Consumer complaint received 2019-10-22 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: CA

Complaint narrative:
In XX/XX/XXXX, I applied for a hardship Mortgage Modification. Interest rates by SPS where at 5.5. %, causing problems in trying to keep up due to a lawsuit against the Investor " XXXX XXXX '' filed in XXXX, on another matter. After 4 years, I was granted a favored solution but by this time, my GREAT CREDIT SCORE OF  XXXX, HAD BEEN DESTROYED. AND as a result, credit was not obtainable for me to help ease making affordable payments. On XX/XX/XXXX, I was sent a letter to pay {$50000.00} for total reinstatement of account by XX/XX/XXXX. I made this payment and confirmed by SPS. 

On XX/XX/XXXX, I received a Mortgage Statement which stated that I needed to pay {$51000.00}, for the Payment due date of XX/XX/XXXX. I made the {$50000.00} by the XX/XX/XXXX, date and completed the difference of {$1100.00} by XX/XX/XXXX, Per the statement, that would have brought my account current. THIS DID NOT HAPPEN. I received a letter 1hat I was in default again, since I didn't pay {$5100.00}, for XXXX. i NEVER RECEIVED any notification by the company for that amount. They are a misleading company and prone to errors. I have constantly have had to go back and forth with them but always losing since i don't have any power as a consumer to get them to make the corrections to my account ( this goes back to when I paid my property taxes then they paid the same, and I had to go to the assessor 's office to return their payment vs them just recalling it back ) because of this error they did a Escrow account and instead of fighting with them I let them go ahead and do the impounding of the Escrow. There is a lot of work on my part to get them to fix but I cant seem to get passed their hardness towards consumers. I NEVER received any documentation for a payment of {$5100.00} by SPS, and i contacted them and they gave me this long letter. The facts are that they are negligent in how they report data from their system and NOT find a need to correct what they produce in error. In addition to the error, they end up charging me late fees and other charges even though I am current per the Mortgage Statement of XXXX. They do this trick whereby they post funds into the Uappled funds after they pay for their fees even though I paid them correctly. Its a fraud and someone needs to look into this practice of their system. In addition I submitted for a hardship due to their investor making a mistake on another matter, and they ruined my credit score. In their denial of a Modification they claim that at a interest rate of 3.875 %, I don't qualify for a Modification but at 5.5 %, I qualify for making their calculated mortgage payment. SPS and the Investor XXXX XXXX  are manipulators of the data and cause foreclosures to occur so they can take back the property and sell it for its Market Value. XXXX knows that my home Equity is 70 % above what I owe. So its a scam!! On XX/XX/XXXX, I received a letter for a payoff demand on my loan. Which I don't know where this comes from, since I believe I am current on my loan in XX/XX/XXXX. I have paid my XXXX payment, but they are putting these payments in unapplied funds. As you can see, how can this be since the XXXX Mortgage Statement tells me what i owe and that is WHAT WAS PAID. Errors by the SPS system and Fraud by XXXX XXXX the Investor. Someone needs to look into their business practices in working with the consumers and acknowledging their errors by the system and their employees.

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