ComplaintsforSelect Portfolio Servicing, Inc.

• Initial Complaint

  05/25/2024

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  On March 31, 2017, Nationstar Mortgage and I executed a Home Affordable Modification Agreement (Loan No.: *******) The Modification Effective Date was May 1, 2017. I complied with all terms and conditions of the Agreement. On January 26, 2018, the first HAMP Incentive of $1000 was applied to my mortgage principal On or about November 2018, my mortgage was transferred to Select Portfolio Servicing (SPS) On January 23, 2019, the second HAMP Incentive of $1000 was applied to my mortgage principal On January 22, 2020, the third HAMP Incentive of $1000 was applied to my mortgage principal On January 19, 2021, the fourth HAMP Incentive of $1000 was applied to my mortgage principal On January 30, 2022, the fifth HAMP Incentive of $1000 was applied to my mortgage principal When I did not receive the sixth and final incentive of $5000 in January 2023, I contacted SPS and was told I needed to sign a Dodd Frank Certification. This was signed and returned on March 2, 2023. From March through October 2023, I received numerous excuses when I asked about the status of my incentive. In about November 2023, I was told that HAMP incentives are received by the Federal Government and applied annually in January, and that I would see the $5000 reflected on my February 2024 statement. This did not happen. On May 22, 2024, the Ombudsman representative informed me that the incentive would not be applied to my mortgage principal. SPS was withholding the incentive due to a missed deadline, not of the mortgage payments, but in returning the Dodd Frank Certification. As this certification was not part of the Agreement, I demanded that the basis for this decision be supplied in writing. I was told nothing would be provided. When I asked to speak with a supervisor, I was told, no. To date, no one at SPS has responded to my phone calls or email. Supporting documentation for this complaint will be provided upon request.

• Initial Complaint

  05/21/2024

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  On May 10, 2024, my title company made the full payment of obligation number **********, money that was transferred in its entirety including the sum of $22.00 that this company charged me as a fine for early payment that I consider a collection. illegal. Having already received all of the money that was owed, on May 11, SPS debited my account for $3,248.31, in an abusive manner, since by that time no money was owed. I called and they told me that I was right and that in 20 business days they would return that money to me, which seems like a long time to me and I need the money to be returned to the same account that was debited immediately. Likewise, the fine collected of $22,000 was returned for the concept of fine for early payment of the obligation, which I consider totally illegal. It is important to note that I request that the money be returned directly to the Bank of America account from which they were debited, since the address I had is no longer mine and any check sent there will be lost.

• Initial Complaint

  05/11/2024

  Complaint Type:

  Order Issues

  Status:

  Unanswered

  More info

  My mortgage provider SPS fail to pay my village tax for 2nd half this was due on December 1,2023 up until they have not paid said it’s under investigation no explanation to why it wasn’t paid my tax went into a tax lien my property was suppose to go on auction I had to pay it out of my pocket to avoid auction. My village tax again is due again June 2024 1 st half all information was on escrow analysis I have roughly 4200.00 in escrow to date I’m in the process contact NYS banking and mortgage division I have contacted my local legislative and my assembly person for assistance this bank refuse to talk with them or resolve this situation my mortgage is current they debit my checking account every 15rh of the month. The message when I call every time is that this a debt any information obtain will be for the debt I’m tried I have a weak heart with all that has been happening I force to see my cardiologist because of this stress I gave myself a reprieve but Monday 5/13/2024 I go back to phone I no that Credit Sussie is their parent bank. I’m so in contact with NYS attorney General. There is a great deal of people that is going through what is happening to me and family and possibly lost their home as a consumer we need representation from companies like SPS they defraud people take money raise the mortgage claiming taxes short for the fiscal year well tat can’t be reason the paid school and general tax which is county tax but not village. I need help

• Initial Complaint

  05/02/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Unanswered

  More info

  On a credit report shows that I am late on my mortgage from Select Portfolio Servicing Inc. ( Regarding property address *** * ******* ******* **** oxnard California 93033). I am requesting that this get s to be clarified. I had a issue with select Portfolio on my other property . And was recently corrected by BBB. And requesting that this be corrected as well . Thank you ****** ******

• Initial Complaint

  04/29/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  So my mom died 4/9/2024 and we (meaning my brother and I) are trying to get ahold them to take over payments on my mothers house and make behind payments asap. We are unable to make contact with them and they denying us our right to the home.

  Business response

  05/01/2024

  Select Portfolio Servicing, a mortgage servicer, is unable to identify any account associated with the information provided in the inquiry.

   

  Thank you

• Initial Complaint

  03/13/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Today is 3/13/2024 and my Mortgage payment has not been posted. It is the law that consumers payment are posted. The mailing address for my payments is: Select Portfolio Servicing, PO Box *****, ************** *****. However, My March 2024 Statements address was: Select Portfolio Servicing, PO Box *****, ************** *****. A different PO Box number, I dont understand the deception. Moreover, on 2/16/2024, I sent Select Portfolio Servicing, a Certified Letter, Requesting to know, the Owner of my Mortgage Loan. The letter was signed off and picked up on 2/21/2024, By *******************************. I have a the actual, Signature Confirmation. Today is 3/13/2024, and Select Portfolio Servicing, has still, not informed me, who is the owner of my mortgage Loan. According to the law, Select Portfolio Servicing being the server, has an obligation to provide me the Name, Address, and Telephone number, of who owns My Mortgage Loan. In the past, when I was paying my mortgage to any other company, it was never an issue. I received my statements on or around the15th or 17th of the month. A the payments were always posted. It has been nothing but issues since I have been dealing with Select Portfolio Servicing, There is so much deception and lies, as well as questionable ethics with Select Portfolio Servicing. Many of Select Portfolio Servicing practices, are against the law..

  Business response

  03/26/2024

  Payments
  In the inquiries, ************** stated she sent a payment that was not applied to the account. *** received a
  check payment on March 18, 2024, dated February 28, 2024, in the amount of $539.19 and these funds
  satisfied the March 1, 2024, due date. For Ms. ****** convenience *** offers the following payment
  options:
  x Automated Clearing House (ACH) She can pre-authorize *** to withdraw funds equal to
  her monthly payment from her checking or savings account on a specific date each month.
  There is no cost for this service.
  x US ************** Send a payment via US ************** using the payment coupon
  included with the monthly Mortgage Statement.
  x EZ Pay By Phone or by Web (www.spservicing.com): For each payment, **************
  authorizes *** to draft from your checking account a specific amount on a date that you
  specify. We will obtain Ms. ****** consent prior to initiating payment and will advise her of
  any fee for this service, which may be up to $15 for payments over the phone with an agent
  and up to $5 for payments online or through our automated phone system.
  x ************* ***** Collect ************** must provide ************* the following
  information: Code City OSWALD and the Code State UT. If she wants the payment
  transmitted to *** the same day she must use the blue and white ***** Collect form,
  check the Urgent box and advise the ************* agent that she wants the Urgent
  delivery option. There is a ************* charge for this service.
  When ************** authorizes electronic payments, please remember that funds may be withdrawn from the
  account on the date designated in the authorization.
  Additionally, ************** may set up bill pay through her financial institution. Please see the enclosed ***
  Transaction History for review.
  Mailing Address
  In the inquiries, ************** raised questions regarding the mailing address for monthly payments. The
  correct payment address is P.O. BOX *****, **************, ** 84165.
  Mortgage Statements
  In the inquiries, ************** stated that *** is not sending their monthly Mortgage Statements in a timely
  fashion. *** follows standard processes of crediting and mailing monthly Mortgage Statements. The
  enclosed most recent Mortgage Statement dated March 15, 2024, reflected that the account is due for
  the March 1, 2024, due date as the check payment referenced above had not yet been received. The
  date the Mortgage Statement is mailed, should provide ************** with 16 days to receive the Mortgage
  Statement prior to the payment being due. The account is afforded an additional 15 day grace *************** the due date before the payment is considered late.
  Once *** has mailed the Mortgage Statement, we are not able to control any delays associated with the
  ************* ************** ****** mailing timeframes. However, ************** does have additional
  options to receive her monthly Mortgage Statements electronically. *** offers the ability to sign up for
  paperless statements. This electronic method eliminates mail delivery timelines and will allow **************
  to receive and view the Mortgage Statements online.
  1098-Statements
  In the inquiries, ************** stated that *** did not send the 1098-Statement for 2023. *** mailed the
  enclosed 2023 1098-Statement to ************** in January 2024 to ***************************************************************br>31907-3680. ************** may also view the 1098-Statement on the *** website.
  Noteholder
  In the inquiries, ************** requested clarification regarding the Noteholders identity. Federal ********************************** as Trustee for the benefit of the ****************** Seasoned Credit Risk Transfer
  Trust, Series 2019-4 is the Noteholder of the account, and *** is the mortgage servicer. As the
  mortgage servicer, *** is authorized to collect all payments and administer the terms of the enclosed
  Note and Security Deed. Questions or disputes regarding the account and any request for mortgage
  assistance should be directed to *** in order to ensure a timely response and resolution. We have
  enclosed the Noteholder Information Notice for your review.
  ************** also stated that she had previously requested the Noteholder information. Please be advised
  that we do not have record of receiving the correspondence requesting the Noteholder information.
  Allegations
  In the inquiries, ************** raised several claims regarding *** engaging in deceptive practices, ***
  violating federal law, stated that *** forged documents with her name, stated that *** advised them
  that *** is attempting to steal homes, stated that *** is engaging in harassment and stated that a
  representative contacted them in an attempt to obtain her personal information. We reviewed these
  claims and found no merit the allegations. *** is confident that the servicing of the account by *** has
  been compliant with all applicable state and federal regulations.
  Servicing Transfer
  In the inquiries, ************** requested that *** transfer the servicing of the account to a new servicer.
  *** does not have authority to transfer accounts to a new servicer. As the servicer, we do want to assist
  ************** and ask that ************** contact us if there is any way that we can help with the account.
  ********************** Reporting
  In the inquiries, ************** stated that *** furnished negative credit reporting for the account and
  requested that the negative credit reporting be removed. Please be advised that *** has not furnished
  any negative credit reporting for the account.
  Our review of the information provided to the Credit ****************** (CRAs) confirmed that the
  reported information matches the status of the account. Based on this, we will not be requesting an
  update to the information we provided.
  *** reports credit information to Equifax, Experian, TransUnion, and Innovis. If ************** is reviewing a
  report from any other source, please be advised we are unable to review or update that source.
  In response to the concerns you expressed regarding your interaction with ***, we regret that you feel
  that our service has not met your expectations.
  As of the date of this letter, the account is due for April 1, 2024.

• Initial Complaint

  03/01/2024

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  My husband and I just asked for a reconciliation we have gotten the runaround on the phone they just keep asking for more and more money without really explaining why we’re being taken advantage of and can’t quite get even get an answer.

• Initial Complaint

  02/27/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This mortgage service provider withdraws funds for our mortgage payment on an autopayment basis. They collect our funds from my bank directly and then tell us we are late paying. I have proof from my bank that they initiated the transfer out of my checking account and that the funds were transferred February 2nd. After 25 days holding my payment they are saying they have noted my account showing late pay and they will now be returning the funds on 2/26/24. They cannot offer any information as to why they've kept our funds all this time illegally saying we haven't paid. We have had a problem every month with their systems being incorrect since they took over our loan in November 2023.

  Business response

  03/15/2024

  Mortgage Payments
  In your inquiries, you raised concerns with the payments remitted to SPS, and stated that you made
  payments that have not been credited to the account. This account was service transferred to SPS
  November 1, 2023, due for the November 1, 2023, due date. A payment was made on November 28,
  2023, in the amount of $4,500.00, which satisfied the November 1, 2023 payment. A payment from the
  prior servicer was also received on November 29, 2023, which satisfied the December 1, 2023 payment.
  Please be advised that SPS was informed that the payment from the prior servicer on November 29,
  2023, contained an incorrect account number. The payment was applied to this account, however, it was
  not intended to be. Accordingly, this transaction was reversed by SPS, and the check was not deposited.
  The reversal was not associated with any stop payment initiated by Mr. and Ms. ******, and it was not
  associated with insufficient funds. SPS sent the enclosed notice, dated February 27, 2024, which
  informed Mr. and Ms. ****** of the reversal. While the reversal of this transaction occurred on
  February 26, 2024, it was for the transaction that satisfied the December 1, 2023, due date. Additionally,
  a phone call occurred on February 28, 2024, which discussed the details of the reversal, the account
  status and the information provided on prior phone calls according to the account details available at the
  time of those calls. We apologize for any inconvenience this may have caused.
  The payments on November 28, 2023, January 1, 2024, February 1, 2024, and March 1, 2024, have
  satisfied the November 2023 through the February 2024 due dates. The SPS Transaction History is
  enclosed for review. If there are additional payments that your records indicate have not been applied to
  the account, we ask that you please forward supporting documentation for these payments in order for us
  to review further.
  Credit Reporting
  In the inquiries, Mr. and Ms. ****** questioned SPS’s payment posting and credit reporting processes.
  Please know that our legal and contractual obligations guide SPS on how to post payments and report an
  account’s status to the credit reporting agencies (CRAs).
  SPS has reviewed the payments posted to the account and we did not find any payment posting issues
  except as detailed in this response. Additionally, our review of the information provided to the CRAs
  confirms that the reported information matches the status of the account; SPS has not reported any
  negative information to the CRAs. Based on this, we will not be requesting an update to the information
  we provided.
  SPS reports credit information to Equifax, Experian, TransUnion, and Innovis. If you are reviewing a
  report from any other source, please be advised we are unable to review or update that source.
  In response to the concerns expressed by Mr. and Ms. ****** regarding their interaction with SPS, we
  regret that they feel our service has not met their expectations.
  As of the date of this letter, the account is due for March 1, 2024.

• Initial Complaint

  01/11/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Unanswered

  More info

  On 10/30/23 the mortgage on my late sister’s property was transferred from US Bank to SPS. US Bank was advised we intended to sell the house as part of liquidating the estate. I also advised them a mortgage life insurance policy payout would bring the account current and reduce principal. I am the court appointed Administrator for the estate, documentation of which is in the hands of SPS. SPS has acknowledged receipt of the following: Commonwealth of Pennsylvania – Short Certificate, County of Beaver, Death Certificate, Deed, Appraisal, US Bank Successor in Interest letter, Union Security Insurance Company letter dated 12 October 2023 stating they had forwarded funds in the amount of $150,668.50 to US Bank. US Bank misapplied the Union Security funds believing they were a damage claim. I advised them it was a life insurance policy and not a hazard insurance policy. US Bank transferred the account to SPS before that correction took place. Once “onboarding” of the mortgage account was completed by SPS I attempted to have SPS make the correction. I’ve spoken to the SPS call center personnel no less than 12 times and on each occasion have been told either that they cannot talk to me or there’s additional documentation required. When responsive, representatives have stated the process is “in works” and that the misapplied funds will be transferred appropriately. The estate attorney has also requested a payoff amount. The request has been ignored. I would like to know when that transfer will take place. SPS has had access to the account for nearly 2 months and that is certainly enough time to review documentation, make a proper determination, and apply the insurance funds to the back payments/fees and principal. I advised them I expect that accrued interest/fees that have accrued since US Bank received the insurance funds will be adjusted accordingly. The property is now under contract and I’m concerned SPS negligence will impact the sale.

• Initial Complaint

  11/28/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We purchased a home on a short sale where SPS was holding the loan. We came to an agreed price back in September 2023 and proceeded with the sale. We closed on the property on Nov 8th and wired SPS the required funds and documents. It has been 3 weeks since closing, and SPS has still not closed out the account, because the seller previously filed for bankruptcy. The seller dismissed the bankruptcy back in August and I provided SPS with the dismissal letter sometime in September. SPS provided a specific extension to call to reach a specific account manager, but I've never been able to reach her. Its always a different person providing a different answer. I called SPS after closing to see what the hold up was, and I was told that no additional documents were needed and everything was sent to accounting for closing. A few days later, another person said the home is still under bankruptcy and another said it was closed on Oct 26th. *** said they would escalate for court approval but it can take a week, so I decided to call the county clerk myself and got the dismissal information in less than 10 minutes but SPS said they need to do it themselves. I offered to get the clerks office on the phone to expedite the process, but they refused and told us to wait until the end of the week. We are selling the property again and were supposed to close today with another buyer, but we can't because of SPS's negligence. It's costing us over $4000 having to push our second closing to December. In addition, someone from SPS told our new buyer that the home would be foreclosed on Dec 4th when that is not the case! It should not take over a month to close out the sale. The title company asked SPS for something in writing saying that since the bankruptcy was dismissed, all that's left is accounting and they refuse to provide that to us which is prohibiting us from closing with our new buyer. As it stands, they have over $350k of our money but we don't have ownership of the property.

  Business response

  11/29/2023

  Select Portfolio Servicing, a mortgage servicer, is unable to identify any account associated with the information provided in the inquiry.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩