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Select Portfolio bought our second mortgage in 2017. They forced placed a flood policy on our home when we already had flood insurance through our first mortgage. I sent them my dec page which continues to be lost. They bought a book of business that they can't manage.
My mortgage was sold to this Credit Collection company. They are NOT a bank or a quality mortgage company. The employees are undereducated, underpaid and full of attitude. Regardless of the question, their answer is typically 'they cant.' They cannot mail anything, they dont do email. THEY USE YOUR COMPLETE SOCIAL SECURITY NUMBER AS THE TEMPORARY PASSWORD!! Putting this highly personal information permanently into the internet to be easily hacked. I continue to be dismayed with the lowering bar of service or quality. As a mortgage company they suck.
We were advised on in June by a letter dated June 14th, 2018 that CitiMortgage transferred our Servicing to this company. We sent a payment on June 25th to the new payment address with all the specifics on loan number etc. in the amount of $1,565.00 which included extra principal. They still haven’t credited this to our account. I have called twice and the personnel is not helpful or friendly. They could care less. They keep telling me to call back to check if received and is due to not being set up when received it... Have been getting the runaround. They advised me they have 60 days to straighten this out and will credit interest accordingly. Based on her attitude, I doubt you can believe them. Never have I talked with a Servicing company and had such apathetic treatment. Can’t believe CitiMortgage transferred our loan to such an unreliable and questionable company.
My mortgage was sold to SPS in 2004 without my knowledge or consent and I owe more now than when I first bought my home 25 years ago. I think after reading all the reviews we all need collectively sue this company for Predatory lending practices. How can we do this?
Our insurance company sent me a check to cover roof replacement. Select Portfolio Servicing requires their name on the check, so I had to send it to them for endorsement. They stated there was a two day turn around time, and stated that it would be faster if I send them a pre-paid USPS priority envelope. I sent the envelope along with the check. They received the check two days later. I was told two days ago that the check was in the mail returned to me, however, the post office has not received it according to the tracking number. SPS will not return my queries and now I am delayed in getting my roof replaced. It is clear their customer "service" is seriously lacking. They are, in short, liars.
Updated on 07/09/2018: Last week I complained about the delay and receiving an insurance check that was to be endorsed by Select Portfolio Servicing. I did finally received it. However, today (July 9, 2018) I received a call from man at SPS who started by saying he was from SPS and this was an attempt to collect a debt. I told him I am not behind on my payments and what was this call about. He then said he was recording the call and wanted to make sure I got the check and then asked to update my personal information, which he already had... I gave him nothing new. This company rates an "F" in customer service. I felt his call was an attempt at intimidation for making a complaint against that company.
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The 1st check we received from the insurance we sent to SPS and then they sent it to a third party company called Insuranceclaimcheck.com. You send all the paperwork to them in order to get any of your money. Now that I have a second insurance check I don't understand why we have to send it to them again just to send it to the third party. This is going to take weeks. I just got my roof put on back in April 2018. Now we are in hurricane season again and we can't even get the inside of the fix.
This company is just absolutely the WORST I've ever dealt with in my 55 years!!! I had a mod with my prior company. Loan sold to another company whom they would never disclose to me. They said they are not offering a modification and I would have to reapply. I've sent in all the paperwork - wait for a response, then they tell me I'm missing something which I already sent.
Now the process begins all over again. They put me through this for months and months and finally said the "investor does not participate in modifications." After the late payments, it was impossible to refinance. Finally, I borrowed from my 401k to pay the arrears. Now I'm trying to get back on track and refinance again with someone else and then surely I will bring suit against them. This entire process was an horrific nightmare and a consumer disaster. Class Action Suit anyone? Surely I'm not the only one who has grounds. This horrible company should be investigate and their victims compensated.
I have the same problem as some of the other reviewers. It has been almost 9 months and we are still in our loan mod process. No one knows what the left from the right hand. I'll get a call saying they need more bank statements and then they keep requesting for the same bank statement and said one week that it was in underwriting and then the next week they say we need another bank statement. They only ask for 2 recent but they have asked for 4 of mine. While in the mod process they said that they would not do a foreclosure and that it is in status but that there was no date set. Well that was wrong. Just got a foreclosure date even though we are in a mod status. They said, "Oh don't worry. They will prolong as long as it's in a mod status." Also we claimed BK and it said that our debts have been discharged in the BK. We get statements. They say that it is not an attempt to collect a debt. So we are so confused.
I have to be honest, I have read these reviews a couple times and though this process with SPS has been long and drawn out, I thought eventually I would be different and leave a different review. Well, SPS has proven all of you right and me wrong. We received an excellent offer on our home, $13,000 less then what we owe and above what it was appraised at. I also received in a very timely manner, a release of a federal tax lien on the property, which was forwarded to SPS as well. That release has now expired and we are still going back and forth with SPS on changing the HUD-1 to how they want it to read.
We have passed our first tentative closing date and are now nearing the end of the purchase contract and I doubt the buyers are going to stick around. I have done my diligence and gotten them everything they have asked for within 1 day and we are still playing games. Then I get different and incorrect answers from their agents when I call to check on status! This has been an emotional nightmare and I am wondering why we even bothered with trying to do a short sale rather than just letting this property go, as it looks like that is what is going to happen in the end anyways. When our contract date comes and goes, I don't think I can start this over with SPS and deal with all of this again. I would love to hear if anyone has anything good to say about this process with this company to keep my hope alive, and I will update this, but the outlook right now is horrible.
I have been trying to do a short sale for a client for almost a year. I'm done. I priced the home where the bank told me to - full price offer in January - they are still reviewing, they need this, they need that... Weekly phone calls to SP Servicing and always something new they need - no one knows what other people are doing on this account. No communication. Today I called, "Oh your client's property is not in short sale anymore - your paperwork is expired." WHO'S FAULT IS THAT??? The incompetence, hatefulness, derogatory statements to me and my client - after 15 years in real estate never have I worked with anyone or any company like this. I am done.
I have advised my client to obtain a lawyer. We are contacting a consumer advocacy attorney. I have turned them into the Attorney General. I have been contacted by several people in regards to a class action suit - I'm giving all my documentation to my client and strongly encouraging him to join. I'm on the computer a lot. I have a lot of followers. They will hear about this and I will encourage them to share and share often. Good luck to anyone needs loan assistance from them. Don't try a short sale. Don't try a deed in lieu. Either let the property go or contact a lawyer.
This is simply CRAZY!!! WHY would ANY Homeowner Financing Company put BALLOON PAYMENTS at the end of your Home Loans? Unless, it's to have you pay your mortgage each month and then send you a BALLOON PAYMENT BILL at the end. I bought my home with the primary loan for 30 years and a secondary loan for 15 years. Now that my 15 years is up, they send me a BALLOON PAYMENT BILL for over $15,000 dollars and THEY do NOT refinance. And it appears that EVERY loan they do has a balloon payment in the end. I am a disabled vet on a fixed income. BUYER BEWARE...
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.
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.
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