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I know theres a lot of us out there that, sadly, have experienced the same thing. My home burned 3-16-16. Once they saw we were trying to refinance our loan they changed our status at the Tax Office to say we already had it as an Equity Loan. I send SPS a check on the 1st of the month every month. People; Product; Insights; Search . They also said because they are not a bank I cannot do a loan modification. America mourns for Her people. Select Portfolio Servicing - Extortionists Resolved Select Portfolio Servicing - Dishonest/deceptive practice Resolved Select Portfolio Servicing - Foreclosure Resolved Select Portfolio Servicing - Fraud Resolved Select Portfolio Servicing - Unauthorized billing Resolved Select Portfolio Servicing - mortgage If you answer is YES for anyone of the questions, sadly, you were duped, fooled and deceptively mislead. For them to do so is FRAUD and they can be sued for it!! At the maturation of the mortgage in 2036, I will essentially owe about 70% of refinanced amount under the HARP modification. Then requested a Proof of Occupancy. Box 65250, Salt Lake City, UT 84165-0250 Account Payment Attn: Remittance Processing, P.O. Then they try to foreclose on your home you have been in for years and you try to work with them on different options to no avail. Due to their overall incompetence and in particular, their incredible ability to lose documents, we lost our home and so much more. As of February 29, 2020, SLS serviced a portfolio of mortgage loans worth about $112.69 billion. This company sets people up for failure! Amen! *If you. Instead they dragged it out for years making it almost impossible to still be eligible as they would not accept any mortgage payments during this whole time. SELECT PORTFOLIO SERVICING, INC Complaints by Product Latest Complaints 2019-12-04 Countyline, NC Trouble during payment process Mortgage: Conventional home mortgage Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation Timely Response 2019-12-03 Marlboro, MD Struggling to pay . Yet loan sold again but no proof of ownership! 1. stating because of lender place insurance. I am very disappointed. 2. that has to be illegal. Select Portfolio has to be the WORST mortgage company ever, Ive been with them for 12 years and only $1200 has gone to principal, in my opinion they are a predator company, looking for gain on the less fortunate. Select portfolio servicing has from day one used deceptive tactics , fake assignments and denial to access our account to be forced into foreclosure. After you send a pile of paperwork, they start sending you a pile of generic letters stating the same thing. This field is for validation purposes and should be left unchanged. I dont understand how that helps me when I used the money to fix my property, so where do they think I have the balloon payment they are requesting. Acting as intermediary for the financing of commercial or industrial income-producing real estate by arranging for the transfer of the title, control, and risk of such a real estate project to one or more investors, if the bank holding company and its affiliates do not have an interest in, or participate in managing or developing, a real estate project for which it arranges equity financing, and do not promote or sponsor the development of the property. NOT. I agree, we have dealt with the company for a couple of years and their goal is to have you lose your home so they can make a profit. Lynn, Hello I am in the same boat same story.. I believe they are practicing unfair practices as I dont think they want us to keep the house. The balance indicates we owe more now than when we purchased the property 24 years ago. So, they keep sending threatening letters stating my home will be escalated to foreclosure if I dont make the full payment. Please add me to the class action I have been a victim of their predatory lending and I have also had issues getting a loan modification due to their ineptness, constant lying, continuous over burdensome confusing repeated letter. For each and every loan, regardless which the Investor is, YOU are eligible for Principal Forgiveness It is Public Information DOJs website. They tell you they can help with the programs they have. SELECT PORTFOLIO SERVICING Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported Your Search: select portfolio servicing. But in November of that year, Select again tried to collect the mortgage from her. Somebody needs to shut this company down. I would like to know if select portfolio has a class action lawsuit against them for predator loan. Now they are billing me for $3000 in attorney and drive-by fees. The plaintiffs are represented by Philip D. Stern and Andrew T. Thomasson of Stern Thomasson LLP. 559.72(7), 559.72(9). U.S. RMBS Servicers Scrubbing Their Portfolios of Problem Loans. Select Portfolio Servicing, Inc ., D-1-GN-19-001092 (200th Dist. My state recognizes me as the homeowner but SPS keep telling me I have no interest in the house. May 24, 2022) The fact pattern sounds like something out of Gulliver's travels. Everything you State is FACT. They try to scam you on the loan modifications also. Who do I comtact about hidden fees which seem to be made up and 35.00 per month only going towards my mortgage wth, Hello I am in the same boat same story.. Now they raised my online payment fee from $5 to $15 because I will not let them take the money out of my checking account each month! I would also like to have my name added to this. We are paying interest only on like 50k at a 9% and after 30 yrs we owe them 153k wth!! Now SPS is threatening to raise my interest rate to 3% and then 3.75% the next year. We finally gave up and lost our home. Aug 20, 2021 PRINCETON A woman is suing Select Portfolio Servicing for breach of contract, fraud and violations of the West Virginia Consumer Credit and Protection Act. Tip#2 We have refinanced an equity loan which banks do not resell. When I told them to call AHL and figure it out I was told Thats not our job sir. This company for real needs investigated. SPS bonus for liars, cheaters and thieves? I also have Select Portfolio Servicing, Inc. and I been have issues with SPS illegal fees of a Loan Modification because in my situation my principal of my mortgage is $122k (Libro Loan in 2005 with % rate of 8 to 15%) but they added fees and past due payments to $265k and my home is only worth $90k . This case was filed in U.S. District Courts, Florida Southern District Court. However, this can result in some functions no longer being available. They tell you they can help with the programs they have. They are saying the balance is still 52,000. The Judge overseeing this case is Micaela Alvarez. This has to STOP! 2, Report #1408758. It is unbelievable and very stressful to deal with this company. so They passed the HOT POTATOE to U.S.Bank National Association . I could go on for days. SPS PORTFOLIO HAS TO GO!!! They are the worst scum EVER! When trying to speak with someone on the phone, nothing but the runaround and incompetence. The house was left to me in the will and I was his executor. They are violating 12 U.S. Code 2605. I told my daughter that they werent going to help us and they havent! In order to be considered for a deed-in-lieu option, you must provide clear and marketable title and submit a complete application to SPS. IL. They have also upped my escrow account even though my insurance rates and taxes have not gone up. But according . Please go on SM and find a group that will help you! My husband is disabled we are on a tight income. In November 2003, Select Portfolio Servicing then known as Fairbanks Capital agreed to pay $40 million to settle with the FTC and the U.S. Department of Housing and Urban Development. Founded in 1989, SPS is not accredited by the Better Business Bureau and has received hundreds of complaints for billing/collection problems and potential FDCPA violations. They want us weak and worn down! 11:06 AM. Salt Lake City Utah We cant refinance, cant amend the mortgage, etc. My house burned on November 19, 2022 completely and my insurance agent , myself and my sister contacted that company to give the payoff information for my house . According to the complaint, Select Portfolio Servicing has a portfolio of over 33,000 special servicing loans totaling around $4.8 billion. SPS can controls the insurance, they pick the policy, price and force me to buy from only their vendor? History [ edit] Select Portfolio Servicing was created as a Utah company in 1989. Your email address will not be published. All I can say is WOWHELP!!!!!!!!? Select Portfolio Servicing Inc. One Sept 22nd I spoke with a customer service rep about assistance due to Hurricane Irma. According to the complaint, Select Portfolio Servicing has a portfolio of over 33,000 "special servicing" loans totaling around $4.8 billion. Documents indicate that SPS had violated countless Federal Laws, not only consumer laws, but also BK Laws. I sent it to SPS and they told me that they never received the money. We offer a submission form on our website for you to fill out if you are seeking class action legal help. Very unfair practices. I have been required to carry insurance for sps and I have been wrongfully forclosed upon with all the typical bs.from sps. add me please.these jerks keep saying my 2019 taxes arent paid, i have sent them proof 3 times & so has my city/county office, & they still insist they are not paid & raised my mortgage!! Select Portfolio Servicing, Inc. it all happened to us in the end stole our home we worked our entire lives for !! I told them I was going to get a lawyer if they did not refund my $500.00. I was given a fake rate reduction buy select profolio it lasted 8 months long after 8 month long select profolio took the rate reduction back and lie to me me and said i did not complete the paper work i ask then to send me what paper work was missing ,make a long story short every time they send me info about the paper work missing i resend it . yep faraudulent taxes reported my taxes paid in 2017/2018 wrong when i got my end of year totals.. stole my house right out of ch13 which we completed for 5 yrs and lived off only what we me made cash to save our house and in the end the they screwed us anyway and foreclosed n stole our home.. they need to have the riots take over their buildings and b taught a lesson if our own government wont stop this insanity of wolves!!! My house is paid off twice now because of this Fraudulent Company and I am going through the correct channels for the Federal Government to shut this unrated , nonexistent BBB company . Im not the sharpest knife in the droor, but a blind man could smell these SCUM BAGS 2Big2fail ??? Someone PLEASE CONTACT ME. My husband and I broke up and he left the house and it was in foreclosure I paid all the fees I got sick and I went on that HARP program which they said they forgave $12,000. I definitely believe they are fraudulant and they are illegally trying tot take my home. Some choice, huh? S u need to search lawsuits thats all pertain to yourself and stop. to get the check sent in my name only. I sent the payoff check to the company overnight certified mail that cost me $ 420.00+ dollars and that company refused to accept that check until the southern man came out in me. I am so tired of this harassment. Sep 23, 2019 - Loan Servicing Representative . I called AHL and told them to send my escrow account to SPS and they assured me that they had already done that and even sent me a letter saying they transferred it. I wish to contact this lawyer as well I have SPS and theyre Crooks . If anyone can help, please contact me at lynn_sousa@yahoo.com. I need help to gett a loan modification. Dated between 2019-12-06 and 2012-02-28. International Banking CFPB Complaints SELECT PORTFOLIO SERVICING, INC Complaints by Product Latest Complaints 2019-12-04 Countyline, NC Trouble during payment process Mortgage: Conventional home mortgage The house needs lots of work therefore I cannot sell it and SPS will not accept payments but my loan interest continues to accumulate. I have been experiencing difficulties as well. Dr.chayobriggs. They do nothing to help besides deny all allegations, force place insurance and use foreclosure mill attorneys to submit fraud to the courts to steal homes. In August/September 2016 I called SPS before even being billed and was assured by Melinda(?) Luckily sold house day before sheriff sale and still got threatining calls 6 months after sale, stay away from this company if at all possible, I have had it with sps i seriously recommend that we sue sps into foreclosure, I went and got a lawyer to do A DEED IN LIEU so they can have there ELEPHANT AND ALL THE TRIMMINGS THAT GO WITH IT i am finished with these ass-wipes my original mortgage was 63,400 in 2006 and we are in 2018 and i owe 65,300 how in the hell did this happen can someone tell me, You think thats bad? By submitting your comment and contact information, you agree to receive marketing emails from Top Class Actions regarding this and/or similar lawsuits or settlements, and/or to be contacted by an attorney or law firm to discuss the details of your potential case at no charge to you if you qualify. B, UDAAP, FDCPA, to name a few: Countless Letters Internal Communication among employees Letters from other Homeowners which the Mortgage Loan was and is serviced by SPS The letters, emails, the modified payments ALL indicate the Mortgage Servicer has defrauded consumers and the U.S. Other documents, acts and practices, demonstrates the audacious acts the Servicer takes before our judicial system. Debt collection company Select Portfolio Servicing is accused of sending debt collection letters that violate federal law, according to a class action lawsuit. We have filed modification loanpaper refiancing papers and deed of liue and now our short sale was denied. Looking at other comments I dont think they have helped any one. Servicing of mortgage loans and administration of escrow accounts. How do we sign up????? We have refinanced an equity loan which banks do not resell. SPS sluffed this off as so what! Select Portfolio Servicing As an Attorney Advertising Service Select Portfolio Servicing is one of the leading providers of portfolio servicing. We owed 165k and did three trial payments and after 9 months of modification they added 40k to our loan, how is it even possible we now owe 203k with a ballon payment for 30 yrs. Ballooned our loan from $598 to $1250. However, there are several other issues with SPS and would like to file a law suit in US District Federal or would like to get a class.action lawsuit They sell off and buy back your mortgage and you end up owing more than when you started, Can you explain what do you mean. This is not the only recent class action lawsuit against Select Portfolio Servicing. These unlawful deceitful practices must stopId like to join in based on the principle!!! We modified back in 2010 and did 2- three trial payments and some how after it was all said and done they added over 35k in fees and interest, left the same high interest rate plus they put us in a ballon payment. For three years I have been trying to request a modification with them, each time they tell you to send in paperwork. You talk to all these different people who suppose to all work for the same company and half of them dont know what they are doing ! I have been trying to get somewhere with them for over 9 months and getting no where. Defendant Select Portfolio Servicing, Inc., the company that serviced Plaintiffs' mortgage loans . I live in Florida and when Hurricane Irma hit, I had some property damage, that I had to fix, I ask for a loan extension which they granted, which all the monies were due at the end of the 3 month extension, which wasnt explained to me that way by the representative on the phone at the time of my request. A link to creating an account may be found here: https://topclassactions.com/signup/. Every time I would send in the required paperwork I would get either no reply, told the paperwork was incomplete, or I did not qualify for the same modifications they said they could work with me with. ( outside the United States). I never received anything from an attorney. I finaly had to do a modifacation but my payment is not going to anything but interest, Add me also been dealing with them and their bs for years, Yes SPS gave me a run around for all 5 months.