Compiled from Public Data by FairShake
The US government’s Consumer Financial Protection Bureau (CFPB) collects complaints against financial companies.
In 2021, the CFPB received 1302 complaints against SPS. SPS ranked Number 41 among all financial companies for the most complaints.
Date of Complaint: June 1, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: AZ
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Struggling to pay mortgage
Full Complaint:
SPS approved me for a COVID-19 Deferral of your outstanding payments outlined in the the COVID-19 Deferral Confirmation Notice sent to me on XX/XX/2021. SPS offered an 11-month Deferral Plan.
Due to ongoing hardship caused by the Covid-19 Pandemic I requested and request an extension of the forbearance plan I was enrolled in mandated in the FHA, XX/XX/2021 Mortgage Letter XXXX.
SPS ignored my requests in violation of White House Rules necessitated by the Covid-19 National Emergency. SPS needs to enrol me in the extension and remove the delinquencies from my account.
SPS failure to allow me the relief mandated by the White House and FHA has caused me XXXX XXXX and exacerbated my XXXX XXXX.
Complaint Tags: Older American
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 2, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: NY
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Complaint Tags: Older American
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 1, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: CA
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Struggling to pay mortgage
Full Complaint:
I was recently granted a loan modification. I just finished with the trial period and received the details of the loan modification agreement. First my interest rate remained at 6.25 %. But even more egregious was the fact that they are charging interest on an advance of {00.00}. In the end, my monthly payments are about {0.00} more than I was originally paying prior to the modification.
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 1, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: CA
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 2, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Information belongs to someone else
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 2, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: TN
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 1, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: OK
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Struggling to pay mortgage
Full Complaint:
After years of SPS telling me that XXXX XXXX is the Trustee on my loan and XXXX XXXX telling me they are not the owner of my loan, my attorney received a notice in the mail stating there is no trustee of record listed and the supposed foreclosing lender is XXXX XXXX XXXX XXXX. However, in XXXX SPS and their attorney published something in the assessor ‘s office with a handwritten document that XXXX XXXX is the trustee on my property. We have asked for a copy of the title to my home. And have yet to receive it. The only thing I have received from SPS is a letter stating XXXX XXXX is the trustee. How can they foreclose on my home without the title? It was supposedly assigned from XXXX to XXXX XXXX in XXXX, but against Oklahoma law that states it should be filed within 6 months of assignment, but this was 2 years. They are set to sell my home in 2 weeks, and I have nowhere to go! I am a single mom of 3 and have been in my home for 15+ years. SPS will not stop until they get money or get my home. I will be homeless.
Complaint Tags: Servicemember
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 2, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: MD
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 1, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: NY
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Full Complaint:
In XXXX of 2020 I was put on a trail payment program. I made 3 payments and the bank kept my money. They denied the loan modification and never refunded my payments. Now they want to take away my home. How could they foreclose while collecting and keeping my payments I believe that is illegal.
See attached proof that payments were received from the bank and their attorney.
Complaint Tags: Older American
Response Type: Closed with explanation
Public Response:
Company believes it acted appropriately as authorized by contract or law
Date of Complaint: June 2, 2021
Company Official Name: SELECT PORTFOLIO SERVICING, INC.
State: CA
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Complaint Tags: Servicemember
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.