Date Received: 2021-04-09
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Due to covid, my spouse and I suffered reduced hours and also job loss, so the mortgage company allowed us to go into forbearance XX/XX/XXXX, with an end date of XX/XX/XXXX. We then contacted them to get the additional 3 months forbearance that the Cares Act provided, since this would help us tremendously. The only option they gave us was doubling up our current mortgage amounts to {$3400.00} monthly beginning XX/XX/XXXX, and lasting for 12 months to bring the mortgage current. We contacted them to say, doubling the payment that we already had difficulty paying would lead us down the path to foreclosure. They also said they can not offer a remodification, and this is all they can do to help us. While in discussion with their representative, she told us to consider liquidating our home, after we told her we are raising our XXXX children here and we do not want to lose our home. We advised that we have many other bills and responsibilities that we have to keep up with, along with the mortgage but they are just not willing to offer any other resolution. Please assist us in resolving this matter.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 183XX
Submitted Via: Web
Date Sent: 2021-04-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-08
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I am in the process of refinancing my 1st loan and must close escrow at the end of XXXX. My loan with SPS is my 2nd therefore I need to get a subordination. I started the refinance process in XXXX and in XXXX my lender repeatedly reached out to SPS in regards to the subordination but never got a response so they asked me to contact SPS. In early XXXX, I reached out and SPS sent me the list of requirements for the subordination package. OnXX/XX/XXXX, my title company sent in all the requested info. As of today, I have not heard from SPS. I called a couple of times and have been given varying information ranging from " there's no new entry in your account '', " it normally takes 30-45 days '', " there are no timeline requirements '' and " unfortunately it can take a long time ''. I told them that I just wanted to confirm that the request was being worked on and what date it was received but I was told that the received date was irrelevant ( as it wasn't looked for or found ) and that yes it was being worked on ( although it wasn't checked '' ). I previously spoke to an ombudsman, XXXX, regarding another issue with a " lost '' Note and I mentioned to him that I was in the process of submitting a subordination packet and he had advised me that once it was received it would take up to 14 days to process and return. At this point, I just feel helpless as I have not been able to get any type of real answers. I have had several issues already including a lost and unaccounted for payment when this loan was first transferred to SPS and also a Note that could not be located. The Note was needed as part of my refinancing and there was a delay of more than a week before SPS finally found my Note.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94044
Submitted Via: Web
Date Sent: 2021-04-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mom received, by mail, a Servicing Transfer Notice dated XX/XX/XXXX stating that XXXX loan was being moved to Select Portfolio Servicing, Inc. XXXX SPS ) on XX/XX/XXXX and that this transfer does not affect any of the terms of her thought to be 30-year mortgage loan. She later received a Notice of Maturity Date-Final Payment Due letter dated XX/XX/XXXX from Select Portfolio Servicing , Inc. Stating that if all due amounts on this account are not paid in full on or before the Maturity Date ( XX/XX/XXXX ), the property listed, XXXX XXXX XXXX XXXX XXXX NY XXXX, will be at risk of foreclosure. It was also stated that they will no longer accept monthly payments that are less than the full payoff amount on or after the Maturity Date. This is clearly a bait and switch tactic assuming that my mother who is elderly at XXXX XXXX XXXX would not review the fine print as they attempt to trick her out of her home. I was under the impression that XXXX was a reputable company and would assist but I am unclear who switched out the policy on my mother as they were never clear and transparent in their actions and never took the time to carefully explain anything to my mother which is unfair she is retired an would never be able to assume or pay the mortgage balance and given that fact should have never been unknowingly duped into this the terms of repayment were never explained to her limited understanding at her current capacity and was never agreed upon. I am hoping that someone can investigate this incident to ensure that other elderly citizens that we should be protecting aren't being stolen from for capital gain. My mother 's name, XXXX XXXX, her home was purchased on XX/XX/XXXX, XXXX she was unaware that this was a 15-year Balloon Disclosure, and i was unaware as well. I am not listed on any paperwork as authorized, but I now handle all mortgage business for my mother by phone after her verbal approval I wish I had noticed the game of three card monty the bank has been playing with my moms life sake, she has never refinanced or tried to sell she was just trying to live out her days in her actual home Un intruded I am hoping that someone there is able to help my mom from being thrown out on the street during Covid, she always pays her mortgage and planned to continue doing so until this sham took place. Please feel free to reach out to me for any more information I may be able to provide XXXX XXXX ( Daughter ) XXXX loan # XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 11701
Submitted Via: Web
Date Sent: 2021-04-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-07
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Back on XX/XX/XXXX when the pandemic started my husband and I lost Our Job. I needed assistance regarding putting my payments on hold. They put my account on forbearance. I requested if my payments that I missed could be put in the back of the loan. I had to supply them with documents which I provided with everything They requested. They also requested my awards letter stating that I was unemployed from XX/XX/XXXX to XX/XX/XXXX. They wouldn't accept the letter because according to SPS my unemployment expired after XXXX weeks which was not the case. I still had money in my account because I was also working part-time and collecting partial unemployment. I even contacted unemployment to see if they could provide me with another awards letter ( determination letter ) They told me that they don't understand why SPS is giving me such a hard time because it literally states on the determination letter that they already had says everything. Unemployment can not change the date of when I'm entitled to my unemployment. It goes from year to year. They gave me such a hard time because they insisted on this letter that I could not provide because I already provided them with one. The reason why my unemployment went beyond the 22 weeks that they are talking about is because I worked part-time and collected part-time and at times I did not collect any unemployment because I made more money at my part-time job because I put in more hours so those 22 weeks was extended to approximately 7 months. I don't know what else to do and I do not want to lose my house but they are not willing to work with me. All other creditors that I've been dealing with if I didn't make any payments any unpaid balance they applied to the end of my loans but SPS refused to do that now causing me to be in default and possibly losing my house. If you have any questions regarding my complaint I can be contacted at XXXX. Thank you XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 08527
Submitted Via: Web
Date Sent: 2021-04-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-07
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I had XXXX as my mortgage company and when XXXX hit last year, my husband and i both lost our jobs, so we couldn't come up with the mortgage payment since we were both unemployed. I called XXXX and they had a program to defer the payment for 3 months and then i was able to extended for 3 more months. According to XXXX, the months i missed are suppose to be added to the end of the loan. Few months down the road, my husband went back to work and we start the payments again on our mortgage but every time i paid the money got applied to the oldest month open! In the meanwhile, Select Portfolio Services took over the financial side for XXXX XXXX and they start asking for the full amount that i was behind on about XXXX k, i told them it was suppose to be added to the end of the loan and they denied that. I did not have anything in writing from XXXX, since it was an automated system that let me defer the payment for 6 months or so. Now i have been going back and forth with Select Portfolio Services to try to resolve the issue with them, they told me they will review my account with the underwriters and let me know! they requested some documents, like paystubs for my husband and W 2 and employment verifications etc and i feel like this is been taking forever and ever. I need to refinance my mortgage and this is kind a in my way, because on the statement it shows that i am behind and i owe XXXX k even though i have been paying every month. please help me resolve this issue with them. thank you
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NH
Zip: 03079
Submitted Via: Web
Date Sent: 2021-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-07
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My attorney, XXXX XXXX, XXXX. has offered Select Portfolio Servicing ( SPS ) a short payoff amount of {$1.00} XXXX of what is owed. She has presented proof of funds from the buyer whom I am selling to. More than one year later, SPS has not presented a payoff letter. The representatives have been hateful to Attorney Gross and her paralegals. SPS representatives are hanging up on her staff rather than giving Attorney Gross an answer on the status of a decision. Secondly, SPS has requested the same paperwork over and over again for a year. Usually after 90 days, SPS will send me a letter claiming that the submitted documentation is insufficient to decide on a decision. Note that SPS is requesting the same documents I had already sent. Next, representatives have made such comments as " we will wait to you go into foreclosure because SPS will get more money. Next, I received a letter encouraging me to do a " short sale '' -- which means SPS would accept a substantially lower amount from a stranger than my {$1.00} XXXX offer.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-06
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Per complaint # XXXX on XX/XX/2021 and final remarks received XX/XX/2021 reveals hud-1 and purchase contract did not show {$49000.00} and contract not signed. This documentation was initially submitted to XXXX in the Ombudsman department a month ago by email. I am forwarding the information again. Please see attachment.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 60617
Submitted Via: Web
Date Sent: 2021-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-06
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I fell behind on my mortgage payment XXXX due to covid19. On XXXX, I applied for assistance with my mortgage company and on XXXX was denied for all options that allow me to keep my home. I was denied for a repayment plan because they say I can't afford it. I was denied a loan modification because they are unable to lower my principal and interest payment. This global pandemic has caused a hardship that would otherwise never have happened and caused a default that otherwise would never have occurred. To require that I come up with all mortgage payments at once or move out of my home while we are still in the pandemic is extremely disheartening.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 206XX
Submitted Via: Web
Date Sent: 2021-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-06
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have worked with Select Portfolio Servicing since the onset of COVID regarding my traditional mortgage. XXXX XXXX is the investor. Our family has been seriously and negatively impacted by Covid 19. My husband 's company is in the XXXX XXXX and his earnings were seriously altered because of the lack of travel due to the pandemic, and I lost one of my two jobs significantly impacting our ability to pay our mortgage. We have been in constant communication with the mortgage company the whole time. Initially our loan was placed in forbearance. During the forbearance period we communicated with several representatives of the lending company in order to work out what the next steps would be. We repeatedly spoke with them asking for assistance and tried to make sure that we would not be put into a situation in which we would have to pay a balloon payment at the end of the forbearance period or be forced into a repayment plan that was unaffordable. On XX/XX/XXXX, we had an extensive conversation with an SPS representative named XXXX regarding the next phase of the program they were asking us to sign. We were offered a 4 month payment plan of {$1000.00} per month. At the end of the plan ( in XXXX ), the paperwork called for a balloon payment, which was the specific nature and subject of our call. We repeatedly asked for assurances from the SPS representative that we would NOT have to make an unaffordable balloon payment ... that some other option would be available to us to remain in our home. We asked repeatedly if we would be able to extend our existing loan, under the current payments, to include the unpaid balance. XXXX stated emphatically that those options would be available to us, and there was no way we would be forced to pay the balloon. He even said the law would prevent SPS from enforcing the balloon payment. We have the entire conversation on tape, and have included that for your review. Beginning in XXXX, we started reaching back out to SPS to understand our options per the previous plan. We went through another lengthy review, submitting new documents etc. We made clear that we were able to resume making our mortgage payment. Instead we were denied all assistance or workout options in XXXX of XXXX. We were told that we must either pay the balloon or our house would go into foreclosure or short sale. This is in direct contradiction to what they told us would happen and in bad faith. We have filed an official appeal with SPS and included our appeal letter as an attachment. Put simply, the point of these programs was to give homeowners effected by COVID a little breathing room to reorganize their finances, find new jobs as possible, and return to their mortgage payments. The simple intent is to keep homeowners in their homes. We were severely impacted by COVID. We reorganized our finances in XXXX, as we told SPS we would, and are now prepared to resume our mortgage payments and stay in our home. The program was designed for people like us ... and it worked. Instead, SPS is threatening to throw us out if we don't come up with our entire deferred amount. What a cruel and tone deaf response. We have engaged XXXX XXXX as a a HUD approved counselor ( we found her through CFPB ). She is active on this issue and also insists that SPS and XXXX XXXX are acting in bad faith. It is my sincere hope that they return to their senses and simply start to accept the {$5100.00} mortgage payments we have resumed sending every single month.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: UT
Zip: 840XX
Submitted Via: Web
Date Sent: 2021-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-05
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We entered into a forbearance plan last year that SPS was offering due to covid. We made some payments during the plan but owe XXXX dollars. We applied for help in XXXX of this year and submitted all the documents they requested. On XX/XX/XXXX we recieved a letter of denial for all there programs. I'm not sure what to do now. I was under the understanding they were going to help people at the end of the forbearance to get back on track. What is the purpose if your expecting full payment of all money at the end of a forbearance. How is this helpful. I thought this was helpful of the company, but in the end I could lose my home of almost 24 years. You can't speak to anyone in authority. I've asked for a supervisor or manager while going through this process and was told they were looking at the paperwork but I never spoke to anyone other than the people that answer the phones. They just say they don't make the decisions. Please help me figure this out. I don't want to lose my home. I could try to make a larger then normal payment but I don't know if it would help in the end.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 125XX
Submitted Via: Web
Date Sent: 2021-04-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A