are not willing to offer more reasonable terms that doesn't simply make them more money. One representative I spoke to blatantly lied and said what's written in my letter will not be there terms, and I need to just pay the 3 trial period payments of {$190.00} to even find out what the terms would be! THEY ARE LYING. I was also told that I could file an appeal based on my issue with the offer. I explained to the representative that I believed appeals were only if the information used to determine the offer was believed to be incorrect. She stated that was not the case and I could file an appeal on the grounds that I did not believe the offer was reasonable. They recently sent me an appeal denial because my " request did not provide any detail in regards to any specific error identified in the decision ''. Between their bogus offer to reduce my payment {$40.00} by adding 24 years to my loan, their signature page included in the offer if I'd rather a short sale, and their representatives that either blatantly lie or offer no help at all, it is apparent that this company is not at all willing to help me avoid foreclosure and bring my account current. It is further infuriating to read in every correspondence with me that they " are committed to home retention and offers many assistance options designed for customers who are experiences temporary or permanent hardship. '' That is abundantly misleading as they are doing nothing of the sort for me. This unethical company seems to think I'm a total XXXX, possibly because there are other people that are actually accepting these types of offers from SPS. These predators must be stopped. Since they aren't taking me seriously when I call, and they aren't willing to make a reasonable offer, I feel I have nowhere to turn to avoid losing my home.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-05-02

Hollywood, FL

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Closed with explanation

Timely Response

2018-05-02

Tulare, CA

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: Tried to get a modification due to hardship of divorce, loss of income. Submitted documents required and they gave me the excuse of the bottom of pay stub being ripped. They gave me the run around continuing to ask for more documents and claiming they didnt receive them. Her father had just passed away and lost all hope of everything including saving home. When I came in as third person party to help I got the auction date postponed. And started the process all over again for modification. This company has done nothing to help my client. Long story short they denied her the modification again so we went into short sale option. Now they have denied her the short sale at the last minute.There is no reason for them to deny the short sale. She has 13 offers on the property. I have detailed notes of each conversation dated and the person that I spoke with. I am at a loss as to how to help my client. She can possibly lose her job over this due to having a foreclosure on record it is considered suspicion of character. I have reached out to XXXX XXXX XXXX XXXX XXXX but I am not sure they can help. I need to help this family. This lender is fraudulent and corrupt and they need to have consequences.
Company Response: Closed with explanation

Timely Response

2018-05-02

Watkins, CO

Incorrect information on your report

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

Account information incorrect
Complaint: I had a foreclosure with a company but it is showing up as 2 separate accounts on my credit report. It is damaging my credit because it appears as though i had 2 foreclosures when i actually only had 1. I've tried correcting the reporting with the company and the bureaus but have been unable to.
Company Response: Closed with explanation

Timely Response

2018-05-02

Montclair, NJ

Struggling to pay mortgage

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Closed with explanation

Timely Response

2018-05-02

TN

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: Our mortgage got behind XX/XX/XXXX because of my mother XXXX XXXX. I applied for a mortgage modification with our mortgage company Select Port Folio. They processed my request and on XX/XX/XXXX I received Trial Modification Retraction from Select Port Folio after I had made 2 Trial payments of the 3 payments that is required per the Trial modification I received. I have recently resent request for mortgage modification with financials to them again. I do want to keep my home. Please help me with this modification request.
Company Response: Closed with explanation

Timely Response

2018-05-02

La Cienga, NM

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-05-02

Queens, NY

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: XX/XX/XXXX Re : XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, New York XXXX Loan # XXXX I would like to file a complaint against Select Portfolio Servicing , Inc . I have been requesting assistance for my property. I have submitted numerous applications, and I have been denied. There are several programs that Select Portfolio Servicing , Inc. should have made available for my property as the HAM Program, The DOJ Settlement, The reduction of principal and late payments, however none was provided to me. My last submission was on XX/XX/XXXX. Select Portfolio Servicing, Inc. sent a letter dated XX/XX/XXXX with a repayment plan of {$6500.00}. The {$6500.00} monthly payment is excessively high, and is not feasible. It will only make me go back into default with this excessive monthly payment. Please help me keep my home. I would like to keep my home. I would like to be considered for a reduction of principal and interest, as it would make my monthly payments more affordable. Thanking you in advance, XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-05-01

Arleta, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Hello, In the period from XX/XX/XXXX to XX/XX/XXXX there are Three mortgage lenders involved in my home loan. On XX/XX/XXXX a payment wasn't registered to the new lender enter on XX/XX/XXXX. I am attaching documents to review the information also the missing payment for {$1900.00}. XXXX.
Company Response: Closed with explanation

Timely Response

2018-05-01

Winton, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Please review the previous complaint and response from # XXXX. Not only did they mislead you in their response, claiming that the impound accounts don't get modified until a 6 month review, when they changed the amount immediately, in their first billing. They have also lied about providing an actual " Certified Copy '' of the original loan documents, and the Note itself. They sent another electronic file copy, which is not the same, but the last complaint was closed before they fulfilled anything they promised. I believe this is further proof that they are not in possession of the actual security documents, and as stated before, who then can return these documents upon payoff? Who actually has the documents, and at what point will they demand payment? Perhaps they no longer exist.
Company Response: Closed with explanation

Timely Response

2018-05-01

MA

Struggling to pay mortgage

Mortgage: Other type of mortgage

Complaint: Sent from my XXXX Begin forwarded message : From : " XXXX XXXX XXXX '' <XXXX> Date : XX/XX/XXXX at XXXX XXXX EDT To : " XXXX XXXX XXXX '' <XXXX> Cc : " XXXX XXXX XXXX '' <XXXX> Subject : Fwd : sps mortgage XXXX complaint Begin forwarded message : From : " XXXX XXXX XXXX '' <XXXX> Date : XX/XX/XXXX XXXX XXXX Subject : XXXX XXXX XXXX complaint I am writing this complaint to you regarding my mortgage servicer SPS. I have been trying to work with them now for 3 years XXXX XXXX was my previous relationship manager, and countless mistakes were made, a missing pymt that they lost and when they found, it wouldn't stay applied to the account. the copy that you have of the XX/XX/XXXX modification was not the final one due to so many internal mistakes made by the company on my account. XXXX was suppose to stay on board for a few months after but disappeared immediately. during the trial period full payments were made not partial or the the smaller amount required, I was told after that if full payments were made that would have created a shortage and would not have been acceptable. I am medically disabled since XX/XX/XXXX un paid.. payments not until XX/XX/XXXX. I went to SPS for mortgage assistance seeing my income is not as it used to be and on disability. The modification that I was given was more then the amount of money that I take in on a monthly basis and was forced to add my hazard insurance into my monthly payment. I was upset and complaining to them about everything! This wasn't working for me at all and in XX/XX/XXXX they allowed my hazard insurance to go to a hard cancel status. When I received this notice I became so furious i went to my agent and paid the balance in full for the year. I notified them in writing that i wished to have my letter forwarded to the invester, all was ignored! Things were not going well as to be expected at the end of XX/XX/XXXX and I got another hazard cancellation for XX/XX/XXXX-XX/XX/XXXX year. I was upset and called pretty mad with another canellation, i told them to pay the smaller amount and I would try to get the fees waived, they paid the higher amount. I also brought up the fact that the modification still had my ex 's name on it, and wasn't working for me, again I requested extra help to fix the mess of XX/XX/XXXX. I was told a re payment plan was all that could be offered at XXXX per month to which I had to reject immediately. my new relationship manager is.. XXXX XXXX at XXXX ex XXXX in XXXX XXXX XXXX . XXXX XXXX spoke with me for the conversation when I rejected the offer and he is a supervisior in XXXX XXXX XXXX. He offered what he said was all left was to take final balance of {$200000.00} inc balloon and divide by number of pymts left my interest rate is 3.5 %. Family caculated this payment out and said going to be too high, call and see if they will give you a 30 year term. I went to call and in that days mail came the rejected offer! More Confusion, when I called XXXX said investors said no and they want this 12 month re payment plan of over XXXX per month same terms with 40 plus thousand balloon due in XX/XX/XXXX. im trying to keep and pay for home not loose it and be foreclosed on. Sincerely, XXXX XXXX XXXX
Company Response: Closed with explanation

Timely Response

2018-04-30

Lucas, TX

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-04-30

Beverly Hills, CA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2018-04-30

Spring Hill, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response