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Select Portfolio Loan Service / Rip off company

1 United States Review updated:
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An 85-year old lung cancer victim, and her disabled daughter are seeking an attorney who may be considering stepping into their case against Select portfolio Loan service, who is now officially considered to be in default by the San Diego Superior court. civil case 37-2008-[protected]-CU-OR-CTL, is a fraud, and breach fiduciary responsibility; law suite.

The company stonewalled the loan consumer and totally ignored their valid notice or rescission made in February of 2007. We hope to create some responsibility for breaches in fiduciary responsibility to an elderly loan consumer and a disabled loan consumer.

We can provide extensive legal research and detailed documentation to an attorney who might be willing to step in and finish up this IN PRO PER action, in return for a contingency 30% of the award which might be secured by a lien on the title. We have prayed for an award from each defendant of 2 million for combined actual, punitive, and compensatory damages.

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  • To
      27th of Aug, 2009
    0 Votes

    SPS has been a nightmare. My husband died in 2007, and in December 2008 the previous loan company (First Franklin) sold this account to SPS. The loan was in his name and they refused to accept the insurance I carried on the property or the tax record--all prepaid. They started billing me for those lender placed insurance and tax payments which were all at a very high rate. It made my payment jump about $400 dollars a month. Keep in mind, the insurance and taxes had been paid the previous year prior to SPS buying this account.

    I found another lender willing to refinance this mortgage, but once again SPS slapped on additional charges, a prepayment penalty, and the most discourteous customer service you can imagine. I told them that they were the worst thing that has happened to me since my husband's passing.

    It's almost like they get a strangle-hold on you and don't want to let you go. They enjoy the tortue and misery they put people through.

    I pray I can get out from under this company. I've already had a heart attack from stress realted issues, and I'm afraid they will be the death of me.

    Tondala Davis
    Panama City, FL

  • Da
      30th of Dec, 2009
    0 Votes

    To whom it may Tondala Davis, SPS has the most uncooperative loan agents I have ever experienced in my 20 yrs in residential property ownership. This company is poor in servicing a loan & unfortunately my loan was sold to these scoundrals a few yr ago & since I've been mislead & the info passed on to me was all wrong. When I threatened to file suit & a class action one I might add they reinbursed me 1, 800 $$$ toward my escrow & lowered my insurance payments, conveniently when I was ready to renew with ciitizens who took my annual premium from 1, 200 to 4, 200 after hurricane Francis & Gene... I decided to not renew & find another ins.carrier. SPS said I had up to 90 days to find another carrier & then they woud on the 90th day put me with their company they conveniently work with. well that was a lie after 12 days they assigned me to their ins comp. & never did they appraise my home to get the new market value. So they just kept ripping me off for a home that was once valued @ 170, 000 1 yr ago. Mean while I did not no I was insured with them until my statement came. allready They debited my escrow account which showed a huge - after their ins fees for the upcoming Yr. As we all no another scam they take our money a yr in advance & then chrge us interest on that to. Nevertheless The market went south & my home is worth 50, 000 now. So my ? to them was this. SPS are you in the mortgage business or Ins. business? Knowing they can't admit to covertly comingling with these ### they stuck me with! They did admit they were in the home mortgage business, but once again were not aqdmitting to their faults until the threat of CLASS ACTION SUIT. with all the other homeowners in the US that property value has gone down 50% or more & never were we informed of the fact that we are paying premiums for overisured property valeus.We are intitled to change our coverage based on new market value. I was insured for a HOME VALUED @ 170, 00 NOT THE TRUE MARKET VALUE. Once I sent ... my county appraisal & Tax info to them... they had to adjust the account & credit me. Their reps are uneducated & lack knowledge of the important information needed to service a loan. Perhaps they are not trained... that would cost this institution SPS money & we all no the people we talk to on the phones are not payed enpough money to give a rats ### about our loans...they don't even get payed enough to pay attention .They constantly interupt while I try to ask them questions. the answers to my ?s' are always... uuummm i'm not sure Ms Knox thats not my dept. They act like we are raping & pillaging their kin & I use the slang kin for a reason. The reps in the south are still throwback...the outsourced reps in India are a day at the beach compared to these hoky pokys! I don't even want to tell the new dilema about this bull S---t loan modification they solicitided me on that was declined...because it was not the correct loan mod for a Fannie Mae loan. Once again I was mislead due to ignorant employees. The word ignorant does not mean stupid... stupid can never learn... ignorant means lacking knowlege. SPS needs to spend the homeowners interest money they collect from us handsomely & educate the ignorant employees & send them to CHARM school. Lets get a class action against SPS My mother has networked with a huge attorney in Boca & sent him business to the tune of 9 million in law suits{ not related to motgage issues. } However from his lips to my ears & I Quote " I owe your mother HUGE... loyalty to your mother is what I stand behind." "What I can do for you...her daughter will be an honor." Lets get busy & bring these ### down.. They are just another institution run by our not so free country .They are Vipers & need to be outted. email me @

  • Bh
      20th of Jan, 2010
    0 Votes

    We took out a mortgage and unfortunately was sold to these ruthless snakes(sps).Our house had a severe mold problem, it has almost killed my wife literely, my daughter has developed asthma and no one could even breath .Our insurance company(PHENIX MUTUAL FIRE) refused to help us even though we had mold and mildew coverage up to $60000.Not knowing where to turn I called SPS and told them of the situation.They suggested a 90 day hardship program and set up monthly payment arrangements so we could afford a rent until we got the mold fixed.They forgot to mention that they were going to report me as delinquent for those months even though I made the payments as agreed and on time.Not one month went by that I did not make a payment and they still reported me late, now we need a house and my credit has been destroyed because of these jokers.My credit score went from 700s to 500 just because of this.Anyone have any ideas please help thanks

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