Date Received: 2021-08-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Select Portfolio Servicing is handling my mortgage, The owner of my mortgage is XXXX XXXX XXXX, as Trustee on behalf of XXXX XXXX XXXX XXXX XXXX XXXX. I'm so confused about the whole situation. I was offered a modification trial. XXXX XXXX. And completed it. I didn't hear anything from SPS after the 3-month trial, I've been in constant contact and keep getting conflicting information from them. about what the mortgage payment and decision would be during.the trial period I paid $ XXXXNow things have escalated to a Loss Mitigation Program demanding {$1600.00} beginning XX/XX/XXXX until XX/XX/XXXX. SPS stated that I only qualify for a repayment plan, due to the delinquincy of my account, and that the owners of my mortgage XXXX XXXX XXXX XXXX, as Trustee, in Trust on behalf of XXXX XXXX XXXXe XXXX XXXX. Has not given SPS Contractual authority to modify my mortgage That I was under the impression of being in a trial modification earlier in this year.. My income was not required nor considered as a part of the evaluation. which is a first to me. According to SPS the market value of my house is {$59000.00}. At the present time, I'm underwater with a balance of over {$120000.00} I have statements showing payments due XX/XX/XXXX for $ XXXX {$820.00}, that's included in bringing the loan current. At that time SPS had me in a trial modification making a different payment amount. That I paid {$700.00} so how would those amounts even be included for repayment. Also, I have paid numerous principle and interest payments but my balance keeps increasing. I'm very confused I don't even know what kind of loan I have.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 63136
Submitted Via: Web
Date Sent: 2021-08-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XXXX Contacted by Select Portfolio Servicing Inc. ombudsman dept about a repayment approval XXXX New review opened requesting documents ; I submitted them on XXXX before receiving loss mitigation denial letters XXXX I initiated a third party call with a HUD counselor who witnessed SPS ombudsman stating that they would have to cancel any open loss mitigation reviews and remove any existing protection I felt helpless because prior to XX/XX/XXXX XXXX ; there were no specific details about any loss mitigation denials outside of the investor not extending a COVID forbearance ; the denied this because a conclusion of " income '' determined the denial. This is very unclear because I never denied receiving income. My hardship letter expressed how my medical expenses and distressed home repairs disrupted my budget to have money free for the mortgage. XXXX Third party call details included " an in-house repayment plan '' that had to be approved. Different parties like the staff changed the terms on each call like removing protection. I thought the department was already clear on what I qualified for before discussing this plan. The only option given was a six month plan appears to be a setup for failure and foreclosure. I don't feel like SPS was trying to help me save the home with an affordable plan. For example, during the six month plan on the sixth month they want a total to equal two monthly plans. XXXX after hours ; letters were generated. It was odd because I could see the title of the document " awaiting decision letter '' but it was not available until after midnight with a " denied '' decision.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 206XX
Submitted Via: Web
Date Sent: 2021-08-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-17
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have been trying to modify my loan with my mortgage company for 1 year due to the covid 19 pandemic. The company SPS keeps asking for documents that have been sent to them many times. They call 3-4 times a week asking for money even though the home was in forebearance and I have asked for a modification for 1 year! My interest rate is 6.7 percent and my mortgage payment is XXXX a month! This is astronomical and unrealistic in a pandemic that is going to continue for many more years. Im am extremely frustrated with SPS servicing. They continue to ask for documents sent one year ago and never make a decision on the loan modification! In fact my payment went up XXXX $ This month ( XXXX ) now they want XXXX! Im at my wits end with this company, I am affected physically and mentally by the constant phone calls, stress and now just last week I got a mysterious phone call from a man named MrXXXX XXXX at XXXX XXXX XXXX. XXXX XXXX XXXX NY Who says to me he must come in my house and inspect it. He gave no name of the company he was working for, gave no specific reason he needed to come in to my house. I demanded to know who he was, why he needed to get into my house and to state his official title and company. He kept refusing to give me ANY information. This phone conversation went on for 15 minutes of him insisting he get in my house. Ofcourse I did not agree to a stranger who wants to inspect my house with no proof of who he is or why he wants to get in the house. His final answer was my maybe my file came across his desk today, and maybe someone put it there. He still refused to give me any information on himself or as to who asked him to call me. Playing this game with me he got no where. I later XXXX this individual and he is a real estate broker in the XXXX. Is this part of my mortgage service company who is Select portfolio Servicing attempts to gain access to my house for a foreclosure appraisal even though I made a payment this month. If so is this legal? Or is this a criminal trying to gain access to my home? If it is the mortgage servicer attempting access my home then thats really outrageous the approach they take. In fact its unscrupulous. Im extremely scared of whats happening with my mortgage servicer and their practices. There is a corporate disconnect or an outright ignoring of my request for negotiation. Like many Americans my equity in my home is my life savings, I have nothing else! This pandemic, Its been a disaster for me and my family. If i cant get this loan modified Ill loose everything! Im XXXX years old mother of XXXX and this is my lifes savings the equity in my home. Interest rates are at 3.00 % New homes are selling at astronomical prices. So now these Mortgage companies will try to sell foreclosure houses at double what they are worth at the expense of families being displaced and their homes being occupied by new buyers with a 3 % interest rate. Hard working people are being extracted out of their homes by these mortgage companies. In a global pandemic that will go on for many years to come, with the delta variant exploding the government needs to take swift action against the unscrupulous mortgage companies and their practices. Wouldnt they want families to stay in their homes for the long haul and reduce the interest rates to make it affordable. Make it the law to reduce everyones interest rate to 3 % during this financial hardship. I do not understand why this Select Portfolio Servicer will not work with me to reduce the interest. Covid 19 ALM This is what I found on HUD website COVID-19 Home Retention Options A Trial Payment Plan ( TPP ) is not required for a Borrower to be eligible for COVID-19 Loss Mitigation Options. ( A ) COVID-19 Advance Loan Modification ( 1 ) Definition The COVID-19 ALM is not incentivized. ( 2 ) Eligibility The Property may be owner-occupied or non-owner occupied. The Borrower must be 90 or more Days Delinquent. The Mortgagee must review eligible Borrowers for a COVID-19 Advance Loan Modification ( COVID-19 ALM ). A COVID-19 ALM is a permanent change in one or more terms of a Borrowers Mortgage that achieves a minimum 25 percent reduction to the Borrowers monthly Principal & Interest ( P & I ) payment that does not require Borrower contact. A 30 year loan modification at the most recent XXXX XXXX Weekly Primary Mortgage Market Survey ( PMMS ) Rate rounded to the nearest one-eighth of 1 percent ( 0.125 percent ) will achieve a minimum 25 percent reduction in the Borrowers monthly P & I How come SPS did not tell me about this Covid 19 ALM? I
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CT
Zip: 06513
Submitted Via: Web
Date Sent: 2021-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-17
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Good Afternoon, My account has fallen deliquent because of covid 19 the pandemic and my servicer is Select Portfolio Servicing my account number is XXXX they would not work with me they tried to give me a payment plan of almost XXXX a month i can't afford that during a pandemic, how can they advertise " if you have been impacted by covid 19 we are here to help '' and then slap you with a years worth of interest and a payment plan double your normal payment, how is that helping?. I have asked them if they would waive the year long interest that accrued on the account due to the pandemic and I would refiance my property for XXXX that is all i can get to do so and that is all i would generally owe if I wasn't affected by covid, I tried to go to places that had mortgage relief funds from the cares act but they told me there was no more funds. How can Select Portfolio sit there and say they are willing to help their customers when they are not willing to waive the interest that accumlated on the pause of the payments, if the governor is going to allow the mortgage payments to be paused during a pandemic then they shouldn't charge the interest during that time either, Can the CFPB help with getting this resolved this should not be allowed, I want to pay my mortgage off with a refiance and pay exactly what I would owe them pre covid which is XXXX can you help
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 23188
Submitted Via: Web
Date Sent: 2021-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: So sadly my Father passed away. He had 3 account with SPS, all 3 are mortgages, they got wind of it and decided to stop his pandemic assistance on the loans. NOW they are making it extremely hard to get me added to the account, we have sent in the Death certificate as well as the will showing me as the successor, they will NOT add me to the account so I can reinstate the pandemic assistance. I feel like they WANT us to fall into default here.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CT
Zip: 06854
Submitted Via: Web
Date Sent: 2021-08-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-16
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Select Portfolio Servicing has committed fraud in state and federal courts and the Commissioner of Financial Regulation a state of Maryland agency.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 20744
Submitted Via: Web
Date Sent: 2021-08-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: i dont know where that XXXX reinstatement fee comes from on aXXXX loan that was15 ye ars old and i like to know who the trustees and attorneys names in this
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TN
Zip: 372XX
Submitted Via: Web
Date Sent: 2021-08-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The mortgage company ( Select Portfolio Servicing , Inc ) wrongfully put forced placed insurance on the property when there was an active policy. They were well aware that the property had an active insurance policy. After months of attempts to get them to remove it they finally did but refused to remove the charge on escrow. We have had a lawyer hired to resolve this matter but they refuse to remove it. ( {$7500.00} XXXX We had notified them months ago that we wished to pay off the loan and unfortunately we have had to pay interest for these months due to the delay caused by these improper charges. ( 6 months ) We filed a CFPB complaint ( XXXX ) and they responded giving incorrect/false information stating that the XXXX policy lapsed in XX/XX/XXXX when in in fact there was an active policy until XX/XX/XXXX and a new policy active right when that policy expired with no Lapse. ( please see attached insurance dec pages for XXXX & XXXX. ) We, Our lawyer and insurance agent have provided both policies to the Lender multiple times. The Attorney send multiple letters and communications to the Mortgage company. Now I've been forced to file a second complaint because they gave incorrect/false information to the CFPB when the policies clear show there is not lapse in coverage. I am attached the declaration pages to show that there was not lapse in insurance.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33155
Submitted Via: Web
Date Sent: 2021-08-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Dear, CFPB representative my name is XXXX XXXX I am on SSD. I live at XXXX XXXX XXXX. My family ( my XXXX and two grand children ). and I were effected by covid-19 this was a hardship. my XXXX lost employment and had to stay with me from XX/XX/XXXX to XX/XX/XXXX. I fell behind on my mortgage the servicer Select portfolio Servicing acct # XXXX I requested mortgage assistance and forbearance was given for three months. i had to file Bankruptcy and now I am facing Foreclosure. I request mortgage retention ( Principal reduction ) I get {$1500.00} in SSD and I have a room rented at {$500.00} a month. the Servicer stated there is no modification or retention available. Can I recieve mortgage relief from American relief due to covid -19? or Reduction in mortgage so I wont be homeless. prior to covid -19 I purchased home in XXXX at {$230000.00} put {$46000.00} down bring mortgage to {$180000.00}. I was locked out of home for three years in XXXX a ZOMBIE FORCLOSURE the mortgage was {$170000.00}. in XXXX Select portfolio added three years of mortgage to the end of loan bringing the term to {$310000.00} which included a {$650.00} escrow monthly payments of {$1300.00}. now I owe {$320000.00} on this mortgage. I was denied modification and retention XXXX XXXX. please help me stay in my home I am american I worked 25 years and now XXXX on a fixed income I just dont want to be homeless. can you contact them to see if a Principal Reduction can happen/ help?. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, PA XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 183XX
Submitted Via: Web
Date Sent: 2021-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-08-13
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: Dear Sirs : Ive been with SPS since XXXX and have made payments online for that same amount on time. Since Covid-19 began, Ive noticed that in XX/XX/XXXX, SPS advertised a mortgage relief program for people who were affected with COVID-19 Assistance to the borrower on your SPS website. In XX/XX/XXXX, I was laid off due to COVID-19. I specifically asked for a COVID Relief Assistance because I was laid off due to COVID-19. I was told I was approved for the COVID-19 Forbearance program and would pay {$390.00} a month, which I have paid on time. I started payments on XXXX of XXXX of XXXX. I have disputed this with SPS many times and I get no where with them. They are purposely ruining my credit, showing late payments, so I can not refinance. I am being held hostage! They are lying to the credit companies and telling them my payments were late and they were not. I accepted that offer of assistance. However, now that Im trying to refinance. I ran my credit report and I found that I am 4 months behind. Which first of all, violates what I was promised. I was reported late. Second, I spoke to representatives, XXXX and XXXX. They confirmed that I am in a COVID-19 program. I should have NOT been reported as " late payment '' to the Credit Bureau because I was affected due to COVID-19. I would have never done this program if you had told me that I would be reported to the credit bureau. Finally, SPS is receiving government funding. As a requirement of receiving this funding, you are not to report the forbearance or any late payments! In my letter requesting this, I even mentioned that this was due to COVID-19 and I can use this as evidence. They have broken the agreement. I want to report this to the Attorney General, to Customer Financial Protection Bureau, and to the Federal Bureau Investigation, to have them investigate whether or not SPS has broken any federal laws. I have contacted XXXX, XXXX XXXX XXXX ) and many other managers at SPS and have agreed with me that this was a COVID forbearance and should have never been reported to the credit bureau. Your website even says you will not be reported. I have seen the written complaints that others have with SPS and I am thinking of getting an Attorney to start a CLASS ACTION LAWSUIT against SPS. You have caused many other home owners stress and anguish! XXXX XXXX XXXX XXXX XXXX Thank you very much for your help and please contact me with any questions. Sincerely, XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 95136
Submitted Via: Web
Date Sent: 2021-08-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A