Consumer complaint received 2019-11-25
Company: SELECT PORTFOLIO SERVICING, INC.
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
My wife and I believe that we have been and are being discriminated against because of our race and the color of our skin. After experiencing a family medical hardship which turned into a financial hardship, in our quest to save our home, we applied for a loan modification with the original servicer of our mortgage, XXXX XXXX XXXX XXXX. We provided XXXX XXXX XXXX all the required documentation for the loan modification and in the middle of the loan modification process, rather than genuinely work with us, XXXX XXXX XXXX sold our exotic predatory loan to one of its subordinate companies Select Portfolio Servicing ( SPS ). We have been trying to get a loan modification from Select Portfolio Servicing ( SPS ) for over a year. However, we also believe that SPS practices racial discrimination and would rather foreclose on our home and collect the equity and government insurance funds rather than help consumers with legitimate hardships. We stayed in contact the whole time with SPS and it was always the same response they didnt receive all of the document. After SPS denied our loan modification request, we were not even offered the option to Short-Sale our home. We hired a realtor to represent us ( as a third party ), completing and submitted all required documents to SPS, and put the house on the market for Short-Sale, and SPS refused to honor their option to allow us to Short-Sale our home. Next, we filed several complaints against SPS. After reviewing our valid complaints, and our account, SPS disingenuously offered/recommended that we re-apply for a loan modification. We re-applied for an SPS loan modification, and submitted all required documentation in a timely manner. In our request for mortgage assistance, we asked SPS to consider a. extending the maturity date of our SPS loan # XXXX beyond calendar year XXXX ; b. place missed payments at the back of loan ; c. keep the current fixed interest rate or lower ; d. keep monthly mortgage payments of not more than current monthly payments per month. SPS refused to consider modifying our loan, but instead offered a repayment plan requiring that we make monthly payments of {$15000.00} per month. We wrote a letter of appeal informing SPS that we could not afford to pay monthly mortgage payments in the amount of {$15000.00} a month, and reminded SPS that we initiated our original loan modification request due to a medical hardship which led to a financial hardship. And now that our medical hardship has been resolved, we under no circumstances are not able to afford to pay a monthly mortgage payment of {$15000.00} a month. SPS responded by rescinding their loan modification offer because we were unable afford to pay SPS {$15000.00} monthly mortgage payments. SPSs loan modification program is a disingenuous bait and switch for sure. I have never seen any kind of trickery like this ever, and it can not possibly be legal. SPS has been STONEWALLING us throughout the entire loan modification process. We are seeking legal representation. We believe SPS has wanted to foreclose on our home all along. SPS will not even allow us to Short-Sale or bringing the account current as options. 


SPS should not be allowed to deny our requests for mortgage assistance simply because of race and the color of our skin. My wife is also a XXXX XXXX survivor and I am a retired, XXXX veteran and I honorably served this great country for 22-years. We would for SPS upper management to review this file and letter that they sent to us. Please do not allow SPS to continue their discriminating practices against us and help us save our home from being foreclosed on by this racist, predatory lender, Select Portfolio Servicing. 
Very Respectfully, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX.

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