Date Received: 2021-01-03
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX transferred my mortgage in the middle of a payoff. I have an open complaint against XXXX for them creating a shortage, not posting my payoff, then taking 15 days to get funds to SPS, the new servicer. This complaint is on SPS. On XXXX, SPS was to take over servicing of my mortgage. However, on XX/XX/XXXX, it was paid off by XXXX XXXX. I was due an escrow refund of around {$3000.00}. SPS did not board the loan to their system until XXXX and did not process the payoff until sometime in XXXX when XXXX XXXX finally got them straight on what happened. In the meantime, XXXX XXXX issued the refund on the double payment of taxes to XXXX, who instead of sending it to me sent it to SPS. SPS has yet to issue a refund to me despite XXXX XXXX even paying them a {$300.00} 'shortage ' created by XXXX initial fumbling of the payoff. It is now XX/XX/XXXX, over two months since payoff and I have still not got my refund. In addition, SPS servicing reported this as a 'new ' account on my credit reports which has caused my insurance score to drop for the recent 'addition ' of a new account. The balance is XXXX now, but apparently this isn't taken into consideration. This whole thing is a giant mess and I'd like help reporting this to all legal entities who should be aware of the shoddy practices these two servicers are engaged in.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 98422
Submitted Via: Web
Date Sent: 2021-01-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-02
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX, via US Postal Service, we received a Payoff Statement from Select Portfolio Servicing , Inc. ( SPS , Inc. ) dated XX/XX/XXXX with an incorrect payoff balance. SPS, Inc. indicated on this Payoff Statement that the unpaid principal balance was {$180000.00} and the payoff balance was {$200000.00} with an expiry date of XX/XX/XXXX. SPS Inc. 's reported unpaid principal balance of {$180000.00} on their Payoff Statement was incorrect which made the reported payoff balance grossly inaccurate. This meant that SPS , Inc. 's Payoff Statement was in violation of section 12 C.F.R 1026.36 ( c ) ( 3 ), and their reported unpaid principal balance was a covered error under section 12 C.F.R 1024.35 ( b ) ( 6 ). According to the agreements between us, and to which the company has a fiduciary obligation, the correct unpaid principal balance on XX/XX/XXXX was {$91000.00}. This correct unpaid principal balance of {$91000.00} was determined from and and is supported by the following evidence, which is overwhelming : Loan Agreement and Deed of Trust between us and the company and by the loan servicer transfer from XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX Loan Amortization Table from SPS, Inc. dated XX/XX/XXXX, Loan origination and maturity data from all SPS, Inc. 's published monthly statements, and SPS , Inc. 's published on-line customer dashboard and payment history reports Furthermore, SPS, Inc. 's incorrectly reported unpaid principal balance of {$180000.00} on their payoff statement corresponded to the balance recorded on the Loan Amortization Table for XX/XX/XXXX, and not the balance corresponding to XX/XX/XXXX, which was the date that SPS, Inc. generated their incorrect payoff statement. In other words, SPS, Inc. 's incorrectly reported unpaid principal balance of {$180000.00} on their payoff statement corresponds to the loans unpaid principal balance when the XX/XX/XXXX installment was applied, which was 24 months ago, and not the correct unpaid principal balance of {$91000.00} on XX/XX/XXXX when they generated the payoff statement. Therefore, SPS, Inc. 's payoff statement is in error under section 12 C.F.R 1024.35 ( b ) ( 6 ) and is in violation of section 12 C.F.R 1026.36 ( c ) ( 3 ).
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92508
Submitted Via: Web
Date Sent: 2021-01-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SPS On a previous complaint dismissed any delays of receipt of mortgage statement to mail delays. The Mortgage statement dated XX/XX/XXXX, which they stated on previous inquiries are mailed out same or next day, was not received until XX/XX/XXXX. This only allowed for 4 calendar days to receive a statement and send out payment by due date of XX/XX/XXXX. The timelines mean that the USPS is taking 13 days to deliver mail from this servicer. All other mailed statements from any other biller do not have this delayed timeline. I believe that SPS is delaying statements in order to increase the likelihood of late payments and increase their servicing profits. While I have not had any late payments due to their actions, their delayed statements are a violation of CFPB rules.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OR
Zip: 97008
Submitted Via: Web
Date Sent: 2021-01-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: 1. An escrow account analysis was done on XX/XX/XXXX and XX/XX/XXXX, when it should have been performed annually. The monthly payment increased is incorrect as of today. Exhibits A and B. 2. Homeowners Insurance Company, XXXX, was cancelled and there was a surplus of {$720.00} mailed to me by check on XX/XX/XXXX. The amount was paid to Select Portfolio Servicing, Inc. on XX/XX/XXXX over the telephone and the {$720.00} was not applied to escrow. As of XX/XX/XXXX, have been trying to get it corrected to have the full amount applied to escrow with a corrected escrow amount, but to no avail. Exhibit C. 3. The escrow amount is incorrect as of today and on all the monthly statements. Exhibit D 4. The monthly statements are all incorrect for balance owed. All monthly payments have been paid as of XX/XX/XXXX to XX/XX/XXXX. Exhibit D 5. The monthly statements that show a past due amount are incorrect. Statements online has incorrect information and Select has not corrected per previous requests. Exhibit D
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30034
Submitted Via: Web
Date Sent: 2021-01-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our mortgage loan was transferred from XXXX XXXX to SPS ( Select Portfolio Servicing INC ). I have always made our payment online. I just made our first payment with SPS online ( https : //www.spservicing.com/ ) and I was charged a {$5.00} fee to make a payment online. I do NOT agree with this charge and I believe it's against the law for a new servicing company to charge a fee to make a payment especially when that payment is made online with no human assistance. Over the life of our loan this would result it more than {$1800.00} in fees. The Fair Debt Collection Practices Act ( FDCPA ) is a federal law that provides limitations on what debt collectors can do when collecting certain types of debt. I believe this fee is unnecessary and I do not agree with it at all.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32164
Submitted Via: Web
Date Sent: 2021-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-30
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I have a court case with the United States District Court XXXX XXXX XXXX XXXX Florida. Please I need your assistance to schedule jointly proposed by parties. Please if you can have a mortgage broker attorney and or real estate attorney to review all the exhibits on file with CFPB including this latest exhibits A, B, C, D, E and F. This is URGENT! Because Select Portfolio Servicing has bad faith practice in improper payments and not applying my mortgage payments to the account also improper escrow/fees and improper lates fees charges. Therefore making my account be falsely delinquent when it is not the delinquent status as stated on mortgage statement. SPS has failed to monitor and apply my payments accurately, they are all over the place they do not know what they are doing. Because I continue to get different improper escrow analysis which is incorrect. Please Im asking the Court or CFPB to freeze this account with Select Portfolio Servicing because they are causing harm to me as the consumer by misleading and misrepresenting my mortgage loan.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33056
Submitted Via: Web
Date Sent: 2020-12-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My loan servicer recently changed from XXXX to SPServicing. I understand that this happens occasionally with mortgage companies. I have been struggling with my payments since COVID started and I was under COVID protection with XXXX, which ends in 2 days. My protection runs out in 2 days. I am 1 month behind in my payments. The new company does not offer any COVID protection. The most troubling thing is that they are charging me a {$15.00} a month fee for making my payment online or over the phone. The only way to avoid the fees is to sign up for direct payments. That is not financially feasible for me at this time. It just doesn't seem legal for this company to charge more to make a payment when they are collecting interest on my payments.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 17011
Submitted Via: Web
Date Sent: 2021-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-29
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Due to the loss of Employment and Covid 19 in 2019, we got behind on our mortgage payments. We are currently approx. {$15000.00} behind. We have been granted a forbearance but now it's expired and my multiple requests for modification have been denied after I've made the last 4 payments reducing the original amount from {$20000.00}.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-12-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-29
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: SPS is showing an incorrect principal balance and over charging me on monthly mortgage payment.
Company Response:
State: CA
Zip: 939XX
Submitted Via: Web
Date Sent: 2021-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-12-29
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: The SPS mortgage servicing company is my mortgage servicing company on my primary residence mortgage ( property located in XXXX, California ). About 3 months ago, I realized that they have two account open for me ( one for XXXX property and another account related to a mortgage in XXXX California ). I told them that I have no property and no mortgage in XXXX California and my only account must be related to the mortgage of property in XXXX. They promised to investigate and eliminate this account from my name. I called them multiple times during the last 3 months. Everything they promise to resolve it but nothing happens afterward. This account seems to be fraudulent and either by mistake or by identity theft is assigned to me. I have talked to SPS company multiple times and submitted request to eliminate this false account via their web site. The SPS company has refused so far to clear the mistake or identity theft. I'm disappointed as it seems like the company is not caring and it is not doing its job properly to rectify the identity theft or mistake They even refuse to give me information about the other account. They keep me responsible for the account but they refuse to give me information about the account!!! This is totally unacceptable. I need to escalate this to the government authorities as SPS is not doing its job properly.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94506
Submitted Via: Web
Date Sent: 2021-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A