- Report: #1216102
Complaint Review: Select Portfolio Servicing - Salt Lake City Utah
Reported By:
Dr. andrion -
St. Petersburg , Florida, USA
Submitted:
Updated:
-
Author Not Confirmed
Why?
Select Portfolio Servicing
Salt Lake City, Utah, USA
Web:
www.spsservicing.com
Categories:
Business Rating:
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Select Portfolio Servicing Escrow shortage scam Salt Lake City Utah
I need to start this by letting you know that I am a Physician, and I have never been late paying my mortgage, nor have I ever missed a mortgage payment. My loan was purchased by SPS back in November. I contacted them immediately after I had learned that they had purchased my mortgage. I immediately became suspicious of of their business practices following that call. I researched them on line and discovered that there had been 200 (+) complaints filed about their business practices, on here, as well as numerous other sources. Today I received an annual escrow analysis statement from them. It stated that I had an escrow shortage of $6,023.92. I immediately called them in order to find out what was going on. At first I was told that both my hazard insurance and my flood insurance premiums had increased. I instructed the representative that, that was not correct and in fact both premiums had gone down. She then put me on hold for about 10 minutes. When she came back to the phone, she stated that the increase was because my property taxes were delinquent so SPS opted to pay them. I again instructed her that, that was also incorrect as property taxes in Pinellas County are not due until March 31. She stated that SPS had received a notice from the Pinellas County Tax Collector in January, stating that the property taxes were delinquent. I asked her to send me a copy of that notice. She refused. Why? Because no notice was ever sent to them. This is just another scam that this company is running. They charge a $15.00 service charge for payments made online or over the phone. However, if you mail a payment to them, from what I have been reading, they always say it is late. You can have it auto debited at no fee, supposedly, however, they have yet to process the forms and I have sent in twice. My property taxes were $5882.01 in January when they paid them yet they are trying to charge me $6023.92. I was never notified of any of this prior to today. If you nickel and dime every person whose mortgage you hold, you can make a significant profit. I am filing a complaint with the Florida State Attorney General's Office as well as the FTC about their business practices.
