Consumer Complaints and Reviews
CitiMortgage sold our mortgage to SPS starting 2/1/17. We mailed our February payment and March payment to SPS. Only had them for 2 months and got a foreclosure letter. After calling SPS a total so of 16 times we were told that they see where we made the payments but the payments were being held on the side (these 2 checks cleared our bank) and that they were waiting for information from CitiMortgage. Called CitiMortgage to find out why they hadn't sent the January payment records to SPS and was told that they did send it, spent exactly 2 1/2 hours on the phone with SPS last night getting a runaround. Got one person who I could actually understand, seemed nice, put me on hold to check something and got disconnected. This company needs to be investigated. If anyone starts a class action against them count me in. This company has caused me more stress than I can stand. Stay away far away from this company.
We were in bankruptcy chapter 13, never missed a mortgage, payment, then Beneficial sold our mortgage to SPS. The fun begins. With my wife retiring and me drawing disability, we decided to try for a loan modification. As they all said before they kept losing the papers or saying the fax was not working in some way, around 2 months I said, "Screw it," and decided I was walking away from this house. Somehow I became 1 1/2 month behind on the house. They then went into foreclosure mode. I begin to have weird folks taking pictures of the house, strange people driving by telling me my house was about to be auctioned off.
I finally decided was all I wanted was time to save money up and move from the house. And that is where we are at now. I will file a chapter 7 Monday and yes walk away from a house we loved for 14 years. PS I must also say I blame the trustee in chapter 13 for screwing up my payments and making me late. She held my payments for 3 months and finally sent the check to Beneficial.
I have been trying since March 20-2017 to get SPS to return money that was sent to them in error. No one seems to know how, the bank says it was SPS and SPS says it was the bank. Anyway as soon as I seen that it had been taken from my account and without my permission, I called I have talked to 22 different agents as of today and everyone has said the same thing that they are escalating the process so the money will be returned within 72 hours. That is a crock. No one has done anything and we are in week three. The first 4 times I believed them. I have faxed all the documents that they requested along with my contact number but I have never been contacted, not once. Today I ask what escalating means and was told that it just means it was sent to the supervision in the cashier department. This is the worst excuse for a company that I have ever had to deal with.
I am filing a complaint with the BBB and hope the other 700 or so customers do also. After so many complaints with the BBB they will start an investigation.
My realtor send in an offer on our house on August 16, 2016. As of today we still have not heard if the Short Sale has gone through. This company is nothing but a fraud as they acquired our loan from Chase and for the last 4 years we have paid nothing but interest on our loan, nothing towards the principal. They ask every time to record my phone calls which I do agree to, because I can't imagine any company would was to be known for taking 7 months to finalize a short sale. The offer made on the house was exactly what it was appraised at. Thank the good lord that the buyer has stuck with us through these 7 months.
The problem I have with this is that they are taking our credit rating down the tube as late payments but I was instructed by them to not make any payments while it was in short sale. HELP. I want to know who I can contact for pain and suffering during this time as we have relocated and not lived in the house since September 2016. We had been paying someone for lawn service, utilities etc and I can't afford to do both. Please help in any way you can.
After looking at many reviews, I see that they are not paying people's taxes? They had my property as well, in which I lost to foreclosure! I see this company everywhere, even when I look at homes that are bank owned. I'll see a sheet of paper on the counter, with a date and their name, "Select Portfolio Services". When I look at property taxes to see if they are paid up to date, who do I see? For years prior and then I see another company take over paying the taxes. Looks shady to me. DON'T LET THESE BANKS WIN!
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I was going to write a review much like all the rest on here about how this company has been screwing us around. Telling everyone about how we have been in our home 22 years and my health is failing and my work hours have been cut and we got behind. How they continuously mess the Modification paperwork up and they send people out to take pictures of our home and they call and harass us. But We all know this so I am not going to do that. WHAT I WANT TO KNOW, HOW DO WE START A CLASS ACTION LAWSUIT AGAINST THESE PREDATORS? Someone surely knows something about how we get started. What they do can't be legal! Is there no way to stop these animals?
The interest paid to SPS as reported on their IRS Form 1098 is approximately $11,000 more than it was last year. The total interest paid according to Select Portfolio's on Form 1098 is actually more than the total amount of mortgage payments for 2016. The company rep had no explanation for the matter. I am reluctant to File my 2016 Income Tax Returns as a result.
My mortgage is currently being serviced by SPS, and has been since 2010. After seeing a late night TV advertisement for Homecomings Financial, I contacted them for help getting a loan mod. I hired them, but before finding out they were frauds, they scammed me out of several months worth of house payments. Before this happened my mortgage was always in good standing with Chase.
After realizing I'd just been scammed, I attempted to bring my mortgage current by paying the 3 months worth of payments I was behind. I went to my local Chase Bank branch to make the 3 payments, but they refused to take my payment! I was instructed to call the Chase department handling my account. Long story short, I explained how I hired Homecomings Financial to assist with a loan modification, and that I was paying my mortgage payments to them. Then explained how Homecomings Financial assured me they'd be making my payments while working directly with Chase to get me a loan modification. Chase wasn't helpful in any way, shape or form, even though I had proof, plus a great payment history.
Chase advised me my account was in default and the foreclosure process was started. Even though I was only 3 months behind and had money to bring my account current... including late fees! This all happened in 09 and by mid 2010, I was facing a Sheriff sale date. A few months before the sale date, I received notice my mortgage was being serviced by SPS.
I managed to avoid the 2010 Sheriff sale by applying for a loan mod, which I was denied for several times. Then in 2012 was facing another Sheriff sale date, and ended up having to file chapter 13, which stopped the sale. My bankruptcy was dismissed due to not providing documents the trustee was requesting, due to me being self-employed.
So I suffered through another almost 2 years worth of anxiety, severe stress and depression, dealing with SPS. Towards the end of 2013, I finally managed to get a loan modification with SPS, through the HAMP program. Everything was going great, payments were made on time etc., etc, and finally had the permanent loan mod I was wanting.
Then in late 2014, I tried starting up my construction business framing homes. Long story short, I ended up falling 3 payments behind again. This happened because I was faced with the choice of paying my employees or my house payment. I chose to pay my employees, so they wouldn't quit, thinking soon as I was paid, I'd bring my mortgage current. Well almost 3 months later, I was just finishing my 3rd home and was getting paid.
After getting paid, and finally having the money to bring my account current, plus a 4th payment... SPS REFUSED my money, and said I was in default again! By the 5th month, they contacted me with the option to reinstate my account and would contact me with the amount to do so! I gladly accepted and 3 days later was given an amount to reinstate my account that was over double the amount of my 5 payments!!! Unfortunately I didn't have enough, so asked if I could pay what I had, and then pay the balance of the reinstatement amount over the next 3 or 4 payments... they of course said NO!
A couple weeks after this happened, I contacted my SPS relationship manager pretty much pleading for a doable solution I could handle. He instructed me to set my monthly payment aside each month into a savings account. He instructed me to continue doing this until I heard back from SPS with a workable solution. Several months went by, and I was never contacted. So I contacted them and just got the runaround. Then in 2015 was served notice of Sheriff sale, so hired an attorney and he got it cancelled, and by March of 2016 was facing another Sheriff sale.
I ended up filing chapter 13 again and got the sale date cancelled. Here it is, March 2017 just filed another chapter 13 & I've been living this nightmare for over 7 years now! This has totally ruined my life, and has caused nothing but stress, anxiety, severe depression and constant fear of not knowing what tomorrow will bring! I pretty much gave up my construction company up after I finished building the 3rd house. Before all this started, my mortgage was always paid on time, and my credit was great! I owed under $70k on my home, now owe $113k which is almost $20k more than it's worth. I built the home in an established older neighborhood in 01 and my daughter and I have lived in it since then.
The results from all this, plus quite a bit more, has also caused me bad suicidal thoughts and urges, for the last 7 years! I feel both SPS and Chase Bank are deceitful and have no intention of helping me keep my home. Even though I've only made a few payments in the past 7 years, and still live in my home, I'd much rather have my life back the way it was before falling victim to this whole foreclosure/loan modification scam that these banks have ruined so many people's lives with! If you managed to read all this and know of a way I can keep my home and resolve this nightmare permanently... PLEASE reply. I'd be the most grateful person on earth!
We have been pelted non-stop from different people calling on SPS behalf. We were told we were given a RELATIONSHIP MANAGER that we are supposed to correspond with for our account. Well lo and behold that MANAGER finally called us today not once but twice. The second call the individual identified themselves. Now we will respond to that call. We have several different payments from several different people. We are paying what they told us to as a trial plan. We were told if we made all our payments as scheduled we would continue at that payment from the trail period on. WE have enough mail from them to start up a branch for the USPS. We will give as necessary to this review.
I had Beneficial. They sold it to this company they said was gonna help and get assistance to keep my home but puts my home in the market behind my back. Total ripoff. I'm losing my home in 30 days for a foreclosure and barely receiving a letter of the foreclosure after they told me I wasn't losing my home on the phone.
My loan was sold to Select Portfolio and several people from there told me that they would help us to keep our home. We applied for a modification in order for us to be able to pay the loan because we are on disability and they denied us the modification. My husband and I both are disabled and can't move anywhere and they are pushing us out of our home. After we had filed bankruptcy and we've found that we didn't have to pay the loan now they are trying to collect from us but they won't help us after they said they would. Don't trust SPS.
I received my 1098 in late January and noticed immediately that Box 1 Mortgage Interest Received from Borrower (me) was materially overstated - almost double what it should be. I track my amortization schedule every month, so I have a good idea what the amount of interest paid during a year is. I called Customer Service twice and they were absolutely no help at all - even saying the difference is due to a loan mod - which I don't even have. Have now escalated to the Ombudsman level and again two phone calls within the past two weeks and still not resolved. They are claiming their system changed this year, so I would offer advice to all to double check Box 1 before filing your Tax Return.
In July of 2016 our mortgage was transferred to SPS Servicing from HSBC for servicing of our mortgage. At that time our balance was $171,000. Now by some set of circumstances we owe $184,000. Something about principal that HSBC added back on. WHAT? We also had an ARM. Our interest rate immediately went up, without even a letter from the company until after. I called and they said that it went up because we had an adjustable rate and the Libor went up and it was our 6 month interest change.
I asked if we could rewrite this loan to a conventional set rate. They informed me they do not rewrite loans but I should apply for a modification and that could change our rate if they saw fit. It took almost 6 months of them telling me they still needed more and more paperwork and proving my husband's retirement income was correct from the government and they needed more bank statements, on and on... after that time, they sent me a letter, "congrats you are approved for the HARP."
Well the gist of the approval was that they would take our mortgage back up to 30 years (of which we had 17 left) and reduce our payment by $150 a month. In the process of figuring out what the cost to us would be, it came out that SPS would gain $85,000 by doing this and we would gain 13 years onto our mortgage to save $150 a month. I told them no one in their right mind would take a deal like that. My husband and I are in our mid 60s and are trying to pay our house off sooner not later. I told them there was no way on God's green earth any sane person would take a deal like that. Now they say, well maybe we could go get a loan somewhere else and they would do a "short payoff". However we may be responsible for the balance. These people are CRAZY... HSBC was a great company for the past 13 years, why they sent it to SPS is beyond me.
I feel it doesn't matter how many complaints they get because mortgage companies just use them to service their accounts and the average person doesn't get a loan from them. So unless something is done about this company and their tactics, it will keep going on. I agree with the person who said they need a class action lawsuit against them.
Rude people, holding back late fees that are paid with regular mortgage instead of applying to mortgage payment. Trying to tell me I am behind 2 months when I am only 35 days behind. SPS is holding Unapplied funds totaling a month's mortgage payment instead of applying it to account! Telling me "There is a hierarchy of Payment. We can not apply this money until it equals a FULL Payment!" WRONG Late Fees get applied to the Monthly amount not held on the side putting the person making payments further behind the eight ball. My mortgage was "sold?" to them from OCWEN, who acquired it from Chase, by the way was fined 4 billion for Unfair Lending Practices. I wonder if SPS holds my Paper, if not Legally I should not have to pay them So long as I pay the Original LienHolder, CHASE BANK!
Like many, my mortgage loan was sold to SPS, and it has been one nightmare after another. I sent in paperwork for a loan modification in November 2016. I did not hear from anyone and when I called, they said there was one page they could not read. No one called me and informed me. One representative said someone did call. I told them my cell phone logs every call and no one from SPS called me. I question their integrity. I was not approved for the loan modification. Unfortunately I have an ARM, and the interest rate went up. A SPS representative called me twice a month to inform me of the increase in interest and each time told me if I have difficulty in making the payments, I can apply for a loan modification. I could not believe my ears! I told them I had and I was not approved.
Finally, I decided to record them and told them to cease and desist all calls regarding the increase in interest rate. My loan was with my previous institution for 15 years and I have NEVER gone through anything as what I have gone through with SPS. Within 6 months of taking over my loan, SPS advised I did not have sufficient funds in my escrow, the representative suggested I try to lower my home insurance. I bundled my home and auto insurance which lowered my home insurance and I received a letter stating I was still short in my escrow and have documentation that my insurance and city taxes were lower. SPS response was to consider a short sale. This company goal is not to help the consumer.
We have had a good experience with Select Portfolio. We fell behind in our payments since I had to stop working to care for my elderly mother. Our home was in the first steps of foreclosure. We applied for a modification and while I will say it was not an easy process, we did all that we were asked and it all worked out very well. We saved the home and have a payment we not only can afford but we couldn't live anywhere for less payments wise and we were able to stay in our home. I am thankful for all that was worked out here. Our relationship manager was always in touch with me and always pleasant. I would have to give 5 stars here. I am sorry to read all the other bad reviews, but we had a very good experience with this company.
We were threatened with foreclosure in 2012. Filed bankruptcy in 2/2013. Bankruptcy was finished in 12/2016. Now I January threatened with foreclosure again. Company says behind on 6 months. Untrue. Illegal paperwork filed with county clerk's office in 2015 for corporate assignment of benefits. This company needs to be closed for their illegal foreclosure and downright stealing of people's hard earned money. They are not a bank or Mortgage company. They are just a servicer. Downright underhanded.
Has anyone had any success with legal action against SPS? I for one would be open to a class action law suit, I just cannot understand how these people are able to get away with these tactics. Living through the nightmare I read in the majority of these posts, it feels as if I had written them myself --- years of frustration, stress and worries compounded by a pyramid corporation built on a steady base of fraud. A suggestion for ConsumerAffairs, there should be an option which allows you to rate these people by giving them no "stars" at all.
A few months ago my mortgage was sold to this outfit from Roundpoint Servicing. I received notification from both companies that no conditions would change. Roundpoint did not charge me to make online payments. This month I elected to pay online rather than by check. Surprise surprise. 15 Bucks unless I set up automatic withdraw. I'm glad I got on this site. I have read the reviews and will not set up an auto withdraw. Bad actors.
Always short on my escrow every year, what is going on with the money. It shows up to date on the bills then I get a bill that says short. Trying to find out why this is possible, can't get no answers from them.
I could go and write a very long horrible experience with SPS, but it says the same as everybody else's reviews. They keep trying to foreclose stating I didn't get them all paperwork when I have email confirmations for everything I've sent them, you never get to talk to the same person and each rep tells you something different or they say I don't know why the rep said that but it's wrong you need to do this, and so on, I have gotten them everything they have requested months ago but they keep slapping me with foreclosure dates when they have everything.
The stress of this going on for over a year now is truly I believe killing, my health is horrible and the doctors are stating that the stress has probably brought all of my health issues on and I probably won't get much better till the stress is gone. We need to stop this company, class action lawsuit is what we need to do, power in numbers, let's stop then. We need an amazing attorney that believes in our cause to help. Any attorneys out there? Who wants to take action??? Please contact me to see if we can start class action and make them take responsibility for what they have done to innocent people and what they are continuing to do.
I sent a FEMA flood insurance check to Select Portfolio on a mortgage loan I paid off before the flood happen in August 2016. First they said they couldn't endorse the check because the loan was paid off and they were mailing the check back. After a month they said they couldn't locate check only to learn they had deposited it in their account. Now, they are saying because they did a short sale on the loan they have the right to keep the funds on my home that needs fixing. They have lied and lied so much about sending documents to prove this money came from FEMA only for them to still change their minds again and again after they have said they would release the money to me. I need help with this. Anyone. I need my home fixed. I am sick cannot work. This is why I asked for a short sale in the first place. Please help asap.
SPS took over servicing our mortgage account from another company. Their representative told us we qualified for a loan modification. "Submit the application and required documentation, and you should have an answer in 30 days." Well it's close to 90 days since I completed the application, and my application has been closed three times from "incomplete information and inactivity." I have been told by a "relationship manager" which is actually whatever random person happens to answer the phone, that all my information was complete and it was forwarded to underwriting.
They repeatedly lose information and require me to resend. They then assure me all information is complete. I no longer trust them to properly process the application, so I call in and learn that my application is sitting inactive because they had a question about some detail, but nobody bothers to call or email me. There is no accountability. They are really a large, mindless, automated zombie of an organization. No one has any responsibility to walk an application successfully through the processing sequence. Talking to a supervisor made no difference. They have no ability or concern to prevent repeated mishandling of a customer's account. I have never experienced such an inept, bungling operation in my entire 5 decades of existence on this planet. I hope I can refinance in the future and get as far away from this inept organization as possible.
After 16 years of being in my home my home loan was transferred to this company and it has been a nightmare since. I was attempted to reduce my mortgage rate. I have sent in numerous forms that the company has requested, and some way the company loses them or they did not receive them. When sending the forms I cc myself and there is not an issue in retrieving them. I have been dealing with since September 2016. I am getting so frustrated with the people at this company. After 16 plus years in my home I will not allow this company to take my home. All I have gotten is the run around with staff and supervisors. I will file a complaint with the BBB and with looking into seeking legal actions. As soon as I can I will be transferring my loan. Lies and the running around is all you will get from this company.
Well, I just reported our whole story to 7 On Your Side News Station regarding our house that they just started back up with the foreclosure. Plus with the 4 consecutive years of medical emergencies on both of us plus with Lynn being a disabled 77 yr old that served his 4 yrs in the army. Now they want Lynn in therapy everyday at a rehab hospital with me since I'm the spouse of 40 yrs. I contacted the company that will get me certified to start this right away and the pay is up to $15.00 hr plus the data entry at night job. If Lynn improves back to as well as he was after the first stroke I can get a regular job again in maybe 6 months. The info from our mortgage company was just showing how much we could make possible on an as is short sale! Guess if they have it their way we will be a 60 yrs old and a 77 yr old disabled homeless. The more stress Lynn is feeling from me is not helping. That's why I cry at night... Big Prayers Please. God Bless.
I spoke with someone in customer service who said the above documents were not received. The realtor indicates they were faxed. Therefore, I am sending them via email and the realtor is included on this email. A customer service rep at SPS told me that we had a year to sell through a Short Sale so I contacted a realtor. He said after the short sale I would receive $10K. I secured a realtor. Now she has a person who has expressed interest in the property and a foreclosure is again in progress.
I received four letters yesterday with dates ranging from January 3-5, 2017 all having different information. One said I was denied assistance because an appraisal was unable to enter the property and get an interior value. This information is not correct. I have not been contacted by an appraiser. Since I wanted to avoid a foreclosure it would make no sense for me to refuse to allow an appraiser to gain entry especially since I am allowing a realtor to enter and show the property. Additionally, that letter said I had "opted out" to receive assistance. That is not at all true. Please listen to your recordings.....
I spoke with an SPS rep last night who said I was approved for "Cash for keys" but that the cash amount was $0. Please note that I am unemployed and not drawing unemployment and therefore will not qualify for housing. Please reconsider this or at least give the realtor an opportunity to make this sale so I might have a chance of receiving some type of monetary assistance.
I have been trying to resolve a tax issue with Select Portfolio Servicing for months. From day one there has been no proactive communication from the company. I call to check on status and each time I am told that "someone is working on it". When I ask for a call from "someone" to give me more detailed information, no one ever calls me. The SPS website provides no updates. I recently sent a fax (hello, 1980s!) to complain about the lack of responsiveness and service on my issue and received a form letter telling me how to submit payments. I deserve better service and so does everyone else who works with Select Portfolio Servicing. This company lacks professionalism and integrity.
My mortgage was sold by Chase to these people. Nothing but issues, fraud, representatives that do not know what they are talking about. I'm so sick of dealing with this every month. I have just ordered ALL documents from them. I am in the HAMP program. My small 2 bedroom home was purchased in 1975 for $36,500.00 with VA financing when I was married. I divorced in 1990 and my ex was ordered to make mortgage payments. Instead he filed bankruptcy and the house went into foreclosure. My first mistake was refinancing through Farmers Home Loan, which I did not realize, was lower interest rate but recouped at end of term. I refinanced to get out of that situation and found myself involved in subprime mortgage. I am sick over this and do not entirely understand what has happened.
From the refinance, the fraud began and the mortgage reps were banned from doing any further business through the department of commerce. My mortgage was sold about 6 times, once to Ocwen, who was then found to be committing further frauds which involved my mortgage and thousands of others. Now sold to SPS, what a nightmare. I was told I did not need to make any payments during the HAMP review, and then discovered they have added on all payments that I could have been making back to the principal mortgage with interest. I need help. Are there any banking experts on this site who can help a 63 year old single female of disability to beat these people at their own fraudulent game? My head is about to explode trying to stay ahead of their scams and tricks.
We have a house behind us, in Stewartstown PA, which is falling down. The owners are Canadian citizens. They built the house in 2004 but had to move back to BC Canada in 2006 when Dave ** lost his job. They have continued to pay their mortgage. Their high property taxes ($8,000), and force-placed insurance are being paid from their escrow account. The couple has never been back to see the house. A hole developed in the roof about 7 years ago. It got worse and worse and the house is now severely water damaged. About 1/4 of the roof is gone, the ceilings are on the floor, and the walls are covered with black mold.
Our Township (East Hopewell) does not have a current address for the Canadian couple and we have no way to contact them. Only the revolving mortgage companies have their address and they have repeatedly refused to either give the Township contact information or to directly tell the ** about the condition of their house. While SPS was handling the mortgage, I filed a complaint with our Attorney General's Office and then with the Consumer Protection Agency. Meanwhile, the ** continue to make large payments on a worthless property.
Are we really going to let these people do this to our families, country, etc. Fight back. Go to your local newspaper, call your congressman. We are sick of this stealing from the American public. That's what they are doing. This is intolerable and must be addressed by our new president. Fight. Get the word out don't let these people steal from you.
Select Portfolio Servicing Company Profile
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