Mortgage -- Trouble during payment process -- Complaint #5200177
Complaint Overview
Complaint ID: 5200177
Company: Select Portfolio Servicing, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Georgia
ZIP Code: 30016
Date Received: 2022-02-08T12:00:00-05:00
Date Sent to Company: 2022-02-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XXXX of XXXX Select Portfolio Servicing paid my homeowner 's insurance a month before it was due. I was going with a new company due to a lower rate. I contacted SPS and they informed me that they had paid the previous company the higher amount. At that time they paid the new amount out of my escrow account. The old insurance sent me a refund and I sent SPS {$1300.00} via my online bank stating escrow only on XX/XX/XXXX. This payment was applied to monthly payments. I have been contacting them since then when I receive my monthly statement and it has not been corrected. I am told it has to go for review and will take 30 days for approval to be placed back into my escrow. On other occasions i am told that an email has been sent to a supervisor to escalate the situation. I ask to be sent to the escrow department and the representative tells me she is the escrow department. They also state a manager can't help me. I have been transferred to managers who state the same thing. " Let me email my manager to escalate this. My escrow analysis arrived in the mail that shows my payment will increase from {$620.00} to {$680.00} to cover the {$1600.00} escrow shortage. Even though they show my insurance and taxes have decreased. This is the second increase since they took over servicing my account. My escrow never increased while through XXXX. I even set my payments to be {$50.00} extra towards principal every month. I am needing someone to help me correct this issue because they are not moving the money into my escrow. My statements still say I don't have a payment due until XX/XX/XXXX. As of this date my second installment of my property taxes have not been paid. I just found out that my property taxes are now late as well. I never had an issue with my prior company. XXXX XXXX XXXX Select Portfolio Servicing Account number:XXXX
Frequently Asked Questions
What is Complaint #5200177 about?
Complaint #5200177 was filed against Select Portfolio Servicing, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-02-08T12:00:00-05:00.
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.