Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #5224489
Complaint Overview
Complaint ID: 5224489
Company: Select Portfolio Servicing, INC.
Product: Mortgage
Sub-Product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Ohio
ZIP Code: 44601
Date Received: 2022-02-15T12:00:00-05:00
Date Sent to Company: 2022-02-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
On XX/XX/XXXX I contacted Select Portfolio Servicing regarding forced insurance and balloon payment that was placed on the back of my loan. I requested documents regarding the original modification. I requested information regarding for the forced place insurance and was never informed by letter regarding the forced place insurance being placed on my loan. I requested the letter regarding the forced place insurance and have yet to receive that information. I was advised that they would have to research to locate documents. I made the attempt to refinance property to make major repairs to the dwelling however I was denied due to the appraisal value of the home being XXXX which is lower than what my payoff amount of XXXX not including an undisclosed balloon payment amount that I have yet to get information on. My current interest rate is over 6 %. On XX/XX/XXXX, We have attempted to sell our home and requested a reduction in payoff for XXXX. I was advised on XX/XX/XXXX that the request for reduction was denied due to the mortgage not being 90 days past due. We have received multiple offers for XXXX for the property. I feel that is unfair and unjust that I have made my payments on time with my failing health and my age, I feel that my lender is taking advantage of me and my situation.
Frequently Asked Questions
What is Complaint #5224489 about?
Complaint #5224489 was filed against Select Portfolio Servicing, INC. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2022-02-15T12:00:00-05:00.
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.