Consumer complaint received 2021-03-31 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: MD

Complaint narrative:
Our mortgage was purchased from XXXX by Select Portfolio Servicing , Inc ( hereafter, SPS ) within the last six months. Upon the sale of our mortgage loan to SPS we have noted a significant change in the fees applied in servicing our loan. The business practices of SPS, more specifically the fees for making a mortgage payment have been very disconcerting. The significant monthly fees to make a payment are biased, discriminatory and penalize individuals who have limited access to the internet and banking services. 

When our mortgage loan was with XXXX, a monthly mortgage payment could be made through the automated telephone service for XXXX. SPS now charges $ XXXX ( $ XXXX ) to make a payment through the AUTOMATED telephone service and {$15.00} to make a payment with a representative over the phone. Per the representative, a bank to bank mortgage payment can be completed for free. Or, if autopay is set up using a bank account it is free. I have previously set up autopay to pay a bill in a different situation only to have funds deducted prior to agreed upon date. Therefore, I never use that option anymore. Utilizing the United States Postal Service requires the cost of a stamp, would require a check be mailed prior to funds being available to arrive on-time ( which is not preferred ) and risk the payment being late due to the uncertainty of delivery times during current pandemic. 

Thus, does a consumer have the right to choose which CREDIBLE company purchases his/her loan? What are a consumer 's rights in the choice of who buys his/her loan? When my home was purchased over 20 years ago I had a choice in choosing my mortgage company. 

Now, years later, we are forced to deal with SPS, a company we are very uncomfortable with due to its business practices. Tonight, this writer had another FRUSTRATING, unsatisfactory experience attempting to make a mortgage payment, during this pandemic, without paying a fee. Ultimately I requested to speak to a supervisor. After an extensive conversation, that supervisor stated if a mortgage payment is being made within 5 days of its due date, she can waive the fees. This was the first time I was made aware of this rule. The payment this writer was attempting to make qualified for that rule. The supervisor then agreed to waive the fee for paying over the phone. While on the phone this writer researched the history of SPS online and discovered the previous government settlements related to its business practices under its previous names. 

SPS ' fee practices are unfair, discriminate against financially disadvantaged individuals and financially burden those who may be experiencing financial hardship. SPS unfairly applies fees to the most convenient and easily accessible method available to most to make a timely payment, especially during the pandemic - the phone.

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