Date Received: 2023-09-01
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: I am now a senior citizen who has never had issues with multiple properties and mortgages being paid on time and serviced properly. This whole issue began when XXXX XXXX sold/ transferred my mortgage to SPS Servicing in XX/XX/XXXX. Current Status : SPS via an intermediary named XXXX XXXX, has sent notice of my mortgage being in Pre-Foreclosure. Action : This process must be halted by SPS, so they and I can resolve issues I first reported on XX/XX/XXXX and am continuing to report today. SPS responded to my initial complaint on XX/XX/XXXX. They addressed one issue out of four reported - correcting a ~10 month delay in moving escrow funds into current payment which was promised in XX/XX/XXXX. Other issues inadequately addressed are : 1. YTD interest removal for my lost opportunity to pay off the loan requested in XXXX. 2. Removal of late fees over {$2000.00} accrued by the previous mortgage holder 3. Poor to no viable communication with a customer service Since then, these have been new issues I've encountered : 1. As of XX/XX/XXXX SPS.s online site stopped accepting my monthly payments unless I paid the challenged late fees, and other unclear fees. 2. SPS then sent threaten to foreclosure letters on XX/XX/XXXX and XX/XX/XXXX. The first was within 15 days of their finally correcting {$24000.00} misplaced payment issue. 3. As of XX/XX/XXXX, SPS started removing access to most of my account info on their online portal. I could not make payments, see my dashboard, communicate. 4. At the same time, SPS received and returned 1-2 monthly payments I made through my personal banking billpay system, citing insufficient funds to cover fees due. 5. In XX/XX/XXXX, SPS mailed a bogus letter claiming I requested they remove my customer support contact and service. I made no such request. This effectively cut me off from any communication to resolve the above issues. 6. Early in XXXX, through an intermediary named XXXX XXXX out of XXXX XXXX, SPS started sending legal notices of pending foreclosure actions. 7. On XX/XX/XXXX, SPS sent a letter stating they are ready to help resolve issues. They only provided a generic number, without a named customer service person as had been their standard operating procedure until XX/XX/XXXX. 8. In XX/XX/XXXX, SPS via XXXX XXXX, sent legal notice of a my account being assigned for Foreclosure, naming XXXX as the foreclosure processor. 9. Also in XX/XX/XXXX, SPS raised my current monthly interest rate from 4.375 % to 6.375 % without any prior written notice of that rise. 10. In early XX/XX/XXXX, XXXX XXXX sent legal notice of a projected sale date of XX/XX/XXXX. In that correspondence, they offered a bogus {$950000.00} new loan that is almost 75 % larger than my current outstanding debt. 11. in late XX/XX/XXXX, XXXX XXXX sent another legal notice of a projected sale date of XX/XX/XXXX. Again offering the {$950000.00} new loan which is tantamount to blackmail.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94025
Submitted Via: Web
Date Sent: 2023-09-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-31
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: To : Ombudsman We are deeply disturbed and devastated to find out that SPS has withdrawn our assistance application. I was under the impression that you were working on a new plan that would be affordable to me I need answers to the following questions : Why was our assistance application withdrawn? Who set up the repayment plan? What income and expenses did you use to structure the repayment plan. Why is the payment so high? What details did you use to design such a bad plan. Why did you not use my new income and expense information? Why did you ignore my hardship letter? Why did you ask what payment I could afford, then take away the amount I gave you. How do you expect me to accept a repayment plan when it was based on wrong information? These concerns need to be addressed and need your immediate attention. Please reconsider and take a hard look at my income and expense report, I feel that your proposed repayment plan was designed using wrong information such as income and expenses. HARDSHIP LETTER To whom it may concern : I simply can not afford your repayment plan ; the payment is too high compared to my income and I dont know who set up such a plan that knew darn well that I could not be able to meet this obligation. My income will not cover the payment and what you are doing is setting me up for foreclosure and instead of helping me, youre hurting me financially and with my serious XXXX XXXX, you want to take our home. This is an urgent message, due to a XXXX XXXX I am unable to make my past due payment until XX/XX/XXXX, please accept this payment arrangement because I XXXX XXXX XXXX XXXX I am very concerned about my past due mortgage payments one of the reasons I am late is because. I suffered a XXXX XXXX XXXX. The XXXX was very serious which caused me to now have XXXX XXXX XXXX. Due to the seriousness of his XXXX XXXX, I am facing financial hardship. Another serious reason for asking for assistance is due to my wifes health condition, she had a XXXX XXXXXXXX, XXXX XXXX XXXX, this has caused a heavy burden on me and trying to balance our lives. I have been communicating with SPS daily to explain why I became late on my mortgage payments. I told them that XXXX XXXX XXXX XXXX XXXXXXXX and with a loss of job and valuable income ; my earning power for the mortgage payment has been reduced. To improve my standing with SPS and place a positive note on this, I will listen to everything that is placed on the table but one item that needs to be discussed thoroughly, its my monthly payment, its too high and I simply can not afford that kind of payment. I am very concerned who designed the re payment plan, it is totally based on wrong, and income and expense information and I can not accept wrong information. From a doctors point of view, Regarding XXXX XXXX XXXX XXXX, it is very serious ; the family doctor diagnosed him of having XXXX XXXX XXXXXXXX and an XXXX problem. To offset this, XXXX XXXX has a XXXX and XXXX XXXX XXXX XXXX XXXX The doctors greatest concern is that his recovery from a XXXX XXXX XXXXXXXX has been very slow, and stills suffers from cXXXX XXXX XXXX which is monitored weekly by a monitor which transmits to the XXXX daily his XXXXXXXX XXXX XXXX and pictures. XXXX XXXX is XXXX XXXX XXXX XXXX XXXX XXXX throughout his system, and this is why its important to keep monitoring his daily activities. Meanwhile, due to the XXXX XXXXXXXX and XXXX XXXX and slow recovery, XXXX XXXX lost the job he had for twelve years ; his income dropped considerably which caused him to become late in making his mortgage payments. The doctor states in his assessment that XXXX XXXX is unable to perform activities as before because of XXXX XXXX XXXX slow recovery from XXXX XXXX and XXXX XXXX XXXX XXXX In discussing his XXXX problem my family doctor states, XXXX XXXX has XXXX XXXX, he underwent XXXX XXXX on XX/XX/2016, the doctors removed his XXXX He sees a XXXX XXXX every three months to see if the XXXX has reappeared. In summary, my wife and myself are under serious health and financial hardship, this is why we are asking for some assistance, we want to keep our property, no sale of any kind., I apologize for the inconvenience this may have caused, but I do recognize the problem, and furthermore, I know that my attention has been on my health issues instead of his finances, which I wants to change. XXXX XXXX XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MI
Zip: 493XX
Submitted Via: Web
Date Sent: 2023-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-31
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I have requested the escrow to be removed and it was approved after a couple of tries during the XXXX. I was told the check was mailed on XX/XX/XXXX, but I have not received it as of date. I have contacted them on a weekly basis since then and asked them to research and get the check to me ASAP as my school taxes are due and need this money ( ~ {$2600.00} ) to pay it. SPS keeps dilly dallying and are not able to provide the proof of disbursed check nor are willing to electronically transfer the funds, or apply to the outstanding balance. It is close to 60 days now and they keep saying XXXX more business days every time I call.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: PA
Zip: 18940
Submitted Via: Web
Date Sent: 2023-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-30
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: This complaint relates to Select Portfolio Servicing Inc ( SPS ) lying to me and to CFPB in their response to CFPB. In my complaint # XXXX to CFPB, I mentioned that SPS made an unauthorized withdrawal from my escrow account to pay insurance when my insurance was already fully paid until XX/XX/2024. In their response to CFPB, SPS said they did the right thing in paying for the insurance due to their receipt of a Declaration from the Insurance company. They attached that Declaration with their response to CFPB, which I am reattaching here. This payment was unauthorized and illegal for 2 reasons : 1. I never asked SPS to pay for the insurance because it was already fully paid until XX/XX/2024. 2. The Declaration, that SPS attached as an excuse for their wrongdoing, clearly says " This is not a an Invoice/Bill. ( See Page 3 of Attachment, which is the same that SPS provided to CFPB in Complaint Number XXXX ). So why did SPS take my money from my escrow account to pay insurance when there was no bill and claim they did the right thing? They lied point blank even in their correspondence to CFPB, an organization that has teeth. Imagine how they have bullied and lied to me. 3. This illustrates how SPS has been providing me with extremely poor customer service. Their representatives have been giving me contradictory answers due to the lack of training they received. I feel bad for the front line reps who have to deal with frustrated consumers like myself when it is not their fault. It is SPS ' bizarre internal processes that give bad image to their staff and cause monetary damage to consumers. 4. By law, SPS had 30 days to put the escrow balance in my hand. They did not send out the real money until XX/XX/XXXX, almost two months after they closed my escrow account. Their saying they mailed the first check out on XX/XX/XXXX was a lie. Others customers complained on CFPB website and to XXXX about same issue. They never truly sent out the first check to buy another 30 days with money in their pocket so they can make money with it. 5. I want an apology from SPS and payment of {$300.00} to me for the 5 hours I spent on the phone chasing down the unauthorized insurance payment SPS and the extra days they kept my escrow balance refund If a consumer mortgage payment is late, SPS charges late fee. They were late in refunding my escrow and they wasted my time through their unauthorized payment. They should compensate me. Fair is fair.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 98144
Submitted Via: Web
Date Sent: 2023-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-30
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: My monthly payment increased from {$310.00} to {$320.00} ( I'm not able to pay unnecessary increases in mortgage payment ) due to my fixed income, Social Security. My original agreement with XXXX XXXX they would refund my overpayment at the end of the year, but, Select Portfolio Services inc. keeps the overpayment. I have spoken to them by phone twice and they said they would reduce my mortgage if I pay them {$100.00} On Thursday XX/XX/2023, I spoke to XXXX and I paid {$50.00} of the {$100.00} which he said I owed {$56.00} left then my new payment would be {$310.00}. XX/XX/2023 XXXX I paid XXXX XXXX the phone {$58.00} at which time XXXX said my new mortgage starting in XXXX would be XXXX confirmation # XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AZ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-30
Issue: Struggling to pay mortgage
Subissue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-li
Consumer Complaint: Our family is facing foreclosure because we went through financial hardship due to XXXX. Our mortgage company Select Portfolio Servicing helped us at first, but now has turned their back on us and is refusing to give us options to resolve the missed payments from XXXX. They are demanding we pay them back in full and are starting the foreclosure process. Our loan is backed by Fannie Mae and this qualified us for help through CARES act. When our state shut down we reached out to XXXX XXXX who was our servicer at the time and they offered the first forbearance for six months and the missed payments were resolved through modification. We resumed making our regular payments for several months but were still in trouble as my husband 's business was slow to come back and the cost of living and inflation hurt us. We applied for and were approved for a second forbearance with SPS as we were still negatively impacted by XXXX and were approved. However, when we asked for an extension ( forbearance term to be 3,6,9,12 or 18 months depending upon hardship per CARES guidelines ) we were given the runaround and told we need to apply for a loan modification. As I understand it, XXXX servicers who offer CARES act forbearance are required to offer solutions to resolve the delinquent payments outside of full reinstatement like loan modifications, deferments, recapitalization or as a last resort a repayment plan. That is not what happened with our loan and SPS servicing. SPS dragged out the process for six months and we feel they conducted a shoddy review and did not properly calculate income or review the requested documents and issued a denial and has started the foreclosure process. Our hardship is resolved, my husband and I are both back working full time and we are able to make our regular payment, the issue is the past due payments that are continuing to accrue. We have made repeated efforts to work things out with SPS and even wired a lump sum to pay towards our arrearages recently which SPS rejected. We bought our home nearly 30 years ago and refinanced with XXXX in XXXX. We never had problems with the mortgage payment until the pandemic led to business shutdown in our area. SPS approved us for the second forbearance due to XXXX impacting our finances and at the end of the six month period we were still struggling and asked for an extension but SPS said at that point that they needed to review our financial information to provide any additional help. We began the process of submitting documents over and over to SPS in XX/XX/XXXX. We were given conflicting answers by SPS agents as to what paperwork was received and what paperwork was missing. I submitted all of the paperwork 3-4 times and it became apparent to us that SPS was purposely delaying the review. We submitted a profit and loss based on the information SPS provided but were told that it was not sufficient. We had been told during this review process to NOT make mortgage payments, although we continued to make the escrow payments so we could remain in good standing. In XXXX we were told that we were denied for all options because of insufficient income and that you would no longer accept single mortgage payments and that we needed to reinstate the full past due amount. We have tried repeatedly to resolve this matter with SPS and were told the only option was reinstatement of the delinquent amount which is currently about $ XXXX. I contacted my XXXX to withdraw money to try and settle up but was told the most I could get out at XXXX time was {$8700.00}. I called SPS and spoke with a customer service agent and told them I could make a payment towards the delinquency to show good faith and the agent told me that was fine, to go ahead and wire the money to SPS. After I wired the money I was notified that SPS had rejected the wire.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-27
Issue: Struggling to pay mortgage
Subissue: Foreclosure
Consumer Complaint: XX/XX/XXXX To Whom It May Concern : I am writing to appeal against the decision made regarding my loss mitigation assistance application for the above-mentioned account with Select Portfolio Servicing , Inc . Select Portfolio Servicing received my acknowledgement letter on XXXXXXXX XXXX XXXX, and I have carefully reviewed the reasons for non-approval. There are factors that were not adequately considered during the evaluation. I have been approved for financial assistance through the Homeowner Assistance Fund ( HAF ) program, which provides me with {$50000.00} to be allocated towards foreclosure prevention and mortgage assistance. This significant amount of funding demonstrates my commitment to resolving the delinquency on my account and finding a sustainable solution. Additionally, I have {$9300.00} currently held in escrow that can be utilized to bring the account up to date. That is a total of {$59000.00} that can be applied to what is owed, which demonstrates my willingness to contribute financially and work towards a resolution that benefits both parties involved. I also visited your website and found information stating that SPS institution offers help and support specifically for veterans. They also state that they are committed to home retention and offer many assistance options designed for customers who are experiencing temporary or permanent hardship. I am now in a position to pay my mortgage. I was encouraged by this statement and believed that my wife status as a veteran and XXXX-in the United States XXXX can provide an opportunity for additional consideration or tailored assistance. My wife, XXXX ( XXXX XXXX XXXX ), is a dedicated veteran and solider of 22 years of the United States XXXX, having served XXXX XXXX deployments during her tenure. Given my wife 's military service, I believe I may qualify for these protections. However, I would appreciate it if you could provide me with more detailed information about the specific programs or initiatives you have in place to assist veterans. This would enable me to make informed decisions and take advantage of any benefits or support that may be available to us. I kindly request a reconsideration of my application for the loss mitigation options that were previously denied. It is my sincere hope that you will consider the funds available through the HAF program, the escrow amount, and the commitment I have demonstrated towards resolving the delinquency. I understand the importance of the net present value ( NPV ) calculation in determining the financial viability of modification options. However, I believe that the NPV results may not fully reflect my ability to meet modified payment terms or the potential benefits of a modified loan structure. A fair resolution is for Select Portfolio Servicing, Inc. to reconsider my application for loss mitigation assistance and reinstate my mortgage. This will allow me to keep my home. I appreciate your time and attention to this matter. I look forward to a fair and compassionate review of my appeal. If necessary, I am available to provide any additional documentation or information to support my case. Thank you for your understanding and consideration.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30157
Submitted Via: Web
Date Sent: 2023-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-28
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: My hardship begin XX/XX/2023 Select Portfolio increased my mortgage payments from {$1300.00}. Per month to {$2300.00}. Per month with no notice. I was told that this {$1000.00} escrow increase requested by the Investors wasnt predatory lending but actually was within the law to bill me for 2 years escrow instead of each year. My escrow is based on my yearly property taxes and property insurance so how can they do that. I cant find this clause in my settlement documents. So I requested a copy of documents to support the increase. Select Portfolio representative said they were going to send me the information and I never received it. They didnt offer me any assistance. Please help me keep my mortgage payments affordable I cant afford a {$2300.00}. Mortgage payment.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 21207
Submitted Via: Web
Date Sent: 2023-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: I sold my home in XX/XX/2023. XXXX XXXX XXXX notified SPS Loan Servicing that the property would be sold, and a payoff quote was required. SPS requested a payoff of {$210000.00}, which included an overpayment of approximately {$2300.00} related to the escrow account. The first issue is SPS failed to reconcile my escrow account before the sale and overcharged by roughly {$2300.00}. After the closing, I contacted SPS to request an escrow reconciliation, which they provided dated XX/XX/2023, and mailed to XXXX XXXX XXXX, XXXX, XXXX XXXX, and I received via USPS. Since the property sale, I have continuously called SPS to get my escrow account refund. Each time I called, I was informed that a check had been mailed, and they would proceed with re-issuing a new check and a stop payment on the old check. Note that the USPS had been notified to forward all my mail to my new mailing address, and no check was ever received. On XX/XX/2023, an account representative informed me that the check had been cashed on XX/XX/2023, and no new check would be reissued. I have two issues : ( 1 ) I had called several times before XX/XX/2023, and this is the first time I've heard of an issue, and ( 2 ) I never received or cashed this check. During this call, I requested a copy of the cashed check to move forward and file a fraud complaint, and I have yet to receive it via USPS. On XX/XX/2023, I called SPS, letting them know I had not received any correspondence regarding my request for a copy of the cash check. I was told it would be re-requested to be mailed out again, AND I am assuming to be mailed out again means via USPS, not paperless on their platform, which I can not access anymore. On XX/XX/XXXX and XXXXXXXX XXXX I received two emails to review my SPS account for new correspondence. On XX/XX/2023, I tried logging in several times and seemed locked out of the account. This was not the case on XX/XX/2023 ; I logged into their platform successfully to see if any requested information was placed there without any issues. On XX/XX/XXXX, I called SPS twice to have a representative help me reset my account password to access their platform to review my documents. I was informed that I no longer have access to their platform since my loan has been paid off ; however, they're sending paperless communication through that platform and not using USPS. For the last six months, I have been trying to get back my overpayment of approximately {$2.00} from SPS Loan Servicing. Had SPS reconciled my escrow account before the sale of my house, this would not have been an issue. I don't understand how a loan processing center doesn't have accurate financial records, as I know they're subject to regulatory audits. I, XXXX XXXX, swear that I have not received a check from SPS related to this issue, nor have I cashed this check. I have been jumping through hoops with them, and I need this resolved as I need my refund. Below is my name, account number and property address. XXXX XXXX Account Number : XXXX Property Address : XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX, FL XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 763XX
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-25
Issue: Struggling to pay mortgage
Subissue: Foreclosure
Consumer Complaint: We have been trying to resolve this with trying to sell the property as they offer us a repayment plan that is not affordable to us of {$10000.00}. The investor wanted us to be reviewed for a retention option and with our income we can not afford the payment they were proposing. A BPO was completed and the value came back at {$540000.00} which the buyer was willing to amend the contract for the appraised value. We were then informed that the investor wants a full payoff which is over a {$1.00} XXXX. The property is not worth a XXXX and unfortunately the purchaser is not willing to purchase a property that is not worth the payoff.. Our realtor submitted for exception with the SPS and it was still denied. We just want this to be over and done with. They also placed an auction as we were going through the process. All the documents were submitted prior to them placing the auction.We just want to move on from this and not lose our home to foreclosure
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 11590
Submitted Via: Web
Date Sent: 2023-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A