Date Received: 2016-09-10
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Select Portfolio Servicing , Inc. continues to evade simple, basic questions I have posed to them regarding the validity of my mortgage debt, and instead, is relying on twisted words, half-truths, incomplete answers and non-answers in a desperate attempt to hide the truth. Specifically, I sent via Certified Mail, and SPS rec 'd on XXXX XXXX, a formal 'Dispute of Validation of Debt ' and in short, the reply from SPS was wholly inadequate. As XXXX case in point, federal law requires that the debt collector ( SPS ) provide the true identity of the 'creditor ', and yet, all I rec 'd was a jumbled mess of a paragraph that tries to say that XXXX is the 'noteholder ' - a claim that XXXX Bank has formally denied - and that SPS is the 'servicer ', and that my note is 'secured with other notes traded on XXXX XXXX ''. Nowhere in that reply is specific information as to who the actual 'creditor ' is as defined by XXXX XXXX. Additionally, another requirement in a reply regarding a dispute of debt is for the debt collector to clearly identify who the original creditor is ( or was ). SPS also failed to make clear the simple answer to that question. In response to an earlier complaint to XXXX Bank, SPS wrote on XXXX XXXX, XXXX that " the 'owner ', sometimes also referred to as 'investor ', 'creditor ', and/or 'note holder ' '' is in fact XXXX Bank. In their XXXX XXXX, XXXX reply, SPS clearly implies that all of those terms mean the same thing ( see attached ). However, in clear contrast to that assertion, XXXX Bank says it in fact is NOT the owner ( which also according to SPS means it is not the 'creditor ' nor the 'note holder ' ), and that instead, some unnamed 'Trust ' is the actual 'owner of the mortgage and note ' ( see attached ). Accordingly, I still do n't have a clear answer as to who the actual 'owner/creditor ' is, despite filing a formal dispute of the Validation of Debt with the debt collector. In addition, SPS failed to answer the vast majority of the questions I asked relative to the origination of the debt, and who was in fact the actual creditor ( or lender ) to begin with ( see attached list of questions contained in the 'Dispute of Validation of Debt and Qualified Written Request '. All I rec 'd was another copy of the Mortgage and Note, which shows XXXX XXXX XXXX as the 'Lender ', but without further detail regarding whose money Encore was actually lending, there is no evidence whatsoever that Encore was actually a 'true creditor ' in the first place. The information is needed to determine if this case fits the same fact pattern as XXXX, XXXX XXXX XXXX, XXXX WL XXXX ( XXXX XXXX XXXX, XXXX ), and all indications are that it does.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OH
Zip: 44406
Submitted Via: Web
Date Sent: 2016-09-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-09-09
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Select Portfolio Servicing, Inc. ( SPS ) took over my loan from XXXX XXXX, XXXX. SPS told me that my last payment was make on XXXX XXXX, XXXX in the amount of {$1500.00} and my next payment is due on XXXX XXXX, XXXX my next payment amount is XXXX. SPS gave me the incorrect amount the bank say that I own them, {$1500.00} for at lear 15 months, the total payment SPS did not add to my account is {$22000.00}. Base on this dispute and the servicer to prepare the loan modification for me said that they did submit the loan modification on XXXX XXXX, XXXX. I did call in to check the status for my loan modification on XXXX XXXX, XXXX, I did talk to XXXX XXXX, she said that they do not have my loan modification on their system. She request me to go to police department to report for Identify Theft Victims ' Complaint and Affidavit. Today XXXX XXXX, XXXX, I call in again request for the postpone my house and he said I need to sign the for Identify Theft Victims ' Complaint and Affidavit they did send it to me but I never received it, I do not think I need to sign Identify Theft Victims ' Complaint and Affidavit for them to stop postpone my sale date because this is a complaint about the fraud the bank foreclose my house not for Identify Theft Victims ' Complaint. I am so confuse the way SPS treated as their customer. " The subprime debacle, which I would define as loans that should n't have been made andpackaged that originated between XX/XX/XXXX and XX/XX/XXXX, was probably the biggest Ponzi scheme in thehistory of mankind. '' XXXX XXXX XXXX, XXXX, opening speaker, " The Subprime Mortgage Fallout, '' State Bar of California XXXX Annual Real Property Law Section Retreat, XXXX XXXX, XXXX. XXXX the subprime meltdown, banks abandoned traditional underwriting practices and caused a frenzy of real estate speculation by issning predatory loans that ultimately lowered property values in the United States by XXXX-XXXX %. Banks reaped an unprecedented harvest. XXXX XXXX, CEO of XXXX XXXX, took home more than XXXX during the seven years.Banks issued XXXX predatory loans knowing that the borrowers would default and lose their homes, and then committed perjury and fraud to fabricate documents in the foreclosure process. As a direct, foreseeable, proximate result, XXXX families are now in danger of foreclosure, and i am facing illegal foreclosure of my home at a Trustee 's Sale scheduled for XXXX XXXX, XXXX. XXXX responding to the foreclosure crisis in California, the City and County of XXXX XXXX 's Office of The Assessor-Recorder of XXXX XXXX had retained XXXX XXXX XXXX , XXXX ( " XXXX '' ) to review XXXX residential mortgage loan transactions ( " Subject Loans '' ) that resulted in foreclosure sales that occurred from XXXX XXXX through XXXX XXXX. Over This period, XXXX analyzed the Subject Loans to determine the mortgage industry 's compliance with applicable laws. Specially, XXXX focused its analysis on important topics relating to XXXX subject areas such as Assignments, Notice of Default, Substitution of Trustee, Notice of Trustee Sale, Suspicious Activities Indicative of Potential Fraud, and Conflicts Relating to XXXX. In its report, XXXX stated that the subject areas and the topics it explored may not be exhaustive. Nonetheless, it believed the analysis presents an accurate picture of the nature and frequency of the mortgage industry 's performance respecting compliance with important aspect of California 's non judicial foreclosure laws. Overall, it identified one or more regularities in XXXX % of the subject loans. In XXXX % of the loans, it identified what appeared to be one or more clear violation of law. In gathering the facts, researching the facts, reviewing the documents set forth in the Exhibits, and reviewing XXXX ' report ( Exhibit " G '' ),
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 95135
Submitted Via: Web
Date Sent: 2016-09-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-09-09
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I am in the process of negotiating a short sale with my first lender SPS, and they already issued approval once before, and after we requested an extension on the appproval since the XXXX lender did not approve the short sale until after SPS ' approval expired, SPS did a new BPO on the property. The XXXX value came back substantially higher than the already approved price that Buyer agreed to, and the BPO had many glaring errors- the valuation used properties more than XXXX mile away, in different school districts, more desirable neighborhoods, comps that were not even sold, etc. This is the 2nd time SPS has done this on this same exact file. Their first BPO had the same exact glaring errors and they sat on it and did nothing until a prior CFPB complaint was filed. They need to be fined as this repetitive action is becoming malicious and affecting the lives of the Seller and Buyer extremely negatively.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 601XX
Submitted Via: Web
Date Sent: 2016-09-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-09-09
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Almost two years ago, I modified my mortgage with Select Portfolio Servicing. At the time I applied for the modification, the principal on the loan was roughly $ XXXX. After modification, the balance rose to $ XXXX and I was told that the monthly payment would be {$1300.00}. Recently, I noticed however that my monthly payment as crept up to {$1600.00}. per month, the same amount that it was prior to the modification. I am at a loss as to why the monthly payment would increase since the interest rate on my mortgage is fixed. Also, the loan amount seems to be growing, not shrinking.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WI
Zip: 53719
Submitted Via: Web
Date Sent: 2016-09-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-09-09
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I own a property located at XXXX XXXX XXXX XXXX, XXXX, XXXX. The loan is serviced by Select Portfolio Servicing , Inc. ( SPS ) XXXX of XXXX. I have had XXXX claims on this property in which the insurance company sent at least XXXX checks to SPS for the repairs and SPS has misappropriated the funds. Despite all repairs being complete ; and despite independent verification by SPS 's inspector and the Insurance claims adjuster that all repairs have been satisfactorily completed, SPS has failed to pay the contractor and reimburse the expenses that I paid out of pocket. SPS is engaging in a criminal act by misappropriating construction funds in violation of XXXX Law as well as engaging in insurance fraud. SPS should not be allowed to hold a mortgage lender license.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77450
Submitted Via: Web
Date Sent: 2016-09-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-09-09
Issue: Disclosure verification of debt
Subissue: Right to dispute notice not received
Consumer Complaint: The CFPB, F.B.I., OCC.HUD, making HOME ADORABLE AND MY CONGRESSMAN US D.O.J. NEED TO REOPEN A CRIMINAL INVESTIGATION AGAIN AGAINST CHOICE LEGAL GROUP IS A COLLECTION AGENCY AND THE LAW NEEDS TO BE AUDIT THE AUDIT WILL REVEAL ALL THE FRAUDULENT DOCUMENTS ACTIVITY GOING ST THIS FORECLOSURE MILL 'S ALL IS FRAUDULENT POA, XXXX ENDORMENTS, NON ORIGINAL PROMESORY NOTE LOOK CASE # XXXX AT XXXX FRAUDULENT DOCUMENTS TO OBTAIN A FAVORABLE ILLEGAL JUDGMENT FOR ALMOST {$140000.00}, THIS FRAUDULENT ACTIVITY
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32819
Submitted Via: Web
Date Sent: 2016-09-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-09-08
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Select Portfolio Servicing Inc is my mortgage company ( this is the XXXX owner of my mortgage in about three years. Two years ago I received help from the federal government through a HOPE grant to avoid loosing my home to foreclosure. They paid my previous mortgage company {$17.00}, XXXX to bring my account out of foreclosure and I was able to resume paying my mortgage after resolving my financial issue. Since this time that SPS purchased my mortgage they are reporting to the credit agencies that I owe them this amount in my payoff amount. I understand by getting this HOPE grant that if I do not keep the home, ( sell it, or loose it ) I will be responsible to repay this grant amount of XXXX if I do n't keep the home for ten years from the grant date, about two years ago. Here is my issue .... SPS received the amount of XXXX ( or at least the companie that owned my mortgage then did ) and I do n't think it 's fair for SPS to calculate my interest on the total amount still owed plus the grant amount daily, and montly and for SPS to report that I owe a debt of the additional amount of the grant money they received of XXXX. This is a loan I got from the federal government and I will owe the federal government if I loose or sell my home within the ten year guideline. SPS is using this amount to charge me additional interest and fees when they received this money, it is an unfair charging system that will never allow me to pay off this loan. SPS has also created a Escrow account that was not part of my original loan agreement and I feel illegal to attach to my mortage and create a extreme amount monthly to force me into foreclosure through extra charges not agreed to in my original loan agreement with the original mortgage company.. see attached documentation.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IN
Zip: 478XX
Submitted Via: Web
Date Sent: 2016-09-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-09-07
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Hi my name is XXXX XXXX and my property was foreclosed on XXXX/XXXX/2016 by SPS " Select Portfolio Services '' located on XXXX XXXX XXXX XXXX, XXXX XXXX, CA XXXX, I was currently working with the lender to obtain a loan modification, I am confident I qualify for a government program that would have saved my home but the lender refused to work with me, I do believe i was the victim of a wrongful foreclosure as i feel this was a predatory loan.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 902XX
Submitted Via: Web
Date Sent: 2016-09-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-09-07
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I was behind one month ( actually 15 days ) on my mortgage and was working to catch up that 15 days. My mortgage company SPS sent out some one twice to see if I was still living at my home ( cost XXXX a visit ) and sent letters threatening foreclosure and short sale over only being officially one month behind. This is a loan owned by XXXX XXXX XXXX. My XXXX was behind an equal amount of time but owned by a different resource and I received no such letters or threats. I see this as bullying and fee gouging.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NM
Zip: 88220
Submitted Via: Web
Date Sent: 2016-09-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-09-07
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Received notice from XXXX that SPS would be taking over out mortgage servicing and to not send a payment after XXXX XXXX ( next payment was due XXXX XXXX XXXX ). We had to wait for the new account to be established to send in the payment to SPS in XXXX 2016, after we received the paperwork on how to manage online account we attempted on XXXX XXXX to register the account ( unknown account number error ) then on XXXX XXXX ( due date ) we attempted again and the " Security code '' that was supposed to be emailed to our email address never arrived, not in spam folder either, attempted under two other email addresses none worked. The phone number we are required to call asked for account number, enter it and we get hung up on ( tried this 6 times on 4 different days ) ; finally requested the code in writing, no response. Now my mortgage payment is sent in 8 days late ( grace period in until XXXX ) by my bank XXXX on the XXXX of each month and cashed by SPS on the XXXX of each month ( XXXX & XXXX ) however, they call me starting on the XXXX and do n't stop until the XXXX for payment stating its late, today the XXXX they called my private cell phone number which I never gave them so how did they get my cell number? And why are they calling when the account is current? When I call the automated line, enter my account number it states my last payment was made XXXX XXXX and my next payment is due XXXX XXXX. I am XXXX and the back and forth to the phone is ridiculous, having access to the online account would be helpful and I have requested they communicate in writing. There is no need for endless phone calls when the bill is paid, I consider this harassment when there is no reason for the calls, really wish I had a choice about this company being involved in my business.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 22193
Submitted Via: Web
Date Sent: 2016-09-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes