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Our mortgage was sold to SPS by Chase about 5 yrs ago — we were in process of modifying our loan then — had to start over — fast forward to 2017, still no modification - requesting docs we’d already sent; husband moved out but assured me he’d cont. with mod etc., November 2017 got served w/ notice of foreclosure for 12/5/17 so when I called SPS to ask about options they were rude, asked why we were separated (as if it’s their business) & told me there was nothing I could do to stop foreclosure. Told me they usually give owners 39 days to vacate — never got any correspondence related to when I had to be out. Sat on my porch that morning while they auctioned it off — seemed to jeer & laugh at me too.
Rec’d letter from new property management co; spoke to a very nice person who said she would look into assistance options (cash for keys, relocation assistance, option to stay as a rent paying tenant, etc.,) When I followed up w/ her she told me the ‘bank’ asked her to send the file back to them & she was unsure why they requested it. She gave me the # for SOS’s ‘relocation assistance’ department to get help —have called repeatedly (daily & at various times of day because they’re in Utah & I’m in New England & I’m on hold for 2 minutes and then am disconnected.
Now I’ve been served with papers to appear in court next week for an ‘eviction hearing’! Unbelievable! I have a 19 yo child with autism at home w/ a caregiver while I’m working — tried explaining this to SPS & they basically said they didn’t give a ** — cross your fingers for me next week... I continue to call each day (recording dates & times) but to no avail. This is a sick & twisted company we are dealing with — based on all the complaints I’ve read so far. We all need to band together with a class action suit against SPS & their deceptive practices. Count me in if this comes to fruition!
They would not work with me at all! My husband lost his job, he made 75% of our income. They claimed we didn't qualify. They offered to DOUBLE my payment!! They also refused to sign insurance check for hail damage. The check was for 7 thousand. That was only the first half, the insurance company would pay the second half when we showed a work order. SPS told me I had to pay out of pocket, prove to them the work was done, then they would sign the check. The insurance company sent two more checks after those expired. Same result. So they were complicit in my home falling further into disrepair.
A couple of months ago my mortgage company sent us a letter telling us our account was going to be handled by a company called SPS select portfolio servicing. What they did not tell us is that SPS is a collection agency. SPS did not identify themselves as this type of company either. In effect this makes it next to impossible to refinance your mortgage.
Working to sell the property with a short sale with SPS is next to impossible. I'm losing sale opportunities because they keep "reviewing" the documents, and then telling us (realtor, and myself) that they are incomplete, been over 2 months and now we are waiting 30 more days while SPS reviews offer. We've done everything they asked us to. I'm at the end of my rope. I feel like they are trying to sabotage this sale.
This company will not work with the homeowner, and everything they do, is to benefit them only. They have received money from the feds to assist families having a difficult time financially, and they did not hold up their end of the deal. Look at the rating and customer feedback, that says it all. Time for a class action lawsuit.
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Flood Insurance-? Why wouldn’t you send **certified mail** or call me over such an important issue? You can sure give us a phone call (or 12) when we are late on a payment. Prior to the 2013 FEMA changes… We were in zone AE which is considered- “extremely high risk”. FEMA then decides to change the map to accommodate the Grant Road Construction Project, and backs up the NEW flood line to my neighbors' property across the street. So I go from a “extreme flood risk” to “minimal flood risk?” Overnight? Did SPS bother looking at the new map? If you would have told us about it we could have done some investigating. I wouldn’t have taken that chance by not renewing our flood insurance. Especially with a PRIOR FLOOD CLAIM on record! Do you trust the government?
Homeowners Insurance-? You sent me **certified mail** to request verification of Hazard Insurance…? As you can see, by the documentation that I have provided, you get my renewal notices annually just like I do. But yet you are going to charge me $197 more? Also, my 2017 mortgage interest statement says that I paid $6,325.00 for hazard insurance? I’ve had Cypress Texas Lloyd’s since August of 2006. You sent me **certified mail** for this but not MY flood insurance policy?
When I first applied for help after Hurricane Harvey, you immediately granted me 3 months of no payment. You said that if I needed more help, to be sure to contact you by December 1st. We did. You granted us an additional 30 days and said…"if you need more help, let us know." On January 10, 2018- SPS says -“We're here to help you!” I once again, complete the same paperwork and then decline me for every single option available. Then says the reason is “not in the best ‘business interest’ of the investor.”
This is an emergency Sir or Ma'am!! You have the authority to bend the rules, but you send me to Advocacy instead? This is not because I can’t pay my bills on time! I have been asking for your help for months. I have $80,000 -/+ of repairs left and I have asked you for January 2018 and February 2018. (It would be a total of 6 months.) If we don’t qualify for another deferral then please can we get another forbearance plan? I need these additional two months of funds, specifically for construction. I am currently washing my dishes upstairs in my bathtub. I have attached the first Forbearance Plan for September, October and November 2017. I want another one just like it for December 2017, January 2018 and February 2018.
I have had the pleasure of speaking with a few other SPS customers that have been, and are currently going through, a disaster recovery. They are very helpful and are eager to discuss their options also. This was a natural disaster. This was not my fault. It is also not my fault that I did not receive your paperwork regarding the flood insurance. SPS could have made a better attempt to contact me regarding this extremely serious situation. I have attached pictures of the damages of the home and the progress being made.
SPS has not sent out an inspector to assess the damages because an insurance claim has not been made. This has been of complete and total destruction. Because there isn’t any insurance money involved here, it’s not SPS's problem. They would like me to default and take my home (or in this case, what’s left of it) and flip a buck. That’s what’s in their best business interests. If this is not true, then work with me please. You asked me how much time I needed, I told you until March 1st 2018. In good faith, I have made my March payment on-time and I am about to make my April's payment on-time. I would appreciate some additional assistance getting through this natural disaster.
I'm finding more and more people like me, when facing SPS Portfolio Servicing. They have the worst customer service for a financial institution that I have ever seen! Antiquated computer systems are to MAKE SURE that you have the most difficult time with any of their systems! It takes them 14 days to process an online payment, just to find out that the bank account was in error. I mean, this is a simple mistake that most websites can find within 5 minutes of running the data. However, SPS uses tactics like these to make sure that you are late on your payment so they can assess fees. They make sure that the blame is solely on the customers. The same customers who are using their services, reluctantly I might add. This company has so many bad reviews, it is AMAZING how the government has not stepped in to help with their hard-working citizens. These types of companies exist only to make people's lives worse and try to scam you into default and paying extra fees.
We need to shut this company down! Multiple employees at the company are incompetent and they do not know how to work together within their own divisions. Their supervisor is someone who tries to strictly follow policy, but cannot give critical answers to save her life if it came down to it. Just a horrible company from the top down.
Let's see. No one can help with problem from one issues to another... THE WORST OF THE WORST, Hurry up and wait. Very unhappy. 1.5 years holding for a claim check. Lots and lots of hold time and a TON of different customer service rep that most DON'T TALK English.
I had multiple offers on my short sale for my home, each offer was declined due to SPS. Finally, one the home went to foreclosure and even leading up to the auction, I called them every day encouraging them to accept the last offer. They stated that the offer was under review, but would take 10 days to complete, which was after the auction date that was set. One of the offers that fell through is now suing me because they did not get the house and we would not sign a cancellation notice that would allow them to come back for damages. Well they are still suing and all because of SPS. Wish I could give something less than one star.
When I bought my home 15 years ago, my monthly mortgage payment was $900. The mortgage has been sold to a different company about 3 times since then. It is now with SPS Mortgage. My payment has now gone up to $1324 per month with each increase claiming to be due to an "escrow shortage." I do not believe that can possibly be true. None of my neighbors have had their mortgages increase this much. It seems to be gouging to me.
I was lied to and misled, while trying to satisfy them with requested paperwork, critical time was passing by while they were lying about working to modify my loan, only to find out they had no intention on approving me.
I was approved for a loan modification in 2013 with Chase Bank. After making two trial offer payments they transferred my loan to SPS. I made my 3rd payment with SPS (on time mind you) and NEVER received final docs to sign. SPS claims they sent the docs to the address they had on file from Chase. I spoke with Chase Executive Offices and they are HOT! The liaison between the two companies is getting involved because I have been fighting like hell to save this property for the past 4 years!
Yes, for 4 years I have speaking to the call center in Utah and THEY ARE NO HELP AT ALL. I have filed 3 complaints with the CFPB and Rueben was the last person in Ombudsman to review the case and he lied to the CFPB regarding Chase and the address they transferred over...so now Chase is pissed and getting involved. Instead of SPS taking responsibility for the inaccuracy of the address they have put a foreclosure sale date on my home. I file a 4th time with the CFPB AND have the Chase liaison on the case in hopes this will do something. In the meantime. I have written a book called the Mortgage Matrix. It tells the truth about what goes on behind the scenes. I went to work at a loan mod company to see what really happens behind the scenes and you will be surprised to know that the reason millions have lost their homes was due to internal errors.
Mishandling of paperwork or disgruntled employees not happy and that didn't feel like working that day. It was a harsh reality. I was there for 1 month long enough to find out that running the unstable online NPV tools and internal errors were the cause of many foreclosures. And don't forget half the employee's speaking to you from Utah don't own homes and they don't care if you have one either!!! (I asked every single one of them I spoke to in 4 years if they were homeowners so I am NOT speculating.) These call center employees are powerless. They cannot assist you with anything other than taking notes on the computer. They claim they will ask their supervisor to assist you, but the SUPERVISOR is powerless also! If you have a major complaint go DIRECTLY TO THE CFPB. The address to send them a letter directly is on their website. Do it before foreclosure happens.
Chase was my Mortgage lender and suddenly I get notified that these guys are handling it. When you call they have a recording that this is an attempt to collect a debt bla bla bla. Very rude in my opinion. I know I have a mortgage payment due and actually paid extra on the principal last month. Even though it was the first month they handled it and I had to find out how to pay. I know (from SPS and Chase that during the transition you have 60 days before they can report you as being late.) I went out of my way to MAKE SURE that it was paid on time (within the 15 day grace period that all mortgage lenders are required to give) and they didn't post it till day 16 BS~~~.
Today I received not one but TWO calls from them asking me to call back someone (could not understand her name or the number speaking too fast) so I called and was told I was late that the payment was due on the first. I explained that I owe about 15% 0f what I could sell the house in a fire sale and that I had a FICO Score of close to 800 and had been paying Chase and every other bill as required. We are in the process of refinancing or if need be paying the loan off from savings. They charge 15 dollars to pay online but nothing to pay by check????
The noodlehead on the phone apparently was not listening as he said "I will note the account that you are sending a check ~~ and you can give me your bank info and we will set up auto payments." No way. I'm refinancing and getting away from SPS. THE WORST HARASSING COMPANY. They can now wait till I refinance. Till they get paid off no more money from me. I paid the property taxes an hour ago so they can do what they like with the escrow acct money. Sad that most people can't do what I can. These people (and Chase) are Nasty. God bless America.
We were behind on our mortgage due to both my husband and I becoming disabled and not being able to work with months of each other. We had major damage for our house from a very bad wind storm and the insurance company sent SPS the check. Because our insurance is escrowed. After getting the estimates the appraiser the adjuster coming and getting all the numbers everything was approved and you trust company sent the SPS the check then they decide when it’s time To release the funds to the contractor. They decided they were going to release the funds until the account was current status.
We went through couple different times of modifications to have and something was going on at the end and has gone into foreclosure so I Hired an Attorney to get this all straightened out everything. Our loan is current so I called today to get him set up for the contractor and you tell me that there’s no money there. They apply that money to our account. That is robbery. They didn’t eat. There has to be something we can get. Anybody knows of anything you can help us out please let me know.
They are not getting away with this. Be found I thought it was under review and then I’m gonna get insurance in the taxi apartment. And then ever in the regular line department I thought a grievance today and told me to listen to on my phone conversations because every time I talk to them during this modification process I mention every time about the fact that we have that money. Nation is your password. You can you have your work done and this is just been off couple weeks and today I found out that there’s nobody there. So if anybody knows anything and we can do please let me know. They have not seen the last of me.
My Mortgage was sold to Select Portfolio Servicing from HSBC about a 18 months ago. Ever since Hurricane Harvey happened last year, I have had problems with this company. I was offered forbearance for 3 months, however I did not take advantage of this because of a balloon payment. I only missed the month of September due to out of pocket expenses I had to pay that the Insurance Company did not pay, not enough money to cover all repairs. I HAVE PAYMENT ARRANGEMENTS FOR THE MONTH THAT I MISSED. I am still being harassed and sent letters every month. Communicating with these people is terrible. These people are heartless. No respect for Seniors.
SPS has been nothing but a nightmare from their first contact until now 02/20/2018. No one there has any answers to problems, it's just one big run-a-round when dealing with them. I have been trying for 11 years!!! To get the right answers and now that I was forced in bankruptcy because they (SPS) foreclosed on a fraudulent and predatory loan I am now going to have to go to a more legal route. They (SPS) just do NOT UNDERSTAND what I am asking or saying. If anyone is still with this company... Get out now or sue them now!!! Protect your house, because they will take it. They manage poorly written loans that they knew were going to go bad and that they would take action on. My fight against them is NOT OVER! Good luck to all involved with these scammers!
I have no idea who owns or works for this company but they are the worst mortgage company that I have ever dealt with. Every time I contact them all I get is a runaround. I'm behind on my mortgage payments and SPS said to contact their law firm. I contacted the law firm and they said to contact SPS. Now one of my sons, who has a learning disability, was handed warrants regarding my mortgage! I'm not sure what to do next but I will do something. THEY ARE THE WORST!!!
Currently working on a short sale with this company. They never give the same information twice. After issuance of a short sale approval letter, they came back asking the owner for a cash contribution of $2500.00 stating the PMI company required it, but here is the catch; there is no PMI company. There is absolutely no part of the monthly payment being applied to a PMI company, hmmm... and when I asked for this information to be provided in writing; it was explained to me that they don't issue this in writing. They need to be investigated, and I will make it my life's work to expose them for what they are and that is FRAUDS, oh, and the icing on the cake; they will offer the owner to sign a promissory note of $4896.00 to be paid over the course of 3 years @ $135.00 per month. This is nearly 50% interest? This is totally unscrupulous!
The history of this loan is it was a Fannie Mae loan, that started with Country Wide Loans, Fannie Mae forced the lender to buy it back, Country Wide went away and Bank of America was the new servicer. Since then it went from Green Tree, that turned into Ditech, and then landed on the desk of SPS Servicing. The owner said that a loan modification is on his credit report, but never requested or asked for a loan modification. I can see on his bank statements that there has been some sort of modification - this too needs to be investigated. My question is; did this company buy this loan for pennies on the dollar? I smell a rat!!! These people need to be exposed!!!
Six years ago, I tried to re-structure my mortgage which was owned by Select Portfolio. It was a year's worth of being stalled, having to re-submit paperwork, and redundant phone calls. I never got consistent answers from any of the staff I spoke to. We wound up losing our home and filing bankruptcy because of this company and its fraud. Steer clear, everyone, if you value your home. Zero stars if the survey would allow it.
This horror of a sorry excuse for a collection company posing as a mortgage company became the service of my loan after a divorce. The original loan servicer was Suntrust Mortgage. This fiasco started in 3/2010, once my husband refused to help pay a loan that was in his name also, this predatory company stepped in like the Anti-Christ. I have had my house on the chopping block 3 times and fought them in bankruptcy with the promise of a modification. I have killed more trees and played the SPS run-around lost the papers game more times than I can count in 8 years.
Now the courts will not even hear of a bankruptcy to save my home although I have income, and own a successful business. I have diligently given SPS every shred of documentation they have asked for including volunteering to drive from MT to Utah to make sure they got what they needed with no more excuses! After hounding the supervisors and everyone else that would listen, I was told that all documents were in and nothing more needed only to be turned down not even a full week later.
It was as if they didn't even take the time to review the documents that I had put my blood, sweat and tears into, after telling me it would take 45 days. The agent just said it was not in their best interest, no other explanation... believe me... I asked for one. I have suffered two head injuries in falls here, stress on top of that and I am not sure now where to turn. I own some cows and this is our home, we have nowhere else to go and no one else to help. Please stop this predatory company, there are so many of us that trusted them and are now suffering with health issues because of their empty promises and unjust business practices. Please help us!
Select Portfolio still continues to call and harass us every day and writing threatening letters and harassing my 76 year old mother who is under the doctor's care and Select Portfolio has almost caused her to have a heart attack. Our house was paid off in February 3, of 2009 and we do have the proof, somebody in that company took a mortgage out in our name and we just recently found this out. Is there someone that can help us with this? We want this stopped. It is nerve-wracking.
My loan was just transferred to SPS Jan. 1 2018 from Chase. The takeover date for loan servicing was Jan 16 2018. My mortgage has been in good standing for more than a decade and is currently up to date. I received two letters (1) from Chase and (1) from SPS notifying me of this out of the blue transfer. Their instructions about where to mail my payment were very specific.. DISCREETLY inserted in my "welcome to SPS" packet was a return envelope and a payment coupon showing my "NEW" account number, but it had a different return address than the mailing address they insisted upon one week earlier.
I called their customer service dept (since I already mailed my payment, in their envelope) and was SCREECHED at by one of the SPS rep's, for not being able to follow instructions. "Why did you do that?" I was repeatedly asked after 20 minutes of being on hold. Fortunately... I photocopied the coupon before I sent it, and mailed everything 2 day certified mail. So they had to sign for it! Having read many of the reviews concerning this corporation I'm not holding out much hope. The good news is that I've been a member the AARP for a while, and if I need to I'll ask for help from our 37 million members.
Chase sold my loan to Select Portfolio Servicing, Inc. in 2014. Ever since then I have been having problems with my mortgage. They are a company out of Utah whom I am not sure if they know California mortgage laws. They are very rude when they talk to you on the phone. Once they even hung up on me because the manager said they were closing and his reps were tired. When they took over my loan I was paying my flood insurance on my own, 2015 I received my paid declaration page from my insurance carrier. I called them and asked who paid my insurance. They replied, "SPS did." I then called SPS mortgage and asked them why did they pay my flood insurance. They stated the laws in Calfornia requires them to pay my flood insurance from my escrow account even though paying it shorten my escrow balance.
2016 I received a notice stating they added very expensive flood insurance to my loan even though they had already paid flood insurance through my escrow account. I called and the people on the phone insisted it wasn't paid and they were going to leave the enforced insurance. I had to called my insurance company, explain to them what was happening and ask them to help me. Eventually Allstate helped me to resolved the problem. Recently I received a notice that my flood insurance was not paid. I really thought it was a mistake until SPS Mortgage sent me a letter stating I have no insurance so they were adding their expensive insurance to my loan again. I almost passed out. I 'm thinking this just can't be. They told me not to pay it. That it's part of my escrow account yet when I called the uncaring guy on the phone just said he didn't see where it was part of my escrow account and they didn't budget it into my escrow.
They got me now, I have to find money somewhere to purchase flood insurance or have mine reinstated so I won't have to take their expensive coverage. This is going to ruin my grandkids Christmas and something tells me they are going to do this again. The only way to make them stop is to walk away from my home. What a horrible company. My normal cost for my flood insurance is $500 a year because SPS never paid or notified me they were not paying my insurance and let it lapse. They stated this allowed them to enforced theirs at cost of $1500 to my mortgage. I Did renew my flood insurance recently but SPS refused to remove their policy and stated it will stay enforced until 01/28/2018 and is charging me $314 for the temporary cost.
My mortgage was sold to Select Portfolio Servicing last June by Bank of America without my knowledge. Hurricane Irma hit Florida in September 2017. My house was damaged inside & out. Water came in from the windows & floor, roof was damaged. My pool screen & air conditioner unit was totally destroy. I have damaged inside my garage, master bedroom & guest-room water was coming from the roof. I had to hire a water restoration company to remove the walls, carpet, ceiling. My insurance company adjuster came out, saw everything, did his part. Checks were send to me with my name & this TERRIBLE company name (Select Portfolio Servicing). I was told to go ahead pay for new air conditioner unit since I live in Florida & it was VERY HOT! I paid with a credit card. A lien was placed on my house by the water restoration for not getting pay. I had to pay them with my own money plus my credit card interest is building up.
I have spoken with over 20 different representatives from this company & no one has a clue how to do their damn job. They keep on asking for the same paperwork every single time I speak to them. At 1 point a representative was going to send me back my deductible. They are incapable. Every time I speak to them my blood pressure keeps on escalating.
They have even send out their own adjuster. STILL AFTER 4 MONTHS I’M WAITING FOR MY MONEY! That is my money not theirs! My house have no walls. There are holes in my ceiling, my house has a blue tarp on the front of it, pool screen is still damaged so is the roof. Every time it rains water comes in. This is American. Why is this allowed to happen plus they have no problem calling for mortgage payments. I only live in 50% of my beautiful house. Other 50% is unlivable! I’m getting letters from my HOA saying to fix the outside but how can I... when this ** company is holding my checks like it’s their money. I WILL SEE THEM IN COURT NOW! DO NOT TRUST THIS COMPANY!
Even though they obtained a summary judgement of foreclosure in May 2016, SPS refuses to close my account or advise the credit bureau that I no longer owe them anything. The property is a condo in DuPage County, Illinois. I have not lived in the property or paid on the mortgage for 2-3 years.
Select Portfolio... saved our home. We were packing up boxes. They lowered our payment 200$. We have never had one misunderstanding with them. Recently we received a check from them... because our escrow was over. They have always been polite and helpful.
In 2004 I took out an equity line of credit loan on my house. The original loan was sold to HSBC and just recently to Select Portfolio Servicing. I wasn’t very fond of HSBC but now I am very displeased with Select!! They now claim that I have an ARM but for the past 18 years I have paid an interest rate of 8.25 %. My rate now is going up by the month! None of what I paid for the past 18 years has gone to the principal! It’s like I’m being held hostage!! I want to get out from under this! Anyone have any suggestions?
First I received a letter stating the account had been charged off, a week later a letter stating it wasn't. Secondly, I went to apply for a modification and when I checked the status, a modification program had already been completed a week earlier, though I never initiated and never agreed to. Had I not gone back in to check on my status, I would have never known there was a modification plan in place. When I called the rep told me this must have been in place with the previous servicer (though I have no recollection) and I was lucky to have it. Only a guess on his part and he could not tell me why the charge off status to not charged off was a mistake, just that it was. It all smells fishy.
Every month SPS charges $150 for "other fees". The explanation of other fees is nebulous. In fact, other fees are unexplained... other than an obvious answer consisting of "other fees are other fees we paid." They don't tell you what those fees are. I don't have an other fee debt. The other fee is nothing more than corrupt workers or managers banking $150 a month from me and probably 10,000 other people. I am grateful to have saved my property through a HARP. It was problematic because they refused to accept payments.
I was 7k behind they wouldn't take it and said I owed 9k. The next month I tried to pay 9k they wouldn't take it and said I owed 11k. Eventually I asked when they were going to put a for sale sign on my lawn and they offered a HARP. I give them 5 stars on the payment amount. I also give customer service representatives 5 stars. I've never had a phone problem, I've always been courteous on the phone and they in turn have been professional. That said, one day I can vision some executive being walked out the front door wearing handcuffs and being photographed by media. I also see a massive class action lawsuit from customers paying fees so a billionaire can play on a yacht.
My family's house was damaged by Hurricane Irma. Once we finally received the insurance money we had to send it to our mortgage company Select Portfolio Services (SPS). It has been over a month since SPS deposited our check into their account and we are still fighting with them to get the money sent back to us so we can continue repairs on our house. I have spoke to someone at this company almost every day and each time I've been told a different story. This company is holding money that is owed to us and they are using our money for their gain. How can this be happening???
Select Portfolio Servicing Company Information
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- Select Portfolio Servicing