Date Received: 2018-03-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XX/XX/2017, I received a notice from Select Portfolio Servicing, that claimed that I was to begin paying them, as they had become my new loan service provider. I initially believed it to be a scam, as it was a generic letter, and I had not received any notice from XXXX XXXXXXXX XXXX, who had been the current servicer. I requested loan documents, and a copy of the note. They sent me an electronic copy printed from their computer, of all the files they had relating to my mortgage, but no " Certified Copies '' of ANY original documents. I repeated my request multiple times, and received the exact same printout 4 times I believe, but still not a certified copy in the mix. They informed me that I could drive 15 hours each way, and view it in their XXXX XXXX XXXX office, where they keep them, and I informed them that they were not complying with R.E.S.P.A., and that they were required to send me a " Certified Copy '' and not just a print from a computer file. Several tries later, I was finally contacted by a man from their Ombudsman office, who agreed that they would send an actual certified copy of the Note, and other relevant documents. This did not happen. I have contacted them several times over the last 8 months, and have met the same exact end, no " Certified Copy '', and their office declaring they have met their obligation. They also changed the impound account amounts as soon as they took over this account, which they claimed they don't do, and increased the amounts by nearly {$150.00} per month, and could not explain adequately why, since there were no changes on the insurance or tax amounts being billed. Claiming that they don't do that until they have had it long enough to evaluate if there will be any shortfalls or overages ... yet they did it anyway. This lead to further concerns on my part. If they can just change things at their discretion, where will it stop? While I am not in default, I have been paying this under duress. I have been trying to work with them, but am afraid that they DO NOT actually possess the " Original Note. '' While this is not a huge issue at this moment, if I continue to pay them until the property is fully paid off, and someone else actually owns, or possesses the actual note, they could not sign off my property, or return the note to me. I could also lose my property to the actual note holder in the future, if they decided that I did not pay, or suddenly decided I owed a tremendous amount of back payments. While Select Portfolio Servicing was legally obligated to provide Certified Copies within 30 days from my request in XX/XX/2017, I am still waiting, and want those copies as requested. If they do not actually possess the required documents, I want the information on who does. Also for S.P.S. to stop collecting a debt they do not legally own.
Company Response:
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-03-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Started with loan modification XX/XX/XXXX, have faxed and faxed and faxed, and SPS always says need something else! Example, first need information from a rental, faxed, then by the time that is faxed, now need updated bank statements, have called once a week and always something new! So paperwork sent now SPS needed a verification of mortgage for another property, ask SPS relationship manager XX/XX/XXXX said need P & L or V O M? Have sent both, the VOM was emailed XX/XX/XXXX and faxed and again emailed and faxed XX/XX/XXXX! Then get a letter dated XX/XX/XXXX said was never sent! ( SEE PROOF ) Said had to disputed so emailed and per letter says have to mail! HAVE PROOF ENCLOSED! This is just 2 proof of how un-ethical and reason not to approve modification, especially since and option arm loan that banks do not offer anymore! Have requested an re-review SPS said too late told them XX/XX/XXXX that paperwork was sent in per there request! This is just one of many items i have proof of! They will refute the complaint but have PROOF of many and this ONE particular proof!
Company Response:
State: CA
Zip: 90275
Submitted Via: Web
Date Sent: 2018-03-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: For the past 10 years or so, Select Portfolio Servicing, the seevicer on my loan has repeatedly lost payments, added additional fees, and has tried to foreclose on my home. When I have requested information of who my note holder or investor is, they tell me it is XXXX XXXX XXXX XXXX. However, when I call XXXX XXXX, they have no record of me or my loan. They have tried using my SSN, Name, and Address. And still nothing. In XX/XX/XXXX, SPS tried to foreclose, but did not have the loan transfer documentation attached. So, in XX/XX/XXXX the forged that document saying it was sold in XX/XX/XXXX to XXXX XXXX XXXX XXXX. The document was not filed in the court clerks office until XX/XX/XXXX, when they tried to foreclose the first time! They make threatening and harassing phone calls. Do not report payments. And give out false and misleading information. My attorney has contacted them several times as have I requesting the documentation which is not accurate. I have even called XXXX XXXX XXXX XXXX on a conference call with SPS to prove that they do not have my loan. So who has my note?
Company Response:
State: OK
Zip: 73071
Submitted Via: Web
Date Sent: 2018-03-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Well starting XX/XX/18 Sps XXXX XXXX is increasing my interest rate on my mortgage from 6.750 % to 7.250 % so that increases my mortgage from XXXX XXXX to XXXX. I feel that's too high of a increase in my interest rate for my mortgage it seems like they're trying to really balloon my payment now and it's going to take me forever to pay off this mortgage loan they have silently increase my interest rate I don't think it's good for me or any consumer that has to pay more than their fair share are there mortgage I pay on time every month with no problem thanks. XXXX XXXX
Company Response:
State: CT
Zip: 060XX
Submitted Via: Web
Date Sent: 2018-03-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-24
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have written at least 15 CFPB complaints about the Servicing Mortgage Company, and no action has been taken. I received a Certified Letter dated, XX/XX/2018, from XXXX XXXX XXXX XXXX, XXXX XXXX, Assistant Vice President informing me that a copy of my complaint has been forwarded to SPS Inc., and that SPS will provide me with a separate response. This issue was elevated by me to XXXX XXXX XXXX XXXX, XXXX, after numerous written attempts directly to Select Portfolio Servicing., Inc. , ( SPS ), for them to provide me with written proof of Real Estate documents, reflecting the Sale/Transfer of the property from XXXX XXXX XXXX , as the XXXX County Georgia Superior Court records only show XXXX XXXX as the owner. According to 15 U.S. Code 1692g - Validation of Debts, this is the Federal Law, and SPS is not complying with the law by not providing me with that inmformation.
Company Response:
State: GA
Zip: 31907
Submitted Via: Web
Date Sent: 2018-03-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Our clients have attempted to obtain a modification with SPS 5 years ago. The Servicer lowered the payment XXXX even though the client 's income reduced by XXXX per month. The clients then decided to short-sale the property after which it was denied due to " information not being provided. '' Our company was contacted to help submit the documentation in XXXX of 2018. We've submitted the documentation to the Servicer and finally got a resolution on XX/XX/XXXX pending UW review. On the XXXX of XXXX, the servicer was contacted to get a status. They indicated they needed " more time '' for underwriting review. On the XXXX of XXXX, the servicer was contacted, and they state they just sent a letter today denying the Short-Sale due to RMA being incomplete. I informed the servicer the RMA was complete and has been submitted XXXX. However, the RMA is in fact complete. The servicer states the " intent '' is not noted in the RMA, however, the proprietary RMA doe NOT have " intent '' section noted in stead it has Section XXXX - the reason for hardship is noted. The Servicer understood and wants until Monday to review the case as we pointed out the inaccuracies in their process. This, however, isn't enough as the foreclosure hold has YET to be placed or the Facially Complete sent out
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 076XX
Submitted Via: Web
Date Sent: 2018-03-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-23
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: This complaint concerns a proposed short sale transaction involving a property, which when the process started was the primary residence of borrowers in XXXX county. This complaint is filed by the law firm representing the defendants/borrowers in the subject foreclosure action. On the year XXXX our office assisted borrowers with a loan modification, which was denied, the servicer was XXXX at the time. After the denial, borrowers decided to short sale the house, it was XX/XX/XXXX when we requested XXXX to initiate the file as a short sale. On XX/XX/XXXX the loan was service transferred from XXXX to XXXX XXXX XXXX ( SPS ). On XX/XX/XXXX our office received an offer, borrowers completed the forms for SPS and we submitted the short sale package to SPS on XX/XX/XXXX. On XX/XX/XXXX, our office spoke to SPS and confirmed that they had all the documents needed to initiate the review. On XX/XX/XXXX our office spoke to SPS for status update and they said the file was under review. On XX/XX/XXXX, SPS requested updated bank statements from borrowers, XX/XX/XXXX, our office sent SPS the requested bank statements. On XX/XX/XXXX, the file was under review again alleging it could take 30 days to review! XX/XX/XXXX file still under review! on XX/XX/XXXX, our office called SPS again, they now needed new documentation and adjustments to the HUD and listing agreement. We submitted the documents, on XX/XX/XXXX. We called SPS and were told they had all documents needed. On XX/XX/XXXX, we called SPS and were told file was under review, it could take 30 days. At this point borrower. On XX/XX/XXXX, filed was denied because of an open insurance claim for a roof leak back in XX/XX/XXXX. SPS closed the file, then reopen because they found out that the insurance claim had been closed ( it was the bank 's who placed the claim NOT the borrower ) for the following 2 weeks, there was no update when we called SPS. On XX/XX/XXXX SPS return our call and informed us that the file was under review again! " no documents needed '' on XX/XX/XXXX SPS informed our office that there were code violations in the property, we informed SPS buyer would take care of violations. On XX/XX/XXXX SPS requested the hardship letter to have the date handwritten, this is the same letter they had from the initiation of the short sale, we provided the requested to SPS the same date. On XX/XX/XXXX we spoke to SPS, the insurance claim issue ( which was closed ) showed up again as unresolved!!! On XX/XX/XXXX called SPS, now they needed an extension to the listing agreement!!! Received the extension the next day and we submitted to SPS. ( EVERY TIME WE SUBMIT A DOCUMENT SPS CAN TAKE UP TO 30 DAYS TO REVIEW ) On XX/XX/XXXX we were again, informed SPS has all documents needed!!! On XX/XX/XXXX, now SPS requested to remove HAFA from HUD, because it has been so long it expired!! ( NO LONGER AVAILABLE ) XX/XX/XXXX file is still under review! XX/XX/XXXX SPS informed us they are waiting on the approval letter. XX/XX/XXXX our office received short sale approval letter, but the 2nd lien holder was not included, we had to go back to negotiating, SPS short sale approval expired. Filed was closed. The usual back and forth with SPS. On XX/XX/XXXX the 2nd lien was approved, submitted the approval to SPS, which has been reviewing the file. In XXXX, SPS requested Listing agreement, MLS and short sale addendum, again. We subimtted right away. On XX/XX/XXXX we were told by SPS file went to underwriting. XX/XX/XXXX offer was rejected, no counteroffer made. Buyer agreed to increase their offer, XX/XX/XXXX submitted adjusted HUD to SPS. On XX/XX/XXXX SPS requested more documents, including third party authorization for the listing agent, which we had already submitted months before. On XX/XX/XXXX listing agent informed us that buyers were considering canceling, due to the uncertainty and the wait, we immediately called SPS to let them know, they said they needed another BPO, on XX/XX/XXXX our office received the short sale approval letter, but buyers were no longer interested and were in the process of buying another property, after waiting 2 years for this short sale. Property back on the market right away, lock box was changed by SPS since it was vacant, borrower moved out of property due to bad roof and mold. On XX/XX/XXXX we submitted new offer to SPS, informed them previous buyer walked, they said they would update their system and had to decline the previous approval to review new offer. XX/XX/XXXX new offer received, file went to underwriting. Called SPS on XX/XX/XXXX for status update, they said there was no short sale file open!!! the agent looked further to find that they have closed the file when declining the previous buyer. She said we had to start from ZERO, apologized for their mistake, file should have never been closed, but there was nothing they could do. Had borrowers complete updated short sale application and provide current pay stubs and bank statements. Submitted new updated documents on XX/XX/XXXX, our office has been told every time, file is under review, same pattern, one day they say they have all the documents they need, the following week they request another document and it takes 30 days for that document to be reviewed. On XX/XX/XXXX SPS told us underwriting was waiting on the assigned agent to send them the file for the 2nd lien, which they now have to make a decision. Today, XX/XX/XXXX we called SPS for update and were told, RMA for 2nd lien is needed. I told them we had already submitted it, so if we resubmit, it will be another 30 days for review until they ask for another document! SPS needs to accountable for the lack of good faith. Borrowers have been trying to get out of foreclosure for close to 3 years now, have provided every piece of information requested.
Company Response:
State: FL
Zip: 333XX
Submitted Via: Web
Date Sent: 2018-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I am trying to negotiate a modification or plan with my mortgage holder Select Portfolio Servicing. I was in an active repayment plan with them and after paying on time for a year they abruptly cancelled and demanded that I reinstate the full past due balance of almost {$40000.00}. I told them this was not possible and tried to figure out why they were doing this to me. I could not get any straight answers or a new review opened. A couple months later I came home with my wife and daughter and granddaughter to find our house boarded up thanks to SPS. This is unethical and illegal, we still occupied the home and there had been no foreclosure sale. I am continuing to try to negotiate with this company but can make no progress. They send me letters telling me that I can apply for help and that there are programs for me but when I try to contact them and open a review the gatekeepers shuffle me around and ultimately nothing happens. I feel that they are denying me access to government and internal programs that I qualify for and are behaving in an unethical manner. They have set a foreclosure sale date for XX/XX/XXXX and I don't know what to do. My family has lived in this home for over 20 years. We refinanced in XX/XX/XXXX to get some cash out to help my business. I was unaware of the fact that the adjustable rate loan that we entered into had a feature that would only allow the rate ( that started at 8.99 % ) to adjust up ( could go as high as 15 %!! ). Not long after taking out that loan we were hit with the recession and I was stiffed by a client whose home I had worked on for several months and had major out of pocket expenses and had a contract with the homeowner to pay me {$65000.00}. When the homeowner stiffed me on the bill I had to hire an Attorney and went through arbitration and unfortunately and unbelievably lost! By the time it was all said and done I was out over {$100000.00}. At that time the loan was with XXXX XXXX XXXX and I contacted them to let them know I was struggling with the payment and they told me to apply for a loan modification. I then went through a year 's long process of trying to get approved for a modification. Eventually I was approved for a reduced interest rate and payment and I paid this on time for the next three years. In XX/XX/XXXX I suffered a XXXX and needed to take a few months off of work and defaulted on my modification. The loan was now with SPS and I reached out to their agents and was able to enter into a repayment plan which I thought would result in a new modification or allow me to get back on track with the loan. I made my repayment plan payment of {$1500.00} as agreed for 11 months and then I was informed that they would no longer accept my payment and that I needed to make a lump sum payment of $ XXXX to reinstate the loan. This was not possible and I tried to get SPS to reconsider. Instead of doing so they illegally changed the locks on the doors and boarded up my house!!! There had been no foreclosure sale so I don't know how or why they thought they had the legal right to do so. I work full time and have the resources needed to afford a fair payment. However, SPS continues to obstruct my access to any homeowner assistance programs and instead has set a sale date of XX/XX/XXXX. I need help to cut through the red tape.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-03-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-22
Issue: Took or threatened to take negative or legal action
Subissue: Seized or attempted to seize your property
Consumer Complaint: Violations of numerous Federal and State Laws and Agreements to include : The Dodd-Frank Act, Title 12 Chapter X 1003HOME MORTGAGE DISCLOSURE ( REGULATION C ), Title 12 Chapter X PART 1014MORTGAGE ACTS AND PRACTICESADVERTISING ( REGULATION N ), Title 12 Chapter X PART 1024REAL ESTATE SETTLEMENT PROCEDURES ACT ( REGULATION X ), Title 12 Chapter X PART1026TRUTH IN LENDING ( REGULATION Z ), New York General Business Law 349, Fair Debt Collection Practices Act, Gramm-Leach-Bliley Act, as well as breach of representations and warranties. A propertys legal description identifies it and distinguishes it from any other property. An error in the legal description of record becomes an obvious title issue and has a significant effect on any applicable documented agreements. In this case, three recorded defective mortgages. As outlined in attached, the clear and convincing evidence provided illustrates that both XXXX XXXX XXXX XXXX and Select Portfolio Servicing Inc.s lack of quality control procedures, due diligence, breach of representation and warranties, attention to detail, unethical business practices and non-compliance with relevant underwriting guidelines and applicable laws has rendered all three notes and mortgage agreements ( XXXX, XXXX, XXXX ) completely invalid and unenforceable. Both XXXX XXXX XXXX XXXX and Select Portfolio Servicing Inc.s conduct is indicative of fraud on borrowers, fraud on investors and a fraud on the courts ; especially when wrongful notifications and summons for foreclosure are brought forth by both parties without having clear and convincing evidence of a bona fide security interest in a property. In several ways, both companies negligently originated, recorded, serviced, securitized and/or sold these significantly defective loans to the secondary market, which are predominantly and legally null and void. Their unconscionable and seemingly unethical actions have caused great stress and anguish upon my remaining family as we continue to grieve our parents loss and are forced to defend the loss of our childhood home. Knowing the debt was invalid and unenforceable ; SPS continues to threaten our childhood home of nearly 50 years with foreclosure, without cause. New York General Business Law 349 strictly prohibits such evident and deceptive trade practices or acts that are being committed by XXXX XXXX XXXX XXXX and Select Portfolio Servicing Inc. Our proud, hard working, yet financially unsophisticated parents, fell victim to predatory lending and deceit. See attached evidence.
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-03-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-03-22
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: beginning in XX/XX/XXXX I applied for an auto loan. after acquiring this loan, my son who has the same name XXXX the suffix started having my information on his credit report. after encouraging him to contact the credit reporting agencies in an attempt to fix the issue. after many attempts to resolve these issue, neither him or I were successful. this went on for 3 to 5 years, in attempt to fix this. both my son and I were denied credit to improve our credit. moving forward to XX/XX/XXXX through current, I have hired XXXX XXXX to assist in removing these items and challenging the wrong information on the reports. I was able to get a mortgage fraud judgement against three entities. XXXX XXXX XXXX, Select Portfolio Service and XXXX XXXX XXXX. I sent this documentation to XXXX XXXX to have them help with the removal of them reporting from this. A decision by a Superior Judge deemed it Mortgage Fraud. All of these companies have continued to report wrong information, thus impacting my family and I both financially and mentally! on top of this, I am still getting inquiry reports using my sons prior address, therefor that long complain going back 11 years ago has not stopped. I have not improved my score, due to those 3 entities and the massive unlawful mistakes that the 3 credit report agencies have continued to get wrong. I stopped using XXXX XXXX after so much in professional communication from the creditors to the agency. I also stop, due to the cost which was over {$2000.00}
Company Response:
State: ME
Zip: 049XX
Submitted Via: Web
Date Sent: 2018-03-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A