Consumer complaint received 2024-12-19 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: SELECT PORTFOLIO SERVICING, INC.
State: ND

Complaint narrative:
I have a mortgage loan backed by XXXX XXXX that is being serviced by Select Portfolio Servicing. I have significant issues with the way they have handled my mortgage loan, starting with failing to offer the CARES forbearance as required when I had my income reduced due to XXXX  ; and now relating to their agents telling me I qualify for help, but then finding out after I send in paperwork that I am denied. I feel that Select Portfolio Servicing is deliberately obstructing access to XXXX  loss mitigation options that should be made available to me, just like they obstructed access to the CARES forbearance when I was impacted by XXXX. As a XXXX  servicer they were REQUIRED to offer help for me when I went behind, but instead they dragged their feet and did not offer the forbearance and after almost a year of back and forth I was able to get approved for the XXXX XXXX XXXXXXXX program to get caught up on the loan. This seems like bad and unethical business practices. 

After getting the money from the state through XXXX I made my mortgage payments as agreed for the next couple of years. I had been in a tight financial situation since I was involved in a major car accident in XXXX and have had lingering back problems since that time. I also had a big scare due to blood clots which required a 9 day hospital stay. Back then I had money set aside and sick days and I exhausted all of my resources to keep up with my bills but this left me with no safety net. In XX/XX/XXXX I came down with XXXX and missed a couple of weeks of work. A couple of weeks later I got in a car accident and this aggravated the existing back issues and led to missing work for several weeks. I also had to deal with the additional medical bills and the car repair and the deductible for the car insurance as well as the chiropractor and massage therapist. Everything hit all at once and this put me into a tough situation, as I had no money put away after the car accident and hospital stay a few years before. 

I was not able to make the XXXX mortgage payment and thought I would be able to quickly get caught up but then the bills kept piling up. I contacted Select Portfolio Servicing in XXXX and asked if I could be considered for assistance programs and sent in my information and was told that I did not qualify. I tried again a couple of months later and was again told that I did not qualify. No reason was given. I called in to the office and explained my situation again, and the representatives said I should qualify for assistance, but every time I try to apply I am told that there are no programs for me. I have been told that the only option is to reinstate the mortgage and pay the full past due balance which I cant do. 

I have worked in insurance administration for over XXXX  years and make a solid living. Additionally, my XXXX year old son who lives in the home is working full time as well and contributing towards the household expenses. We have had a change in financial circumstances and have sufficient income to qualify for assistance programs. Since this is a XXXX loan backed by XXXX XXXX, Select Portfolio Servicing is REQUIRED to review my financial information for all distressed homeowner programs. This has not happened. There are multiple programs that I am certain I qualify for to address the past due balance by deferring, recapitalizing or offering a loan modification. I have not been given access to any of these programs or even been considered for a repayment planthe past due amount is approximately {$XXXX}. This is an avoidable foreclosure but SPS seems intent on ignoring the guidelines and rules, just like they did when I was denied access to the CARES forbearance they were required to offer me. I filed this complaint with your agency in hopes that SPS would be held accountable.

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