Consumer complaint received 2025-02-01 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: SELECT PORTFOLIO SERVICING, INC.
State: NY

Complaint narrative:
I am beyond frustrated with the way that Select Portfolio Servicing has handled the servicing of my loan and the internal loss mitigation process. I lost employment and followed the instructions and protocol provided by their agents but when I attempted to resume payments I was subjected to a circus of errors, incompetence, lost documents etc. I am a professional and I know that customer service matters. I feel that SPS has not only treated me poorly, but engaged in questionable and unethical business and servicing practices. My problem could have been solved but instead of working with me towards a resolution I have been strung along with a series of excuses and passing of the buck. I used the online portal to submit requested documents so there is a paper trail of evidence of my efforts yet I was always told something was missing, something was outdated, something had been lost etc. I believe that if SPS had effectively done their job this would have been resolved months ago and I would not be $ XXXX behind and in the foreclosure process. 

I purchased my home in XXXX with an adjustable rate loan. At the time of purchase the interest rate was 3.5 % and it has now adjusted up to 7.5 %. My loan was with XXXX for many years and transferred to SPS about XXXX  years ago. I have worked as a retail XXXX for XXXX  years and never had any problem with my mortgage payment to SPS until I was laid off in XX/XX/XXXX. At that time I contacted their office and told their agents the situation. I was in constant contact and I received paperwork that verified I was approved for a reduced payment because I was on unemployment. I set this payment up to be automatically debited from my bank account and the first XXXX months the payment was drafted but then in XXXX the payment was not drafted. When I tried to find out why I was told because I was behind. What does this mean? I was behind when I called in to notify SPS of my job loss and they then offered me the reduced payment. I believed that this reduced payment arrangement would last for at least XXXX months or until my hardship was resolved. When I pressed the SPS agents I was told that I was now being reviewed for a full modification even though I was not back working full time. It did not make any sense. 

I was able to find work at a lesser pay rate and then by XX/XX/XXXX I was back to full employment. I contacted their office to explain the situation and wanted to resume my payments but was told they would not accept a payment, I would have to pay the full past due amount. Why would I have to pay the full past due amount, I thought I was still in the reduced payment plan and under review??? It was very confusing and their customer service is just a mess. They would ask for more bank statements and pay stubs. I would upload them into the portal and then XXXX weeks later get a letter saying that the file could not be reviewed because of missing pay stubs and bank statements, even though they had OBVIOUSLY uploaded into the portal. This pattern repeated itself over and over. All I wanted to do was pay my regular mortgage payment but instead I went through this soul crushing process with your team. I received a denial letter in late XXXX. It did not list any specific reason that I was denied, it was a laundry list of items that did not seem to be relevant to my case and there were no details. I tried to call to get information on why this happened and what was the next step but could never get any answers. Next thing I knew I was receiving legal paperwork regarding the beginning of the foreclosure process.

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