Select Portfolio Servicing

Not liking the previous reviews about this company. Our mortgage was taken over by SPS effective the first of Dec '19 and so far the only issues were - a delay getting anything from them RE the change, compared to 3 or 4 letters from Caliber.

Only other issue turned out to be none really - because of the delay hearing from SPS I sent the Dec payment (actually January's) to them via the billpayer service at our bank using the Caliber account # and SPS info on the Caliber letters.

A week after the Dec (Jan) payment was sent, we got a letter from SPS about the new account number, etc. so I called SPS to find out what happened to the payment. The rep couldn't find it but assured us it would make it to the right place and effective date. A couple days later we checked the account online and the payment had posted -- effective the correct date.

I REALLY wonder why so many people complain about paying to make a payment online - how do people get along without a bank account these days, or even just a prepaid debit card - sad really

Worst ever met.
please read carefully all the previous reviews.
there two 5 reviews is fake

All, please NEVER EVER use SPS as your mortgage company! SPS is a vampire, who charges my dollars to the escrow account all the time, but they don't pay my property tax on time. I checked the property tax on the local gov website and I found I was charged a hefty interest because SPS doesn't pay my tax.
I called them to get the reimbursement for the penalty due to their fault, however, they said it's not their responsibility but it's my lender's. My lender transferred my info to SPS 2 months ago, but SPS said their transfer is still underway, what?!
They made a mistake on my SSN, so I can't get access to the website to manage my account for 3 months. I sent my SSN copy to their only available email address, relationship.manager@spservicing.com, trust me, this email address is ghosting, and no one would reply to you at all.
I called them every other day, and each representative had a different answer to me, someone said it would take 24-48 hrs to update my SSN, and someone said it would take 30 days. But, it's been 60 days and I still can't get access to the website. Now, I have to make a call for the payment every month till they can update my SSN in their system in 2050, or afterward.

Select Portfolio Servicing will lose your paper checks.
SPS will also lose your faxes.
Typically takes 6 to 8 calendar days to post at their end.
For November 2023, nearly 14 days passed before cashing checks. This is too long a wait as I canceled checks yesterday same day SPS cashed my check.
Advised SPS I canceled checks and issued new checks November 10, 2023. I still have a week before late fee assessed. Don't trust SPS to apply overpayments to principal as they may send partial overpayments to a black hole called Suspense for unapplied amounts.

I have loan with them worst company. I already paid 20 percent still not escrow removal

Charged for employee's incompetence. No reasonable path for reconciliation that was not an inconvenience to me. Absolutely unacceptable. Poorest customer service ever experienced.

Horrible company that my mortgage was sold to. They charge fees to pay ur own mortgage. Customer service sucks

I wish my loans were not with SPS.

FAILURES w/ LOAN TRANSFERS:
Of my 3 loans that were sold to SPS by another lender, one (1) loan transferred without a glitch. The other two (2) loans had payments lost during the transition and the loans themselves were lost for 3 months where neither lender had the loans in their system.

I submitted proof of payments to SPS twice for each loan... and they would never apply the payments, or work with the old lender to resolve this. As far as SPS was concerned I still owed these funds. The only way this was resolved was when the old lender got involved and it took months or follow-up with SPS and finally, a 4-way call where the old lender walked SPS through the payment transfers, dates amount etc... to get the funds successfully transferred.

Then.... payments for two of the loans (when transferred) were applied to different loans! How does that even happen?.. the address and the payment amounts don't match... but somehow SPS applied payment from the old lender to the wrong loans!

It took a year to get this fixed. and 14 months later there are still late fees from the initial loan transfer payments not voided. I've called SPS twice and can't get this resolved when they said they already were.

CUSTOMER SERVICE: horrible. I can't even reach the same person to follow-up on an issue and had to start over each time I called in... even though I could supposedly ask for them by extension or ID #.
I was on the phone for an hour or two every month or so for a year.

ESCROW:
As typical with loans escrow funds have to be adjusted with taxes and insurance adjustments. However, the statements I receive from SPS that state the increase in funds are X... when added to the old payment, never add up to the new amount due. I called SPS twice to inquire how as an example a $1000 monthly payment with an escrow increase of $25 creates a new monthly payment due of $1,062.32.... they can't even tell me. With three loans and multiple escrow adjustments, the statements never add up.

This company is the worst, they over charge me for about 2 years now in escrow, about $500 per month that's $6000 per year! without any real justification, I did contact them many many times via phone, certified letter, give them the full brake down but they don't care, I am 100% right, 2 different accountant also did check the numbers and I am right, they over charge me. They answer is you pay or we will forclose you. I never missed a payment and never will, I have no choice than to file this report now!
After many calls, they refuse to transfert me to a manager as well. Thay are really the worst in the industry. They scam you, take your money and tell you that you have 0 right!
Before you do a mortgage, make sure that company will not be the one that will take care of it after, otherwise you might end up paying much more than you should.
Can't believe those scammer are still out there!

This company overcharged me by $10,000 in insurance fees.. which they admitted. Now they refuse to refund me. MAKE SURE TO FILE A COMPLAINT WITH THE CONSUMER FINANCIAL PROTECTION BUREAU!!! This is extremely important for all of you reading who have likely also been defrauded by this horrible organization.