Consumer complaint received 2021-12-14 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: SELECT PORTFOLIO SERVICING, INC.
State: FL

Complaint narrative:
On XX/XX/2021, I called Select Portfolio Servicing to confirm my Request for Mortgage Assistance was received, and a rep confirmed it was received and it would take 1-2 business days to review. At that point, the point of contact for my loan was XXXX and the customer service representative requested him to give me a call to review my file. On XX/XX/2021 I called Select Portfolio Servicing and a representative said she had no Notice of Default on file and I requested a call again from my point of contact. On XX/XX/2021 XXXX called back and said that there is a Notice of Default on file as of XX/XX/2021 and my loan is in active Foreclosure. XXXX stated that they would review my account for a modification if I submit a Request for Mortgage Assistance application and a hardship letter. On XX/XX/2021 I resent the Request for Mortgage Assistance application to Select Portfolio Servicing and a representative sent an email to my relationship manager requesting that I receive a call back. On XX/XX/2021 I called Select Portfolio Servicing and they said that my Request for Mortgage Assistance application was received on XX/XX/2021 and that the packet was complete and no additional documents were needed, and that they will notify the borrower of a decision within 30 days. On XX/XX/2021, I called Select Portfolio Servicing and a representative said no documents are needed and their underwriters are still reviewing the mortgage assistance application and they will have a decision within 30 day. I requested Net Present Value ( NPV ) documents to be sent to me. On XX/XX/2021, I called Select Portfolio Servicing and they informed me that I was approved for SAME repayment plan. I requested a copy of the documents for review. On XX/XX/2021, I called Select Portfolio Servicing, and they reiterated the repayment plan which is {$3100.00} which is double my mortgage payment. My Point of Contact is now XXXX and I requested a call back from her. On XX/XX/2021, I called Select Portfolio Servicing and they said that the modification was denied due to a failed NPV test. I re-requested those values as they were never sent to me. On XX/XX/2021, I asked for the loss mitigation supervisor, the representative said they can not transfer me, but they would send a message to them to call to call me back. On XX/XX/2021, I called Select Portfolio Servicing due to no call back from POC, the representative reviewed the NPV documents as Select Portfolio Servicing did not review my hardship or income and they failed the NPV test without calculating the allowed interest rate and payment reduction. The representative could not transfer me to my Point of Contact and couldn't explain why NPV was failed. I stated that the proposed evaluation from Select Portfolio Servicing shows that the allowed interest rate is 2 % with an allowed payment of {$1000.00}.

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