Date Received: 2021-12-16
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I am having a very difficult time with Select Portfolio Servicing. After my CARES ACT COVID Forbearance SPS is refusing to review me for a loan modification to fix the past due balance. I have submitted but it gets kicked out. I am now back to work full-time. My income was greatly affected by the pandemic. I was told when I went into the forbearance that SPS could resolve at the end. Now that I am back to work my income qualifies for approval. I am not trying to lower the payment. Just get back to current. I am filing a complaint to help save my home and get my modification documents in review.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92078
Submitted Via: Web
Date Sent: 2021-12-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-16
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I am having a very difficult time with Select Portfolio Servicing. We're getting back on our feet financially from COVID 19 and have been denied for a loan modification. The reason given by SPS was due to the delinquency of the account. That does not make any sense to me due to the fact SPS is the one that told me they could help me under the CARES ACT with the forbearance. Now the we're back working we just want to go back to making our monthly payments and avoid foreclosure. Our gross income of {$6100.00} can clearly afford the mortgage payment
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92337
Submitted Via: Web
Date Sent: 2021-12-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-15
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have been on a covid forebearance since XX/XX/XXXX with XXXX mortgage and then on XXXX this year the file was transfered to XXXX XXXX. I was offered a deferal at the end of the covid forebearance period and upon transfer, I was told by XXXX and confimred by Select Portfolio Servicing that they would honor the deferal at the end of the final period which was XX/XX/XXXX. I sent the documentation they requested from XXXX. Now Select Portfolio Servicing is stating that the investor does not want to honor this and they want to me to go through a retention review process. I was told the deferral would be automatic.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 330XX
Submitted Via: Web
Date Sent: 2021-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Escrows are inflated due to erroneous calculation of property taxes. Tax rate on XXXX XXXX XXXX XXXX MA XXXX is valued at {$190000.00} with an effective tax rate of {$17.00} per thousand with an additional {$50.00} for a preservation fee which equates to about {$3400.00} for the XXXX to XXXX tax year. In the recent past consumer has made attempts to have XXXX XXXX XXXX XXXX XXXX # XXXX fix the problem but instead of resolving matter XXXX did transfer mortgage immeddiately to Select Portfolio Servicing LLC Account # XXXX with the over-inflated escrows and the matter remains unresolved. Presently escrows are being calculated close to {$4700.00}. To resolve the matter consumer did pay water bill which had been previously liened on the taxes creating the problem. This information has been consistently communicated to both mortgage service, XXXX XXXX XXXX XXXX and now to SPS servicing with no resolution efforts. I prior statements made to CFPB SPS claims they have not been able to contact the tax authority ( town of XXXX ) and stated " Based on the information available, the third and fourth quarters of XXXX were not yet calculated, and can not be provided at this time. However, the taxes were all paid current as of the date of this letter, and there was no risk of a tax sale. The escrow amounts were established by your prior servicer with an effective date of XX/XX/XXXX. " ... Attached please find the property card that contains all the information needed for the tax rate and valuation yielding a XXXX to XXXX tax bill of {$3400.00} and also attached please find a printout demonstrating a payment of {$1500.00} ( representing water bill which was liened on taxes ). Had water not been liened on taxes XXXX XXXX to XXXX the tax escrows would be {$3200.00} based on the that calendar year.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 010XX
Submitted Via: Web
Date Sent: 2021-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-15
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I filed a disputed in regard to the items on my credit report. It has been well over 30 days, and I have not received any investigation results.
Company Response:
State: PA
Zip: 19131
Submitted Via: Web
Date Sent: 2021-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-14
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: Florida governor has made a referral to the Florida Department of Revenue for possible tax fraud. The Florida Department of revenue is out millions on intangible & stamps taxes since 2008. Lenders have been evading taxes due on the loan modification increase in the billions nationwide. This is the biggest tax evasion scam ever by financial institutions, Select portfolio is one of them. When regulators walk into your places of business and ask to see your loan modification files from 2008 and forward I know we are going to find jackpot. BTW, if you record the loan modification the FBI will come after you for public corruption. you illegally recorded the loan modification on an unrelated case and the matter is being investigated. XXXX XXXX not accept loan modifications not notarized, why? because they required the original notarization. The loan mod reflects it was not notarized therefore you are barred from recoding it. Select portfolio you are a fraud and should not be in business.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-14
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/2021, I called Select Portfolio Servicing to confirm my Request for Mortgage Assistance was received, and a rep confirmed it was received and it would take 1-2 business days to review. At that point, the point of contact for my loan was XXXX and the customer service representative requested him to give me a call to review my file. On XX/XX/2021 I called Select Portfolio Servicing and a representative said she had no Notice of Default on file and I requested a call again from my point of contact. On XX/XX/2021 XXXX called back and said that there is a Notice of Default on file as of XX/XX/2021 and my loan is in active Foreclosure. XXXX stated that they would review my account for a modification if I submit a Request for Mortgage Assistance application and a hardship letter. On XX/XX/2021 I resent the Request for Mortgage Assistance application to Select Portfolio Servicing and a representative sent an email to my relationship manager requesting that I receive a call back. On XX/XX/2021 I called Select Portfolio Servicing and they said that my Request for Mortgage Assistance application was received on XX/XX/2021 and that the packet was complete and no additional documents were needed, and that they will notify the borrower of a decision within 30 days. On XX/XX/2021, I called Select Portfolio Servicing and a representative said no documents are needed and their underwriters are still reviewing the mortgage assistance application and they will have a decision within 30 day. I requested Net Present Value ( NPV ) documents to be sent to me. On XX/XX/2021, I called Select Portfolio Servicing and they informed me that I was approved for SAME repayment plan. I requested a copy of the documents for review. On XX/XX/2021, I called Select Portfolio Servicing, and they reiterated the repayment plan which is {$3100.00} which is double my mortgage payment. My Point of Contact is now XXXX and I requested a call back from her. On XX/XX/2021, I called Select Portfolio Servicing and they said that the modification was denied due to a failed NPV test. I re-requested those values as they were never sent to me. On XX/XX/2021, I asked for the loss mitigation supervisor, the representative said they can not transfer me, but they would send a message to them to call to call me back. On XX/XX/2021, I called Select Portfolio Servicing due to no call back from POC, the representative reviewed the NPV documents as Select Portfolio Servicing did not review my hardship or income and they failed the NPV test without calculating the allowed interest rate and payment reduction. The representative could not transfer me to my Point of Contact and couldn't explain why NPV was failed. I stated that the proposed evaluation from Select Portfolio Servicing shows that the allowed interest rate is 2 % with an allowed payment of {$1000.00}.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33470
Submitted Via: Web
Date Sent: 2021-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-15
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: To Whom it may concern, With SPS as our loan servicer we had kept up with our house payments until XXXX of XXXX. At that time due to company layoffs and loss of income just prior to that we were unable to keep up with our house payments. While we tried to work through this with SPS, after 3 months they refused to take any house payments. We had made several attempts with SPS to get a Loan Modification with no success. SPS continued to refuse to work with us at any level or take any house payments through the years when while trying to get new jobs and to get back on our feet. Our home has been in and out of foreclosure multiple times over the next few years while SPS has continued not to want to work with us. In XX/XX/XXXX SPS offered a retention option of a 12 month repayment plan with a balloon payment due at the end of the 12 months. We accepted this offer and made all scheduled monthly payments due on time but were unable to make the balloon payment. These payments were nearly double the amount of our regular house payment. We reached out to SPS to try to renegotiate a new or continued repayment plan, but we were denied. Beginning XX/XX/XXXX a Covid19 Forbearance was put into place. This Forbearance along with XXXX XXXX continued through XX/XX/XXXX. Covid19 had and is still having a profound effect on our financial situation. Our home based business was forced to close and we lost extra income we had created by renting an extra room. Documents that SPS have provided per our request contain many errors and incorrect information, such as incorrect amount of our monthly income. The document shows us having XXXX dollars of monthly income. The deed of trust has XXXX listed as the lender. XXXX is not the current lender but there is no filing of deed of trust by the foreclosing lender. The principal amount due is incorrect. We last submitted for help on XX/XX/XXXX and where denied on XXXX-SPS never even gave us a fair review submitted a XXXX Denied the following XXXX-NO REVIEW!!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CO
Zip: 80631
Submitted Via: Web
Date Sent: 2021-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-14
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: Select portfolio, XXXXXXXX XXXX, and their legal team are in a world of trouble. An investigation its on the way surrounding public corruption by the XXXX XXXX XXXX Florida ( DOJ ). On XX/XX/XXXX, my legal counsel filed motion for summary judgment against the bank. We argued in ur motion that the bank failed to pay the required intangible & stamps on the loan modification containing ( new money ) and therefore are barred by Fla. Stat. 201.08 ( 1 ) ( b ), 199.282 ( 4 ), from having any enforceability in any court room in this state. Select portfolio did the unthinkable and recorded the instrument illegally on XX/XX/XXXX. XXXX ( Recorder ) will not accept loan modification that are not notarized. XXXX requires the original document for filling. The instrument reveals it was not notarized therefore can not be original but a copy. You have engaged in corruption with the XXXX XXXX which warrants a CRIMINAL INVESTIGATION INTO YOUR ORGANIZATION BY THE DOJ. " No good deed goes unpunished '' don't ever forget that. Whom ever participated may face criminal indictments that includes your lawyer. Your lawyer should also know that they opened a can of worms. A mortgage fraud investigator has reveal to the DOJ and the Florida Department of Revenue that billions are owed in intangible & stamps on loan modifications containing ( new Money ) that were never recorded which means that states across the United States are losing millions since XXXX by these financial institutions. he just made a bid to the DOJ to pay a visit with regulators at your places of business and review loan medications since XXXX and forward. Among the list : XXXX XXXX, XXXX XXXX XXXX, XXXX, XXXX, Select Portfolio and others. XXXX executives, I am speaking directly at you ... .and you should know that the mortgage fraud investigator who revealed the unlawful recording of the instrument in this case, is the same investigator that was involves in the case of XXXX XXXX XXXX XXXX XXXX XXXX which you lost to the XXXX XXXX court of appeals case no. XXXX. He is fully aware that you refiled the foreclosure action. He is going to reveal how you engaged in a forgery.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33176
Submitted Via: Web
Date Sent: 2022-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-12-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I would like to file a follow up complaint in regards to Select Portfolio Servicing 's ( SPS ) 12 page response to my original complaint, on XX/XX/XXXX. I was told by SPS that I would be continually given repayment plans, and/or, a loan modification until my loan was brought current. Over the last four years I have paid over {$100000.00}, on time, to SPS for a home that I originally purchased for approximately {$130000.00}, not including 12 years of mortgage payments prior to that. After completing my fourth repayment plan in four years I am being told there is a balloon payment of approximately {$39000.00}, which was not on the original repayment plan they sent me on XX/XX/XXXX. SPS has sent CFPB a copy of this repayment agreement showing absolutely no balloon payment due at the end, which went from XX/XX/XXXX to XX/XX/XXXX. I recently contacted SPS, I spoke to a representative named XXXX, about this matter. After putting me on hold several times trying to make sense of what was going on with my account, I was told she couldn't figure it out, that a Relationship Manager would call me within 24 to 48 hours, ( which did not happen ), and also she said that I should make a payment for XXXX in the same amount as my previous payment amounts, even though I have no confirmation of a new repayment plan. I am completely confused and at a loss to know what to do or what SPS is going to do about this. It is my fear that after paying over {$100000.00} of repayment plan payments on time, for four consecutive years, I am in jeopardy of losing my home due to misleading information from SPS. They constantly mislead me, changed what they said, and have not kept up their end of the agreement. Since XXXX I have repeatedly requested, and applied for a loan modification, and have been consistently turned down for the past 9 years, with no rational explanation as to why, other than the XXXX Bank will not allow it.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 342XX
Submitted Via: Web
Date Sent: 2021-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A