Consumer complaint received 2021-08-03
Company: SELECT PORTFOLIO SERVICING, INC.
State: MO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
This is an additional compliant against XXXX, Select Portfolio Servicing , Inc., XXXX XXXX the Investor note holder which we just learned who they were in correspondence from SPS dated XX/XX/2021 from our request. 

XXXX  XXXX ( the Investor ) has acted in bad XXXX as our note holder and has timely reviewed our document which complied with their requirements as outlined in a letter from SPS dated XX/XX/2021. SPS outlined the exact requirements for our loan to have the deferred COVID-19 payments placed at the end of our note as a balloon payment. Ironically, we went through the same process with XXXX, which is the holder of our home equity credit line and they in good XXXX  on that loan did exactly this. XXXX was the original noteholder of our primary mortgage and I could only imagine that this would have been resolved, but for the bad XXXX actions of XXXX  XXXX. 

More specifically, once we received the request from SPS for 3 months of Profit and Loss Statements on our real estate business which has been the primary source of our income ever since we took out the loan with XXXX XXXX some years ago. We complied with this requirement on XX/XX/2021 well within the 90 day period that SPS claimed we need to provide current financials. XXXX XXXX acted in bad XXXX  by not accepting this information even though it met the letter of the XX/XX/2021 requirements. We further in good XXXX  provided additional information on XX/XX/2021. SPS stated that we shouldn't have reported " Other Income '' even though it was a requirement of the XX/XX/2021 letter. 

When we reported XXXX, SPS and now XXXX XXXX to the CFPB complaint number XXXX, SPS called us from their supposed " Ombudsman Department '' and just reiterated the demand from their servicing department to provide no current financial information. This in no way is the purpose or appropriate response from on Ombudsman Program and we demand that the CFBP reprimand SPS and prevent them from using the term Ombudsman in this manner and furthermore act as not an extension of Customer service in collection of a debt, but more so of a resolution department and 3rd party oversight to violations by their Investors to not act in good XXXX. 

We want to be perfectly clear with the CFBP, we have acted in good XXXX  with XXXX, SPS and the Investor but have been treated in bad XXXX and that these entities have used the COVID deferment program for their nefarious actions to force us to be foreclosed on, sell our house or go into default which our intent and actions have been all along to pay all of our debts on a timely basis except for our request to place the COVID deferment payments as a balloon on the back end of our note. Prior to COVID all, and I mean all of our payments to XXXX and SPS have been timely and we have already made our XXXX payment. SPS and the Investor have applied our payments against our past COVID deferred balance and have intended all along to delay their response to our requests so that by the time we get some type of response from them, they will claim that we only owe current payments outside of the COVID period not as we have asked them to direct our payments. We as the the CFPB take appropriate actions and revoke the Investors license and that all loans issued to them by XXXX be returned to XXXX as well as the servicing of our loan and that all prior COVID amounts be deferred as a balloon on the end of our note.

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