Consumer complaint received 2024-04-05 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Payment process
Company: SELECT PORTFOLIO SERVICING, INC.
State: TX

Complaint narrative:
In XX/XX/XXXX I processed a loan for the purchase of my house with the institution. XXXX XXXX, at that time I signed my contract which stated that the loan would be for a period of 30 years, with an interest of 8 % monthly, so the monthly payments would be a total of {$750.00} USD. Likewise, it was established that the payment of taxes and insurance of the house would pay them independently so that they were not included in the financing and thus avoiding excessive and unnecessary payments, something I have done year after year without problem until today. 

Then, in the month of XX/XX/XXXX, I decided that each month I would make a double payment with the intention of I finished my loan early, thinking that all this extra money would have to go directly to The principal debt and, therefore, advance my payments. So my monthly payments I decided that I would no longer make them for {$750.00} USD, but for {$1500.00} USD, this because I decided I finished paying my financing sooner. 

Unfortunately I realized that SPS Select Portfolio Servicing, inc manipulated my contributions to make them look as if that were the amount initially agreed upon, since according to The account statements notified since XX/XX/XXXX detail that the {$750.00} USD extras that I decided to contribute to pay my financing faster, they take it as if it were I pay for taxes and insurance on my house, which is NOT THE case because I have always paid independently and totally apart from those two concepts. 

For this reason and until this situation was resolved, I stopped paying the monthly payments for the months of XXXX, XXXX and XXXX since through calls from phone I requested that this situation be explained to me, but this was never resolved by SPS Select Portfolio Servicing, including which I was sure would not cause me any problems since Since XXXX I AM MAKING DOUBLEPAYMENTS TO MY ACCOUNT. 

However, I VERIFIED that the institution SPS Select Portfolio Servicing , Inc. has made acts to the detriment of my assets since in the account statements of the months that I have not payment made ( XXXX, XXXX and XXXX ) they are charging me {$1500.00} USD as if this were the amount that I am obliged to pay, but this is not the case since I decided pay that amount with the objective of making a double payment and thus finish my financing faster. 

Yesterday I spoke by phone at XXXX XXXX XXXX from the institution SPS Select Portfolio Servicing, inc to ask again for clarification about the incorrect charges that are being made to me doing and requesting that they give me an explanation of all this, to which they told me that the amount of the charge is because THEY ARE CHARGING ME FOR TAXES AND MY INSURANCE HOUSE, REFERRING TO ME THAT THE AMOUNT OF TAXES PAYABLE IS {$3200.00} USD. which is extremely incorrect since I am an older adult who, due to my age, should only pay {$940.00} USD, of which I am adding proof of payment at this time. 

The situation mentioned in the previous paragraph was applied last year in a manner improper payment of XXXX taxes, which is demonstrated in the monthly charges that SPS Select Portfolio Servicing , inc have been generating during XXXX, however they also I attach proof of payment with which I verify that I had already paid it and that institution SPS Select Portfolio Servicing, inc double charging and for the same excessive amount. 

With the above confirm that the institution SPS Select Portfolio Servicing, inc is carrying out irregular charges damaging my assets, so I ask for detailed clarification on the reasons that lead him to make said charges as well as the actions that are being carried out to my detriment doing.

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