Date Received: 2023-05-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SPS is in violation of the terms of my mortgage contract. -They are misappropriating my monthly mortgage payments ( principal and interest ) to gain more interest payment vs. my entitled principal amount, based on calculated interest and amortization. Collectively has added to XXXX of dollars since XXXX. -They are in violation of miscalculating my yearly interest rate as per the Federal reserve board `XXXX constant 1 year maturity, '' as per the terms stated in my contract. -Upon contacting them they state that they will have an answer in " 30 days, '' it has now been months. They continue to erroneously and fraudulently apply my mortgage payment benefiting them each month in the XXXX of dollars, as of XX/XX/XXXX payment.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: UT
Zip: 84119
Submitted Via: Web
Date Sent: 2023-05-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I received a letter from SPS telling me they were increasing my payment by {$260.00} a month. I called and spoke to them and they said the federal government passed a respa law that allowed them to collect 2 months of upfront impounds along with any shortage within a 12 month period. I am asking for a copy of the RESPA law that says they can collect 2 months of impounds from me when I have been in the loan for over 20 years. I also want something that shows they can collect funds within a 12 month period. I would like a 2 year history from the lender.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-05-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-15
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: During XXXX under XXXX, tenants were not paying their rent, and I was unable to make the monthly mortgage payments. I called the bank ( Select Portfolio Servicing Inc. ) and asked what could be done on my part as well as on their end to help me. They sent me some forms to fill out and return, which I did. Around two weeks later, I called them to find out the status. At this time was informed that I was not protected under XXXX rules/regulations. This was due to the previous help they provided, allowing me to add the amount I owed onto the back of the mortgage ( {$57000.00} which they said included principle, interest, and penalties ). During this period I was informed that if I didn't make a payment of {$40000.00}, they would be foreclosing on the property. It was at this time that the tenants had applied to XXXX XXXX to pay their back rent. I accumulated approximately {$40000.00} that I sent SPS Inc to avoid foreclosure. I received the yearly 1098 figures, and I found that I had paid the bank {$23000.00} in interest for the year 2022. I believe that this is an excessive interest charge, due to the rules/regulations set forth by XXXX XXXX since we were not permitted to charge late fees. I believe I should have been been protected during COVID, regardless of previous help provided.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CT
Zip: 06851
Submitted Via: Web
Date Sent: 2023-05-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-16
Issue: Attempts to collect debt not owed
Subissue: Debt was already discharged in bankruptcy and is no longer owed
Consumer Complaint: The alleged Loan was discharged in a XXXX XXXX Bankruptcy in 2011 as exempt, non-secured, and protected by homestead. My parents are XXXX XXXX XXXX and this has become Elder Financial Exploitation. Please demand to see the documentation and evidence. It is time barred debt. XXXX XXXX owns the loan.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91505
Submitted Via: Web
Date Sent: 2023-05-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-12
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: XXXX marked as a duplicate included 10 years of bank statements requested by the select portfolio servicing ombudsman
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MO
Zip: 64114
Submitted Via: Web
Date Sent: 2023-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I had been very ill and my boyfriend had been sick with XXXX twice. I was a month or so behind on my mortgage. I called my servicer Select Portfolio Servicing and they were very easy and helpful. They quickly offered a 6 month forbearance. This was in XX/XX/XXXX. I thankfully accepted and went about the business of trying to get our lives back together. My next payment was due XX/XX/XXXX. I called to make sure all I needed to do was send it in. I was greeted by a customer service representative that let me know the full amount of my 6 months forbearance was now due. Needless to say, I was shocked. I was expecting some kind of modification to add it back into the mortgage. It basically defeats the purpose to suddenly want it from me. I was told to file a XXXX and they would decide how I was going to pay it. So then began the documents request. Over and over. I sent them, their system acknowledged receipt but yet I get another missing documents letter. THEN I start getting letters that let me know that in the background of all this they are getting everything really to file for foreclosure and there wont be anything I can do about it if my documents arent in. Sounds like XXXX!! Amazingly, they also keep sending me letters tell me my house was discharged when I filed bankruptcy in XXXXAGAIN - I sent them the documentation that I had reaffirmed the mortgage at the time of bankruptcy. Somehow they cant process this information either. I feel Im not getting good customer service because they think I have no legal responsibility for the mortgage. Its much easier to take the house and sell it to someone with a legal interest. The problem with that is that I bought that unfinished lot on a mountain in XXXX. I put my home on it and raised my children there. Now because I was stupid enough to believe the mortgage servicer was actually helping me, Im losing my home of 35 years. Im XXXX, on a fixed income and have no where to go. How can these people just jump into my life like this?
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 226XX
Submitted Via: Web
Date Sent: 2023-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I got my mortgage in XXXX of XXXX and it was transferred to SPS servicing in XXXX of XXXX. I have never had so much issues with a mortgage in my life. The Company has really screwed up with my escrow account and my monthly payment has kept increasing although property taxes have been known. There was an escrow analysis done in XX/XX/XXXX ( XX/XX/XXXX prior to that ) in which there was a ~ {$5000.00} shortage and my monthly payment was going to increase by {$240.00} over 24 months to cover the shortage. At this date, all future property tax disbursements were known. I was told on the phone that my new payment ( {$250.00} higher ) would be my payment going forward as property taxes were unlikely to increase materially after the new property tax level was set based on our purchase price. Yet in XX/XX/XXXX, I receive another escrow analysis shortage now that claims there is a ~ {$8000.00} shortage in my escrow account and now my payments will increase {$650.00} a month as the shortage will now be split over 12 months instead of 24 months. When I called SPS, they said my payment will continue to increase given reserve requirements will likely change!! They also were unable to answer my question of why we didn't get the escrow analysis correct that was just done in XXXX of XXXX when all future disbursements did NOT change. The fact they can get things incorrect and yank up my monthly bill to attempt to fix it ( and shorten time drastically to repay something that it was their fault ) seems very unethical and that they are acting in bad faith. This whole thing seems very shady and I would like all the numbers to be verified - people get " impounded accounts '' so it makes it easy to pay property tax/escrow in a simple way ( certain amount monthly ) and here it has gotten very complicated with the amounts constantly changing and disguised over 12 month vs 24 month splits when my expected disbursements have been constant. They do not know how to accurately do an escrow analysis and I have been punished financially for their disturbing behavior. I also had another issue where I had an overage in my escrow and it was so difficult to get it back from SPS. They wanted to send it in snail mail until I demanded overnight shipping. Consumer Affairs has this Company rated XXXX with XXXX reviews, unclear how they can still be in business with this level of significant complaints.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 95032
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: MY CURRENT MORTGAGE COMPANY SPS SELECT PORTFOLIO SERVICING AND MY FORMER MORTGAGE COMPANY XXXX XXXX XXXX XXXX DUE TO THE PANDEMIC I BECAME UNABLE TO POAY MY MORTGAGE FOR THE ENTIRE YEAR OF XXXX IN XXXX I MADE ARRANGEMENTS TO START PAYING MY MORTGAGE I STARTED MAKING ALMOST DOUBLE PAYMENTS FOR HALF OF THE YEAR TOTALING {$7600.00} WHILE ALSO REACHING OUT FOR HELP FROM DEO/HAF WHICH WAS {$12000.00} TOTALING {$19000.00} MY ORIGINAL PAYMENT WAS LESS THAN {$800.00} PER MONTH. I WAS SUCCESSFUL WITH BRINGING THE ACCOUNT CURRENT AND THEN IN XX/XX/XXXX I WAS SUPPOSED TO GO BACK TO TO PAYING LESS THAN {$800.00} PER MONTH TO SPS THEN I STARTED RECEIVING PAYMENT AMOUNTS FOR OVER {$1400.00} AND SPS COULDN'T TELL ME WHY. THEN IN XXXX I WAS TOLD BECAUSE XXXX DROPPED OFF I TOLD SPS TO DROP IT BACK ON AND THEY DID AND THEN MY PAYMENTS WENT BACK DOWN TO LESS THAN {$800.00} BUT IM STILL ON THE HOOK FOR OVER {$3000.00} IN ESCROW AND OVER {$2000.00} IN MORTGAGE PAYMENTS AND BECAUSE I WOULDN'T ACCEPT A REPAYMENT PLAN THAT WAS STILL OVER {$1800.00} PER MONTH FOR 12 MONTHS A LEIN HAS BEEN PLACED ON MY HOME. I HAVE BANK STATEMENTS WHERE I HAVE MADE THE NECESSARY PAYMENTS AS WELL AS A AWARED LETTER FRO DEO /HAF AS WELL AS DOCUMENTATION THAT XXXX NEVER DROPPED OFF AND ACTUALLY HAS BEEN PAID FOR XXXX AND XXXX AND NOW I HAVE TO XX/XX/XXXX TO COME UP WITH ALMOST {$6000.00} TO KEEP MY HOME I AM XXXX AN D XXXX. PLEASE HELP
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33619
Submitted Via: Web
Date Sent: 2023-06-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage servicer, Select Portfolio Servicing, INC ( SPS ), refuses to comply with the regulations included with the CARES Act on a " XXXX XXXX '' COVID-19 mortgage ( forbearance/deferral ), and added {$1000.00} to the next 12 monthly mortgage payments after an performing an escrow analysis. The declined my request, even after asking me to provide documentation indicating they should spread the escrow shortage repayment over a longer period of time, and receiving a copy of the servicing guide clearly stating : " the service must : Spread the repayment of the Escrow shortage amount in equal monthly repayments over a period of 60 months '' Below is the entire paragraph for reference. https : XXXX With respect to Escrow shortages, if the Borrower is unable to pay the Escrow shortage as a lump sum, then the Borrower must pay the shortage as part of the monthly payment ( Projected Monthly Escrow Shortage Payments ) on the modified Mortgage. If the Borrower must pay Projected Monthly Escrow Shortage Payments, then the Servicer must : Spread the repayment of the Escrow shortage amount in equal monthly payments over a period of 60 months, unless the Borrower chooses to pay off the shortage as a lump sum or over a shorter period of time, not to be less than 12 months Take into account any remaining unpaid amount of the Escrow shortage in any subsequent Escrow analysis to ensure that the Borrower is able to continue to pay all Escrow shortage amounts over the remaining portion of either the current remaining Escrow shortage repayment period or a period up to 60 months. The Servicer may not accelerate or compress the remaining Escrow shortage amount into a new Escrow payment or shorter repayment period as a result of a future Escrow analysis.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33314
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-05-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SPS, INC refuses to provide sufficient proof of the debt in which they state is owed for mortgage ( XXXX XXXX XXXX XXXX XXXX XXXX FL XXXX ) Under complaint XXXX SPS states they are unable to provide an amortization schedule. SPS, Inc also states that they provided transaction history from the previous serviced XXXX XXXX. The documents enclosed by SPS, Inc from XXXX XXXX XXXX under complaint response XXXX do not detail the terms of the modification, nor a breakdown of how the modification accounting was determined. No amortization schedule was enclosed with the mortgage loan modifictions. Under the Fair Credit Reporting Act, the debtor shall provide sufficient evidence that the debt is owed by validation as well as a full accounting of debt to justify the amount the debtor claims is owed by debtee. All of the mortgage services before SPS, Inc and including SPS, Inc are in violation of The Truth in Lending Act ( TILA ) of 1968 -It requires disclosures about the terms and cost of loans to standardize how borrowing costs are calculated and disclosed. All services are also in violation of US Code 1681-1681y section 623 ( a ) ( 2 ) of the federal fair credit reporting act. SPS, Inc is in violation of Fair Credit Reporting Act 15 USC 1681s-2 section 623 ( a ) ( 2 ). All information provided by SPS Inc regarding the mortgage loan XXXX is based on insufficient evidence. The amount in which the debtor states is owed has not been validated.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33073
Submitted Via: Web
Date Sent: 2023-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A