Date Received: 2022-08-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My loan was one of the loans mandated by CFPB in 2014 to be refinanced or modified by XXXX XXXX in the {$60.00} billion payout to the bank. In 2016, I received a notification from XXXX stating that I have been approved for a loan modification with principal reduction ( New principal {$350000.00} and 3.5 % interest rate ). I was told that the modification was subject to a third party ( Investor ) approval. The third party was XXXXXXXX XXXX XXXX. However, instead of going through with the modification, I was informed that the loan was being transferred to Select Portfolio Servicing XXXX XXXX ( SPS ). Initially, SPS informed me that they are going to give me exactly what XXXX had proposed to me. However, they never did. Instead they raised the principal balance to {$770000.00} and the interest rate at 6.8 %. They inflated the appraisal by 30 % within one month and engaged the same law firm as their foreclosure company, real estate company and appraisal company. They gave the new principal at {$770000.00} for a property that appraised for {$440000.00} and when I refused to accept their offer, they commenced a foreclosure proceedings. They are colluding with several people in order to take my home through foreclosure. They have two appraisals within one month from {$440000.00} and the second one {$590000.00}. They did not disclosed or copy me the appraisal. They attempted to lured me to do a short sale through their own real estate company and they already had a straw buyer. They are fixated on taking my property by all means necessary. My previous reference number with your agency was XXXX.
Company Response:
State: MI
Zip: 48322
Submitted Via: Web
Date Sent: 2022-08-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-16
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: XXXX verified on XX/XX/2022 they have fixed a credit reporting error causing a commercial mortgage loan to report to my personal credit bureau. XXXX confirmed the error and submitted corrections to the agencies. The error was finally fix in XX/XX/2022 until the mortgage was sold in XX/XX/2022 to Select Portfolio Services ( SPS ). Now SPS is reporting a commercial mortgage on my personal credit bureaus again. This is a commercial loan that XXXX agreed in loan documents, in emails, and credit dispute documents this is a reporting error.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 32940
Submitted Via: Web
Date Sent: 2022-08-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-13
Issue: Attempts to collect debt not owed
Subissue: Debt is not yours
Consumer Complaint: Mortgage and security fraud. Since 2008 I have been in a legal fight with XXXX XXXX XXXXXXXX XXXX XXXX Select Portfolio services and XXXX XXXX XXXX. This 3 entity 's and other known and unknown have tripled the note of my paid off property and negotiated then with XXXX XXXX XXXX XXXX... number trust. It has been impossible to get authorities to review the case.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PR
Zip: 009XX
Submitted Via: Web
Date Sent: 2022-08-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have 2 mortgages with Select Portfolio Services. I was on the Covid or Pandemic Forbearance plan on one of these mortgages due to loss of income for both myself and my tenant. I was originally with XXXX XXXX mortgage co, but Select Portfolio bought that company in XX/XX/XXXX. My forbearance ended XX/XX/XXXX. I received a package regarding a modification plan since my Forbearance was ending. I now have a modification plan in place eff XX/XX/XXXX, which placed the money owed to the back end of the mortgage. I am now trying to refinance my main residence and needed the Modification to show that it was indeed due to Covid, or Pandemic reasons. Select Portfolio told me 3x on the phone today, XX/XX/XXXX, that although they can see that it is actually a Covid Modification, due to my type of forbearance, they can not put it in writing but the mortgage company can call to verify. The mortgage company asked me to try one more time with a supervisor and see what they can do. I spoke with XXXX and she stated that Select Portfolio does not offer any Covid modification at all. That once the Covid program that I was in ended, the option that I had was a straight forward modification. I asked why, since my Covid forbearance ended XX/XX/XXXX and the modification started XX/XX/XXXX, you can clearly see that it is Covid related. She just answered, this company does not offer that to anyone. It is not an option with us. In order for my refinance to be approved, I need to show that this was Covid related, to prove that I just did not feel like paying my mortgage. I am trying to do the right thing and I am getting nowhere. When i asked if I can be placed under the hardship again under Covid or Pandemic rules, they said I could not because they are no longer allowing those type of forbearances. Unfortunately, due to Covid, i was forced to retire and my income has drastically changed. the money received from the refinancing would help my family out tremendously. Thank you for your time and consideration.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 10990
Submitted Via: Web
Date Sent: 2022-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Please be advised of our former complaint # XXXX submitted on XX/XX/XXXX. My husband I were in a XXXX XXXX from XXXX until dismissal until XXXX. While in the XXXX we continued to make our regular monthly payments and paid the trustee. After the dismissal in XXXX we continued to make our regular monthly payment. Select Portfolio Servicing ( SPS ) began requesting the deferred amount and we were offered a repayment plan in XXXX monthly mortgage was increased by {$500.00} more than my regular monthly payment, and there was a balloon payment at the end of the plan of approximately {$60000.00}. *I want to make note here, that during this time we also began to feel the affects of XXXX in our household and family beginning in XXXX of XXXX. * We were told by more than one SPS representatives, not worry about the balloon payment, because SPS would provide us another workout option. We were told to call back the 12 month of the last payment. However, my husband and I called back several times prior to the end of the plan to be reassured that SPS would have another plan. At the plan we called and we were told, SPS has no workout plan. There were no options for us. Due to XXXX, the present opportunities my husband had to make money was stopped suddenly. The type of work would be inside work, and the XXXX shut down caused him to loose out. Afterward his XXXX XXXX XXXX ( I do have proof ). My husband and I sought other ways to take care of the balloon payment. We connected with XXXX and began the process of refinancing the home. The appraisal was completed on the property, the title search was done. At this point the only thing saving our property from foreclosure was XXXX relief. And, it stopped. We made our XX/XX/XXXX payment and SPS held it and would not apply the payment. We were told by a SPS representative to submit the XX/XX/XXXX payment. We did, and SPS would not take the payment. Neither would they take XXXX - XXXX. The underwriters needed to see 12 monthly mortgage payments and we could not do so because SPS stop taking the payments. As a result, XXXX could not refinance the property. We were in a XXXX with SPS pulling all the strings. In XXXX, we were offer a XXXX forbearance, and SPS started taking the payments again. We were offered another XXXX forbearance plan. We have paid continually throughout each forbearance/repayment plan. SPS act as if they want the consumer to keep their home and not go into foreclosure, but that can't be true. I have appealed and appealed. I am no closer to knowing exactly who the investors are. We are working with the Homeowners Assistance Program ( 'HAF '' ) through the Department of Community Affairs , XXXX XXXX XXXX HAF is in the final stages of approval for a cap of {$50000.00} which they are likely to provide, and we would like to finalize a potential workout with SPS for the remaining arrearage of approximately {$22000.00}. The HUD approved counselor, along with me and my husband, have tried to reach out the OMBUDSMAN department concerning this matter. I have pleaded with SPS many many times to provide a workout option with me. On XX/XX/XXXX, I received a message from SPS stating, SPS is pleased to inform me that I have been approved for a work out a temporary repayment plan to assist in making payments against the lien on the property. I have uploaded the repayment agreement that has been offered to me. I really don't appreciate SPS treating me as a joke. They know the repayment plan ( which is attached ), is absolutely ridiculous. This not a company who is trying to help.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 302XX
Submitted Via: Web
Date Sent: 2022-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-11
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SPS has yet to answer my questions for over a year would not let me speak with the escrow dept or the legal dept regarding my complaint. The customer service and ombudsman have no authority to update or change anything. These people have NO CLUE!! SPS can not correct XXXX until XXXX is corrected. 1. We have raised the same questions due to the lack of clarity from SPS as to the reason for the months long delay in updating/crediting the insurance and tax information to reflect the corrected amounts in addition to the {$1400.00} escrow only payment. 2. SPS has yet to explain why my payment of {$890.00} changed between XXXX XXXX XX/XX/XXXX prior to the new policy effective XX/XX/XXXX. When the payments were made in advance. Then added additional funds for the same months?? 3. All insurance and tax information should have been updated immediately as the policy change took effect XXXX days after the effective date in XXXX, as well as the check applied in XXXX. All insurance and tax information and payments were sent within 24 hours of changes and it took Months to correctly apply resulting in what SPS is calling an ESCROW shortage in XX/XX/XXXX and applying monies wherever they want. My first payment was not due until XX/XX/XXXX more than enough time to correct the insurance tax and escrow for XXXX XXXX XXXX 4. The information and numbers all come from the initial SPS XX/XX/XXXX Escrow on table 3. Never updating the insurance and taxes or crediting the account SPS continued to run incorrect information on my Escrow analysis resulting in an increased and incorrect monthly payment from day 1. As reflected in their response and multiple escrow analysis. BASED ON SPS INCORRCT ESCROW NUMBERS THE DEFICIT OF {$2500.00} SHOUD BE A CREDIT OF {$230.00} ONCE INSURANCE AND TAXES WERE UPDATED AND PAYMENT OF {$1400.00} APPLIED TO ESCROW IN XXXX, A NEW ESROW ANNALYSIS SHOULD HAVE BEEN RUN TO REFLECT THE UPDATED INFORMATION AND NEW PAYMENT!! IT DID NOT HAPPEN! I WANT A NOTICE of ESCROW ERROR FILED FOR XXXX. 5. What is a bankruptcy payment and what was the amount? Why was it added to my XXXX and February XXXX monthly payment? SPS states XX/XX/XXXX they transferred {$1700.00} to satisfy both XXXX and XX/XX/XXXX. 6..ROLLING ALL OF THE INCORECT INFORAMTION FROM XXXX THE SAME THING HAPPENED IN XX/XX/XXXX WHEN I SAVED ANOTHER {$2700.00} ON HAZARD INSURANCE. XXXX. XXXX XXXX I MADE A XXXX XXXX OF {$960.00}, XXXX XXXX ANOTHER PAYMENT FOR {$2600.00}. WHERE DID MY MONEY GO????
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33428
Submitted Via: Web
Date Sent: 2022-08-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SPS Loan # XXXX My loan had been with XXXX XXXXXXXX XXXX for the past 15 years. It was recently transferred to Select Portfolio Servicing - SPS. I got the notice of the servicing release from Bank XXXX XXXX as well as the Notice of Servicing Transfer from SPS. The transfer was effective on XX/XX/2022 and I am due for the 8/1 mortgage payment. I have revied the fee schedule for making an online payment but have not been given a grace period nor an opportunity to set up automatic payments to avoid any such fee. I tried calling and they said that this is their standard fee.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 915XX
Submitted Via: Web
Date Sent: 2022-08-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I paid all but XXXX XXXX on my mortgage but sps has not applied the payment to the balance. I have called and spent hours on the phone and in the end of the conversation they say just call back in a couple of days.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 170XX
Submitted Via: Web
Date Sent: 2022-08-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-10
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XXXX XXXX XXXX SPS Loan number Property Address : XXXXXXXX XXXX XXXXXXXX XXXX XXXX, GA XXXX Dear sir : I have had an economic hardship due to XXXX, have been sick and I am a XXXXXXXX XXXX veteran. They told me to make monthly payments a I could. I tried to make payments directly in their website but was blocked. I also sent in a payment via bill pay and they returned it. I have requested assistance from SPS and sent the the required documents numerous times. They constantly call and ask for the same or different document each time. I have sent them the documents at least 7 or 8 times but they keep asking for the same thing. I've called numerous times to check on the assistance they were supposed to offer to no avail. We had talked about putting the delinquent payments at the end. What Happened? Lastly they said they were going to or had sent my account to a lawyer for foreclosure. My house is almost paid off, owing about {$70000.00} but it appraises at about {$300000.00}. They are trying to take my house because I have so much equity in it. Please help. I am in urgent need of help. Thank you.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-08-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-09
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I was affected by the pandemic like all Americans. I fell behind on my mortgage payments due to an illness wherein I had to take care of my wife and the increased expenses from the medicine and health aids that were necessary. I then fell behind on my mortgage. I had a modification in XXXX and phone calls placed to the servicer on XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX requesting the prior modification. While the documents were promised on all three phone calls, the documents have not been received as of the date of this complaint. On the XX/XX/XXXX phone discussion a forbearance plan was inquired about however I was told it was no longer available. I have been receiving collection calls the entire time by my servicer. On XX/XX/XXXX I contacted my servicer and explained that my church had helped us with {$700.00}. The servicer told me to send it in and I did XX/XX/XXXX. They accepted the payment. They then called with a repayment plan ( a 6 month term ) on XX/XX/XXXX. This was not affordable to me as we are both retired and live on a fixed income. I then speak to the servicer today ( XXXX ID XXXX ) XX/XX/XXXX and was told that I could pay {$1200.00} and stall the foreclosure. I then contacted everyone I could think of to raise the money. I also knew my next check does not come until XX/XX/XXXX so I called back to try to work something out. I was told by XXXX ID XXXX that the earlier information was not correct, that I had to reinstate in full. I asked if I could have the repayment offer again only over 12 months so I could afford it. No, I was told that because the loan had been referred to an attorney ( I have not been served ) that there is no way to get back on track without a reinstatement. I explained that it is not affordable and since the foreclosure had not been filed, can we please work something out before I get legal fees on top of what I am behind. XXXX advised that there was nothing that could be done and they would move forward with the foreclosure.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 33458
Submitted Via: Web
Date Sent: 2022-08-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A