Date Received: 2023-06-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our original mortgage was secured via XXXX XXXX, which took correspondence from the, President Obama, and the US Treasury Department to finally secure a 'reasonable interest rate ''. After that all went well until XXXX XXXX transferred service of our mortgage to SPS, ( Select Portfollio Servicing ), when things went astray. They operate like a 'collection agenacy ' bordering on harasssment with seemingly no cohesiveness with their records. The most recent example... ..we were first notified due to an increase in escrow our monthly payment increased. We were notified by letter of the changes and increases, along with an explanation on how to have it lowered by paying the increase in escrow. This began in XX/XX/2023, so we sent in the XXXX mortgage payment, along with money to be applied to the escrow increase. During this time we also made changes in our home insurance coverage that lowered the premium, all of which should have allowed the lower mortgage payment to be reinstituted. That's when the trouble began, first receiving calls that our XXXX payment was overdue, which, of course it wasn't, and SPS stating our monthly payment was still the same. After multiple conversations with SPS agents and Supervisors, they 'apologized ' and stated they would make necessary adjustments, however, we continue to receive calls still claiming our XXXX payment is still 'overdue ', relentlessely, which is very frustrating and causing undue stress and concern with my wife. SPS is not worthy of handling mortgages if they are not able to communicate and document properly.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 275XX
Submitted Via: Web
Date Sent: 2023-06-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Increased my payments over XXXX over last 6 months undervalued my tax and insurance payment shows XXXX instead of XXXX tax and insurance actual went down XXXX to XXXX Said my escrow beginning balance s/b XXXX when it should be 1935 This all results where my annual amount of payments for escrow s/b XXXX which is less than XXXX based on XXXX mos they want to charge me Something is wrong with their calculations
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 60440
Submitted Via: Web
Date Sent: 2023-06-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I Cancel the Auto Payment before XX/XX/2023. Select Portfolio Servicing made unauthorized withdrawal on my personal checking account of amount {$5200.00} and i call my bank to stop payment which result me a {$30.00} stop payment fee on XX/XX/2023. same day XX/XX/2023 Sps called me XXXX asking when will i pay my mortgage.I said i already made a partial Payment of {$2000.00} because im taking Advance of Notice XXXX XXXX XXXX XXXX XXXX, XXXX XXXX that i can make a partial payment But SPS DOESN'T acknowledge the notice. I send the Notice of XXXX XXXX along with my {$2000.00} Check payment and SPS accept the payment but Didn't apply it to my Monthly payment instead SPS send me a notice.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92708
Submitted Via: Web
Date Sent: 2023-06-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-22
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Dear SPS, We purchased a home and through title office paid off the seller 's mortgage serviced by SPS who accepted funds matching XXXX XXXX. The following week, SPS later conducted an illegal foreclosure. We have been told through our title company that the Foreclosure XXXX has unwound that foreclosure but as of this writing we have no proof of that ). As buyers, we were also pressured after closing to pay $ XXXX additional above and beyond the seller 's payoff statement or they would return our payoff wire and keep a much larger amount from the highest bidder at foreclosure auction. Below are the relevant facts : SPS Servicing refused to provide payoff statement to borrower good through the foreclosure date as required by Texas law despite repeated requests beginning 14 days in advance. SPS refused to provide breakdown of $ XXXX escrow impound. SPS conducts the auction after they have accepted payoff funds in the amount of XXXX payoff and the deed is recorded. Despite also declaring at the auction that the payoff opening/credit bid was $ XXXX same as XXXX payoff, SPS then threatens to return the $ XXXX payoff and keep the $ XXXX winning bid unless we increased our $ XXXX to $ XXXX by immediately sending {$4800.00} Additional funds had to come from the buyer by that point. Below is a summary of the relevant facts to this illegal foreclosure : XX/XX/XXXX Property under contract XX/XX/XXXX Phone call to SPS Servicing w/Seller and Buyer to request Payoff, Reinstatement Good thru XXXX XX/XX/XXXX Received $ XXXX Payoff Statement but is only good thru XXXX. SPS is requested to provide GT XXXX XX/XX/XXXX XXXX XXXX XXXX form sent to SPS again requesting payoff valid thru XXXX Also requesting breakdown of $ XXXX Escrow impound part of payoff statement XXXX Various calls to SPS for payoff GT XXXX. Despite submittal of XXXX XXXX XXXX, SPS refuses to discuss or provide information XX/XX/XXXX Buyers and Sellers sign/notarize closing docs XXXX early morning lender sends funds to Title XXXX afternoon Title sends funds to SPS XXXX SPS Receives XXXX Funds XXXX Deed and Deed of Trust Recorded XXXX XXXX Clerk XXXX Foreclosure Trustee Auctions off the house anyway declaring opening bid of $ XXXX XXXX Seller has spent {$400.00} to date in various rent application fees and being denied largely bc of foreclosure auction XXXX SPS claims the payoff increased in one day XX/XX/XXXX by $ XXXX to $ XXXX for property insurance. Suggests if we dont pay immediately they could return the $ XXXX and move forward selling to bidder at auction for $ XXXX XXXX Buyer through its lender wires an additional {$4800.00} to SPS XX/XX/XXXX SPS confirms receipt of funds and advises foreclosure trustee of receipt of funds While our Title company assures us that the illegal foreclosure has been unwound, the seller still has nothing to mitigate against reputational damage and is therefore unable to obtain approval to obtain housing. Buyer is out the additional {$4800.00}. Buyer also can not take possession of property until seller is able to get Landlord approval beings denied due to illegal foreclosure.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75078
Submitted Via: Web
Date Sent: 2023-06-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our mortgage servicing company, SPS XXXX XXXX XXXX ( SPS ), refuses to release insurance settlement funds desperately needed to finish the restoration of our home caused by a furnace fire. Our furnace caught fire on XX/XX/XXXX, we immediately informed SPS, and our insurer, XXXX XXXX XXXX, immediately began helping us with the restoration process by supplying the funds we needed to begin the restoration process. Our home immediately became uninhabitable with oily, toxic soot and we took up shelter in a nearby hotel. We received a letter from SPS on XX/XX/XXXX stating that we qualified for an immediate check release should we receive an insurance payment requiring their endorsement as well as ours. A copy of their document is attached. We received a XXXX} check on XX/XX/XXXX for immediate housing and food as XXXX XXXX began covering our hotel expenses. Of the XXXX remediation companies XXXX XXXX suggested, XXXX XXXX was the only company who called us back and was hired to begin the restoration on XX/XX/XXXX. Their estimate was approved and we received a check for XXXX to settle their invoice once the work was completed to our satisfaction. SPS 's name did not appear on either check. Before remediation could begin, the furnace and flex ducts needed to be replaced. XXXX XXXX XXXX XXXX XXXX ' estimate was approved and all work was completed on XX/XX/XXXX. XXXX XXXX issued their portion of the payment of XXXX on XX/XX/XXXX and we added out deductible of XXXX to pay XXXX 's total invoice for XXXX}. Again, SPS did not appear on the payment check. The remediation project was completed approximately 3-months later on XX/XX/XXXX and XXXX XXXX was paid in full after we were satisfied. XXXX subcontracted our textiles cleaning ( upholstery, clothing, etc. ) to Renewal by XXXX and their estimate of XXXX was approved by XXXX XXXX, but has not yet been paid. XXXX has all of our home contents ( chairs, tables, case goods, etc. ) in their cleaning facility and that estimate has yet to be presented. Their final cost depends upon the completion of the " build-back '' portion of the restoration as storage fees may need to be added. Meanwhile, XXXX XXXX has been paying for our lodging expenses, mileage, and food with an estimated {XXXX in additional claim funds ( no SPS on any of those payments ). We received a payment of XXXX in reimbursements for receipts we submitted and SPS was not included. The " build-back '' contracting company estimate ( re-painting, new carpet, lighting replacements, etc. ) by XXXX XXXX XXXX was presented to XXXX XXXX. We received a check on XX/XX/XXXX for the amount of XXXX to pay for XXXX 's portion of the project, but SPS 's name now appeared on the check. As instructed in the SPS document, we sent the check without our endorsements to their XXXX, Ohio office on XX/XX/XXXX in anticipation of their quick turn-around commitment. They received it on XX/XX/XXXX, but the check was never returned as promised. XXXX was to begin work on XX/XX/XXXX, but the project XXXX asked us to identify our mortgage company. When we provided SPS 's information and the project was stopped. XXXX 's reason was that SPS takes too long to pay out and that we would have to find another XXXX to work with. As of today, SPS refuses to release any of the " build-back '' funds because they now need to " monitor '' us to make sure " the work gets done '' because " we might run off with the money. '' Where were those SPS inspectors for the past 3-months-plus while we were restoring our home? We lost the contractor we worked two long months to procure and our restoration has stalled for the past 2-weeks! Repeated phone calls to SPS has accomplished nothing and they refuse to release any funding. The insurance money is OUR money and we need it so we can begin searching for another contractor. We need OUR money now! We had the home built in XXXX, we have been its only occupants, and we've paid our mortgage, escrow, insurance, and tax payments for over 27-years! It makes no sense that SPS lied to us and are holding our insurance check. They can not cash it without our signatures and we can not finish restoring our property to pre-loss condition without the funds! There will be more checks coming to reimburse us for personal item losses, mileage, additional interior cleaning, and other pre-loss related expenses. We understand that SPS will most likely appear on those forthcoming checks and we can not endure the delays they will create as those we are currently experiencing. SPS has been informed that they can send as many inspectors as they wish to make sure the work is being completed, but that THE FUNDS ARE NEEDED TO COMPLETE THE WORK! We have been trusted with an estimated {$56000.00} in insurance funds so far and the restoration has been ongoing. Now, we're at a standstill while SPS 's incompetence and lies have stopped all progress. Please help us get OUR money so that we can move back into OUR home. Respectfully, XXXX XXXX & XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OH
Zip: 45458
Submitted Via: Web
Date Sent: 2023-06-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-21
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I call in, speak with rude representatives. They don't listen, rush you off the phone or blind transfer the call or hung up on you.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92879
Submitted Via: Web
Date Sent: 2023-06-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-21
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/22 I applied for a {$25000.00} Homeowner 's Assistance Fund grant through the State of Michigan. I was approved for the grant on XX/XX/22. My mortgage lender, Select Portfolio Servicing ( " SPS '' ), received the {$25000.00} grant from the State of Michigan HAF on XX/XX/22. SPS did not tell me they received the funds from the State of Michigan, nor did they apply the funds to my then-existing outstanding balance of {$77000.00}. Instead, without my knowledge, on XX/XX/22 SPS sent the funds back to the State of Michigan and said did not accept it because it wouldn't have brought my balance current. I was forced to sign a loan modification agreement of {$77000.00} instead of the {$52000.00} which would have been owed after SPS applied the {$25000.00}. This is not fair and I would like for SPS to accept the {$25000.00}.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 480XX
Submitted Via: Web
Date Sent: 2023-06-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am attempting to get a new loan from a different company and need information from Select Portfolio Servicing ( SPS ). I have talked to the agent, ( not my representative ), the loan officer from the new bank has spoken with them, and we have collectively spoken with them in regards to needing a simple statement that I was not more that 46 days late on a payment, a statement that can clearly see and have made on recorded lines several times since Thursday, XX/XX/XXXX. In response, they have posted the same 2 letters ( attached ) to my portfolio which is their way of emailing me ; one is the general correspondence letter ( form letter ) stating they received a request for information, and the second is my pay transaction history. We have had both of these documents for quite some time. They will state that I was no more that 46 days late on the recorded line but will not send it in writing. This has caused me to lose the purchase of a house. Furthermore, I receive a monthly statement saying I owe {$410.00} monthly for my mortgage, I have been paying that amount twice a month since XX/XX/2023. They are not treating the second payment as a full mortgage payment but as a second half monthly payment, even though my monthly payment is only 1 payment of {$410.00}. I actually pay them {$420.00} every 2 weeks. This company has totally ruined my ability to purchase a new home, somehow is allowed to collect more than I owe, and is refusing to effectively communicate ( in writing ) my contract ( s ) with them. When we ask what our monthly statement is, they say {$410.00}, which is less than what we are paying now.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: KS
Zip: 67217
Submitted Via: Web
Date Sent: 2023-06-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hi, I am customer of https : //www.spservicing.com/ my LTV ratio is lower that 60 % almost and they are not removing my PMI until XX/XX/2025. I already had some financial trouble with fire and increased property taxes in XXXX XXXX, NJ. If they can remove {$69.00} PMI it would really help. Please let me know if you would need any more information. Thank you XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07304
Submitted Via: Web
Date Sent: 2023-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-06-21
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: This is my second complaint, the first was submitted to my lender, Select Portfolio Servicing on XX/XX/XXXX with no response. As stated previously, I have title to the property located at XXXX XXXX XXXXXXXX XXXX, XXXX, CA XXXX, however the loan is in my deceased parent 's names, XXXX XXXX XXXX XXXX. I am the successor. I asked for a forbearance during COVID over the phone without any paperwork signed or a discussion of repayment options. I was able to renew the forbearance several times. I began receiving notices stating the forbearance was coming to an end with no end date. After a total remodel of the main home due to an unreported water leak, I was able to rent 2 of the homes and resume mortgage payment. My XX/XX/XXXX payment was accepted, then my XXXX payment was returned. A Notice of Default was filed. I began the process of assuming the loan in XX/XX/XXXX. After submitting and resubmitting documents they refused I was able to complete the assumption package XX/XX/XXXX. In the meantime a company, XXXX XXXX XXXX XXXX file a Notice of Sale for XX/XX/XXXX. Several customer service reps at SPS told me the foreclosure process would be halted during the assumption process. I was read a statement by my assigned Relationship Manager, XXXX XXXX stating SPS can ask for a change in the date of sale. She refused to tell me if they have asked. Today I spoke with XXXX a customer service rep who told me they can not ask for a change of sale date, but could not tell me why or direct me to someone who could ask. Instead he told me to call SPS attorney, XXXX XXXX to ask them to change the date of sale. I told him I have called and left messages with no return call. I have to wait 7-14 days for an answer on the assumption which will be less 23 to 30 days before the sale, leaving me no time to sell myself if I am denied the assumption. My contention is I am being treated unfairly and they are not attempting to help me keep the property. They will not accept a partial payment, payment arrangements or a loan modification. Thank you in advance for your attention and assistance in this matter. Kind regards, XXXX XXXX ( XXXX ) XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-06-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A