Consumer complaint received 2023-02-17
Company: SELECT PORTFOLIO SERVICING, INC.
State: PA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Beginning in XXXX of XXXX I began to try to assume the loan previously held by my deceased parents. I am the executrix of the estate and the property was deeded to me in XXXX of XXXX. As the new owner of the property I contacted the mortgage company to begin the process of an assumption. As the responsible person for the estate I ensured that the mortgage payment and taxes for the property have been paid in full and on time since the death of my mother in XXXX of XXXX. The mortgage payment is automatically withdrawn from my personal back account every month. The loan is current and an additional {$200.00} per month applied toward the principal is also withdrawn. The loan for the property was originally held and serviced by XXXX XXXXXXXX XXXX. I began the process of working toward assuming the loan and identifying myself as the XXXX XXXX XXXX for the property with XXXX XXXX XXXXXXXX. I made countless phone calls and was instructed to fax all information requested to several different fax numbers. Every time I would follow up by phone to inquire about the status of the process, I would speak to a different customer service representative who would give me different information, tell me to re-send the same documents I had already sent. I was notified that I was recognized as XXXX XXXX XXXX in XX/XX/XXXX and I as sent the paperwork to apply for assuming the loan. As of XX/XX/XXXX the servicer for the loan changed. I was informed that Select Portfolio Servicing, Inc. was now the servicer and that I had to begin the process of identifying myself as XXXX XXXX XXXX all over again and then try to assume the loan after this was complete. This experience has been even more stressful. I would call SPS XXXX or XXXX times a week with some calls lasting longer than an hour. Every phone call was with a different customer service representative, who sounded as if they were reading a script verbatim. They could not answer questions and I was told many times that they could see information and I should get a response within XXXX business days and to call back then. I would always call back and be told the information had not been reviewed and to give a call back in a few more days. All customer representatives said that underwriting had to review what I had sent and that I could not speak to or contact them and that they, the customer service representatives, could only send messages, but not speak to underwriting either. I re-sent all of the same information I had sent to XXXX XXXX XXXX by fax XXXX times, then finally I was told by a customer representative that I could email information. I began emailing information. I would received numerous mailings and phone calls that information was incomplete or invalid. I resent many documents more than XXXX or XXXX times and received numerous mailings and phone calls that did not apply to the loan. Finally in XXXX of XXXX, a customer service representative remained on the phone with me and walked me through the steps of submitting all the information for the assumption and assured me that she could see that I had submitted everything to be named XXXX in XXXX. She encouraged me to submit all of the assumption documents as quickly as possible. I sent all of the documents on XX/XX/XXXX. I was soon assigned a relationship manager who contacted me and said the documents were in order, but underwriting would have to make the determination in order to identify me as the XXXX in XXXX. I kept calling my relationship manager who kept repeating that all documents were in order and I just had to wait until a decision was made. By XXXX when I received no decision and was asked for documents again, which had already been sent, my relationship manager said that I should get my attorney involved and send the message that all documents have been sent, what is needed? Within a week I received notification that I was identified as the XXXX XXXX XXXX for the property and I needed to send back my acknowledgement form. I sent it back immediately. Soon after this I received a letter saying that it would be XXXX days to determine if I was eligible to assume the loan. I received notification on XX/XX/XXXX that I was not approved for an assumption and modification. I did not apply for a modification. I also received XXXX mailings about short sales and foreclosure which do not apply to me. The loan is current, and as I stated earlier I pay an extra {$200.00} toward the principal each month. I once again contacted my relationship manager, who said at first they used your parents credit scores and they are deceased. She began to compose a message to underwriting, about this and said, but wait you make too much money. I stated, they used my monthly income, but not my XXXX XXXX? She then called over her manager and said that I did not qualify for the assumption because I make too much money. She said not to worry I am fully authorized on the account, that everything is in my name including the taxes and insurance. I asked where I could find this information and if I was authorized and I made too much money why was I not allowed to assume the loan. She told me to just keep up the payment and breathe. I continue to receive mailings in my deceased parents ' names and now underneath it says XXXX ( my name ). I have sent a written appeal to SPS for the assumption non-approval. They are supposed to respond within XXXX days. I continue to get mailings from them about how they can help with a short sale, and put me in contact with XXXX of their approved realtors who understand their procedures to make the process go smoothly. I want to assume the loan. I do not want to sell the house. I am qualified, have submitted all information required, and am truly XXXX and XXXX about this.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation