In 2020, this new CFPB received 1054 grievances up against SPS. SPS rated Number 36 one of the monetary enterprises for the most issues.
Letter from SPS dated XX/XX/XXXX, states … My payment currently is 3 % <>. New payment is 4 % <>effective XX/XX/XXXX and scheduled to go up XX/XX/XXXX, and again to increased to 4.125 % and is effective again on XX/XX/XXXX and scheduled increase again XX/XX/XXXX to <>. I had applied for a loan mod back in XX/XX/XXXX, with no results. SPS wasn’t clear with their requests each time they asked for additional info and I was returning info on XXXX paperwork, but later several months, found they wanted the info on their paperwork, even though info almost same, just not on their paperwork, so in the end my paperwork was thrown out. I had to start all over and this took me about a month to mentally wrap my head around the chore I had to do AGAIN, but after calming down and receiving their forms. I reapplied in XX/XX/XXXX, a few questions about my paperwork again, they seem to question my paycheck status, they question why was I missing paychecks, I explained I only worked two days in first quarter of this year and I highlighted the info describing that, like year to date # s. Then they said I wasn’t reporting workman s comp checks. I explained, I am not reporting because I am not receiving, they found that odd for me not to be collecting. I explained I only work one day a week and I don’t qualify, I only work one day a week because I am a full time mother to my XXXX year old with XXXX, trying to transition him into adulthood since the school district did not. Another reason I need help with my loan mod, because he has cost me $ XXXX recently for XXXX assessment and <>for XXXX XXXX XXXX remapping to help him deal with real world. Finally it was in underwriting and they questioned that again. Finally, I find it is in its 30 day time frame starting XX/XX/XXXX, I received a resolution on XX/XX/XXXX explaining they were ount they showed as income was <>= ,000,000>, when in reality it is <>, because I am not working nor am I collecting unemployment, this is a discrepancy, I called XXXX and they suggested I reach out to you.
Ailment Facts:
Full Grievance:The borrowed funds company will not mail me personally my comments in good quick style. I didn’t discover my statement until 5 days before my commission flow from.
Problem Details:
Full Complaint:From the first date, I have always included a partial pre-payment of my principle. When the COVID-19 Pandemic shut down XXXX Florida, I called Select Portfolio Servicing and asked them two questions ; 1 ) would they lower the variable interest rate, which they increased last year, 2 ) what options do I have if I have a problem making the payments Today, I received my statement. The pre-payment of <0.00>was unapplied, even though the mortgage coupon was clearly marked for partial pre-payment. Rather than following their customer s wishes, they continue to charge interest charges for the <0.00>( and future ) pre-payments. At XXXX XXXX, I called, I was informed that I was enrolled in their forbearance program and they told me that I could not withdraw from it. This is Forced Compliance of a Condition that was never agreed to.
Criticism Details:
Complete Criticism:In my own case of bankruptcy in 2011 my personal debt is never ever reaffirmed by the my bank back at my mortgage from the my lender XXXX XXXX exactly who after that transported so it financing to help you SPS Upkeep with this particular action not one from my percentage records is come recorded on my house mortgage for the past 7 decades really lenders you should never even know me personally as it doesnt demonstrate that I really keeps a property loan Hence it offers caused it to be hopeless for me personally to help you re-finance otherwise get a different sort of financing that have a lower life expectancy desire price except that usually the one that is becoming provided with my maintenance providers currently therefore im in able to accessibility my guarantee this has been taking place consistently
Team response:
We reached so it criticism about public archives of the Individual Monetary Protection Agency (CFPB). You could file your own complaint on CFPB here.