SELECT PORTFOLIO SERVICING, INC

2017-12-06

NY

Incorrect information on your report

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

Account status incorrect
Complaint: XXXX took over the servicing of my Mortgage and almost immediately made a mistake paying taxes and collecting payments. My loan includes escrows which means the bank is responsible for paying my taxes when due. When XXXX received my school tax bill they failed to pay the school taxes. In XXXX they received the town tax bill. Since they failed to pay the school taxes in XXXX the school taxes were billed again and were added to the town tax bill. XXXX read this as my town taxes had increased from appox. {$2000.00} to {$10000.00}. XXXX then raised my escrow payment almost {$1000.00} per month to cover for their mistake. I immediately called them and told them of their mistake, but they did nothing to correct their mistake or the payment. I sent them a letter explaining their error ( attached ). It was ignored. I made several other subsequent calls and they ignored me, acting as if I was a liar and did not know what I was talking about. I would explain their error and they would respond that I owed the additional funds. It was as if they turned the volume off on the phone and did not hear a word I said. This included managers I spoke with. I was treated with absolutely no respect or concern. They acted as if it was impossible they could have made a mistake. Almost 2 years went by and XXXX ignored every call and every letter. It was not until after dozens of attempts to correct their mistake I got a manager who actually looked at the escrow account and saw there was thousands of dollars in excess funds in the escrow account. However, He still never admitted the mistake. I was told I needed another {$500.00} to bring account current. At this time XXXX was already holding {$43000.00} and still reporting I was almost 2 years behind on my mortgage even though they had all the payments. Also, I did not need another {$500.00}. XXXX had been holding over {$1000.00} for years which they could never explain why. They refunded this money to me about a year ago. So in fact they had all the payments plus approx. another {$700.00} and XXXX was still reporting my account almost 2 years late. XXXX needs to immediately correct my credit report to reflect no lates. I believe they should also have to pay restitution for all the problems this has caused me in obtaining new credit. XXXX has violated multiple laws for collecting and reporting a debt while servicing my account without taking any responsibility at all for their negligence.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-06

Madison, WI

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My mortgage holder, Select Portfolio Servicing ( SPS ), performed an escrow analysis on my account and mailed me a letter informing me of such in early XXXX XXXX. In the letter, I was informed that, based on their projections for the year, I had overpaid my escrow by about {$700.00} and that I could expect a refund. No timeline for the refund was provided in the letter. Maybe a week after receiving the letter, I contacted SPS to see when they might be mailing me my refund. I was told the check would be mailed on XXXX XXXX XXXX. I waited for the refund to appear in my mailbox and it never did. I contacted SPS in mid XXXX XXXX and was told the check was mailed on XXXX XXXX XXXX. They were surprised that I had n't gotten it in the mail yet and I was told that the check would be cancelled and a new check issued. During this conversation, as in all prior and subsequent conversations, I was prompted to verify my property and mailing address ( they are the same ) with SPS 's call center representatives. I have been in regular contact with numerous SPS call center representatives in the past 3 weeks or so ( none are able to give me their direct contact information, as they are 'call center ' workers ) and none of them has been able to verify for me where my refund check is and when I might see it. The best answer I 've gotten is somewhere along the lines of 'I 've alerted my supervisor and noted it in your record '. I understand federal law ( RESPA ) requires companies like SPS, following their annual escrow analyses, refund any escrow overpayments of {$50.00} or more to the lender ( s ) within 30 days. My concern is that deadline has come and gone and I still have n't gotten my refund. SPS has my correct mailing address. Otherwise, I never would have been alerted to their analysis of my escrow nor my escrow overage in the first place. I suspect they never sent me a check on XXXX XXXX XXXX and are in violation of federal law. Also, XXXX is coming ; I want my money.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-06

MA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I am seeking assistance in regards to my mortgage with SPS. I have a potential short sale that we would like to complete with the lender SPS. I initially reached out to them on multiple occasions seeking assistance and was advised that they had placed a sale date on the file for XXXX/XXXX/XXXX. I immediately advised my financial adviser that they were unwilling to help with getting a loan modification approved in order to keep the property. My adviser stated that we should submit a formal compliant as I was never served with any notice of foreclosure sale paperwork. This property has been in my family for multiple generations and has become a family heirloom. I worked together with the lender on submitting multiple completed loan modification packages with all financials, addendum 's, forms and contracts needed in order to complete a formal review but was subsequently denied. We are asking that provide us with a 45-60 day foreclosure stay in order to allow for a complete review to go through as we do not wish to have a foreclosure on our record. Our family has gone through enough hardship and this is something that will potentially break us apart. Please help us obtain postponement in order to allow enough time to complete a short sale review as my property was listed for sale on XXXX XXXX, XXXX in preparation to complete a short sale on my property as it is simply no longer worth what I owe the mortgage company.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-06

Fort Washington, MD

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

2017-12-05

NC

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I sent my entire insurance proceeds of ( {$75000.00} ) to Select Portfolio Servicing on XXXX-XXXX-17. 90 days now and the funds have not been credited to my account! Meanwhile they have added expensive homeowners insurance to my burned up home! It cost triple to the policy I had prior to the fire! Last night & nearly every night I get a threatening phone call from SPS. This time after 21 minutes of XXXX, I told the guy ... Go ahead with your foreclosure plans, SPS is going to look pretty XXXX foreclosing on a paid mortgage! Since the fire {$78000.00} has been received by SPS towards my mortgage. They have me showing in default while sitting on the {$75000.00}, thus the collection calls!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-05

Minneapolis, MN

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

2017-12-04

Las Vegas, NV

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I submitted a complaint with the CFPB on XX/XX/XXXX, concerning my mortgage servicer, XXXX XXXX ( now " XXXX XXXX '' ). I had many concerns about the company, and had still never seen any paperwork about my loan, other than the original documentation from XX/XX/XXXX, when I originated the loan with XXXX XXXX XXXX. Within two weeks of filing the complaint, I was informed that XXXX XXXX had sold my loan to XXXX XXXX. They apparently took over the account in mid XX/XX/XXXX, but it is now past XX/XX/XXXX, and I have yet to receive any correspondence from XXXX XXXX. I do not know the terms of the loan, or the amount of my monthly payment. Beside the fact that XXXX XXXX is the target of multiple on-line complaints, my main concern remains the same. Why ca n't anyone provide any type of documentation about my mortgage. Yes, I took a loan from XXXX in XX/XX/XXXX. But now, after 16 years and 4 mortgage companies, I seem to owe as much as I borrowed, and the only loan documentation is the original one from 16 years ago. I hope you can help. Thank you. XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-04

Anderson, OH

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

2017-12-04

San Jose, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Select Portfolio Servicing failed to pay the property tax before due date of XXXX XXXX. Name on the account : XXXX XXXX Account # : XXXX XXXX XXXX XXXX XXXX XXXX XXXX # XXXX Account Due : {$5100.00} Property Address : XXXX XXXX XXXX XXXX, XXXX XXXX, CA XXXX Select Portfolio Servicing claim payment was paid XXXX XXXX but when request paper confirmation, one can not be provided. According to the XXXX XXXX XXXX XXXX department, payment XXXX as of today ), have not been received.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-04

Atlanta, GA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: XX/XX/XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, General Counsel General Law & Ethics XXXX XXXX, Deputy General Counsel Litigation & Oversight XXXX XXXX, Deputy General Counsel Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX. XXXXXXXX XXXX. XXXX Dear Friends : I hope you decided to join me and provide guidance in pursuing justice with respect to my local government XXXX County and XXXX XXXX XXXX. After losing my home in XX/XX/XXXX I am exhausted. Please allow me to share with the most recent evidence of poor governance and tax collector fraud by XXXX County. Attached is a copy of the XXXX County Georgia Property Tax Assessment for a property that I owned from XX/XX/XXXX to XX/XX/XXXX. First, please note that home is appraised for XXXX on the most recent XXXX County Tax Bill forXX/XX/XXXX First, the home continues to be appraised at XXXX Second, the true market value was realized or evidenced at the sale of the closing statement for XXXX. Historically, my XXXX County Tax appeals were met with valuation increases the following year. XXXX County doesn’t have a reliable tax assessment model. The Governor Of Georgia as advocated this as well and requested a freeze in tax billings. The Congressional Tax plan will place many of the local tax authorities in crisis due to the limit on local property tax deduction to XXXX. When taxpayers realize this financial change, the local governments will enter a crisis due to heavy dependency on “Non Market” Property Tax Valuation. The Federal government has been subsidizing local tax authority property tax abuse by shielding the financial impact with a deduction. This has also supported unfavorable local government management. For example, XXXX County Tax revenues and budget expenses increased during the Great Recession of XX/XX/XXXX to XX/XX/XXXX. We market property valuations declined 30%. Please join me in litigation against XXXX XXXX XXXX and XXXX County Tax Assessor for Property Tax Fraud Home Affordable Modification Program. I would like to recover over XXXX in excessive property tax non-market assessments payments and damages from XX/XX/XXXX to XX/XX/XXXX. I understand that class action litigation may be more applicable. Sincerely, XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-04

Miami, 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

2017-12-04

Southworth, WA

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

2017-12-03

El Sobrante, 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

Timely Response

2017-12-03

Newark, NJ

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

2017-12-02

Crossings, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: On XX/XX/XXXX our family was relocated to XXXX for my husband new job. During this period we was already beware a loan modification process of our house in Puerto Rico with XXXX XX/XX/XXXX. On XX/XX/XXXX SPS the organization that XXXX XXXX use to manage their mortgage accounts finally approved our loan modification. We signed it on XX/XX/XXXX. On XX/XX/XXXX our realtor recommend us the short sale option to sale our house because Puerto Ric 's economy situation was too unstable and this option give us a better opportunity to sale. The agent also told us about a client who was interesting in the property. Immediately we call to SPS to expose our opportunity to sell with a pre-approved loan of our recommended agent 's client. SPS told us that to use this method our loan need to be late on payments. They also told us that they can consider the proposal and that during the proposal examination process ( 90 days ), we do not have to make payments. After that they accept the short sale proposal examination process, but they also delete our loan modification unilaterally, even when this was already done. This first short sale process never finish because SPS was very slow in the entire application review ( almost 4 month ) and our client just denied. After the process with our first client we start over again to make payments as they told us, in XX/XX/XXXX and for a regular quantity, {$1100.00}, without modification plan payment as SPS tell us. In XX/XX/XXXX another client was presented to the SPS with a new proposal. SPS accept the analysis to this new proposal and told us about the new 90 days period, stopping our payments during this period again. After almost four month, during the first week of XX/XX/XXXX, SPS sent a letter rejecting the proposal again without any explanation. They just said that the lender did n't accept the quantity and never told us who is the lender of the mortgage. So until today we did n't know who is the investor of our mortgage and what they expect as a reasonable price for the properties. The quantity submitted in the proposal was the recommendation of the realtor using the sold properties around our community.The same client that is very interesting in the property and have a approved loan increase the quantity of the proposal and the realtor decrease her commission and in XX/XX/XXXX their new proposal was send to SPS again. XXXX this organization until today XX/XX/XXXX did n't give us a respond and our client is getting tired to wait again. SPS even when stop our payments during their Short Sale verification processes report " our delay '', to the credit bureau. Please help us!
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-01

Black Horse, OH

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

2017-12-01

Dallas, TX

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: The amount of money XXXX claims I owe is incorrect. The balance is more than it should be. The information needed for the modification was timely submitted, yet now XXXX is saying they do n't have everything. I started with a realtor just in case my modification was not accepted, and I also have an investor to buy the property because I did not want a foreclosure on my record since then I can not get an apartment or any rented home. I 'm asking that I get at least an additional 30 days for them to review my modification or time to complete the short sale process. I received a letter stating that it was in review and now they are stating that they need an additional 30 days to review the package, but they ca n't stop the sale until then. Please help me in getting some extended time.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-12-01

Black Horse, OH

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

2017-12-01

Tarzana, 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

2017-12-01

Hudson, NC

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

2017-12-01

Franklinville, NJ

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

2017-11-30

Hinsdale, 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

2017-11-30

Boca Raton, 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

2017-11-30

Kendall, FL

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

2017-11-30

Fort Washington, MD

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