Date Received: 2023-05-25
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: XXXX The cfpb states that there was no response? I spoke to someone at least XXXX times. I submitted over XXXX documents and in a separate complaint that was marked as a duplicate. It was a duplicate of this complaint. I have since submitted another XXXX or XXXX and all of my bank statements supporting the attached spread sheet and pay history
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 64114
Submitted Via: Web
Date Sent: 2023-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-24
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Servicer, Select Portfolio Servicing Inc ( " SPS '' ), failed to disclose material facts to Buyer ( s ). Servicer, Select Portfolio Servicing Inc ( " SPS '' ), intentionally failed to disclose written copy of tenant requested repairs for missing heater that created substandard dwelling to Buyer ( s ) and resulted in eviction of tenants after sale of property. SPS failed to disclose known material facts to Buyer ( s ) that in turn resulted in financial harm to tenant ( s ). SPS knowingly failed to properly dislose material facts even after SPS received CFPB complaint on XX/XX/ ( XXXX ) requesting proper disclosure of necessary repairs and lease prior to the sale of property.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 90255
Submitted Via: Web
Date Sent: 2023-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-24
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX XXXX CA XXXX XXXX XXXX XXXX Consumer Financial Protection Bureau Subject : Complaint Regarding Mortgage Terms Change Dear Consumer Financial Protection Bureau, I hope this letter finds you well. I am writing to file a complaint and seek your assistance in addressing a concerning issue related to the change in terms of my variable rate mortgage. The mortgage in question was originally held by XXXX XXXX XXXXXXXX and was subsequently sold to Portfolio Financial Services ( PFS ) in XX/XX/2022. Since the transfer of my mortgage to XXXX, I have experienced significant alterations in the terms of the agreement, specifically in regards to the amortization schedule. Despite multiple conversations with representatives from both XXXX XXXX XXXX and XXXX, I have been unable to find a satisfactory resolution to this matter. Additionally, I would like to bring to your attention the significant difference in the frequency of interest rate changes since Select Portfolio Services ( SPS ) took over my mortgage. For over 15 years, the interest rate was adjusted once a year. However, since the transition to SPS, I have been informed that they have the authority to change the interest rate on a daily basis. This sudden and frequent alteration in the interest rate further exacerbates my concerns and adds to the overall instability and uncertainty surrounding my mortgage agreement. I kindly request that you investigate this matter thoroughly and address the issue of frequent interest rate changes imposed by SPS, as it greatly affects the affordability and predictability of my mortgage. To provide you with a clear understanding of the situation, I have enclosed the monthly statements from XXXX XXXX XXXXXXXX dated XXXX XXXX XXXX According to these statements, the principal amount was {$690.00}, the interest was {$460.00}, and the escrow was {$260.00}. However, the most recent statement from XXXX reflects a principal reduction to {$220.00}, an increase in interest to {$1000.00}, and an escalation in escrow to {$280.00}. The substantial discrepancy between the original terms agreed upon with XXXX XXXX XXXX and the current terms enforced by XXXX is highly concerning. Despite assurances from representatives at both institutions that the amortization schedule would not be altered, I am now faced with a significant financial burden that I did not agree to or anticipate. I kindly request your intervention in this matter to ensure a fair and equitable resolution. I believe that the change in the amortization schedule, without proper explanation or notification, violates my rights as a borrower. Furthermore, the conflicting information provided by representatives from XXXX XXXX XXXX and XXXX has only added to my frustration and confusion. I would greatly appreciate it if you could thoroughly investigate this issue and take appropriate action to rectify the situation. The lack of transparency and the substantial change in the terms of my mortgage have caused undue financial hardship and stress. I trust that the Consumer Financial Protection Bureau will be able to provide the guidance and assistance needed to resolve this matter. Thank you for your attention to this urgent issue. I look forward to your prompt response and a satisfactory resolution to this complaint. Sincerely, XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91301
Submitted Via: Web
Date Sent: 2023-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I was sent a modification program letter in XX/XX/2023 stating that my account was delinquent and that I had been approved for a modification. My account was never delinquent and after calling the servicing company, it was explained that my account was current and it was simply a solicitation for a modification. I told the agent that I was not interested and she explained that they would withdraw the offer. I'm now receiving a letter from the servicing company that I have been delinquent for two months that my account is put into forebearance. In order to bring my account current, I have to pay {$8000.00} for accept the loan modification. I have a monthly automatic deduction each month and for some reason, the servicer did not withdraw my payments thereby automatically putting me into forbearance. This is nothing more than a trap to push consumers into another loan modification. I specifically turned down the modification and now I have pay an {$8000.00} lump sum to bring my account current. This now puts us in a very difficult financial position for absolutely no reason what so ever. The new modification has a 30 year term and a lump sum of $ XXXX at maturity. To me, this is nothing more than fraud to trap consumers into taking the modification. It's left us with a very difficult and painful decision.
Company Response: Company believes complaint is the result of an isolated error
State: FL
Zip: 33417
Submitted Via: Web
Date Sent: 2023-05-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: The property ( XXXX XXXX XXXX XXXX MD XXXX ) was initially purchased in XXXX of XXXX. Within two years the housing market crashed, and the value of the property decreased significantly. The outstanding loan balance became more than the appraised value. Wells Fargo was the Note holder and XXXX XXXX became the servicer of the loan. Wells FargoXXXX XXXX did propose modifications but they significantly increased the monthly payment. In addition, the proposed modifications did not address the rapid and significant decrease in value. Eventually, the modification proposal increased the monthly payment on a property that was worth significantly less. Wells FargoXXXX XXXX eventually offered XXXX dollars if we handed the property over to them. Consequently, we accepted the offer in XXXX. It was my understanding that this would be a Deed-In-Lieu of foreclosure. However, it was reported on my credit report as a foreclosure. Wells FargoXXXX XXXX engaged in deceptive and predatory lending and loan servicing.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 21217
Submitted Via: Web
Date Sent: 2023-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: MY ESCROW ACCOUNT IS ALWAYS AT A LOSS WHICH INCREASE MY MORTGAGE PAYMENTS. I CALL TO FIND OUT WHY AND THEY TELL ME THAT MY TAXES INCREASE, I ASK SO MY TAXES ARE INCLUDED IN MY PAYMENT EVERY YEAR WHY IS MY ESCROW ACCOUNT AT A LOSS? I CANT GET A CORRECT ANSWER FROM SELECT PORTFOLIO SERVICES. THAT IS THE NAME OF THE COMPANY I SENT MY PAYMENTS TOO. IF I COULD GET SOME HELP AND INTO FINDING WHY IS MY ESCROW ACCOUNT AT A LOSS FOR THE LAST 5 YEARS WOULD APPRECIATED. DO YOU THINK I SHOULD GET A MORTGAGE LAWYER? THANK YOU XXXX XXXX XXXX XXXX XXXX XXXX XXXX TX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XX/XX/XXXX Let this serve as a FORMAL COMPLAINT by XXXX XXXX ( originator of loan homeowner on Deed/Title and 100 % Payor of ALL BILLS full-time resident and maintainer of property for 16.5 years against the following entities : Select Portfolio Servicing Inc. FOR XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX For violating the following but not limited to : Deceptive Trade Practices/ Unfair Business Practices Multiple violations of the Fair Debt Collections Practices Act ( FDCPA ) Fair Credit Reporting Act ( FCRA ) Willful and intentional disregard for the Federal Cares Act since XXXX ( SPS never substantiated their claim FHA was removed by way of previous modification Mortgage Fraud ( Threats to illegally foreclose on home with no legal Standing ) Refusal to honor QWR Qualified Written Request Refusal to perform MORTGAGE AUDIT ( Homeowners/Barrowers demand Forensic Mortgage audit ... to uncover overcharges that are caused by miscalculations of interest charges, monthly payments, amortization or loan balance. In compliance with The Mortgage Loan Act Violations of Regulation F ... outlining prohibitions,,, false or misleading representations and unfair practices. On XX/XX/XXXX Regulation F Officially superseded ANY previous rules found in The Fair Debt Collections Practices Act ( FDCPA ) Being denied over the last several months for Mortgage assistance and grants because Im not on the actual loan missing several opportunities to have saved my home long ago, avoiding all the pain and misery I have experienced over this mortgage. For example rushing to Tax Preparer to pay mortgage while in the process almost XXXXXXXX XXXX XXXX XXXX 2 MONTHS AGO OVER MOTGAGE ISSUES that shouldn't even exist! This is the honest to God truth!! If added to loan I CAN UTILIZE MY {$180000.00} IN HARD EARNED EQUITY AND PAY ALL THE BILLS. These are bills that hadnt gone delinquent in over 16.5 years except after XXXX XXXX XXXX, Rollover in XXXX XXXX XXXX XXXXXX/XX/XXXX THEN on XX/XX/XXXXXXXX XXXX XXXX XXXX XXXXXXXX iXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX weeks ago ago! ( See attached photos and police reports ) With no refinance opportunity nor XXXX XXXX XXXXXXXX ( which is all Ive heard for 3 years from SPS reps like a script kicking solution down the road slowly nearing default as I begged for help but treated like a peon because Im not on the actual loan but on Deed/Title and pay the mortgage. ) UNDER RARE CIRCUMSTANCES NON-OBLIGATOR BARROWER PAYOR CAN BE ADDED TO LOAN COVID-9 PANDEMIC BEING RARE CIRCUMSTANCES! Once I am added to the loan repeat ADDED not ASSUME ... Add. COMPLAINTS FILED ON SPS with : The Consumer Financial Protection board The Nevada Division of Insurance ( regarding illegal Interstate Collection efforts by Loan Servicer
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NV
Zip: 89178
Submitted Via: Web
Date Sent: 2023-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XXXX I submitted complaint XXXX. It was closed as a duplicate complaint despite XXXX never before submitted documents. The issue is still unresolved
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 64114
Submitted Via: Web
Date Sent: 2023-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Re : Continued issues after filing complaint with the CFPB complaint # XXXX XXXX XXXX. After filing a complaint with the CFPB on XX/XX/XXXX, ( see above numbered document ) ; I am now being forced to pay an additional and double escrow amount on an error of payment by Select Portfolio Servicing , Inc. to the XXXX XXXX XXXXXXXX XXXX XXXX department. I have sent documents of said payment by me for this property tax, listed on the XXXX XXXX XXXXXXXX files and paid by myself for that year ; but Select Portfolio Servicing , Inc. made a duplicate payment. Select Portfolio Serving Inc. then told me to intervene and get there payment back!!! XXXX XXXX XXXX XXXXXXXX received and sent a copy of their duplicate payment but will not refund their payment without Select Portfolio Servicing, Inc. sending them required documents. XXXX XXXX XXXX XXXXXXXX was also confused as to why I was requesting anything for Select Portfolio Servicing , Inc . In response to this Select Portfolio Servicing, Inc. penalized me and through a letter, forced me to pay an added escrow amount to repay them for the loss of monies they paid to the XXXX XXXX XXXXXXXX. Now on XX/XX/XXXX, I received another letter that Select Portfolio Servicing , Inc . is increasing the amount to pay into the escrow. Why??? I have always paid my property taxes and home owners insurance, and even had to send Select Portfolio Servicing , Inc. a letter to formally tell the company this and have the letter documented. The letter sent to me on XX/XX/XXXX reads as follows : SPS is writing to notify you that we have made an adjustment to the escrow portion of the monthly payment. Previously, the monthly payment as {$940.00}. Effective XX/XX/XXXX, the new monthly payment will be {$950.00}. This change will be reflected on your next monthly billing statement. Pursuant to your mortgage account documents, you are required to maintain required property insurance and to ensure your property taxes have been paid. In the event that these items are not resolved. SPS may pay those expenses on your behalf to protect the property. Previously, SPS or the prior server had made these advances on your behalf or there were recent payment expenses paid on your behalf, which require us to adjust the monthly escrow collection amount. As of the effective date of the payment change referenced above, there is an advance balance of $ XXXX in the escrow account. An adjustment is being made to the monthly payment to account for any changes in the escrow balance since the last payment adjustment. The shortage the escrow account will be collected over a period of no less than 12 months. When I called to speak to a supervisor she stated that from XXXX there were still monies to be paid for SPS 's duplicate payment made to the XXXX XXXX XXXXXXXX and SPS was increasing the escrow amount to finish paying that off. She said she could not request a change in the new amount but if I DIDN'T WANT TO PAY THE NEW AMOUNT I COULD JUST CONTINUE TO PAY THE OLD AMOUNT. I stated that if I did that then SPS would not pay my monthly payment sent but keep the lesser amount in unapplied funds till the full payment + new escrow amount was paid and charge me fees. She said they would not. I HAVE SENT A HISTORY OF SPS DOING JUST THAT.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Select Portfolio Serving - This lender increased my escrow {$1900.00} then sent me a letter stating my taxes went up. That is not true. I cant afford this type of increase. This lender is doing unethical things and lying to its customers.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 49085
Submitted Via: Web
Date Sent: 2023-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A