Consumer complaint received 2022-10-21 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: NY

Complaint narrative:
I filed a complaint with the CFPB on XX/XX/XXXX which was taken verbally by a CFPB agent. That complaint was incorrectly transcribed by the CFPB agent due his language difficulties and transcription errors were made in his documentation. I would like to delete it from your system and replace it with this complaint in my own words. The number assigned to the XX/XX/XXXX complaint was XXXX. I called the CFPB today and spoke with XXXX in Washington to see if the original complaint could be " edited '' but because the agent also misspelled my name on his complaint she could not help me. I told her I have six complaints filed with the CFPB and she could not group the six together on her screen. I told her the other XXXX complaints concern XXXX XXXX and the XXXX I endured with them since XXXX. I asked her how I could address all of these matters in one current complaint since my current situation with Select Portfolio Servicing Inc. relates very strongly to the mortgage they were given by XXXX. XXXX said to tie it all together and to bring it current in this complaint. 

The company involved in my complaint is Select Portfolio Servicing, Inc., XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, UT XXXX. The CFPB currently has over XXXX customer complaints against them ( per XXXX in Washington ). XXXX sold my XXXX loan ( signed " under protest '' and created by XXXX XXXX XXXX ( XXXX ) to Select Portfolio Servicing in XXXX. I told Select Portfolio on Day 1 " you have just inherited a " criminal '' mortgage. I told them I needed all of the loan transfer information XXXX provided to them and told them I would be keeping meticulous records of every transaction and every conversation we have. 

The first red flags on this new servicing by Select Portfolio were Escrow account issues. I was constantly told I have an Escrow " shortage '' and I made payments as soon as I was advised. Despite making timely payments, Select Portfolio Servicing would randomly increase my monthly mortgage payments using the " shortages '' as their excuse. As this kept happening I asked the agents where my payments were going and they told me " the tax office ''. So I went to our local tax office and asked them if they were receiving my payments from Select Portfolio. They looked at me like I had three heads and told me what I already suspected. Escrow analyses are normally performed once annually and the mortgage holder is given the results of the Escrow analysis at this time and decides how he/she wants to handle the shortage or overage RED FLAG # 1 - SELECT PORTFOLIO SERVICING TRIED TO TELL ME I WAS REQUESTING THE ESCROW ANALYSES AND THIS IS WHY MY MORTGAGE AMOUNTS KEPT FLUCTUATING. I TOLD SELECT PORTFOLIO SERVICING I AM ON A FIXED RATE MORTGAGE AND IN THE SIX YEARS THEY SERVICED MY ACCOUNT, THEY WERE HANDLING MY TRANSACTIONS NON-COMPLIANTLY. 

Very often I made " extra '' payments to Select Portfolio Servicing and was very specific about how I wanted the funds disbursed. I told them to apply anything over the amount due to Principal and repeated this instruction to the agent processing my payments each month. Select Portfolio Servicing had a problem applying payments to Principal and very often ignored my instruction. Instead, they would place my extra principal payments in unapplied funds or mortgage. Because Select Portfolio kept changing my monthly payment due I could never accurately calculate proper crediting to my Principal account. RED FLAG # 2 - Compliant processing of mortgage payments. 

Due to my previous experiences with XXXX, I kept escalating improper handling of my account to the Ombudsman 's office at Select Portfolio Servicing. I eventually escalated this matter to XXXX XXXX XXXX in XXXX, NY, The XXXX XXXX XXXX in XXXX, NY and Congresswoman XXXX XXXX 's office in XXXX, NY. I have been reporting my mortgage compliance issues to the OCC, the CFPB, XXXX, XXXX, Attorney General 's Office, FTC and FBI for almost twenty years now and all of the government agencies respond with " this is a contractual matter between you and the bank ''. Select Portfolio Servicing Inc. is not a bank. They are a " debt collector '' / '' loan processor ''. XXXX told me after reviewing my payment histories to report " white collar crime '' to the FBI and the Attorney General. Both agencies referred me back to the CFPB and to real estate lawyers. 

I requested two conference calls with XXXX XXXX, Select Portfolio 's Director of Compliance, a representative from Congresswoman XXXXXXXX XXXX XXXX XXXXXXXX XXXX and my attorney, XXXX XXXX. Account audits were requested and in XXXX of XXXX Select Portfolio Servicing reversed over {$5000.00} to my credit. They issued a new XXXX but would not explain in detail what they did or why. 

I continued to make additional principal payments with the hope of getting away from Select Portfolio Servicing with a refinance and they continued to misapply my payments. I was approved by two separate mortgage companies for a refinance and lost out on one closing because the payoff letter generated by Select Portfolio Servicing was incorrect. I felt as if they were holding me XXXX and kept calling their Ombudsman 's office daily to get what I needed for the second refinance, As the date for the refinance neared I reached out to XXXX XXXX several times with copies to all involved. He replied that he was out of the office and gave me the names of people I could contact in his absence. I did contact them but none replied. Only one sent an e-mail stating he was in a new position and referred me to a XXXX XXXX. No response there either. 

I received a call recently from XXXX XXXX stating he was so sorry for everything that was happening, as much as was humanly possible. I told him I am a very forgiving person but said he was the Director of Compliance. I said I held him to a higher standard. I told him my account has been so mishandled that a forensic accounting is needed. I told him to do the right thing and conduct s forensic accounting. He replied " I don't know if I can do that ''. His Ombudsman 's office finally agreed last week to do a forensic accounting but I doubt they will be able to finalize this by my closing date. There is just silence from Select Portfolio Servicing. 

I have been on the phone daily with the Ombudsman 's office and various agents at Select Portfolio Servicing begging for documents required by the new servicer. It was like pulling teeth. Nothing flowed smoothly. My most recent mortgage payments were also misapplied and not reflected properly in the requested payoff letters. The stress Select Portfolio Servicing caused me was unwarranted. Their responsibility to their mortgage holders is to compliantly handle their accounts and their duties. They fail in both arenas. 

XXXX handled two of my previous mortgages. They charged bogus fees and also handled their mortgages non-compliantly. In my situation, I had to deal with the tragic death of my spouse and raising of XXXX young children. I reached out to XXXX for help and they claimed they never received my requests. They crisscrossed two separate mortgage accounts and forced me to go to XXXX daily and to XXXX XXXX them my proofs of payment on each account. They later claimed they lost my address and sent my mail to an obsolete address. They forced me into a bankruptcy where I lost one home. Despite the bankruptcy Judge 's order not to contact me, their company XXXX did contact me and tried to negotiate a double mortgage payment monthly to save the home I lost.. They sent me personal mortgage statements for an XXXX family in California. I received robotic, generated letters in duplicate and triplicate that made no sense. They never addressed the issues at hand. They had ruinners posting Foreclosure Notices on my properties. 

Now, Select Portfolio Servicing is doing the same thing - trying to cover their lies. I gave their Director of Compliance my spreadsheet which contains everything needed for analysis and resolution. Some things never change. 

After my bankruptcy, XXXX broke into my current home saying they were " securing '' it. They were supposed to secure the home I lost in a different county!!! They tried to auction my home and never informed me. It's a miracle I still have a roof over my head. The Judge told me I can keep and live in one primary residence but XXXX thought otherwise. I have photographs. I have Police reports. I have receipts. XXXX refused to reimburse me for anything. I had to make claims to my Personal Home Insurance for XXXX 's damages. And this is all okay? I don't think so! 

XXXX took a year to issue a corrupt XXXX mortgage and told me if I didn't sign it as provided that I would lose my home. I signed " under protest ''. You don't just add thousands of dollars to a mortgage after you were non-compliant and smile about it XXXX XXXX XXXX. XXXX was right. This is white collar crime. 

My life was never the same after the bankruptcy. My credit was destroyed. You made my life XXXX and then the icing on the cake - you sold my XXXX mortgage to Select Portfolio Servicing.. Why pass the buck? I made no late payments. I complied with all the XXXX requirements. I was ahead on my payments. 

After twenty years and after contacting every government agency assigned to mortgage fraud I know why. The banks, the regulators, the lawyers, the Judge 's are all in on the fraud. The word compliance is an oxymoron for " acceptable '' white collar crime. There will never be justice.- " forget about it '' I attach two spreadsheets with my mortgage payment histories with XXXX and Select Portfolio Servicing. I also attach several e-mails I sent to XXXX XXXX and my attorney last week. I still expect a forensic accounting from Select Portfolio Servicing. This is the only way to get a handle on their deception. 

Sad that a person has to waste another {$7000.00} just to break away from injustice with a refinance. I urge the CFPB with all that is within me to " protect '' innocent consumers who have been incorrectly funnelled like a tornado into a bank 's bad batch of bad loans for no reason. After twenty years I am convinced all of this has happened to try to force a default on my loan. This is the only way XXXX  and the other banks involved with the bank fraud of the XXXX XXXX can eliminate their fraudulent accounts and appear " good '' once again in front of their regulators. What a travesty! 

XXXX complaints and no enforcement? Please let our voices be heard.

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