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Select Portfolio Servicing

United States

Consumer complaints and reviews about Select Portfolio Servicing

TW DJ
Dec 9, 2011

Stalling on HAMP Refinance

I wonder how many other of the loans that are chronically stalled have a good loan to value ratio. We have about 40% equity in our house and it would be a good deal for BOA to foreclose as they would make $$ on the deal.
What kind of equity do you other HAMP applicants have?
J M R
Dec 12, 2011

Stalling on HAMP Refinance

As a follow up to my dilemma with Select Portfolio Services(SPS): I did send a letter to the Federal Reserve and cc'd SPS. The Fed responded to my letter and sent a notice of grievance letter to SPS. SPS responded that it was my fault, mentioning the "30" day period and that they have been trying, in vain, to work with me. BUT, low-and-behold, within thirty days SPS had readjusted my interest rate by cutting it almost in half. So if anyone is having similar problems I would suggest sending a letter to the Federal Reserve Bank in New York City. Wish you all the best! JMR PS: (to TWDJ) thanks to the devaluation of just about all homes countrywide, my current loan to value ratio is approximately 15%.
autobodydoc
Dec 28, 2011

Awful company

I have tried for over two years to have my mortgage modified only to be told i needed to give them $5, 000.00. In good faith for the loan and only two days to do so.I to have had to do endless paperwork several times over and have been told different things each time we enquired. The best one was not to pay our credit cards till we reached a deal for modification which has led me to bankruptcy for the credit companys have gotten judgements against me.and still the best part is i can afford my mortgage and pay my cards but when your mortgage i$s 675, 000.00 and your home is only worth285, 000.00. And your still willing to stay but sps still wants.to.foreclose.CAN ANYONE EXPLAIN HOW THAT MAKES SENSE
predator killer
Jan 14, 2012

Extortionists

My best advive to anyone dealing with Select Portfolio is to get rid of them ASAP. Because they will DEFRAUD you out of thousands of dollars, then hire lawyers who rely on a persons lack of knowledge of laws to defraud you out of your property. I know because I'm going aftem and the law firm they hired.
oldmomrocker43
Jan 16, 2012

Dishonest/Deceptive Practice

My loan just went up another $500.00 per month. When I asked Ms. Moody, who was incredibly rude (typical of SPS reps), how this could be happening when interest rates are the lowest in history, all she would say is read my contract and suggested credit counseling!!! They inundate you with inscrutible paperwork, then when you question what they've done, you can NEVER get the same answer from a different rep. When they took my loan over last October, they claimed I owed a payment to my prior servicer that was clearly indicated on my bank statement, which I submitted to them. After fighting with them until January, they said they finally reviewed the matter and I owed $300, hardly a month's payment and an amount I knew was wrong, but was just tired of fighting with them. So my credit rating got slammed because no one there would take the time at the documents they had before them. After reading all of the complaints against this company, it is unbelievable they haven't been sued yet. It's criminal!
ChasityM
Mar 21, 2012

Dishonest/Deceptive Practice

I JUST satisfied my lien with SPS. It was a long trying process but I picked up my SATS docs (lien satisfaction) today at my county courthouse. A few months ago I got a call/ call back from SPS and the rep explained the short pay process. It's kind of like a short sale but I'm the only bidder. I offered somewhere around 10% of the remaining balance. I wrote up an offer with all the right info in it, a hardship letter, a short list of flood damage to the property (to prove it could never be sold full price- as is, ) and an explanation of how I was going to get the money. At this point I was significantly behind (actually farther behind then the 10% I offered.) Originally my offer included 60 days to get the money and wire it to them, but the accelerated the time frame to 28 from the day they agreed- giving me slightly less time. Getting a few grand together in 20 some odd days was TOUGH but I did it. Mine was timed around a tax refund. I just went to court house this afternoon and explained it all to the Recorder of Deeds and she got a very big smile and said 'Well it's done now Baby.' When I asked about loop holes and scams and 30 years from now and what not she simply said "It's recorded. It's done."
Yeah, it's done.
Morry
Apr 9, 2012

they are really bad and greedy

I work for them and I can say for sure - this company is really bad. They're not helping people, they're focused on the money instead. They don't even have enough staff, and most of their staff are not even residing here, they are from India.
serena
Jul 30, 2012

Frauds, beware of this company!

I was supposed to be taken off the list two years ago. However, I have recently found out that I own them money. I have spoken to my attorney, who said that there is not much he can help me with.
If there are other victims of this company – please cntact me!
smileygrl
Jun 4, 2013

Select Portfolio Servicing not playing by the rules!

http://www.whitehouse.gov/the-press-office/2013/05/30/press-gaggle-principal-deputy-press-secretary-josh-earnest-5302013

Go to this link. I believe the president would love to hear what they are doing to us middle Americans.He's trying to help us and technically Select Portfolio is playing around with and stalling the President's plans for us to keep our home.

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