Consumer complaint received 2016-04-05
Company: SELECT PORTFOLIO SERVICING, INC.
State: WA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
In my recent attempt to buy a home with my partner we were trying to get pre-approved for a mortgage loan. Due to jumbo regulations here in XXXX you must have pristine 24 month payment history with all mortgage servicers. I had a single 30-60 delinquent mark with Select Portfolio Servicing. I had no history of being late with that payment since the loan modification after my startup failed and my home went under-water XX/XX/XXXX / XX/XX/XXXX. I had worked hard to rebuild my credit and was current on all other payments. I contacted SPS on XXXX XXXX and indicated through their voice prompts that I would like the conversation recorded. When the agent picked up I explained my situation outlined above and confusion as to why I had this late payment for XXXX primary reasons : * I always pre-paid 3 month payments consistently for many years with no issue * In an effort to more quickly pay down the loan I had decided to add additional payments starting in XXXX XXXX. I made that first additional payment to my former servicer Roundpoint mortgage. That payment should have been forwarded to the new servicer SPS but was not and was instead credited back to my account 30+ days later with no other notification. 

also : In a 12 month period I had paid {$1800.00} vs. an expected {$340.00} required in the same period. 

In short, I have never been late on this account since my primary modification which required I make no payments for a fixed amount in order to modify. In fact I had worked earnestly to pay it off much more quickly then requested. During the call the agent went to her supervisor several times and eventually came back and indicated that my request had been approved and she had been given the go ahead to submit the change request to the credit agencies. She then proceeded to process the form while I was on the line and submit them. In addition she was able to generate a copy of the request that was to be sent to my address. She indicated the process guaranteed removal of the deliquency mark within 60 days. I asked if there was any further action required on my part and she indicated everything was complete. On XXXX XXXX after having not received a copy letter I called back into the call center and this agent indicated there was no letter available and was unsure why I had been given a guarantee but could indicate no problem with my account. This completely contrasted with my initial conversation and guarantees. The agent then disconnected our conversation when I indicated my continued confusion. I also requested this conversation be recorded at the beginning. 
Since I can not get pre-approved for a home in my desired location and school district I am now stuck. My mortgage brokers and bankers have told me until this mark is resolved I can not qualify for conventional loan products even though I have all the other qualifications. In an effort to have this inaccuracy removed I have now created disputes with all XXXX credit agencies XXXX, XXXX and XXXX. I have sent these via certified mail today XXXX/XXXX/XXXX with delivery receipt. I have included the following evidence with each request. a 12-month payment report from bank 's bill pay service showing frequency of {$100.00} advanced payments and additional payments starting in XX/XX/XXXX. detailed XX/XX/XXXX payment and return credit. SPS statement showing amount of payment, individual credit reports showing discrepancy. I also received postal mail on XXXX from SPS that their 30 day review period for this issue began on XXXX XXXX ( instead of the guaranteed removal given on first direct call ). I would like SPS to correct this discrepancy as soon as possible so I XXXX move forward with purchasing a new home. 
Thank you for your assistance with this matter.

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