Date Received: 2023-10-08
Issue: Struggling to pay mortgage
Subissue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-li
Consumer Complaint: Hardship Letter 1 of 2 Im writing this letter in response to the encounters Ive received in maintaining my home, I've been in my home XXXX years, but with Select Portfolio Servicing for over XXXX of those years. Ive always let it be known that my intentions are to keep my home. Ive been going through a financial hardship since XXXX, I had XXXX and I work with a XXXX XXXX XXXX XXXX XXXX XXXX XXXX that oftentimes pass unexpectedly from XXXX. After being out of work for XXXX years. Ive been trying to get back on my feet. I work as a XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. During this season of XXXX, oftentimes my clients do not make it, leaving me in a position of not having clients to care for. Fortunately, I have since added another XXXX agency to my current work load to help me further meet my financial obligations. I paid {$5000.00} in XX/XX/XXXX, letting it be known that my intentions are to keep my home. I started working the second XXXX job, I came up with more money. On XX/XX/XXXX, I went into the SPS portal to make my payments and could not do so. I called SPS Customer Service they said I had been referred over to legal. I was told to put in for a Request for Mortgage Assistance Application and they would get back with me. In the meantime I received a letter from SPS Attorney XXXX XXXX XXXXXXXX XXXX : Reference # asking me to confirm my debt in the amount of XXXX XXXXmy principal amount is {$260000.00} a difference of {$19000.00}. The Letter also states they want this entire amount. I do not have an entire amount of {$280000.00}. This amount is also inflated by almost {$20000.00}. I also received a call from XXXX XXXX XXXX policy # they received a letter from SPS on XX/XX/XXXX stating they have initiated a foreclosure. I have gotten back on track I can pay for the months that I am behind and not lose my home. My payments are XXXX, I would need to pay XXXX, to bring my account current and reinstate my loan. I have kindly requested that SPS accept my previous arrears, so that I may continue to own my home as I have done for the last XXXX years. I am trying to work and pay the mortgage off so Im not faced with a foreclosure. As such, I dont understand why SPS is so eager to take my home, contacting foreclosure attorneys and my home owners insurance company creating undo stress for someone trying to save their home. I now need your help getting my loan modified, AND The Loan Servicer not to inflate my loan by {$20000.00} so I will not lose my home. I have attached the Insurance and Attorney Letters for your review. Thank you!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 303XX
Submitted Via: Web
Date Sent: 2023-10-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-08
Issue: Struggling to pay mortgage
Subissue: Foreclosure
Consumer Complaint: I am filing more complaints against SPS because of the unfair treatment I received in setting up a repayment plan that I can not afford. The payment is too high, and it not based on my current income and expenses, they also ignored my serious health issues. I am very ill, and my mortgage crisis is really taken its toll on me, we don't seem to be getting anywhere. I am going to file another complaint because you don't seem to do anything positive about my mortgage and it really bothers me, I sincerely hope that we can work together even though I am very sick. My XXXX XXXX XXXX XXXX and what happens if I pass away. I need to know before an event happens. Please it's not a good idea to foreclosure when I am facing death.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 493XX
Submitted Via: Web
Date Sent: 2023-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-06
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: On XX/XX/XXXX I discovered an unopened envelope from my mortgage Servicer. It contained an escrow overage refund check of {$1000.00}. The check expired 180 days after issuance, which was XX/XX/XXXX. I immediately contacted my mortgage servicer, Select Portfolio Services for re-issuance of the check. On XX/XX/XXXX, I spoke with XXXX. He said it would take up to 60 days for my to receive a new check. I e-mailed a copy of the voided check to them on XX/XX/XXXX. I followed up on XX/XX/XXXX and spoke with XXXX who said it was still being processed. I followed up on XX/XX/XXXX, spoke to XXXX who said nothing was done yet, then spoke to manager XXXX who said she would escalate. I followed up XX/XX/XXXX, spoke with XXXX who said it would be done within 10 days, nothing. I followed up on XXXX, spoke with XXXX who transferred me to the ombudsman Dept. I left a message. I followed up with ombudsman Dept on XXXX, XXXX said going to check into it. I followed up on XX/XX/XXXX and spoke to XXXX, no update I LMTC on XX/XX/XXXX I followed up on XX/XX/XXXX, XXXX said no update I followed up on XX/XX/XXXX XXXX said waiting on escrow LMTC XX/XX/XXXX. no response
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92867
Submitted Via: Web
Date Sent: 2023-10-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-04
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: I am a senior citizen with a XXXX XXXX husband and we are facing foreclosure due to financial impact of Covid on our family. We have tried to work things out with our mortgage servicer Select Portfolio Servicing and they were helpful at the beginning of the pandemic and gave us a forbearance and were able to get back on track with a modification. In late XXXX and early XXXX we faced more problems due to reduction in hours at work and another bout with Covid and my husbands medical bills. I have tried repeatedly to get SPS back to the table to work with us but they did not offer any type of assistance. After we missed a few payments in spring of XXXX they offered us a repayment plan but this raised our payment over {$1100.00} per month which was not affordable at that time. Now we are being told there are no options except to reinstate the full past due amount of {$19000.00}. I am overwhelmed with caring for my husband and handling all responsibilities as well as back to work full time and I believe that SPS has options they are not considering our family for. Our financial circumstances have stabilized and I am in a better place and able to afford a fair and reasonable monthly payment. The problem is that SPS has shut the door on my family and told us there are no other options for resolution and this will lead to us being out on the street. Our delinquency is a result of Covid related job loss and major health issues. We were granted CARES forbearance because I was out of work for one year in XXXX. We resumed payments in XXXX and after multiple attempts were granted a modification. We paid on the modification as long as we could but due to reduced hours and Covid and my husbands health issues ( he is XXXX XXXX and on XXXX ) we could not keep up with the modification payments. I tried many times to speak with SPS about a more affordable option or plan but could not make any progress. Instead I was offered a repayment plan with monthly payments of {$3500.00} which we could not afford at the time. We feel that SPS has written us off and is not willing to work with us towards a reasonable resolution. We have had a horrible time these past few years and my husband almost passed away a couple of weeks ago from XXXX and we are just trying to get through this situation. I am a XXXX. XXXX for XXXX XXXX and have recently received a pay raise. We have the ability to pay our mortgage if SPS were to work with us and consider our family for a program that will defer or recapitalize our past due payments of approximately {$19000.00}. We have had a change in financial circumstances and can afford a fair and reasonable payment. We have owned our home in XXXX XXXX since XXXX. I have worked in health care administration for 30 years and now that I am at XXXX XXXX I have worked my way up to XXXX XXXX after being laid off during the pandemic. XXXX was an XXXX XXXX for 30 years. We are grateful that there was a government forbearance plan to help us due to Covid and resumed making payments to SPS once we were back on our feet financially. While we made these payments we were reviewed for and eventually approved for the permanent modification. We made those payments until we were once again impacted by Covid and reduction in hours at work and increased medical co-pays and defaulted on the modification and tried to see if there was a way to get back on track and were offered a repayment plan that increased our payment from {$2300.00} a month to {$3500.00}. At that time it was simply not affordable.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OR
Zip: 97224
Submitted Via: Web
Date Sent: 2023-10-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-04
Issue: Trouble during payment process
Subissue: Payment process
Consumer Complaint: On XX/XX/2023 I made a payment online to Selective Portfolio Servicing ( SPS ) of {$1600.00}. During the payment processing I checked the box that assigned that payment to the " Accumulated Fees '' balance rather than " Regular Payment ''. That balance at that time was {$1600.00} so the payment was deliberately and specifically made to payoff that Accumulated Fee balance in order to apply for refinancing with another lender. By selecting the payment be applied to fees should have had the same effect as writing " For Accumulated Fees Only '' in the memo of a check, which is analogous to the XXXX Draft payment I was authorizing. Following their internal " policy '', SPS did not apply the payment as instructed but to a regular payment instead, now leaving me with having to pay those accumulated fees a XXXX time in order to move forward with the refinancing. Attached are a PDF receipt for the original payment to SPS, and a screenshot showing their XXXX XXXX and how one selects where the payment is applied.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75206
Submitted Via: Web
Date Sent: 2023-10-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-04
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I have repeatedly requested the Escrow surplus to be paid back to me to no avail.
Company Response: Company believes complaint is the result of an isolated error
State: FL
Zip: 334XX
Submitted Via: Web
Date Sent: 2023-10-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-04
Issue: Trouble during payment process
Subissue: Payment process
Consumer Complaint: I sent two money orders each for {$1000.00} in XXXX of XXXX to be applied to principal. When I got my XXXX statement and that payment didnt show I contacted them and they said they didnt have it. I contacted XXXX XXXX and they provided me with copies of both and back of the cashed orders. I forwarded them to the servicing company. They have them on file and still nothing has been done. They have had the copies, which both clearly show my account number, address and signature since XXXX of XXXX. I have contacted them on more than ten occasions and get the same response every time, we are looking for them. I have asked to speak to whoever is looking for them or a supervisor or anyone else that might help me and am told that they cant do that. The last person I talked to said they were probably applied to the wrong account and they would have no find that before they could apply it to mine.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NV
Zip: 89145
Submitted Via: Web
Date Sent: 2023-10-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-04
Issue: Struggling to pay mortgage
Subissue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-li
Consumer Complaint: Dear XXXX XXXX : My family and I are in desperate need of assistance from the CFPB with the impossible situation we have with our loan servicer, Select Portfolio Servicing ( SPS ). We reside in XXXX, Florida, which was XXXX XXXX for Hurricane Ian in XX/XX/XXXX ; nearly a category 5 storm. As fully documented in the press, the damage to our area was very significant, and our home was no exception. Specifically, our home suffered over {$500000.00} in actual damages, including extensive roof damage, water leakage throughout the inside of the home, and black mold infestation. Following this devastating storm, we lost all power for over two weeks and had no running water or air conditioning. While we have a public adjuster working on our insurance claims, given the extensive damage and volume of claims, it may be months or years before we receive any insurance money to complete the needed repairs if ever. Apparently, a number of insurance companies in Florida have been closed by the State due to insufficient reserves. Prior to this unfortunate set of events completely out of our control, we paid our mortgage on time to our servicer, SPS every month via XXXXXXXX XXXX. In fact, from the inception of our loan, we never missed any payments and always paid on time or in advance. My wife and I work in the real estate industry, and when XXXX XXXX devastated our area, all our real estate transactions came to a standstill. Quite simply, nobody wanted to purchase hurricane damaged homes, and sellers did not list their homes because they wouldnt receive fair market value without first repairing the damage. As such, we had no income for months after the storm, and were unable to make any mortgage payments. On XX/XX/XXXX, the Governor of Florida issued Executive Order XXXX renewing the XXXX XXXX State of Emergency , a state of emergency originally declared on XX/XX/XXXX, for an additional 60 days. In view of the foregoing, we requested reasonable assistance from SPS to either provide a reasonable forbearance period, defer any missed payments to the end of the loan, and send us a new payment amount that would allow us to catch up over a reasonable time period. We actually applied for assistance from SPS through their online in XX/XX/XXXX. From that point forward, SPS requested additional information fourteen ( 14 ) different times as per our conversation log with our servicer. At least half of the requests were asking for the same information already sent, which suggests that SPS either lost the information initially sent, or one hand doesnt know what the other is doing internally at SPS . On at least 3 occasions, SPS sent a specialist to our home to prepare a broker price opinion and valuation. It was not until XX/XX/XXXX, months after we initiated this process, that SPS finally sent us a letter stating they rejected our request for any modification or forbearance of our loan, and demanded that we pay the past due balance of {$83000.00} by no later than XX/XX/XXXX or SPS would initiate a foreclosure process. See attached letter. We communicated with SPS through our attorneys office, and confirmed that SPS and the investor on this loan refused to even review our modification application. It is clear from these facts that our servicer did not review our loan modification application in good faith or with genuine intent to review our file for loss mitigation. It is clear that our family suffered real and significant hardship which justifies, at a minimum, a good faith loss mitigation review. Our servicer clear refusal to afford us that request is a clear and direct violation of CFPB guidelines. All we request is a meaningful and good faith review of our loss mitigation application, rather than a blanket denial without review. If SPS is unwilling to provide our family a simple good faith loss mitigation review, we request appropriate penalties and sanctions be imposed by the CFPB that prevents SPS and other similarly situated servicers from engaging in bad faith loss mitigation practices in order to deprive homeowners of their right to retain their home. Please initiate a formal complaint against our servicer for these acts, and kindly open an investigation to determine if SPS is engaging in systematic deprivation of rights to homeowners like ourselves who have suffered genuine and significant hardships in connection with their home loans. We applied again with SPS and provided all documents they requested except the taxes. We didn't file XXXX taxes yet and we have until XX/XX/XXXX of XXXX as per IRS special extension due to the hurricanes we kept getting as per FEMA rules. SPS requested the taxes or the tax extension that we filed, we cant file an extension since FEMA & IRS already gave an extension to all residents in XXXX XXXX. Because of this they denied my application to modify my loan and put the existing debt onto the back of the loan. They refuse to give me a new payment amount.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 342XX
Submitted Via: Web
Date Sent: 2023-10-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-29
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue: Trying to communicate with the company to fix an issue with the application process
Consumer Complaint: THIS PREDATORY LOAN COMPANY PREDATORIZED MY DECEASED PARENT 'S AND PICKED UP WHERE THEY LEFT OFF WITH MY BROTHER ( EXECUTOR ) AFTER THEY PASSED AWAY! THEY ILLEGALLY FORECLOSED ON HOME DURING THE COVID19 FEDERAL MANDATED LAW TO " NOT '' FORECLOSE ON ANY HOMES DURING COVID19!!! ONCE THEY ILLEGALLY SOLD HOME THEY KEPT EXCESS FUNDS AND ARE REFUSING TO GIVE THEM TO THE RIGHTFUL HEIRS!!!!!! THEY ARE EVADING ANY " CORRECT '' INFORMATION REGARDING ATTORNEY CONTACT INFORMATION!!!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NE
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-29
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I have been in my home 20 plus years and it was a Conventional loan backed by XXXX XXXX in XXXX. I pay PITA monthly and my interest rate is XXXX fixed. I am on XXXX so I am on the Homestead exemption act for my taxes. The taxes decreased in XXXX to {$1700.00} per year, current on taxes and monthly payments! My homeowners insurance I recently changed to XXXX XXXX and it is decreased now to {$890.00} per year. I paid {$800.00} on XX/XX/XXXX to the escrow account which will sit there! I was told I am short of the escrow shortage {$2300.00} - XXXX paid = {$1500.00} left to pay which they will increase my monthly payment by {$190.00}. They will not connect me to an escrow agent, they told me they will mail out an application to modify the loan? I thought escrow means the monthly mortgage payment that I am paying already should be set up in a third party escrow account and that would pay my taxes! The explanation I was given is because mortgage co had to pay the difference when escrow was short for people who are on XXXX like myself, so the federal government is now requiring the next year to be paid in advance.
Company Response: Company believes complaint is the result of an isolated error
State: OH
Zip: 440XX
Submitted Via: Web
Date Sent: 2023-09-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A