Consumer complaint received 2017-02-15
Company: SELECT PORTFOLIO SERVICING, INC.
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Settlement process and costs

Complaint:
Select Porfolio Servicing response to case number XXXX. 
Please note that Select Portfolio deliberately refused to contact us on our cell phone number which were the numbers given to them as our best contact phone numbers. SPS chosed to call the home number as indicated at XXXX XXXX on XXXX/XXXX/XXXX. Neither me nor my wife was at home. Again this is the cell numbers wife XXXX ( XXXX ) XXXX ( XXXX ) Moreover my caller ID indicates that attempts was one time only on the house phone number. Secondly, Select Portfolio Servicing deliberately refused to address the issue of why the modification has a balloon payment of {$550000.00} plus accrued interest on top of this balloon payment. SPS refused to explain why we have to pay interest ( accrued ) interest for 19 years on this balloon amount of {$550000.00}. This is nothing but corporate greed from this Investor which is XXXX with XXXX XXXX as trustee. Please note as you are aware that XXXX had violated banking laws and had to pay fines brought forth by the justice department last year. We are being punished because of their actions and they are repeating the same problems for what they were fined for. We have contacted our Senators in California to help us with this type of predatory modification. WHY such a huged balloon payment? Why again pay interest on the balloon payment? Why only 19 years left. Why count your 30 years from the original note year of XXXX. Why refuse to have XXXX XXXX XXXX complete the loan modification by transferring to another servicer just because it is within the rights of this Investor. XXXX XXXX XXXX stated this Investor forced the transfer. All this is an attempt to purnish and hurt us because of the many complaints we filed with CFPB. We would not have been approved for a modification by this Investor if we did not exercise our rights under the California Homeowners Bill of rights. Our loan was a XXXX loan with which we were victimized including when XXXX XXXX XXXX took it over. We need your help as the agency that deals with these complaints. Again SPS is inaccurately stating that they could not get in touch with us. XXXX XXXX XXXX did exactly the same until when I told them that I dont have a home phone number. Are these SERVICERS trained to call people at home when these days almost everybody uses a cell number as their primary method of contact. Again do not call any other number except on the cell phone numbers as indicated above. Are Investors only required to modify loans for 19 years only? Is it wrong to request that the terms be made longer. It is public record that this investor has granted modifications for up to 30 years and longer. We are being singled out and being refused the same benefits as others even those with less income as us.Thank you for investigating further. I know we dont qualify for a principal reduction, but the principal has always increased from late fees charges modification fees over the years Origal amount was {$750000.00} and it is now {$810000.00}. Over {$67000.00} of late fees, charges and modification fees charged.

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