Consumer complaint received 2020-12-25
Company: SELECT PORTFOLIO SERVICING, INC.
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I would like to file a complaint against SPS ( Select Portfolio Servicing ). Dates are from XX/XX/2020 to present. Due to the pandemic and experiencing financial hardship from lost work for XX/XX/2020 to XX/XX/2020, I applied for mortgage assistance which I have sent all the required documents and getting deterred and after many attempts to explain my circumstances I was denied under loss mitigation option. My main reason for denial was since I'm not currently unemployed and because I have been current on my mortgage even though my monthly gross income is {$1700.00} which does not cover my mortgage and all my monthly bills to live. The option that the above company offered me was short sale and evaluating my house and comparing the market price by agent. Not only the server made an error in the calculating the expenses and the income to offer any help and reduce the hardship because of reduced income. My relief option from the server was that they would sale my house for me and put me on XXXX XXXX with no where to go. Furthermore I got punished for paying my mortgage from the loan from SBA ( Fema ) which was in my saving to do a complete structural repair. This low interest loan was giving to me only to use for my repairs, but I used this loan since XX/XX/2020 to pay my mortgage to prevent being foreclosed on. In other words they want me to get behind in my payments and initiate fore-closer and then I am eligible for help. I tried with my best ability to prevent the hardship and anxiety of fore-closer by paying my mortgage and being current. I reached out to the above server on a weekly basis and even I sent my SBA loan documentation to them that it isn't my own money in my savings to pay my mortgage with. It is only to fix the structure of my house, but I did it anyway so that my home wouldn't go into fore-closer and I lose my home. Another reason for my denial is that I am not unemployed. I went to work on XX/XX/XXXX, and me as a massage therapist, was not making the same amount I was making prior to the pandemic and this going back to work based on my best ability caused me denial for assistance from them. Furthermore the server ( SPS ) did not inform me of who is my " investor '' or " note holder '', that way I can reach out to them for any assistance. During applying for assistance, which took me 5 months going back and forth with the server with documents, they couldn't understand my employment status weather I was an employee, employer, or self-employed and that I am an employee and work on commission. In order to prove my income, my pay-stub wasn't good enough, I had to send itemized commission bi-weekly reports with the names of all my clients and the services they received. Also I had to disclose my XXXX as a XXXX XXXX XXXX on the phone the reasons why I am not able to make the same amount of money prior to the pandemic. All ( SPS ) did was try and make me give up and offer a short sale. After sending an agent to take pictures of my house and offer me the value of a short sale and sent me a form for a third party authorization for me to sign, which has cause me tremendous anxiety and panorama as I was thinking what is going on. All I did was ask for some assistance and now they are offering me to sale my house instead of helping me keep it. I have been in my home for XXXX years and never really had a problem paying my mortgage up until that pandemic happened and I dont want to lose my home. Even the SPS offered me an " EXPERIENCED '' real estate agent that they are connected with to sale my home and making me homeless due to being a responsible person that is current on his mortgage during an extreme hardship. I believe that they did not review my account completely for eligibility under loss mitigation option which is established through investor rules. I do believe that the correct criteria for the denial " WAS NOT '' based on the individual circumstances and I was just a number in their own formula. 

I am hoping that your agency can investigate my complaint and help me in this regard.

Sincerely Yours

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