Consumer complaint received 2023-03-19
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: SELECT PORTFOLIO SERVICING, INC. (VA)

On XX/XX/XXXX a payoff request was submitted to refinance my property. 
Select Portfolio Services ( SPS ) provided an electronic payoff in the amount of {$170000.00} with a good thru date of XX/XX/XXXX. 

On XX/XX/XXXX a additional payoff request was submitted to refinance my property. 
Select Portfolio Services ( SPS ) provided an electronic payoff in the amount of {$170000.00} with a good thru date of XX/XX/XXXX. 

The difference in payoff amounts was the Per Diem Daily interest accrued between XXXX pay off requests. 

On XX/XX/XXXX my settlement company XXXX XXXX XXXX XXXX, XXXX ) sent a check in the amount of {$170000.00}. 

On XX/XX/XXXX the funds were returned to the Settlement Company ( XXXX XXXX XXXX, XXXX ). 

Between XXXX the settlement Company ( XXXX XXXX XXXX, XXXX ) tried to receive clarity on why the funds were return. They were told because a new payoff was created the old payoff was no longer valid even thou it had not expired. 

On XX/XX/XXXX a payoff dispute was entered with SPS and my settlement Company ( XXXX XXXX XXXX XXXXXXXX ) sent a check in the amount of {$170000.00} to pay the second payoff amount in time before that payoff expired while the dispute was resolved. 

The XXXX funds were returned to the Settlement Company ( XXXX XXXX XXXX, XXXX ). 

Between XXXX the Settlement Company has been trying to receive clarity on why the funds are being return even though they match the payoff amounts provided. 

I was told by SPS, the dispute entered on XX/XX/XXXX should take 30 day per company policy. It is now XX/XX/XXXX no decisions have been made on the dispute. 

At this point, SPS has informed me while the account is in dispute status my loan will continues to receive daily interest and subject to foreclosure. 

Im currently in fear of my property going into foreclosure as well as my refinance being recalled from my new lender ; causing additional fees from the refinance closing costs being recalled. 

My professional relationships with my lender are now in jeopardy as well as other deals in my portfolio will be compromised. 

The Facts- ( all supported with cellphone call logs ) 5 hours and 38 mins have been spent contacting SPS on the follow dates for resolution on the pay off dispute submitted by my settlement company. XXXX XXXX XXXX called : XXXX-46min XXXX-7min XXXX-178min XXXXXXXX-2min XXXX-14min XXXXXXXX-23min XXXX-4min XXXX-49min I personally have spent 10 hours and 53min between the dates of XXXX on the phone with my settlement Company ( XXXX XXXXXXXX XXXX  XXXX ) trying to get resolution. ( dates and min can be provided upon request ) In total 17hr 31min have been spent via phone trying to get a dispute resolution and documentation showing what should be paid. 

I have been hung up on several times ( call logs can verify ), as well as promised call backs from several managers/ supervisors. We have gone as far up the chain as allowed. 

Since XX/XX/XXXX, SPS has only reached out via letter on XX/XX/XXXX to advise they would need an additional 30 days to review. No additional communication has been sent and that additional 30 day window has expired as well. 

I consented to all calls being recorded on SPS lines for your review. 

As of today XX/XX/XXXX no resolution has still been found.