Consumer complaint received 2015-08-11
Company: SELECT PORTFOLIO SERVICING, INC.
State: CA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account

Complaint:
Today, I am requesting assistance with several issues concerning the posting of payments made to XXXX XXXX XXXX XXXX XXXX XXXX to my mortgage account ( now serviced by Select Portfolio Servicing-SPS ) ; forced placed hazard insurance when I already had coverage ; mortgage payments not applied to my account in a timely manner, misappropriated and/or missing altogether ; Up Front Fees ( UFF ) I paid as a condition of obtaining a forbearance or loan modification from XXXX 
In XXXX XXXX, I paid {$5000.00} UFFs for a forbearance via XXXX currency. At the time, I was unaware it was illegal for anyone to charge me UFF in order to execute a modification or forbearance. Also, this payment does not appear on a mortgage statement. 
On XXXX/XXXX/XXXX, I paid {$1500.00} as UFF for a mortgage modification. At the time, I was unaware it was illegal for anyone to charge me UFF in order to execute a modification. Where was this payment applied? XXXX see attachment ) On XXXX XXXX, XXXX, I sent {$1200.00} ( cashier 's check from XXXX XXXX via the US Postal Service to XXXX, as requested of XXXX Where was this payment applied? ( see attachment ) On XXXX/XXXX/XXXX, I made a regularly scheduled payment of {$2700.00} directly in a XXXX XXXX XXXX branch as reflected on the attached receipt. Page 8 of a XXXX prepared statement XXXX dated XXXX/XXXX/XXXX ) lists the transaction date of XXXX/XXXX/XXXX. The payment was also called a " Misc. Posting '' although the receipt clearly states it was a regular payment. Please note several things about this transaction. First, the transaction was n't recorded on the transaction statement by XXXX until a full 9 days after payment was made ( XXXX/XXXX/XXXX ). This delay in posting adversely affects how much money from the payment is applied to principal and interest. Second, under the " PMT/Mo '' column on the payment statement by XXXX the payment was applied to a XXXX XXXX payment. This does not make sense. Please note : I made a payment of {$4400.00} on XXXX/XXXX/XXXX that was applied to XXXX PMT/Mo. Why was this transaction not applied to the next month 's payment ( XXXX ). Given this and other inaccuracies, it appears the number of months in arrearages reported by SPS is inaccurate and exaggerated. Third, what are " MISC. POSTINGS ''? 
On a mortgage statement dated, XXXX XXXX, XXXX XXXX Intent to Accelerate ), the monthly charges listed from XXXX/XXXX/XXXX to XXXX/XXXX/XXXX which range from {$3500.00} to {$31000.00} are erroneous. How was this calculated? The Late Charges and Uncollected Costs listed also appear to be erroneous and in need of explanation. 
In addition, I was charged for Hazard Insurance by XXXX XXXX XXXX in XXXX when I clearly had obtained insurance on my home. Where was the refund applied? Attached are documents relating to this issue. 
Most important, after numerous QWR requests SPS refuses to respond to the issue that they are NOT in compliance with the guidelines of the investors of the Pooling and Service Agreement of my mortgage-backed security XXXX XXXX ) by denying me principal reduction, principal forgiveness, interest rate reduction and affordable monthly payments as part of a mortgage modification offer.

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