Date Received: 2018-08-28
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Per Select Portfolio ( SPS ), XXXX XXXX the investor of our mortgage loan is not willing to offer us any foreclosure nor home retention options. Therefore, we are submitting this complaint against XXXX XXXX as they are ultimately the final authorization in approving our request for assistance in which they have denied according to SPS. We would like to make XXXX XXXX fully aware of Select Portfolios failure to service our loan fairly and accurately in which they state it is the investor XXXX XXXX has made the final decision to not offer us any help. We submitted a complaint to Select Portfolio dated XX/XX/2018 in which they failed to respond to in full. SPS fails to acknowledge a short sale option dated XX/XX/2018 offered to us, which, we submitted the short sale paperwork on time by the due date XX/XX/2018. We submitted the paperwork on XX/XX/2018 and received an email receipt confirmation from SPS of the received paperwork. In addition, we received several correspondence as follows verifying receipt of the short sale paperwork : SPS letter dated XX/XX/2018 states SPS received paperwork and it was being directed to the appropriate department for handling ; SPS letter dated XX/XX/2018 states a foreclosure sale date was scheduled for XX/XX/2018 ; however, it further states SPS was still reviewing us for foreclosure prevention ; XX/XX/2018 letter states the foreclosure sale was postponed until XX/XX/2018 while SPS continued to review us for foreclosure prevention assistance ; XX/XX/2018 letter states the sale was cancelled while they review us for foreclosure prevention ; XX/XX/2018 letter states SPS now consider our assistance request withdrawn because we were offered a streamline repayment plan, but did not accept the offer of loss mitigation assistance by the established deadline. This is where SPS fails to acknowledge that with the streamline repayment plan came a short sale option if we decided to opt out of the repayment offer, which we did opt out of and submitted the short sale option instead, which was an alternative option offered in that letter, in which all the above mentioned letters from SPS support that we submitted the short sale paperwork on time. We had no choice but to refuse the streamline repayment plan and choose the short sale option due to the high repayment plan offer of {$6900.00}. SPS was setting us up for failure with this option as our total gross income is {$8500.00} per month, which is not affordable considering other household expenses and children. In addition, our interest rate has continued to be adjustable and is currently over 7 %, which SPS has never addressed. If you read SPS response to our complaint they bypass the short sale submitted XX/XX/2018 and they show no response toward that short sale we submitted, they have failed to address this important factor and foreclosed during the process of reviewing us for that short sale, which is dual tracking. They deny dual tracking when the evidence is clear and they continue to disregard this short sale that was under review and offered to us on the streamline repayment letter. We request a response directly regarding this short sale submitted on XX/XX/2018. SPS has now set a new foreclosure sale date for XX/XX/2018 and have stated that they are unable to offer us any foreclosure options, stating that XXXX XXXX the investor is not participating in any government funded programs and is unwilling to offer us any foreclosure prevention options stating we have no other options. SPS has failed to accurately and fairly review us for home retention/foreclosure prevention options as well as XXXX XXXX negligence and unwillingness to help us in a fair and lawful way. We request a fair review.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91352
Submitted Via: Web
Date Sent: 2018-09-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-27
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: To Whom It may concern, I XXXX and XXXX XXXX, would like to formally complain about my mortgage servicer Select Porfolio Services. I submitted my complete application for mortgage assistance about 3 months. I keep following up and I speak to many people seems that no one knows whats going on. They've been give me the run around transferring me all over the place. Finally today, they told me theres no time to review and that I hand a sale date set for XX/XX/2018. As you can see, I've been bounced around given wrong information not just by rep but by managers. They then said that my case was handled wrong and that he was sorry but that my house will go for sale. I explain that I have a family and that we are going to be in the street but he did show any sympathy towards my situation. I stated to him that I do not want to lose my home that's all we have and that I will be thrown out with my family and no place to stay he he did not care I felt very discriminated at that point. I don't understand why they would ignore my application all this time and they waited to get close to a sale date to tell me they didn't review my application. I ask why is he treating me like that I don't deserve to be treated fair like everyone else its clear to me that you are discriminating me he disconnected the call and left me with words on my mouth. They are not even allowing me to appeal. All I'm asking is a fair review and for my sale date be postponed so they can get a chance to review my package and review my current situation with and to stop discriminating me. If this does not go anywhere I am going to seek legal advice to see if I can sue my mortgage company. I give permission for Consumer Financial protection Bureau to speak on my behalf and get to the bottom of this I am scare to call my own mortgage servicer now.Please, help me I do not want to be thrown out on the street with my family. Yours truly, XXXX and XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92335
Submitted Via: Web
Date Sent: 2018-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX, my wife and I took a mortgage with XXXX XXXX XXXX in the amount of {$80000.00}. The loan had a 15 year amortization schedule, maturing in XXXX XXXX. After XXXX was acquired, the loan was sold to XXXX and is currently being serviced by Select Portfolio Servicing , Inc ( beginning in XX/XX/XXXX ). Our original agreement with XXXX included the purchase of joint liability credit insurance and we paid those insurance premiums each month. In XX/XX/XXXX, I suffered a severe XXXX that caused me to be unable to work. When we requested insurance relief through this XXXX policy, we were told that we never purchased the insurance, despite the fact that we had payment statements that noted the portion of our monthly payment that went to the insurance premium. During my rehab, we requested payment assistance and we were provided with a forbearance for a number of payments over the course of that year. The total amount of deferred principal is {$2800.00} ( 4 payments ). We never signed an amendment to our loan nor any forbearance agreement. What we did not know, and were not informed of, is that getting relief on these payments resulted in {$11000.00} of deferred interest being added to the principal of our loan and for the last 8 years it has continued to accrue interest on top of that. Now, after 15 years of paying down this loan, we were informed by SPS that our outstanding balance was {$29000.00} almost 40 % of the original balance when we expected the balance to be nearly paid in full ( except the payments we requested relief on ). This payoff amount includes the {$11000.00} of deferred interest that was never disclosed to us in any form. Had it been disclosed, I would have been able to decide if we even wanted the deferred payments or if we would come up with the payments in some other way. We can not afford to pay off this amount and we are concerned that we are going to lose our home. I requested all of the documents that were part of our mortgage loan file from SPS and they were unable to provide me with any documentation regarding the deferred interest and had very little information regarding our loan at all ( they couldn't provide the original note agreement nor most of the file from before they acquired it ). They were also unable to provide any documentation regarding the joint liability credit insurance. I am XXXX years old and a XXXX XXXX veteran. SPS 's collection activity is deceptive and unfair and I think they are trying to take advantage of me because I am elderly. Despite the fact that SPS can not provide any documentation regarding this deferred interest and other fees that have been added to our account over the years, they have stated that they can't do anything about this outstanding amount.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WV
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: 1. I pay 12.5 % interest rate, {$1300.00} going to interest and only {$77.00} to Principal by SPS inc. or Select Portfolio Servicing inc. TOO MUCH!!! TOO MUCH!!! 2. Not able to refinance from out of ADJUSTABLE RATE mortgage through SPS inc. or ever for over 15 years of trying and mostly paying on time shows greed and abuse in industry over all in USA!! 3. Minority abuse by SPS inc. should also be examined!! 4. PURE GREED by SPS against us public servants and our kids, consumers period!! 5. the payments made so far to SPS were not reported to credit bureau !! I am a laid off minority person here in Texas and adjusting to making much less money. My wife is a public school XXXX. We continuously tried to refinance but were always denied. Even when i was working steady and paid ontime for 2 years straight ( XXXX ) we could still not get a refinance. The XXXX XX/XX/2018 payment is XXXX XXXX/mth and we have been turned down from Modification twice so far by SPS and are currently under a 3rd review. Please help us to keep our home. Ideally, We want a refinance asap or a modification that is reported to the credit bureau.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77479
Submitted Via: Web
Date Sent: 2018-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX XXXX XXXX XXXX started reporting my escrow account as {$10000.00} in arrears and as a result reported this as late payments on my mortgage to all 3 credit bureaus, because I refused to repay this bogus charge to my escrow account. I spent two years trying to resolve this with XXXX XXXX XXXX with no success. In XXXX XXXX XXXX XXXX transferred the servicing of my Mortgage loan to Select Portfolio Servicing who carried forward this gross error. In XXXX of XXXX I hired a lawyer to represent me in this matter. In XX/XX/XXXX, XXXX XXXX XXXX, Select Portfolio Servicing and I came to an agreement to " resolved this matter '', which I am submitting as supporting documentation. It is important to note XXXX XXXX XXXX has removed this derogatory information. All mortgage payments covering XX/XX/XXXX thru XX/XX/XXXX being reported by Select Portfolio Servicing are not valid and should be removed from my credit report. The result of this reporting has caused serious harm to my credit worthiness.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: 02119
Submitted Via: Web
Date Sent: 2018-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-24
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: PURCHASED HOMES XXXX AND XXXX ON REPAYMENT PLAN AND LOAN MODIFICATION SINCE BANKRUPTCY DISCHARGED XXXX MY CREDIT SCORE KEEPS GOING DOWN, ONLY HAVE 2 REAL ESTATE LOANS, NO CREDIT CARDS OR REVOLVING ACCOUNTS, NO OPEN ACCOUNTS, YET CREDIT SCORE WENT FROM XXXX TO XXXX IT SHOULD BE GOING UP NOT DOWN .... PLEASE ADVISE ME
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94585
Submitted Via: Web
Date Sent: 2018-08-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-23
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: This is about a property foreclosure that was bought back by the mortgage bank at the foreclosure sale in XXXX, XXXX, and which bank turned and listed it for sale on the XXXX ( XX/XX/XXXX ), not realizing the legal property description was flawed, so they were trying to sell property they did not legally, nor rightfully own. I bid on the property and my offer was accepted by the seller in XXXX, XXXX. From the beginning, I questioned the accurateness of the provided property description, and the bank ( seller ) only replied the description provided was " all they had '' in their file. I had to get a survey to find out the provided description was indeed flawed, did not represent the property the bank was trying to sell, therefore clouding the veracity of the title. When the bank was notified of this issue, they immediately cancelled the sale of the property. Their parting words were ( a ) demanding I release MY purchase agreement contract with them ; ( b ) their refusal to reimburse me for all the ( buyer ) expenses I had paid up to that point ( {$2800.00}, not counting my earnest money ) ; ( c ) refusing to give me " first right of refusal '' when they fixed their title issues and relisted the property for sale ; and generally, just disappeared ... meaning, NO ONE representing, acting as agent, representative or trustee for the bank would talk to me, my real estate agent or my attorney from that point on. They either were un-contactable or refused contact. I then set out to research the issue through court, property and tax records, internet searches, background searches and talking to neighbors to the property in question. What I found out is that : - Mr. XXXX XXXX purchased 3 lots, or 1.45 acres of property in XXXX. ( # 's 1, 2 & 4 on attached property map ) - In XXXX, XXXX XXXX XXXX sold to his son, Mr. XXXX XXXX approximately .61 acres of the 1.465 acres - according to the newly surveyed property description attached to the mortgage and warranty deed, which would represent 1 lot, ( # 4 ). - The new survey accomplished for the XXXX sale, was heavily flawed and barely depicts the description of Lot # 4, the .61 acre lot, and shows no resemblance to Lots # 1 & 2. - It seems the mortgage company was under the impression they were providing a mortgage loan that covered ALL 3 lots, the total 1.465 acres, but never verified the correctness of the provided survey. The flawed and uncorrected property description followed the property history through XX/XX/XXXX, when I discovered the inaccuracies. - When the bank foreclosed on Mr. XXXX XXXX 's mortgage in XXXX, they only legally foreclosed on the .61 lot ( # 4 ). In the tax rolls, it reflects that # 4 is owned by the bank and Lots # 1 & 2 are still in the name of the original owner, Mr. XXXX XXXX. - When the bank listed the property for sale, they listed .855 acres or Lots # 1 & 2, which they had no legal ownership over. - Therefore, for all intents and purposes, per the legal description on the seller 's Deed, they falsely listed property they do not own and tried to sell said property to me. I, my real estate agent and my attorney have tried repeatedly to contact the bank ( seller ) or any of its representatives, and no one will speak to us. My attorney offered an informal arbitration opportunity for everyone to get together and work things out so that I could purchase the property legally, but no reply from the seller. The purchase contract the seller provided that I had to sign is totally biased, protecting only the bank and excludes me the ability to go after them legally for any reason. Even though the contract requires I pay most of the purchase expenses, it protects the seller from having to reimburse those expenditures even at the fault of the bank being unable to close on the sale. Their ineptness and incompetence has cost me over {$5000.00} in purchase expenses and legal fees, 9 months of wasted time and energy accomplishing nothing, and the loss of my future home ( which was going to be a XXXX rehab project ). When I thought I was moving and notified my landlord, they allowed me to break my rent-controlled protected lease. But when I was forced to back-peddle and remain in my lease home, the landlord refused to allow me to sign another lease and raised my rent {$350.00} a month! So I have that additional monetary burden to shoulder since XX/XX/XXXX because of this sham real estate deal.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 762XX
Submitted Via: Web
Date Sent: 2018-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I HAVE APPLIED FOR HARDSHIP ASSISTANCE WITH MY SERVICER SPS " SELECT PORTFOLIO SERVICING '' AND WAS RECENTLY DENIED DUE TO IT IS NOT IN THE FINANCIAL INTEREST OF THE INVESTOR OF MY LOAN. I WANT TO BREAKDOWN THE SEVERITY OF THAT STATEMENT. THE REASON MY HUSBAND AND I ARE DELINQUENT IS DUE TO MY BROTHER-IN-LAW WHICH IS THE THIRD CO-BORROWER OF THE LOAN PASSED AWAY WHICH MEANS OUR INCOME FOR THE HOUSEHOLD DECREASED KEEPING US UNABLE TO MAKE THE MORTGAGE PAYMENT AT THE TIME. IN ADDITION, THE INVESTORS FINANCIAL INTEREST IS TO NOT MODIFICATION MY LOAN BECAUSE THEY WANT TO TAKE THE EQUITY OF OUR HOME. MY HUSBAND IS A XXXX XXXX XXXX XXXX MAN AND SPS AND MY INVESTOR THINKS I AM GOING TO JUST LAY DOWN AND LET THEM STEAL MY HOME BECAUSE THAT IS EXACTLY THEIR INTENTIONS. THEY STATED THAT THEIR INTEREST IS NOT HELPING US BECAUSE WE HAVE EQUITY AND THEY WILL RECEIVE A FINANCIAL GAIN BY JUST SAYING NO TO US TO TAKE OUR EQUITY. IT HAS NOTHING TO DO WITH OUR INCOME, OUR FINANCIAL HARDSHIP, DEATH IN THE FAMILY AND THEIR CO-BORROWER JUST MY EQUITY. I AM FILING A COMPLAIN WITH THE FTC, MY STATE ATTORNEY GENERAL XXXX XXXX INFORMING THEM THAT YOU ARE PREYING ON XXXX SENIOR CITIZENS FOR FINANCIAL GAIN. THIS IS COMPLETELY OUTRAGEOUS!! IF YOU THINK YOU ARE GOING TO COLLECT MY PROPERTY FOR YOUR FINANCIAL GAIN YOU HAVE ANOTHER THING COMING, I WILL SUE EVERYONE OF YOU FOR EVERY FRAUDULENT VERBIAGE AND LAW BROKEN.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 11357
Submitted Via: Web
Date Sent: 2018-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Select Portfolio Services has failed to allow me to be reviewed for all potential retention options on my mortgage loan. They received millions of dollars of tax payer money, but have kept me at bay for assistance for over four years. I have been through some very difficult times personally and professionally, but am back on my feet and can make a reasonable mortgage payment, if given the opportunity. I am finding it impossible to engage SPS in a constructive conversation to bring my mortgage loan current. SPS seems to want to help since I continually receive letters from them stating they are interested in helping me with my loan and their representatives seem to be trying to get me into a modification. However, their entire process falls apart and my application process never gets beyond the application stage. I am not sure if their representatives can not get the job done or if their process lacks the structural integrity to get me through to modifying my loan, but I am at the point where I would like your office 's assistance to ensure my requests for help gets through the review process of SPS. I have an assigned single point of contact, but they have blocked every effort I have made to save my home. I have never had a full review of my loan for mortgage assistance options. Life was going very well until I the company I was working for closed its ' doors in XXXX and I had a hard time finding employment. I paid on my mortgage as best I could, but couldn't keep up. I reached out to get SPS to work with me on a modification, but the process went nowhere and they advised me to stop making payments to get assistance. This was bad advice and now I have a foreclosure date on XX/XX/XXXX. I have landed on my feet and am making significantly more income. I also have my husband 's income and our combined income fits into guidelines to qualify for assistance. I want to save my home and I want a review based on my current income. The representative I speak with didn't give me any opportunities or chances to resolve this issue and instead make excuses for why I am not getting a review. I am running out of time and am afraid that the big banks are still rolling through homeowners and putting them on the streets instead of doing the work to help them.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 082XX
Submitted Via: Web
Date Sent: 2018-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: S.P.S. disregards mortgage contract and continues to try to collect funds which are not du. They also are trying to skirt bankruptcy laws by falsely saying mortgage payment was missed. I have a record of bank checks showing every month is paid it is current. They attempt to change the mortgage agreement which states the payment is not late until after the XXXX. Every month is paid yet i recieve statements with the comment it is XXXX. XXXX unpaid. I paiy XXXX every single month. The extra XXXX to go to principal. It is not unpaid. There is no missed payments. This company continues to falsify records to collect extra interest. They purchased the mortgage from XXXX XXXX XXXX and try to change the terms, disregard bankruptcy laws, and falsify records. These images are from same statement multiple dates, one point says behind other says it's not.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 45840
Submitted Via: Web
Date Sent: 2018-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A