Date Received: 2018-08-07
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Select Portfolio Services is committing fraud to their investors. They are purposely making it impossible to complete the short sale process so they can collect servicing fees. This is a follow up of Complaint XXXX and XXXX. They are purposely making in 100 % impossible to complete a short sale on a property by creating a process that can never be completed. I have called them over 50 times and they fabricate lies and make up requirements daily on needed documents. Someone needs to investigate this company for fraud. They are purposing making it 100 % impossible. They will review the file and ask for the same document 4 and 5 times. We are not talking about any updated documents, the exact same document 4 and 5 times. They claim one moment to have everything and then they claim they are missing a document you have sent them 5 times. Then they will come back and say " well we just got all the documents so we need time to review. '' They constantly go in circles and they do this 100 % on purpose so they can stall or kill the deal in order to keep receiving servicing fees. I am a XXXX, I am highly educated and not a stupid person. This company is committing fraud on their investors. Todays example : After 45 days of repeated stall tactics They told me on the XX/XX/XXXX they had every document. I have called them every business day since XX/XX/XXXX and they have told me they need time to review. Today XX/XX/2018 I called and asked for a supervisor and their ombudsman named XXXX XXXX. She told me today after waiting 2 weeks that they need the listing agent ( me ) broker opinion of value. I told Mrs XXXX that I have supplied this document 5 times. Yes 5 times. This is exactly what I have been filing complaints to the CFPB. She then open the file and says, " oh here it is '' and proceeds to tell me it will now take 72 hours to confirm they have the document at the short sale department. They are doing all of this on purpose. They are defrauding their investors because they want to collect servicing fees and don't care if the deal closes. Their only motive it to make sure no one can close a short sale. It is imposable. I have been working on this since XX/XX/2018. They are committing fraud. Please investigate this company. I have submitted similar complaints to the Federal Reserve. Please investigate.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-08-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-06
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: It is with great fraustration that I continue to try save this home. I owned this home with XXXX XXXX XXXX XXXX XXXX XXXX XXXX, New York XXXX. I am on the deed. My name is XXXX XXXX, I reside at XXXX XXXX XXXX, XXXX NY XXXX. The subject property is XXXX XXXX XXXX, XXXX, New Jersey ,XXXX. This property was occupied by Mr XXXX and shortly after with out my knowledge was rented [ and I found out that is in foreclosure. I have called SPS various time asking they give me the opportunity to save the home and the have not wanted to speak with me. They have rejected my phone calls and continue to proceed with foreclosure. MY name is on the deed. There are no tenants in this property. I am pleading for SPS to allow me to do a work out plan to save the property. I was not aware of this situation. Please advice of what can I do. I have done a lot of credit cleaning and now this is going to pull me back.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 070XX
Submitted Via: Web
Date Sent: 2018-08-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: It was recommended by my foreclosure prevention counselor at XXXX XXXX XXXX XXXX, a HUD approved Counseling Agency to file this official complaint to protect myself and my home. I would like to file a formal complaint against XXXX XXXX and Select Portfolio Services for not providing me with a detail cost breakdown of the cost associated with the balloon payment they say I owe and is due on XX/XX/XXXX. I would also like to file a formal complaint against Select Portfolio Services for not providing Keep Your Home California with any information about my balloon payment and therefore not allowing me to receive the full assistance available to me. I have asked in writing twice for this breakdown and have not been providing sufficient documentation which details how they arrived at the total sum. XXXX XXXX XXXX XXXX has recently stepped in to try to secure the information I have been requesting. The information I have received is attached. My loan was abruptly transferred from XXXX to XXXX in XX/XX/XXXX in the midst of a loan modification I had recently finalized with XXXX. XXXX officially became the servicer of my loan in XX/XX/XXXX. XXXX then transferred my loan to Select Portfolio Services in XX/XX/XXXX Since the modification, I was never late on my loan payment. In XX/XX/XXXX, I was abruptly laid off from my job. I was receiving unemployment and seeking employment. In XX/XX/XXXX my husband secured a job. In XX/XX/XXXX my husband had XXXX and spent 10 days in XXXX. In XX/XX/XXXX we all of a sudden had NO income. Through help with XXXX XXXX XXXX, we applied to Keep Your Home California as was approved in XX/XX/XXXX for 18 months of payment of payments due to our unemployment. At that time I was two months back payment on my loan. Although Select Portfolio kept trying to tell me to come through them for a modification. This time I knew better. In XX/XX/XXXX, after checking with Select Portfolio to make sure everything was fine. I asked my Select Portfolio Services about the balloon payment, I was told that I did not have a balloon payment. I told him to please check, because I did not want any surprises. After about an hour on the phone, he came back and said that I did have a balloon payment, but it was buried and he did not see it. I asked if Keep Your Home California was notified and he said that he did not know because it was buried. I called Keep Your Home California and told them what happened, they said they have no records from Select Portfolio Services that there is a balloon payment. I was told that if they had know, they would have been able to provide me with greater assistance, because it is only 18 months away and a large sum of money. I was also told that since my file was closed, there was nothing else to do, but wait until XX/XX/XXXX. As of XX/XX/XXXX, Keep Your Home California is closed and no longer providing financial assistance to California residents. Below is a detailed breakdown of that has taken place. If you have any question, please contact me at anytime. I refinanced my home through a XXXX Community Reinvestment Act loan in XX/XX/XXXX with for a 15 year mortgage at 4.625 % interest, My maturity date was XX/XX/XXXX. In mid XX/XX/XXXX, due to a dramatic reduction in business, I was two months late with my mortgage payment. I was working with a XXXX Home Retention Specialist and also with XXXX XXXX XXXX. I applied and successfully received a modification for my home loan around XX/XX/XXXX. I made my first modification payment in XX/XX/XXXX Although I had made my first modification payment with XXXX ( attached ). I was informed by XXXX through a letter that my loan was being transferred to XXXX, but the modification will still be in effect. Everything went down hill from this point on. XXXX refused to honor the modification and refused to accept any modification payments from me. They told me I had to reapply again. I applied for a HAMP loan through XXXX in XX/XX/XXXX and Keep Your Home California. Keep Your Home California denied me because I have a modification withXXXX. Although XXXX knew, I did not know that if I accepted a modification with XXXX that I could not receive assistance from KYHC. I have not received any other written documentation about the terms of the modification. When I ask, they told me they would send it when I finish my trial plan. The only thing they did tell me was that at the end of 6 years I would owe {$52000.00} balloon payment. XXXXdenied me for the HAMP and have offered me an internal modification. They said unless I accepted there new modification, They were going to foreclose on my home. Under duress and the threat of losing my home, I signed the paperwork which included a balloon pyament. They did not extend my terms. My interest rate is still 4.625 and it is still due on XX/XX/XXXX, but they say I have a balloon payment. They have not told me the amount yet. But, a counselor said it will probably be around {$52000.00}. They won't know for sure until I complete my trial payment. They will then send me paperwork and I can choose to sign it or not. XXXX approved me for a loan, but it has a balloon payment f {$52000.00} in six years. I asked them for an amortization sheet and they said because it is a modification, they don't have to do it. I was also told that I was not allowed to make payments on it or pay it off early. The said my loan is not a negative amortization loan, but I could not understand where all of my payments went. In the new loan payment, they reduce my mortgage payment by {$300.00}. My issues is the original modification with XXXX was only 2 months behind. When I left XXXX XXXX, I would have been finished paying my home off in XX/XX/XXXX. I don't understand how at the end of this time, I will still owe {$52000.00}. I was in a CRA loan and they put me in this type of loan ... .very bad ... and great possibility to lose my home in six years or enter sometype of new loan withXXXX. I think that is what they are planning. It will then again be a desperate situation they have caught me in. I don't expect to have {$52000.00} in XX/XX/XXXX. I don't know how XXXX or Select Portfolio has arrived at this number, since the balloon payment notification I signed does not state a specific amount. Again, I have asked for this information since the beginning of the modification in XX/XX/XXXX until now and I have never received the information I am requesting. My home is currently worth over {$500000.00} and I only owe the balloon payment. I feel that XXXX XXXX XXXX and Select Portfolio Services understand the value of my home and are actively not providing me with verification of the total amount owed, so that there is a great chance my home will be foreclosed on. I have no place to go, so I am going to fight to keep my home. Select Portfolio Services continues to insist that I make arrangements with them for a modification, even though I have told them that per Keep Your Home California, if I make any arrangements with them my assistance will be revoked. I am two months behind in my payments, although I have the money to pay it, the way that Select Portfolio Services is listing it, it will seem like I have no need for the Keep Your Home California assistance and my assistance will be revoked. Again, I truly feel these two financial institutions are doing everything in their power to have Keep Your Home California revoke my assistance and therefore I will be unable to make my payments and therefore my home will be foreclosed upon. If it had not been for my basic knowledge as a former nonprofit XXXX XXXX XXXX to bring XXXX XXXX XXXX XXXX into the loop for assistance, XXXX would have stolen my home like they did many of the homeowners during the XXXX-XXXX. I also fault XXXX for dumping my loan into a company that would not honor the modification and then refusing to provide me with any assistance to clear up the manner. I understand that I my situation is not unique and XXXX, Select Portfolio and other financial institutions and servicers are preying on low income homeowners who are desperate to save their homes and themselves from homelessness.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91103
Submitted Via: Web
Date Sent: 2018-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-06
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: When we got modification in 2015, during process I lost my job, but my small income was included to modification process. After we received modification, I told SPS that I lost my job and considered to recalculate our payment, but agent told me to either take SPS offer or sell home. We wanted to save our house, and we had tried to pay mortgage every month. Our mortgage got behind again about 2~3 months payments this year, and currently I still do not have job because I need to take care of XXXX children, it is not easy for XXXX and woman who is getting old to find a job. My husband has XXXX XXXX on his XXXX and limited mobility, but trying to pay mortgage. So SPS suggested to apply modification again, and I submitted all of documents around XXXX and XXXX and waited for response. SPS kept calling and left agent 's name and phone number almost every day, but they did not leave any detail. I called SPS to find out the result, but when I called in XXXX, they told me that they did not receive some documents which I submitted through email, and bank statements were old which was current when I submitted in XXXX. SPS never give me any update of modification and I only received every day phone call. I was told from a lawyer I found on some website, and he told me that SPS will never work with you to modify our mortgage. I was terrified. I want to keep our house and I don't know what to do with our limited income. Please help us.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91775
Submitted Via: Web
Date Sent: 2018-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-04
Issue: Took or threatened to take negative or legal action
Subissue: Seized or attempted to seize your property
Consumer Complaint: This is an ongoing dispute with a Mortgage Service company that is intent on foreclosing despite my good faith and will towards this company. We have remained in contact, our income and jobs have changed for much better, we currently have no problem paying either the mortgage or a significant increase for modification, and this provider continues to deny modification and uses inappropriate and deceitful practices to push forward with trying to take my home. Everytime we submit a resolution or documents they wait till the last moment to then say they did not have important signatures or something was not checked or crossed off. We need help.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77354
Submitted Via: Web
Date Sent: 2018-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I received a check from my homeowners insurance for a roof replacement. The check was forwarded to Select Portfolio Servicing , Inc. in XXXX XXXX XXXX, UT for their endorsement. When the check was not returned in a timely manner, I submitted a complaint. The check was received a few days later, however, I received a phone call from SPS stating that the call was an attempt to collect on a debt. I have never been late on my mortgage payment in the 14 years I have owned my home. The caller then stated he was trying to get updated information. I complained to SPS via their ombudsman about the phone call and received a letter ( attached ) that addressed the check, which was handled. As to the communication problem, there was no verification that I was not late on any payment and, further, that I had a payment due XX/XX/XXXX and I should contact the company. Page two ends with the statement that the letter is an attempt to collect on a debt. I feel that SPS is making an attempt to commit fraud and take my house in a foreclosure. Clearly, I am being harassed by them and believe I should begin legal action to protect my property.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 76549
Submitted Via: Web
Date Sent: 2018-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Before passing away, my Mother quitclaimed her property to me in XX/XX/XXXX. In early XX/XX/XXXX ; I began experiencing financial difficulties and the mortgage went into default. Over a period of one ( 1 ) year ; from XX/XX/XXXX to XX/XX/XXXX, I have repeatedly submitted loan modification applications to the loan servicer and I have always submitted the follow-up documentation timely ; with fax confirmations as proof. I have received a denial of all of these applications due to conflicting reasons as given by the servicer : 'insufficient documentation ' or 'no loss mitigation options available '. The last denial I received was on XX/XX/XXXX ; which I am currently appealing. As I await the results of my appeal ; the servicer has informed me that the foreclosure sale is still moving forward.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94561
Submitted Via: Web
Date Sent: 2018-08-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-02
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I got divorced in XX/XX/XXXX, so I had a reduction on income and had a Loan Modification around XX/XX/XXXX, through Select Portfolio Servicing. My interest Rate was at a non-fixed rate, so they fixed it at 8.75 %. They also reduced my payment by {$400.00} while they were doing the Loan Mod. A couple months later when they fixed my interest rate, they said that's all they could do to help my payment went back up to the Regular amount it was before I called about a Loan Mod. They reported me to the Credit Bureau as late during those 3 trial months of the Loan Mod. I have noticed that only around {$35.00} a month was going toward my principal each month, so a couple months ago I called them to get a amortization Schedule to see when more would go on the principal. I purchased the house in XX/XX/XXXX for {$150000.00} now in XX/XX/XXXX .... 12 years later I still owe {$140000.00}. I knew something wasn't right. The person I spoke with at Select Portfolio told me they couldn't give me an amortization schedule because I was on a Balloon Payment and they I better hurry and start making extra payment because I will still owe around {$100000.00} at the end of my 30 year note! I told them I never would have agreed to something like that and the home mod was suppose to be helping me, how was that helping me?! I asked for them to send me paperwork stating all of this and they still haven't sent me anything, that's been a few months ago now .... I am confused and feel I need to sell my house to get out from under this terrible scam they are doing. I need help.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OK
Zip: 749XX
Submitted Via: Web
Date Sent: 2018-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-02
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I obtained my mortgage in XXXX and remained current until XXXX, when I experienced some financial difficulty and subsequently applied for and received a loan modification late that same year. I experienced temporary financial difficulty again in late XXXX by way of my father 's illness and subsequent passing in XX/XX/XXXX. I attempted to begin payments again that same month ( XXXX ) but the payments were refused ; I was approximately {$7000.00} in default ( with lender+ trustee fees ) at that time. Since XXXX, I have attempted 4 times to submit a 2nd request for mortgage assistance ; I was repeatedly asked for more documentation each time, then informed on XX/XX/XXXX, that I did not qualify, although my earnings have remained the same and I have the means to cure the arrears through a modification. I initially applied in XXXX and throughout the back-and-forth ; the arrears have continued to increase.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 936XX
Submitted Via: Web
Date Sent: 2018-08-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-08-01
Issue: Took or threatened to take negative or legal action
Subissue: Seized or attempted to seize your property
Consumer Complaint: I am in receipt of Select Portfolio Servicing ( SPS ) response dated XX/XX/18, which was not received by me until XX/XX/18. SPS continues to be in violation of 12 CFR Part 1024 ( Regulation X ). They have not sufficiently responded to my error notification and qualified written request for information, which is dated XX/XX/2018 and XX/XX/2018. In fact, they refused to answer many numerous questions and address my concerns. See attached documentation. SPS continues to misrepresent the facts and continues to avoid answering my QWR 's with truth and completeness.
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-08-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A