Consumer complaint received 2017-04-14
Company: SELECT PORTFOLIO SERVICING, INC.
State: CA
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I 'm finally very happy to report that there finally, finally appears to be a healthy exit plan for all parties concerned for my property located atXXXX XXXX , Ca. XXXX. I 'm currently in a Chapter 11 BK and due ONLY to a very recent surge in local housing prices for XXXX the selling of this property should make all parties whole AND most important actually leave me with a bit of a profit too ( which I will invest into an IRA which was the original purpose of buying this property to be sold in this chap 11 BK ). So my complaint has more to do with wanting to be included in any sort of class action or government lawsuit which may ever take place against SPS and their deceiptful biz practices. In attempting to get a good faith review for loss mitigation I spent over a year of endlessly trying to get my RMA to the " complete '' stage for review but in the end concluded that their whole representation of trying to " help '' distressed homeowners with these loss mitigation programs is a pure sham ( and as I finally learnt this past fall in looking over various studies on the effectiveness of the programs it 's clear that there is virtually no " help '' going on but certainly plenty of exploitation ). Here 's how the scam works. Let 's say if after a good faith, full review of my initial application determined that I needed to turn in 6 different documents to deem my application " complete. '' OK, that would be great ... but in my case NEVER happened and I 'm not alone. Instead they would ask for let 's say 2 of the 6 doc 's and I 'd turn them in - always with 2 follow up calls - one with their basic service rep 's ( usually young people ) and the other with a supervisor. The calls were to confirm what had been turned in and what STILL needed to be turned in. Using the above example when they 'd come back with let 's say 2 more of the 6 that were originally needed to complete the RMA and I 'd ask them " what necessitated those?? Why did n't you ask for those last time?? '' there was NEVER an adequate answer and there was NEVER some new fact or new piece of information ( ie some sort of change ) that warranted the request. In other words these doc 's could have and should have been requested all along. 
But the fact is if SPS does not request ALL doc 's necessary in good faith combined with the fact that some of these doc 's do have expiration dates such that if one passes that date then the doc already submitted then needs to be re submitted, then it becomes mathematically impossible to complete an application - you 're simply at no single point actually informed in good faith as to ALL the doc 's needed. what 's more, I 've included an typical example of SPS 's written letters and if you look at the final grey box there is always the number XXXX you are to call for " clarification on what is needed. '' So you can see by its own definition " clarification '' is not something SPS is willing to provide IN WRITING. You must call them and time and time again in my case the instructions I was given verbally did NOT match that which I was receiving in these letters. Fortunately I recorded hundreds of these conversations so that there is no question that this is systematic fraud and deception. I am not asking for any sort of investigation now on my part now because I 've currently got a viable exit plan through my chapter 11 BK, however, if there are any lawsuits against SPS for these sorts of wrong doings in the future I definitely want to be included in those legal actions for I deserved a good faith review of my RMA. The chap 11 BK is expensive and onerous and it could have and should have been avoided. 
TRUST ME - THEY WILL BLAME IT ON ME BECAUSE AS WE ALL KNOW BY NOW ... IT 'S SOMEHOW ALWAYS THE HOMEOWNERS FAULT. I 'M SURE THAT WILL BE THE SPS RESPONSE.

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