Consumer Complaints and Reviews
I have read most of the reviews on here about the different issues people have had with SPS, and I can tell you that I guess I am not alone when it comes to dealing with their unprofessional representatives. How many times I have called to speak to a rep that was assigned to me, and never have I been able to speak with her. All in all, I didn't agree with their so called modification, so one of the reps told me if I don't agree, don't sign the paper, ignore it. Well, after making payments, I was posting my extra payments to go into the escrow, well, apparently, they took all the extra escrow and applied it to the modification that I declined to sign. Now I am back at square one. They have raised the amount of my monthly payments. They didn't explain why, and I don't even bother calling anymore, because it is useless. I hate this company. They make it so difficult for you to keep up with mortgage payments and slam you when you are late!
I was on time, up to date current and a month ahead of my mortgage when HSBC denied my mod and sold our loan to SPS. Our interest rate jumped from 2% to 10% and we applied for a mod thru SPS. Nothing but heartbreak since. Stalling, requests for more forms as we get further behind. Our loan was sold in May, I had health issues and have been unemployed since July. My husband's income will not meet all the bills. I will be talking to a lawyer on Monday. Anyone interested in a class action lawsuit, please let me know. We will not be treated this way! Let us all fight back to save our homes!
Like many of the reviewers here, my mortgage was transferred GMAC to Ocwen, and now to SPS. This month was only my third payment to them, but it's my second phone call to the Ombudsman. For my most recent mortgage payment, they took out nearly double of the amount I authorized over the Internet. The troubling part is that nobody can confirm anything. All they know is the amount that was deducted. If you've had the unfortunate luck of getting your mortgage transferred to SPS, be sure you save the screenshots of your mortgage payments -- and keep them forever. Evidently, their computer system is the most unsophisticated reporting system ever created for a financial firm.
I've spoken to five different reps so far, and they've all confirmed it doesn't make a copy of anything. It doesn't track anything. It's entirely up to you to keep your own records as the ONLY thing their system show is the amount of the payment. They can't even tell where it came from or what time it was posted -- nothing. If I was able to switch companies, I'd be long gone. So for anyone who has this terrible scam of a company, be sure to keep all screenshots of your payments. Based on many Internet reviews, SPS takes out additional money and only offers a refund once they've been backed into a corner. I have zero confidence in this company and am sure it's riddled with fraud. Be very careful with them.
I have read all the posted comments and complaints about SPS. Wow! I wasn't alone. I managed to get a mod after years of sending documents to SPS on and off. I finally decided that it has to end. I contacted their Consumer Ombudsman Servicing - their email address is email@example.com or 866-662-0035. I got someone who actually cared and helped me get through their Home Retention Department. Lo and behold, I got a mod! They sent me the agreement and got a call from a representative who told me that I need to sign that agreement right away. Of course I signed it right away... I've been waiting for this to happen.
Well, after reading the agreement more in detail, I learned that I ended up with a negative amortization type of loan which means that after paying off the loan in 20 years in the amount of $371,000, there's a balloon payment due in the amount of $254,000. So that means that I would have paid $625,000 for a 2 family house in a HUD target zone area (aka poor neighborhood). I called them to complain but the rep said that's the best deal I'm going to get. She said that I was lucky that I even get a mod! I got so disgusted, I stopped paying the mortgage. I've been getting a collection call relentlessly. They told me that they can't change the negative amortization and balloon payment. I can only get a repayment plan. But guess what, I need to send them the RMA application package again... Back to the drawing board!! I think we should all have a class action suit against SPS.
Select portfolio has asked me the best number to reach me, I told them my cell phone wasn't a good number because I work Monday-Friday and requested them over 50 times to please call my work. One representative was very rude to me and hung up on me. Last week another person I talked to told me they needed me to resend all my information/paycheck stubs etc because they closed my case. I'm very annoyed with this Company. They are lazy and do not listen. I'm trying to do the respectful option by being current with my payments and turning my condo back to them but they are making things very difficult for me when I've sent them everything promptly.
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My mortgage was sold to SPS from Ocwen which was bought from GMAC which was the company I had signed papers and had NO problems with. I ended up getting behind on my mortgage due to short term medical and had a decrease in pay and increase in medical expenses along with a divorce. As soon as my account hit 90 days past due, they threw it into foreclosure. Well the only way to get out of foreclosure is to reinstate or apply for a modification... so I applied for a modification and was approved for 3 trial payments (after endless paperwork needing to be faxed in after SPS saying it wasn't received or outdated) and made trial payments on time with no problems as I was back to work and could afford payments.
After 3 trial payments successfully made, account is to be modified. Well SPS denied the mod stating that the final review they weren't able to approve it due to the numbers not coming out right and couldn't work a payment out. I work in Los Mitigation with a very large mortgage servicing company and save people homes from foreclosure on a daily basis by doing modifications and have done so for over 7 years - and definitely know the ins and outs of modifications - and know what documents are needed. So I was told to reapply. So I did. So here I am 6 months later constantly sending in documents that are so called not received or need more documents to prove this and that which is harassment to me - example: to prove my residency. REALLY? I've lived in my home for 10 years and my address hasn't changed and all docs show my address - I had to provide a luxury bill to prove occupancy...
It is like they are finding stupid stuff to prolong the process to get to foreclosure sale - I can go on and on. Then they put a foreclosure sale date on my home even during a mod review which usually don't happen only if mod is denied not during review. When I called to let them know I have an attorney and gave name and info of attorney - and will be filing bankruptcy - they removed the fc sale date immediately - funny how that works... And I get a letter stating that they removed it and will properly notify me if a sale date will be placed again. They obviously screwed up. I have equity in my home and I truly believe they want fc on it and cash out on it.
I called today to check on status as I do pretty much every day and always talk to different relationship managers and get told something different every time and this time was told new docs need to be sent in due to ones they have are expired - it is endless!! They have put huge amount of stress on me and my family and they should be shut down and investigated for unfair practices and violations. My mailbox is filled with investors wanting to buy my house and notes on my door and people driving by and actually coming on my property looking around. I feel so violated and anxiety and depression all at once. It's sad I work for a very large mortgage servicing company and help save people from foreclosure and I can't even save my own home and have had to resort to attorney representation and possible filing chapter 13 bankruptcy... :(
SunTrust sold my mortgage to SPS without my consent. I didn't sign anything with SPS, I signed with SunTrust! Now SPS is claiming that I owe more than twice as much as my property is worth, and have done nothing to help me. I'm still waiting for a loan modification from SunTrust! I will probably lose my home and being retired doesn't help either, now on a fixed income which is less than half of my working salary! They have run me back and forth with promises to help me over the last five years and they are not helping at all, just liars and thieves! How and why can they get away with doing this to people? I am going to file a lawsuit and try to keep my house! They have caused my wife and I health problems and need to be out of business as a mortgage servicer. This is not the way it is supposed to be to own your home in the USA!
I contacted Select Portfolio back in 07/29/2016 representing one of their clients with the intent to reach a settlement or a short-sale. After a clear explanation of my client's financial hardship they suggested we work towards reaching a settlement. They requested a hardship letter and an offer letter of which was sent to them a total of three times. We verified that they received it and still on 09/14/2016 they requested it again. They have requested paperwork that the average homeowner can't provide on their own. They are purposely setting you up for failure and feel that a simple "I apologize for the miscommunication" will suffice. They bully clients by enforcing their power and position to the extreme of causing homeowners to reach of point of frustration that ultimately ends in Select Portfolio being the only winner. If their core values were true and had any real sense of belief, I would not be among the over 400 customer complaints.
SPS has stalled and not allowed me to short sale a home that after my wife passed away I could no longer afford. Two real estate agents worked hard to try to settle this situation and we had several interested buyers. The 1st agent who was appointed by USA bank before the mortgage was sold to SPS actually sent me a surprisingly unprofessional e-mail that said she was going to go postal after dealing with SPS. I moved on to agent who assured me they were used to dealing with short sales and they even recommended an attorney who was assisting to make some progress. After a year they also threw their hands up saying this was the worse situation they have ever seen. SPS Neglect and inability to responded to requests and apparent incompetence has caused severe financial damage not only to me but to the neighborhood in which the home is located in a beautiful location of Cold Spring.
After almost 10 yrs, the home has been vandalized and may need to be demolished. Imagine a home that people were willing to pay 200K for. SPS do you have a response or is it another person that will have to look into the situation. They must have a high turnover of Employees because no one can ever know or remember the last conversation. Sorry to anyone who ended up with SPS. They seem to be untouchable. Not sure why the court can't even get SPS to move on this property. Sorry to the good neighbors, interested buyers and agents. I tried my best. Sad former homeowner and SPS customer in Cold Spring NY.
I am so upset and anxiety filled with depression but I will try to be clear here in my complaint. I bought this house through a mortgage company who was predatorial. They did a no doc. knowing I had no income, but gave me two years worth of mortgage payments to put in a bank and let them withdraw for two years until my then husband got out of jail. Another story... But not knowing better and suffering with depression I signed papers. Well things did not go as they planned. The husband never came home and now all was on me. Eventually chase sold this mortgage to SPS. In 2013 I filed to restart my SSID. My daughter sent in partial payments and I sent in letters explaining my situation and that I was sorry but could not do any better until my SSID came through. In 2015 they stopped accepting partial payments and put into foreclosure even though they were working on a modification.
In 2016 my SSDI started and they still have not modified my payments. My interest rate is high and I am in a ARM. They keep saying they have no paperwork that I keep sending in though. I have the fax and printouts. They remodified it and payments were higher than what I was paying. They tell me they received the forms only to call or send mail that they need it or another form that was already submitted. I am with an agency the court set me up with but still the same thing. Now my income is not enough they tell me. So my daughter who's been living here with me for the past 24 years they want proof she lives here and is going to be giving me 500.00. I sent them a letter as requested that she write that she is. It was typed and now they want it written and want her to deposit checks in my account as proof. Well my SSi could be lowered if they see income.
It's been almost 2 years with them SPS claiming they are trying to help me keep my home but no help at all still. I can't sleep, I have pains in stomach often and I am so tired of the tears that cause me to then get major migraines. I don't know what to do. I am scared, tired, and just want real help. I want to be included in any class action suit if started. Then one guy at the agency tells me that "Can't you get a job?" That hurt because if he understood my disability he would know the answer to that. God knows if I could work I would. I don't like not being able to support myself. Someone please help!
When SPS bought my mortgage I was in the process of a refinance. From the time I told them this on they messed up my loan. First they refused to pay taxes out of my escrow account. When they finally did pay the taxes they paid them twice within a week which sent my escrow into a negative balance. This was almost a month ago. I have since closed on my refinance but had to pay SPS the amount they messed up on or I would have been charged extra interest so I could close the account. Every time I call them I get the excuse that they have no information and it will take 30 days to research it.
It is my second time trying to get a modification to my mortgage. I had previously lost my job, so I fell behind on my payments. I found a HUD counselor who has been helping me with my application. She has been sending all the paperwork requested, yet they keep saying that they never received paperwork. This is my second time making a modification and both times they request information of everyone who lives there. We clearly tell them many times, to please don't include everyone, as they are renters, they can leave at anytime. But in the end of the modification they used everyone's income as the total gross. The number is huge and there is no way I can afford the monthly mortgage payment.
I've told them many times, "please I know you're only looking at the gross, but that number is not correct, as I have renters." They don't care, they just keep saying that why didn't I specify during the loan, which I did... but they said they never got any information. Also that if I can't pay then they can just get rid of this mod. The monthly mortgage they want, is 95% of my net income, and 60% of my gross. I've told them, this modification is not helping me. That I won't be able to pay soon after. They reply: "We know, but if you don't want it, then this is going to the attorneys." HUD counselor tried calling them many times, they won't return her calls. If someone makes a class action lawsuit against them, I'm in.
Just as the others - I have been attempting to work with this unbelievable company. Always a different person. I have confirmations of e-mails and attachments and one person will tell me the documents are being reviewed and the other will tell you they have not heard from me and do not know what I am talking about. Again, extension numbers and names of previous contacts "no longer exist". After an hour and a half last week trying to buy a house it went into a recording of how much the mortgage was in the rears and when last payment was made. So the next step is foreclosure to get these clowns slowed down - we can run this course too. State Attorney General is being contacted as to unfair business practices and lack of proper reporting to owner.
We were sold to this company several years ago. I had recently been in a serious pedestrian/motor vehicle accident and was off work. SPS took advantage of us every step they possibly could. Every month we were receiving paperwork stating that they had no proof of us having homeowners' insurance so as a result they were adding their own, which of course would raise our monthly payment. We sent in proof over and over, even had the company fax it to them, they say they NEVER received any of it. Then they said they were going to pay our taxes, 6 months BEFORE they were even due and charge us interest to do so. We don't have an escrow, we pay our taxes separate.
We fought it and fought it. They were finally told by the court they would have to repay us that money, they called me and said "instead of sending you a check we will just keep it in an account and put it on your monthly payment, so you don't need to send a payment at this time." SEVEN months later, they sent us a letter saying, "we have decided not to do it that way after all, so enclosed is a check" (which was less than a quarter of what they owed us). The next day we received another letter stating our mortgage was now 8 months behind and they are going to foreclose on our home. We went straight to an attorney, who then advised us to file bankruptcy.
We have been fighting these people for several years now, and they always seem to come up with an excuse for everything, so we continue to fight. What they are doing is wrong on so many levels, and they need to be stopped!!! If you are currently with this company, look at your statements, compare them, they make no sense. I have gone back 2 years so far and not once has my beginning balance matched the prior month's ending balance. How is that possible? There is nothing in the statement that shows what the money was for, and it's not small stuff either. We are talking average of 1,000 difference each month. How can I pay on my loan, on time, every month for the past several years and owe more now than we it started? That is BS!!!
We started getting paperwork from them stating we may qualify for the HARP program, it would lower our interest rate and in turn our monthly payment. We decided it was a good idea and sent in all the required paperwork. My husband called to see what was going on, but they said they never received anything, so we sent it again. Then one of the papers came back, so we filled it out again, it came back 4 different times. They never stated why they were sending it back, so through trial and error we put current dates, back dates etc (it was for them to see tax return statements). Finally, we took it to the attorney, he came to the same conclusion we had, so we were clueless as to why they were sending it back, and of course calling them was NO help.
The last time we resent ALL the required paperwork via fax from the attorney. This way we would have proof that it was received, but they STILL say they didn't receive anything. Eventually, we just said "forget it", we will go to another company and get refinanced. All was working great, we thought we were finally getting away from their BS, WRONG!!! They totally sabotaged our chance. We got the payoff, we only wanted a lower interest rate, no money back, we were set to go into underwriting until SPS added 25k in INTEREST!!! What? How can they do that? Then miraculously I started getting paperwork and phone calls stating they received my request for review through the HARP program. Really? I sent in that paperwork the FIRST time at the end of 2014, now 2 yrs later when I'm ready to get rid of these clowns they want to go through and see what they can do, FORGET IT!!! WE WANT OUT!!!
This company does nothing but commit fraud after fraud, anything they can do to hurt people and better themselves. Well it's high time we get together and go after them, get our money back, and put these creeps out of business once and for all. We have rights, and what they are doing is in violation of those rights, so now we need to fight for what we have worked so hard for, and not allow these crooks to take our homes and profit from it. I am currently looking for a good, hard ** lawyer who will help me nail these guys to the wall. I am so sick and tired of their antics, and the runaround you get when you call them. Someone needs to put a stop to it, and someone needs to finally put these guys in their place, jail would be nice, and get back the 10's of thousands they have STOLEN from each of us because of their lying, scheming, manipulative ways.
I have had trouble with this company for some time now and I would like some people to come together to help bring this company down. We have voted to put these people in office and no one is helping out the little guy, or the ones suffering from this company Select Portfolio Servicing. This company has pushed me to the point where I have thought about taking my life. The runaround I keep getting from this company is too much for me. If there is anyone willing to go to the White House to march or protest I am here for you. This company is awful and degrading. Who is helping us?
They told me they would do a short sell and give me $10,000 to get out my house but I'm not ready to leave my house and I'm not going nowhere. This company has to be stopped and we as the little guys need to make a stand and let that happen. All homeowners who Select Portfolio has to stop this company because this wrong. President Obama we put you in office and you helped with the banks and the cars but the poor people are still suffering. We need help. President Obama please go to the company website and you'll see what we all are going through.
I am writing in complaint for SPS. I have tried 3 times for MOD. on my loan decrease interest rate or repay of late payments. My husband was injured on his job on 4/07/2016. He is the only one working at this time. We didn't receive a paycheck for 3 weeks. I fell behind on my loan. As soon as my husband check came in I sent money to SPS to try to get caught up on my mortgage. 14 days later we received a lawyer notice of foreclosure. I called SPS asking why explaining what had happened with the decrease in pay for my husband temporary disability we had a hard time for 2 months getting a paycheck from his insurance provider. We fell behind in everything. Power turned off. No money for food. Trying our best to survive. SPS stated to fill out a RMA. Which I have done 3 times and all 3 times have been turned down for any form of mod. I don't know what to do.
My husband goes back to work in Sept. and we should be back on track. I've begged, pleaded with SPS to let me save my home of 28 years. Every time you call you get a different person. They tell you something completely different. Please can someone help us save our home? They also returned my payments I sent before. I even knew they put us up for foreclosure. What do I do now? Please someone HELP.
As with the other accounts, very little if any communication. SPS will not commit to any agreement. Please follow up with a hud agent or attorney. Keep a detail log of communication. And since the consent to record is out there. It works 2 ways, and can be helpful. Just because you are in a modification or communication with them, don't assume you can let your guard down. The worse thing is not getting proper notification. Keep an eye on local paper, legal section, and be prepared to see you and your property listed for short sale. At which point you give up, fight, or file bankruptcy to save your home. This is a terrible way to live, to be afraid of what is happening. You must be diligent and keep calling very often, to request status of account, what is scheduled, what info do they need, keep copies of all correspondence. If you have online access, print everything you can. Reports, transaction reports, any detail that is available.
Rerun reports, every once in a while, watch for changes (it happens!) SPS will continually deny they are a mortgage company, they instead state they are debt collectors who purchased the loan and they use that excuse a lot. We still have not gotten out from under their grasp and are actively working through our account.
Prayers for all that are out there dealing with this Company or any of the other Predators that purchase the mortgages and take advantage of the adjustable rates and other fees, etc. that some of us with little knowledge of the practices going on these days. It is a shame that the government had to step in with regulations and new programs to help people. A problem with that, who can we go to, for access to these programs. It is complicated and most banks, etc. don't want to be bothered with lengthy and complicated processes. Thanks for letting me vent. There is so very much more I can tell you but, not a good time to write that book. Maybe someday SOON!
Do not do any business with this wretched company. Chase sold my mortgage to them so I had no choice. They will not grant me a refinance from 6.5% to even 4%. I am not asking for charity, just a lower interest rate. HARP has been ignored, stating that this form has not received over and over again. Now NOAH is supposedly helping but the same horrible process is going to be repeated. SPS owner lives out of the county making millions every year but I cannot even receive a small reduction in interest.
My mortgage got transferred to SPS from BOA in Dec 2014. I researched the company and read all the horrible reviews from consumers. I decided to be extremely vigilant with them. They tried many times to make me apply for a MOD, which I refused to do (after reading all the reviews about other's experience). I called the automated system this month to make a payment. Payment was accepted and a confirmation number was issued. After seeing that the funds were not withdrawn, I decided to give them a call. They had no trace of my payment and they are going to report me as 30 date late. They held the payment to get me in trouble because they do not want you to be doing well with them. All they are looking for is take over your property and foreclose. Any class action initiated I will be in.
We got a foreclosure notice from this company and there was a sale done April 26, 2016. There was a "no sale" done because the bank put in the highest bid. According to the Clerk of Superior Court in my county, the property was "sold." Last month I received a statement and paperwork for a Loan Modification from another servicing company. We were notified that the "loan" had been transferred. I contacted this new company and they were unaware that the foreclosure had been done, only got information that the loan was outstanding, and couldn't believe that the sale had taken place. I gave them the county and sale date for the auction, now we are waiting to hear back from them. We are still in the property, and told them if they would refinance us, we would love to stay, but can't believe they (SPS) are treating this like the foreclosure never took place! Is this legal?
When my husband and I had a hardship and fell behind on our mortgage as we prepared to file bankruptcy, we requested a loan modification to help us. First we were told that our loan didn't qualify for a loan modification, then we were told that the originator of the loan doesn't allow modifications on our loan and as I pushed for it, they finally gave us a loan mod of $20 less per month. I was forced to accept this mod since we were in the midst of bankruptcy. Needless to say, when it came time to re-evaluate our loan and escrow, the monthly payment went right back to where it used to be. This company is not interesting in helping the people who have mortgages through it. They suck and I can't wait until the day that I can get away from them.
Since SPS took over on 5/1/2016 they have been trying to collect the 5/1 payment which was paid to my prior servicer. I have sent them bank statements showing and still can't get this resolved. Every time I call them they keep passing the buck to someone else. DO NOT DO BUSINESS WITH THESE CLOWNS!
6 June-10 June 2016. FYI: I haven't missed a payment for the past 4 years. My mortgage was picked up by Chimera, LLC from HSBC, who contracted SPS to service my mortgage. Upon receipt of confirmation, I called and set up automatic withdrawal (to get away from their $15 service charge, or risk using the mail) 2 weeks ahead of my due date. Everything went smoothly to set-up my initial payment.
On the date of withdrawal, they took out 2 payments at once. My wife and I contacted them as soon as we found out to have this matter resolved (because it put my bank account in a negative balance). After numerous calls, and 3 trips to the bank to have the bank fax them a statement that the money was cleared, and there is no reversal pending, along with the routing and account number, Ms ** of SPS informed us that a refund would be deposited in my account within 24 to 48 hours. All this transpired on June 6. Being a nice guy, I gave them an additional 72 hours, and still no money.
Contacted them today, and the same representative, Ms **, just happened to pick up our call. Now she tells us, again, that they need a 2nd statement faxed (like the 1st one) from our bank (with the bank's letterhead), telling them the same thing as the first statement. Then Ms ** tells us that they just received the first faxed statement (from June 6), but I still would need the bank to send a 2nd statement. Which is where we are now, getting the 2nd statement sent. Wonder if Chimera would have been better off having a company with mortgage experience servicing their loans instead of a debt collector? Does anybody know a good lawyer, just in case?
Everything about this company is one-sided in their favor. From the way their automated telephone answering service tells you their version of "Miranda": ie: "We're going to use any and all information to squeeze money out of you!" and "We're going to record this call or not talk to you" to the way they pass you around from desk to desk to answer a simple question, like "What's my payoff?" My advice to anyone forced to use this company is to line up a refi with someone else ASAP just to get away from their idiot foreign call centers and their inability to answer questions and their long wait times, and repeated hanging up the phone. Thank goodness I can refi with another co. this month. I can't wait to get away from SPS.
I was approved for a HAMP Tier 1 but SPS says I was to pay a STREAMLINE HAMP trial modification which was as high as my mortgage. I could not afford the payment hence the reason I was applying for relief through HAMP. Now that I was approved, they are saying I can't get my HAMP due to me not cooperating with SPS on streamline modification. I am filing lawsuit in Federal Court in the Western District of Oklahoma. After reading this post it looks like there is a class action coming soon.
My experience, real nightmare started with Select Portfolio Servicing when I still had a mortgage with Chase. Social security stopped paying me for the tune of $10,000 because they said I earned too much and that they had paid me too much. This made me late paying my mortgage and Chase threatened to foreclose. So, I went into Chapter 13 to save my home. Five months after filing Chase sold my mortgage to SPS. I have been making payments to them for 3.5 years. Then a couple of weeks ago I received a call from my lawyer saying that SPS wanted to remove the protection on my home because I had not made payments. I quickly got all of my bank statements for 3.5 years and the payments were all reflected. SPS even claimed that I had not made any payments to them from 8/15 to present which is just wrong.
My lawyer says that he has never seen a mortgage company wrong and wants me to pay $10,500 to SPS to stop them from going to court to try to remove the protection. I guess that I have to find another lawyer because I did make all of those payments. Even if I did pay the $10,500 I supposedly owe SPS what guarantees do I have that they would credit me with this payment. I have read many horror stories about this company since this happened. I was not aware of any discrepancies until just a couple of weeks ago. I have filed a complaint with the attorney general's office in MA and am contacting their legal staff. If anyone out there has any suggestions regarding this situation or dealing with SPS I would really appreciate it. The more I learn about this company the more nervous I become.
Due to a family hardship we got behind on our mortgage and Chase transferred us to SPS in the middle of our loan modification process with them. Needless to say our experience with SPS has been worst than a TERRIBLE nightmare. After several months of the paperwork dance and review we were offered a repayment plan as opposed to loan modification. The monthly payment amount offered for obscene but we worked out the payments. Per the agreement we were to make 3 equal payments for $1844, which was approximately 2.5 times the regular mortgage payment. Per the agreement once the third payment was completed we were told our account would be brought up to date and that we could resume our usual $725/month payments effective January 1, 2016.
As of February my account still show that we owed $2200. I kept calling to find out what was the problem only to get the runaround by the folks on the phone. Finally, on the 4th call I spoke with a young lady who told me that it was likely our repayment amount was calculated incorrectly. She was pretty certain that was the problem because according to her it had happened before. My goodness, I was never so disgusted in my life. After all we went through to scramble to make the payments per the agreement only to be told the agreement was wrong and we still owed them and the only way to resolve the issues was to pay $1944 plus another $900 to bring the account current.
I am beyond dismayed and in disbelief at how the people who are in leadership for this company are able to sleep at night. They should all have to contribute to the repayment to the countless people who have had hardship and needed the help only to be spat upon. I am sickened by this experience and hope no one else has to go through this. I am hopeful that an opportunity for legal recourse will be on the horizon soon and very soon. SPS SHAME ON YOU!!!
I as well had a loan with Chase. We remodified and had it listed to sell. This is a second home and we needed to sell. We sold the property 200,000 over mortgage due and cash deal. SPS denied the sale??? This was a year ago and we are still trying to sell our property that they have in their name because they are saying we are in foreclosure? How can this go on for so many customers and why are the laws and attorneys allowing it?? I wish I could get a answer. I email the president of Chase Bank; next will be the governor of Florida! This is so wrong! I know I will not use a bank that cannot put in writing that my loan will not be sold to these snakes.
If I could give this place zero stars or less, I would. Wells Fargo sold my mortgage to these slime balls without notice. I don't know why, my mortgage is paid up over 4 months in advance and I have always paid more than my mortgage amount each month on time (I have my payment on automatic withdraw from my checking account and pay every two weeks rather than monthly). I also pay my property taxes and they are not delinquent.
I discovered that my mortgage had been transferred to SPS on February 3rd when I discovered that a payment wasn't deducted on the 1st, as per usual. To make a long story short, after being transferred to various people at Wells Fargo to find out what's going on, I was told that my mortgage had been transferred to Select Portfolio Servicing and was given their "customer service number" (yeah, right the term itself implies that they will provide a service to you, which is total BS in this case).
I called and said I wanted to pay what was due on my mortgage. I was told that it could take up to 62 days for my information to be input into their system and that there wouldn't be any penalties if I didn't pay what was due before then. I insisted that I wanted to pay what was due. I was told to keep calling because they would have enough information about my mortgage to process a payment within the week. I followed these instructions and called every day. Finally, I was given my loan number and told that I could register to pay online.
I went online and followed the instructions given to me, both in my last phone call and on their Web page. The first three days, the system said that my social security number didn't match their information, so I couldn't register. If this was true, it was an error on their side, not mine: I input my SSN multiple times and it still wouldn't work. Finally, the system took my SSN, but each time I tried to pay my bill, it would kick me back to the login page rather than process my payment. I called back "Customer Service" and was told to keep trying to pay online. Again, I followed SPS's instructions, to no avail.
This morning, Saturday, February 13, I received a call from one of their trash bag employees stating that I was delinquent on my payment and wondering when "I would be able to pay." At Wells Fargo, my mortgage wouldn't be considered delinquent until the 16th and, again, I had previously been told that there would be no consequences for late payments until 62 days after the date of the transfer of my mortgage to SPS; as of today, it has been 12 days since transfer. I told the idiot that I have been trying to pay since the 3rd and all of the reasons why I haven't been able to do so. The person transferred me to an automatic bill pay function.
As if dealing with these douchebags so far wasn't bad enough, the automatic bill pay said that I owed more than twice than what was actually due on my mortgage and wouldn't let me pay a dime less. Fortunately, I had the money to pay the requested amount, so I did so to avoid having my good credit destroyed. However, I fear that SPS will continue to request more than is due each month and hold me hostage to pay the requested amount.
I feel so betrayed by Wells Fargo. I have had mortgages with them for three different houses over the years and have always been a good customer, paying on time, etc. Is this how they reward loyalty? The good news is that I'm in the process of selling my home because I'm being transferred. However, I fear that the incompetent morons at SPS will create problems for the sale by screwing up the paperwork. SPS needs to be shut down. Avoid doing business with them at all cost.
Our mortgage was transferred to these people in April 2015 from CitiMortgage and our nightmare begun. In the 8 months of being with them in 2015 they raised our mortgage payment twice for no apparent reason! We tried to do a modification with them which was a joke because they kept requesting information that was already sent to them and ended up not even being approved and given a resolution of a short sale... I'm sorry but that's not an option for us as we want to stay in our home of 10 years. We had never been late on a mortgage payment until these people took our loan and they refuse to work with us...
Still confused about why we were transferred to them in the first place. They don't help and their customer service reps are rude and highly unprofessional! They call upwards of 10 times per day to the point where we have had to block their number. I can't help but feel they work only to make it impossible to stay in your home. I've seen hundreds upon hundreds of complaints on this company and yet I don't feel like anyone is listening and willing to do anything about it so they continue to get away with this. This company should be put out of business ASAP!
Select Portfolio Servicing Company Profile
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