Mortgage -- Trouble during payment process -- Complaint #5364161
Complaint Overview
Complaint ID: 5364161
Company: Select Portfolio Servicing, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Massachusetts
ZIP Code: 01902
Date Received: 2022-03-24T12:00:00-05:00
Date Sent to Company: 2022-03-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My mortgage statement and payment coupon are not delivered to my house in time for me to make an on time payment on my mortgage. I have complained numerous times to Select Portfolio Servicing Inc.. The company representative states that SPS Inc. is within their rights to delay the generation of and mailing of my statement and payment coupon beyond the grace period date, and that the delay should be blamed on the United States Post Office poor service. The company makes no allowance for my reliance on the USPS to return payment timely. The company stated that if I were to return payment beyond the grace period date, I would be charged a late fee regardless of when my statement and payment coupon was received by me. SPS Inc. representatives state that I could sign up for their internet based payment method. This is unacceptable to me. I do not trust a company, that does not care enough to mail a statement timely, would care enough to safeguard my banking and other personal information online. I have to wait by the mailbox daily hoping that my statement and payment coupon will be delivered in time for me to immediately write out a check and return to them before the date a late fee would be charged or worse, be recorded and reported late to credit agencies. This intentional delay causes undue stress on me. This intentional delay unfairly enriches SPS Inc. as my payment is posted to my account, after the first of the month, every month. I would like the CFPB to address this important issue with SPS Inc.. SPS Inc. acknowledges slower mail delivery, it is incumbent upon this company to adjust the date that my mortgage statement and payment coupon are printed and mailed.
Frequently Asked Questions
What is Complaint #5364161 about?
Complaint #5364161 was filed against Select Portfolio Servicing, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-03-24T12:00:00-05:00.
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.