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 94
2018-01-08
San Jacinto, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I inadvertently missed my XX/XX/XXXX payment on my mortgage. The amount was {$1800.00}. It came to my attention after XX/XX/XXXX, so on XX/XX/XXXX, I called XXXX XXXX XXXX at their customer service number ( XXXX ) XXXX and spoke with a representative. I made three ( 3 ) payments : One for {$3600.00} for the months of XX/XX/XXXX and XX/XX/XXXX ; and one for {$1800.00} for the month of XX/XX/XXXX. For convenience sake, I made the {$3600.00} payment utilizing checks drawn from my credit card account, which were secured by XXXX XXXX XXXX. When I made this payment, I specifically advised the representative that they were credit card checks, because I was mindful that mortgage companies do not accept credit cards. The representative specifically advised me that the payment method was acceptable. Now, XXXX XXXX XXXX has, after the fact, rejected the credit card check payments. It has furthermore registered my account as delinquent by two ( 2 ) payments, and is making us pay the next six ( 6 ) months via certified funds. This has resulted in tremendous extra cost to me, and will result in extensive additional time, effort, energy, and cost moving forward.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-08
Fort Worth, TX
False statements or representation
Debt collection: Mortgage debt
Attempted to collect wrong amount
Complaint: We bought this property on XX/XX/XXXX for a value of {$74000.00}. Originally we take a mortgage loan of {$65000.00}. From XX/XX/XXXX to XX/XX/XXXX we had financial problems and we were unable to do the payments. Then on XX/XX/XXXX it was a established a new loan for the amount of {$72000.00} since that we made payments twice a month of {$670.00}. each.
Now that we ask for the payoff because we are trying to get a new loan in another bank they are telling us that our balance is {$100000.00}.
They send us an statement and there was not reduced all the double payments we made since XX/XX/XXXX up to XX/XX/XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-07
Graham, NC
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-07
FL
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Complaint: XX/XX/2017 I was informed that my HELOC interest rate would be changing monthly. This is not the correct term of the loan. my rate is tied to prime is to to change annually in XX/XX/XXXX. I have called several times and they tell me that the research they did does not show that it is tied to the prime annually. It is very clear on the recorded mortgage that it is tied to prime annually. Also, the max rate is not 18 %. That needs to be looked into also.
In XXXX I spoke to someone again and they said yes the loan has been set up in the system wrong and it is only supposed to change annually not monthly. We also talked about the affect the hurricane had on me making the payments. She was going to see if they could move the payments to the end of the loan and check on getting the loan terms corrected in the system. I never received a phone call or any documentation in the mail stating that the research had been done, rate change was fixed and a credit given for any overages, and no solution about the hardship during hurricane irma ( 2017 ).
I continue to get past due letters. I am on a fixed income and am approaching XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-06
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 date on XXXX/XXXX/XXXX. 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. I called SPS on XXXX/XXXX/XXXX at around XXXX spoke with XXXX asked him whats the status and he told me that they have received a complete Request for Mortgage Assistance packet and its under review.
Im 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.
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
2018-01-06
Laurel, 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
2018-01-05
Moreno Valley, CA
Incorrect information on your report
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-05
Oxford, GA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information belongs to someone else
Complaint: Both myself and my husband are victims of IRS FRAUD, MORTGAGE FRAUD, PRONZY SCAMS FROM HARD MONEY LOANS, MORTGAGE FRAUD and CREDIT FRAUD. We were unaware of any of this taking place which apparently stated in 1998. Our attorney and tax consultant instructed us to ensure we have secured property deeds, We revealed an embezzlement ring which, appear to include high ranking individuals. Due to security issues I will not release this information. We have attorney 's involved. As we continued to reviewed are credit bureau we later discovered fraud charges on our credit cards and bank accounts.It appears particular individuals directed the heads of particular companies to ensure we loose everything we have worked for. I testified for a XXXX XXXX XXXX client who was XXXX XXXX both on a local and national level and the state of Georgia Retaliated against my agency. The vandalism to my home, thefts to include death threats still continue. The attorney hired by the agency sold me out to cover others. My XXXX number was taken and THEY HAD THE AUDACITY TO RELATE IT TO FRAUD BECAUSE I would n't agree to the COUNTER SETTLEMENT. I WILL FIGHT UNTIL EVERY PERSON INVOLVED IS CONVICTED!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-05
Palos Verdes Estates, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-04
Lowell, 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
2018-01-04
Auburn Hills, MI
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-04
Oceanside, CA
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
2018-01-04
Wrentham, 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
2018-01-04
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
2018-01-03
Burke, VA
Written notification about debt
Debt collection: Mortgage 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
2018-01-03
Republic, WA
Written notification about debt
Debt collection: Mortgage 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
2018-01-02
Vallejo, CA
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
2018-01-02
Manor, DE
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-02
Las Vegas, NV
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2018-01-01
Las Vegas, NV
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-12-31
Magna, UT
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
2017-12-30
Fort Collins, CO
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Complaint: See referenced complaint XXXX.I’m really not sure how many times I’ve brought this up, but I feel like this is the 5th or 6th time I’ve had to go to the CFPB never mind other agencies over how unfairly we’ve been treated by this company, and just to simply fix my otherwise clean credit report.Select Portfolio Servicing has twice now suppressed, 30 day late payment reporting from my XXXX and XXXX reports, and now twice has replaced those issues within only a few months. We have since paid off this loan, and I was forced to address with my credit bureaus why Select Portfolio had failed to report a closed/fully paid off account. That’s now cleared up, but now XXXX is reporting late payments again on my credit bureau. XXXX somehow has it stuck in their system that this account was paid late on two dates, after multiple conversations XXXX had agreed to suppress the negative reporting from my credit bureau, but then has replaced that reporting again and again. When i have called I get excuses as to how one system works or another. That isn’t my responsibility. I’ve paid you, I have now paid you off, now please get out of my life for good.The following is what I want:1) Please re-submit the suppression of negative credit reporting from my credit bureau with XXXX and XXXX.2) Get out of my life and never bug me again.Thank you,XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-12-30
Grover Hill, OH
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-12-29
WA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation
2017-12-29
NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Our mortgage was sold by XXXX to Select Portfolio Servicing in XX/XX/XXXX. We have been contacting SPS for several years requesting assistance options in an effort to sell our " underwater '' home. We were continuously told that our " loan holder had a note on our account stating that we were not eligible for any form of loan assistance. '' We asked multiple representatives on multiple occasions who the loan holder was and why we were being prohibited from mortgage assistance? We were repeatedly told, " I do n't have access to that information. '' In XX/XX/XXXX, we contacted SPS again requesting assistance and were told that with the changes in the HUD laws, we were eligible for several loan modification options. One option was a modification and the other option was a short pay. We were advised to open requests for BOTH the modification and the short pay so we could save money through the modification while we waited to see if we were approved for a short pay. We submitted all the required documentation for both the loan modification and the short pay. We received notification of a new mortgage amount reflecting a loan modification and that we were starting the " trial period '' for the modification in XX/XX/XXXX. We asked, How has the mortgage been modified? Was the interest rate lowered, or was the principal amount reduced? Will there be a balloon payment at the end of the mortgage? We were told, Im not a modification specialist. I dont have the terms of the modification in front of me. I cant tell you that. In XX/XX/XXXX ( the final month of the trial period for the modification ), we received a letter notifying us that our request to terminate our loan modification was received and the modification was cancelled. We immediately contacted SPS to find out why this was done because we had, at no time, requested to cancel our request for a modification. We were then told, " You ca n't have a request for a modification and a short pay open at the same time. '' We asked why we were advised to open both requests at the same time and why the SPS representative opened both requests on the phone if we were not permitted to do so? We were simply informed, " I do n't know. She never should have told you could do that. Clearly you do n't understand how this works. '' As of XX/XX/XXXX, we continued to work with SPS on the short pay request. We repeatedly asked several questions regarding the terms of a short pay : " What happens to the remaining balance of the loan? Does a short pay negatively affect your credit score? Will we be held financially responsible for the difference of the old and new mortgage amount? Will we owe taxes on the remaining balance of the previous mortgage? '' Each time we were told, " I ca n't tell you that. I 'm not a loan assistance specialist. I 'm not a financial advisor. I ca n't answer that. I 'm not a credit specialist. I ca n't answer that. '' We asked to receive documentation of all of the terms and conditions and stipulations of the short pay and each time have been told, " We ca n't give you that. We do n't have any documentation. '' Over the course of eight months ( since we initially opened the short pay request ), we were repeatedly contacted by SPS and told that we needed to provide documents to move forward in our request. Each time, we sent the same documents several times ( documents were sent within 24-48 hours of each request ). We would call and follow-up to make sure that the documents were received. We were always given the same response, " I see they have been uploaded to the site, but I ca n't see the documents. They will be reviewed and someone will get back to you in 3-5 business days. '' Week after week, month after month, we would receive phone calls requesting further documentation. Despite our constant attempts to clarify with SPS, they would call asking for proof of transactions for bank accounts we did n't hold, last two months pay stubs from my place of employment ( they were told repeatedly I have n't worked in over 3 years and do not have pay stubs ), and would re-start the application process over every time they requested something within 10 days of our previous correspondence.
We also began to receive repeated phone calls from realtors informing us that our mortgage company was requesting BPO inspections and that they had to come to the house to take pictures and provide appraisals. We had a total of six realtors come to our home as of XX/XX/XXXX. We contacted SPS multiple times requesting information as to why an excessive number of BPO inspections were being requested. We finally received some validation from a representative from SPS ( XXXX ) who said, " I have never seen this many BPO 's requested. Why was a drive-by inspected requested? We do n't even allow those. You should have only needed two of these and I see that you have more than enough. '' We were told that when you submit an offer to the loan holder to submit the lowest possible offer, and then the loan holder would go back and forth with offers until we eventually agree on a final amount. However, upon submitting our second short pay offer in XX/XX/XXXX, we received notification that SPS completely closed our application for a short pay because our offer was denied. After months of stress, exhaustion, submitting documentation, phone calls, BPO inspections, home repairs, etc., we were right back to " square one '' with no explanation as to why? We called SPS and asked why our request was closed and explained that we were told we could continue to submit offers until the loan holder agreed on an amount. We were told, " No, that 's not how this works. You only get one counter offer and then we close the request. '' We explained that if we were told that in the first place we would have come in higher with our initial offer. We received nothing more than a, " Sorry, but that 's how it works and there 's nothing we can do. '' We were then told that if we wanted to continue with the short pay process, we would have to start the application process completely from scratch, submit all the documentation again, and this time, we were responsible for getting our own XXXX because the mortgage company would no longer send realtors on their behalf to conduct the inspections. We complied and resubmitted all required documentation AND a BPO from XXXX on XX/XX/XXXX. Shortly after, my husband received a phone call AGAIN requesting my most recent pay stubs. ONCE AGAIN, my husband explained that I have not worked in over 3 years and that there were no stubs to provide. The next contact we received was that SPS required us to provide a HUD statement showing proof of funds for the short pay. We asked how we could possibly request a mortgage without knowing how much to request and if we are approved for a short pay? They said, " That 's how this works. You need to show where the money is coming from. '' Once again, we said, " We are willing to comply with your requirements, but you 're still not telling us how much we need to request from a mortgage company. We need an amount to apply for. '' We were told, " I 'm not a loan assistance specialist. I ca n't tell you that. '' As of XX/XX/XXXX, we asked again what the terms, conditions, and stipulations of the short pay were, how it would affect our credit, what the financial liabilities were, etc. Once again, we were denied answers.
To date, we have no resolution or assistance from SPS regarding any form of mortgage assistance. SPS refuses to disclose any information to us regarding our request for a short pay. Each time we speak to someone, we receive different information and no one will commit to assist and/or advocate for us in any way. We have been assigned a relationship manager but have only spoken with him several times throughout the process ( despite our repeated requests to receive calls from him ). As it stands, we have been told that we are required to obtain a mortgage for an unknown amount and show proof of funds to SPS for an ambiguous short pay.
Our family has struggled and suffered tremendously throughout this process and our plans to move into a new home have been repeatedly delayed as a result of SPSs negligence. We fear that we have been ill advised and are being pressured into a very dangerous financial commitment that may significantly and negatively impact our family. We are desperately seeking assistance in this matter and would greatly appreciate any support in rectifying these issues and/or pursuing legal action again Select Portfolio Servicing.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation