Consumer complaint received 2026-04-14 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: SELECT PORTFOLIO SERVICING, INC.
State: CA

Complaint narrative:
Complaint Against : Select Portfolio Servicing ( SPS ) Loan Number : XXXX I am submitting this complaint regarding Select Portfolio Servicings failure to properly report mortgage interest paid on my loan and their refusal to issue a Form 1098 despite clear documentation of substantial interest payments. This matter is time-sensitive, as my tax filing deadline is imminent. I have been attempting to resolve this issue directly with SPS since XXXX, but have been unable to obtain a clear explanation or access to the appropriate tax reporting or compliance department. Based on SPSs own loan statements, my account reflects {$140000.00} in year-to-date mortgage interest paid. In addition, I made consistent monthly payments ( approximately {$16000.00} per month ) which were applied toward accrued interest and escrow obligations. SPS has stated that no Form 1098 will be issued due to the presence of a temporary buydown subsidy. However, this position is inconsistent with the actual transaction activity and the treatment of the buydown funds. The original buydown amount was {$170000.00}, of which only {$61000.00} was ever applied during the life of the loan. The remaining balance ( approximately {$110000.00} ) was not applied to the loan payoff. Instead, it was refunded to me separately at payoff, in the same manner as an escrow account balance. This demonstrates that : The buydown funds were not fully utilized The buydown was not treated as mortgage interest The buydown functioned as a separate account used to offset monthly payments The majority of the buydown funds were returned to me and never applied to the loan Despite this, SPS appears to be relying on the existence of the buydown to justify not issuing a Form 1098. This is inconsistent with their own internal accounting, which clearly reflects that mortgage interest was paid and applied to the loan. There appears to be a discrepancy between SPSs internal accounting records ( which show interest paid ) and what has been reported, if anything, to the IRS under my SSN. At a minimum, the mortgage interest paid directly through my monthly payments should be properly accounted for and reported. I am requesting that SPS be required to : 1. Provide a complete accounting of all mortgage interest received and applied to my loan during the tax year, including a breakdown between : Interest paid directly by me Amounts attributed to buydown subsidy or other credits 2. Confirm the exact amount of mortgage interest reported to the IRS under my SSN. 3. Issue a corrected Form 1098 reflecting all reportable mortgage interest pa id, or provide a written explanation citing the specific IRS authority supporting their position. SPSs failure to provide accurate reporting or a clear explanation is preventing me from properly filing my taxes and raises serious concerns regarding compliance with mortgage interest reporting requirements. Given the urgency of this matter and the extended period over which I have attempted to resolve it, I request expedited review and response. Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation