Consumer complaint received 2023-02-11
Company: SELECT PORTFOLIO SERVICING, INC.
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I have a mortgage with XXXX XXXX XXXX  located at : XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX, CA XXXX. 
( XXXX ) XXXX My mortgage/loan number is : XXXX My loan processor for my mortgage is : Select Portfolio Servicing , INC , located at Select Portfolio Servicing , Inc . 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, UT XXXX ( XXXX ) XXXX XXXX. I have had my mortgage for 1 year. My mortgage is {$11000.00} and I have paid my XX/XX/XXXX mortgage on XXXXXXXX/XXXX via wire in the amount of {$11000.00}. 

2. The wire was sent from my XXXX checking account ending in XXXX. 

3. The XX/XX/XXXX mortgage payment was made via wire from the same XXXXXXXX XXXXXXXX 

4. The XX/XX/XXXX mortgage payment was made via wire from the same XXXX XXXX 

5. All of my mortgage payments have been in an amount greater than the amount due. 

6. On XX/XX/XXXX I received an email from XXXX XXXX, XXXX XXXX  XXXX XXXX XXXX XXXX XXXX notifying me that XXXX XXXX XXXXl had not received my XX/XX/XXXX mortgage payment. 

7. On XX/XX/XXXX I called XXXX XXXX XXXXl and spoke with XXXX XXXX, Mortgage Operations Assistant at XXXX XXXXXXXX XXXX to inform XXXX XXXX XXXX that I had already paid the XX/XX/XXXX mortgage payment to Select Portfolio Servicing on XX/XX/XXXX via wire in the amount of {$11000.00}. While on the phone with XXXX XXXX, I called Select Portfolio Servicing and they confirmed receipt of the wire on XX/XX/XXXX in the amount of {$11000.00} and assured us that they would apply the payment as they were running behind. 

8. On the XX/XX/XXXX I emailed XXXX XXXX, Account Executive at XXXX XXXX XXXX, XXXX XXXX, Chief Operations Officer and XXXX XXXX, Mortgage Operations Officer at XXXX XXXX XXXX  a copy of the wire payment receipt in the amount of {$11000.00} to Select Portfolio Servicing from my XXXX XXXX account ending in XXXX. ( See copy enclosed copy of wire confirmation receipt, below ) 9. As of today, XX/XX/XXXX Select Portfolio Servicing has not applied my XX/XX/XXXX mortgage payment. 

10. At XXXX XX/XX/XXXX I called and spoke with XXXX XXXX XXXX XXXX '', Supervisor at Select Portfolio Servicing at extension XXXX on a recorded line to inquire about the status of my XX/XX/XXXX mortgage payment. 

11. XXXX XXXX informed me that she was emailing the cashier department to escalate the application of the XX/XX/XXXX mortgage payment tonight and that the payment would be applied tomorrow morning XX/XX/XXXX. 

12. Please see the dates of the correspondence regarding this timely XX/XX/XXXX mortgage payment : a. On XX/XX/XXXX payment made b. On XX/XX/XXXX correspondence received by XXXX XXXX XXXX regarding the missing XXXX mortgage payment. 
c. On XX/XX/XXXX correspondence responding to XXXX XXXX XXXX  with email of wire confirmation payment receipt. 
d. On XX/XX/XXXX phone call with XXXX XXXX XXXX and Select Portfolio Servicing to inquire about the XXXX payment not yet applied to my mortgage account. 
d. On XX/XX/XXXX phone call to Select Portfolio Servicing and this email correspondence regarding the same XXXX mortgage payment still not applied to my mortgage account 13 days after it was paid via wire from my XXXX  checking account to the Select Portfolio Servicing Chase checking account. 

13. As my lender I am asking for your assistance to resolve this issue of my XX/XX/XXXX mortgage payment not being applied by Select Portfolio Servicing. 

14. According to the Federal Trade Commission ( FTC ) the servicing company ( Select Portfolio Servicing ) is required to : a. Apply payments on the day they are received so to avoid fees, b. Review and keep records regarding my mortgage, c. Pay taxes and insurance from the mortgage payment, d. Track down late payments. 

15. Under the Real Estate Settlement Procedure Act ( RESPA ) Select Portfolio Servicing is required to : a. Acknowledge my correspondence in five business days. On XX/XX/XXXX I requested the expeditious application of the XX/XX/XXXX payment. As of today, I have not received any correspondence from Select Portfolio Servicing regarding the status of said payment or its status. This is well beyond the required 5 days. 

16, I have made all of my mortgage payments on time. At no time has any mortgage payment bee 30 days late. 

17. Select Portfolio Servicing ( your servicing company ) is causing me undue and tortuous harm as the late application of my XX/XX/XXXX mortgage payment will accrue undue fees and penalties XXXX. I have made numerous phone calls to both Select Portfolio Servicing and XXXX XXXX XXXX XXXX in regards to applying my XXXX mortgage payment as required by law. To date, I have been given assurances that the XX/XX/XXXX payment received would be applied to my account. As of XX/XX/XXXX. The only correspondence I have received in writing is an " Early Intervention Notice '' as of XX/XX/XXXX via online document delivery. I advised XXXX XXXX XXXX  that if this matter is not resolved and my payment applied then I would file a complaint to the Consumer Financial Protection Bureau ( CFPB ) for action. 

19. The delay in applying my XX/XX/XXXX mortgage payment threatens to place me in default of my mortgage in addition to undue penalties and fees which would constitute a financial crime. 

20. Time is of the essence as I have exhausted all available remedies via phone call and email correspondence.

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