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ActiveAuditWon by SELECT PORTFOLIO SERVICING, INC.

Mortgage: Struggling to pay mortgage

Consumer Financial Protection Bureau

Source: cfpb
OverviewIntelligenceProposals

Key Details

Posted Date
Source
cfpb
Awarded To
SELECT PORTFOLIO SERVICING, INC.

Description

I was trying to obtain a loan modification with Select Portfolio Servicing, but they did not consider all the necessary documents to make a decision. I submitted my W-2 and tax returns, yet they declined my request with options that are not feasible and aggressive. They are also missing other documents, such as the XXXX XXXX for Mortgage XXXX XXXX XXXX and other documents. I feel that this company is not doing its job correctly ; they seem more focused on collecting money rather than considering the best interests of their customers. Last year, they failed to pay my property taxes, and I have the proof of delinquency notice from the county for non-payment of those taxes. I am looking to modify my mortgage properly and explore available options. I dont want to go back and forth like I did with the tax situation. By the end of the year, I will catch up on my payments as they currently stand. It would be best if we could modify my mortgage to a 40-year term to achieve a more manageable payment amount. With this modification, I would be able to pay down the balance over time with regular monthly payments. However, they are unwilling to work with me on these terms. Currently, they have a payment program that results in a larger balloon payment at the end of 3 or 6 months. Their practices seem aggressive and beneficial only to them, not to their customers. Additionally, I noticed that during a recent call, they inquired about my background, which I found concerning. I am willing to negotiate, but their practices raise questions.

Frequently Asked Questions

Is this audit still open?+
Yes — this audit from Consumer Financial Protection Bureau is currently accepting responses. Track it on Bureauify for deadline alerts.
How do I apply for this audit?+
Review the full solicitation documents on the source website (SAM.gov or Grants.gov), prepare your proposal per the instructions, and submit before the deadline. Use Bureauify to track the opportunity and get reminders.
Who won this audit?+
This audit was awarded to SELECT PORTFOLIO SERVICING, INC.. Use Bureauify to analyze this vendor's contract history and win patterns.

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Data sourced from cfpb

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Mortgage: Struggling to pay mortgage — Consumer Financial Protection Bureau | Bureauify