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

I originally applied for a short sale on XX/XX/XXXX and was approved. I presented 3 offers and unfortunately SPS took too long to process offers. All three buyers withdrew their offers. The real estate agents and potential buyers were disappointed because SPS has been completely disagreeable, disrespectful, difficult, extreme inability to be flexible, display of unprofessional business practices and the lack of knowledge/training of customer service agents giving wrong information which caused delay in the process. Also SPS has a bad reputation in the industry. On the Consumer Affairs website SPS has year to date 76 reviews and all of them have a one star rating, which is the lowest. The XXXX XXXX XXXX has 334 complains in the past three years. In the past 12 months SPS 140 closed complains. This information was very discouraging to agents and buyers. I did not have any control of any of those factors which hurt me on the long run. I was the victim of SPS poor reputation and unfair lending practices. 

I need to sell my property on a short sale because I had financial issues due to medical expenses. The FDCPA is broadly interpreted to protect debtors, because all consumers, even those who have mismanaged their financial affairs resulting in default on their debt, deserve the right to be treated in a reasonable and civil manner. The FDCPA lists several practices that are illegal, including using misleading or false statements to collect a debt, from the standpoint of the least sophisticated consumer. SPS have engaged in unlawful and deceptive acts, practices and misconduct in connection with the ownership and servicing of my residential mortgage loan, including, but not limited to charging unlawful inspection charges. SPS uses false, deceptive, misleading, unfair and unconscionable practices. 

My loan was sold / transfer on XX/XX/XXXX to SPS. The loan was a conventional loan without PMI with a principal balance of {$320000.00}. As of XX/XX/XXXX it has a principal balance of {$480000.00} and a payoff of {$580000.00}. 

Since I stared the short sale process I have made 657 ( SIX HUNDRED FIFTY SEVEN ) phone calls trying to get SPS to cooperate and speed the process up so the buyers would not get frustrated with the process. 

Most of the time I would get the wrong information from the SPS representative. I would follow the instructions given to me and when I would call to follow up and check status of short sale I would be told that the information given to me by the SPS representative was wrong and I had to start all over. I called for my relationship manager XXXX XXXX 46 ( FORTY SIX ) times and was not able to reach him. 
I left messages for Mr. XXXX to call me back and I only received 4 ( FOUR ) returned calls. Eight times I was told that I did not have a relationship manager and they could not explain why Mr. XXXX was no longer my relationship manager and the reason my file did not have one. 

I have been told several times that I only get one shot at the Short Sale process but your letters disclose the opposite. All the other offers did not work out because of SPS not cooperating, lack of consistency on their requirements, unfair lending practices, employees lacking the experience to deal with certain loan issues and complicating and delaying process. 

According to your disclosures the property appraised at {$390000.00}. We have an offer in the amount of {$390000.00} and buyer has been approve and ready to close. We have provided all that information to SPS. 

It is very unfortunate that SPS is discriminating against my race and national origin and has treated me very unfair in the process. I feel you have violated fair lending practices. 

SPS is willing to foreclose on a property than give me the opportunity to sell property on a short sale for the current appraise value. If SPS forecloses on this property it will not sale for the appraised value and SPS will have to pay all the expenses of foreclosing on property. 

STOP DISCRIMINATING AND ENFORCE FAIR LENDING PRACTICES. PLEASE REVALUATE MY APPEAL AND DO THE FAIR AND RIGHT THING.