For those who have an issue with SPS, you’re not alone
Into the 2020, the fresh CFPB received 1054 complaints against SPS. SPS rated Matter 36 one of the monetary companies 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 cash advance payday loans Choccolocco, 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.
Complaint Information:
Full Problem:The borrowed funds organization will not send myself my comments in the a great fast style. I did not located my report up until 5 days just before my payment flow from.
Issue Facts:
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 Info:
Complete Complaint:During my bankruptcy in 2011 my personal loans are never ever reaffirmed because of the my personal financial on my home loan from the my financial XXXX XXXX exactly who following moved this mortgage to help you SPS Repair using this type of action nothing out-of my commission record are started recorded on my family mortgage for the past eight decades extremely loan providers cannot even admit me personally because doesnt demonstrate that I really enjoys property mortgage Therefore it has got managed to get impossible for my situation to re-finance or get a different type of financing with a lower life expectancy notice rate besides the only that is getting provided by my personal upkeep business at this time therefore i’m inside the capable access my personal guarantee it has been happening for many years
Organization reaction:
All of us reached which issue from the social archives of User Financial Safety Bureau (CFPB). You could potentially document their criticism on CFPB right here.