Mortgage -- Trouble during payment process -- Complaint #12607457
Complaint Overview
Complaint ID: 12607457
Company: Select Portfolio Servicing, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Fees charged
State: Florida
ZIP Code: 33411
Date Received: 2025-03-21T12:00:00-05:00
Date Sent to Company: 2025-04-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Initially I called and requested SPS apply my first payment to my account, as their records indicate I am past due. I mailed my first payment to XXXX before XX/XX/XXXX, which is what I was instructed to do ( per the enclosed letter from XXXX notifying me of the transfer of the note. Please see the enclosed documents ). Please note I opened XXXX accounts with XXXX, however this check is most assuredly for the XXXX the XXXX fairway, because the amount is the proper amount for the monthly payment on that property, and I references account number XXXX in the memo. Account XXXX was the XXXX account number for this loan. I have sent SPS multiple copies of the check that the original Servicer cashed, however SPS refuses to rectify the issue with XXXX, and are currently charging me late fees. SPS Claims the following : At the time the account was service transferred to SPS on XX/XX/XXXX, the account showed due for the XX/XX/XXXX, due date. The unpaid principal balance ( XXXX ) was {$280000.00}. Please note a payment was not applied to reduce the XXXX at origination or before the service transfer to SPS. In our review, you called the prior servicer and requested information on the payment. They returned the money to you directly via mail on XX/XX/XXXX. As the prior servicer did not forward funds to SPS, late fees assessed in the months of XX/XX/XXXX through XX/XX/XXXX totaling {$290.00} are valid. However every assertion therein is a lie. Firstly, I do not have a refund from XXXX. Secondly, I was never properly notified of the change. The letter ( attached ) provided by SPS advising me of the change is dated XX/XX/XXXX, which is AFTER I received the letter from XXXX that SPS has refused to acknowledge, and AFTER the first payment on this loan was made. Furthermore, the assessment of late fees is further improper and fraudulent, because even if I received a refund as SPS claimed, then that happened after the late fees were assessed and I still would not have been able to forward the payment before the assessment of late fees. It is curious that SPS is able to determine that I got a refund, however they are not able to properly rectify the issue with XXXX. This is not appropriate. SPS purchased the loan, and the first payment was misapplied by XXXX. SPS needs to get the payment from XXXX, and reverse any late fees and additional interest they charged me because of XXXX error.
Frequently Asked Questions
What is Complaint #12607457 about?
Complaint #12607457 was filed against Select Portfolio Servicing, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2025-03-21T12:00:00-05:00.
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.