Date Received: 2020-04-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Due to the Covid19 emergency I called Select Portfolio Services to ask them for possible options to make payments because I stopped working 3 weeks ago ( I was in an overseas trip ) and Florida 's governor placed a ban to XXXX XXXX XXXX until XX/XX/XXXX. They said, " we are here to help, your option, stop payments for 3 months, interest will be charged and after those 3 months you have to pay 4 months at once. What do you think? '' What Do I think? I called them because I'm not working, I've never had a late payment. If I have the money I would not be calling. I won't receive money form the Trump 's Bailout but they will, why?.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33076
Submitted Via: Web
Date Sent: 2020-04-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My hours have been cut due to the covid-19 making it difficult to pay my XXXX mortgage. I called Select Portfolio Servicing and was told that they automatically can put 3 months ( XXXX, XXXX & XXXX ) on the back end of loan. I inquired about not having the three months spread out over the top of the remaining months and I was told that would not be done. I asked if their were penalties and late fees for this and I was told there were none, that the payments are put on the back end of the mortgage. I called last Thursday or Friday, XX/XX/XXXX or XX/XX/XXXX & was told I will hear back in 3-4 days. Today, XX/XX/XXXX I looked online and saw my request was put in and a letter will be sent in 7-15 business days. I called customer service and spoke with a gentleman and was told that it could be up to 3 months before I receive their letter because they are so backed up. He also told me, " so you won't get a surprise '', that they could very well require me to pay the three back mortgage payments along with my XXXX payment. When I asked how I was expected to do that, I was told that " no one is telling you to do this '', it's not up to SPS. I have had 2 totally different conversations within 1 week. It is as if I were speaking with two totally different companies.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33436
Submitted Via: Web
Date Sent: 2020-04-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This company is not being honest with what they have done with my money. This is my third complaint. As explained in the first two complaints SP Servicing held my account for one month when they bought it from XXXX XXXX. My first payment was due on XX/XX/2020. I paid on time as I always have. I also applied two payments to my principle. They took all my money paid and applied it to interest with some type of story how " my interest is compounded daily '' blah blah. They also tried to say that there was an error on how XXXX XXXX processed my interest and they took the extra payments for that, but when I filed my second complaint demanding verification on what they error was lo and behold they couldn't tell me. So they stated that {$280.00} that they stole from me was sent back to me in my escrow check. Not true. You will see on two screen shots that all my money I paid to them in one month went totally to interest and when they were caught they moved my principle payments to escrow without ever applying them to my principle and look at the attachment! The {$280.00} they state was sent to me is guess what? Still sitting in escrow. When I called to inquire why this money was not returned to me I was told it was for " fees ''. Although they couldn't tell me what the fees were for during the phone call. SP Servicing stated that my account was under review and they would tell me in writing within 30 days. So now they must answer why they lied and told you they mailed this money to me as part of my escrow when in fact they did not. Lastly they owe me more money than my account shows, because they never applied my principle payments to guess what? Principle. Therefore, when they quoted my pay-off they overquoted what I actually owed. I need that reimbursed as well.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 79938
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My Wife lost her {$95000.00} job due to a XXXX. I filed a Loan Modifications and Select Portfolio Servicing, servicer of our Loan is forcing us to sign a 7 % Loan Modification, when the Prime Rate is now at 0 %. Since I will not agree to the 7 % Loan Modification, Select Portfolio Servicing is Foreclosing on my Property. I need help, so I can get this Hardship Modification complete. Thank You, XXXX XXXX XXXX ( XXXX ) XXXX-XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 615XX
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have applied to my my current mortgage services for a modification under their guidelines which I believe is the Hope program. They have been reviewing my file for almost one year and have not been able to render a decision. I speak to them almost weekly and have hundreds of mailed documents asking for information and I supply the requested documents only to get asked for more documents or more updated documents. I feel that because I have not missed any payments yet that there is no reason for an investor to take my loan. As a result, I feel like I am being denied a loan modification. The loan was originally a 7/23 interest only ARM. It was interest only for the first 7 years then it adjusted to a 23 year amortization loan which changed my payment from about {$2100.00} per month to now {$4800.00} per month. It gets worse every year because the number of years it is amortized goes down by one year so I am now at about a 19 year amortization.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22314
Submitted Via: Web
Date Sent: 2020-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XXXX XXXX sold my loan to Select Portfolio Services ( SPS ) almost 1 year ago. On XX/XX/2020 ( not exactly sure which day ) I called SPS inquiring to a FORBEARANCE on our existing mortgage. I asked if the Forbearance would allow for the entire payment ( PITI ) to be added onto the back of the loan. The representative said that the Principle and Interest would be but not the Taxes and Insurance. Thus, I said that I'd make the Taxes and Insurance payment. The representative said a letter would go out in a week offering you options. That " letter '' arrived on XX/XX/2020 and dated XX/XX/2020. Attached is the letter. I'm so sick to my stomach because SPS is seeking to profit from this horrible virus circumstance. They are offering my wife and me 90 day Forbearance ( from XXXX, XXXX and XXXX ) with a BALLOON PAYMENT DUE XX/XX/2020. My PITI monthly payment is {$2000.00}. Let 's multiple that by 3 months or {$6100.00}. Let 's add {$2000.00} due XX/XX/2020. Total {$8200.00}. Now, they want to charge me after 90 days a balloon payment of {$9500.00} ( see pay 2 TERMS ). If there was EVER a time when the CONSUMER FINANCIAL PROTECTION BUREAU NEEDED TO STEP IN, IT'S NOW. MY LOAN # IS XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 95661
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I got a mortgage with SPS ( Select Portfolio Servicing ). In this mortgage, I had to pay the PMI and I already paid 22 % of the initial cost of the home, The state that the PMI will remove automatically when the lender reach 0.78 LTV ( Loan to Value ). I already ask them to remove the PMI and they ask me to send money to pay an appraisal, I already did on time. I do not agree with that because they state that the PMI will remove automatically when the lender reach 78 % of the LTV Thanks
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 34120
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Servicer Select Portfolio Servicing ( SPS ) Loan Number XXXX @ Property Address XXXX XXXX XXXX, XXXX XXXX, CA XXXX Alleged servicer is engaged in Consumer Fraud for asking to pay without any Mortgage Statement and Balance in Violation of RESPA. I am being forced to sue Servicer Select Portfolio Servicing for Consumer Fraud and RESPA violation. Servicer Select Portfolio Servicing ( SPS ) is not a true servicer rather it is shady, illegal and foreclosing operation and its whole purpose is to Manufacturer Foreclosure by Fraudulent Means, as evidence gathered from many people who had loan serviced by. Furthermore, for XX/XX/2020, I have paid to the previous Servicer - XXXX on XX/XX/2020.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92887
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-30
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is our third complaint against this company SPS. We secured an FHA mortgage from XXXX in XXXX. The company states that it is not now, nor was it ever an FHA Mortgage although all of the existing information including the original foreclosure documents state FHA. This information was filed by their original lawyer. Please request documents and I can forward to you because it has our personal information and the address. The documents filed by their Attorney and filed by certification for their attorney States that they are Attorney for the Plaintiff and further certifies that in said matter that the premises are not subject to Act 91 because it is, and there are 4 choices an FHA Mortgage, Non owner occupied, vacant, Act 91procedures have been fulfilled. The Lawyer clearly checked FHA Mortgage. It further states that this certification is made subject to the penalties of 18 PS C.S. Section 4904relating to unsworn falsification to authorities. signed on the XXXX of XX/XX/XXXX. We submitted further evidence of HUD Form 9539 Request for Occupied Conveyance which was sent to our home and was dated for XX/XX/XXXX. This conveyance listed our property address with the FHA/HUD Case Number and goes on to explain that the House was in Foreclosure and would be transferred to XXXX XXXX but before XXXX XXXX conveys property back to HUD that the occupants would be able to reside in the property and we just needed to send all of our information to the lawyer and further listed HUD 's occupied conveyance procedures Even with all this as evidence, the lawyer continued to deny that the Mortgage was HUD. On the last complaint we requested a Qualified Written Complaint to identify where all the fees were coming from but SPS never sent that. In addition, prior to SPS serving our loan we were approved for a Modification from XXXX which was not honored when the Serving went to SPS. Under SPS we were consistently denied a modification and once we received our last documents with the assistance of our lawyer they continued to deny us. Under the current modification agreement, their current lawyer tells us that we are not allowed to negotiate and SPS refuses to answer the questions we posed to them about the modification. Even our Housing Counselor could not get answers to where the fees were coming from and what type of modification we obtained. They further sent information about them having followed procedures to continue to foreclose if we did not sign and return documents that we don't understand. We are happy to obtain a modification. It for 15 years but at the end we will still owe {$170000.00} balloon payment after paying XXXX and the house only cost XXXX and when we stopped paying we only had XXXX left. Please help us get some answers so that we are not bullied by this lawyer or SPS.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19050
Submitted Via: Web
Date Sent: 2020-04-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-30
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I contacted Select Portfolio Servicing ( SPs ) last week by email requesting for a hardship forbearance due to the coronavirus. I am a XXXX. I have lost all my clients due to the pandemic and have no means of making any payments. I have been informed by SPS that they will foreclose on my house. They are insisting on my having a short sale or giving them the deed to my house. Congress gave $ 50b to corporations which SPS will get a substantial share of. My clients have lost their jobs, I have no source of income other than the stimulus that will coming from the government in the next one month. Right now, I am barely managing to survive with my XXXX children. This issue is nationwide and not peculiar to me. people are trying to make ends meet. There is no demand for XXXX now. All the XXXX are closed. I want a hardship deferral to secure the house for my XXXX children and I. we want to keep our home and need SPS to work with us. In SPS 's response to my earlier complaint, they stated incredibly that they did not know where I lived. they claimed that they did not have any address for me. They know my address and know that I live in the home that I am trying to save. This shows their lack of good faith for them to tell outright lies about not knowing where I live or the address to contact me. I have had numerous written and verbal correspondence with them and they know that my address is the home that I am trying to save.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-03-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A