Consumer complaint received 2023-10-24
Company: SELECT PORTFOLIO SERVICING, INC.
State: FL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process
Sub-issue: Trying to communicate with the company to fix an issue while managing or servicing your loan

Complaint:
Hello, We have called for months about paperwork that was sent to SPS months ago and every time we call ( over ten times, we have lost count ) the story changes and is contradictory. Please see attached paperwork that was sent to you as requested ( WITH CONFIRMATION ). 

We were advised by your customer service rep the new payment would be {$500.00} after we were told the escrow account was removed back in XX/XX/. We have been paying that amount for months now and STILL no one seemingly has any idea of what we are talking about. 

SPS is constantly playing games by applying the amount we were told to pay as suspended funds, makingus call in repeatedly to resolve this issue. This is a common practice they have been sued for before ( XXXX XXXX XXXXXXXX ). 

SPS was originally sent the escrow removal noticein XX/XX/XXXX  and it was sent several times after that.They did not remove the escrow account until XX/XX/XXXX  despite having received the removal notice from XXXX XXXX months later. 

On XX/XX/, SPS paid XXXX XXXX {$5600.00} without my consent, despite being told in writing and verbally my intentions to close my escrow account back in XX/XX/XXXX  and having received my requestto close the account as confirmedreceived. 

I have spoken with ONE person from SPS ' ombudsman department via phone where she called me and still failed to answer any resolution or questions as to why my request was not processed months ago and why SPS sat on this request for months despite having it confirmed as received. 

SPS alleges they have been trying to reach me and can not do so with the SAME info that has been in place on my account and the same phone number we spoke on. 

SPS claimed that they could not reach me via email and I responded to them as requested and no follow-up has yet to happen.On XX/XX/, I called SPS AGAIN to seek to resolve this issue and my questions were deflected and ignored and I was passed off the the ombudsman department. The rep put me on hold for quite some time and came back and said no one was available to assist and I would have to call back at XXXX. Of all the times I have called and requested this department, no one is EVER available and out of the several requests I have had for call back only ONE returned phone call has taken place for months. 

SPS has YET to resolve or attempt to resolve my issues and complaints and refused to accept responsibility for the part that they have played and continue to play in this process. 

SPS has sent several notices with fluctuating payment amounts that differ from the {$500.00} I was told to pay. 

There has been no accounting or disclosure of what our escrow balance was at the time of closure back in XXXX XXXX  and how those funds would be handled either. 

SPS ' has mailed me statements and mortgage account ledgers in an untruthful manner to pose as " responses to close out my issue '' when one has NOTHING to do with the other. At no time have I asked for " information about my account '' as their letter says they are enclosing the attached documentation to " satisfy my inquiry '' just to erroneously close out my complaint with no resolution. My concerns have yet to be addressed despite them sending information over and over again that has NOTHING to do with my issue/complaint. 

SPS has a shady history as proven by XXXX  complaints that they commonly engage in shady and deceptive trade practices with the aim to profit from these shady business practices at the cost to the consumer and impacting them adversely with the credit bureaus in bad faith.SPS has hundreds of complaints with Consumer Affairs as well for the same shady business practices I am experiencing as well ( XXXX XXXX XXXX ). 

SPS has been in trouble with the CFPB for the same issues I am havingwith them at the present time regarding mortgage servicing violations that include but are not limited to : Charging consumers unauthorized amounts.Misrepresenting mortgage loan transactions and payment history in online accounts. SPS often provides inaccurate descriptions of payments and transaction information, which misleads borrowers.Incorrect handling of partial payments.Servicers are required to take one of the following specific actions when they receive a partial payment from a borrower : crediting the payment, returning it to the consumer, or holding it in an unapplied funds account.Failing to automatically terminate Private Mortgage Insurance ( PMI ) and escrow accounts on time. For borrowers with PMI, servicers are generally required to automatically terminate those additional PMI payments once the mortgage loans principal balance is first scheduled to reach 78 percent of the original value of the property. SPS ' data was/is inaccurate and the PMI wasnt terminated in a timely manner. Escrow account was not terminated in a timely manner as well. 

This matter has been going on long enough and I am seeking assistance from XXXXheFTC, Attorney General, FHFA, CFPB, Office of the Commissioner of Financial Regulation, DOJ and XXXX  since SPS is refusing to address or resolve my concerns I have been attempting to communicate with them since XX/XX/! 

Thanks, XXXX XXXX

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