Date Received: 2024-01-31
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: My home loan ( Loan number XXXX ) with Select Portfolio Servicing , Inc., was paid off in full in XXXX, XXXX. The address is XXXX XXXX XXXX XXXX, XXXX, TX. I received a Release Lien on XX/XX/XXXX that was filed in the incorrect county. The lien was filed in XXXX XXXX ( which I had never even heard of ) and not in XXXX XXXX as it should have been. I did not notice this until I went through a nearly XXXX-month process attempting to acquire a home equity line of credit when my proposed lender finally informed me to look at my Release of Lien and note that it was not filed in XXXX XXXX . I need to have the original release of lien filed in the correct county of XXXX immediately and a new lien ( backdated with original paid-off date ) mailed to me. First, I called the XXXX XXXX clerk and was told that I needed to contact my lender. When I attempted to call Select Portfolio Servicing, Inc., they were unable to connect me to someone who could help because they did not show my loan number. Select Portfolio Servicing was the third lender for the house at XXXX XXXX XXXX XXXX. The first was with XXXX XXXX, which sold the loan to XXXX XXXX XXXX. XXXX XXXX XXXX sold to XXXX. Finally XXXX sold to Select Portfolio Servicing. Thank you very much for your assistance. XXXX XXXX XXXX XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77082
Submitted Via: Web
Date Sent: 2024-01-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-30
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: I was scammed during Covid shut downs ... .I was current they offered forbearance and promised on tape when jobs were reinstated they would redo loan and start from there. They kept asking for the same pay stubs and info over and over until they forEclosed behind my back THIS WAS A ONCE IN A LIFETIME PANDEMIC AND GOVERNMENT HAS NO PLAN TO HELP KEEP OUR HOME WE HAVE BEEN IN FOR 20 YEARS. ALLOWING THESE XXXX STEAL PEOPLES LIFE TIME OF WORK AND SWEAT SPS IS A UNDERHANDED COMPANY AND I NEED HELP I QUALIFIED FOR OHIO SAVE THE DREAM BUT THEY BOTH JUST DRAG FEET SO THE AMOUNT IS CRAZY NOW I NEED THE COMPANY TO TAKE THE BALANCE OF THE AMOUNT DUE MINUS THE XXXX XXXX AND TIE THE BALANCE INTO THE LOAN ITS A WIN FOR EVERYONE PLEASE HELP
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OH
Zip: 444XX
Submitted Via: Web
Date Sent: 2024-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-30
Issue: Struggling to pay mortgage
Subissue: An existing modification, forbearance plan, short sale, or other loss mitigation reli
Consumer Complaint: Approximately XXXX XXXX, I was behind on payments and Select offered ( no solicited ) me a loan modification. I had to pay a certain amount for XXXX, XXXX, XXXX of XXXX. I made the payment but slightly early because I didnt want any mishaps. So I started making the payments in XX/XX/XXXX for XXXX, XX/XX/XXXX for XXXX and in XX/XX/XXXX for XXXX. Since, I made the payments slightly early I suppose they sent out the contract early. I did not see the contract until I was trying to make a payment for XX/XX/XXXX. Because, starting late XX/XX/XXXX, I learned that I needed a medical intervention and therefore had multiple medical appointments between XXXX and XX/XX/XXXX. I submitted the signed contract albeit late and explained that I missed the deadline for medical reasons. They gave no consideration that I had made all the payments early. In fact, had they only been on time, the due date would likely have been late XXXX XXXX. Then, because they refused the to honor the previous contract, I requested another modification/deferral, they approved it, only to withdraw siting the previous offer and exacerbating my financial problems. Due diligence is what should be done before and offer, I believe that the withdrawal was unfair and made things worse. Unfortunately, XX/XX/XXXX, I tested positive for XXXX and also had a reoccurrence about XXXX days after testing XXXX so for nearly XXXX weeks I was ill with XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 903XX
Submitted Via: Web
Date Sent: 2024-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-29
Issue: Trouble during payment process
Subissue: Payment process
Consumer Complaint: I have made quite a few phone calls to this company in regards to the unapplied account - an account used to hold money. They claim that full payment must be made- {$670.00} per month is the normal mortgage payment by the due date of the XXXX of each month. Since I filed last file XX/XX/23 and that was closed it seems that they never right sided the account. Payments of {$680.00} go to them and are recorded on the XXXX of every month if not before, followed by weekly payments of {$50.00} that, like all monies in excess, are to go to the principle of the mortgage. The paperwork for the money paid from my bank and statements will be included.
Company Response: Company believes complaint is the result of an isolated error
State: OH
Zip: 436XX
Submitted Via: Web
Date Sent: 2024-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-30
Issue: Struggling to pay mortgage
Subissue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-li
Consumer Complaint: My family and I are in desperate need of assistance from the CFPB with the impossible situation we have with our loan servicer, Select Portfolio Servicing ( SPS ). We reside in XXXX, Florida, which was ground zero for Hurricane Ian in XX/XX/XXXX ; nearly a category 5 storm. As fully documented in the press, the damage to our area was very significant, and our home was no exception. Specifically, our home suffered over {$500000.00} in actual damages, including extensive roof damage, water leakage throughout the inside of the home, and black mold infestation. Following this devastating storm, we lost all power for over two weeks and had no running water or air conditioning. While we have a public adjuster working on our insurance claims, given the extensive damage and volume of claims, it may be months or years before we receive any insurance money to complete the needed repairs if ever. Apparently, a number of insurance companies in Florida have been closed by the State due to insufficient reserves. Prior to this unfortunate set of events completely out of our control, we paid our mortgage on time to our servicer, SPS every month via Auto pay. In fact, from the inception of our loan, we never missed any payments and always paid on time or in advance. My wife and I work in the real estate industry, and when Hurricane Ian devastated our area, all our real estate transactions came to a standstill. Quite simply, nobody wanted to purchase hurricane damaged homes, and sellers did not list their homes because they wouldnt receive fair market value without first repairing the damage. As such, we had no income for months after the storm, and were unable to make any mortgage payments. On XX/XX/XXXX, the Governor of Florida issued Executive Order XXXX renewing the Hurricane Ian State of Emergency , a state of emergency originally declared on XX/XX/XXXX, for an additional 60 days. In view of the foregoing, we requested reasonable assistance from SPS to either provide a reasonable forbearance period, defer any missed payments to the end of the loan, and send us a new payment amount that would allow us to catch up over a reasonable time period. We actually applied for assistance from SPS through their online in XX/XX/XXXX. From that point forward, SPS requested additional information fourteen ( 14 ) different times as per our conversation log with our servicer. At least half of the requests were asking for the same information already sent, which suggests that SPS either lost the information initially sent, or one hand doesnt know what the other is doing internally at SPS . On at least 3 occasions, SPS sent a specialist to our home to prepare a broker price opinion and valuation. It was not until XX/XX/XXXX, months after we initiated this process, that SPS finally sent us a letter stating they rejected our request for any modification or forbearance of our loan, and demanded that we pay the past due balance of {$83000.00} by no later than XX/XX/XXXX or SPS would initiate a foreclosure process. See attached letter. We communicated with SPS through our attorneys office, and confirmed that SPS and the investor on this loan refused to even review our modification application. It is clear from these facts that our servicer did not review our loan modification application in good faith or with genuine intent to review our file for loss mitigation. It is clear that our family suffered real and significant hardship which justifies, at a minimum, a good faith loss mitigation review. Our servicer clear refusal to afford us that request is a clear and direct violation of CFPB guidelines. All we request is a meaningful and good faith review of our loss mitigation application, rather than a blanket denial without review. If SPS is unwilling to provide our family a simple good faith loss mitigation review, we request appropriate penalties and sanctions be imposed by the CFPB that prevents SPS and other similarly situated servicers from engaging in bad faith loss mitigation practices in order to deprive homeowners of their right to retain their home. Please initiate a formal complaint against our servicer for these acts, and kindly open an investigation to determine if SPS is engaging in systematic deprivation of rights to homeowners like ourselves who have suffered genuine and significant hardships in connection with their home loans. We applied again with SPS and provided all documents they requested except the taxes. We didn't file XXXX taxes yet and we have until XX/XX/XXXX of XXXX as per IRS special extension due to the hurricanes we kept getting as per FEMA rules. SPS requested the taxes or the tax extension that we filed, we cant file an extension since FEMA & IRS already gave an extension to all residents in XXXX XXXX. Because of this they denied my application to modify my loan and put the existing debt onto the back of the loan. They refuse to give me a new payment amount. We have applied 2 times for a Loan modification, where they put the missing payments onto the back of the loan and/or extend the loan to make sure we cover the debt long term. They refuse to modify the loan and keep giving us the run around. They are being unfair. All we want is a new payment amount so we can start the payments again.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 342XX
Submitted Via: Web
Date Sent: 2024-01-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-29
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: I am behind months in payments, this is accurate and I called to pay in full, they refuse they want it wired which I have no time for this. If they took my pay by check it be paid by now! I also had an agreed upon modifications where we pay XXXX for so many months and towards end it goes up to only XXXX tops! They suddenly started charge me an added XXXX a month that is half my whole mortgage payment. When I said we have a modification they told me read small print they can change the agreement at any time! I never heard of such disgusting works! Then when I asked why is our mortgage up by half it's full payment, they said due to lack of equity at the end of the year. So they sent me an equity statement which shows it lacks maybe by barely XXXX for the full year! That is hardly justification for an added XXXX external month! I'm at a loss I feel like they're bullying us! Someone had to stop these people and their wrongful deeds. If you even take XXXX times it by 12 months that is an added XXXX!!!!! My yearly taxes are only XXXX, and they cover only flood ins of about XXXX that is a total of XXXX that isn't XXXX, now mind you that is only adding the added XXXX extra a month they're charging me, it isn't including the already XXXX hundredish payment they take from my mortgage payment from since the beginning. So they're making a huge huge killing. Now that due to COVID we fell behind and as from all I figured you take XXXX which honestly SHOULD be my monthly payment and count months I owe I should only owe XXXX plus an added XXXX for the month of XXXX payment then I'd owe XXXX total, but they want a full XXXX grand! They're counting that XXXX extra a month, and I offered even to pay the XXXX they said they'd settle with for now to stop the process, which I'm telling you they're robbing us! Still I offered to pay it just to keep our home, and they won't even take that unless we wire it. My wife is XXXX, I work to pay these bills, and have no time for childish games! They had taken the payment via my check days ago when I tried to pay online they'd have the money right now, I mean semantics and it's hardly worth throwing my XXXX wife and grandchildren, family to the streets over a lousy refusal to take a dang check! I mean really, which btw I'm paying their robbery of XXXX which adds up to XXXX extra despite knowing it's not accurate. Please, I beg of you handle this bc I read and seen your past responses and how you simply just accept their excuses and lies. I hope this time, especially bc this is serious it's our home we lived fought n paid for on over 26 years! Please that added XXXX is truly wrong. Have you ever seen any bank up anyone 's mortgage by half it's whole monthly amount over equity lack? I beg you to help us right away. For now, I am looking in to finding also an attorney to handle this as well. Thank you
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 480XX
Submitted Via: Web
Date Sent: 2024-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-27
Issue: Struggling to pay mortgage
Subissue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-li
Consumer Complaint: I have been asking for help since XX/XX/XXXX from my lender. asked for forbearance and was told I didn't qualify for any programs for assistance although I still sent applications for assistance. now it's XX/XX/XXXX and they still will not help me. preparing legal papers for foreclosure now. I also applied for help from HAF AZHousing and was told my application was rejected or not completed when I saw my application on my account. they are out of funds now everywhere I apply. This was in XX/XX/XXXX. I don't understand why I'm not able to get a deferment for 3 months. Select Portfolio Servicing refuses to help me still.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AZ
Zip: 85140
Submitted Via: Web
Date Sent: 2024-01-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-26
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: In response to your letter starting from XX/XX/XXXX through XXXX XXXX statements due date XX/XX/XXXX continued to show monthly escrow payment of {$280.00} total payment due {$890.00} That is correct and should NEVER have changed XX/XX/XXXX!!!? XX/XX/XXXX SPS increased the escrow amount by {$290.00} also increasing the monthly payment by more than {$260.00} on a policy that was already in effect for 3 months prior to XXXXXXXX XXXX XXXXmended the policy XX/XX/XXXX with the same effective dates XXXX decreasing the policy by {$1400.00}. My {$1400.00} escrow only check sent to sps XX/XX/XXXX was the refund from XXXX for the amended policy from {$3600.00} to {$2200.00} that was still effective XX/XX/XXXX. SPS cashed and posted on XX/XX/XXXX check # XXXX for {$1400.00} my XXXX refund and escrow only as a payment not back to escrow as noted. There for sps created a shortage Due to the misappropriation of the {$1400.00} escrow refund. SPS has acknowledged this misappropriation of the {$1400.00} escrow refund! I have proof from XXXX my insurance agent at the time ( included ) that SPS was notified and the amended policy was sent to SPS on XX/XX/XXXX followed by the {$1400.00} refund from XXXX in a check I sent XX/XX/XXXX to be applied to escrow which was cashed and posted instead as a payment on XX/XX/XXXX. The insurance and refund were processed all before my payment was due on XX/XX/XXXX. Which still had the escrow correct at {$280.00}. The payment due to SPS XX/XX/XXXX was not made, as I was in touch with Sps in XX/XX/XXXX about my escrow, I was told sps was going to re-run my analysis and give me a correct payment. As you can clearly see sps ran XXXX escrow analysis between XXXX XXXX. While the monthly statements showed {$280.00} was the escrow payment from XX/XX/XXXX through XX/XX/XXXX total payment due {$890.00} was CORRECT! XXXX and XXXX escrow jumped to {$540.00}, then started decreasing monthly beginning in XX/XX/XXXX to {$470.00} {$.00}, XXXX decreased again to {$350.00} where it remained until XXXX. Fluctuating drastically along with the total amount due. HOW DOES THAT HAPPEN? All of that going on while SPS is sending me escrow disbursement statements dated XX/XX/XXXX through XX/XX/XXXX. ( XXXX Analysis in 2 months XXXX and XXXX ) documenting monthly insurance payment as {$300.00} while charging me various escrow amounts upwards of {$540.00} on monthly statements. magically the insurance is updated on the XX/XX/XXXX escrow disbursement statement. The same month XXXX XXXX monthly statement showed an increase due to escrow and increased my payment over {$260.00}. EXPLAIN THAT! Nothing should have changed until XX/XX/XXXX. When the new premium was due. During this time, I am making monthly payments of {$960.00} overpaying every month {$70.00} which should have also covered the {$120.00} fee that keeps appearing on statements for whatever you charged me! XX/XX/XXXX through XXXX XXXX escrow decreased back to {$280.00}. The payment statements from XXXX XXXX XXXX are accurate and should have continued through XX/XX/XXXX. XXXX XX/XX/XXXX statements varied and drastically contradict the escrow disbursement statement from XX/XX/XXXX escrow. Moving into XXXX! The XXXX insurance policy is still in effect through XX/XX/XXXX. Monthly statements from XX/XX/XXXX through XXXX XXXX document escrow decreased from XXXX back to {$280.00}. Total payment due is back to {$890.00} The CORRECT amount give or take a couple of dollars. XXXX XXXX with XXXX XXXX effective XXXX premium {$2000.00}. XX/XX/XXXX What changed! Now the monthly statements show payments due 2 months out. XXXX due XXXX, XXXX due XXXX and so on. NOTHING HERE MAKES SENSE!! What was the reason for the change in XX/XX/XXXX? The insurance was effective XXXX XXXX XXXX and escrow should remain constant for the year!! In addition, this is a fixed rate loan and principle should be decreasing not increasing. Explain the monthly increase on principle as documented on statements. The statements do not match the escrow analysis or disbursement documents you have provided.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33428
Submitted Via: Web
Date Sent: 2024-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-25
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue: Application denials
Consumer Complaint: BELOW IS PARTS OF MY APPEAL LETTER TO SELECT PORTFOLIO SERVICING INC To Select Portfolio Servicing : I am writing to appeal the loan modification denial I received from your company on XX/XX/XXXX. I am appealing my denial for a loan modification on the basis of my income and my ability to afford monthly payments set forth by your company loan modification guidelines. My denial letter stated that a loan modification was not feasible, further stating that your company was unable to offer me this program, because you could not create an affordable payment within the programs guidelines. In letter dated, XX/XX/XXXX ( XXXX XXXX XXXX ) which states that my new monthly payment as of XX/XX/XXXX would be lower than my previous monthly payment amounts. In addition, my income ( XXXX XXXX XXXXXXXX and XXXX XXXX ) falls within the federal loan modification income guidelines, which states, to qualify for a loan modification under federal laws, the borrowers surplus income must total at least {$300.00} and must constitute at least 15 percent of his or her monthly income. When adding all my monthly expenses and deducting from the total amount of my income, I would qualify for your program. As stated above, I believe that my loan modification request should not have been denied on the basis of your company not being able to create an affordable payment within the programs income guidelines. As my income demonstrate after monthly expenses including a payment to your company ( for example in the amount of {$700.00} ) I would have a surplus in the amount of $ 450 monthly or a little over. ( Payment amounts in this paragraph are only used as an example ). I would also like to bring to your attention my experience with your company since XX/XX/XXXX. In the first denial letter your company sent me in this current case on XX/XX/XXXX just XXXX prior to your second denial letter dated XX/XX/XXXX for two completely different reasons. In the initial letter to myself from your company dated XX/XX/XXXX requesting the documentation to support my loan medicalization application I was given a date of XX/XX/XXXX to have my completed RAM application and all supporting documents turned in to your company. I was able to complete and gather the requested documents and upload them to your system by the due date with the understanding within 30 days I would have a response from your company regarding a decision. With the holidays only ( XXXX and XXXX XXXX ) days away I figured I would give SPS time to review my documents before calling. On XX/XX/XXXX I logged on to your system to find 2 letters uploaded to my account, one from XX/XX/XXXX stating my documents had been received, however, they had been rejected stating the documents I provided did not prove occupancy. Please note I submitted my most recent 2 bank statements dated XXXX and XX/XX/XXXX and also my most current gas and electric utility bill which the same letters state the documents I provided are acceptable documents for your company on XX/XX/XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WI
Zip: 53218
Submitted Via: Web
Date Sent: 2024-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-24
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: I am wanting to file a complaint on behalf of myself and my elder Uncle who is a XXXX XXXX XXXX person. SPS ( Select Portfolio Services ) has failed to appropriately assist myself and my relative with requested loan modifications, forbearance agreements and other assistance available to myself and my relative to resolve the mortgage issue. On more than one occasion, an SPS representative has given misinformation that has directly caused the loan on the mortgage to be compromised and on default. This is been going on since 2022. A funding source ( the HAF Program ) was available for myself and my relative to bring the account current. A representative from HAF reached out on several occasions to the mortgage company to pay the defaulted amount but we're unsuccessful. I then gave third party permission for the agency to contact the mortgage company to pay the {$25000.00} and they could not reach the appropriate dept to do this. Instead of resolving the account, SPS sent the account back to their attorney for further fees and legal action. Again, all this due to SPS and their representatives. Consistently SPS has failed to correctly accommodate the loan. This has caused the account to currently and unfairly be in a foreclosure status even after payments were made. This loan had been transferred several years ago and since that time has been nothing but a problem. When the loan transferred to SPS, it took months to make a payment because SPS didn't have information about the loan. I supplied them with as much information as I was able. There is misinformation consistently being given to myself and then when I call to follow up there are no notes in the account and I have to spend hours on the phone going over the same information and being transferred and placed on hold. During the COVID crisis, there were health concerns that affected Financial stability for many. Unfortunately we were affected as well. We were offered opportunities to bring the account current to resolve the account appropriately and to date those opportunities have been denied. To be a senior citizen who is XXXX and to have to rely on someone else to assist you because of the incompetence on the part of the agents at SPS is unfair. There have been over 500 complaints noted by the XXXX XXXX XXXX as it relates to this corporation. They are taking advantage of an elder XXXX person in an effort to inflate the prices and the value of his home. I have reached out several times and escalated the matter to the appropriate departments only to be told that there is a resolution in the works and then shortly thereafter that resolution is not available. They have inflated the escrow balance on the mortgage. They have inflated late fees on the mortgage. They do not return phone calls. They have a relationship manager that is to be assigned to the customer that has not been effective. In fact the relationship manager upon my speaking with her stated that we should sue SPS and she works for them! It is sad to think that people 's homes are being taken from them who have worked hard to maintain them and are doing what they can to manage them only to be told none of that matters. They are condescending in their delivery of information. I had a gentleman tell me I should " be able to read instead of believing what one of thetells me ''! This is unacceptable. Their practices at SPS are unprofessional and unfair!
Company Response: Company believes it acted appropriately as authorized by contract or law
State: OH
Zip: 454XX
Submitted Via: Web
Date Sent: 2024-01-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A