Date Received: 2023-03-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX XXXX and XXXX XXXX authorized their agent to make a formal Notice of Error with respect to the federally related mortgage transaction which alleged account is presently serviced by Select Portfolio Servicing , Inc. on behalf of XXXX XXXX XXXX XXXX, Successor in Interest to XXXX XXXX, XXXX XXXX, as XXXX for XXXX XXXX XXXX XXXX XXXX. A foreclosure sale is scheduled for Tuesday, XX/XX/XXXX to auction our primary residence at XXXX XXXX XXXX XXXX, XXXX XXXX, NY XXXX. The Notice of Error was sent to SPS on XX/XX/XXXX by Certified Mail # XXXX XXXX XXXX XXXX XXXX and by e-mail to the SPS Ombudsman 's Office. Our agent provided a detailed analysis of the initial transaction, whereby the a filed lost note affidavit failed to establish who owned the Note when it was lost and other requirements under UCC 3-804. In addition, the analysis shows that the subject consolidated note was never in the physical possession of XXXX XXXX XXXX XXXX XXXX, the lender. Accordingly, XXXX XXXX XXXX XXXX XXXX could not assign to Plaintiff XXXX XXXX, as Trustee what it did not have. Our agent supplied a complete review of the transaction and the fatal defects therein, and also two graphic illustrations that tracked the note and mortgage, illustrating that Plaintiff in NY foreclosure action Index # XXXX had no authority or Constitutional standing to commence the action on XX/XX/XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-03-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX a payoff request was submitted to refinance my property. Select Portfolio Services ( SPS ) provided an electronic payoff in the amount of {$170000.00} with a good thru date of XX/XX/XXXX. On XX/XX/XXXX a additional payoff request was submitted to refinance my property. Select Portfolio Services ( SPS ) provided an electronic payoff in the amount of {$170000.00} with a good thru date of XX/XX/XXXX. The difference in payoff amounts was the Per Diem Daily interest accrued between XXXX pay off requests. On XX/XX/XXXX my settlement company XXXX XXXX XXXX XXXX, XXXX ) sent a check in the amount of {$170000.00}. On XX/XX/XXXX the funds were returned to the Settlement Company ( XXXX XXXX XXXX, XXXX ). Between XXXX the settlement Company ( XXXX XXXX XXXX, XXXX ) tried to receive clarity on why the funds were return. They were told because a new payoff was created the old payoff was no longer valid even thou it had not expired. On XX/XX/XXXX a payoff dispute was entered with SPS and my settlement Company ( XXXX XXXX XXXX XXXXXXXX ) sent a check in the amount of {$170000.00} to pay the second payoff amount in time before that payoff expired while the dispute was resolved. The XXXX funds were returned to the Settlement Company ( XXXX XXXX XXXX, XXXX ). Between XXXX the Settlement Company has been trying to receive clarity on why the funds are being return even though they match the payoff amounts provided. I was told by SPS, the dispute entered on XX/XX/XXXX should take 30 day per company policy. It is now XX/XX/XXXX no decisions have been made on the dispute. At this point, SPS has informed me while the account is in dispute status my loan will continues to receive daily interest and subject to foreclosure. Im currently in fear of my property going into foreclosure as well as my refinance being recalled from my new lender ; causing additional fees from the refinance closing costs being recalled. My professional relationships with my lender are now in jeopardy as well as other deals in my portfolio will be compromised. The Facts- ( all supported with cellphone call logs ) 5 hours and 38 mins have been spent contacting SPS on the follow dates for resolution on the pay off dispute submitted by my settlement company. XXXX XXXX XXXX called : XXXX-46min XXXX-7min XXXX-178min XXXXXXXX-2min XXXX-14min XXXXXXXX-23min XXXX-4min XXXX-49min I personally have spent 10 hours and 53min between the dates of XXXX on the phone with my settlement Company ( XXXX XXXXXXXX XXXX XXXX ) trying to get resolution. ( dates and min can be provided upon request ) In total 17hr 31min have been spent via phone trying to get a dispute resolution and documentation showing what should be paid. I have been hung up on several times ( call logs can verify ), as well as promised call backs from several managers/ supervisors. We have gone as far up the chain as allowed. Since XX/XX/XXXX, SPS has only reached out via letter on XX/XX/XXXX to advise they would need an additional 30 days to review. No additional communication has been sent and that additional 30 day window has expired as well. I consented to all calls being recorded on SPS lines for your review. As of today XX/XX/XXXX no resolution has still been found.
Company Response: Company believes complaint is the result of an isolated error
State: VA
Zip: 23323
Submitted Via: Web
Date Sent: 2023-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-19
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XXXX XXXX XXXX XXXX XXXX XXXX XXXX, OHIO XXXX XX/XX/XXXX Select Portfolio Servicing ( SPS ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX UT XXXX XXXX : Loan # XXXX Atte : Customer Representative Dear Customer Representative , As per our conversation of last XXXX XXXX XXXX, XXXX, XXXXnclosed latest appraisal of the property encumbered by the lien you service. The appraisal complies with the requisites of the Puerto Rico Board of Appraisal as with your requirement that it include comparable of similar sales in the property area This appraisal was made and paid by me in accordance to your instructions as the proper means to dispute the BPO utilized by your company to set the possible purchase price of a short sale subject to said encumbrance. -2- THE BPO VS THE APPRAISAL As you well know, the BPO or the broker price opinion is an estimated value and as such it is used to obtain an assessment of the property. BPOs are mainly done by agent or brokers. Appraisals on the other hand are made by trained experts and therefore its accuracy is much higher since certain benchmarks, such as taking in consideration comparable sales in similar properties. Educational guidelines must be met. Appraisers in the XXXX of Puerto Rico are duly licensed by the Department of State of said jurisdiction. THE APPRAISAL The XXXX in this matter was {$250000.00}. The appraisal done valued the property at {$210000.00} ; a difference of {$40000.00}. The appraisal is enclosed. REPAIRS The property has been vacant for the last five years. Notwithstanding the appraisal price, it needs urgent repairs to maintain its habitability. The roof must be refitted as some lenders have indicate as a condition to proceed with any loan petition. Windows and bathrooms must be fixed as well as numerous other cracks throughout the property. Puerto Rico as a tropical island is subject to wetter conditions including hurricanes ( XXXX was the last XXXX last year ). As a result, the property needs constant maintenance. The last person who made an offer for the property ( offer which lacks a response from SPS ), stated that the property according to her contractor needed repairs ascending to {$48000.00}. I enclosed copy of said estimate and Therefore, I surmise that the costs of the repairs which is potential buyer must assume is another item you should consider when determining what will the short sale price would potentially be. -3- SETTING OF A PURCHASE PRICE Throughout this process SPS has never been specific what the price of the property should be. This has resulted in numerous filings of documents, especially of HUD1 document every time an offer has been made. This has resulted in an onerous process since my real estate agent as well as I must incur in expenses in professional hours and advice on how these documents must be filed. A laconic request for a counteroffer and later a possible refusal has converted this process mor akin to an auction than to a sale. We need your help in setting a minimum price that you could readily analyze. We need SPS to bet explicit and concise. BACKGROUND OF THIS MATTER On XX/XX/XXXX nd XXXX I wrote and sent a letter to you concerning the background of this transaction. For purposes of brevity and not to repeat myself I refer and quote the same, to wit : XX/XX/XXXX Re : Select Portfolio Servicing, Inc ( SPS ) Principal Loan # XXXX XXXX XXXX XXXX XXXX ( XXXX ) XXXX XXXX Loan # XXXX Dear Customer representatives, During the past year I have tried in numerous occasions to reach an agreement concerning the execution of a deed in lieu of the property located XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Puerto Rico . XXXX Although I had an approval from SPS to execute said deed, which was notified on XXXX, XXXX, the same was rescinded in XXXX of the same year due to the fact that an junior lien appeared from the Registry of Property in Puerto Rico which impeded the transaction to borne to fruition. SPS has notified to me via telephone that I have till XX/XX/XXXX to pay the property or face foreclosure proceedings. Notwithstanding the special circumstances of this case. I still have not received. -2- an answer to my inquiries. Therefore, please note the following : to wit, XXXX was the previous owner of the principal lien. XXXX once that it examined and had the pertinent documents and ascertained the death of the co-owner, approved an initial deed of lieu. XXXX appraised the property. XXXX on or about XX/XX/XXXX, made a final inspection of the property in order to ascertain that it was in good condition for the execution of the deed On or about XX/XX/XXXX the principal loan was sold and/or transferred to SPS. The whole process of sending documents such as death certificates and the like had to be sent again to SPS. -5- SPS XXXX in XX/XX/XXXX a deed in lieu of the property subject that the title was able to be transferred. SPS repeatedly asked for the probate court documents concerning the decedent co-owner although it was stated to them that in Puerto Rico there is no such -3- court, and that inheritance laws and immovable property law is different from other states. Decedents death certificate was also sent to them at least 3 times. SPS indicated in XX/XX/XXXX that the deed in lieu could not be executed because there was a junior lien on the property. I called and notified XXXX of this notification and told them that I have received assurances from them, at the commencement of this issue, that both liens would be part of the deed of lieu. In XX/XX/XXXX, I sent a letter to SPS authorizing SPS to contact SPS regarding the XXXX XXXX as I was in the impression that since XXXX had transferred the principal loan they were cognizant that there was a junior lien with the same institution. It has been my impression thru my conversation with XXXX representatives that they are amenable to reach a mutually satisfactory agreement to lessen their lost. All court proceedings regarding the decedent co-owner heirs have been made and the document will be presented in the Registry once a deed in lieu has been approved. -4 SPS has been made cognizant on numerous occasions that the heir of the decedent is a XXXX of whom I have custody. Therefore, in this XXXX instance, to execute a deed in lieu an approval must be sought in the Superior Court of Puerto Rico authorizing this transaction. My attorneys are awaiting my instructions to proceed with the court approval. Nevertheless, if SPS approves the deed in lieu we must know who represents its interests in Puerto Rico since the Court must ascertain that this a true offer. Court proceedings, due to the pandemic are mostly done thru teleconference. Home association fees will be paid in full in the event the deed in lieu is approved. As you can see, this process has been riddled with confusion and I must add a certain disdain for its denouement. My real estate broker even had on TWO occasions people interested in buying the property for the appraised price, but no attention was paid to them. The problems which have arisen are from my point of view a solvabl e. This case does not need to take more of everybodys time and effort. -5- Please review the same and notify me of your decision which will dictate the future steps that I need to take to protect my wards interests as well as my personal ones. Sincerely, XXXX XXXX XXXX XXXX Three years have passed, and this case still has not been resolved. -7- THE LEGAL ACTION Notwithstanding all my efforts trying to resolve this matter, on XX/XX/XXXX XXXX, XXXX, according to the electronic case docket of the Judicial Branch of Puerto Rico , SPS initiated legal proceeding against me and my ward in the courts of the XXXX of Puerto Rico . I have had to bring to your attention earlier in the process that your legal action while at the same time negotiating with me first for a deed a-in-lieu and later for a short sale transaction while at the same time pursuing a foreclosure proceedings is not permitted by law. Now, once again, from the electronic docket of the case it seems that you have reinitiated the foreclosure proceedings without even having a notification from our latest offer nor waiting for the date that you requested documents and without waiting, as accorded by our call of last XX/XX/XXXX for the appraisal herein included. Once again, I believe that the time is not ripe for such action, and it is to my detriment that you follow such course. PERSONAL CONSEQUENCES AND RESTATEMENT OF REQUEST The time and effort to this issue has been time consuming and costly to me especially since I only have a pension benefit and a low social security benefit. I have been unable to concentrate more efforts on my daughter so that she can have a fulfilling life and not be a burden to the coffers of the state of Ohio. Three years have passed, and this keeps dragging on. Also, this has not permitted me to have any closure since my partners death concerning the home we live and cherish since we live there there for more than 30 years. I have even had to seek XXXX XXXX to deal with the anguish and pain this issue brings me as the latest -8- customer representative who tended to me can attest. I am tired of writing letters and never-ending platitudes. Nevertheless, I strongly dispute your XXXX, request that the selling price of the property be no higher than {$210000.00}, take notice that numerous repairs must be done and do your upmost to end this never-ending process. Sincerely XXXX XXXX XXXX XXXX XXXX XXXX XXXX SPS Ombudsman Office Consumer Financial Protection Bureau Enclosures
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OH
Zip: 43220
Submitted Via: Web
Date Sent: 2023-03-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-16
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We purchased our home in 2001 at {$150000.00} with one company. Over the years our mortgage changed hands a number of times and has ended up with Select Portfolio Servicing. We had one situation where we ended up in court to save our house. We have been doing pretty well until recently. I have tried numerous times to get answers as to why the numbers don't add up after 20 years. They say the balance is {$140000.00} which I find hard to believe that after 20 years we have only paid {$13000.00}. Every person I have talked to can't or won't give me any answers. I never talk to the same person and I can never get a hold of my Relationship Manager assigned to our account. We are currently 2 months behind and they are threatening foreclosure action again. They have left notices on our door saying that they have tried to contact us, which they haven't. We don't want to lose our home but, it's going to take some time which they don't want to give us.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IL
Zip: 60133
Submitted Via: Web
Date Sent: 2023-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-15
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/2022 I signed a modification agreement with my home mortgage servicing company and I realized that none of the provisions in this modification were helpful to me or even what a modification is supposed to do to help me as a homeowner. I began to communicate with my mortgage servicing company at the beginning of the Covid pandemic. I lost my job because my employers retired and close the office. I contacted Select Portfolio and they requested documents from me to determine whether I would be eligible for a modification. Shortly after the first communication I was told that the owner of my mortgage did not offer modifications. I explained my situation and provided them with proof of my situation. I knew that the government was offering forbearance for homeowners during the Covid so I explained to Select Porfolio that I was XXXX XXXX XXXX and it was difficult for me to find employment and told them I was going to XXXX XXXX XXXX XXXX XXXX XXXX for extra income but that it would have been difficult for me to make the payment and asked if I could get some kind of relief. A few months later Select Portfolio sent me a letter stating that I had been approved for a modification. I thought it was going to help me and I immediately signed the document that was sent to me and then I was told that I had escrow arrears and that in addition to the mortgage payment I was going to pay extra.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 11419
Submitted Via: Web
Date Sent: 2023-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SPS/Select Portafolio Servicing , Inc During the refinance of the mortgage in the pay of statement pay a escrow refund {$230.00} dollars This included fore taxes and insurance mortgage. During XXXX SPS they dont pay taxes to the city of XXXXi between XX/XX/XXXX to XX/XX/XXXX. In XX/XX/XXXX I paid XXXX. They was collecting from my check account {$940.00} dollars automatically every months payment. That included a escrow of XXXX in XXXX. The first 5 month XXXX SPS take from my check account {$1500.00} dollars. I paid to the XXXX XXXX for XXXX {$3100.00}. I was paid my insurance too though the association during this years from XXXX. I had several with SPS paying XXXX dollars more less.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33193
Submitted Via: Web
Date Sent: 2023-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-15
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/2023 a trial modification plan was offered to me. A foreclosure sale date was scheduled a week after that. The sale dat is for XXXX. A modification review is also active. On XX/XX/2023, I received two letters notifying me of a sale dat and another acknowledging that a review for a modification is active. The letter also states that foreclosure actions are currently on hold on the account until XX/XX/2023. The letter went on to say that SPS will not file the first legal action, order of judgement or order of sale until after that date and that if the attorney has scheduled a sale date they will order it for it to be cancelled. This has not happened. This is dual tracking once again. I have spoken to different reps who insist that that sale date should remain even though the letter states it will be cancelled.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: IN
Zip: 463XX
Submitted Via: Web
Date Sent: 2023-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have two mortgage accounts with this company and previously submitted a complaint on one account and am having the same issue with this second account. I purchased this property XX/XX/XXXX, and the mortgage was sold to Select Portfolio Servicing, Inc ( SPS ) in XX/XX/XXXX. In XX/XX/XXXX a structural engineer determined that the building located on the property ( there are XXXX lots for the building which is why XXXX mortgage accounts were required ) was structurally unsafe and required demolition. Following relocation of the building tenants in XX/XX/XXXX, the building was demolished in XX/XX/XXXX and the lot has remained empty with no structures. I notified SPS in XX/XX/XXXX that I was not renewing the hazard insurance or flood insurance policy on the property due to the fact that there is no longer any building or other structure on the empty lot. I electronically sent documentation XX/XX/XXXX with the Certification of Completion of demolition by the city for further proof that there is no longer any building. I continued to receive notice that SPS would purchase hazard insurance so I called the company again in early XXXX, and I was told that they had received my information and would make a note that there is no longer a building on the lot. In late XX/XX/XXXX I again received a notice of intent to purchase insurance, so I sent a certified letter that again included documentation proving there is no building on the lot. Today I received a letter dated XX/XX/XXXX stating that hazard insurance has been purchased and my escrow account will be charged the amount of the insurance. I feel the company is committing fraud by purchasing a hazard insurance policy on a building that does not exist and requiring me to cover the cost of that purchase. Given the multiple times that I have communicated to them that there is no building on the lot, they can not claim that this is a simple error or that they were not aware of the lack of a structure.
Company Response: Company believes complaint is the result of an isolated error
State: DE
Zip: 19709
Submitted Via: Web
Date Sent: 2023-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I paid off my loan two weeks ago. I was required to send 16 days of additional interest in order to pay off the loan. Select Portfolio put the over payment in an escrow account. So far I have been unable to get them to refund this over payment of {$840.00}. The staff is rude and say the process can take up to 60 days. No one can explain the process as - i.e. do they review these overages monthly, weekly, never? No interest is paid to me on this overpayment while it sits in an escrow account that I never had during the actual loan. I am a senior citizen and having someone owe me almost a {$1000.00} is a hardship. Can someone explain why it would take 60 days to refund my money?
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 48329
Submitted Via: Web
Date Sent: 2023-03-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-14
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I believe I may be entitled to be eligible to receive a Settlement from Wells Fargo due to a Following Reasons : I was the recipient of a subprime loan with XXXX XXXXXXXX in XXXX just before the demise of XXXX. This loan is adjustable and the interest rate changes every month. I have been paying monthly on this loan to XXXX XXXX as the Mortgage Servicer since XXXX XXXXXXXX Failed in XXXX until XXXX, XXXX. XXXX XXXX XXXX went to court in XXXX supposedly to prove they was the Owner of my mortgage although there was no Assignment of Mortgage to XXXX XXXX from XXXX XXXXXXXX or Deed of Trust recorded in the County Land Office to prove ownership.. In XX/XX/XXXX, XXXX years later, a Reacted Deed was recorded in the county land office by XXXX XXXX. There was no Assignment of Mortgage to XXXX XXXX XXXX recorded until XX/XX/XXXX. These Recording were the result of a court case on XX/XX/XXXX where the Judge allowed XXXX XXXX to make up all the paper work needed to prove it was the owner and to record it in the County Land Office. In XXXX, XXXX, I was notified by XXXX XXXX that my mortgage would be assigned to XXXX XXXX XXXX XXXX XXXX XXXX XXXX the following month. Upon Inquiry to XXXX asking who was the Noteholder 's identity ( Owner ) of my Mortgage since I always understood that XXXX XXXX XXXX and XXXX were both Mortgage Servicer. I received a letter from XXXX stating that Wells Fargo Bank, N. A. as Trustee for XXXX XXXX Pass-Through Certificates, Series XXXX is the owner of the account and XXXX is the Mortgage Servicer and was responsible for enforcing the Deed of Trust and Adjustable Rate Note on behalf of the Noteholder. ( see upload of copy ) Looking back From the time I was notified around XXXX that I would be sending my payments to XXXX XXXX XXXX until XX/XX/XXXX, I was not allowed to refinance this subprime mortgage that has an adjustable rate that change monthly. For the past 17 years although I had made payments on time and was never late, I had tried to modify this loan or refinance and called many times to inquire and was basically passed around and around until I usually heard a dial tone but no answers. I believe this was due to the fact that XXXX XXXX knew that a Refinance would be a problem because they were not the Owner since they knew none of the paper work was in place at the County Land Office doing those nearly 20 years they serviced my mortgage. Now that I have this letter stating that Wells Fargo is the owner, I would like to look into the Settlement that I might be eligible for.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 20774
Submitted Via: Web
Date Sent: 2023-04-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A