Mortgage -- Trouble during payment process -- Complaint #5260054
Complaint Overview
Complaint ID: 5260054
Company: Select Portfolio Servicing, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Georgia
ZIP Code: 30088
Date Received: 2022-02-24T12:00:00-05:00
Date Sent to Company: 2022-02-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
In XXXX of XXXX, I decided to refinance my mortgage because it is an adjustable arm, and I want a fixed rate since my current mortgage payments continue to increase as rates rise. When my new potential lender asked for documents to secure the loan, I was able to submit all but my current mortgage statement from Select Portfolio, my current lender. On XX/XX/XXXX, I accessed Select Portfolio 's website to get a copy of my current statement only to discover that it was incorrect and was showing that I was 2 months behind on my mortgage payments. I immediately contacted Select Portfolio that same day and was told that 2 of my mortgage payments were applied incorrectly, and that the issue would be escalated to make the correction before the XXXX statement was available, and that the statement would reflect the correction. However, since then I have been receiving foreclosure notices and threats that my account is being referred to an attorney for possible action. Since XX/XX/XXXX, to XX/XX/XXXX, I have made over 20 calls and over 10 calls to Select Portfolio 's Ombudsman dept ( dept to call if your issues have not been resolved ), only to be told the same thing over and over again, " that the issue has been escalated and should be corrected by the next statement ''. Still, 3 statements later the correction has not been made. I have lost my 30-day interest lock in rate from the new lender, and my mortgage payments from current lender are scheduled to increase next month, XX/XX/XXXX. I am a retired senior citizen on a fixed income, and all I want is to for Select Portfolio to correct THEIR mistake so I can refinance my mortgage and have a payment that is affordable. It is very stressful waiting for Select Portfolio to correct their mistake, and I feel that it is unreasonable and unethical to take as long as they have to do so. It is as if they don't even care that my refinance is hold because of THEIR mistake. Please get this issue resolved soon.
Frequently Asked Questions
What is Complaint #5260054 about?
Complaint #5260054 was filed against Select Portfolio Servicing, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-02-24T12:00:00-05:00.
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.