Date Received: 2015-08-25
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have been trying to get PMI removed for 2 years
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75089
Submitted Via: Web
Date Sent: 2015-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-08-24
Issue: Application, originator, mortgage broker
Subissue:
Consumer Complaint: XXXX and XXXX XXXX ( hence " XXXX '' ) hereby submit a complaint to the Consumer Finance Protection Bureau pursuant to 12 USC 2601 et seq. ( The Real Estate Settlement Procedures Act ( RESPA ) and 12 CFR 1024.41 ( Loss mitigation procedures ) because the XXXX ( hence " Bank '' ) failed to provide a proper review of a loss mitigation package for a modification and reinstatement of the subject loan. Summary : XXXX defaulted on the mortgage in XX/XX/XXXX. XXXX has sought a loan modification since XX/XX/XXXX. The Bank continues to request more and more documentation, yet fails to consider 99 % of the XXXX 's income in the review. Accordingly, the Bank continues to deny a modification without basis. Background : On XXXX XXXX, XXXX, four-month-old XXXX XXXX was severely injured when his baby carriage was struck by a taxicab in XXXX. This left XXXX with permanent cognitive impairment. This impairment limits his ability to obtain employment and manage his affairs. XXXX % of XXXX XXXX 's income comes from The XXXX XXXX XXXX XXXX, XXXX. XXXX and XXXX XXXX are married. XXXX owns XXXX homestead real property in XXXX County, XXXX financed through the Bank. The real property at issue was purchased and a house constructed at the height of the market in XXXX when everything was at its most expensive. Further, the mortgage is at a premium interest rate for the period of time in question. Due to a reduction in the LLP income, tax issues and poor planning ; the mortgage was defaulted upon in XXXX XXXX. By XXXX, corrective steps were put in place to remedy the problems. Since XX/XX/XXXX, by and through our attorney, XXXX XXXX Firm P.A. and XXXX XXXX, XXXX, XXXX has sought a modification and reinstatement of the loan. After submitting the initial loss mitigation package, the bank has made numerous requests to obtain additional financial documentation over and above what was submitted. Over the period in question, approximately one dozen supplements were requested and provided to the Bank. See Exhibit A for a historical timeline of events. XX/XX/XXXX Loss Mitigation Efforts : The latest loss mitigation package was submitted in XXXX XXXX. The third request for additional information from the Bank was submitted on XXXX/XXXX/XXXX to include an Affidavit from The XXXX XXXX XXXX XXXX, XXXX ( XXXX XXXX ) dated XXXX XXXX, XXXX signed by XXXX XXXX, managing director, explaining the distributions only applicable to XXXX XXXX for the years XXXX, XXXX and year to date XXXX as well as providing the projected distributions for XXXX ; again submitting updated bank statements to include XXXX XXXX XXXX XXXX XXXX XXXX bank statement account ending in XXXX from XXXX XXXX, XXXX through XXXX XXXX, XXXX, XXXX XXXX account ending in XXXX from XXXX XXXX, XXXX through XXXX XXXX, XXXX, XXXX XXXX XXXX bank statements for account ending in XXXX and XXXX good through XXXX XXXX, XXXX, and XXXX XXXX XXXX bank statements for account ending in XXXX good through XXXX XXXX, XXXX. See Exhibit B for a timeline of events as to XXXX only. The servicing agent, Select Portfolio Servicing Inc. ( hence " SPS '' ), via correspondence dated XXXX/XXXX/XXXX, denied any loss mitigation options for XXXX indicating that the account is not eligible for a modification. SPS states the reason being that the NPV results showed that the modification is not in the financial interest of the investor that owns your account. SPS indicates that the NPV value is based on the unpaid principal balance before modification, interest rate before modification, remaining term, principal and interest payment before modification, monthly real estate taxes, monthly hazard and flood insurance, homeowners association dues, how many months past due, mortgage insurance coverage, monthly income and other factors. However, SPS only considered the monthly gross wages of XXXX XXXX in the amount of {$1300.00} and n
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 34120
Submitted Via: Web
Date Sent: 2015-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-22
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: i submitted a loan modification to the select loan servicing because i do n't know who the lender is, anyway the request was received and the lender confirmed it a few months ago in which my documents were sent in by fax several times and there was someone assigned to the file, buti just received a sale notice posted on my door for a sale date on XX/XX/2015while my loan was in the process of a loan mod!!!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92881
Submitted Via: Web
Date Sent: 2015-08-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-22
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I have a adjustable rate mortagage orginated by XXXX financal purchased by XXXX XXXX XXXX and serviced by slect portfolio servicing my orginal mortagage payment was {$940.00} a month was raised to {$1100.00}. I had to go through a bankruptcy during the bankruptcy trustree made over {$27000.00} worth of payments on the mortage I have been unable to find out how and where they we applied. I have recived XXXX small settelment payments from the suit the goverment brought forth aginst XXXX XXXX XXXX. It was my understanding that as part of the settlement they hade to offer me a loan modification at market rate.XX/XX/XXXX I entered into a loan modification agreement. Made my XXXX payments totaling {$4100.00} I was sent a modification agreement of {$1300.00} per month at an 8.78 % interest rate when market rates were 2.75-3.25 % I told them this was unacceptable. I told them I would only accept an at market rate as there settlement provided for. I was promised by there repesentive they would work this out. I was asked by slect portfolio servicing to resubmit the modifaction paper work XXXX times which I did then they would switch my loan servicer which the did no less than 16 times from the time I filed the orginal modifaction agreement to the Present Date XX/XX/XXXX. All the while they would say they were missing paper work or it was expired or I would have to start over with a new servicer It got so bad I got my attorney involved and he submitted my paper work no less than XXXX times he always got the same answer as I did something was missing or we got a new servicer.Seeing how I would not go away they tried a new approch they failed to pay my property taxes for 3 years XX/XX/XXXX-XX/XX/XXXX even though they charged escrow for the amounts my home went threw a tax forclosure sale XX/XX/XXXX and I had until XX/XX/XXXX to pay the redemption amount. I notifed select portfolio servicing of this fact the said they were aware of it and would see what they would do. Fearing I would lose my home I paid The redemption amount to save the house on XXXX. They did not pay the taxes and my next communaction XX/XX/XXXX I got was from XXXX and XXXX that they would be foreclosing on my home. I disputed there claim. I have not heard from them seince. These people have done nothing but harass me and tried to use fraudlent means to take away my home. The Federal Goverment has punshed XXXX XXXX XXXX and Slect Portfolio Servicing for this very thing.
Company Response: Company believes complaint is the result of an isolated error
State: MI
Zip: 487XX
Submitted Via: Web
Date Sent: 2015-08-22
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-21
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I am trying to short sell my home, my servicer is Select Portfolio Services ( SPS ) the servicer sent an FHA appraiser to my home and the result was the retail value of my home is {$150000.00} I have a contract for sale for {$150000.00}, that 's {$5000.00} more then the retail value of my home, In short selling my home i was hoping to receive the {$1000000.00} relocation money to move. however the servicer told my Realtor that I would get any relocation money because i have Mortgage Insurance on the loan. They denied the short sale and gave no reason they just stated " that this option is not available at this time ''
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33461
Submitted Via: Web
Date Sent: 2015-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-21
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Hi my name is XXXX XXXX XXXX I am with.Sps serviceing loan I have been dealing with them for months sending in paper work trying to get into the modifiction and home save program. TO Save my home they have strong me along.. now they telling me and my daughter that they ca n't put us in the modification programs or the harp my husband is decease he was a veteran of the XXXX can any XXXX help me to save my home we do n't have a lots of money we are just the average working person we got into that supreme loan scam I have been fighting since 2006 to keep my home all my retirement money is in this home please help me. Thank you why send in. All the information and then they not help me why? My husband is a decease veteran I am his spouse.. Please help me and my daughter. Keep our home. Please I was at the XXXX counseling office one day a woman who has the same as me they modified hers mortgage to {$800.00} dollars a month what joy I was hoping to get the same help not so why they held me on and had me thinking they was going to help me? I 've sent in all the information that was required for the the modifiction or the harp program why? Now they say that they wo n't give me the modifiction or put me in a program that will help me save my home please help thanks.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DC
Zip: 20011
Submitted Via: Web
Date Sent: 2015-08-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-21
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Please allow me to introduce myself, my name is XXXX XXXX. I have a legacy of issues with Specialized Portfolio Servicing XXXX SPS XXXX. This company is far from being a competent, fair and honest mortgage servicer. I have a history of the SPS miscalculating and property tax escrow funds. As a result, a local Georgia out sourced collection company XXXX XXXX has taken the negative action of placing a property lien on my property without notifying me prior. I only received a tax lien noticed from XXXX without prior communication or warning. SPS did communicated to me on this matter. In XXXX of 2015 I received a large check from SPS due to a miscalculation of my mortgage payments when my mortgage servicing was transferred from XXXX Mortgage. I received no interest or compensation for this error.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30319
Submitted Via: Web
Date Sent: 2015-08-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-20
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: For the last three months I have been working with XXXX XXXX torefinance my home. I had currently had my loan through XXXXWithout notifying me, XXXX XXXX XXXX sold my loan to Select PortfolioServicing, Inc. In fact when I opened the letter I thought it was a collectionagency, even though I knew my payments were paid it made wonder what wasup with this. I know that when a loan is transferred it is supposed to betransferred as it was with the previous lender. However, here is the problemMy property taxes are paid in my payment. When I called the new Loan companySPS they have not paid my property taxes. The representative stated thather supervisor stated that my loan was being analyzed and would not beprocessed for 60 days or more. In the mean time my taxes are not paid, eventhough I have paid SPS, and my new mortgage loan is put on hold becauseof XXXX XXXX XXXX selling my loan to SPS. Please help me with this matterI do feel I have not been treated fairly in many ways. thank you.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WV
Zip: 256XX
Submitted Via: Web
Date Sent: 2015-08-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-20
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My loan has been sold several times. My taxes were not escrowed into my loan at closing XXXX 2005, the loan officer told me the taxes were {$1000.00} per year not {$5000.00} they are like {$6000.00} now. When the loan was sold the taxes were now escrowed and since I had a negative escrow account my monthly payments were re-directed to the escrow making the principle and interest payments delinquent. I have tried for years to get caught up. Every year I give them my tax money, I enter into these crazy re-payment plans that I can not afford so I use all my savings to keep up with the plan then I have one bad month ( I work on XXXX ) then the plan gets cancelled because I have no way to come up with an extra {$700.00} - XXXX a month extra on top of my regular payment that also includes taxes and insurance. I have no savings because every cent goes to covering this extra amount. They will not update the payments I make on my credit report so I can not re-finance or even get a loan to catch up.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 13760
Submitted Via: Web
Date Sent: 2015-08-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-08-18
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My husband died in XXXX 2013 and I have been trying since XXXX 2013 to get a loan modification. I am a senior citizen and have provided SPS with the requested documents so many times I have lost count. I have never been able to talk to XXXX XXXX the relationship person assigned to me. Every time I call with is once a week he is never available, thus, each time I speak to a different person and get a different explanation as to why my loan modification has not been completed. XXXX reason given I is that my picture on the license I faxed in is too dark, which I find very offensive and do n't know how to fix. Another reason I have been given is that they could not find my son 's name on the check stubs faxed in. Which again I do n't understand because the previous person said they see the name. Every time I call which is once per week, I talk to another person and get another reason. It has been almost two ( 2 ) years and still no loan modification. I am falling deeper and deeper into debt and fear losing my home which is putting me under a lot of stress. I want the mortgage company to modify my loan. I want a fixed rate with a reasonable monthly payment and I do n't want my principle balance doubling because delinquent interest has been capitalized into my XXXX. I want to be able to talk to the same person every time I call who understands my file and my situation and who is committed to helping me. I want to stop getting the run-around from the loan servicer SPS.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 95843
Submitted Via: Web
Date Sent: 2015-08-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes