Date Received: 2020-05-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Sps loan servicing states they are holding the lien for a defaulted loan over XXXX years old XXXX XXXX XXXX that filed federal bankruptcy in XX/XX/2006 placed a lien on deed in XXXX county clerk of courts in XXXX county florida.the title company used for filing the deed documentation in court was closed about a month after filing the lien XXXX XXXX and abstract the owner was arrested for fraud I don't know if this was valid from the begining or it was written off in bankruptcy court or written off as a bad debt to the IRS sps loan servicing will not disclose any information previous request for validation of debt wet ink sps transaction history fee history corporate advance history transfer from XXXX XXXX XXXX detail transaction history denide by sps loan servicing something is not right with this I believe possible fraudulent practicing please get to the bottom of this
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32065
Submitted Via: Web
Date Sent: 2020-05-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is the 6th CFPB complaint against the fraudster Select Portfolio Servicing ( SPS ), since XX/XX/2020. The fraudster Select Portfolio Servicing ( SPS ) s real business goal is to fraudulently manufacture foreclosure and this is how the fraudster Select Portfolio Servicing ( SPS ) makes money. The fraudster Select Portfolio Servicing ( SPS ) refused to ( i ) respond to the Qualified Written Request ( QWR ) under RESPA and ( 2 ) mail monthly statement, showing how all my payments are applied ; including that the fraudster Select Portfolio Servicing ( SPS ) cashed the XX/XX/2020 mortgage payment from my bank XXXX XXXX via ACH. This company do not send any statement every month. To-date, I have spent {$4500.00} in legal fees. This fraudster Select Portfolio Servicing ( SPS ) is an extremely corrupt company operating like Racketeer Influenced and Corrupt Organizations Act, based on internet inputs from their customers Select Portfolio Servicing ( SPS ) must provide a written statement to the borrower each billing cycle, which is usually monthly. ( 12 C.F.R. 1026.41 ). SPS 's statement must show : the amount currently due, including how much will be applied to principal, interest, and escrow the total of all payments received since the last statement how prior payments were applied transaction activity partial payment information fees or other charges to the account account information, like the outstanding balance and interest rate contact information for the servicer and housing counselors, and information about delinquencies, if the borrower is behind on payments.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92887
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-23
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: During my bankruptcy in 2011 my debt was never reaffirmed by my lender on my home loan by my lender XXXX XXXX who then transferred this loan to SPS Servicing with this action none of my payment history is been recorded on my home loan over the past eight years most lenders dont even recognize me because it doesnt show that I actually have a home loan Thus this has made it impossible for me to refinance or get a different type of loan with a lower interest rate other than the one thats being provided by my servicing company at present therefore im in able to access my equity this has been going on for years
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92867
Submitted Via: Web
Date Sent: 2020-05-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I just spoke to Select Portfolio Servicing ( SPS ) 's customer service and they said they will NOT send my monthly statements, even though it is required by law. This is a Criminal Organization, This is the 7th CFPB complaint against the fraudster Select Portfolio Servicing ( SPS ), since XX/XX/2020. The fraudster Select Portfolio Servicing ( SPS ) s real business goal is to fraudulently manufacture foreclosure and this is how the fraudster Select Portfolio Servicing ( SPS ) makes money. The fraudster Select Portfolio Servicing ( SPS ) refused to ( i ) respond to the Qualified Written Request ( QWR ) under RESPA and ( 2 ) mail monthly statement, showing how all my payments are applied ; including that the fraudster Select Portfolio Servicing ( SPS ) cashed the XX/XX/2020 mortgage payment from my bank XXXX Bank via ACH. This company do not send any statement every month. To-date, I have spent {$4500.00} in legal fees. This fraudster Select Portfolio Servicing ( SPS ) is an extremely corrupt company operating like Racketeer Influenced and Corrupt Organizations Act, based on internet inputs from their customers Select Portfolio Servicing ( SPS ) must provide a written statement to the borrower each billing cycle, which is usually monthly. ( 12 C.F.R. 1026.41 ). SPS 's statement must show : the amount currently due, including how much will be applied to principal, interest, and escrow the total of all payments received since the last statement how prior payments were applied transaction activity partial payment information fees or other charges to the account account information, like the outstanding balance and interest rate contact information for the servicer and housing counselors, and information about delinquencies, if the borrower is behind on payments.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92887
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: This is a follow up to a previous CFPB complaint filed against SPS Servicing. Although they responded they failed to address the issues outlined in the previous complaint. 1. The forbearance period offered for the COVID hardship is for 3 months. The CARES Act requires a 6 month forbearance. The forbearance plan that I attached again does not include any reference to a 6 month period. That is a violation of the CARES Act. 2. I wholeheartedly disagree with the fact that a balloon payment at the end of three months is not a UDAAP violation as it violates the spirit of the CARES Act and has the actual effect of discouraging borrowers from accepting a forbearance ( this is in the best interests of SPS as they can avoid having to pay the P & I payments while not receiving any payments during forbearance ). I am asking the CFPB to provide a ruling on such action as part of this complaint. There are thousands of similar complaints out there and further guidance from the CFPB would ensure this issue is addressed properly. 3. A new item I am adding to the complaint is the failure of SPS to send out a monthly written statement. SPS recently purchased the servicing of my loan from XXXX. At no point did I consent to ONLY receiving electronic statements and there is no option on the online account to discontinue such practice. That is a violation of law without the consent of the borrower.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 60056
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is the 5th CFPB complaint against the fraudster Select Portfolio Servicing ( SPS ), since XX/XX/2020. The fraudster Select Portfolio Servicing ( SPS ) s real business goal is to fraudulently manufacture foreclosure and this is how the fraudster Select Portfolio Servicing ( SPS ) makes money. The fraudster Select Portfolio Servicing ( SPS ) refused to ( i ) respond to the Qualified Written Request ( QWR ) under RESPA and ( 2 ) mail monthly statement, showing how all my payments are applied ; including that the fraudster Select Portfolio Servicing ( SPS ) cashed the XX/XX/2020 mortgage payment from my bank XXXX XXXX via ACH.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92887
Submitted Via: Web
Date Sent: 2020-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We had originated a refinanced mortgage through XXXX XXXX XXXX in XXXX of XXXX. Though it was a 30 year mortgage, there were several benefits detailed in the contract such as automatic bi-weekly payments, additional principle added to each bi-weekly payment, and having all payments applied to principle the day it is received that actually has the entire mortgage paid off in just 14 1/2 years. They even provided a detailed payment schedule showing every single bi-weekly payment, the amount applied to interest, and the remaining principle balance - all 377 of them over the 14 1/2 years. As XXXX merged with XXXX we never had any issues with them drawing or applying the payments and no changes other than the escrow portion that only paid taxes. Through the Spring of XXXX we received several notices that Select Portfolio Servicing ( SPS ) would be taking over the servicing of our mortgage and many assurances that there would be no changes to our original mortgage. While there was a slight delay between the last payment drawn by XXXX on XX/XX/XXXX and what should have been the first payment drawn by SPS on XX/XX/XXXX they did draw it on XX/XX/XXXX followed by the regularly scheduled payment on XX/XX/XXXX. Unfortunately, we have since found that they do no apply the payment when it is received, but rather have been holding onto payments for 14-28 days before applying. As our mortgage has daily simple interest, every day they hold our payments in limbo, the interest portion grows and thus less money is eventually applied to principle - extending our mortgage and increasing the amount of interest we pay. As our contract specifically states that all payments will be applied the day it is received, their actions can only be considered theft and/or fraud. We also had an issue recently when they failed to draw the regular bi-weekly payment on XX/XX/XXXX so I called on XX/XX/XXXX and even though the service agent could not tell me why the payment never ran or why my payments were being held and not applied correctly he assured me that the matter had been send to 'cashiering ' and the payment would run by morning. The payment did not run by morning or even the next day so I contacted our attorney and collected all the documents for her to present with a letter requesting they rectify their many errors. They did run the regular bi-weekly payment on XX/XX/XXXX but still have not collected the XX/XX/XXXX payment or either of the 2 since - XX/XX/XXXX and XX/XX/XXXX. So, they have missed 3 of 4 ( and counting ) bi-weekly payments. My account online does not show any late fees or penalties yet but it shows in red payment is due on the account XX/XX/XXXX. They have not responded to my attorney, but I did receive a letter via USPS this week that they had received the correspondence but as it was received at their 'dispute mailbox ' they have forwarded it another unnamed department and since my letter raising several issues with their servicing of my account " did not raise an issue with the servicing of your account '' they consider the matter closed. As my attorney prepares our next actions, she did suggest I file a complaint here and I will also do the same with the Washington Attorney General 's office and the XXXX XXXX XXXX.
Company Response: Company believes complaint is the result of an isolated error
State: WA
Zip: 99301
Submitted Via: Web
Date Sent: 2020-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We filing this complaint to clear up an on going issue that Select Portfolio Mortgage Servicing has failed to correct dating back to XXXX and XXXX. In reviewing billing and payment history posting errors are noted and because of this they are claiming missing payments. We have talked to them on several occasions and was told to send copies to correct it and it has not been done. They recently transferred us to a new Mortgage Company call XXXX XXXX XXXX and this amount they claim is owed was transferred to them. I have spoke with XXXX XXXX XXXX and they told us to get Select Portfolio to correct this amount and they would have to cleared up with them. Otherwise the amount will stay as is. The amount amount we deputing is {$1200.00} which is two payments. In reviewing there payment history it is note that two payments were made and Select Portfolio posted them but went back and debited them back. This issue took place on XX/XX/XXXX and according to our records no payment was missed but some were sent in late.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32305
Submitted Via: Web
Date Sent: 2020-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-19
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I have applied for a Hardship Loan Modification to reduce my Loan Rate from 7 % to 3-4 %. Why is Select Portfolio Servicing and XXXX XXXX are intentionally violating the Law by NOT reducing the Loan Rate from 7 % to 3-4 %? I write a Complaint, and the Complaint is not giving me the Mortgage Code Statutes supporting this FRAUD of a Predatory Loan. 2 Questions : Where is the Code Statutes SPS and XXXX XXXX are using to support their 7 % Predatory Loan Rate of 7 %?? Why is the 7 % Rate NOT being reduced to 3-4 %????.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX, I telephoned and spoke with a representative from the Ombudsmens office at Select Portfolio Servicing Inc. ( SPS ). At this time, I asked for verification of our contractually agreed upon rate reduction. I was advised by the representative this would not occur due to page 2, third ( 3rd ) paragraph of the loan repayment and security agreement ( adjustment to contract rate ), that stated in part Notwithstanding anything to the contrary in this paragraph, you will not receive any Contract Rate reductions or the reduced monthly payment after four periods of delinquency. Now, this section does not state for the life of the loan but it does say, notwithstanding anything to contrary in this paragraph. Page 2, third ( 3rd ) paragraph ends with A period of delinquency begins when you fail to make a payment in full within thirty ( 30 ) days of the due date and ends when you have no payments that are outstanding for more than thirty ( 30 ) days past their due date. On XX/XX/XXXX, we paid in full and since this date, have been current on our loan. Based upon this and page 2, third ( 3rd ) paragraph of the loan repayment and security agreement you were required to provide us with a one quarter of one percent ( .25 ) rate reduction effect in the thirteenth ( 13 ) month ( XX/XX/XXXX ). Additionally, we would have never been four ( 4 ) payments behind if SPS had not refused to take our payments starting in XXXX of XXXX. On XX/XX/XXXX, I sent a letter to SPS requesting a resolution to six ( 6 ) items. Below you will see the six ( 6 ) items which I have copy and pasted from the original document. To date, SPS has only satisfied request number six ( 6 ) and with reference to item five ( 5 ) has only sent one ( 1 ) copy of a property inspection for which we were charged multiple times. 1. We would like to formally request a copy of all letters, correspondence, communication of any type from SPS to us ( XXXX and XXXX XXXX ), starting from when SPS took over serving our loan. We do not need a copy of the documents sent by XXXX XXXX XXXX XXXX ( XXXX ). 2. On XX/XX/XXXX, we sent a letter requesting a review of our entire loan history and a verification of all the loan interest adjustments per the loan repayment and security agreement, page 2, third ( 3rd ) paragraph ( adjustment to contract rate ). To date, a copy of the XX/XX/XXXX requested review has never been received by us. Also, we have made several requests for a complete copy of our payment history from loan inception, in a legible font ( 11pt font or greater ). We have yet to receive something in a requested format or one that is legible, not pixilated or not in a 6pt font. 3. We would also like to request at this time for SPS to provide a copy, with specific dates, of prior delinquent/missed payments since the loan inception. 4. On XX/XX/XXXX, I telephoned and spoke with a representative from the Ombudsmens office. At this time, I asked for verification of our contractually agreed upon rate reduction. I was advised by the representative this would not occur due to page 2, third ( 3rd ) paragraph of the loan repayment and security agreement ( adjustment to contract rate ), that stated in part Notwithstanding anything to the contrary in this paragraph, you will not receive any Contract Rate reductions or the reduced monthly payment after four periods of delinquency. Now, this section does not state for the life of the loan but it does say, notwithstanding anything to contrary in this paragraph. Page 2, third ( 3rd ) paragraph ends with A period of delinquency begins when you fail to make a payment in full within thirty ( 30 ) days of the due date and ends when you have no payments that are outstanding for more than thirty ( 30 ) days past their due date. On XX/XX/XXXX, we paid in full and since this date, have been current on our loan. Based upon this and page 2, third ( 3rd ) paragraph of the loan repayment and security agreement you were required to provide us with a one quarter of one percent ( .25 ) rate reduction effect in the thirteenth ( 13 ) month ( XX/XX/XXXX ). We would like to know why this has not taken place. 5. We are requesting a review and reimbursement for each, since the loan inception, of the XXXX XXXX XXXX that are itemized on our transaction records. This is listed as transaction code six-thirty-one ( 631 ) in the amounts of {$15.00} and {$89.00}. In XXXX of XXXX, I contacted your companys office of the ombudsmen and requested a copy of each property inspection that had been conducted as well as copy of the company invoice. To date, I received a letter dated XX/XX/XXXX that included one ( 1 ) property inspection dated XX/XX/XXXX. Additionally, there are several charges for {$15.00} even though we were communicating with your company monthly and in some cases weekly and bi-monthly. Your own company fee schedule states, Fee charged if you are in default and we can not make contact with you to determine the condition of the property. Since the loans inception we have made contact each and every month and, in some cases, more often with SPS and all prior loan servicers. 6. We would like to request you remove the one-hundred-twenty ( 120 ) plus days late remarks on all three ( 3 ) of the credit reporting bureaus you have placed. This was not the case until you refused our payments starting in XXXX of XXXX. We would also appreciate if you could provide a separate letter referencing the removal. The one-hundred-twenty ( 120 ) late that are currently reflected are for XXXX of XXXX and XXXX of XXXX. We have also made several requests for SPS to provide a copy of a Deferral Agreement we signed with our lender. These requests have already exceeded thirty ( 30 ) days and we still have not received the documents. I also contacted the Ombudsman 's office in XXXX of XXXX to ascertain the status of my request and was told they would get back to me but have not. Any assistance you can provide will be greatly appreciated.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91766
Submitted Via: Web
Date Sent: 2020-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A