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Select Portfolio Servicing

Select Portfolio Servicing

 1.2/5 (35 ratings)
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About Select Portfolio Servicing

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Select Portfolio Servicing Reviews

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: July 26, 2021

I had an FHA refi done through major mortgage house, received all obligations fulfilled letter and 2 phone calls stating the same with congratulations. Received a refund for over payment 4 months later. Just received a notice my loan is in default, a lien was put on my home and failure to respond forced them to start foreclosure on me. No mail, emails, phone calls or notifications to myself or the title and escrow company were made claiming I have a no paper policy in place?? Phone calls to discuss this was met with extremely rude customer service reps, I was given 10 reasons why I owed back payments all of them proved to be false and they were supplied proof by myself and they title company.

I have been given a 2K, 3K, 4K, 5K and now 6K payoff quote in over a 4 day period and it goes up by $1000 every time I call them and show proof obligations were met. Today's story was I owe $$ on a home modification they did for me. NO LOAN mod was ever done with these liars. Now I have to get an attorney and sue them to stop harassments. Better follow up if you did a refi to get away from these scammers and contact title company before you get a notice 5 months later.

Be the first one to find this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 22, 2021

There is no rating for this agency, but I was forced to select one so I went with the lowest rating available. I have been forced to work with this agency after my original loan was sold to them. Staff are unprofessional. I have never dealt with a loan company that refuses to hear concerns of a paying customer! My original loan was sold to them in 2019 and every interaction has been met with rude staff! They are not trained in resolving matters however they are very good with being condescending and argumentative with customers.

If you have a choice do not allow this agency to be in charge of your mortgage- you will be extremely disappointed if you do so. For others that have had bad experiences I encourage you to make reports to the Consumer Protection Bureau- 1-855-411-2372. For those that have an option to refinance you should do so. No agency that is unable to offer solutions/listen to your concerns should be in charge of one of the most expensive investments that you will ever make! TAKE HEED TO ALL THE COMPLAINTS LISTED ON THIS PAGE OR ANYWHERE WHERE CUSTOMERS ARE ALLOWED TO POST A REVIEW. ALSO if you are looking for an equity accelerator program please do not use Earn Up!

3 people found this review helpful

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    Rated with 1 star
    Verified Reviewer
    Original review: July 16, 2021

    Wells Fargo had put us on a COVID forbearance. Shortly after the forbearance started, Wells sold our mortgage to Select Portfolio Services. They (SPS) claimed that they sent paperwork to a wrong address and hadn’t gotten any paperwork from Wells Fargo. By the time they decided to called our residence, they said that we were being foreclosed on. They claimed that they didn’t have to honor Wells Fargo’s forbearance and if we would like a loan modification the payments would be over double the normal payment per month for the next 12 months and the payments/interest that had been missed would go to the end of the mortgage. They also wanted the escrow and late payments paid in full.

    As if this wasn’t bad enough (SPS) needed a response by the 21 of July. This gave us 2 weeks to scramble. Putting 5 kids homeless right before school is not acceptable. We sent an appeal about the payment and was told we would be notified within a week. We were not. Upon calling they still hadn’t reviewed our appeal and said that they didn’t want to resubmit it because it would just prolong it longer. Please let us know if we have any hope of keeping our home and thank you for your time.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 14, 2021

    I had been paying this guys for a year and they don't want to report to the credit agencies for a year. I keep calling them and calling them and they keep saying 30 months and 60 months and they had decline to report to the credit bureau agencies because they are inventing things they keep saying.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 11, 2021

    Select Portfolio Servicing only cares about themselves and their bottom line. They make it extremely difficult to get any type of assistance from the company. They require every type of document just to receive help. Please find another co. for your mortgage.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 8, 2021

    We were affected by the pandemic and they agreed to delay (Covid relief forbearance) and now they’re Demanding the full amount of nearly $90000.00. Even though representative had told me about 3 months ago that they would most likely add that money into the back of the loan. but now they say they cannot do it.

    Even though they did not ask for any documentation Such as employment status or tax return, income verification. They denied us for any payment plans. Their supervisor said the underwriter denied us and when I questioned her that what did they make their decision based on, she had no answer.

    How could they do that. What kind of help is that? Delayed payment so later demand the whole amount? Unreal! This hurt more than helping us and people like us. How do they expect people who couldn’t make their monthly payment now come up with $90,000 or else the foreclosure!! Is government who recommended and or forced this company to provide relief, step up and stop SPS from threading people of foreclosure?

    7 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 1, 2021

    We have our mortgage thru this company and during Covid we did a 3 month deferment or so we were told by two people at the company and after the 3 months they told us it was a forbearance and demanded all the 3 months missed payments. We applied for a modification and jumped thru all their hoops but it did no good and now we are being threatened with foreclosure. After we were told if we were able to make one payment it would stop that from happening we were lied to and scammed. I think these guys are connected to the mafia. I have contacted 2 attorneys to sue them so far. I hope others will do the same.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 26, 2021

    This is truly a nightmare. I didn’t ask to have them service my loan and I’d like to share my experience in efforts to bring awareness, spread the word and advocate! They need to be held accountable for the erroneous business practices! My modification request Dec 2019-was disregarded & met w/ repeated document requests. Covid 19 Forbearance Request 2020 (Only approved for 1 month)! Please be advised with my research we have a legal right to due process under the Cares Act: Per the President’s Memorandum, Freddie Mac Guide Bulletin 2021-6, Coronavirus Aid Relief, & Economic Security (Cares) Act ie. Forbearance options: initial 12 months, extended 6 month = not to exceed 18 months upon request.

    Relationship Managers must be in direct contact (not solely the cookie cutter correspondence method they use) as mandated per Freddie Mac Guidelines via Section 9102.3(a) and they are in direct violation of Section 9102.3(b) because I have never spoken to an RM! An SPS authorized agent committed perjury stating "contact was made with the borrower to determine the borrower’s financial situation and explore options for the borrower to avoid foreclosure as required by California civil code 2923.55 (b)(2)". They used it to get the requirements to file a Notice of Default Filing. (1st step in commencing foreclosure process!)

    Foreclosure "actions" are supposed to be paused per moratorium? This illegal filing violates my rights under the California civil code 2923.55 (b)(2) for starting the Foreclosure process without due process or contacting me and providing options. Their illegal misconducts, underhanded lies and incompetent lack of professionalism leaves me bewildered how they are running this billion dollar business?

    SPS to date hasn't assisted me or provided me with any additional forbearance even though I qualify for it and it's all in black and white what servicers are suppose to adhere to via Freddie Mac Servicing Guideline? It's all completely ludicrous. They lied when asked about Forbearance and they said I was denied cause I told them I could resume payments! (Bold face lie!) They are coming for the equity I have in my home, no interest in helping me. Advocate with the following entities, Goliath companies like this should not be in business and getting away with illegal activities and not adhering to consumers rights.

    *Consumer Financial Protection Bureau (CFPB) 855-411-2372 file a complaint
    *Speak to a Neighborhood Legal Services Lawyer, HUD Housing Counselor
    *Better Business Bureau
    *Attorney General -California Homeowners Bill of Rights
    *Congressman Al Green of Texas Chairman of the Subcommittee on Oversight and Investigation—Protecting Homeowners During the Pandemic: Oversight of Mortgage Servicers’ Implementation of the CARES Act [1], expressed consternation” over the fact that, too often, borrowers with the 180-day forbearance set in the CARES Act instead received only 90 days. Congressman Green intended for borrowers to acquire the 180 days and then could opt to have another 180 days. He's compelling borrowers to consider filing a lawsuit; litigation, hire a lawyer, and take the matter to court!

    *In addition, anyone with additional information that would be helpful please advise in regards. I would greatly appreciate it in advance!

    6 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 28, 2021

    SPS has done everything so far to keep from refinancing. They don't let 3rd party speak on your behalf. That way they have you all the way. How long does it take for CEMA PROCESS EVEN AFTER YOU FALSELY closed the process.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 26, 2021

    This company has been nothing but horrible to work with!!!! They lie on every conversation, will NEVER work with you and buy every loan from local banks pennies on the dollar!!!! They do NOTHING of what they say at all.... GREED and ONLY want your $$$!!!! I have turned this company into BBB and other businesses for claims and again SPS does absolutely NOTHING but keep on sending bills every week!!!!

    9 people found this review helpful
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    Select Portfolio Servicing Company Information

    Company Name:
    Select Portfolio Servicing
    Website:
    www.spservicing.com