Date Received: 2017-11-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We have been working with SPS since XXXX XXXX on the short sale. They have repeatedly delayed the file and we have lost numerous buyers. We had an offer in XXXX for {$250000.00} - even though the value was only {$240000.00} they countered the buyer. The buyer finally walked in XXXX XXXX just as the bank issued a short sale approval letter. We relisted from XXXX until XXXX when we received an offer for {$230000.00}. SPS rejected the offer. We relisted and obtained and submitted an offer in XXXX XXXX for {$240000.00} - the actual value of the home, per SPS. Today SPS has countered the buyer, advising they require a NET of 95 % of the appraised value. In a short sale the bank ( SPS ) is legally obligated to pay the realtor commission, transfer tax and title insurance. This means unless the buyer pays SUBSTANTIALLY over market value for the home there is no way to get them 95 % of the value as their NET. This is another attempt for SPS to force my client into foreclosure. My client is a double amputee and is wheelchair bound - he can not live in this two story house. This is the second CFPB complaint against SPS on this particular file.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 483XX
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-03
Issue: Problem with customer service
Subissue:
Consumer Complaint: The homeowner 's house was damage as a result of the storm. Her insurance Company came to appraised the damage and sent the check to SPS Mortgage Servicing Company on XX/XX/XXXX The Homeowner hired a contractor to do the work and papers was filed with SPS by the contractor. The contractor was later dismissed because he was not certified and did not have the proper license. He did not do any work on the house. The homeowner then hired a second contractor who was certified and licensed and the papers were filed with SPS. SPS then required contractor # 1 to sign a paper stating that he is no longer the contractor on the job. He did not sign the paper nor will he cooperate with SPS. The policy of SPS is when this situation occurs they will call the contractor 3 times once per week in the event the contractor does not respond they will forward the insurance check to the homeowner. SPS has had the check in excess of {$7000.00} since XX/XX/XXXX. SPS made the first call to the contractor on XX/XX/XXXXand none after. On XX/XX/XXXXSPS stated that they did not make the second and third call to the contractor and therefore we have to start all over again. Everytime it rains the homeowner 's house is damage as a result. This is a hardship to the homeowner because SPS has had the check sinceXX/XX/XXXX and is intentionally withholding the money from the homeowner so that she can complete the work.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07203
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: SPS did not tell me ( written or verbally ) that my house was put in foreclosure. I did not recieve any certified letters or anytging. SPS took it upon themselves to notify XXXX XXXX XXXX XXXX an attorney and counselor at law to put my house in foreclosure. I have an attached letter stating that XXXX XXXX sent dated the foreclosure letter for XXXX XXXX2017. I called SPS and they told me they did not know why XXXX XXXX sent the foreclosure letter without their approval or before they informed me of the foreclosure date. I am in a predatory loan and at new law was passed that protects homeowneemrs against predatory lending and any interest rate over 5.5 % is considered predatory. I have a 8 % loan SPS should be informed that it I am a victim of predatory lending I can sue the bank. Please, stop the foreclosure and give me a modification.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30022
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: This file has been in review for over 100 days, a complete packet was received/confirmed months ago. However, week after week underwriting requests documents they already have on file or clarification on thing that were already noted and provided. It is one thing after another and zero progress is being made.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Attempted to assume and receive a mortgage modification after my mothers XXXX XXXX/XXXX/XXXX. Applied through loan servicer ( Select Portfolio Servicing ) on XXXX/XXXX/XXXX. Denial letter received from loan servicer on XXXX/XXXX/XXXX for the following stated reason : Discharged Bankruptcy not Readfirmed Mortgage was already in an active modification and was based on my mother and my income prior to her XXXX XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NH
Zip: 038XX
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-03
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Today, XXXX XXXX, XXXX, I have included by voluntary dismissal filed in XXXX County Georgia litigation against SPS. I really would like SPS to answer my questions before we attempt to negotiate a settlement. So please answer my questions. I am again requesting a criminal investigation with you, among other investigative institutions for breaches of contracts well before you started servicing this loan. This request for investigation is based on tax evasion, money laundering, predatory lending, deceptive trade practices and fraud. I requested the name of the Securitized Trust that my note was in, and have not received it yet. XXXX XXXX XXXX XXXX XXXX XXXX was the original lender on my note, not XXXX XXXX XXXX Company as illegally placed at the lender on my note. With this Deed and note publicly recorded, XXXX XXXX XXXX may have committed Fraud, Forgery, Perjury, money laundering, among other crimes. My note has been through Assignments several times ( Attached ), each of which appear to be Fraudulent with signatures of Bank Employees, not XXXX XXXX XXXX XXXX XXXX XXXX employees, which went out of existence on XXXX XXXX, XXXX and could not sign or transfer any documents or Assignments ( As attached ). XXXX XXXX XXXX then with a limited power of attorney from the FDIC than awards my house back to XXXX XXXX XXXX. Signed by XXXX XXXX XXXX employees. Notarized by a XXXX XXXX friendly Notary. Since XXXX XXXX XXXX XXXX XXXX XXXX had no authority to remove or assign my above note after XXXX XXXX, XXXX, why were there Assignments in XXXX and XXXX? Each signatory of each document should be investigated to determine if they were in fact XXXX XXXX XXXX XXXX XXXX XXXXXXXX employees, or Bank Employees creating Legal Documents to Defraud the Homeowner. I have sent a QWR asking basic accounting questions about records which SPS does n't seem to have. I also challenge the P & A agreement Chase uses to validate authority from XXXX to foreclose. I question the assets actually acquired by XXXX which then sold/transferred to SPS. Please answer these questions before the CFPB so that we can move forward one way or another.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-02
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I submit a previous complaint ( XXXX ), the company respond to you, but I 'm not agree with their answer. According to their letter they reclassified a deferred interest into a deferred principal without my authorization, and as far as I know is illegal to do any modifications to a mortgage without concert of the owner. I did a modification back in XXXX XXXX, XXXX with XXXX ( original lender ), the mortgage has been sold 3 times now. I have a letter from XXXX dated XXXX XXXX, XXXX XXXX 3 months after the modification ) where they say that my PMI was supposed to be removed back in XXXX/XXXX/XXXX where a XXXX XXXX XXXX took place. Now this company apply the deferred interest as part of my principal balance, raising the principal from XXXX XXXX thru $ XXXX. They want to keep making additional XXXX a month in PMI. Every time that I request documents to them, they ca n't submit anything to me. I called at least XXXX times requesting the modification paperwork, every time they give me a 5 days to send me the paperwork. Never received anything from them. Very bad customer service, very rude people with their clients. Still waiting for the next day phone call from one of their supervisors in XXXX at XXXX ( XXXX XXXX XXXX. He was supposed to called next day to give me an explanation about my case. I need you help with this case. Thank you
Company Response: Company believes it acted appropriately as authorized by contract or law
State: SC
Zip: 29615
Submitted Via: Web
Date Sent: 2017-11-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We went through HAMP with XXXX XXXX XXXX in 2010. PMI premiums were instated on our mortgage that is approximately 58 % of our home mortage price and value. I have tried repeatedly to find out why we are being charged such an exhorbinate amount of money monthly for an insurance premium. We have been paying this for the past 10 years to the tune of XXXX. It is a tremendous burden to make this gouging payment. I believe that XXXX XXXX XXXX made an error when the modification was processed and instead of listing the private mortgage insurance premium annually for {$630.00} they inserted the premium to be paid monthly at {$630.00}.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OK
Zip: 74133
Submitted Via: Web
Date Sent: 2017-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: For ten years we never had payment issues with our previous loan servicer XXXX. Unfortunately, XXXX XXXX recently sold our mortgage loan to a private investment company. The new owner uses a different service company called Select Portfolio Servicing Inc ( SPS ) based in XXXX XXXX XXXX, UT. We 've had nothing but problems with SPS from the very beginning of our relationship. Unlike XXXX, SPS does not put the amount due on our monthly statements. I 'm forced to call the SPS call center every month to get the amount I have to pay. Unfortunately, every time I talk to someone at SPS, I get a different answer to how much I have to pay. I call multiple times to see if I can get an agreement on the amount I have to pay. Usually I choose the highest payment amount given to me. When I get my next month 's statement, I see that the amount I paid was incorrect. When I call SPS to find out what the correct amount was for the previous month, once again I get different answers depending on whom I 'm speaking with. I tried to talk to a SPS call center supervisor, but each time I 'm told that there is n't one available, and a supervisor will call me back in 48 hours. Of course no SPS supervisor ever calls me. The SPS call center representatives are so bad, unskilled, and unhelpful, that for the first time ever, I wish SPS would outsource their call center to XXXX. Ever since SPS has become my mortgage loan servicer, I spend HOURS every month trying to pay my mortgage. It is an ordeal dealing with this company. I just want this nightmare to end.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-01
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX I faxed over a modification package and it was received. Representatives at SPS stated that they received the modification, but they did not open the file and that they would continue with the foreclosure process and foreclose on the house on XX/XX/XXXX. A letter was received on XX/XX/XXXX stating that they received my home retention paperwork and to discuss the option available to me. This paperwork was received the same day that my house was to foreclose on. I had to file bankruptcy to keep me home, which an representative stated that I should not file bankruptcy. I opened a case and submitted all paperwork. SPS was not accepting payments anytime during this process. They checked my credit and denial me a modification to keep my home. They sent paperwork for me to do a short sale or deed in lieu of. I am trying to workout a solution to keep my home, but they are not trying to work with me. SPS polices and practices, constitute discrimination against applicants with respect to credit transactions on the basis of race and/ or national origin in violation of the Equal Credit Opportunity Act, 15 U.S.C. 1691 ( a ) ( 1 ). SPS induced the foreclosure by failing to offer refinancing or a loan modification to XXXX on fair terms- which constitutes a particularly egregious form of redlining, given that XXXX sought a loan modification with respect to a bad loan that the bank previously made to him.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30016
Submitted Via: Web
Date Sent: 2017-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A