Date Received: 2017-05-01
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: I noticed the mortgage statements I receive from the alleged mortgage servicer, Select Portfolio Servicing, states on the bottom of the letter " This is an attempt to collect a deb. All information obtained will be used for that Purpose. I made payments with this servicer not knowing if they were a debt collector or mortgage servicer. On XXXX XXXX XXXX I sent a lett er to Select P ortfolio Services to verify who the v erify the allege creditor and asked for name, phone, and address. In response on XXXX XXXX XXXX , they have returned a letter stating tha t XXXX XXXX XXXX XXXX is referred as the " investor '', " creditor '', and/or " note holder '' of the account. They r efuse to give me contact information because its proprietary information. I do not recognize XXXX XXXX XXXX as a creditor. On XXXX XXXX XXXX , I have sent a letter to Select Portfolio Servicing Inc ( SPS ) t o validate and verify the debt. My first problem was identifying SPS. T he letters I receive from this company states they are a Mortgag e Service c ollecting for a loan but on the bottom of the letter it states it is an attempt to collect a debt. I tried to speak with a representative, a recording played stating this is a debt collector attempting to collect to collect a debt. When i spoke with the representative I never received a clear answer as to if they were a debt collector or mortgage servicer. I want to verify who was the original creditor and who is collecting on the debt. SPS claimed XXXX XXXX is creditor but XXXX XXXX is the noteholder/investor. They never provided name, address, or phone number of any of these alleged creditors. I personally calle d XXXX XXXX XXXX XXXX , t hey claim to have no information of this debt. I emailed XXXX XXXX regarding this debt. In response they stated that loan information I have given them was for XXXX XXXX and are not in business. I discovered a letter XXXX XXXX XXXX from XXXX , the original servicer, the release of deed to secure debt stating the debt is paid in full and release of lien. But I never received notice from the original creditor th at SPS or XXXX XXXX XXXX XXXX is going to collect any debt for them or on their behalf. There is no evidence that I owe any loan or debt to XXXX XXXX .
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-05-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-28
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My home was foreclosed on XXXX XXXX , XXXX by the XXXX XXXX XXXX XXXX an entity that does not hold ownership of my note. This problem on my home started back in XXXX , when XXXX XXXX XXXX illegally assumed our note from XXXX XXXX . XXXX XXXX went into receivership XXXX XXXX , XXXX XXXX purchased all the assets at that time and our note was not assigned to the XXXX XXXX XXXX XXXX , however the XXXX XXXX XXXX XXXX is claiming ownership. I have prepared a document called CFPB complaint the XXXX XXXX XXXX XXXX and Exhibits which I would upload making my complaint clearer. I am uploading documents to the complaint which will give the true picture of what has taken place.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75087
Submitted Via: Web
Date Sent: 2017-05-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We had a home mortgage through XXXX XXXX that allowed us to pay the loan off a head of time without penalty. We put additional money to the payment to have the loan paid off in XXXX instead of XXXX . At the end of XXXX XXXX sold our mortgage load to a company calle d Select Portfolio Servicing , Inc out of XXXX XXXX XXXX , Utah. In the letter XXXX said Nothing about our mortgage load will change. We sent our first payment t o SPS, Inc o n XXXX XXXX . A little while later we check and saw the the check had been cashed. They never sent us a statement on how the money was disbursed. After contacting SPS customer service, they sent us the breakdown. The total payment was being held in a thing called unapplied payments because our account was paid up to date until XXXX of XXXX . Upon talkin g to SPS as to w hy, they said they are reviewing it. All we want is the same procedure that XXXX was doing with are payments. Ta king out Principle, Interest, and the add itional principle that we send monthly. We set up online payments with this company and was told we did it properly. but on XXXX XXXX we tried to do our payment online and was told we were ineligible. Called SPS back the account is still under review. It just seems like we ca n't get a straight answer.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 16601
Submitted Via: Web
Date Sent: 2017-04-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-27
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have applied for a short sale of my home and have been in review for over a year. In XXXX XXXX my home was appraised and an offer was submitted however due to repetitive document requests we were forced to have our property valuation redone in XXXX XXXX . I was advised on XXXX / XXXX / XXXX that the value came in higher than my offer and that I could counter or dispute the value. I was given a list of items needed to dispute that value and was advised that I had time to do so, but was not given an exact time frame. I submitted the information to the bank on XXXX / XXXX / XXXX showing pictures and contractor information for the repairs of the home. I followed up with the bank on XXXX / XXXX / XXXX that the documents had been received as the account representative stated it could tak e 48-72 ho urs for docs to be uploaded, however the rep at that time advised the file was closed out on XXXX / XXXX / XXXX for an insufficient offer and that the sale date was set on XXXX / XXXX / XXXX . To my dismay I was not aware that the foreclosure proceedings were continuing while in active loss mitigation review. According to CFPB guidelines : Restricted Dual-Tracking : Under the CFPBs new rules, dual-tracking when the servicer moves forward with foreclosure while simultaneously working with the borrower to avoid foreclosure is restricted. Servicers can not start a foreclosure proceeding if a borrower has already submitted a complete application for a loan modification or other alternative to foreclosure, and that application is still pending review. To give borrowers reasonable time to submit such applications, servicers can not make the first notice or filing required for the foreclosure process until a mortgage loan account is more than 120 days delinquent. Why would this continue if I was actively being reviewed for a loss mit option? I would like to be allowed to have the valuation dispute reviewed and the opportunity to counter. 10 days is not enough time to do so in any regard. SPS now refuses to to give me the information I need to appeal the decision and the letter they sent to my authorized third party does not give a reason for denial or even information on how to appeal. Please help.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DE
Zip: 19709
Submitted Via: Web
Date Sent: 2017-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-27
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Im writing to express that my foreclosure need to be postponed and the assignment filed in XXXX XXXX , Georgia need to be investigated for fraud. The servic er, Select Portfolio Servicing has been informed several occasions prior to XXXX XXXX , XXXX that the loan was transferred illegally through the assignment. A Qualified Written Request ( QWR ) and Proof of Claim surrounding the mortgage loan was sent to the servicer and they are claiming that that they never received my documents. Thats the reason why Im sending it through the CFPB. The servicer refused my payment after I became 30 days late. They are trying to take my house and not acting in good faith. I want to keep my home and requesting a postponement and hopefully obtain a forbearance.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30213
Submitted Via: Web
Date Sent: 2017-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX we got a Home Mortgage Equity LOAN, not equity line, originating with XXXX XXXX. At that time and with our poor credit we had to go with a high fixed rate of 12.25 APR interest. We signed up for a 15 year loan that is supposed to be completed in XX/XX/XXXX. After getting the loan we put our heads down and just kept it paid. My wife and I have been paying this loan for 11 1/2 years. Recently XXXX sold (? ) our loan to Select Portfolio Servicing ( SPS ). Today I received the first statement by mail from SPS and was very confused when the figures were computed. In XX/XX/XXXX we took out a 15 year Home Equity Mortgage Loan of {$25000.00} ( XXXX XXXX XXXX dollar ) with 12.25 % APR interest rate, and as of today we owe, according to SPS, {$24000.00}!! We have n't missed any payments and have paid on time. According to the statement, the payment due is {$260.00} a month with {$26.00} going to Principal and {$230.00} STILL going to Interest. I called them today to find out about getting the correct amount owed where it should be and the lady I spoke to insisted that the numbers were correct. So after paying {$260.00} a month for 11 1/2 years on a {$25000.00} ( XXXX XXXX XXXX Dollar Loan ), we still owe ( according to SPS ) {$24000.00}. According to these numbers we have paid approximately {$33000.00} in interest, yet only {$3600.00} has gone toward principle on a {$25000.00} loan at 12.25 % for 11 1/2 years. When I asked how this loan could possibly be paid off by XX/XX/XXXX, she stated that " there will be a balloon payment at that time ''. I then asked the amount of the balloon payment and she said " It 's not on here. '' referring to our paperwork By my calculations our " balloon '' payment will be {$12000.00} IF every monthly payment from this point is applied to the principle, which it wo n't. The other issue I 've discovered is that in XX/XX/XXXX, XXXX had our loan balance amount at {$23000.00} outstanding, but somehow SPS has increased that amount to {$24000.00}. So they are charging us an additional {$610.00} for a " Deferred Principle ''. I asked that we be mailed the paperwork SPS has for our loan and they claim they will send it in 5-7 business days. This must get sorted out or e will never be free of a loan that is supposed to mature in XX/XX/XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 48060
Submitted Via: Web
Date Sent: 2017-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-27
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My wife and I are attempting to go through a Short Sale w ith Select Portfolio Servicing , In c. and XXXX XXXX XXXX , XXXX since XXXX of XXXX . We are being represented by XXXX XXXX XXXX to help us navigate this process. Unfortunatel y, SPS , Inc. has b een extremely difficult to work with and we fear that our mortgage companies have reached an impasse concerning compensation towards XXXX . We are trying our hardest to comply, but we are now desperate for outside assistance to look into our situation. Since XXXX , SPS has repeatedly denied our application for a Short Sale by stating that various fees either need to be added or removed from t he HUD-1 disclosure, and they have also stated that the asking price for the home is too low, even though multiple BPOs hav e come back with the exact value that was listed. We have repeatedly shown good faith and patience by trying to adhere to SPSs requests, but to no avail. They consistently come back with a different request nearly every 1-2 weeks. The latest request was to reduce the amount that the second mortgage ( XXXX ) would receive. In the HUD-1 it listed that XXXX would receive {$12000.00} in compensation for the short sale. This has been in the paperwork since the beginning and SLS has agreed to all versions of the Short Sale application submitted until the most recent on approximately XXXX when SPS required that the amount be reduced from {$12000.00} to {$6000.00}. We find this and other requests to be unreasonable because we feel that SPS should have notified us of all issues with the application for assistance all at one time rather than repeatedly requesting the terms of the HUD-1 be c hanged for differing reasons at every turn. Due to the reasons listed above, we believe that SPS is purposely trying to find reasons to deny the Short Sale, thus they are not following the governments guidelines for lenders to provide foreclosure alternatives to homeowners. Please help us to rectify this situation so that both mortgage companies can come to a viable solution that will allow us to sell the home.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30143
Submitted Via: Web
Date Sent: 2017-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SPS , Inc. is now the loan service provider for my mortgage which was just transferred in XXXX XXXX from XXXX which originated from XXXX XXXX XXXX and originally loan originated ( XXXX XXXX ) with XXXX XXXX Loans. Now, I am discovering th at SPS, Inc. is a debt collector and just services the mortgage. I have medical issues and loss of income and can not receive any help as SPS, Inc. is not a bank, but a debt collector. I submitted all documentatio n ( XXXX XXXX ) and was just told via phone follow-up on Friday, XXXX XXXX that my request for a short pay was denied. My husband and I do not agree with the total amount due of {$250000.00} when my loan originated on XXXX XXXX for {$200000.00}. Consumers, like myself, need protection. This is my home, this is my credit. I am not behind and have made payments consistently ( no arrear s ). T his is adversely affecting my credit as well as this loan is now with a collection agency and the letter that I received on XX/XX/XXXX dated XX/XX/XXXX indicates foreclosure proceedings. I need assistance to get my loan corrected with the correct amount owed or help due to my medical/financial hardship. I have offered to use my savings to pay the loan amount of {$200000.00} and it was denied b y SPS, Inc. I have XXXX issues : 1 ). I need my loan with a bank that can help me or I nee d SPS, Inc. to accept the offer of {$200000.00} due to my hardship which has been documented since XXXX XX/XX/XXXX - XXXX XXXX when I contested the amount and made the offer/short pa y. 2 ). I need help as a consumer who has owned this home since XXXX XXXX and have paid monthly. I just want to pay the original mortgage of {$200000.00} which is file with XXXX XXXX County tax collector and I need assistance fro m SPS, Inc. to accept this offer or I need help from the State of Florida as this is unfair consumer practices/financial practices. I need a print out or transcript fro m SPS, Inc. including 1. How much money SPS, Inc. paid fo r my account. 2 ). Date of transfer and terms/conditions which my account transferred from XX/XX/XXXX XXXX XXXX , to XXXX to SPS, Inc. XXXX ). Proof that I owe the amount of {$250000.00} of a mortgage- I still contest the amount of {$250000.00} and will not pay over the original loan amount of {$200000.00} 4 ). Proof of all payments since loan originated- XXXX XXXX and terms/signatures/contract/agreeemen ts 5 ). Pr oof of application for MHA or HAFA programs which in letter dated XXXX XXXX , XXXX - the c ompany states that I was not eligible for these programs. I demand proof that an applicatio n ( s ) were made on my beha lf 6 ). If SPS, Inc. c an not accept the short pay of {$200000.00} then I need assistance with this loan to correct amounts owed and terms with a conventional loan/banking or financial institution. When I signed for loan it was with XXXX XXXX and then XXXX XXXX XXXX never with a collection agency. I could see if I was in default or delinquent, but this is not the case with the property/loan. My attempts to remedy/resolve include : I have contacte d SPS, Inc. on phone ( XXXX XXXX , XXXX ) when I first discovered the amount and service provider and ongoing from XXXX XXXX XXXX XXXX for a short pay. I have written letters and sent documenta tion ( XXXX .- XXXX XXXX ). I will write t o SPS, Inc. as I believe there is a notice of Error and I will continue to exercise all consumer rights regarding my mortgage loan. This is a mortgag e ( 1st mortgage ) o n my primary property. I am requesting that mediation take place with myself and SPS, Inc. prio r to further action or future litigation for unfair consumer practices in banking and financing. XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33405
Submitted Via: Web
Date Sent: 2017-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-26
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: SPS Mortgage servicing is inaccurately reporting payment information to the credit bureau. No payments prior to XXXX XXXX should be reported for this account. The account was transferred from XXXX XXXX in XXXX of XXXX . All payments prior to XXXX of XXXX were made to XXXX XXXX and are being reported by XXXX causing duplicate payment history and the credit bureaus double counting late payments when calculating the credit score ca using the score to be lower by XXXX basis points. I have contacted SPS regarding this issue and filed disputes with the credit bureau and the information is not corrected. Original complaint XXXX was filed last year. SPS corrected my credit reporting for all XXXX credit bureaus and XXXX for my husband. When I contacted SPS to indicate XXXX of the XXXX credit bureaus were not fixed for my husband, they then reverted my husband 's XXXX report back to the incorrect reporting and then started reporting his account under my son 's credit reporting ( so n is a XXXX ). W hen I contacted them about this, they fixed the incorrect reporting on my son but never the incorrect reporting for my husband. I have been contacting them almost every month to get this resolved but they keep telling me either it is being reported ok or they have to place the account back in a dispute status to fix it which lowers o ur credit score XXXX to XXXX basis points. Each time they say it will take between 30 to 90 days to fix it. Should this not have been fixed within 90 days of the original dispute filed back in XXXX of XXXX . The inaccurate reporting is causing my husband 's credit score to be lower by XXXX basis points. We know this because when XXXX was temporarily fixed the score went up by that amount. He wants to purchase a new car but wants his credit to be accurately reflected before it is pulled. I have b een trying to get SPS t o fix the inaccurate reporting for almost nine months. They have promised to call back and never do. They say they have to place the account in a dispute status which I do not understand when this information was already disputed, they sent me a letter stating it would be fixed, and they partially fixed it. I also do not understand how XXXX and XXXX can low er my credit score by XXXX basis points as soon as the account is put into a 'dispute ' status. XXXX lowers by XXXX basis points. If I am disputing inaccruate information on my credit report, why am I being penalized. And when the account is put into dispute it is put into dispute for both my husband and myself which affects both our individual credit scores.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WI
Zip: 546XX
Submitted Via: Web
Date Sent: 2017-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-04-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: To whom it may concern : In XXXX 2016 I was engaged in trying to get a loan modification with Select Portfolio Servicing a nd they denied me and gave me the run around. They denied and would n't approve me for a loan modification. I .hired a real estate agent and they started to market the house for me so that I would n't lose it to foreclosure. We placed it on the market with a real estate agent so that I would n't lose the equity to foreclosure. I currently have a bonefide offer on the property, with proof of funds from a qualified buyer. I have included with this, proof of funds, settlement statements, real estate purchase contract with addendum 's. Every time we have called and tried to get a postponement and sell the house they tell us they wo n't postpone the trustee sale. I 'm paying the loan off in full and they are not allowing me to sell the property and get my equity. I feel they have been very deceitful, dishonest, and misleading me for the past 6 months. Please help me postpone the trustee sale so that I can sell the house and pay off all lien holders in full.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: UT
Zip: 84084
Submitted Via: Web
Date Sent: 2017-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A