March 2015 Complaints Against SPS

Compiled from Public Data by FairShake

If you have an issue with SPS, you’re not alone.

The US government’s Consumer Financial Protection Bureau (CFPB) collects complaints against financial companies.

In 2015, the CFPB received 1363 complaints against SPS. SPS ranked Number 21 among all financial companies for the most complaints.


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Complaint Details:

Date of Complaint: March 23, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: CA

Product: Mortgage
Sub-Product: Other mortgage

Issue: Loan modification,collection,foreclosure

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 23, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: FL

Product: Mortgage
Sub-Product: Other mortgage

Issue: Loan modification,collection,foreclosure

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 24, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: FL

Product: Mortgage
Sub-Product: Conventional fixed mortgage

Issue: Application, originator, mortgage broker

Full Complaint:
Dear Consumer Financial Protection Bureau, Thank you for responding.
I am attaching the XXXX XXXX XXXX suit that XXXX XXXX group prepared for us in their findings on our loan history.
They had proved mortgage fraud, but it seems like no one can get anything done in XXXX in behalf of the consumer. Our loan was illegally pushed by XXXX XXXX XXXX. The property appraiser that worked with XXXX XXXX was arrested for over appraising homes, to push and get loans approved for XXXX XXXX. XXXX bought the loan and would never really work with us for a loan remodification they just went through the motions. They had XXXX different offices in XXXX states within XXXX that sent us XXXX sets of fees and tacked them on to our loan creating a bigger mess. When we first applied for a loan remodification the representatives at XXXX financial had said they would work with us. We kept getting request for the same paperwork package three times not realizing that they had XXXX different offices within the same corporation in XXXX different states working on the same loan remodification. After they told us we did not qualify they tacked on all the back fees to our loan from XXXX different applications so it was times XXXX because no one from their company was communicating with anyone else. When I started to complain they sold us to XXXX. We found it so frustrating and wondered how they could get away with this. My wife XXXX and I then tried through the XXXX XXXX XXXX to get help out of XXXX, to see if through them, we could get results. In the beginning they put us through the process of applying for the loan remodification. When the XXXX XXXX group pressed they sold us again to SPS who decided to tenaciously hold ground and not help us. We found out later that XXXX owns both XXXX and SPS, How convenient. After XXXX XXXX XXXX proved Mortgage fraud committed by the banks which I have sent the prepared custom Lawsuit in an attachment to you XXXX XXXX XXXX gave up and said that because the Banks were not cooperating the only alternative was to sue. Since all this we had to pay back all fees and try to catch up the loan so as to avoid foreclosure.
The banks are playing games with the consumer and the Federal Government and we are desperate to get help. If we had not been granted the refinance on our home loan that XXXX XXXX wined and dined us to process and get us to sign for, we would be only a year and a half from our loan being paid off. We felt stupid that we let the mortgage loan officers from XXXX talk us into thinking this was the right decision for us.

Again thank you so much for even just a response.

Please help us, XXXX XXXX XXXX XXXX.
XXXX XXXX XXXX

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 25, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: TX

Product: Mortgage
Sub-Product: Other mortgage

Issue: Loan servicing, payments, escrow account

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 24, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: CA

Product: Mortgage
Sub-Product: Other mortgage

Issue: Other

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 25, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: OH

Product: Mortgage
Sub-Product: Conventional fixed mortgage

Issue: Loan servicing, payments, escrow account

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 25, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: FL

Product: Mortgage
Sub-Product: FHA mortgage

Issue: Loan modification,collection,foreclosure

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 25, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: NJ

Product: Mortgage
Sub-Product: Other mortgage

Issue: Loan modification,collection,foreclosure

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 25, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: CA

Product: Mortgage
Sub-Product: Other mortgage

Issue: Application, originator, mortgage broker

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


Complaint Details:

Date of Complaint: March 24, 2015

Company Official Name: SELECT PORTFOLIO SERVICING, INC.

State: CA

Product: Mortgage
Sub-Product: Conventional adjustable mortgage (ARM)

Issue: Loan servicing, payments, escrow account

Full Complaint:
This company, Select Portfolio Servicing , Inc ( SPS ) is a mortgage loan servicer.
The company calls our phone number, a cell phone as early as XXXX in the morning repeatedly. We have asked them to stop XXXX times. We have been patenbtly clear they are calling early.
They claim since the phone they ‘re calling has a XXXX area code ( time-zone difference ) they do not have to stop. Even though all our account information including the mortgage property address is in California and always has been. On occasion they apologize and say they ‘ll resolve the issue. They do not/have not resolved it. Occasionally SPS is combative and claim no responsibility to solve the problem.
We need to communicate on that phone but not before XXXX.

Company response:

Response Type: Closed with explanation

Public Response:
Company believes it acted appropriately as authorized by contract or law


FairShake accessed this complaint from the public archives of the Consumer Financial Protection Bureau (CFPB). You can file your own complaint with the CFPB here.

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