Date Received: 2015-10-09
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: To Whom It May Concern, I have been fighting to save my home for the past few years with must frurstration. Recently, after doing some research, I discovered some facts about my mortgage loan that was very disturbing. After further research, I decided to exercise my right to rescind my loan. On XXXX XXXX, 2015, I mailed Select Portfolio Servicing , Inc, herein SPS, a letter of rescission canceling my deed of trust and debt obligation. SPS received my letter of rescission on XXXX XXXX, 2015. Under the Federal Truth In Lending Act, herein TILA, the rescission is self-enforcing and it automatically extinguishes the lien and the liability. The statute and regulation specify that the security interest, promissory note or lien arising by operation of law on the the property becomes automatically void. I mailed the rescission to SPS because under TILA it states that delivering notification to the entity or address to which the consumer has been directed to send payments constitutes delivery to the creditor or assignees. Despite having received my letter of rescission, SPS has chosen to ignore, disregard, or deny my rescission request. I find this to be appalling because nothing in TILA gives them the right or authority to grant or deny my rescission. If SPS wanted to challenge my right to rescind, they should have filed a declaratory action against me before the mandatory statutory XXXX calendar window of opportunity expired. Not only did SPS choose not to challenge my rescission through the proper channels, they have not complied with the mandatory steps required upon receiving my letter of rescission. Since SPS or my actual " creditor '' has failed to take the mandatory steps under TILA, they have given up any defense regarding my letter of rescission and is in violation of TILA. Since the rescission process is or is suppose to be self-enforcing, failure to comply with TILA subjects SPS and my actual " creditor '' to liability for their non-compliance. Pursuant to TILA, there is no burden of proof for me to make the rescission effective, it is effective upon mailing. Furthermore, despite the fact that my deed of trust and debt obligation has now been canceled, rendered null and void by operation of law, SPS continues to attempt to foreclose on my property. I currently have a foreclosure sale date set for Monday, XXXX XXXX, 2015. I do not understand how SPS can ignore the law and attempt to proceed with a foreclosure on a deed of trust that no longer exists. Pursuant to TILA, upon the mailing of my letter of rescission and if no lawsuit against me was filed within 20 days to challenge the rescission, the creditor 's interest in my property was automatically negated regardless of its status and whether or not it was recorded or perfected. The security interest is void and of no legal effect irrespective of whether SPS or the creditor made any affirmative response to the note. SPS and the creditor should be held accountable for their actions or the lack thereof. Any and all foreclosure action against my property should be canceled immediately. I feel it is my duty to report their behavior and their blatant disregard for the law to whatever authority regulates them. Their behavior is unacceptable. Thank you, XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 93313
Submitted Via: Web
Date Sent: 2015-10-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-09
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Select Portfolio Servicing, as a 3rd party debt collector, is attempting to steal my home. i have defaulted the company for fraudulent documents and misdeeds, counterfeit documents, identity theft, slander of my title, false claims to IRS, and more. Today i find that they have caused to be recorded a Notice of Trustee sale on my private property. By their alleged records, they say the last payment made on my home was XX/XX/XXXX, which i have said is time barred from collection, regardless of the fact it is not owed. i have spent years gathering evidence, reaching out in attempts to settle this manner honorably and give the ability to XXXX and all entities involved with them in these actions, the ability to correct their damages against me. I have gone to the last degree of notice to them by filing a Notice of Default and have a lien against them for the damages. i have proven that the grant deed they are using is a forgery. Now, they are attempting to do a trustee sale on XX/XX/XXXX, on the trustee sale document it warns bidders they are bidding on a lien, not the property, but it is a trustee sale with my private property. i have open criminal claims and insurance claims against SPS and associates as well. The CFPB has made it very clear that attempting to collect a time barred obligation, foreclosing as a debt collector that has no standing, using the USPS, recording fraudulent documents is all criminal and i also have assignments proven void. DEBT COLLECTORS CAN NOT FORECLOSE! i have offered affidavits of fact, they have defaulted on answering any and on the TILA RESCISSION demand that was done many times. Filing a NOD on any debt they are attempting to collect that is past statute of limitations is also unlawful, though i do not owe them any funds, or any entity they are attempting to collect on behalf of. No power of attorney was recorded with any of their claims, they used multiple counties to record documents and also lied saying i rented out my home claiming i do not live there. They have caused documents to be filed by another Debt Collector, XXXX XXXXThis is serious and i must have assistance in stopping this grand theft of my home. here are codes that i have found : Penal Code 115 - felony ( knowingly procures or offers false document for recording or filling ) ; CA Penal Code 115.5 - felony ( recording false document affecting title ) ; XXXX Penal Code 115.5 - felony ( false sworn statement to notary ) ; XXXX Penal Code 118 - felony ( perjury ). XXXX Penal Code 132 - felony ( offering false evidence ) ; XXXX Penal Code 134 - felony ( preparing false document for deceitful purposes ) ; XXXX Penal Code 470 ( a ) - felony ( forgery - no authorization to sign ) ; XXXX Penal Code 470 ( c ) - felony ( forgery - falsified court evidence ) ; XXXX Penal Code 470 ( d ) - felony ( forgery - falsified acknowledgement ) ; XXXX Penal Code 471 - felony ( forgery - falsifying records ) ; XXXX Penal Code 471 - felony ( falsified acknowledgement ) ; XXXX Penal Code 475 - felony ( forgery - facilitating passage of forged instrument ) ; XXXX Penal Code XXXX ( a ) - felony ( fraudulent representation to defraud a person of money or real property ) ; XXXX Penal Code 1189 ( a ) ( 2 ) - felony ( notary false statement ) ; XXXX. Government Code 8225 - ( Notary coercion ) ; XXXX Government Code 406.009 ( 6 ) - ( Notary/Signatory fraud ) ; XXXX Penal Code 489 ( b ) - felony ( Grand Theft and grounds for ) i do not owe any obligation to XXXX or those they claim they represent, they are fraudulently attempting to decieve and sell my home through deceptive and unjust actions. . I DO NOT HAVE A LOAN OWED TO THESE ENTITIES! i did not contract and do not contract with any associated entity of XXXX or alleged affiliates. The choice of which process this relates to is not accurate to this complaint, it is not a mortgage as there is none, it is nothing owed or borrowed. There is no executed contract.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2015-10-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-10-09
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My name is XXXX XXXX XXXX, residing at XXXX XXXX XXXX XXXX . In XXXX, Florida, for over 15 years, with my Spouse, who passed away, and there began my struggle to keep my home with the reduced income, since I was only a part-time XXXX Instructor. At the time EMCserviced the Mortgage, and I had a difficult time trying to do a loan workout with them. Suddenly XXXX XXXX, took over and quickly sold the Mortgage to the current Servicer, SPS. I reached out to SPS and it took almost a year before I began receiving correspondence from SPS. I have submitted Loan Packages over and over, only to be told they never received any of them. Now I have an experience Third-Party who have managed to get a response from SPS, However, my dilemma worsen when my home caught on fire, and the Insurance Company moved me into a rented Apartment. This house was determined by the Fire Inspector, and the City Inspector to be inhabitable. The Adjuster, have determined that it will take {$100000.00} to restore the home to standard. They have sent the first Check in the amount of {$67000.00} as the first installment to get started. The Contractors are ready, but SPS IS HOLDING THE CHECK because they are not sure they want to rebuild it because I am in default. Meanwhile, the Insurance Company will only extend the time until XX/XX/XXXX. to remain in the rented Apartment. SPS, will not make a determination on the Request for a Loan Modification. I want to remain in my home, because of the memories and the incompetence of XXXX, and XXXX XXXX cavalier attitude, I am stuck with TIME RUNNING OUT, AND I WILL BE HOMELESS!!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32810
Submitted Via: Web
Date Sent: 2015-10-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-10-08
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My mortgage Acct # XXXX which was sold/transferred to SPS from XXXX was approved for a modification prior to the transfer. Throughout this transfer there has been a lot of confusion for me due to the timing of the transfer and the manner in which it was handled. I have been advised that the terms of the XXXX Remodification should have been honored by SPS, Select Portfolio Servicing, and that changing the terms is unethical and illegal. The mortgage terms in the documentation from SPS are nothing near what the terms I received from XXXX are. Please review the attached document from XXXX with the terms that I agreed to. I completed my trial period payments as agreed and I presume that the original terms are binding. I also understand that XXXX did not include the documentation for the remodification until I made it known to SPS and made a request that they be sent over. I will be advised by an attorney as to what my legal rights are in this matter. Please advise. Thank you.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92508
Submitted Via: Web
Date Sent: 2015-10-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-08
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: SPS Loan # XXXX XXXX XXXX XXXX, XXXX CA XXXXSPS has never offered the homeowner any alternatives to foreclosure, and is refusing to entertain the possibility of a short sale. There is an upcoming foreclosure date and we have submitted a short sale package with an offer. We are requesting the auction to be postponed and allow time for short sale review. 1 ) Valuation fraud XXXX all properties with SPS are mysteriously {$75.00} - $ XXXX higher valued than market value when a file is submitted. NO ONE hired by SPS has been in this property recently to review the homes value. 2 ) SPS violated that Home Owners Bill of Rights in California and likely violated the agreement that the Keep Your Homes California loan placed on the property. The home owner applied for and obtained federal money from the Keep Your Homes California program that was paid to bring this loan current. The initial default on the loan was due to her husband passing away. Once the money was received to bring the loan current, a further hardship was realized when she was laid off from her job. At no time has SPS attempted to reach out to her and attempt any type of workout. 3 ) As we have come accustomed to .... We expect that the CFPB will get the form letter canned response from SPS that we have seen over and over again. If the CFPB tracks SPS ' response they will notice that they are all exactly the same .... it is interesting that at no time did SPS comply with California 's Home Owners Bill of rights. I also find it very interesting that on ALL of our files with SPS we have had to file CFPB complaints to get them to work on them. We have been told by employees in your company that you are extremely understaffed ... which raises the question ... is SPS simply a foreclosure mill in violation of state and federal law ( as well as defrauding their investors -- which they are doing ). Only giving cash for keys instead of doing a work out is a great way to not have to hire employees to do work outs ... I will hand it to SPS, they believe that they have found a way to circumvent both State and Federal Mandates -- - I would request that the CFPB pull all servicing and correspondence records on this file ... We will be happy to submit address and loan numbers for all of our current and past SPS files to help build a case against SPS. I am sure that if the investors ... who by the way end up paying cash for keys offers to the home owners, would be appalled to know that SPS continually violates State and Federal Statues that may one day result in increased losses to them. I also find it odd that SPS is the ONLY lender that we are current having this issue with non-compliance with State and Federal laws.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92021
Submitted Via: Web
Date Sent: 2015-10-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-07
Issue: Settlement process and costs
Subissue:
Consumer Complaint: I originally filed complaint number XXXX against Select Portfolio Services, and their response, which I disputed, contains some outright falsehoods and misrepresentations : In the first part of SPS 's response, they said since they are only the servicer of my account, they could not respond to any allegations regarding origination. Why did it take so long to tell me this? And why are you responding to my right to rescind? In which response you say that my loan originated XX/XX/XXXX which it did, but my right to recision is based on a modification done XX/XX/XXXX, which is well within the 3 year limit. SPS also alleges that another lien was not paid off in the modification ; the fact that this collecting of funds XXXX used to pay off XXXX XXXX without my knowledge or consent was not disclosed in the modification is a major part of my complaint ( which SPS says is not their responsibility to respond to XXXX. I have ordered the following from XXXX Mortgage : Copy of Payoff Request from XXXX ( which I never authorized ), a copy of the payoff letter directed to XXXX, and a copy of the payoff check from XXXX and a copy of the release of lien sent to XXXX. As soon as I receive these I will forward to CFPB. The above is in response to SPS 's non-response. I have also registered a complaint against XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TN
Zip: 37129
Submitted Via: Web
Date Sent: 2015-10-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-10-06
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I had a mortgage for my home with XXXX mortgage. I was granted a modification by XXXX on XX/XX/2012. My new monthly payment is {$420.00} XXXX sold or transferred my mortgage to SPS Select Portfolio Servicing Inc. SPS Inc. refused to acknowledge my modification. I have an ongoing bankruptcy case. My modification was filed with the judge that was handling my case at the time and was approved. SPS filed paper in court to dispute my modification. My modification is valid. I spoke with a representative at SPS who told me that XXXX did not transfer the modification.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32129
Submitted Via: Web
Date Sent: 2015-10-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-10-06
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: To Whom It May Concern, I am filing this complaint because Select Portfolio Servicing XXXX Inc., hereinafter referred to as SPS, has violated the Federal Truth In Lending Act. I have filed other complaints alleging other violations, however, this is the first I have filed a complaint against them for violating the clear and concise laws that make up the Federal Truth in Lending Act, hereinafter referred to as TILA. On XXXX XXXX, 2015, I mailed SPS, a notice of rescission. SPS receive my notice of rescission on XXXX XXXX, 2015. Under TILA, the rescission is self-enforcing and automatically extinguishes the deed of trust and the promissory note by OPERATION OF LAW. The act has also noted that delivering notification to the entity to which the consumer has been directed to send payments constitutes delivery to the creditor or the assignee. Upon receipt of the rescission, they ( SPS and/or the " creditor '' ) were to take specific and mandatory steps within twenty ( 20 ) calendar days of receipt of the notice of rescission. The Act makes no distinction between the right to rescind in 3 days or extended as neither cases nor statute gives the courts equitable discretion to alter TILA 's substantive provisions. This matter was strongly supported by the Consumer Financial Protection Bureau in the recent Supreme Court Ruling XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX that was decided on XXXX XXXX, 2015. Pursuant to the Act, XXXX XXXX XXXX ( b ), if SPS did not agree with my right to rescind or felt that I was not entitled to a right to rescind, they, as a " creditor '', were suppose to file a declaratory lawsuit against me to challenge the notice of rescission. They failed to take such action. Since they have failed to take any action within the statutory 20 calendar days, they have forever waived any and all defenses to the rescission. They have also failed to take the necessary steps to provide me with a reconveyance releasing the deed of trust and tender all monies paid in connection with my debt obligation to me. Although I am not looking for any monetary awards, I am entitled to a reconveyance of the deed of trust. SPS has sent me a couple of letters in response to my notice of rescission denying my right to rescind, however, the security interest is void and of no legal effect irrespective of whether they and/or the " creditor '' makes any affirmative response to the notice. There is no provision under TILA that allows them the right or authority to grant or deny my notice of rescission. If they disputed it, they had 20 calendar days to file a lawsuit against me and they have failed to do so. By operation of law, any interest SPS and/or the " creditor '' had was automatically negated regardless of its status and whether or not it was recorded or perfected. SPS is attempting to foreclosure on a deed of trust that has been canceled and is no longer a legal instrument. Since they have failed to abide by the mandatory acts under TILA, I am under no further obligation to SPS and/or the " creditor ''. For one, they have failed to abide by the statutory 20 day window period. XXXX, they are unable to establish that they are the true " creditor '' of my debt obligation. Due to the fact that the deed of trust has been canceled, they ( SPS and/or the " creditor '' ) are unable to use the deed of trust, promissory note, or any assignments to establish ownership. They must provide proof they actually lent me the funds. This is proof they do not possess and once again failed to file a lawsuit within 20 days. I felt the need to file this complaint because I am appalled and disgusted by SPS 's blatant disregard for the law. It appears they feel they have the right to do whatever they wish without any consequences of their actions. It is my belief that these laws were implemented to protect us and they should not be allowed to ignore and disregard them
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91739
Submitted Via: Web
Date Sent: 2015-10-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-10-05
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I live on a limited income that has not improved since the economic crash of 2008. As a result, a home I purchased and intended to move into dropped by almost 40 % in value while my income dropped almost 60 %. As a result, I was not able to move into my home and had to rent it to make the payments. Over time I tried to hold onto the home. But the market being so poor meant I could not charge very much in rent. Thus, I was making payments out of my own pocket to hold onto the home even though it was rented. After 5 years I ran out of money. In the meantime, the new laws that were beginning to provide homeowners some relief gave me some hope that I might be able to work with my lender, XXXX XXXX XXXX, to refinance the home to a level of payment that I could afford. With the new laws, if I could demonstrate financial need, then it would be easy. That was until XXXX XXXX XXXX sold my loan to Select Portfolio Servicing. This is where the nightmare began. I am pretty educated. Went to college, live on my own. I am familiar with filling out applications for a variety of services and things I have wanted throughout my life. However, for as much as I tried, Select Portfolio Servicing put me on a merry go round that lasted over two and a half years constantly asking me for more paperwork, all while trying to foreclose on my home, destroying my credit and the entire time, denying that they were doing any of that. I finally had to call an old friend who was an attorney to see if that would help. It did get things moving a bit more in the right direction. They could of course lie to me over the phone. But they did n't seem to want to make that same mistake with an attorney. So, another 7-9 months passed and after sending them mountains of paperwork ( which by they way they had received numerous times before ) they finally told me I was approved for a trial modification, but they could n't tell me the terms and I had to start making the new payments immediately. I wanted to hold onto my home. So I took the chance. It is now 3 months later and I finally got my loan modification agreement. The best way I can describe it is an absolute joke. This is supposed to KEEP me in my home? Here are the broad strokes.. - I went from a 30 year loan to a 40 year loan. - My annual percentage rate stayed the same at an astronomical 6.2 percent ( the current national average for a 30 year fixed is at 3.75 % ) - They took the amount I had n't paid yet and tacked it onto the entire original note. So I was now paying the payments I had n't made over the past couple of years XXXX. All of that, believe it or not, I felt I could live with. As long as the payment was low, I could begin to rebuild my credit and move on with my life and work towards getting into my home some day. Except - there was XXXX final term. And here is where, after all this time and everything I had been through - my heart sank. The final term in the modification. - At the maturity date of the loan - in XXXX, when I am almost XXXX years old and after I had paid them almost {$200000.00} for 22+ years, to finally settle the loan and keep my home, I would have to give them a final balloon payment of {$46000.00}. I 'm pretty emotionally destroyed at this point. After all that, they expect me to pay them money on a home for a good XXXX of my life, and then somehow magically come up with a final $ XXXX when I am about to retire and ca n't work anymore? So after all this, if I ca n't do that then I would lose the home anyway. Only now they would have a lot more of my money. I do n't understand how this is legal. How it was allowed in the first place and continues to be with no XXXX doing anything about it. What am I supposed to do now? I 'm not homeless. But signing this deal will make me so when I am at my most vulnerable in my life. I am ashamed to be an XXXX today. The XXXX dream is dead.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 90004
Submitted Via: Web
Date Sent: 2015-10-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-10-05
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I originally had a loan with XXXX in 2004. It was taken over by XXXX XXXX XXXX and the terms were changed without my awareness. They changed the interest rate somehow, not sure what happened, but the payments went up so high I could n't afford it, so I applied for a modification. I was told the only way XXXX XXXX XXXX would not talk to me until I stopped making payments. So I stopped. After two years SPS tried to foreclose and put liens against my business. I started making payments again and was advised to file bankruptcy for the house only to stop the liens. I had to sign the modification papers before I saw the terms. This was done by Select Portfolio Servicing ( SPS ). I have n't missed a payment since. They said they had nothing to do with XXXX and XXXX said they do n't have my loan anymore. About 90 days after I signed, they sent me the terms. I had already started making payments on a slightly lower amount that I thought was fixed. I later realized that it was an adjustable that would continue to go up and they did not lower the principal at all. It was added as a balloon of $ XXXX at the end of the loan period. I have tried several times with attorneys to reduce the principal as they had promised with XXXX or XXXX. Neither company will help or take any responsibility. In fact they charge me {$5.00} to make payments every month. And, the payment amount keeps going up where I can not afford to make payments much longer. And, they are threatening foreclosure ever time I try to talk to them to correct the terms. An investigation was conducted by XXXX XXXX XXXX, Certified Securitization Analysis. See attached. We paid {$2500.00}. Your agency was copied. So now, I have a growing mortgage payment, and a balloon payment, and no relief in sight. Please help.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94503
Submitted Via: Web
Date Sent: 2015-10-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No