Consumer complaint received 2016-08-06
Company: SELECT PORTFOLIO SERVICING, INC.
State: GA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX, XXXX XXXX Headquarters address Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX Dear XXXX XXXX ; This is XXXX XXXX 's response to following SPS compliant responses : Case number Step Status Submitted Complaint history XXXX Consumer review Company responded XXXX/XXXX/XXXX XXXX Consumer review Company responded XXXX/XXXX/XXXX XXXX Consumer review Company responded XXXX/XXXX/XXXX XXXX CFPB review Response not disputed XXXX/XXXX/XXXX XXXX CFPB review Response not disputed XXXX/XXXX/XXXX XXXX CFPB review Response not disputed XXXX/XXXX/XXXX XXXX CFPB review Response not disputed XXXX/XXXX/XXXX XXXX File Duplicate XXXX/XXXX/XXXX XXXX CFPB review Response disputed XXXX/XXXX/XXXX Based on the generic quality of the SPS responses I assume the following : SPS is not interested or willing to investigate and provide the information requested : A history of Principal and interest payment since the mortgage inception. 

A verbal and numeric explanation of the Mortgage amortization Before the modification and after. 
A comparison and contrast of the XXXX mortgage amortization prior to modification and afterwards. 
Where monthly payments higher or lower? 
Was the total principal reduced? 
What was the financial engineering execute to define the modification in compliance with HAMP? 
Did the modification provide permanent cash flow reductions. 
If not why modify? 
Does SPS consider a mortgage Payment with property taxes in excess of P & I economic? Is this common place? 

SPS consistently avoids the Fraud Challenges of the original Mortgage and modification. I would encourage CFPB to instruct SPS to contact and work with the originator and modifiers Sincerely, XXXX XXXX, XXXX APPENDIX Please allow me to introduce myself. My name is XXXX XXXX. I purchased a home at XXXX XXXX XXXX in XXXX XXXX. I was returning back to the US after servicing my country not in the military but as being XXXX XXXX XXXX XXXX XXXX XXXX XXXX based in XXXX XXXX. 

I invested my life savings of {$200000.00} on the home. Today I am exploring foreclosure options with Select Portfolio Servicing due to a XXXX in XX/XX/XXXX. I am XXXX XXXX today. 

I believe that I was defrauded by XXXX at the time of my mortgage origination. 

An uneconomic and irrational payment structure. 
My mortgage principal and interest is less than my monthly property taxes and insurance. 
After a modification my monthly mortgage payments are higher than my original payments. This was a negative Home Affordable Mortgage Program experience. 
My Principal Balance today, XXXX, after 16 years is higher than it was in XXXX. 

Reccomendation Please conduct and audit and analysis of my mortgage modification and complete history with XXXX, XXXX and XXXX. 

Please assist me in receiving a debt " cram down '' valuation base of my history for the mortgages. For example, my total payment from XX/XX/XXXX to XX/XX/XXXX approximates my original principal debt or {$990000.00} in payments vs. XXXX in original debt. 

Thank You. 

Sincerely, XXXX XXXX XXXX ACCOUNT XXXX XXXX XXXX XXXX AMOUNT PRINCIPAL {$760000.00} DEFERRED {$140000.00} PRINCIPAL {$900000.00} MONTHLY PMT PRINCIPAL {$1100.00} INTEREST RATE {$1200.00} {$2400.00} ESCROW {$2500.00} TAXES INSURANCE

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