Consumer complaint received 2019-12-10
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: SELECT PORTFOLIO SERVICING, INC. (MI)

I have been trying to apply for a loan modification since XX/XX/XXXX with my lender, SPS and have been unsuccessful in my attempts because I have been receiving different information each time I submit for a review. I first started to submit for a loan modification in XX/XX/2019. When I initially submitted the application, the representative I spoke with, Ms. XXXX XXXX, told me that my application was denied for a streamline modification that did not review income. She also said that, “it was not in the interest of the investor,” to modify the loan which I did not understand and thought was vague. Then I tried to submit another application in XX/XX/2019 and they immediately denied it and said I needed to re-submit everything because the application I sent had the incorrect date on it. I did what the lender requested and re-submitted on XX/XX/XXXX. They still denied my application, and only four days after I initially submitted the application. Then in XX/XX/XXXX  I attempted to submit for a modification again. I filled out the modification application and submitted it to the lender on XX/XX/XXXX. The representative I spoke with on the XX/XX/XXXX, Ms. XXXX XXXX, told me that the investor does not require financials for the application and that it would take them 30-days to review my application. On XX/XX/XXXX I called to check for an update on my application and the rep I spoke with, Ms. XXXX   XXXX, told me that they denied the application I sent on the XX/XX/XXXX and determined in their decision that no retention options were available to me. When I received the denial letter, all it said was that no retention options were available to me but it did not give any other explanation and also said that income was not reviewed or considered as a part of this request. I called the lender for a detailed explanation and spoke with Mr. XXXX XXXX who told me that I was denied modification because of the modification I had on my loan in the past and how much past due the account was that they couldn’t reduce the payment. However, Mr. XXXX did advise me that if I had a change in circumstances like additional income or a contributor or new job with increased earnings, I could appeal the decision and submit it with the new information for the advocacy department to work with Underwriting to review the appeal. So I attempted to submit an appeal to the decision because I am a small business owner and believe that the increase in income I was receiving would prove that I could afford a modification and help me save my home. I submitted a written appeal and a profit and loss statement showing the increase in income I have on the XX/XX/XXXX. Several days later I received letter that said my appeal for Loss Mitigation was declined. The reasoning behind the decision was very confusing. Initially it says that income was not considered or a part of this evaluation but then the letter goes on to say that the decision for the denial was, “based on your individual circumstances.” It also says that the review that they were unable to offer a trial modification because, “we could not reduce your principal and interest payment.” I believe that the explanation behind the decision is misleading and doesn’t explain exactly why or why I do not qualify for modification.