Consumer complaint received 2023-07-16
Company: SELECT PORTFOLIO SERVICING, INC.
State: NM
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Apparently, the people at Select Portfolio Servicing ( SPS ) whose address is XXXX XXXX XXXX, XXXX XXXX XXXX, UTAH XXXX are scum : totally sinister, dishonest thieves who either lost or stole all the {$69000.00} ( documented on ALL Checking Account Statements I printed from XXXX, XXXX ) in Equity Money I have paid to Select Portfolio Servicing ( SPS ) for the house at XXXX XXXX XXXX XXXX XXXX, Kentucky XXXX purchased on XX/XX/XXXX for the sales price of {$95000.00} with {$33000.00} used as a downpayment ; and {$3000.00} which went to closing costs for {$65000.00} mortgaged through XXXX XXXXXXXX XXXX XXXX XXXX I still have all the Closing Documents when I purchased the house on XX/XX/XXXX. 

Very Recently, I was considering trying to obtain a loan using my house as collateral. It is my understanding that Equity is the amount of money I HAVE ACTUALLY PAID INTO THE HOUSE, which is now {$69000.00} which SPS is unable to locate in their records when I called several times in the last three weeks. 

From XX/XX/XXXX to XXXX, XXXX the mortgage was serviced by XXXX XXXX XXXX ; and then by XXXXXXXX XXXX ( who is now XXXX XXXX ) under the mortgage account with the last four numbers ending in XXXX. I do not know if XXXX is one of XXXX 's loan servicing companies ; however XXXX kept the same mortgage loan number ending in XXXX which was reported on my Checking Account Statements. 
In XXXX, XXXX, the mortgage was sold to Select Portfolio Servicing ( SPS ). The Mortgage Account Number at SPS is XXXX. 

XXXX XXXXXXXX XXXX was ALWAYS able to tell me- to the penny - how much Equity/Cash I had paid into the house whenever I called in to ask them in the eight years from XXXX to XXXX. 

When I called SPS three ( 3 ) weeks ago to ask how much Equity/Cash I've paid into this house so that I could have an idea how much money could be used as collateral for the Loan I would like to obtain, the clerk at SPS said she only saw that I had paid {$700.00} something dollars on the current loan with SPS ; and only {$58.00} has been paid to principal. 

She seemed very defensive and argumentative when I told her I have a heck of a lot more money in the house than that. She talked to me as though I was stupid, and refused to transfer me to someone in upper management who could help me track down my money. The other two phone clerks in subsequent phone calls were also rude, argumentative, and unhelpful, and refused to transfer my phone call to someone on their upper management team to help me track down my {$69000.00}. 

Select Portfolio Servicing is either extremely sloppy in their bookkeeping or they are total dishonest scum, who PROMISED ME when they restructured the loan after the COVID-19 Relief program ( which started with XXXXXXXX XXXX  and ended with XXXXXXXX XXXX ) when XXXX sold my mortgage to SPS, that none of the money I had ever paid into the loan would be affected. In fact, representatives at both XXXXXXXX XXXX and Select Portfolio Servicing promised that none of the money I had paid into the house would be touched. 

Why can't Select Portfolio locate my {$69000.00} and show me in writing where all the money is I have paid on this house all these years? 

There is definitely something wrong with a Mortgage company like Select Portfolio who can not even tell their customers how much cash they have paid into their mortgage account to the penny.

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