This company is not yet accredited. To learn more, see reviews below or submit your own.
Keep an eye on your inbox, the lastest consumer news is on it's way!
A link has directed you to this review. Its location on this page may change next time you visit.
During the government shutdown this company has been EXTREMELY HELPFUL and kind. We cannot thank them enough. We have had help from both the main call center and the loss mitigation team who have been able to assist us and put our minds at ease. We have had nothing but a great experience with SPS.
I do not recommend using this mortgage company. In addition to having to deal with annoying & harassing calls early in the month, I have to pay $15 to make an online payment. According to the telephone rep, that's simply their policy. I suspect this is intended to force mortgagees to sign up for automatic payment, which is free. My loan was sold to SPS by Ocwen without my knowledge. I plan to work aggressively to move my loan to my credit union. I do not recommend using this mortgage company.
Select Portfolio Servicing called my work number today when my payment was due yesterday. I think it's comical. One day and "The is Select Portfolio Servicing, a Debt Collector!" One day late. What an abysmal and horrid group of bottom feeders that must lower themselves to work in such a profession all day ASSERTING their perceived MIGHTY DEBT COLLECTOR authority over payments that are one day late. Work that queue champions. You drive those hoopties home after a day in the sweat cubes for a reason. Stand up work you're doing there headset greasers.
My mortgage with Wells Fargo was paid twice a month, WF withdrew the funds from my account successfully. All of a sudden I received WF letter stating that SPS was taking over. SPS does not support the semi-monthly payment plan that WF did. I have not had to set up Bill Pay through my bank and suffer through a semi-monthly phone call from SPS because each person I speak to either does not make note of the fact that payments have been set up through my bank or the customer service rep does not bother to make note of it. Since I am a widow, retiree with SS and retirement income the semi-monthly payment was convenient for me. I am searching out other mortgage alternatives. Definitely not a senior citizen friendly company.
Wells Fargo recently sold my mortgage to SPS and I filled out all the necessary info online to have automatic payments withdrawn the first of every month. Yet, the first of the month comes along and my payment wasn't made. I've been locked out of my account via online. And every time I call they say they are a "debt collector". WHY DID WELLS FARGO DO THIS? Is this how they treat their long standing customers that have NEVER missed a payment?! Looking for another lender.
- 1,349,896 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
My house loan, originally with Chase, was sold to these bottom feeding vultures and it has been nothing but problem after problem since. I had been paying Chase every month, and they up and sold it. Then I got very sick, and because STD was not done right (not by me, the company I worked for), I had to miss some payments. I notified the company, since I was not trying to get out of paying. Then SPS kept suggesting I apply for a modification, to help me catch up (I had 6 payments they said, even though I do not think it is quite that many, but I think every one already knows what is coming).
I applied for a modification. That was at least 2 years ago. I have had nothing but the runaround since. I send in what they want. They say it is not there. I send it in, and they send me emails saying they got it, and then they say it is not there, or it is not current enough. I call, and they say I am not missing anything. I call back and they say I need to send in the paperwork again. I get phone calls. I get things hung on my door. I get letters. I call, and it all starts over again.
I finally told them I thought they were incompetent, and that they had absolutely no intention of helping me. All the while, they are saying that my house note payments are late, and banging on my credit. I did not miss any notes after that. I never could get my 'relationship manager' on the phone. It was always 'oh anyone can help you'. I guess that is true when the company is full of grifting shysters drawing a check. I am still being told, "We want to help you, and we do not want your house." BLAH. BLAH. BLAH.
After two years, and a credit rating so low, I could not borrow money for a lump of coal, they make their decision. They say now I do not qualify for anything, so they offered me a 'payment plan'. This so called plan doubles my note (which they just raised for 'escrow purposes') and I have to pay it by the 13th of January. But, being helpful, they started the letter with the paperwork to do a short sale. They also based the decision to not let me modify on a salary of zero. I sent them multiple pay stubs. I work. This had to have made an impact on their decision that I should not get a modification.
I immediately emailed them and told them that what they did was ludicrous, and that if I had that much money I would have already paid it off. They act stupid (they are). I get the runaround again. Now I am told I have to either accept the 'payment plan', or I can sell it, or I can keep going like I have and pay the money back (by far the cheapest option, by at least 4000$). Of course, it would have already been paid if I had thousands laying around, which I don't. Then the nice ombudsman tells me that I might qualify for a program they have for people they are making homeless, where they will pay me to get out of my house, if I clean it up for them. I finally asked the ombudsman if she would find it easy to double her house note or rent for an entire year, and not have problems with paying it. She said she did not know why that should matter. Well, because you could find yourself in the same situation I am, that's why.
I have almost had a stroke every time I talk to them. Today was no exception. I do not know how to get away from them. After reading these reviews, even if I find money somewhere to pay the backlog of payments, I am skeptical they will actually apply it in the correct manner to the correct account. I am, in fact, fairly certain they won't. The only option I have is leave, or hope that I can get it early out of my retirement. I am afraid they won't stop though. They seem to always find something that they don't like or that did not fit into their necessary paperwork list.
After two years of them screwing around, my credit barely registers, it is so bad. I will not be able to refinance or use credit for anything, it has taken such a battering. I have absolutely nothing to say about this company that is positive. If your mortgage company sells to them, refinance as fast as you can. RUN. If someone does a class action, count me in. I am sure there is plenty I have not even discovered yet about mine. I may be paying for flood insurance, volcano insurance, and anything else they can dream up. I had to give them one star to do the review. It should have been a negative star. One is too generous.
I am totally drained from this company on all aspects, every time you call it is always something new, so many hands in one account, no good delivery service, you send in what they ask for have confirmation, yet they claim they dont have it. I'm just done, all I want to do is proceed with whatever they are going to do at this point. I get a deputy serving foreclosure letters to me three times a month, yet I have been approved for a deed in lieu, then denied because of paperwork they claim that they did not receive, and have someone who is willing to purchase the home with a realtor who sent in everything on our behalf but yet they need this and that. The company really need to get their business together because this is our livelihood. We already have enough stress dealing with day to day situations.
They were after us to catch up on our mortgage with them! They said they never receive our payment! We sent it a month in advance. So we said we would send another check to them for payment. So we did just that. WTH. They promise they would send the original check back to us. They took both checks when they got it and cashed both checks!!! Which cost us a lot of money!! And made checks bounce on a bunch of bills we owed on. Caused us to finally end up filling bankruptcy. Even after this they would still call and harass me. So I had my attorney send them a letter telling them they were in.
I had a Loan Modification with Wells Fargo. I received a letter on November 28th, Starting December 4th, I'll get transferred to SPS. When I called SPS, asking who transferred my Loan to them. The Customer Service Representative said that they are not allowed to disclose that information to me. To my understanding Wells Fargo, told me that everything will be the same including Tax and Insurance, but the Customer Service Rep. said that it's not included. So why should I pay the amount, that I pay Wells Fargo every month. I don't understand this at all, I believe that SPS is just another collection company, not a mortgage company.
Their staff needs to be better trained to treat paying customers. I had told them about my father that passed away and I was trying to make the payment for my mother so she won't default on her loan. The agent didn't show any sympathy and made it nearly impossible for me to make the payment. Almost to the point they wanted my mother to default so she can foreclose. She has decided to sell the house than to deal with this horrible company.
Transferred to SPS in June, 2018. Sent payment to Citibank, they forwarded and it was applied. Paid July only on time, paid August pmy on time and with an additional principal pmy of $400. Was applied correctly. September a repeat of August. Come October, 2018, sent smart amounts, regular pmt and additional $400 principal. They applied the additional funds to unapplied funds and sent out November statement showing that. I called and they said they didn't know why it was done like that.
Got December statement sent same amounts. Find that they calculated out P&I before correcting the application of $400 to principal. Called them. Asked why. They kept referring to the "system" does it and they have no control. I asked for an amortization schedule, they said it was their policy to not give them on loans that have been modified. But their "system" knows how much P&I to charge monthly. I spoke with a supervisor who also referred to the "system". The system knows how much to charge each month but they can't give me an AM schedule. So I asked if they apply all funds then calculate P&I. They said yes but the system does that. So I said then it's not a fixed P&I loan, it's being treated like a simple interest loan.
That goes against my signed original note and modified note which didn't extend the term but only modified the rate. They have supposedly put a flag on my account to apply addl funds to principal. In no way we're we ever late, no late fees accrued, nothing. This goes against my note agreement and I feel they should be fined if not run out of the Loan servicing business. They have strange policies that charge extra fees because the actual mortgage owner probably doesn't pay them enough to service the loan. Disgusting companies like this are allowed to exist especially after 2008.
I receiving a simple laser printed letter Stating I was to make loan payments to SPS. This appears to be a scam. I owe very little on my home loan. I have requested certified copies of my note. And a official transfer of my loan document. I have made this same request FIVE TIMES in the last 3 months. They have promised to do this FIVE TIMES. How am I to know if this a scam? It must be, and I am making a complaint to the US Consumer Financial Protection Bureau,
My States Attorney General. CRIMINALS!
On December 1, 2018 I received a letter from them stating that Wells Fargo had sold them my mortgage loan and that it was being transferred. The date that it would start December 4, 2018. I would like to know how on earth I wasn’t told about this until three days before it took effect. I recently went through a chapter 13 and a loan modification with Wells Fargo. Went online to find out about this company. There is nothing good online about this company. And a lot of the people that loans were transferred to it is because they did loan modifications. You’re supposed to be protected on your loan modifications. Clearly that’s not the case. The paperwork they send you they do not let you have your property insurance on it nor your property taxes. Everything I’ve read talks about this company is a collection agency it’s not really a mortgage company. Tried calling them and you can’t even get somebody to really talk to you.
I paid off my home mortgage almost five months ago and SPS has screwed up all of the paperwork--the Affidavit of Satisfaction. I still do not have the deed properly recorded in my name. They are tying up the title of my home with their incompetence. When I called them, they had no idea what the status of closure was, were completely clueless that their paperwork had already been rejected by my county, and were unwilling and unable to place more "talent" toward resolving the issue that they alone caused. Very poor company with lack of leadership and integrity. I am very sorry that I have had to deal with such losers.
Our former home loan was purchased by SPS several years after we bought our old house in 2005. I became disabled in 2011 due to sudden medical issues and subsequently lost my job. I spent weeks in and out of the hospital and almost died. Due to this we fell behind on our mortgage payments. In early 2012 I contacted SPS about a loan modification since we were down to one income. When I first spoke to them they seemed understanding and sympathetic. We negotiated a temporary mod for three months to make sure that we could maintain the payments and after the three months was over, as long as we paid on time, they would permanently modify the loan. We were so happy because the mod payments were about $300 less per month than what we had been paying.
We successfully made the payments for three months and were anxiously awaiting the paperwork for the permanent modification. Several months passed and when we finally got the paperwork the new mortgage payment was only $11 less than our original payments. I was devastated and called SPS immediately. I was given the total runaround and told that my husband “made too much money” for a modification. Um, why didn’t they tell me that several months before? Why did they give us hope and let us make the smaller payments for three months if they were just going to deny the mod? They are LIARS!
We ended up selling the house in Dec 2013 in a short sale which took almost a year to get SPS to approve. As of Dec 2018 we still have yet to get any tax documents from SPS regarding the short sale. They claimed they have 5 years to provide this paperwork... Well, it’s been 5 years and I still have no paperwork. If we ever get it I will have to file an amended return for 2013 and pray that we don’t get penalized even though we have had NO control over the situation. I’m still sad about losing our house. I loved my home and my neighborhood very much! SPS ruined our lives!
My recent experience with Select Portfolio Services has been terrible customer service. I mailed payments for two separate accounts along with their individual acct. numbers in the same envelope, both payments were posted to the same account, leaving my second acct with a missed payment for Oct. putting me over 30 days for Nov. 2018. I started receiving daily calls from the collections dept. I informed them I did not missed my Oct. payment and was not 30 days behind. I spoke with 4 customer services reps. who admitted the payment was applied to the wrong account.
I was told the problem would be fixed in 24-48 hrs. As of today 12/1/2018 their error has not be corrected and they had the nerve to report me 30 days late to the credit bureau. The nerve of them! It was their error and I am paying for it. After reading the previous complaints their practices have to be illegal. They have been giving me the runaround everyone in customer service and the issue still exist. I would not recommend this company to anyone.
This company got my mortgage loan from my original bank and they have been a nightmare to work with. I missed 1 month on my house payment and the second month they had people at my door showing up telling my son that I needed to contact them. When my son told them he would give me the message they started taking pictures of my house and then walked to the back and started taking pictures of my barns. When I contacted them I told them I know what I have to pay and asked them not to be trespassing on my property. The lady on the phone said it was their policy. I said, "Well when you take pictures of my barns and walk onto my property then they will be a different problem." I wish my bank would have never sold them my mortgage.
My loan was transferred last month to SPS, I did not like the sound of the company name (Select Portfolio Servicing). I did some research and it appears to be a clearinghouse for payments and not just mortgage payments. This company seems keen in getting all the money out of you that they can. They charge for payments through their website. They charge for phoning in your payment. It seems that if you allow them to go into your bank account and take the money or pay them through the mail then no fees are charged (unless I misread something). I found numerous complaints on your website about this company so I thought I would add my own. I do have a question: Why is it not possible for consumers to change mortgage service companies when this "service company" is not serving the needs of the consumer?
In 2012 Bank of America requested an assignment of The Deed of Trust for my second mortgage using a MERS Robo Signer (who is fraudulent) and doesn’t exist, Wayne **. I took Bank of America National Associates to Court and won my case. The Superior Court of California demanded Bank of America to remove my EX wife’s name from all paperwork, financial records and loan instruments to include and any and all documents. Two days after the judgement and after the Amended Judgement was récorded, I was info that SPS is now my service provider. There is as no reassignment of Deed listings SPS as a the new trustee or mortgage company.
I am also writing a book about the hardships we are facing today because of the subprime lending disaster. The book is called, Letters of Hardship By Randy **. It’s a collaborative effort as this book is an accounting of the Letters of Hardships that Americans alike had to write when applying for a loan modification. I filed a claim with the Office of the Comptroller of the Currency. Reason being is that SPS says the second mortgage has a zero balance and has been discharged and liquidated, but yet they delay in filling a full reconveyance. I’m wondering if they even have that right? Especially since Bank of America failed to execute on the judges orders to have Bank of America NA remove Jill’s name.
I would give them zero stars!! My mortgage payment service was transferred from my lender to this “Credit Collection company". Yes, happens all the time but they are NOT a bank or a quality mortgage company. They forced placed a flood policy on our home at the price of $2250. When we have never been required to carry flood insurance stating that we were in a Flood Zone A. According to FEMA flood maps and my own personal flood insurance company, who I purchased a plan from for $450 our property is in a Flood Zone C (Less than 1% chance of a flood) and does not require flood insurance. Of course, no one can tell me how they got this information and their employees are rude about it. It is clear their customer "service" is seriously lacking. I will be finding a new lender as soon as possible and I will be complaining to my original mortgage lender!!
This company is nothing but crooked. Had a mortgage through HSBC for years and had no problem, since early 2017 they sold my loan to SPS and the very first month they never credited my payment. Called and got the runaround, I kept paying my payments online and went online today to pay the payment and it wouldn’t let me. It said to call.
I called and the guy on the phone said it just went into foreclosure 2 days ago. I asked why and he said I owed over 10000$ that’s about 12 months of payments, I ask where my payments have been going and he said they were being applied to the same months of 2017 and not 2018. Ask why that was and he said they were never paid. This is a crooked company. Could not get a straight answer from him about anything. So if they want this house it sounds good to me cause I couldn’t sell it if I had to, since my neighbors had moved all I have living around me are druggies now and nothing is being done. So thank you SPS you are doing me a favor.
SPS Servicing started servicing my loan about 5 years now. It's been terrible ever since. I had a 30 year loan and now somehow, they have managed to apply escrow and convert to another home insurance policy which is double of what I had. Now I owe them almost $20,000. I know what they are doing is illegal but don't know who I can turn to.
I contacted SPS customer service on October 18th, 2018 regarding a double payment taking for my mortgage. I was told by the customer service reps. that it would take 24 to 48 hours for the payment to be reversed. As of today, November 2nd, 2018, I have not received a refund. And, when I contacted SPS, I was given different accounts on the status of my refund: a check was mailed to me on October 23, which I have not received yet; a payment has been made directly to my bank account, and again, it still has not been done. I have sent them via fax my bank statement showing that no payment/refund was made. Meanwhile, my bank is charging $33.00 a transaction for NSF.
Like many other listed, I'm looking for a class action suit and or resolution to move my mortgage away from SPS. My Condo Loan was sold by Bank Of America whom I was with for 12 plus years. SPS added Flood Insurance stating I was in AE flood zone. Liberty Mutual who handles all my insurance home and auto would not cover me 'cause they couldn't identify my property in AE flood zone. When I asked SPS for a declaration letter they repeatedly sent me my flood policy after 2 yrs and hurricane Irma that went through S.C. Liberty Mutual would finally recognize my home as in a flood zone borderline. I've paid SPS for 2 yrs for 3,000.00 flood policy same coverage with Liberty Mutual 675.00 yr. I also asked SPS to either refinance my loan or see if I qualify for HARP loan. They're a mortgage Co that does neither HARP Loans or Refinances...
My mortgage was just transferred to Select Portfolio the middle of Oct. I had already sent in my October payment but was returned by the previous mortgage company. The first notification that the mortgage was transferring was when my bank got the check back. On the 25th of Oct I called SPS and was informed I would be getting a new statement not to worry. I could just pay Oct and Nov payment together. Well after getting this reassurance I have received at least 4 phone calls wanting to know "where my October payment is. And when can I make the payment, when do you think you'll send the late payment."
Plus rudely informed "you know you still owe it." By law I have 60 days before its late and fees are applied when a mortgage is transferred. It’s not even November!!! So collections and customer service I guess don’t communicate. By the way my mortgage is current, so no short sale or foreclosure in the works. I am hoping SPS does not screw that up.
I'm yet another home owner that started w/ ING, then went to Capital One & now SPS took over my mortgage in August. They are demanding I add Flood Insurance to a property that is not in a Flood Zone. They "claim" they have a flood map that shows we are, but refuse to give me a copy of it. I provided them with a Flood Elevation Certificate that shows we are not in a Flood Zone. They "claim" to have a certificate that states we are, but refuse to give it to me. I am beyond frustrated with these people. We've never had a problem in 14-years of owning this home until SPS took it over. HORRIBLE, HORRIBLE company!!!
This is so beyond ridiculous, they must be doing it on purpose. Today I get a phone call from SPS telling me that they've reversed my 100,000 payment to them. They're giving me my money back!! I'm trying to pay off the mortgage to this absolutely horrible company, and they continue rejecting my payments. Apparently they're trying to keep me tied to them...not gonna happen. Total of $135,000 that they've screwed up of mine already (multiple times), probably in order to charge additional interest on my loan. Has anyone ever heard of a company that won't accept your payments? And this company is actually a collection agency that purchased mortgages from Capital One. Spoke to my lawyer today, he will be getting involved next week, and after reading all of the complaints, he will be researching a class action suit against them. Hopefully put them out of business!!!
SPS took over my mortgage from CitiMortgage on July 12th. I received nothing until August. I created my account on 8/3 and logged in to pay July and August. Worst internet experience ever, I would have to say. It would only let me pay one month. I logged in later in August and it said I owe nothing. I logged in in September and it said I owed one month. I paid that. No statements online were available at that point. I chalked all this up to a rough start. I log in October and it tells me I owe $4k and am delinquent now. What?? Every time I logged in I paid what I owed, which is $2k.
Then, the second they tell me I owe $4k, fine you got your bearings together, I paid. I had good credit. They destroyed it saying I was delinquent 30 days 3 times. This was categorically false. I'm furious. I called them and go nowhere. I'll be retaining counsel to get them to get that mark off of my credit. This company is HORRIBLE. If you end up getting your loan sold to them refinance as fast as you can. Not only are they terrible, but they charge you $15 for paying online. Ridiculous!!!
First read my previous review, this is the continuation. So I still haven't gotten my $35,000 insurance check that was just supposed to be endorsed by SPS and then sent to me. They have record that they received it, but have no idea where it is. Now they tell me I need to call my insurance company and have a new check issued. THEN I can start the whole process again and hope that SPS doesn't screw up yet again!!! This is beyond ridiculous, they keep screwing up and I need to keep cleaning up their mess.
I'm another one who started with ING, then Capital One, and as of September I was switched to SPS. Horrible!!! First thing I had a problem with was my interest rate. It went from 2.6 to 5.25, so I called. Their response was "we can do nothing about it, we are just a servicing company", I spoke to several customer service reps and managers, all with the same answer, so who can help me? There was no way I was going to pay that rate when my credit score is over 800. So I figure I'll just pay off my mortgage (yes, I'm lucky enough to be able to do that), but first I needed to take care of an insurance check that I had just received made out to me and SPS. So I call to let them know that I am endorsing and sending an insurance check to them in the amount of $35,000, which I asked them to simply apply towards the mortgage.
Apparently that's too easy, so they say they need to first receive the check, then make sure the house was repaired, then they would endorse it and send it back to me... so that I can send it back to them. I called them today, and they said the check was mailed back out to me over 2 weeks ago, they said it can take up to 3 weeks!! I ask if the check is being mailed from China? They assure me that it's normal for regular mail to take up to 3 weeks from within the US. I laughed and told the woman she was an idiot, and then I hung up, realizing she was totally useless. So, instead of waiting for the check, I decide I will pay off half my mortgage for now, then when my check comes in I will pay off the remainder.
So I paid them $99,999 (they're max online). I check my account in a few days, they show that it was received, but was not applied to my mortgage. So I asked what they did with it, their answer was "it's probably in limbo somewhere, I'll see what I can do. Please call back in 2 weeks." Again, WHAT!!! So now, they have $135,000 of my money somewhere??? Is this company for real?
Select Portfolio Servicing Company Information
- Company Name:
- Select Portfolio Servicing