Date Received: 2023-08-25
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I received mortgage statement, for payment due XX/XX/, and it contains an assessment of {$22.00} indicating I paid a short payment for the XX/XX/XXXX payment. I NEVER received a statement indicating a payment due amount of XXXX. The only statement received, and paid on XX/XX/, was for {$1900.00} and this amount agreed with an earlier letter from Select Portfolio Servicing , Inc. ( SPS ) stating that the payment due for XX/XX/XXXX would be {$1900.00}. It can not possibly be legal or proper for ( SPS ) to retroactively increase the amount due for XX/XX/XXXX after payment has already been made.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Select Porfolio Servicing received Hardest Hit Fund which is Government Funds in the total amount of {$60000.00}. The Funds were to be used towards the principle balance to assist the borrower.. Select Porfolio did not apply any funds to the principle balance which Select Porfolio Servicing failed to do so instead kept the funds. Where is the {$60000.00} that SPS finance received? The XXXX assistance were supposed to be used for that purpose, thereby reducing the loan-to-value ( LTV ) of the first mortgage to no less than XXXX XXXX. This is done to help effectuate a recast of the mortgage, which lowers the monthly payment to better correspond to the market value of the home. XXXX assistance is paid directly to the loan servicer/lender for those homeowners deemed eligible to participate in the program. I was eligible for this program and Select Porfolio received those funds. XXXXXXXX XXXX XXXX XXXX has been informed and there is an open investigation as to where those funds went. SPS Finance is noncompliant as to where did the funds go and why weren't the funds applied to the principle balance. I will continue to file complaints until Select Porfolio Servicing or XXXX comply to what was done with the Government Funds.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33556
Submitted Via: Web
Date Sent: 2023-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-24
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Keep raising mortgage payments, claiming escrow is low or depleted because of taxes and insurance. First, it was water bill, than it was analysis every 2 years now it reserves escrow!!!! Select portfolio services!!!!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 21224
Submitted Via: Web
Date Sent: 2023-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The beginning of XX/XX/XXXX I contacted SPS regarding the cancellation of my PMI ( {$290.00} ). On XX/XX/XXXX I was sent paperwork from SPS regarding the process. I was to complete a form and provide a cashiers check or money order for either {$450.00} for an appraisal or {$120.00} for a BPO of my property so that current value could be assessed. On XX/XX/XXXX I obtained a cashiers check in the amount of {$120.00} ( check # XXXX ) for a BPO. This check and the required form were mailed ( on XX/XX/XXXX ) to SPS at the address they provided : Select Portfolio Servicing, ATTN Private Mortgage Insurance Department, XXXX XXXX XXXX, XXXX XXXX XXXX UT XXXX On XX/XX/XXXX I reviewed my account online and saw that there is a section titled escrow-insurance that stated my LTV on my home was 52 %. I contacted SPS for an update on my request to cancel the PMI and I was told that they had not yet received my check or form. I found this odd since the last 2 mortgage payments I made were made by check and they were sent and received within 5 days. However I decided to give it a few more days. While on the phone with the SPS agent I asked how they determined my LTV at 52 %. The agent informed me that SPS had conducted a BPO on my home in XXXX of XXXX. The current value of my home was estimated at {$580.00}, XXXX at that time. I explained that clearly the LTV guidelines for canceling the PMI had been met by their own records. On this day I had also faxed and emailed SPS a copy of the form that they needed in order to proceed with the PMI cancellation. This form was emailed to XXXX and faxed to XXXX. It was emailed and faxed twice. On XX/XX/XXXX I called SPS again to see if they had received the cashiers check and was told they had not. I made the decision at that time to contact my financial institution and place a stop payment on the cashiers check. It seemed that the check had been either lost or just misplaced by SPS and also SPS had already done a BPO on my home in XXXX. According to the XXXX XXXX website, a BPO is good for 120 days. It has not been 120 days therefore the BPO that was ordered and completed by SPS is still valid and should be used in the consideration for removal of the PMI. On XX/XX/XXXX I received a call from SPS indicating that my request to cancel the PMI had been closed due to insufficient information. I explained that they should have received the form they required and that they have the BPO on file and there was no reason to close out my request. I was then able to speak with a supervisor who assured me that the request was still open and being processed. I called SPS again on XX/XX/XXXX for an update and was told that they had reached a decision and the request was closed. I waited for a letter regarding their decision and did not receive anything. Therefore I contacted SPS again this morning ( XX/XX/XXXX ) and was told that my request to cancel the PMI had been closed as they have not received the required information. That I have not sent them the funds for a BPO or appraisal and again I argued that there was no reason to send {$120.00} for a BPO since one was already done by SPS in XXXX and is still valid. According to SPS own records the current LTV on my home is 52.4 % which is far below the required 78 % LTV for PMI removal consideration. Our payments are current and up to date with no late payments on record. Despite SPS stating that in order to meet their payment history for PMI cancellation your mortgage account must not have had any payments sixty ( 60 ) or more days past due within two years AND no payments thirty ( 30 ) or more days past due within one year of the later which contradicts the Homeowners Protection Act of 1998 which states that good payment history is defined as not made a payment that was sixty days or more past due within the first twelve months of the last two years prior to the cancellation date OR has not made a payment that was thirty days or more past due within twelve months of the cancellation date. I am writing you as I feel that yet again SPS is doing everything in their power to prevent me, the consumer, from having the PMI from my mortgage account cancelled. My account meets all the necessary criteria for PMI removal however SPS wants to find every reason or excuse they can to prevent me from having the PMI removed. There is absolutely no credible or logical reason as to why I would need to send SPS a cashiers check for {$120.00} for a BPO that they themselves conducted in XXXX. This BPO is still valid and accessible to SPS. I am requesting your assistance to rectify this situation. I have provided the following information for your review : 1. The original letter and form sent to me by SPS on XX/XX/XXXX indicating the steps needed to take in order to initiate the PMI removal process ( 3 pages ) 2. A screenshot from my online account with SPS which is dated today, XX/XX/XXXX. This shows that SPS has my current LTV at 52.54 %, which again, is far below the required 78 % LTV for PMI removal. 3. The form needed by SPS to show that I am requesting the removal of my PMI and that I believe I meet the current LTV requirements. Also provided are the 2 fax confirmations that the form was sent to SPS 4. Receipt that I stopped payment on the cashiers check that I had originally sent on XX/XX/XXXX to SPS to pay for the BPO. That again, this was stopped due to concern that it was possibly lost or misplaced and also stopped after the fact that I found out SPS had already conducted a BPO. 5. Evidence that per the XXXX XXXX website, a BPO or appraisal value is valid for 120 days from the date the initial valuation product is delivered to the servicing management default underwriter 6. A screenshot from my XXXX credit report showing that my payment status with SPS is open/never late. That this is based on a 24 month payment history 7. A section of the HPA of 1998 that defines good payment history.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NV
Zip: 89123
Submitted Via: Web
Date Sent: 2023-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: ONSUMER FINANCE.GOV CONSUMER FINANCE.GOV XXXX AL XXXX CONSUMER FINANCE .gov XXXX AL XXXX XXXX Dear Sirs : I wish to file a complaint against the company SELECT PORTAFOLIO SERVICING INC for the following reasons Currently the company BUSINESS XXXX XXXX XXXX maintains a mortgage loan with the company SPS which is paid on time every month. On XX/XX/2023, SPS sent me a letter stating that due to an analysis of my account, an excess deposit in guarantee of {$4400.00} has been determined and that they will return it by means of a check to the address that they have in their database ; However, the address was wrong and the check never arrived and according to them they canceled it. From that date I began to call XXXX XXXX XXXX to coordinate the delivery of the check and correct the address, however it was very difficult to follow up on the check because the company indicates that it only sends checks by public mail and there is no way to follow up or check if they really sent it, they do not show any evidence of the issuance of the check or the shipment, so it has been more than 4 months that I call constantly and communicate with different advisors who lie and give me different versions and the check does not arrive to my power despite the fact that I have changed the address and it is constantly verified, in recent days I have talked with supervisors to see if I can get them to comply with sending the check but it has been useless because there are also several supervisors who do not comply with sending the check with a tracking number for which the check is lost and they cancel it without consulting me and we come back from scratch and I do not receive the check. For these reasons, I want to denounce the company SELECT PORTFOLIO SERVICING INC for improperly withholding the guarantee deposit in excess of {$4400.00}, not properly informing the sending of the check showing evidence of the issuance of the check and the sending of the check and, above all, showing a tracking code to be able to track the check and the constant misinformation given by your staff. Due to the attitude of the company, I consider that their intention is not to return the amount indicated, for which I appeal to you to contact them and indicate the reasons why they do not comply with sending the check with a shipping code and if necessary I can assume the cost as already indicated Sincerely
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-21
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: On XX/XX/2023, XXXX XXXX purchased a residential property through a foreclosure auction conducted by XXXX XXXX XXXX FL. I paid {$390000.00} at auction, and have incurred several thousand in additional costs maintaining the property since then. Two weeks after the sale I received a recorded certificate of title. All of the County data bases show XXXX XXXX as the current owner. After the purchase I tried to buy title insurance, but the new title search found a XXXX XXXX, for which XXXX XXXX was the trustee. I contacted XXXX XXXX in early XXXX to learn about the mortgage. They referred me to XXXX XXXX XXXX. I was having talks with XXXX XXXX XXXXXXXX when I got a letter from XXXX telling me I should be talking to Select Portfolio Servicing ( SPS ). SPS refused to talk to me because I was not on the loan. I sent them my documentation several times. I called them approximately 30 times. They eventually agreed to tell me how much the payoff amount. After receiving the payoff letter, I sent them a proposal to settle the matter. No reply until I called last week. But, checking for mail at he property, I found numerous letters from foreclosure attorneys, all addressed to the PREVIOUS owners. That made me suspicious, so I checked the court records and found a new foreclosure against the property, initiated in XXXX, but filed agains the PREVIOUS owners. The XXXXXXXX XXXX XXXX in XXXX, filed the new foreclosure on behalf of XXXX XXXX as Trustee to XXXX. As I said at the outset, XXXX XXXX is the owner of record in the County systems. No competent title search could have missed that. So the omission must be deliberate. So, either they have been dealing with me in bad faith for the past 6 months, or they were deliberately trying to engineer a new " arms-length '' sale to dissolve my ownership interest. I have called the XXXX XXXX XXXX there times. They have not returned my calls. I sent the attached documents to the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33436
Submitted Via: Web
Date Sent: 2023-08-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/2023, I phoned Select Portfolio Servicing XXXX Inc. to request an updated escrow analysis to reflect the significant permanent decrease in the property tax for my home. The property taxes decreased by {$1800.00}. I followed their instructions to email my request and attached the official tax document showing the lower property tax amount. I did so on XX/XX/2023. Since that date, I have emailed my request again ( XX/XX/2023 ) and I have phoned them on five ( 5 ) occasions- XX/XX/2023, XX/XX/2023, XX/XX/2023 and twice on XX/XX/2023. On each occasion, a different excuse was given and a different time frame as to when my request for an updated escrow analysis would be completed. The decreased property taxes should reduce my monthly mortgage rate. Given the current rate of inflation, any decrease in my monthly mortgage expenses would be greatly appreciated. Thank you in advance for your assistance in getting them to respond to my request.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30122
Submitted Via: Web
Date Sent: 2023-08-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: According to a statement that I received in XXXX, my escrow account had an overage of over {$11000.00}. My taxes and insurances have been paid. I was told I would be issued a check within 30 days. According to the company, a check was issued on XX/XX/23, however this was voided. I was initially told it was returned via the mail ( although sent to the correct address ) then subsequently told it was written for the wrong amount and they actually owed me ~ {$15.00} dollars (? ) more. A new check was being issued and it would be arriving in 10 days. I have called several times since then and have received a variety of answers- had to go through a second verification; making sure all bills were paid on the property ; escrow department needing to approve. As of today, XX/XX/XXXX, the check has not been issued. No one can tell me why. I have made several calls. This is a substantial amount of money and, to be quite honest, I am concerned about this company. Our mortgage was sold to SPS by XXXX XXXX, so did not choose them.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 168XX
Submitted Via: Web
Date Sent: 2023-09-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-17
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: During the first week of XX/XX/2023, I called SPS and asked for my Re-Occuring ( ACH ) payments scheduled on the XXXX of every month to be removed as I will make the payment online myself. So, I made my payment online on XX/XX/XXXX or so. The next thing I know is SPS also deducted my monthly mortgage payment from my bank account, so I was charged twice for the same month. I had no choice but to call my bank to reverse the payment. Then, SPS considered this as an NSF on my payment history for the month of XX/XX/XXXX XXXX ( this is not fair ). Ironically, the same exact thing happened again in XX/XX/ ( my bank account was debited twice for the same payment. Although, I did call during the first week of XX/XX/ and advised SPS to please cancel my SUTO pay. I requested an investigation by their Customer Advocate Team and the results were not acceptable. Does SPS claim that they have no record of me asking for the Autopay to be canceled? really? why would I make a payment knowing that I have Autopay scheduled?
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92688
Submitted Via: Web
Date Sent: 2023-09-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-17
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/2023 Select Portfolio Services DBA " SPS '' purchased the mortgage servicing of my loan from XXXX XXXX XXXX XXXX " XXXX XXXX ''. Since that time, SPS has sent me incorrect statements, incorrect collection letters, and threatened/started foreclosure proceedings ( Validation of Debt Notice dated XX/XX/2023 ). SPS has been notified of their errors ; however, they forced me to pay the incorrect amount on XX/XX/2023. The errors stem from a gross lack of due care and due diligence by SPS ' acquisition department. My previous servicer, XXXX XXXX, processed a Covid forberance program and loan modification - SPS did not take those into account in their statements or collection actions- and have not corrected their online or voice response unit for my account. SPS should process my loan modification, stop collection actions, and pay for the defensive responses I have made due to their incompetence.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TN
Zip: 37027
Submitted Via: Web
Date Sent: 2023-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A