Date Received: 2016-04-25
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: To Whom It May Concern, I have been fighting for my home for the better part of four years now. Much to my frustration, I have n't gotten very fair in my fight. The foreclosing trustee on my property went out of business and the foreclosing process was stalled for nearly a year and a half. Select Portfolio Servicing , Inc., hereinafter referred to as SPS, did not respond to my numerous requests for information and completely left me in the dark as to what was going on. Out of the blue last month, I received a substitution of trustee that informed me that the trustee handling the foreclosure on my home was being substituted for XXXX XXXX XXXX. In addition, a new Notice of Sale was recorded on my property, giving me a sale date of XXXX XXXX, 2016. This highly infuriated me. I do n't understand how SPS can take this action when they do not have the authority or right to initiate or proceed with a foreclosure against my home. After years of being frustrated from not receiving the information I requested and upon learning that due to nondisclosure of material information, my rescission rights were still available to me due to equitable tolling, I mailed a Notice to Rescind to SPS canceling my Deed of Trust and Promissory Note on XXXX XXXX, 2016. Pursuant to the Federal Truth in Lending Act, hereinafter referred to as TILA, SPS had twenty days to take all necessary steps to void my Deed of Trust or in the alternative file a declaratory lawsuit against me challenging the rescission. SPS took no action. SPS in clearly in violation of the mandatory laws are requirements under TILA. They are prohibited in proceeding with a foreclosure on a Deed of Trust that is void by operation of law. SPS received my Notice to Rescind on XXXX XXXX, 2016. More than 20 days have expired and SPS took no action whatsoever. As confirmed by a unanimous Supreme Court decision, the only thing I needed to make my rescission effective was to provide a written notice to my lender to exercise my right to rescind. The statute makes no distinction between the right to rescind in 3 days or extended as neither case nor statute give courts equitable discretion to alter TILA 's substantive provisions. Operation of law is a way in which someone acquires certain rights automatically under the law without taking individual actions or being the subject of a court order. It is held immune from courts ' equitable modification authority. Under the law, it is not only wrongful but illegal for SPS to proceed with a foreclosure on my home on XXXX XXXX, 2016. Under TILA, Lender must comply within twenty ( 20 ) days - return canceled note, satisfy mortgage, and return money to borrower or in the alternative, lenders MUST file a lawsuit challenging the rescission within twenty ( 20 ) days or their defenses are forever waived. Any other interpretation would make the rescission contingent, which is opposite of what TILA and the U.S. Supreme Court say. I believe it was necessary for me to file this complaint because it appears SPS believes it can violate these laws without any consequences of their actions. I am seeking the assistance of the Consumer Financial Bureau to assist me in taking action against SPS for violating federal law. Sincerely, XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92860
Submitted Via: Web
Date Sent: 2016-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-04-24
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My mortgage started at {$150000.00} with XXXX, I put down XXXX % and thought I had a decent mortgage. After XXXX went out of business, it was sold to an investor. The servicer became XXXX XXXX XXXX, I attempted a modification while being serviced by XXXX XXXX XXXX and my mortgage went to {$180000.00}, however my interest rate was 10 % with a balloon payment. My mortgage was transferred to Select Portfolio, where I was given a remodification, which brough my mortgage up to {$180000.00}. My new interest is 9 %, but after calculation, over 10 years, I have paid over {$200000.00}, my new mortgae after modification, has no pay down, I am patying interest to infinity with a baloon payment of {$180000.00} + that can come due at any time. I have tried to apply for another mortgage but because this is not FHA, I have had no success. I would like to stay in this home and have done everything I could to pay my mortgage, but this is a worst case of predatory lending, and I see no end in sight. No one can tell me what type of mortgage this is, and my questions go unanswered. I just want a regular mortgage with a moderate interest rate and a payoff date. Please help, Please
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 18042
Submitted Via: Web
Date Sent: 2016-04-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-04-25
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Was told I could be helped to refinance my property. I was never ever late but facing overwhelming debt and taxes owed by ex spouse and and SPS services left me facing worse situation. They told me to switch my bank loan to them which was perfect credit and then promised to help me.. SPS told me I had to miss a payment so I would go into foreclosure so they could continue to help me..but the reason I even applied for help was to avoid foreclosure!! I was trying to avoid foreclosure as they promised they could lower my payments. I thought it was awful they told me to miss a payment.. Even though I had never been late.. 2years of XXXX with them caused me to lose a rental property I had since 2002 for retirement income as SPS as I am close to XXXX ... I needed the property income. They made the situation worse, my renter moved out and nobody wanted to move into a property that now was possibly going into foreclosure!! and so then to try to save my credit I desperately had to try to sell the property and even when I found a CASH buyer to buy full price they waited 4 months and finally let me sell after pleading with them to please take the offer. They did but only after charging me tbousNds and thousands of dollars to them! I never got ANY help just pure XXXX!!!! The address listed is the property address that was sold. I never got the help they offered only a lost rental for income and had to pay them thousands at the end!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OR
Zip: 97068
Submitted Via: Web
Date Sent: 2016-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-04-22
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I asked for a loan Modification which was finalized XX/XX/XXXX. My mortgage prior to modification was {$140000.00} plus {$60000.00} added to the back of the mortgage. This {$6000.00} was for taxes and insurance that XXXX XXXX had erroneously paid on my behalf. When the error was realized thy wanted to increase my mortgage from $ 906 monthly to $ XXXX+ then was told it was {$1800.00} +. I stopped paying as I could not afford this sharp increase. Servicing of my loan was transferred to Select Portfolio. A modificaton was done with a 2 % interest decrease. My home was appraised for {$45000.00} in XX/XX/XXXX and {$71000.00} XX/XX/XXXX. My mortgage now stands at {$210000.00}. Taxes and insurance are now included and payments mostly covers interest with less than {$100.00} going towards principal. At this rate I will never own this house. I need some relief like Principal reduction.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2016-04-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-04-21
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: SPS ( Select Portfolio Servicing ) sent me a letter making claims regarding my case. The XXXX claims that they made were erroneous. The letter appears to be a threat of impending eviction.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: HI
Zip: 96761
Submitted Via: Web
Date Sent: 2016-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-04-21
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Good afternoon, my name is XXXX XXXX XXXX, I have lived in my property for over 10 years and have been having financial hardship due to loss of income. I recently submitted a request for a modification loan and have been told someone is reviewing my paperwork. I gave another call back this week and they stated that their attorneys are looking to foreclose on my home without evening completing my modification request. also my loan was transferred to this company and I was approved for a modification for XXXX they never honored my modification through XXXX XXXX before the took over the loan. They are the ones who made it impossible to keep up with my payments and they never called to tell me what the results were when i asked them to correct their mistake. i was already approved for a fixed loan for XXXX years through XXXX XXXX before the gave my loan to select portfolio can some one please help me stay in my home. I am back working now but still need my pymts adjusted like they were.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30238
Submitted Via: Web
Date Sent: 2016-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-04-21
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: We received a response from Select Portfolio Servicing ( SPS ), dated XXXX XXXX, XXXX. This was a response to our complaint filed with the CFPB for Case Number - XXXX. SPS attached an incomplete " payment history history '' that did does not reflect the entity to which our mortgage payments, and mortgage payoff were forwarded to on our behalf. SPS claims that our payments, and payoff, were forwarded to XXXX XXXX XXXX XXXX, for certificate holders to XXXX XXXX XXXX XXXX XXXX, as trustee, on behalf of the holders of the XXXX XXXX XXXX XXXX XXXX XXXX Certificates Holders. However, XXXX XXXX XXXX XXXX has no record of our mortgage payments, or of payoff of any loan, owed by us, in their records, and for any certificate holders. SPS attached an incomplete Payment History Record that reflects a corporate advance of {$35.00}, XXXX - due or paid on - the date of XXXX XXXX, XXXX, and reflects a payment effective date of " XXXX/XXXX/XXXX. '' In addition, the incomplete SPS Payment History Record reflects continued fees owed by us, after our payment in full by refinance for check RECEIVED on XXXX XXXX, XXXX ( see attached XXXX XXXX XXXX XXXX -- and cancelled check - but NOT reflected on SPS incomplete Payment History RECORD - as paid by us. ). The payment history submitted to the CFPB shows fees owed by us, after our payment, which was supposed to be recorded as paid in full by us - as demonstrated by attached cancelled check in attachments, but was NOT reflected by SPS as paid by us, These fees, after our check should have reflected payment in full by us - but was not reflected as paid by us by SPS -- included the following after XXXX XXXX, XXXX - date of our check for payment in full to SPS, and included fees up until XXXX XXXX, for -- ( Codes included ) -- " 745 - restricted repayment, '' " 601 - Disbursement to Servicer, " " 631- property preservation disbursements, " " 170 - Pre-distributed interest, escrow, payment, '' " 173 - Custom Payment manual or max, '' 766- Misc. Repayment, " and most important - " 633- Misc . XXXX Disbursement. '' In addition, code 181 is not reflected on transaction code listing. However, a servicer advance - in the amount of {$35000.00} is reflected as " servicer advanced '' on XXXX XXXX, XXXX -- just prior to our refinance ( loan paid in full, on XXXX XXXX, XXXX. '' Internal Revenue Service documents for XXXX Mortgage Interest Statement reflect no delinquency, or default, at any time, and can be provided to the CFPB upon request. In the meantime, given SPS 's newly recorded assignment, and discharge, on behalf of XXXX XXXX XXXX Bank recorded in our County Registrar 's Office in XXXX XXXX, it is apparent that any Statute of Limitations for diverted monies, is no longer an issue. We request an accounting in full, to us, to the CFPB, to the IRS, and to our County Registrar 's Office, and request that the CFPB forward this request to these appropriate authorities, as authorized under law.. Thank You.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NJ
Zip: 07470
Submitted Via: Web
Date Sent: 2016-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-04-20
Issue: Taking/threatening an illegal action
Subissue: Seized/Attempted to seize property
Consumer Complaint: US Bank National Association Has served me twice XXXX CA XXXX XXXX CA XXXX Its 2016 and nothing is resolved we did meditate they cant make their minds.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33462
Submitted Via: Web
Date Sent: 2016-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-04-20
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: to start with I was under a chapter XXXX in XXXX XXXX, I just made last payment and was fired from my job. I called XXXX XXXX XXXX and informed I was unable to make payment, they told me they has n't received the discharged letter yet. it took about 8 months for them to get letter. then we started paperwork for refinance numerous time paperwork was sent to them always with something not right or missing. this went on till about XXXX XXXX. I told them I had been identified as a XXXX veteran next thing I know, I 'm dealing with Select portfoilo. again same result told them I was trying to get a refinance. again same run around missing paperwork, information not right. here again I have got another notice of sale while I am again trying to do a refinance. the latest paper states, they want me to make 3 monthly payments of about XXXX and once this is accomplished they will try again if they have all paperwork, meanwhile I have received a letter of a foreclosure sale.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AR
Zip: 720XX
Submitted Via: Web
Date Sent: 2016-04-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-04-18
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Select Portfolio Services ( SPS ) is my mortgagr lender. In XXXX XXXX I applied for a loan modification, and they granted me a trial modification, from XX/XX/XXXX-XX/XX/XXXX. Despite making the required payments, they dropped me, and on XXXX XXXX declared me in default. Since then they have harassed me with field service inspectors coming to my home ( 3 times last week ). In a phone call today they stated that they have no contractual obligation to grant me a permanent modification even if I make the payments. They said in a letetr I was in default unless I paid 3 months of payments of about {$3700.00}. Their phone staff have stated that if I pay one installment of XXXX it would delay my default, but they will not confirm that in writing, and it turns out it is a false statement. They delayed posting a payment by 3-4 business days in order to cancel the trial modification. I believe their motive is that they want to get out of the deal and obtain possession of my home because it has strong positive equity. They posted my last payment XXXX/XXXX/XXXX, and did not apply it to the trial modification.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OH
Zip: 44116
Submitted Via: Web
Date Sent: 2016-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes