Date Received: 2017-02-03
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: SPS XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX CA XXXX We are writing this complaint .... One that we have written on almost every file that we have had over the last 1.5 years with Select Portfolio Servicing ( SPS ). SPS is again dragging their feet on working on this file and has stretched out the file review for an additional 90 days. They continue to claim that each time their request a new document that they automatically give themselves another 30 days to review the file. So it should be no surprise at all that they end of each thirty day period, a new document is requested. This game has go on now for 3 successive months. Escalations of the file within SPS ' system yield no results and it appears that they only two reasons this is occurring is that it allows them to milk more servicing fees out of their dimwitted investors ( who have yet to catch on that anything is even going on on their asset ) and an utter lack of employees. It is very sad, but we have had managers at SPS tell us that they are doing the 'best ' they can, but are grossly understaffed. One can only assume that the chronic understaffing is being done in order to increase their profits at the expense of their investor, the borrower, and the communities in which these properties reside. I humbly request that instead of us having to continually fight to even get our clients documents review and files worked on that the CFPB take administrative action against SPS. Not only is the CFPB 's database filled with complaints against SPS, but a quick XXXX search will provide days .... In not weeks of reading material on the subject of SPS and servicing fraud. We would appreciate if the CFPB could put pressure on SPS to actually review and complete the file that we have submitted.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92021
Submitted Via: Web
Date Sent: 2017-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-02-01
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: XXXX owns loan. Select Portfolio Servicing services this loan. Debt & loan in Ex husbands name. I paid cash & owned the house. Due to me cosigning the loan. He lost his job and is in the arrears ( court ordered ) to me. SPS has a sale date on the house set for XX/XX/2017. I called a lady at XXXX today-XXXX @ XXXX ext XXXX. She said she ca n't help but told me to file this complaint with you as I have ask & begging SPS to open an Assumption Loan/ Simultaneous Loan Modification Review with reduced payments based on my XXXX income. PLEASE HELP!!!!!!!!!!!! XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: LA
Zip: 70065
Submitted Via: Web
Date Sent: 2017-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-02-01
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I have submitted documents for consideration of modification to my mortgage servicer multiple times and they say that they did n't receive all of the documents, or that the case was still under review. I have received multiple notices of my " Relationship Manager '' being changed from the servicer, Select Portfolio Services. They have listed the wrong dates on when they received my documentation ( XXXX should have been XXXX ) and have said on multiple calls that my case was " under review ''. Recently, they closed the review and have a foreclosure sale scheduled, despite my many attempts to pursue home retention options. They have acted in bad faith. I was told that my only option was a " cash for cooperation '' program and tha an inspector would contact me to schedule an appointment to evaluate the value of the property. After not hearing anything for a week, I called the servicer again ad was told that the customer relations specialist " must have forgotten to send the email '' to the department that schedules inspections. I have filed for assistance with my local Clerk of Courts for foreclosure mediation. The servicer can not give me a firm timeline of when I would have to vacate the property. I can not move forward in finding a place to live without a timeframe. I asked to speak with amanager after not being able to get answers and was told that my case would only be escalated for review if I had a solid offer on the home from a qualified buyer.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 21221
Submitted Via: Web
Date Sent: 2017-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-30
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I had my original mortgage with XXXX. I lost my job due to the recession XX/XX/2008 and had trouble making my monthly mortgage payments. XXXX began charging me extremely large " differed interest '' fees each month my payments were late as well as charging late fees. By the time I was able to make regular payments again XXXX had added over {$31000.00} in differed interest to my mortgage. Now, after paying on my home for over 11 years my payoff amount is significantly over the initial purchase price. I 'd like to sell my home, but with this huge amount added to the loan it makes it financially impossible to do so.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22980
Submitted Via: Web
Date Sent: 2017-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-01-30
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: About 2.5 years ago we could not afford our mortgage payment. We requested a modification. They asked for a mountain of information and we provided it all. 2.5 years later we have not made a payment and they have not foreclosed. We are in fear any day we could be kicked out. We need a resolution. Either they foreclose or restructure our loan. My name is XXXX The lender is Select Portfolio Servicing. Our loan number is XXXX Their phone number is XXXX We
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 315XX
Submitted Via: Web
Date Sent: 2017-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-27
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: My mortgage servicer, Select Portfolio Servicing , Inc. ( " SPS '' ) has since about XXXX claimed to be the authorized servicer of my mortgage, Security Deed and Promissory Note, on behalf of XXXX XXXX XXXX Bank, XXXX. the successor in interest to XXXX XXXX XXXX XXXX EXHIBIT A. In fact, on XXXX XXXX, XXXX, XXXX assigned all rights and powers under my mortgage, Security Deed, and Note to the Bank XXXX New York. EXHIBIT B. SPS never notified me that my mortgage, Security Deed, and Promissory Note had been assigned and transferred from XXXX XXXX XXXX Bank to Bank XXXX New York. SPS never told me that, after XXXX XXXX, XXXX, that only the designee of the Bank XXXX New York, AND NOT SPS, was authorized to act on behalf of Bank XXXX New York with respect to my mortgage, my Security Deed, and my Promissory Note. Instead, SPS falsely, fraudulently, illegally and wrongfully continued to act after XXXX XXXX, XXXX, through to the present day, as though SPS was authorized by the Bank XXXX New York with respect to my mortgage, Security Deed, and Promissory Note when SPS was not so authorized. On XXXX XXXX, XXXX, XXXX recorded a second " Corrected Assignment, '' which assigned all rights and powers under my mortgage, Security Deed, and Promissory Note to " XXXX XXXX XXXX XXXX XXXX XXXX. '' EXHIBIT C. In consclusion, since XXXX XXXX, XXXX, mortgage servicer SPS has fraudulently, falsely, wrogfully, and illegal represented itself as being authorized to act as mortgage servicer for my mortgage, Security Deed, and Promissory Note when SPS was not so authorized, and I have been greatly damaged thereby. In connection with SPS 's misrepresentations, I have repeatedly requested in writing, by means of valid QWR 's, documentation setting forth SPS 's conduct and for an accounting as mortgage servicer of my mortgage, Secuirty Deed, and Promissory Note. SPS has violated RESPA, XXXX XXXX. XXXX XXXX XXXX XXXX, by failing and refusing to provide an accurate report of and accounting for its actions as mortgage servicer of my mortgage, Security Deed, and Promissory Note. SPS ' failure and refusal to take corrective action with respect to an accounting for and the proper servicing of my mortgage, Security Deed, and Promissory Note also violates the Fair Debt Collection Practices Act, 152 U.S.C. XX/XX/XXXX, and I have been greatly damaged thereby. SPS has been wrongfully threateening me with foreclosure over an arrearage of mortgage payments, the amount of which SPS has greatly exaggerated by ignoring the fact that the Note is an interest-only note.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30327
Submitted Via: Web
Date Sent: 2017-02-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-28
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: SPS loan servicing has misled us into believing that our hardship review was being processed and underwritten and only required some time in order to review. Since XX/XX/XXXX we 've asked of all the documentation that was needed to complete the review and within 2 days we complied. We have proof of receipt of all documenation remitted was received by SPS. A week later a redundant set documents were requested. We established that these documents had already been remitted but SPS indicated that this was not in their control and that our processing for review would be denied should these redundant documents not be resubmitted. We were told on XX/XX/XXXX that all documents were in and that the loan was in underwriting. This was confirmed by XXXX XXXX the manager. Today, we were informed that this loan was not in underwriting by XXXX XXXX and that another set of redundant documents consisting of pay stubs was needed. We communicated that these documents had been sent in and confirmed received two weeks ago. We are now concerned he that SPS has intentionally misplaced our documents and is intentionally delaying our loan modification review in order to cause us to lose our home.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 907XX
Submitted Via: Web
Date Sent: 2017-01-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-27
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My lender is stating there are no home retention options since my previous denial XX/XX/2016. My application was re-submitted XX/XX/XXXX because of changes of circumstances. SPS never provided denial reasons or provided denial letter, in addition, the P.O.C was changed without notice, had I not called in to find out I was never properly notified. I last spoke to the previous P.O.C who verified we will be re-submitting file. After that, lender felt the need to only communicate with me instead of my attorney when they know very well that I have XXXX. SPS has never tried to contact me in the past until I retained an attorney. I am now facing a foreclosure and not being told the exact reason for my application being denied.
Company Response: Company believes complaint is the result of an isolated error
State: WA
Zip: 98203
Submitted Via: Web
Date Sent: 2017-01-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-27
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: The reason for this letter is to let you know that I am having problems with my current mortgage company, Select Portfolio Services. This is a debt collections company and I have been with them since XX/XX/XXXX. They are based in the state of Utah. Because my loan had a high interest rate of XXXX % I asked the company to modify my loan. They sent the paperwork and began the modification. It took quite a bit of time and after several exchanges about papers they denied me the modification. I retained a lawyer and paid $ XXXX/month. It took about 7 months until my situation was resolved and still not resolved to my satisfaction, despite my complaints that the monthly payments were still to high for my modest income ( the interest was lowered to XXXX % for three months trial basis and then they said they would lower it further after trial ). After the trial months they said they could not lower it further. I did not want to but signed up because I felt I had no other options and the company told me I had to take it. One month after I sent the paperwork they contacted me with another way of " helping '' me out ( understanding my income and need to lower my monthly payment ). It was called a mortgage assistance program for people with hardships. I filled out the paperwork requesting permission for them to check my credit and transcript for tax return. After I returned the paperwork I continued to receive letters and further requests for the same paperwork. Most recently I received a letter stating they had received my complete package for loss mitigation. I do not know if loss mitigation is the same as the mortgage assistance program? I am unclear what the next steps are and it is taking a very long time. I am still paying high monthly payments and this is not sustainable. I can not keep up with these payments and SPS is now threatening me with foreclosure. I have been paying for 31 years and I need help. TIMELINE : XX/XX/XXXX : purchased home, lender was XXXX XXXX XXXX, interest XXXX % XX/XX/XXXX : refinanced to get lower interest rate, lender was XXXX, the refinance included mortgage, credit cards, car payments - THIS COMPANY SCAMMED ME. When I was negotiating with them they told me I had to take it. XX/XX/XXXX : I had made all payments to XXXX and they sold my loan multiple times, the last company being XXXX. While with XXXX despite making all payments they kept sending me a bill for {$7000.00} ( for escrow but I did not know what to do because I was making my payments ), so I ignored it. They started foreclosure process and I did n't know why ; then they started rejecting my payments. Finally I found all the money, over {$14000.00} by then, I paid them and they stopped the foreclosure. XX/XX/XXXX : XXXX sent me a letter and told me my mortgage was now with Select Portfolio Services. At that time I called SPS and started the modification process ( as storied above ).
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22003
Submitted Via: Web
Date Sent: 2017-01-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-27
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I am An interest only mortgage holder in the year XX/XX/2007 I think I wanted to lower my payments like everybody else. I was advised that because I was current that I could not refinance. The mortgage holder advised me to stop paying my mortgage and do a remod I agreed. when the forcloseure process began I did a remodification the bank lowered my payment put me back in a 30year mortgage again and increased my principal by XXXX. I was always paying interest only on $ XXXX now I 'm paying interest only on $ XXXX I was never paying off my principal just interest only why am I paying interest on on XXXX that I never had
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94087
Submitted Via: Web
Date Sent: 2017-01-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No