Consumer complaint received 2017-01-05
Company: SELECT PORTFOLIO SERVICING, INC.
State: KS
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
The reason for this complaint is that XXXX, XXXX and XXXX do not have the correct information on my credit report regarding my mortgage with Select Portfolio Servicing ( SPS ). After multiple written requests to SPS, they no longer even investigate the inaccuracies. I am asking the CFPB to review the written evidence provided and intervene again with SPS. If I am correct, I am asking the CFPB to assist me in making sure my credit reports with XXXX, XXXX and XXXX are accurate. 
I purchased a home in XX/XX/XXXX for {$130000.00}. My mortgage was serviced by XXXX until late XX/XX/XXXX. Select Portfolio Servicing ( SPS ) was selected as my new servicer as a result of the National Mortgage Servicing Settlement in early XX/XX/XXXX. 
Due to the XXXX, I received an offer to modify the mortgage on my home with a reduction in principal. I received the offer letter via fax on XX/XX/XXXX from SPS. I contacted SPS to get wire instructions to pay SPS. That same day, I requested that a wire be sent for the amount of the XXXX initial trial modification payments to SPS. SPS confirmed receipt of the funds less than XXXX days later. The offer letter is included, the page of the bank statement that shows the payment for XXXX months of the {$210.00} monthly payment ( total of {$650.00} ). 
The mortgage modification agreement specified that I make payments of {$210.00} on or before XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. All three months of payments were made on XX/XX/XXXX via a wire of {$650.00}. 
My understanding of trial modification is that payment are held in suspense accounts for the XXXX months of the trial modification. During that time, no negative data should be reported to credit bureaus. SPS reported that XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX payments were at least XXXX days late. XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX were not reported at all. SPS claims that because they were understaffed to handle all the modifications and it took until XX/XX/XXXX to get a final modification done my XXXX on time payments do not count. 
I am asking that the CFPB look at the modification offer, the copy of my XX/XX/XXXX bank statement and take action against SPS. I believe that XXXX law requires that information from creditors be reported accurately to credit bureaus. Their report is not accurate. 
I have made all payment starting from XX/XX/XXXX until today on time based on the offer from SPS. If I am correct in my reasoning, I believe that it would be fair to have my credit report show either on-time payments beginning XX/XX/XXXX until today or XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX showing no entry and XX/XX/XXXX until today should show on time payments on both of my credit bureaus. That is what happened. 
Separately, the highest balance of my mortgage shows {$40000.00} on my credit report. This is not correct. I have attached a copy of the recorded mortgage showing that it was {$130000.00} originally. The highest balance on my credit report should show {$130000.00}. That is the accurate amount. I am asking that the {$130000.00} be shown as the original amount. 
I previously have contacted XXXX and XXXX and provided them the same information I have provided the CFPB. They left the data unchanged and " verified '' the data as correct. I asked how it was verified and the credit bureaus stated that they contacted SPS. I do not understand how a reasonable person can see the information provided and state that my credit report is correct. 

The CFPB has previously taken action against SPS. They had problems in the past with multiple regulatory agencies. They should be held accountable for the damage they do to people 's lives. They are shameless in not taking responsibility and correcting their mistake.

Company public response: Company believes complaint is the result of an isolated error
Company response to consumer: Closed with explanation