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Select Portfolio ServicingAwful company

F Review updated:

SPS is worse than fairbanks. and they have all these states hoodwinked into thinking that they are helping customers stay out of foreclosure with these 90 day 'stays'. i am now getting an attorney because they violated just about every term and condition of the settlement back in 2003. they are supposed to be open 7am-8pm EST monday through friday. well guess what they don't open til 7am MST which is 9am EST! and they are supposed to have staffed at all times a dedicated phone number for disputes-its a recording. the list is endless and now i am looking at circling the wagons for national class action suit. contact the press in your area your state senators your governors office and the FTC. there is a myspace account set up for victims of sps. time to take these same people that allowed fairbanks to run amuk down.

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Responses

  • Re
    Reginared69 Mar 10, 2021
    This comment was posted by
    a verified customer
    Verified customer

    In 2018 when SPS took over servicing our mortgage account we we in a repayment plan for 2 missed payments. We made payment every month for 15 months after my husband was laid off the job he held for 15 years and I had a high risk pregnancy we were struggling until finally we could not make 2 payments.

    Thankfully my husband found a job and we were able to do repayment plan. Our account was wrong from day one. The 2 payments we made in accordance with repayment agreement were not posted on our account the overpayment amount was not showing either. SPS wanted to raise the repayment amount by $1000.00 we said no.

    Since then, it has taken over 30 days to credit payments to our account. They are doing god knows what with the over payments we have been making, they have not handled these funds in accordance with their written policy which is on every statement. Payments are being added to the principal before being subtracted, no portion of some payments are applied to principal, interest or escrow. They agreed to give us a deferment for 3 months of payments the deferred amount to be added to the back end of our loan.

    The amount deferred is not equal to 3 months if payments. They added the deferred amount to the principal then subtracted it and have added the deferred amount to every month principal for 10 months. I have never seen or heard of a deferment handled in such a way. We can't figure out how that is a deferment.

    Plus they raised our payments normally after a deferment payments are lower. They call everyday demanding payments stating we are behind in payments.

    We have enough letters demanding payment or threatening foreclosure that must have killed half the rain forest to send us. I think that's about all the problems we are having...for now that is.

    User's recommendation: Run. Run fast run far from this company.
    I have been trying to find someone willing to take on a class action lawsuit against this company but have had no luck yet...but I will prevail.

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  • Ba
    BarbaraJ.Wright Jun 20, 2020

    I just started with SPS... They bought my mortgage from NationstarAka Me. Cooper. Nothing but trouble both of these companies. I had been behind to Mr. Cooper so, before I Officially started making payments to SPS I contacted Mr. Cooper and paid everything. I spoke with a woman and she took my payment g she gave me a confirmation number. After SPS took over March 1st. 2020 I contacted SPS to be sure I was paid in full and had no later charges etc. I called 3 times. Then in May 2020 I got a call stating I owed for 5 months. I talk with a guy who added a call from Mr. Cooper. 3-way... I told them both I paid, received a confirmation number. I also told them I paid by Debit card. Mr. Cooper only takes Bank account info. No Debit cards. So apparently the woman staffer used the info and stole my payment. Now SPS wants the money so I'm caught up. Unbelievable.. These companies should be closed by the FTC!

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  • Bi
    Bishop T Jan 23, 2015

    Did anyone experience Select Portfolio keeping their Earnest Money while attempting to purchase a property? How about attempting to retrieve it and them only releasing one half of your money. We were forced to sign docs under detestable conditions. We lost $3, 000 and made to accept $500.

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  • Su
    SUSSAN SIMITH Aug 05, 2014

    we need to come together and expose this chain of co- operation, fraudulent entity's they are backed by some of this judges, until we start by exposing some of them eg judge lynnn Hudges in the federal district court in Texas, he is a bias, careless, prejudice, inconsiderate, wicked without a human heart etc. his action in making a home owner and the families homeless regardless if there are children involve, he act as if he is the ceo of the banks and, we need to come together and conduct an investigation on him and his workers and pettion this judge that is misusing his office of authority for his remover from the office that he hold . we need a knowledgeable judge who has a good idea of the fraud that this banks/lenders /services are committing against us . we as the home owner of this great country, do not need any judge like this one mention above, we need to stop their conspiracy's to defrauded us the home owners or else they will continue to do this to us am ready, pls send pet ion am doing mine right now.we need to come together and fight for our right .

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  • En
    Enforcer 13 Apr 01, 2014

    Been with SPS since 06. Nothing but problems. Have been trying to modify after becoming disabled. It has been 2 years of lies delays misleading answers lies and just plain ###. I would have been treated better going to a loan shark. Looking to join a class action suit

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  • De
    Dearperth Feb 16, 2014

    I have been dealing with Select Portfolio since April 2013 after Chase transferred the loan to them. I fulfilled my obligation with Chase and Select Portfolio by paying over 3300.00 dollars. After providing Select Portfolio all the documentation they requested they still continue to find reasons stating that I’m behind one month. This is not even half of what I want to post. When thinking about all that I have been through with Chase and Select
    Portfolio it causes me anxiety.

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  • Pa
    pat g Feb 08, 2014

    My loan was assumed by SPS from BofA in September 2012. They sent me a letter saying it was $3600 in arrears. I immediately called them and sent them proof this was not even close to true. I sent their legal department bank statements backing the fact but they continued to report it 90-120days late. It took BofA over a year to sent the final $2264 of payments that I had made but these fools including Matt Hollingsworth, CEO, continue to ignore the fact it had never been over 30 behind and report it falsely. In October 2012 SPS started another modification and was complete except for the paper work in June 2012. Yet, as much as 6 months later they continue to show it 90-120 behind. These guys are worse than First Universal Lending that the FTC shut down several years ago for the exact same kind of violations.

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  • Au
    autobodydoc Dec 28, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I have tried for over two years to have my mortgage modified only to be told i needed to give them $5, 000.00. In good faith for the loan and only two days to do so.I to have had to do endless paperwork several times over and have been told different things each time we enquired. The best one was not to pay our credit cards till we reached a deal for modification which has led me to bankruptcy for the credit companys have gotten judgements against me.and still the best part is i can afford my mortgage and pay my cards but when your mortgage i$s 675, 000.00 and your home is only worth285, 000.00. And your still willing to stay but sps still wants.to.foreclose.CAN ANYONE EXPLAIN HOW THAT MAKES SENSE

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  • Ro
    [email protected] Oct 02, 2010

    PS You can sue them Pro Se(yourself as Attorney) if you can not afford an attorney! There are website coming up with videos and doc's to help you sue. Google Pro Se litigation Mortgages. There is one site in there very good based in Florida. Neil Garfield living lies site has forms, info, seminars, videos, and chat on what to do. Get learning!

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  • Ro
    [email protected] Oct 02, 2010

    Please go to Homeowners Against Mortgage Servicing Fraud on Facebook to chat. We have info for Contimortgage victims that got Fairbanks/SPS too. Check out CFNTRUST.Com to see they liquidated and shut down the trust for Conti in bankruptcy. SPS bought servicing from the court so, check your mo'ly sttaements to see if they list themselves anywhere on it as DEBT COLLECTION AGENCY with a license number. There may be no loan note owners??? The trust got permission to destroy 40, 000 doc's of mortgage related info!!! Was your original loan in one of those boxes? Fight back USA!

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  • Sc
    Screw Select portfolio Jul 27, 2010

    Select Portfolio is by far the biggest company of lying, cheating, no good sons of [censor]es. For over ten years they have ruined our lives. We have caught them in so many lies you can't count that high. We even had a sawed off runt come to our door and threaten our lives and threaten to do something to our house with us in it if we didn't pay them extortion fees that were on our bill every month for no reason. We tried to get an attorney but was told we needed ten thousand dollars for a retainer, we don't have that kind of money, so we took them on pro-sa.We lost our case(judge didn't know how to make a ruling) so we took it to the supreme court and won our appeal.Now, we get to start all over again. I'm not a violent man but I would love to have that sorry [censor] Matt Hollingsworth in my gun sites, that man told my wife and I that "Select admits to messing up and I personally will see that it's taken care of by clearing all fees and he would even make that months payment) LYING Sack of [censor]!!!And I would love if some one from select would try to sue me for what I'm saying I'll wait for ya...Still waiting ...still heeeere!!!

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  • Sq
    SquiddieKing81 Apr 15, 2010

    Actually, to make a complaint you should be calling 1-877-FTC-HELP, [protected]. Response is faster.

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  • Sp
    SPS SUCKS Mar 19, 2009

    I found a site where people are starting to take action against SPS.That is what needs done.

    http://selectportfolioservices.blogspot.com/

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  • An
    Anonymous Feb 02, 2009

    Select Portfolio Servicing (AKA Fairbanks Credit/Credit Suisse) is actually run by crooks who prey on unfortunate home owners by forcing foreclosure on them. This is how it works: When they foreclose on you they buy back these houses at $1.00 from the government and they get to write off the entire balance you owed as bad debt (therefore tax credits). Therefore to open everyone’s eyes I must say it is a win-win for them when the house is foreclosed as there are no potential buyers they are guaranteed to keep the house at no cost plus whatever you have paid them made them millions already. This is exactly what the investors waited for all this time. When these guys get to keep your house for $1.00 they can rent it by themselves and make tremendous money just by doing so. Not to mention when the economy turns around these guys will flip the houses left and right for million percent profits. Makes Sense?? Banks are run by people & where money & future potential is involved people will do anything to get what they want.

    I am very sorry for all of you guys as Select portfolio is the perfect company to work with for the crook banks as there is a legal loophole which says the servicer cannot do a loan modification as they only have the right to service them and bring the investor bank what the homeowners have signed for. It's a win-win for the banks and loose-loose for us.

    To make a complaint with the FTC please call this number:[protected] and we should all get together and file a class action lawsuit against both the lenders and Select Portfolio Servicing. Good luck to all.

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