• Report: #282652

Complaint Review: SPS Select Portfolio Servicing

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  • Submitted: Fri, November 02, 2007
  • Updated: Fri, January 18, 2008

  • Reported By:purling New York
SPS Select Portfolio Servicing
Po Box 551170 Jacksonville, Florida U.S.A.

SPS Select Portfolio Servicing Payment, NEVER received, yet we have receipts from SPS Jacksonville Florida

*Consumer Comment: First Mutual Corp victim

*Consumer Comment: Purling, NY do some research on USA/Curry v. Fairbanks

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One year after we bought our house our Mortgage was "sold" to SPS, we were told we would get a welcome letter and a new account number from SPS when our file transfer was received, 2 months later and several phone calls later we still didnt have a file. I got frustrated and began sending our payment any way with a detailed description of who we were and what the money was for. We did start getting receipts but no payment coupons.

we received 3 receipts total, then we started getting letters from our original bank First Mutual NJ stated they werent getting payments sent to them, I kept calling and writing telling them they were no longer our bank so why were they asking for payments? no response from them. then we were served with a foreclosure from First Mutual saying SPS advised them they had NEVER received one single payment from us, and they were forced to buy back the mortgage.

I sent them copies of our receipts and copies of our payments theat were cshed. EVERY payment was cashed after the 22nd of the month. First Mututal despite receiving all of our proof went forward with the foreclosure, we did not have an attorney but submitted all of our evedence of payment to the judge believing she would see that we did nothing wtrong, She went through with the foreclosure and we had to file chapter 13. We have now been advised that First Mutual has rejected our chapter 13 and is clamining two years of arrears or surrender the house.

SPS has very obviously scammed us along with First Mutual. I am looking into Suing SPS for starting this whole stressful rediculous process through lies. Oh by the way after the foreclosure went through SPS sent a letter stating that they in fact did receive the payments and forwarded them back to First Mutual. Nice huh?

Anonymous
purling, New York
U.S.A.

This report was posted on Ripoff Report on 11/02/2007 08:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/SPS-Select-Portfolio-Servicing/Jacksonville-Florida-32255/SPS-Select-Portfolio-Servicing-Payment-NEVER-received-yet-we-have-receipts-from-SPS-Jack-282652. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

First Mutual Corp victim

AUTHOR: Janelle - (U.S.A.)

First Mutual Corp and it's employees have misled me into thinking they are "kosher". Their intent is to gain your trust by repeatedly expressing they work "directly with the government". However, their policies and procedures are not a good representation of "government" regulations. They "guaranteed" me a 30 yr, FHA fixed rate (6%) w/no points. However, when I saw the final application, it showed fees which totalled $12,000.00.

I never paid such a high amt w/my other lenders. I told my "loan officer", if you can call him that, that I would not pay the $375.00 appraisal fee if I didn not have guaranteed approval. He assured me that I was approved and to pay the fee w/my credit card.

Well, now after 4 weeks of waiting for a return call from ANY employee (including the CEO) of FCM, I finally recieved a call from MR in his voicemail message, which stated "J, I have already advised you 2 weeks ago, that we could not go w/the FHA gov't loan as your home is an "investment property". This was not stated 4 weeks ago. They are a big "thumbs down" for me. I would not recommend anyone to conduct any business transactions w/this company.

"J" from New Jersey
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#2 Consumer Comment

Purling, NY do some research on USA/Curry v. Fairbanks

AUTHOR: Mike - (U.S.A.)

There is info available on the case at www.ftc.gov. Also, feel free to drop me a line directly at foreclosurestory at getdshirtz dot com. That goes for any and all Fairbanks/SPS victims. I'm currently trying to find as many Fairbanks/SPS victims as possible to potentially address their "Best Practices" violations. The more victims that I can bring with me before Judge Woodlock in Boston the better.

If you run " Michael Dillon New Hampshire foreclosure " through your favorite search engine you should find plenty of information on me. Also visit MSFraud dot org for more info on Mortgage Servicing Fraud.

In actuality, it was more likely that just your servicing rights were sold to Fairbanks/SPS and someone else owns the note itself. If you did not receive any "hello" or "goodbye" letters from the old servicer and Fairbanks/SPS you have a RESPA violation on your hands. Per RESPA, you are supposed to receive a "goodbye" letter from the old servicer, a "hello" letter from the new servicer or a combination "hello/goodbye" letter now later than 15 days before the servicing rights to your loan are transferred to the new servicer. Additionally, after the servicing rights transfer, no late fees can be assessed to a borrower for a period of 60 days after the transference of servicing rights - again per RESPA.

Start looking for a good consumer protection attorney. Look through www.martindale.com and use the advanced search function. If you're near state borders at all look in the next state as well.

Anyone dealing with Fairbanks/SPS PLEASE feel free to seek me out and drop me a line directly. I've been fighting them for more than six years now and currently have a $13.5 million racketeering action filed against them in US Federal District Court NH. Feel free to confirm this at Justia dot com - Dillon v. Select Portfolio Servicing Inc. et al.
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