Consumer complaint received 2022-12-01
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: SELECT PORTFOLIO SERVICING, INC. (MA)

i have had my mortgage serviced by Select Portfolio Servicing for many years. On XX/XX/2022, I sold the property ( primary residence ) associated with the mortgage. The closing company transmitted the payoff amount, based on the Payoff Statement provided to my closing attorney on XX/XX/2022. The Payoff Statement included the Unpaid principal ( not dispute as to this amount ), an interest amount which was " calculated to XX/XX/2022 '' ( I can not determine how this amount was calculated and do not believe it is calculated correctly ), Late Charges Outstanding ( not in dispute ), NSF Charge Outstanding ( not in dispute ), and a Loan Level Advance Balance ( not in dispute ) to Select Portfolio Services on XX/XX/2022 via overnight shipping via XXXX. The check was received on XX/XX/2022 per XXXX  delivery confirmation. 

On XX/XX/2022 I called Select Portfolio Services to confirm the receipt of the check. I was informed that it had not yet been processed. 

On XX/XX/2022, I contacted Select Portfolio Services to again confirm the receipt of the check, to request a reconciliation of the loan ( principal and interest ) balance ( to understand how the interest was calculated, and to inquire about the status of the excess escrow funds. During this call I was informed that I was " not eligible '' to receive a reconciliation of the loan balance or an explanation of how the amounts on the payoff statement were determined. I was also informed that the check was received on XX/XX/2022. I stated to the representative that I had proof that the check was received on XX/XX/2022 and should have been credited to my account on that day. I was informed that this was the standard practice to apply the funds when processed and not the day received ( I believe this is a violation of the law ) and was told it did not matter and I " did not understand how interest worked. '' On XX/XX/2022, I called as I had not yet received a check or the reconciliation. I was agin informed that I was " not eligible '' for a reconciliation of the loan balance or how the payoff statement was calculated. I inquired again about the Escrow check. I was informed that the check had not yet been mailed. I am under the understanding that the bank has 20 days to mail the check. I believe this is another violation of the law. I was then told that they had not updated my address to my new address as had been requested by my attorney when the payoff check was sent. 

On XX/XX/XXXX, I called with the same inquries as above. I was informed that the check for my Escrow funds was indeed mailed on XX/XX/2022 and that it was sent to my prior address. I explained that I was told on XX/XX/2022 that the check had not been mailed. I requested from the representative for proof that the check had been mailed on XX/XX/XXXX and the representative could not provide any. The representative stated that a replacement check would be requested and it would be issued within 30 days. I then explained that this was not acceptable and she stated that she would request a " rush '' on this. 

On XX/XX/2022, I called to get an update on the reissued Escrow check. I was put on hold and the representative found out that no replacement check had ever been requested. He then put in a request fo a replacement check.