Mortgage -- Struggling to pay mortgage -- Complaint #10744610
Complaint Overview
Complaint ID: 10744610
Company: Select Portfolio Servicing, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Struggling to pay mortgage
Sub-Issue: Foreclosure
State: New York
ZIP Code: 11354
Date Received: 2024-11-09T12:00:00-05:00
Date Sent to Company: 2024-11-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Dear Consumer Financial Protection Bureau, I am writing to formally request your assistance regarding an issue with the management of my escrow account by Select Portfolio Servicing ( SPS ). My escrow balance as of XX/XX/year>, was {$6100.00}. After making my regular loan payment on XX/XX/year>, including an additional {$540.00} escrow payment, the account should reflect a balance of {$6600.00}. However, SPS disbursed a late tax payment on my behalf and deducted an additional {$6.00} from my escrow account due to their own negligence. This error violates the terms of our agreement, under which SPS is responsible for managing my escrow account in a manner that avoids penalties and fees. As such, any late fees or penalties due to SPSs failure to disburse payments in a timely manner should not be my responsibility. I am requesting that the {$6.00} be reimbursed to my escrow account and that a sanction be placed on SPS for their unwarranted handling of my escrow funds. I have sent SPS multiple emails about this issue and have also contacted them numerous times by phone. I have recordings of these calls, which I believe clearly demonstrate SPSs predatory practices, aimed at undermining my property ownership. I am hopeful that the CFPB will address this matter and take appropriate action to prevent further misconduct by SPS. Thank you for your attention and assistance.
Frequently Asked Questions
What is Complaint #10744610 about?
Complaint #10744610 was filed against Select Portfolio Servicing, INC. regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2024-11-09T12:00:00-05:00.
How did Select Portfolio Servicing, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Select Portfolio Servicing, INC.?
Yes, visit the Select Portfolio Servicing, INC. company profile at readthecomplaint.com/company/select-portfolio-servicing-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.