Consumer complaint received 2023-05-18
Company: SELECT PORTFOLIO SERVICING, INC.
State: NH
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Consumer Financial Protection Bureau XX/XX/2023 In XXXX I filed a complaint against Select Portfolio Servicing ( SPS ) because the process for getting assistance with HAF was taking so long. That has finally been resolved. 

My problem now is the escrow shortage on my account was {$30000.00} and with the {$20000.00} that HAF assisted with left an escrow shortage of roughly {$10000.00}. 

I asked in XXXX that SPS do a review of the account and recalculate taking into account the {$20000.00} being paid on the shortage. My mortgage payment was over {$1700.00} due to the shortage. The amount that was reduced was {$150.00}. I wrote again saying that seemed unacceptable since there was a payment of {$20000.00}. I am still awaiting a response but have been told that they figure the shortage when it was XXXX on a XXXXmonth payback, now they are figuring it on a 24 month which still leaves me at {$1500.00} with {$170.00} for fees and advances ( dont know what that is ) which puts my mortgage right up to {$1700.00}. I don't understand why they are not trying to get help us get into an affordable payment. 

UPDATE : I just received a letter from SPS yesterday see response in attachments. Hopefully you will be able to open as I have had a difficult time getting the attachments done because it says document is corrupted. 



I do understand a increase in taxes and insurance would play a role in some of an increase but still not enough to offset {$20000.00}. They also stated that if the payment was too high then we could start loss mitigation. Loss mitigation for them is short sale or foreclosure. 

They claim they want to help us keep our home but yet they certainly wont work with you. A year and a half ago we tried working with SPS about helping us when I was very sick with XXXX long haul and they wouldnt do anything but started foreclosure process. We needed to borrow against our 401K to get caught up. I dont have any confidence that they would be willing to help us gain our house. 

I also question the bookkeeping with SPS. I called last week and asked if there was any update on my request for recalculation of mortgage which the answer was no and was told that I didn't have a mortgage payment due until XXXX as we were all paid up. I questioned why I was ahead but got some answer honestly, I couldn't understand. I cant even go in on the online app and see a history of payments. I need to request it and then they send everything and it doesnt help to understand your account. I should be able to see my history on line to verify what is happening but cant do that. 

I dont understand how you go from being paid ahead to being a month to being behind the next week. Someone or something is grossly wrong with their bookkeeping. I really need someone to help us keep our house by holding SPS accountable for the bookkeeping and the {$2000.00} payment which should have greatly decreased our payment. 

I really need help retaining our home. 

Please help XXXX XXXX

Company public response: Company believes complaint is the result of an isolated error
Company response to consumer: Closed with explanation