SELECT PORTFOLIO SERVICING, INC.


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"Products" offered by SELECT PORTFOLIO SERVICING, INC. with at least one, but usually more complaints:

Bank account or service - Checking account
Bank account or service - Other bank product/service
Checking or savings account - Checking account
Checking or savings account - Other banking product or service
Consumer Loan - Installment loan
Consumer Loan - Personal line of credit
Credit card or prepaid card - General-purpose credit card or charge card
Credit reporting -
Credit reporting or other personal consumer reports - Credit reporting
Credit reporting, credit repair services, or other personal consumer reports - Credit repair services
Credit reporting, credit repair services, or other personal consumer reports - Credit reporting
Credit reporting, credit repair services, or other personal consumer reports - Other personal consumer report
Debt collection - Credit card debt
Debt collection - I do not know
Debt collection - Medical
Debt collection - Mortgage
Debt collection - Mortgage debt
Debt collection - Other (i.e. phone, health club, etc.)
Debt collection - Other debt
Debt collection - Payday loan debt
Debt or credit management - Mortgage modification or foreclosure avoid
Money transfer, virtual currency, or money service - Debt settlement
Money transfer, virtual currency, or money service - Domestic (US) money transfer
Money transfer, virtual currency, or money service - International money transfer
Money transfer, virtual currency, or money service - Refund anticipation check
Mortgage - Conventional adjustable mortgage (ARM)
Mortgage - Conventional fixed mortgage
Mortgage - Conventional home mortgage
Mortgage - FHA mortgage
Mortgage - Home equity loan or line of credit
Mortgage - Home equity loan or line of credit (HELOC)
Mortgage - Manufactured home loan
Mortgage - Other mortgage
Mortgage - Other type of mortgage
Mortgage - Reverse mortgage
Mortgage - Second mortgage
Mortgage - VA mortgage
Payday loan, title loan, or personal loan - Installment loan
Payday loan, title loan, or personal loan - Personal line of credit
Prepaid card - Government benefit card
Student loan - Non-federal student loan
Vehicle loan or lease - Loan

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Complaint ID: 3554050

Date Received: 2020-03-04

Issue: Struggling to pay mortgage

Subissue:

Consumer Complaint: We lived in the subject property since XXXX. My clients have lived in the subject property since XXXX. Approximately five years ago, my clients entered into a loan modification agreement with Select Portfolio Servicing, LLC ( SPS ) and honored that agreement. The loan was modified to a 2 % interest rate with about {$500000.00} of the balance deferred. In early XXXX, my clients filed a voluntary bankruptcy petition, but continued to make all principal and interest payments timely on the account, in accordance with the loan modification agreement. All payments were made without incident until XX/XX/XXXX. When Mr. XXXX called in to SPS to make his XXXX payment as usual, the representative asked if my clients property had been affected by the fires. Mr. XXXX told her that they were mandatorily evacuated. She solicited Mr. XXXX for a FEMA program that she represented would relieve their obligation to make monthly payments for approximately four months. He accepted. However, when Mr. XXXX called in to resume payments after the represented term of the FEMA relief program, he was told by an SPS representative that he and his wife now owed the 4 months missed as a result of their reliance on the previous SPS employees representations. These terms were not as disclosed to my clients, and my clients would have declined such an offer. To complicate matters, in early XX/XX/XXXX, Mr. XXXX had an additional hardship in that he had to have XXXX XXXX XXXX. On or about XX/XX/XXXX, Mr. XXXX again reached out to SPS to ask for relief from the situation where they now owed back payments for their participation in the program solicited by SPS which was not as represented. SPS told my clients they could apply for mortgage assistance. My clients did apply but SPS did not timely respond. Mr. XXXX followed up routinely by telephone and SPS kept requiring that he and his wife resend all the information they had already sent in, even when just sent less than a month prior and in no need of refreshing. After 5 months, in response to frequent requests from my clients, SPS gave a pretextual reason for declining my clients from the loan modification, stating that they had been declined because they had previously modified their loan five years before. But SPS knew or should have known that the loan had previously been modified both when the FEMA relief program was offered, and when the loan modification application process began in XX/XX/XXXX. Even worse, when my clients called SPS XX/XX/XXXX to make the XX/XX/XXXX payment, he was not allowed to pay. An SPS representative told Mr. XXXX that the payment would not be accepted and that their account had been forwarded to their foreclosure department. SPS further represented that unless my clients made full payment of all of the claimed amounts past due, including erroneous amounts added despite SPSs previous representations that the payments were being waived or comped as part of the alleged FEMA relief program, that NO PAYMENTS WOULD BE ACCEPTED. In addition, there is an unaccounted escrow shortfall. Under separate cover, my clients have sent a qualified written request under the Real Estate Settlement Procedures Act to obtain documentation of the escrow account and certain specified increases in the claimed shortfall. In sum, within the span of approximately 30 days, the claimed escrow shortfall, itself unverified, jumped from {$61000.00} to {$74000.00}, a {$13000.00} increase. Time is of the essence as you have instituted the foreclosure process on my clients. While these legal matters are being investigated and complied with, cease all trustee sale activities in accordance with the Homeowner Bill of Rights, RESPA, TILA, the FDCPA, and other governing laws, including the trustee sale statutes set forth in the California Code in their entirety. SPS told my clients they could apply for mortgage assistance. My clients did apply but SPS did not timely respond. Mr. XXXX followed up routinely by telephone and SPS kept requiring that he and his wife resend all the information they had already sent in, even when just sent less than a month prior and in no need of refreshing. After 5 months, in response to frequent requests from my clients, SPS gave a pretextual reason for declining my clients from the loan modification, stating that they had been declined because they had previously modified their loan five years before. But SPS knew or should have known that the loan had previously been modified both when the FEMA relief program was offered, and when the loan modification application process began in XX/XX/XXXX. Even worse, when my clients called SPS XX/XX/XXXX to make the XX/XX/XXXX payment, he was not allowed to pay. An SPS representative told Mr. XXXX that the payment would not be accepted and that their account had been forwarded to their foreclosure department. SPS further represented that unless my clients made full payment of all of the claimed amounts past due, including erroneous amounts added despite XXXX previous representations that the payments were being waived or comped as part of the alleged FEMA relief program, that NO PAYMENTS WOULD BE ACCEPTED. In addition, there is an unaccounted escrow shortfall. Under separate cover, my clients have sent a qualified written request under the Real Estate Settlement Procedures Act to obtain documentation of the escrow account and certain specified increases in the claimed shortfall. In sum, within the span of approximately 30 days, the claimed escrow shortfall, itself unverified, jumped from {$61000.00} to {$74000.00}, a {$13000.00} increase. Time is of the essence as SPS has noticed a foreclosure for XX/XX/XXXX, XXXX.

Company Response: Company believes it acted appropriately as authorized by contract or law

State: AZ

Zip: 85255

Submitted Via: Web

Date Sent: 2020-03-04

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3553164

Date Received: 2020-03-03

Issue: Trouble during payment process

Subissue:

Consumer Complaint: Select Portfolio Servicing , Inc. is our Mortgage Servicer. They are " supposed '' to process our Mortgage Payments and they can not consistently master this task. Mailed {$3100.00} for XX/XX/XXXX-XX/XX/XXXX-XX/XX/XXXX-XX/XX/XXXX-XX/XX/XXXX. payments. They processed a few months then I had to call to find out where my payments went, they either put it on Principal Only or Unapplied funds which is not where it is to go. It is to be applied to my future mortgage payments. My check was cashed on theXX/XX/XXXX2020. 3 payments were done on theXX/XX/XXXX Nothing more. I called on theXX/XX/XXXX had to ask for a Manager. Manager XXXX says our account should not have been partially processed ; but she can not communicate to the Cashiering Dept., she emailed the Cashiers dept. and called me at XXXX to let me know she was still waiting to communicate with them. I called SPS on Tuesday, XX/XX/XXXX, payments STILL not fully processed. XX/XX/2020 payment was put in principal only and NOT towards our mortgage even with notes in our file that prove future payments can be made and applied to our mortgage. Let 's be honest, SPS knows they do what they do and no matter what steps are in place to assist the consumer they do the improper steps and don't care about the consumer 's stress level. I was told today that, " the processing of my payments are in line behind their other million customers. '' By Supervisor XXXX XXXX. When my check was partially processed on the XX/XX/XXXX there should have been no reason to stop processing the last payments, then to he told I have to wait for the other million customers?? Seems like my number was already called. When I ask for a document that shows my payments were made on what day, SPS sends me an 8x11 '' piece of paper with 25 line items no larger than 3-1/2 '' x 4 '' so I can not see what has transpired with the money we have sent to he assured SPS is not scamming us, so technically there is no way to see what transactions were done. Their website does not properly show transactions or payment history either, so there truly is no way to audit what they are doing. Even checks are processed as ACH so it does not show a papertrail of payments if needed. Seems dangerous for a company of a " million mortgages '' to not have to show any accountability. Why this company is still in business just shows that predatory servicers get to do whatever they want with no consequences whatsoever. This is not my first complaint and probably not my last with this company as long as they are allowed to take customers for a ride and misapply/process payments. They are not allowed to collect Escrow on our account due to misapplication of our escrow funds, ultimately, I would like another Servicer and should not have to refinance out to change since they do not report our mortgage payments to credit agencies, XXXX, XXXX and XXXX, our credit report lacks that important transaction. ( Once again, another reason for them to abuse their power as a mortgage servicer. )

Company Response: Company believes it acted appropriately as authorized by contract or law

State: FL

Zip: 339XX

Submitted Via: Web

Date Sent: 2020-03-03

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3552998

Date Received: 2020-03-03

Issue: Struggling to pay mortgage

Subissue:

Consumer Complaint: I've been working with my attorneys and my servicer SPS on reinstating my mortgage. SPS sent me a letter in XX/XX/2020 stating I have until XX/XX/2020 to reinstate my loan buy paying $ XXXX and that they replied to the complaint that I submitted here where they stated that phone call I had with XXXX on XX/XX/2020 did not violate any of their rules. The conversation I had with XXXX is where he suggested I pay $ 16k+ and he would try and reinstate the loan but couldn't make any promises. But he couldn't put that in writing. How is that not questionable? I make a large payment but that means nothing because he doesn't and/or can't put it in writing. Then I check my county 's website and there are documents filed by SPS ' attorney 's selling my home on XX/XX/2020. Their attorney also sent me a letter which I received XX/XX/2020 for a payoff quote, and the date to submit the payoff quote was XX/XX/2020! I had less than 24 hours to even send in a payment. Today, XX/XX/2020 I check the website again, and their attorney 's have filed paperwork again to submit a sale date! I have until XX/XX/2020 to reinstate according to SPS 's letter. I also received a phone call from SPS today, XX/XX/2020 asking me if I would like to reinstate, I told them I would and my attorney 's would contact them shortly. Nevermind that they called me while I am at work. Every time they do this, my credit gets dinged. I am trying to rebuild my credit so I can refinance. I would like to get away from this servicer. If you would read the numerous complaints and federal court cases, you will see their tactics. As I continue to state, their parent company, XXXX XXXX continues to get in lawsuits especially with the US government. I can't have people calling me several times a week every time their attorney 's set a sale date ( I question how they even received my phone number. I'm pretty sure their attorney has something to do with it ). They violate numerous consumer protection laws. And then they 'll drive by my house slowing down and taking pictures. They will always say they have a right to inspect my home, but based on the law, if they are in contact with me and know the home is occupied, they are not to inspect the home or charge for those. They have charged me {$75.00} for this inspection, and they always state it's for the noteholders interest. We have no clue who the noteholder is. We know that XXXX XXXX is the trustee. I've repeatedly asked for the policy that they refuse to submit. They simply say they have that right as the servicer. According to the law, they don't have that right. I am interested in reinstating my mortgage as I am a single mother of XXXX and don't want to be homeless. This company clearly has no intentions of helping anyone since this administration took office. They are dead set on taking my home and no way of helping me. If XXXX XXXX is merely the trustee, then why is their name on every foreclosure? They aren't the trust or the note holder.

Company Response: Company believes it acted appropriately as authorized by contract or law

State: OK

Zip: 73071

Submitted Via: Web

Date Sent: 2020-03-03

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3552808

Date Received: 2020-03-03

Issue: Trouble during payment process

Subissue:

Consumer Complaint: My previous mortgage was with XXXX XXXX and I had zero issues over 9 years. The mortgage was sold by XXXX XXXX to SP Servicing, XXXX XXXX XXXX, UT. My first payment with SP Serving was XX/XX/2020 in the amount of {$930.00}. I electronically wired {$940.00} for the mortgage. In addition I sent a separate amount of {$170.00} clearly earmarked for the principle of the loan. I called prior to XX/XX/2020 to get a feel for the company and also to insure that if I sent principle payments that the amount would be applied directly to my principle. I was assured that it would. I called SP Servicing to inquire, because XXXX XXXX allowed for you to go directly to the site and make a payment at no charge to you. I could on line and pay my mortgage and I could also apply money directly to the principle. This is a practice I did throughout the 9 years I was with XXXX XXXX. However, I noticed that SP Servicing charged you a {$15.00} fee to make an online payment directly on their site. I was not going to do that so I sent my payments directly to SP Servicing from my bank and I wanted to make sure that the payments would be applied appropriately. Hence why I called them and they assured me the payments would be applied appropriately. I checked my account after my XX/XX/2020 payment posted and after my separate principle payment cleared. They did not apply my principle payment to the loan and not only did they not apply my principle payment to the loan they applied my whole mortgage payment plus {$14.00} of the money earmarked for principle to interest. The only money applied to the principle from both transactions was {$150.00}. I called and questioned this. The employees at this company tried to state that it was because I had a " daily interest '' accrue and they will pay the interest before the principle. I responded to them that I understand how interest is accrued, but they should only take the interest from my monthly payment versus my principle payments. Further I stated that not all of my monthly payment will go to interest. I stated " this is not an interest only loan ''. There is a reason that when I started with the loan 9 years ago at $ XXXX that the principle is now at $ 75,000+, but in reality should be $ 74,000+. I could not get these morons to understand this. When I contacted the " ombudsmen '' of the company they stated " you do realize you have a daily interest accrual ''. And again ... I explained how mortgage payments and principles payments work. The ombudsmen office acted as if they finally understood and they stated they put in a request to have the account fixed. However, I sent yet another principle payment in the amount of {$340.00} electronically from my bank to SP Servicing on XX/XX/2020 and they did the same thing again. They applied the money to interest and only {$150.00} to the principle. Now out of {$520.00} directly paid to principle they have only credited {$310.00} to it. In addition I have been charged {$1000.00} of interest with 2 weeks. Keep in mind my monthly payment is only {$930.00}. So I called the Ombudsman again and tried to talk slowly. I asked them does anything jump out at you? I asked them to look at my monthly payment in the amount of {$930.00}. They acknowledged it. I then asked them to look at what has been applied to interest just in the past 2 weeks. I asked them if they realize that they are charging me in interest more than what my monthly payment is. I said ... .even though I have a " daily interest '' accrual when I make my monthly payment you should be taking it out of there and even then it won't be the full payment! I stated to them that I don't even have to make principle payments and if I didn't they would only have the monthly payment to take the interest from. I asked again slowly ... .do you understand now? Again I state that not only are they not crediting the principle I have paid directly they have literally took my whole mortgage payment and applied the full payment to interest less the {$120.00} they have taken for insurance. This company is either grossly incompetent in basic accounting practices or fraudulent to its core. At this rate I will never pay this loan off. I reached out again today to the " ombudsmen '' who stated " this should '' get fixed within 7 days. I asked them if every time I make a principle payment if this will happen and they said they weren't sure. I asked them to also put a note on my account that not only must they fix my direct principle payments they need to apply my principle payment from my mortgage payment as well. What is scary to me is they do not give a breakdown of exactly how your monthly payment is applied. They just put a chunk to " interest and mortgage '' so there is no way to track how my payments are being applied. I will attach all written communication to this company and attachments to date.

Company Response: Company believes complaint is the result of an isolated error

State: TX

Zip: 79938

Submitted Via: Web

Date Sent: 2020-03-03

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3550270

Date Received: 2020-03-02

Issue: Struggling to pay mortgage

Subissue:

Consumer Complaint: I am In litigation with Select Portfolio Servicing whom foreclosed on my home however violated consumer protection laws Indurance les holding insurance proceeds without applying to my mortgage. Placing forces placed home owners insurance while i had private purchased homeowners. For 7 years sps refuses to modify my mortgage violating my rights under FTC laws Unfair deception abuse practices using political points blaming presidents for not being able to sue loan modifications. Perfusly staying they did not receive required documentation. All while under Bankruptcy I was placed into a chapter XXXX without my knowledge. Please someone help me.

Company Response: Company believes it acted appropriately as authorized by contract or law

State: PA

Zip: 19145

Submitted Via: Web

Date Sent: 2020-03-02

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3550047

Date Received: 2020-03-01

Issue: Trouble during payment process

Subissue:

Consumer Complaint: Mailed check with coupon in provided envelope on XX/XX/XXXX for XXXX payment to mortgage company ( Select Portfolio Servicing , Inc ) .. Funds were debited from my account XX/XX/XXXX. Mortgage company presented same check for payment on XX/XX/XXXX and again on XX/XX/XXXX, generating two {$28.00} NSF fees from my bank. I called mortgage company XX/XX/XXXX to explain their error. On XX/XX/XXXX I received a letter from mortgage company stating a returned check fee and a late fee would be charged to my account. I called mortgage company again XX/XX/XXXX to discuss their error. I mailed a letter XX/XX/XXXX detailing correspondence. No statement or payment coupon was received from mortgage company for the XXXX payment, so I mailed a letter with payment on XX/XX/XXXX, which was .debited from my account XX/XX/XXXX. I subsequently received a letter dated XX/XX/XXXX from mortgage company asking me to contact them " if ( you ) are experiencing financial hardship ''. I wrote to mortgage company again describing their error and listing all correspondence regarding this issue. I have not received any response from the mortgage company and do not know if the fees were reversed.

Company Response: Company believes complaint is the result of an isolated error

State: CA

Zip: 94526

Submitted Via: Web

Date Sent: 2020-03-01

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3548356

Date Received: 2020-02-28

Issue: Struggling to pay mortgage

Subissue:

Consumer Complaint: I spoke with Select Portfolio Service counselor back XX/XX/XXXX regarding my loan which was 60 days delinquent. I told them I was experiencing financial hardship and the SPS rep suggested I apply for a Loan Modification. That's when the nightmare really begins. After more than two months of back and forth, I was denied for modification and at that point, they referred my loan to a foreclosure attorney XXXX XXXX XXXX in XXXX. Serval times I offered to catch up payments however they would not agree to forbearance. I was advised by an attorney that my loan should have qualified for a modification because of my hardship and the type of loan rate ( 7.5 % ) and broken chain status on my title. I had informed about my hardship back in XX/XX/XXXX during the U.S. Government shutdown and my being a vendor pay was affected. SPS never helped me in this situation they accelerated their foreclosure process and dual tracked me while I sought their assistance. I want to keep my home and I need help.

Company Response: Company believes it acted appropriately as authorized by contract or law

State: OK

Zip: 741XX

Submitted Via: Web

Date Sent: 2020-02-28

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3547205

Date Received: 2020-02-27

Issue: Applying for a mortgage or refinancing an existing mortgage

Subissue:

Consumer Complaint: SPS Select Portfolio Servicing Department is not analyzing my income correctly and does not ask for any additional information to clarify 1. how are they calculating my net income without all net deposits from my paystub being included ; 2. How is my net income of {$100000.00} not adequate for a repayment plan or modification when the documented net income is 3x the amount needed to qualify for a mortgage payment equivalent to my balance owed. 3. what payment was calculated as not reasonable or affordable? 4. how much more money is needed to be paid on a payment plan after the {$20000.00} that I paid was not properly applied to the principal and interest amounts that are required by law 5. what other financial documentation is needed to verify my income as none has been provided? 6. What happened to the latest paystubs, W-2 's and notes on pay sent in XX/XX/XXXX and again on XX/XX/XXXX, now being sent again, as your letter of XX/XX/XXXX is using information submitted in XX/XX/2019 versus the latest information provided

Company Response: Company believes it acted appropriately as authorized by contract or law

State: GA

Zip: 30316

Submitted Via: Web

Date Sent: 2020-03-02

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3546091

Date Received: 2020-02-27

Issue: Struggling to pay mortgage

Subissue:

Consumer Complaint: XXXX XXXX XXXX XXXX XXXX XXXX , XXXX XXXX CA XXXX XXXX XXXX Short sale package was submitted to SPS on XX/XX/20. On XX/XX/20 rep XXXX # XXXX called the homeowner to offer her options of doing a loan mod or a short sale, and gave the homeowner a list of documents that would be needed. *****I believe that SPS , when they asked the borrower what she wanted to do, DELIBERATELY BAITED HER into saying that she would prefer to stay in the home, however she also said that she knew it wasn't not possible and needed a short sale. SPS inappropriately decided that meant she wanted a loan mod, when they KNEW she had been applying for one many times over the past year and was continually declined. They then used that as an excuse to deny her the opportunity for a short sale, as is her right under CA XXXX. On XX/XX/20 we called in to SPS to make sure they received the documents we submitted for the short sale. We were told the short sale was closed out and SPS would not offer any option other than a deed in lieu or a loan mod. Clearly SPS does not know what is going on with this transaction, since we get a different story every time we talk to them. This is not acceptable. IN THE ORIGINAL CONVERSATION, XXXX STATED A SHORT SALE WAS ABLE TO BE OFFERED, HOWEVER IN OUR CONVERSATION TODAY WITH SPS THE REP SAID THAT IT WAS NEVER AN OPTION. WHO LIED? The homeowner was told she would have the opportunity to be reviewed for a short sale, and that is what needs to happen. I want the short sale re-opened and the file moved forward appropriately.

Company Response: Company believes it acted appropriately as authorized by contract or law

State: CA

Zip: XXXXX

Submitted Via: Web

Date Sent: 2020-02-27

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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Complaint ID: 3545646

Date Received: 2020-02-26

Issue: Struggling to pay mortgage

Subissue:

Consumer Complaint: I financed TWO properties with under an LLC and Select Portfolio Servicing is the servicer. The business has filled Chapter XXXX bankruptcy. SPS has been notified of this multiple times and, has been advised to stop calling my personal number from a previous CFPB complaint in which they were calling after hours, and are still using my personal number to call to collect a debt. In addition, I spoke with " XXXX '', on a recored line ( I have a copy ) and advised her there should be no reason she should be calling my phone after she advised there was an open review on the account. I also want to add there is an open review on the account ( for a loan modification ) and they referred the account to an attorney for foreclosure which violates dual tracking laws, which in itself is another violation that SPS should be investigated for.

Company Response: Company believes it acted appropriately as authorized by contract or law

State: GA

Zip: 30331

Submitted Via: Web

Date Sent: 2020-02-26

Company Response to Consumer: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A


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