Consumer complaint received 2024-04-02 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: SELECT PORTFOLIO SERVICING, INC.
State: IL

Complaint narrative:
Re : Formal Complaint Against Select Portfolio Servicing, Inc Dear Sir/Madam, I am writing to formally lodge a complaint against Select Portfolio Servicing regarding their egregious mishandling of my mortgage account, which has resulted in severe financial distress and placed me at risk of foreclosure. The circumstances surrounding their actions are deeply concerning and warrant immediate investigation by the Consumer Financial Protection Bureau. 

On XX/XX/2024, I received notification from SPS alleging that I was in default on my mortgage payments. This claim came as a shock to me, as I had diligently made payments in accordance with the terms of our agreement. It is crucial to note that I had been enrolled in SPS 's forbearance program until XXXX, during which I consistently made payments on the XXXX of each month, as verbally agreed upon over the phone. 

However, SPS failed to adequately inform me that upon the conclusion of the forbearance program, my regular loan payments would resume on the XXXX of each month. This lack of notification resulted in me missing the XXXX payment deadline of {$2800.00}, as their website did not allow me to make the payment due to the holiday and the sudden change in due date and the amount owed. 

Subsequently, SPS unjustly raised my interest rate to an exorbitant 20 %, despite my efforts to rectify the situation by making manual payments over the phone for the original agreed-upon amount. Shockingly, while simultaneously sending correspondence indicating that we had repaid what was owed and reverting to the previous interest rate of 5.25 %, SPS inexplicably continued to label me as in default. 
They also tried to auto withdrawn a payment of {$11000.00} to cover the payment and their 20 % interest from my bank which was returned and put me in a big trouble with my financial institution and made me pay a lot of insufficient and returned payment fees. 

Moreover, despite my repeated attempts to engage with SPS 's customer service representatives to address these issues and request an audit of my account, I have been met with unresponsiveness and incompetence. Phone numbers provided by SPS have proven ineffective, and the harassment I have endured through incessant calls and voicemails, even late into the evening, only exacerbates my distress. 

Furthermore, I have requested documentation of the original note on my account, yet SPS has failed to provide this essential information, further exacerbating my concerns about the validity of their claims and their business practices. 

In light of the aforementioned circumstances, I implore the Consumer Financial Protection Bureau for a second time to conduct a thorough investigation into SPS 's practices and take appropriate action to rectify the injustices I have suffered. I urge you to intervene on my behalf to halt any foreclosure proceedings and ensure that SPS adheres to fair and lawful practices. 

Enclosed please find documentation supporting my claims, including records of payments, correspondence with SPS, and evidence of their failure to provide essential information upon request. 

Thank you for your attention to this matter. I trust that the Consumer Financial Protection Bureau will act swiftly to address this urgent issue and provide the necessary relief to safeguard my rights as a consumer. 

I am attaching every correspondence that I have from them and/ or what I could download from their website, since they dont go past three months I believe. 
I can also provide calls record and voicemails recordings upon request. 

Sincerely, XXXX XXXX

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