Select Portfolio

by Anonymous From Gulf Breeze, FL on November 04, 2009

As I sit here and read through all of these complaints it just saddens me I have to say My husband and I are in the same boat as most we ask for SPS to help up work out a lower payment to no await that wont happen. What really saddens me though is the fact that Select Portfolio is actually Fair Banks, and my husband and I almost lost a home to them in TN, when we finally sold the home and relocated we received a letter and a check in the mail, Fair Banks had a class action law suite bought against them for illegal practices. Go figure.

by Anonymous From Pinehurst, TX on November 03, 2009

Not very helpful to their customers at all!

by Anonymous From Magee, MS on November 02, 2009

by Kelly Allen From Verona, PA on November 01, 2009

They are just plain incompetent and unprofessional. You might get one person out of one thousand who seems helpful, but most of the representatives are nincompoops and are most likely not trained or paid well.

by Anonymous From Morgan City, LA on October 28, 2009

by john byrns From Anaheim, CA on October 27, 2009

I asked SPS to help me and they would not at all.

by Hartnett From Onondaga, MI on October 26, 2009

People who have Select for their mortgage need help. Please government help us. People who have Select lose their homes.

by michelle carman From Oklahoma City, OK on October 24, 2009

My mother had passed away before we could have the mortgage switched into my name. SPS will not talk with me unless I act like my mother. The house suffered some hail damage and I was instructed to send the ins check to them that has been a month ago, they have not sent it back, I was behind on payments and was instructed to send them 3,000.00 did so over a month they took the money but did not apply to the loan and now are telling me I have to pay another 1900.00 for the attorney fees. can anyone help me????

by ddixon11@indy.rr.com From Marion, IN on October 20, 2009

My husband and I got a loan from option one,sold to equicredit, sold to fairbanks and now in the hands of sps. My husband died suddenly in 2001. I had 15 surgeries between 2005 and present. This SPS co. is the worst!!! I have been promised work out solutions over and over only to go deeper in debt each time. When I asked about the federal home modification SPS said they knew nothing about it. I paid $3,000 in January 2009, $2,000 in February 2009, $2,000 in March 2009, $2,000 in April 2009, $2,000 in May 2009, and $2,000 in June 2009. I quit! My balance keeps going higher. First of all I never opted to do business with SPS, yes I know their are "hidden clauses in most contracts that allow them to sell your loan. I originally financed 70,000. in 1996. For several years when I could I actually pd. an additional 200.00 extra per month to lower my principle. NO CREDIT was applied. These people are the biggest crooks. Same story I have been charged for ins. which I have always pd. outside the loan. Every time I got behind I was charged a minimum of 2500.00 for attorneys fees often times never even receiving a correspondence from an attorney. Although my interest is added on each month every December an additional 5,ooo. to 7,000. is added on to my loan as additional interest. I recently was contacted by 2 separate loan modification companies only to learn that they too are scams. Anyone with real help solutions please help. Lets work together. I will die trying to nail these people.

by donham,k From Las Vegas, NV on September 23, 2009

sps is a FRAUD, since 2-2009 we have been trying to get our home loan modified do to the fact or son has a heart condition and i need to stay at home to care for him which leaves my husband to care fore the six of us , we clearly do not make enough money and according to hud we would quilfied for the home affordable modification, sps told us they never recived our paperwork ( which is funny cause we certified mailed it) so long story short letters, faxes and probally over fifty phone calls we were denied a modification the first time because they said we did not make enough money, second time they denied us because we made to much money (husband still at same job no change in income) so in june 2009 we stoped paying our mortgage, we wernt asking them to lower what we owe just get us into a fixed rate with a mortgage we could afford there our houses in our neighborhood that is $140,000 less that what we owe.so in 8-2009 we get a letter stating that they we did qulify for the modification WTF, ok really well since we have lived in our home for over 10 years of corse we wanted to do this i mean we have been trying sice febuary ok so we send in our 1st payment along with all the required paper work we think ok finally this drama and fustration has come to an end O NO NOT WITH SPS, THEY IN FACT DID NOT PUT US IN A MODIFICATION PROGRAM THEY HAVE US IN A FORBEARANCE PLAN you have got to be kidding???? so i call sps thinking there is some sort of error no what i was told either pay the forbearance agreement or MOVE...SPS IS A FRAUD THIS COMPANY SHOULD NOT BE ALLOWED TO DO THIS TO ANY FAMILY THE GOVERMENT NEEDS TO SHUT THEM DOWN!!!!!!!!!1

by michael ferrari From Irvine, CA on September 15, 2009

by Anonymous From Oregon City, OR on September 09, 2009

My 1st and 2nd mortgages were sold to Fairbanks/SPS in 2003. Over the years they added on thousands in bogus fees, including appraisals that were never done. When I pressed them for a copy of the last one, I finally got a report on a house in Mississippi. They have repeatedly force placed insurance, despite my always having full insurance. Then they won't refund the charges. My refinance funded today, and they screwed me one last time by submitting a revised payoff amount at the last minute for $3k more than what was given last week. I learned about it from the title company after they paid it. I had no chance to review it, and have no idea what they claim this money is for. They essentially held my house hostage and stole $3k from me. After 10 years of payments, I owed more than $10k more than my original mortgage. Nothing more than criminals.

by Anonymous From Houston, TX on September 09, 2009

This company is nothing but a Predatory LENDER. They will make you a loan knowing you can't afford to pay in order to steal your house. They know if you can't afford to pay for your house you certainly can't afford to hire a lawyer when they try to repo it. They lose payments, charge you fees for things that are ridiculous. They will charge hundreds of dollars for drive bys. Why do they need to drive by and look at your house? Like it is going somewhere. They have changed their name because of law suits and already lost a class action suit. Good luck on finding out who actually owns the note on your house. I read comments that claim they don't make money by taking your house. They make all the money you paid in notes. They will charge off thousands in taxes they claim you owe. Then will buy your house at auction for pennies on the dollar when they foreclose. They will either sell it or rent it till the market goes up enough to make a handsome profit. If you research them on the internet you will find very few who will say anything good but you will find thousands who all say they are crooks. If they have your note I feel sorry for you because I don't think you could borrow enough money to pay them off.

by Anonymous From Taylor, MI on August 20, 2009

they like everyone else seems not care if someone like myself has a child in the military serving our country who may not have a house to come home too I'm trying my hardest to keep my home but it is tough i really could use some help not just for me but for my son

by JANIS CARTER From Rising Fawn, GA on August 17, 2009

by Anonymous From Morrisville, PA on August 07, 2009

Select has drafted a fraudulent mortgage contract on my property then they tried to use it to foreclose on my property then they tried to get me on a tax sale which also failed

by Anonymous From Toledo, OH on August 05, 2009

Here's an idea. I hate this company as well. Glen Beck is currently looking for people ~watchdogs~ for people or companies that aren't doing things right. Email or send a letter to Glen Beck and your congressmen (like that would help)

by Frederick, MD From Frederick, MD on August 04, 2009

Our loan was bought by SPS. My husband lost his job the end of Dec 2008, we notified SPS, the first of January '09, of our financial situation and kept them informed. My husband was out of work for 3 months. In that three months we asked SPS work with us on a possible loan modification. They talked a good story at first but nothing ever materialized. We provided the financial statements and anything else they asked for (It's a Fannie Mae loan). Twice we were lied to, that we qualified and that they would be sending the paperwork which never came. When we called back, we were told we were rejected and would need to come up with more income or lower debt ratio, etc. My husband is the only one on the note, so he would speak with them, every time he was on the phone with them, it was a different person who did not read the notes before calling and would ask the same questions. They would not agree to a short sale. They would be 'snotty' on the phone telling us what we should do, then send letters stating they were willing to work a loan modification if we would just contact them. OH my gosh! It was horrendous dealing with them at which time, after consulting with a loan mod lawyer, the decision was made to file bankruptcy which is not what we wanted to do. I have consulted with people I know who work for banks in the Loss Mit departments who told me SPS is one of the worst, not ethical and had a reputation for lying. Too bad you can't choose who buys your loans.

by Anonymous From Modesto, CA on July 27, 2009

Your complaints need to go to the head, the decision makers, i think if you flood them with complaints they may actually do something about it. I think SPS just has the servicing rights to the loan but the lender holds the note, you can compplain to the note holder about the servicer. You can always find executive data on the company's website or internet.

by john From Modesto, CA on July 27, 2009

Your complaints need to go to the head, the decision makers, i think if you flood them with complaints they may actually do something about it. I think SPS just has the servicing rights to the loan but the lender holds the note, you can complain to the note holder about the servicer. You can always find executive data on the company's website or internet.

by T. Miller From Melbourne, FL on July 23, 2009

by Kim From Washington, NC on July 23, 2009

Last June we entered into a modification agreement with First Franklin. We had to make three payments in July, August and September before they locked in the new modification rate. When we called after making our last pre-modification payment we were told our loan had been purchased and we were to contact Select Portfolio on October 1st. Basically after calling them week after week for a month we finally called them so we could send them a payment for October only to be told that we had made a payment. Wrong... Apparently all of our escrow money was send to Select Portfolio and they applied it as the October payment so there went our insurance and tax money. Next, they advised us that based on their records we could afford a $1800 a month house payment. We told them we couldn't and basically we would be setting ourselves up for failure. They refused to honor the original modificaiton agreement set up by First Franklin. Well, in January we were unable to make the $1800 house payment which was almost double from what the original modification agreement was. Since January we have been trying to make payments as we could but I also took a 3.50/hr pay cut in January. We made a payment on the July 2nd and the folks at Select Portfolio wouldn't even talk to us on the phone. The following Thursday we were served with foreclosure documents and apparently they had started everything in late April but never advised us. We would have been able to save our house if they would have just honored the modification agreement. It's a shame that these folks aren't working with their customers and I'm curious to see how many others are at the mercy of Select Portfolio. The other part of this is apparently First Franklin advised us that we were not the only ones that had this problem with Select Portfolio not honoring modification agreements. I'm really not sure how these folks stay in business since I have heard so many terrible things about them and they are extremely hard to work with. Heck, they don't work with folks. After telling an attorney who I was dealing with his response was, "No wonder you guys are having such a hard time. Select Portfolio is the worest." So I guess they just continue to live up to their name.

by Alma Schultz From Rio Rico, AZ on July 05, 2009

by john nagy From McDonald, PA on April 11, 2009

by Kerrie Gilmore From Sikeston, MO on March 24, 2009

by Anonymous From Gwynn Oak, MD on March 20, 2009

My mortgage was with ACCREDITED HOME LENDERS for 3 years and was sold to SELECT PORTFOLIO just when I had began to work things out with AHL (through gretchen fox DO NOT TRUST THIS COMPANY!They have made the situation even worse)after falling behind in my mortgage payments. In the middle of my payment plan processing, the mortgage was transferred to SELECT PORTFOLIO. Called them to explain the situation and they said I would have to "re-apply" with them. First my ratio was too low, now it's too high and the only offer they keep stating is a short sale. In this day in age when people are desperately trying to honestly work something out to save their homes, the are NOT VERY HELPFUL and are very DIFFICULT to work with!

by Obama's plan was supposed to help me! From San Diego, CA on March 18, 2009

Our mortgage was previously with ACCREDITED HOME LENDERS for five years and just recently was sold to SELECT PORTFOLIO SERVICING just at the time when we started to fall behind in our mortgage payments. We were in communication with ACCREDITED HOME LENDERS regarding our financial situation and they were very helpful in placing us on a payment plan to allow us to get current on our mortgage. In the middle of our payment plan, our mortgage was transferred to SELECT PORTFOLIO SERVICING. I believe it was a strange coincidence that my loan was transferred at the same time I started to have difficulty making payments. SPS is now not honoring our payment plan we had with AHL. Also, after inquiring about the AFFORDABLE HOME MODIFICATION PROGRAM and providing all of our financial information, we were told we were ineligible for a loan modification because our "ratio" was too high. When I provided SPS our income information and our debt information, we were not negative. But according to SPS’s “ratio” were negative over $1000. When I asked about how the ratio was calculated, I was told that SPS does not release the formula details of the ratio. I was told by SPS that my request for a loan modification was "unrealistic". I spoke to two representatives from SPS, and I was told the same thing by both. The representatives from SPS that I spoke with were unhelpful and had condescending tones in their voices when they were asking for my financial information, as if I was lying about the information I was providing. At the end of my conversations with them, they did not offer any suggestions on how to improve my situation. I am in tears because the promises of the AFFORDABLE HOME MODIFICATION PROGRAM are not benefiting my family. SELECT PORTFOLIO SERVICING was NOT helpful. I am writing our local representatives for assistance. Please help!

by Anonymous From Tacoma, WA on March 17, 2009

we dealt with this company back in 2006, We were going to foreclosed on, so I contacted them and asked for a loan modification - they said that they don't do loan modifications, Long story short, an investor bought our home, and we are now trying to buy it back after paying a large amount in rent for the last two and a half years. We didn't know our loan was sold to them in the first place. They are nothing but con artists. However, once your loan is sold to them, you have no recourse. I am going to try and pursue a lawsuit against them.

by Anonymous From Walkertown, NC on March 16, 2009

I spoke with Select Portfolio Servicing, Inc and they said they do not have to comply with President Obama' Mortgage package because the are not a mortgage company. If that is the case Mortgage company should never be able to sell your loan to anyone but a Mortgage lender. They only want to harrass never help. After you comply with everything they say and I told them I want to keep my house they say sell it! Very ugly, heartless people who make their money off of people who they know are having a hard time. I wish the Federal Government would investigate and force them to return all the monies they have stolen from people

by Anonymous From Empire, CA on February 28, 2009

They took over our loan from Countrywide and we were never even notified that they took over the loan. Since then we have had nothing but problems with them. Each person you talk to gives you a different answer. They refuse to send us monthly statements. Whenever you receive anything the amount they say you owe is different than what it shows online, also different than what their automated system says, and then when you do get someone on the phone you are put on hold forever and they give you a different amount altogether. They are not helpful, and speak down to you like you aren't worthy of their time. In a word they suck.

by Anonymous From Monee, IL on February 20, 2009

Not an actual mortgage company, just a clearing house to collect funds. Real hard to talk to a real person regarding your account. Just a run around on trying to get some answers on modifying your loan. They hold ALL the cards and KNOWS it.

by Anonymous From Shasta Lake, CA on February 19, 2009

Not really sure, our loan was just transfered to them Feb 1st. They've only sent us one letter so far.

by Anonymous From Hyattsville, MD on February 18, 2009

this company never wants to help you and when they do help your payments go up an the loan gets higher when will the federal gover. step in and do something about sps. we need help from this company mr. president obama.

by almost out of my home From Cleveland, OH on February 12, 2009

I tried to contact these criminals to work out my past due amounts to avoid foreclosure. I was presented with an offer to make 3 payments and then some $12000 balloon payment for the fourth payment and my loan MAY be modified. If i had the 12000 i would not be behind in my mortgage and this would not have been an issue this company needs to be shut down

by almost out of my home From Cleveland, OH on February 12, 2009

I tried to contact these criminals to work out my past due amounts to avoid foreclosure. I was presented with an offer to make 3 payments and then some $12000 balloon payment for the fourth payment and my loan MAY be modified. If i had the 12000 i would not be behind in my mortgage and this would not have been an issue this company needs to be shut down

by Anonymous from Jasper county Indiana From Rensselaer, IN on February 12, 2009

I cannot believe what I have been reading. I started investigating their corruption after recently moving back into my house that they were forclosing on. They had the house boarded up and everything. They stated that they would work out a forbearance payment for 3 months and then do a modification of our loan. We moved back into the home and made our first forebearance payment and by the time our 2nd one was due, my husband was laid off and there was no money to make the payment. He called them and one man stated that that's ok it will just be late. Then 3 days later a lady calls and says APSOLUTELY NOT! Forebearance broke and now we will foreclose. Sheriff sale will be rescheduled. Not happy about having to move again, but am blessed that I see them for what they are. Better to cut ties and move on...

by Anonymous From Dacono, CO on February 09, 2009

by Anonymous From Litchfield, IL on February 03, 2009

I have tried to work with them from the beginning, but they have only tried to start working with us in the last 30 days.

by Anonymous From Ozone Park, NY on February 02, 2009

Select Portfolio Servicing (AKA Fairbanks Credit/Credit Suisse) is actually run by crooks who prey on unfortunate home owners by forcing foreclosure on them. This is how it works: When they foreclose on you they buy back these houses at $1.00 from the government and they get to write off the entire balance you owed as bad debt (therefore tax credits). Therefore to open everyone’s eyes I must say it is a win-win for them when the house is foreclosed as there are no potential buyers they are guaranteed to keep the house at no cost plus whatever you have paid them made them millions already. This is exactly what the investors waited for all this time. When these guys get to keep your house for $1.00 they can rent it by themselves and make tremendous money just by doing so. Not to mention when the economy turns around these guys will flip the houses left and right for million percent profits. Makes Sense?? Banks are run by people & where money & future potential is involved people will do anything to get what they want. I am very sorry for all of you guys as Select portfolio is the perfect company to work with for the crook banks as there is a legal loophole which says the servicer cannot do a loan modification as they only have the right to service them and bring the investor bank what the homeowners have signed for. It's a win-win for the banks and loose-loose for us. To make a complaint with the FTC please call this number:1-202-326-2089 and we should all get together and file a class action lawsuit against both the lenders and Select Portfolio Servicing. Good luck to all.

by kayothia jarnagin From Severn, MD on January 31, 2009

Be careful.

by jeff smith From York, PA on January 29, 2009

these are the worstcompany on this earth.they have me in my 4 th foreclosure in 6 years . crooks,crooks, crooks

by FRANKIE From Abilene, TX on January 24, 2009

SPS IS A PAIN IN THE ASS. HOWEVER PLEASE CALL THE UTAH NUMBER FOR A LOAN MODIFICATION. THE REPS NO WHAT THEY ARE DOING AND REALLY HELP YOU . IF YOU CAN GET HOLD A PERSON BY THE NAME OF RODRIQUEZ EVERY THING WILL WORK OUT,

by FRANKIE From Abilene, TX on January 24, 2009

SPS IS A PAIN IN THE ASS. HOWEVER PLEASE CALL THE UTAH NUMBER FOR A LOAN MODIFICATION. THE REPS NO WHAT THEY ARE DOING AND REALLY HELP YOU . IF YOU CAN GET HOLD A PERSON BY THE NAME OF RODRIQUEZ EVRY THING WILL WORK OUT,

by Raya From Fountain Valley, CA on January 21, 2009

In 2007 I refinanced my home to a 30 year fixed (interest only) to get out of an ARM. The loan did not originate with SPS, but it was transferred to them almost immediately. Later in 2007 I got divorced and neither party could afford the home alone. I tried to sell it but we were upside down. I contacted SPS and they stated that they were willing to do a shortsale. I put the home on the market, got 8 offers and they accepted one. I moved out of the house only to have them tell me that the mortgage insurance would not approve the short sale. They stated that the only way that I could Short Sale would be to agree to pay the balance on the mortgage as a personal loan ($100k). I refused. Next I tried to do a loan Modification, but they said that that was not possible since they weren’t the owners, only “services.” I asked (many times) who the owners were so that I could do something about it (like try to negotiate a solution), and they would not tell me. Finally, I tried to give them a “Deed in Lieu” of foreclosure but they stated that the only way that I could do a deed in lieu would be to agree to pay the balance on the mortgage as a personal loan (now about $150k). On January 13, 2009 they finally foreclosed after a year of my not making mortgage payments. I feel that I tried everything to work out a solution and they were uncooperative. Is there anything I could have done differently?

by SUZEE From Redford, MI on January 18, 2009

SPS IS STARTING TO GIVE ME GRIEF TOO. HAVE BEEN OUT OF WORK AND STARTED IMMEDIATELY TALKING TO THEM TO WORK OUT A WAY TO AVOID PROBLEMS. THEY ONLY OFFERED A SHORT SALE OR FORECLOSURE. I AM NOT A PRIMARY RESIDENT OF THE HOME SO THEY TOLD ME I HAVE A CHOICE OF LEAVING THE HOME I AM IN IN ANOTHER STATE AND MOVING BACK (HAVE TO PROVE I AM THE PRIMARY TO THEM TOO) OR THEY WILL FORECLOSE ON ME. I ASKED FOR A 1 OR 2 WEEK CHANGE FOR PAYMENT DATE DUE TO A FIXED INCOME CHECK COMING AFTER THE GRACE PERIOD DATE TO AVOID BEING LATE AND THEY REFUSED. I DIDN'T MAKE MY PAYMENT - THE FIRST TIME IN 8 YEARS, NEVER BEEN LATE OR MISED A PAYMENT. NOW THEY ARE THREATENING FORECLOSURE AND PROOF I AM LIVING THERE. NO MODIFICATION EITHER, FIRST I DIDN'T HAVE ENOUGH INCOME AND NOW WITH A FIXED INCOME, I HAVE ENOUGH TO COVER JUST THE HOUSE PAYMENT BECAUSE AS THEY SAY, YOU WON'T BE LIVING IN THE HOUSE YOU ARE IN NOW, YOU ARE MOVING BACK TO YOUR PRIMARY RESIDENCE SO YOU HAVE SUFFICIENT INCOME.

by Joey From Studio City, CA on January 16, 2009

SPS is driving me crazy!!! I applied for a loan mod because my payment adjusted and riased by $1700, was told on a recorded call that the loan mod was approved and not to make future payments until the paperwork arrived and was completed. I decided to call a week later to verify and was told that there was not an approved loan mod and my payment was due. I asked for a copy of that call and they said I need a subpoena. They call to ask for payment, I tell them about the loan mod issue, they say the information provided shows I can not afford the payments! No shit!!! Thats why I'm applying for a loan mod.... I feel like this company should be forced to honor the promised payment offered by the SPS representative. I'm afraid they will try to foreclose soon.

by tanya pratt From Palm Bay, FL on January 12, 2009

by Anonymous From Snellville, GA on January 11, 2009

This company has aged me to no end. I am desperately trying to get away from these crooks. pray I do.

by Joe From Chicago, IL on January 09, 2009

To anyone having a difficult time with SPS, try talking to them. If you are talking to them and don't understand the answer, ask to speak to a supervisor. If a rep is saying something that sounds ridiculous, ask to talk to a supervisor. These guys don't make any money when they foreclose on your house, it is in their best interest to keep you in your house they make more money that way. You just have to talk to them and if you don't understand them ask for a better explanation or to talk to a supervisor. Everything went great for me with SPS when I got behind because I talked to them before, during, and after I got behind.

by Anonymous From Roseville, CA on January 02, 2009

Worst company. They do not help you at all. What can we do to stop these. Are there any real estate lawyers that can help?

by sandra Alba From Colton, CA on December 19, 2008

Im from Ca and I got my Modification from a place called Authority Lending if you want to save your home call her Noel Hill 909- 728-9844 she help me with Select . Tell anyone that you know that want to save their home.

by sandra Alba From Colton, CA on December 19, 2008

Im from Ca and I got my Modification from a place called Authority Lending if you want to save your home call her Noel Hill 909- 728-9844 she help me with Select . Tell anyone that you know that want to save their home.

by Anonymous From Jamaica, NY on December 18, 2008

by Anonymous From Bolingbrook, IL on December 16, 2008

Not willing to help out at all.

by Laura Da Silva From Gotha, FL on December 14, 2008

They first told me that they do not do modification and only forebearance due to medical. When they sent me a payment plan that was unacceptable due to the fact that it showed the 13,000 balance at the end of forebearance I did not sign. I instead contacted a professional, Apply To Save, who assured us that they have worked with company in the past and that they do Modification. After paying them I received similar plan. we called the lender and questioned the balance again and they assured me that we did not have to worry it will be put in the back of the loan and a new payment plan would be in effect. Had we known that they were going to place me in a worst position than where weere before. Select Portfolio modification plan does not change rate or payment down. Instead it increases payment to cover taxes, insurance, and deficit. Inaddition the rate does not change. We feel mislead and high disturbed. We ave worked hard to pay my mortgage every month. We just could no longer afford the payment of 2398 and that was the reason I had called for help. Thanks Laura

by Anonymous From Scranton, PA on December 10, 2008

by amy tomolonis From Bridgeport, OH on December 09, 2008

by Anonymous From Gaithersburg, MD on December 08, 2008

my mortgage was sold to sps ,they raised my mortgage. I called them to see if they could modify both of my 1st and 2nd mortgages, the representative told me because I make less, they can not help me. Now I am afraid that I'm going to loose my home that I'ved work so hard for me,my boys and grandchildren. From Gaithersburg MD

by Anonymous From Greenbrier, TN on December 04, 2008

This company is the worst ever. They make arrangements for you, then don't carry through. The next day, someone else calls back. Then you have to tell your story again. We paid $8,000.00 this month so far and can't get them to credit the amount because every time you call them they give you a different amount. I keep sending in that amount and it's still not enough. Now they're holding $1800 until I get enough to pay attorneys fees. What does that mean?

by Steve From Moreno Valley, CA on December 03, 2008

I experienced what many of you are complaining about. A rate adjustment and a new unaffordable payment. I also went through the efforts of trying to get a loan modification with SPS without any success. They declined me because my financials were deficient. They crazy thing they do with their calculations, as explained to my by several SPS reps is take 18% right off the top of your TAKE HOME pay. This is why it is almost impossible to qualify for a loan modification. But one thing stuck out in my conversations with the Loss Mitigation manager, and that was they she said I should look into a SHORT-PAY REFI. This is a FHA loan. At the beginning, I did not understand what this was, so I went on to look into Hope for Home owners. A credit counselor there suggested that I look into "FHA approved lenders". I did a search on Google for this in my area and got a list of FHA approved lenders. I called several and left info with them of my situation with SPS. A few called back, and one was on the ball with getting me started on an FHA Secure loan. This is different than an FHA Hope for Homeowners program. Do your homework on both of these. You will see that the Hope program will fund a 90% loan to current value of your home, but has the caveat of a shared equity program...not the best of options, but some, this may be your only hope. But for someone like me, my situation qualified for the FHA Secured program, which funds at 97% of value, but no equity sharing. You cannot be more than 2 months late, and have a somewhat fair credit rating. I was around 600, maybe less. Anyways, it works like a Short-sell, but instead of selling your home to someone else, you are having an FHA approved lender approve you for this type of loan (after an appraisal of your home to determine current value), draw up a loan for 97% of that amount (minus the closing costs), and then make an offer to SPS to Shortpay your loan. SPS has to agree to the shortpay. They will take the loss, which is a benefit to them, because they would rather take this than a foreclosure. They stand take more of a loss with a foreclosure because there are legal fees, other costs, and when the property finally goes on auction, they actually only receive a discounted amount of the actual value. SPS told me that they do these all the time, and with the values of homes continuing to decline, they are trying to process these as soon as they receive all the paperwork for the FHA lender. This is what they mean by taking a Shortpay refi and not a loan modification. They know in reality, even with a loan mod, most people end up still defaulting and foreclosing. SO PEOPLE, DO YOUR HOMEWORK, LOOK FOR AND FHA APPROVED LENDER, YOU MAY BE ABLE TO QUALIFY FOR A FHA SECURED OR HOPE FOR HOMEOWNERS PROGRAM. The rate is alittle higher, like %7.5 on my FHA Secured loan, but it is locked in rate, no prepayment penalty, and the loan amount is only 97% of current appraised value of your home. LOOK INTO IT!!!!!

by michael Miranda From Marietta, PA on December 02, 2008

by Theresa From Pahrump, NV on November 24, 2008

SPS will not do a modfication only a repayment plan and it's only a matter of time before they own your house. They are criminals. They added 42K to our mortgage and said it is now principal that is due. They refuse to help us at lower our paymnet for a modification from 11.3%. STAY AWAY FROM THESE PEOPLE

by Melissa From Deerfield Beach, FL on November 18, 2008

I work for a direct affiliate with the FHA and we are having a lot of success dealing with Select Portfolio Services with Short-Payoffs. I would be happy to assist anyone who is in a tough position and wants to keep their home mortgages affordable…. call me direct at 954-354-8241

by Anonymous From Northridge, CA on November 17, 2008

by Anonymous From Peabody, MA on November 13, 2008

by sandra alba From Colton, CA on November 12, 2008

anyone reading these complants we should all get together and get a lawyer and sue them!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

by Anonymous From Brooklyn, NY on November 11, 2008

I am 2 months late on my second mortgage. SPS says that I am not eligible for a loan modification and that I should refinance. The property is now worth less than what I paid for a can't find a institution to refinance me with the fha program. If anyone have some advice please let me know, I have to do something to get out of this predicament.

by unknown From Oakland, CA on November 11, 2008

by Brooke Chenault From Manakin Sabot, VA on November 11, 2008

by tedd From Dover, NH on November 10, 2008

Same thing with me as everybody else. We are fixed at 9.85% and have had a loss of income. We also owe about 30k more than the house is worth. If the interest rate was lowered to a reasonable level we could afford it. They said the lender, who is anonymous, cannot do that so they are taking our house (deed-in-lieu) in the next 60 days. That was it, end of discussion.

by Bianca From Grasonville, MD on November 08, 2008

Very sad to say that my husband and I will end up losing our home thanks to SPS. My husband and I lost our business last year due to the economy and couldn't afford our house payments. SPS will not work with us at all, as a matter of fact our loan just went adjustable and is now $500 more then our payment. They refuse to lower my interest rate, or extend the term of the loan so we can afford to stay here. We have three kids and it has been devastating for all of us. Just waiting for the knock on the door now -

by Maria From Corona, CA on November 06, 2008

Hi I was reading all the comments because i have a terrible feeling about signing the Forbearance Agreement. I am fustarated i do not understand crap, i am affraid to pay all this money and then they deny my modification because of what i have read. They have been terrible and have lied to me so many times i have all the documents and faxes that i have fax to them and when i call them. They have no records of previous calls or the faxes were blank or not readable or something always. I have so many complaints that i can write a book about it. They are offering to short pay instead of modification. WHY? I told them that i wanted to stay in my house and they told me if i short pay i stay in my house they told me that they wold take care of everything just to say the word. Short sale. They said they would finance my home and get me a new loan for only what the house is worth and i can stay in my house and only pay what is now worth. Why i dont understand. If any one wants to comment how can you comment?

by STEVEN SHELTON From Homewood, IL on October 30, 2008

by Anonymous From Anoka, MN on October 30, 2008

we have them also & they are the most dishonest people i have ever known. we are on a forbearance now & they said they would drop the price of the house, but we would have to find a lender & there is nobody out there to give you a loan. this house was over appraised. i also heard that they buy up these mortgages is because they know the people will go in default., they want your house, not your money. they also have 2 investors in with them too. one is us national assoc. & credit suisse of 1st boston

by Anonymous From Anoka, MN on October 30, 2008

we have them also & they are the most dishonest people i have ever known. we are on a forbearance now & they said they would drop the price of the house, but we would have to find a lender & there is nobody out there to give you a loan. this house was over appraised. i also heard that they buy up these mortgages is because they know the people will go in default., they want your house, not your money. they also have 2 investors in with them too. one is us national assoc. & credit suisse of 1st boston

by Anonymous From Anoka, MN on October 30, 2008

we have them also & they are the most dishonest people i have ever known. we are on a forbearance now & they said they would drop the price of the house, but we would have to find a lender & there is nobody out there to give you a loan. this house was over appraised. i also heard that they buy up these mortgages is because they know the people will go in default., they want your house, not your money. they also have 2 investors in with them too. one is us national assoc. & credit suisse of 1st boston

by Nichelle Anderson From Louisville, KY on October 30, 2008

No help when in need

by Marty-Pahrump, NV From Pahrump, NV on October 29, 2008

When we call customer service to help work with us lower our payments from the 11.3% one person said yes then the next says NO, and wants to charge us more. We fell behind at that rate & they said we could afford more than $3650.00 that is 86% of our income. They won't help us to modify and when they sent a modification agreement it was unaffordable. They are criminals they are charging for "FUTURE LEGAL FEES". We have 8 children and they said their needs can wait, & said not to pay any other bills so we can pay more then the payment amount for fees the are bogus. Every month they put a sale date on our house then move it to the next month. They have been holding a payment they won't apply to our loan.These people are the ANTI CHRIST!! We don't have the credit to refi with anyone else. I pray for all who have to deal with them.

by Anonymous From Canton, GA on October 25, 2008

by li From San Bruno, CA on October 20, 2008

That's why there are thousands if not millions of people who went to foreclosure, its because of co's. like SPS. Greedy Serviders and lenders who are unwilling to help people out and keep their homes! I too asked for help w/ this co. and after they'd run my loan mod over the phone they said i'l lbe saving about $700 then all of a sudden guy puts me on hold then comes back on the phone and says well we have to tac in and impound your property tax- that brought up my payment to unmanageable amount...that's why i called to them to begin ewith...is to ask for freezing my rate..NO POINT IN ASKING FOR HELP W/ THIS CO....I feel sorry for all us who has SPS. someone/agency/fed should step in and look into this co. and see how many have they foreclosed and how they're conducting business...

by li From San Bruno, CA on October 20, 2008

That's why there are thousands if not millions of people who went to foreclosure, its because of co's. like SPS. Greedy Serviders and lenders who are unwilling to help people out and keep their homes! I too asked for help w/ this co. and after they'd run my loan mod over the phone they said i'l lbe saving about $700 then all of a sudden guy puts me on hold then comes back on the phone and says well we have to tac in and impound your property tax- that brought up my payment to unmanageable amount...that's why i called to them to begin ewith...is to ask for freezing my rate..NO POINT IN ASKING FOR HELP W/ THIS CO....I feel sorry for all us who has SPS. someone/agency/fed should step in and look into this co. and see how many have they foreclosed and how they're conducting business...

by Anonymous From Elkton, MD on October 14, 2008

Reached out for help, they didn't care.

by Joe chun From Phoenix, AZ on October 13, 2008

by John From Riverside, CA on October 11, 2008

We have taken a wage decrease, and have been trying to work out a lower payment/modification with them for two months. We just got our second notice stating they cannot modify our loan. They are not willing to help. So I guess it is foreclosure that they want, intead of giving us a payment we can afford. I hate this company, I have heard how other mortgage co.'s are helping families in this desperate time of need. Not SPS

by Lisa From Harrisburg, PA on October 10, 2008

OMG!!!!!!!! I cant believe all the people this company has managed to hurt. I too have a mortgage with them and fell behind. They told me they could do something for me, gave me one payment and when I recieved my paperwork had hiked my payment from 1726.00 to 2366.99. they're nasty to work with dont care about anyone or anything. something has to be done about this company. Surely this cant be legal?? How are they managing to get away with this for so long??

by Anonymous From Saint Augustine, FL on October 02, 2008

We tried to work with the mortgage company before we were completely unable to make the payments, but because the home is not our primary residence, they would not even talk to us about any options that could have helped us.

by Anonymous From Fresno, CA on October 01, 2008

Worst Company you can imagine. Company forclosed on my home even though payments were current. Company still accepting (and cashing) my checks six months after illegally foreclosing on my home.

by Anonymous From Celoron, NY on September 27, 2008

by martha From Rialto, CA on September 23, 2008

2nd Trust deed held by mtg company who has SPS as the servicing co. SPS keeps on demanding that I pay the mtg. However, the mtg co. held a 2nd trust deed on the now forclosed property. First Foreclosed June 2008. SPS keeps on harrassing me with phone calls and continues to send stmts. The 2nd is a nonrecourse loan. I keep on telling SPS. However, they are rude and keep on demanding $. Of course, I am not paying.

by Anonymous From South Bend, IN on September 22, 2008

I hate this company more than any company on the planet. They are incredibly unprofessional and unethical. Their "work-out" plans do not work out. I just want to be rid of them forever

by lindsay From Churchville, NY on September 20, 2008

If they threaten to foreclose-check the sec filing to see if they even have an agreement to service your loan with your lender. i am battling them and found they dont have a servicing agreement with my "bank". here is the link-time to start turning the tables on these people. http://www.secinfo.com/dv41y.t4z.t.htm

by Jasen Small From Little Elm, TX on September 18, 2008

by Mike From West Covina, CA on September 12, 2008

I lost my full time 6 months ago and I got a part job. I went to the SPS web site and called to work out a payment plan.The customer service man said he could not help me. I want to keep my house but SPS has refused to help. The SPS website is not right. This company is foreclosing on my house now after 3 months of no payment. I don't know why my last loan company sold to them.

by Mike From West Covina, CA on September 12, 2008

I lost my full time 6 months ago and I got a part job. I went to the SPS web site and called to work out a payment plan.The customer service man said he could not help me. I want to keep my house but SPS has refused to help. The SPS website is not right. This company is foreclosing on my house now after 3 months of no payment. I don't know why my last loan company sold to them.

by Anonymous From War, WV on September 02, 2008

by Anonymous From South Boston, VA on September 02, 2008

Worst company. Our morgage was sold and we have been in hell every since. They hold bills, late fees, charges its outragous. We must band together and get something done!

by Bobbie Howerton From South Boston, VA on September 02, 2008

by Anonymous From South Boston, VA on September 02, 2008

by Anonymous From Schenectady, NY on August 25, 2008

by angela bozarth From Springfield, OH on August 24, 2008

i have appreciated the time they have allowed my family to keep our home through everything we have been through

by Anonymous From Williston, FL on August 24, 2008

by Janna Withers From North Little Rock, AR on August 22, 2008

by lisa From Philadelphia, PA on August 14, 2008

started my space to centralize all of us victims. time to go after them. they foreclosed after they told me they werent going to. start bombarding them with so much paperwork. contact allison brown at the FTC so she can help put an end to these people once and for all. MEDIA CONTACT: Frank Dorman, Office of Public Affairs 202-326-2674 STAFF CONTACT: Allison Brown, Bureau of Consumer Protection 202-326-3079 (FTC File No. X04-0005)

by Anonymous From Kissimmee, FL on August 14, 2008

by Anthony Martinez From Colorado Springs, CO on August 13, 2008

by Chad McClintock From Marissa, IL on August 07, 2008

by Cedric Brown From Canton, GA on August 06, 2008

SPS is a company that is in the business of foreclosing. They operate under several names, one of them being Credit Suisse which is a foreclosure company and the other Fairbanks Capital which was recently in a class action lawsuit and ordered to stop their deceptive practices, they changed their name to SPS but their practices stayed the same. We filed bankruptcy and signed a reaffirmation agreement with them, they claimed to have forwarded the signed copy to the bankruptcy court which was never received. We have been making payments according to our agreement and they claim that the payments were never received- now, I have a sale date on my house of 9/2/08 and the only way that they will let me and my family stay in the house is by agreeing to pay a mortgage payment that is 400 dollars more than our true mortgage payment because according to them, we are in arrears. The debt was discharged in the bankruptcy so they drafted a 'forbearance agreement' and we were told that we had to make a down payment in order for the agreement to become valid but that if we do not make the down payment that they will proceed with the sale date.

by Mr Miller From Baltimore, MD on July 16, 2008

SPS is by far the worst place you can do buisiness with. My mother's loan was sold to SPS after 15 years. She never knew what happened. These pirates would call my mother on holiday's or anytime her payment was not in on the 1st day of the month. They have an automatic cxalling system and when you talk to them, they try to strong arm you as in loan sharking tactics. I had to take over her loan from them so they would deal with me personally. I am concidering reporting them to the atterney general,as I am tired of arguing with them.

by Mr Miller From Baltimore, MD on July 16, 2008

SPS is by far the worst place you can do buisiness with. My mother's loan was sold to SPS after 15 years. She never knew what happened. These pirates would call my mother on holiday's or anytime her payment was not in on the 1st day of the month. They have an automatic cxalling system and when you talk to them, they try to strong arm you as in loan sharking tactics. I had to take over her loan from them so they would deal with me personally. I am concidering reporting them to the atterney general,as I am tired of arguing with them.

by Jean K From Cumberland, RI on July 16, 2008

SPS place us on a fresh start program we made al payments as agreed and they denied us a loan modiciation. We have a 2/28 ARM. SPS is unwilling to help refuse to work out a plan.

by Anonymous From East Chicago, IN on July 11, 2008

by desiree lesieur clapp From West Warwick, RI on July 07, 2008

by lana spellman From Scottsburg, IN on July 06, 2008

by joey williams From Newark, CA on July 02, 2008

by raymond haire From Redding, CA on July 01, 2008

will not help us to keep our house by combinding our loan,have explained our hardship,they do not want to work with us to keep our home but would rather us short sell/take a lost and do not care what this loss means to us,we have had emoitional trama due to back to back deaths and funeral expenses,also we have a son with multiple disorders,they are disconcerned,greedy and have no feelings regarding our personal misfourtures or emotional loss...we will not short sell this home for them,becuase we do not want to leave it,they do not care to help us keep it,so we do not care to help them give it to someone else for a 60.000 loss, just because we dont have money...we are fialling bankrupcy,and the house can sit for years/and /years/and years.. before we let someone else have it for less just becuase they do have money,when we are willing to give them exactly what we bought the house for if they would only agree to reafirm our loan/ lower our payments for us to afford to stay,they refuse to do this ...so i say let the house sit for years,and years and tears...

by Clark Smith From Queen Creek, AZ on June 30, 2008

by SCREWED OVER From Summertown, TN on June 26, 2008

WORST COMPANY EVER!! MORTGAGE EXCHANGED HANDS SEVERAL TIMES. ENDING UP WITH FAIRBANKS CAPITAL. COMPANY TRIED TO FORECLOSE ON US SEVERAL TIMES IN & OUT OF COURT OUR MORTGAGE PAYMENT WAS NEVER LATE. COMPANY INCREASED OUR MORTGAGE PAYMENT. EVENTUALLY SOLD HOME GOT TIRED OF THE HASSLE. DID RECEIVE MONEY BACK FROM COMPANY. THERE IS A FEDERAL LAWSUIT AGAINST THIS COMPANY OR WAS WE RECEIVED FUNDS BACK IN 2005. JUST FOUND OUT THROUGH A CREDIT REPORTING AGENCY THAT ONE OF THEM LIST OUR PROPERTY AS BEING FORECLOSED THE OTHER TWO LIST AS PAID AS AGREED AND PAID IN FULL.NEVER FORECLOSED HOME WAS SOLD! NOW I HAVE TO BATTLE WITH THIS COMPANY AGAIN FOR RUINING SOME OF MY CREDIT. EVERYONE HAVING TROUBLE WITH THIS COMPANY PLEASE CHECK INTO A LAWSUIT. THIS COMPANY HAS MANY NAMES CONTI MORTGAGE, SELECT & FAIRBANKS

by steve dailey From Staten Island, NY on June 26, 2008

They are trying to work with me but I want to know about other options

by stephen baynar From Glen Burnie, MD on June 20, 2008

i willsend 6th of july

by Mary Tang From Federal Way, WA on June 19, 2008

They are the worst lender I have. I would not recommend them to anyone. They do not want to work with any of their client. Rude and helpless customer service.

by Gary C From Spokane, WA on June 09, 2008

They say they're willing to help but what they say on the phone and what they send in the mail are two different things.

by Carlow Edwards From Columbia, SC on June 08, 2008

by Anonymous From Ellensburg, WA on May 26, 2008

by Anonymous From Veradale, WA on May 22, 2008

by Chad McClintock From Marissa, IL on May 19, 2008

by Anonymous From Thomaston, GA on May 19, 2008

by Anonymous From Rockford, IL on May 19, 2008

by Jason Cleary From Springfield, OR on May 18, 2008

We have been trying to work something out with the company as we put our house on the market - someone was suppose to buy it and they pulled out days before closing. We had already made arrangements to move to a different town. We are unable to make mortgage payments and rental payments

by Anonymous From McClellandtown, PA on May 13, 2008

by Tracey Bloodsaw From Jersey City, NJ on May 10, 2008

by Anonymous From Baltimore, MD on May 08, 2008

by Anonymous From Little Ferry, NJ on May 06, 2008

i just cant understand why i have to pay such high interest rate

by JOHN PSZYK From Frisco, TX on May 04, 2008

by Michael Enright From Havertown, PA on May 02, 2008

by Berry Lance From Belgrade, MT on May 01, 2008

by Thurmes From Hudson, WI on April 30, 2008

SPS is the worst mortage company out there! Our mortgage was sold to SPS which was out of our control. After reading the reviews on this company, I know know that we are NOT alone with our frustration. The United States govenment should have shut them down. The have not followed any of the terms they were ordered to follow the last time they went to court. They're still charging the outrageous fees, and never can explain what there actually for. We thought they were working with us to bring our mortgage up to date....WRONG! Now they keep calling and telling us that the sheifs sale is coming soon. They try to scare you into making arrangements that you can come close to being able to afford. They also told us our AMR was not going to adjust - lied again! I don't think their customer service department knows what they're doing. STAY AWAY FROM THIS COMPANY!

by Anonymous From Fresno, CA on April 30, 2008

Select Portfolio/Fairbanks Capital is the worst company. They should have been shut down years ago. They are nothing but a Foreclosure Mill. If you want to keep your home - Stay away from this company at all costs.

by Orville Skaggs From Inman, SC on April 30, 2008

by Robert Murdock From Montrose, MI on April 29, 2008

by Anonymous From McClellandtown, PA on April 28, 2008

by Anonymous From McClellandtown, PA on April 28, 2008

by Steven Beckner From Newton Falls, OH on April 20, 2008

by rosalyn rouse From Savannah, GA on April 16, 2008

They have really been helpful. I just need more time to work out my financial situation.

by Anonymous From Las Vegas, NV on April 16, 2008

by Anonymous From Brentwood, CA on April 08, 2008

conflicting info-told the rate/and or length of mortgage could be negotiated and payment lowered but then told no such deal

by judith jackson From Dover, DE on April 01, 2008

conflicting info-told the rate/andor length of mortgage could be negotiated and payment lowered but then told no such deal

by Anonymous From El Sobrante, CA on March 29, 2008

Like I said before I can't wait to come home, turn on the news and see that someone finally had enough of Fairbanks/SPS and rightfully killed the top management of this horrible company.

by Anonymous From El Sobrante, CA on March 29, 2008

Like I said before I can't wait to come home, turn on the news and see that someone finally had enough of Fairbanks/SPS and rightfully killed the top management of this horrible company.

by Anonymous From Annapolis, MD on March 28, 2008

This crowd is the worst business I have ever dealt with in my short (58 year) lifetime. Their escrow department didn't pay my taxes on time and then charged me for the late fee (30 bucks--not much, right?). When I discovered this, I called them. They put me through the ringer to "prove" they were late. Fortunately, my county no only has all of my records available "on line", I can also e-mail them to whomever I wish. So, I was able to do that. With that "curve ball" now used, they told me to wait and I would see the refund posted in a couple of months. I stayed on them, yet nothing. Now, a year and 15 e-mails later, still nothing. The "servicing" department in Florida can't get a hold of the "customer service" department in Utah! Please wait. Please hold. Please this. Please that! These people are just CROOKS--playing with people's money and passing late fees off to unsuspecting customers. WATCH THEM LIKE A HAWK! DO NOT LET THEM SYPHON OFF OR STEAL YOUR MONEY!

by Anonymous From Cedar Rapids, IA on March 27, 2008

by Anonymous From South Bend, IN on March 27, 2008

SPS... I don't even know how I ended up with this mortage company. All I don know is that when these people took over they total reuion everything. People run into hard ship. I am one of them. I started off with refinancing my home about 11yrs ago. Indiana Mortagae Company is who I refinaced with. Before I know my mortage was sold to SPS. My mortage started out at 579.00 when these people took over. Before I Knew it my payments were almost $800.00. I'm sorry I was a single mother with 2 kids and other bills. How the hell could they expect for me to afford that. My payments then fell behind. I contact this company to inform them that I would be doing some improvements to the home and then put it on the market to be sold. They told me that would be fine. I put in brand new Hard Flooring in almost all the rooms, repainted, and put in a new counter top. My home was finally up for sales in the summer of 2007. Almost 2 mnths after being listed I had an offer on the home for 48,000.00. When I refinaced the property 10 years ago at the time, I took out a loan for 42,000.00. When my realestate agent and I called to inform the mortage company of the sale they told me that my pay off was 50,.000. HOW IN THE HELL IS THAT. They also told me that I could not take this offer. I could have swore that this is my home. I ended up having to take my home off the market. After 2mnths of doing this. These people wanted me to try and contact the same man who offered to buy the home. Yeah like that was going to happen. To make a long story short. I haven't heard anything from these people and now when I drive by the home there is someone leaving in there. I thought they were required to send me something regarding this. But Nothing.

by Anonymous From Orange Park, FL on March 25, 2008

They helped me resolve my issues and explained my taxes and insurance. It makes sense now. Thank you.

by Carpenter--Missouri From Laredo, MO on March 25, 2008

We have dealt with this worthless company when it was Fairbanks and it also went by another name be4 that, I cant remember it at this time. We recently lost our home to a fire(FEB.22,08) total loss. I have argued with these people for two weeks concerning this fact and that they had NOT been paying my taxes nor my home insurance. But they have charged me $619.79 for the month of 1-31 to 2-28, stating taxes and insurance paid by servicer. Also when I have called the first words out of womans mouth was do u wish 2 make a payment today because u are deliquent. I told woman no and she stated we will be forced to forclose and take YOUR HOME. I told woman to bring a dump truck and alot of shovels cuz they will need them to get what was left of home off of ground. She hung up on me!!! this womans name was Danielle Henry,should be STUPID!! On another call 2 them they cant find the name of my insurance carrier but I recieved a letter from my carrier that states they have sent a copy of this letter to Select Portfolio Servicing in Arizona. No phone number for them though.I am going today to speak with an attorney about this matter because they are not getting the full amount of our insurance check for our loss.

by Randy Resetar From Oakmont, PA on March 24, 2008

by Anonymous From Kunkletown, PA on March 24, 2008

While on a payment plan, they tried to cash a 1800.00 check as 8,000. Within 2 weeks got leter stating that we failed to make the payment and now will go into foreclosure. We then had to give them 9,000 for charges and fees because they made the mistake and they would not adjust the fees. This company is so unethical and just riping people off and they seem to get away with it...

by Anonymous From Youngstown, OH on March 23, 2008

I no that we owe our payments,but we tried to make arangements,started one was suceessful in paying,then at the end of the agreement,when the balance was due,they said we could make arangement s to pay the regular payment plus the difference divided up to 24 months,was waiting for the letter saying how much,and instead got a letter saying in a buisness decision can't help you,did not no what to do,so gave up,but please need help,from someone who knows what to do.

by Elizabeth Shelton From Rock Hill, SC on March 21, 2008

They get you in a trap when you have late payments, they let me continue paying 6 months before they filed for a lift of the bankruptcy.

by Anonymous From Colorado Springs, CO on March 19, 2008

by Anonymous From Galion, OH on March 16, 2008

by Fed Up American From Chesapeake, VA on March 12, 2008

This has to be the worst Company and organization in the world at least in the United States. Every month my husband pays the mortgage on time and they still call five days before it's due and five days after he pays and they used a unlisted number and they are driving me crazy. We had a mortgage company my husband went to Iraq he was shot down in fallujah and now he is 1005 disabled. Our mortgage company sold our mortgage to these low life non customer service indecent human beings because I think from reading all of these post that there has to be something wrong somewhere and I not even late paying them and I HATE them I am trying to refinance with someone else to get rid of them and if I were to foreclose at least I would not have to deal with the ignorance anymore.

by rashea rawls From Plainfield, NJ on March 08, 2008

by Anonymous From Dingmans Ferry, PA on March 06, 2008

The person I spoke with had an accent that I had a very hard time understanding, but she was the only one who could help me. She told me one payment amount for a forebearance agreement, but when I got the paperwork the payment was almost $200 higher and for 3 months LONGER than she told me on the phone. When I called back and told them this was too high, she told ME I could afford it and if she tried to submit it with a different amount her boss would probably not approve it and I would lose my house. by the way, I couldn't afford it, and I'm in the same situation now that I was six months ago.

by Anonymous From El Sobrante, CA on February 27, 2008

Like I said before I can't wait to come home, turn on the news and see that someone finally had enough of Fairbanks/SPS and rightfully killed the top management of this horrible company.

by Anonymous From Florence, SC on February 26, 2008

Horrible company. They added a 30 day late to my credit report when the payment was 15 days early!

by Anonymous From Detroit, MI on February 25, 2008

I try to ask for a loan modication but they declined me.

by GARY CRAWFORD From Spokane, WA on February 21, 2008

Loan has just been sold to Select Portfolio. Have not had very much contact with them at this point.

by Njideka N. Olatunde From Mount Rainier, MD on February 21, 2008

The company does not have any plans that work with customers facing hardships. Their solution is sell or foreclosure.

by Anonymous From El Sobrante, CA on February 21, 2008

Fairbanks/SPS are scum of the worst type. I can't wait for the day I come home, turn on the news and see that someone has gone postal and killed the top management of the company. I just can't wait!

by James Jones From Midvale, UT on February 20, 2008

They make promises and arrangements, but then they back out when things got worse for us and told us we have to refinance instead of trying to work with us.

by charisse From San Jose, CA on February 15, 2008

i tried to request for a modification and was declined. they sent me a letter saying that they are sorry about the failed modification. they told me to call them for other options. When i called, they said there is nothing they can do.

by Anonymous From Stafford, VA on February 05, 2008

They SUCK. They will not to anything except HARASS you to death and threaten you.

by Anonymous From Green Lane, PA on February 03, 2008

by Anonymous From Green Lane, PA on February 03, 2008

by Dee From Niagara Falls, NY on February 03, 2008

Fairbanks aka SPS is operating with agreed "Best Practices" negotiated with HUD, FTC Curry case. Based on these complaints I'd say they are violating Best Practices in the very same way they agreed not to do. Type in your web browser United States of America v Fairbanks Capital Corp. Read the charges in the complaint. You'll see your experience in there. Read the Settlement Docs where Best Practices can be found. Visit www.MSF.ORG Click on the "Forum" which where you can discuss these issues. It's time for borrowers to fight back. File a complaint with the FTC for starters but there are other things to do. Nearly every single month I had to play "where did they hide my mortgage payment" Dee

by patti mccoin From Plymouth, MI on February 01, 2008

it is very hard to get a hold of Select Portfolio and then get a straight answer.

by robert ball From Piedmont, AL on January 31, 2008

I went to iraq for one year and they had to low my payment to 6% now that I am off active duty the raised it up to 14.5% thats A good way they thank me for putting my life on line for them.

by Jorge Castellon From Las Vegas, NV on January 30, 2008

by ward jr. otha From Kansas City, MO on January 28, 2008

by B From Kearney, NE on January 28, 2008

This company bought my loan from Option One. The Option One company was great and accounted for payment properly as well as had a user friendly low or no fee web payment site (OH I MISS THEM). The worthless SPS customer service outrageous fees on there website and lack of accurate accounting has got to be robbery. This company is the poster child of the subprime crisis. They need to be liquidated and their business model need to be regulated out of existence.

by Yolana From Upper Marlboro, MD on January 25, 2008

Rudest, most unprofessional and downright thieves. Have added extra insurance and taxes to my mortgage, unexplained and want refund. Charge too much for minimal services like faxing payoff. I already had my own insurance when I was sold to them. A lot of illegal practices and stealing customers money. Don't do business with this company. If you get sold to them, refinance immediately before they have you in so much debt that you can't afford your home. Mortgage went up $1000 in one month with no explanation. The govt needs to close them down.

by Anonymous From Springfield, MO on January 17, 2008

Select Portfolio is possibly the most evil mortgage company ever to exist!!! will not work with you at all. Charge outrageous fees for things that were never done. Even "customer service" reps were rude and lacked knowledge of paper work that was sent to me from their own company.

by anonymous from kentucky From Russell Springs, KY on January 12, 2008

i have dealt with this co. for several years and tried to refinance and they jack my payment up so high that i can barely pay. my payment has went from 499.00 to 624 a month and always adding extra late payments charge of 100- 150a month. this is ridiculous. something needs to be done about this company because i cant even refinance with another company. they also added insurance and paid my property taxes and then added extra interest on top of my payment that i didn't ask for.

by victim From Canton, MI on January 12, 2008

JUST KEEP PRAYING EVERYDAY THE FEDS WILL GET THEM.

by Anonymous From Stevensville, MD on January 08, 2008

My loan was sold to SPS after a refinance and when I tried to refinance with another company since I was told that SPS is the servicer of the loan instead of an actual finance company I was told by other more reputable loan companies that we didn't have enough equity in our home to refinance. So we were stuck with them. I asked about getting a modification of our loan in order to transfer to a fixed rate. That was a nightmare because they said we had to make this amount of money have this amount of debt and so forth. Just got our denial letter stating that our debt to ratio was too high. Called and there is nothing else that they can do except for to sell me house. I was like what! My loan is about to readjust to a higher amount and instead of helping us with our high debt they are just going to keep increasing our payments making us have to choose between keeping our house or becoming delinquent on our bills putting them into collections thereby furthering the financial stress instead of fixing the rate so that we can keep our home and stay current with our bills. They have no compassion and I just pray that someone comes along and buys our loan and the next company has more options for their consumers.

by Anonymous From Muskegon, MI on January 04, 2008

after bankruptcy was over,they say we are a month behind,i ask them how i owed 61 payments trustee paid 61 payments they said maybe ater fees added when i asked for respa paper work they only go back 2 years won't show proof of what i owe,now with their late fees and whatever else i owe more than i borrowed, if i ran a business like this i am sure i would have been shut down,who is protecting this company?

by Anonymous From Bluefield, VA on December 27, 2007

I PURCHASED MY HOME IN 1997 THRU EQUICREDIT CORP THEN LATER ON IT BECAME FAIRBANKS AND NOW IT IS SPS, MY LOAN HAS MATURED AND NOW THEY SAY IF WE DONT PAY THE LUMP SUM, THEY WILL FORECLOSE ON US. WE PAID OUR PAYMENTS AND THEY ALWAYS APPLIED THEM AFTER THE DUE DATE TO PLACE LATE FEE CHARGES, NOW WE CAN'T GET REFINANCED DUE TO OUR CREDIT THRU ANY OTHER COMPANY, THEY WILL NOT OFFER ANY DEAL TO WORK OUT FOR US IN RESUMING OUR REGULAR PAYMENTS. DOES ANYONE KNOW WHAT WE MAY DO IN THIS CASE?

by Dawn From Victorville, CA on December 18, 2007

I called Select Portfolio to try and defer a payment for 1 month due to extreme hardship. I was told I do not make enough money for them to help me and I would have to be behind before they can consider help, also you need to just sell your house because you cannot afford it. Although I have been making a $2145.00 payment on time for 17 months now @8.99 interest rate.I never thought it would be like this.This company does not care to work with it's clients.

by Jesus Will Provide From Greensboro, NC on December 14, 2007

The Federal Government needs to investigate this company and reimburse people for the hardship with interest. They need to close this company down. This company changed their name because they had a bad reputation. They have no compassion for their customers, they are rude, unprofessional and horrible to resolve any issues concerning making adjustment to mortgage payment. I hate this company and the people who are employed must really need a job, but we reap what we sow. I know the sheets will be removed from this company and the customer will be reimbursed financial, because I am praying for God to make the impossible - possible and God will.

by GABRIEL SEGURA From Albuquerque, NM on December 14, 2007

my wife got sick and can no longer work we cant make our payments and they say they cant do anything for us

by Anonymous From Port Saint Lucie, FL on December 13, 2007

I had recently got laid off from my job and we were having difficulty making our rising mortgage payment (never seems to go down!) My husband called them BEFORE our mortgage payment was due and explained to then that we might not be able to make the payment and if there was anything they could do for us. The idiot actually replied "There is nothing we can do until you are behind on your payments". What??? How is that helping? Since then, we have spoken to numerous idiots just like the first one. Each time they tell us something different. Just got a forbearance agreement in the mail. I'm really worried that there next step will be foreclosure.

by Anonymous From Saint Louis, MO on December 03, 2007

Have been waiting over 5 days for a payoff amount. I am refinancing with another company. Was told they have up to 15 days to supply me with my payoff. Also select portfolio needs repayment addendum and truth and lending documents before I get my payoff. This company has really messed with my refinancing to another company.

by Anonymous From Simi Valley, CA on December 01, 2007

I ASKED FOR HELP 4 MONTHS AGO. TOLD ME THAT MY MORTGAGE WOULD NOT GO UP BECAUSE OF INTEREST RATES GOING DOWN,NOT TO WORRY ALSO THEY WOULD GIVE ME 2 MONTHS IN ADVANCE TO LET ME KNOW IF MY MORTGAGE WENT UP. I JUST RECEIVED IT 3 WEEKS AGO.THE LETTER STATED THAT MY MORTGAGE WENT UP 1200. FROM 6.50%TO 9.50% DOLLRS. NO ONE THERE GIVES GOOD CUSTOMER SERVICE. IT IS LIKE A GAME, THEY TOSS YOU FROM ONE EMPLOYEE TO ANOTHER OR THEY WILL KEEP YOU ON HOLD FOREVER, THEN THEY HANG UP THE PHONE ON YOU WITHOUT TELLING YOU. THEY RUDE. I REALLY HOPE THE GOV. CAN DO SOMETHING ABOUT LOAN COMPANIES LIKE THEM. IT IS SO OBVIOUS, SO MANY COMPLAINTS THE GOV. SHOULD NOTICE THIS COMPLAINTS. THEY CAN REALLY CAUSE SERIOUS DAMAGE TO YOUR HEALTH

by Anonymous From Oakmont, PA on November 28, 2007

Never help us...always say they are helping but payment keeps going up and up

by richard nadzam From Homestead, PA on October 24, 2007

no help at all--never respond to letters-only know how to foreclose

by Anonymous From Lindstrom, MN on October 03, 2007

SPS said they wanted to work with us when we feel behind. They said they would set our interest to a fixed rate and then lower our payments. Our paperwork came and they increased our payments by over $300 a month. Not only that they have made it impossible for us to refinance because they make it look like we are not making any payments even when we have. They are sitting with over a $1,000 of ours that they will not apply towards our loan but they collect the interest. They are the biggest rip off when it comes to mortgage companies. How can we as homeowners not be protected from these types of crooks.

by Anonymous From Lindstrom, MN on October 03, 2007

They wanted to work with us when we feel behind. They said they would set our interest to a fixed rate and then lower our payments. Our paperwork came and they increased our payments by over $300 a month. Not only that they have made it impossible for us to refinance because they make it look like we are not making any payments even when we have. They are sitting with over a $1,000 of ours that they will not apply towards our loan but they collect the interest. They are the biggest rip off when it comes to mortgage companies. How can we as homeowners not be protected from these types of crooks.

by Anonymous From Maryland Heights, MO on September 23, 2007

by Shelly From Enola, PA on September 21, 2007

SPS had us make a $4000 down payment to keep our mortgage and had our monthly payment go up $500 over a 2 year time period. They called this a forbearance agreement. to me that is a payment plan. Our credit report shows that our home has been in foreclosure for 13 months - i asked that they please change it on our report to payment plan and this would not.

by Anonymous From Philadelphia, PA on September 19, 2007

by Anonymous From Jackson, TN on September 18, 2007

Select/Fairbanks bought my loan from another company. I have always made my payments. Because of my work, sometimes I am not sure when my check comes in, but as soon as I get the invoice from Select, I mail my payment. Sometimes there invoice does not come until 4 days before the due date. Now they tell me that my loan interest is figured on a daily rate instead of a monthly rate, so I owe an extra $133.53. This never shows up on the invoice they send, no one, until now has ever told me this. I checked, and the reason they said for the extra, each day that I am over 30 days from the last payment, they charge me $27.00 interest as extra. According to my canceled checks and when they posted them, they posted them after the 30 days, giving them the chance to charge me, even after it showed that they received my check well before the 30 days. They are crooks.

by Mike Dillon From Manchester, NH on September 15, 2007

Fairbanks/SPS is one of several entities that I have named in a $13.5 million racketeering action. I've been fighting an illegal foreclosure initiated by them in 2001. To the best of my knowledge, I am the first homeowner in the country to have obtained both permanent injunctions and contempt orders against a servicer without having to file for Ch. 13 protection. Please stop by www.getdshirtz.com for more info on my situation with Fairbanks/SPS. Because after all, all you have to lose - is your home.

by RoJo From Port Saint Lucie, FL on September 08, 2007

TRIED TO SET UP REPAYMENT OF MISS PAYMENTS WANTED ME TO PAY THEM DOUBLE WHAT MY MORTGAGE WAS TAKING $1500 A MONTH TO $3000 A MONTH AND WILL NOT ACCEPT ANY LESS.

by Anonymous From Barksdale AFB, LA on September 07, 2007

was working of buying a house, and SPS decided to take control of the house so now they want more money from me the buyer and 10,000 from the sell just because... they can just burn in hell

by Anonymous From Phoenix, AZ on September 03, 2007

Select Portfolio repeatedly misapplied payments, added on fees, (including one for answering my question about fees during a phone conversation, and alleged that we did not have insurance . They sent a letter demanding payment within 30 days, and when I sent a copy of the canceled check to prove that no payment was due, it came back as undeliverable to the address given in the letter. I am a45 year old professional with a Masters degree, not an idiot, but they assume you are one if you have a subprime mortgage. Refinancing with someone else was the best thing we ever did. Call your state's housing commission or your attorney general for advice. GET OUT FROM UNDER THEM ASAP.

by in ohio From Fremont, OH on August 20, 2007

Select Portfolio is insane!! they'll help you right to the poor house--fees for everything!! No real help the right hand doesn't know what the left is doing.

by Anonymous From Portsmouth, OH on August 19, 2007

We have had Select Portfolio since they had bought our loan from another company and i tell you what they do add addition fees and you can't contact them for like a payoff or anything they charge for everything and it seems your house payment never goes down its awful and i hope i can find someone easier to deal with then these people.

by Anonymous From Detroit, MI on August 16, 2007

I paid Select Portfolio $84,000 over 3 years in a chapter 13 and they went to court saying I owed $15,000 in delinquent taxes, which I only owed $3000. Trustee dismissed my case and they're foreclosing on my house now. They also kept raising my interest rate while I was in chapter 13. Worst company ever!! I even had my insurance company fax certification of insurance for the past FIVE years because they constantly added insurance costs to my balance. Feds really need to invest this company. Some American Dream!!-SINGLE MOM WITH NO PLACE TO LIVE

by Anonymous From Jacksonville, FL on August 12, 2007

work for them GET OUT WHILE AHEAD

by Anonymous From Gaithersburg, MD on August 07, 2007

After 3 months they raised our mortgage by 100.00 due to a mistake they made. Never set up an escrow, our own insurance company found the mistake so we set up insurance with them for taxes, several months later SSP told us we had to pay them 1,400.00 to catch up on escrow. I didn't trust them and after researching the company I am really worried.

by Anonymous From Belle Rose, LA on August 02, 2007

by Anonymous From Forest, VA on July 26, 2007

This company is so unethical they have ripped off my family where they are forced to sell their home that they love in order not to lose it. Why can't our government step in a investigate these crooks. All the hidden charges are insane.

by Anonymous From Tonawanda, NY on July 24, 2007

by Got Screwed From Wylie, TX on July 20, 2007

SPS are thieves!!!

by Paul Allen From Lacey, WA on July 11, 2007

Excellent company that is willing to work with you and do the right thing.

by Anonymous From Dingmans Ferry, PA on June 30, 2007

I tried to deal with their loan solutions department with a forbearance agreement when I got behind on my payments. They told me my payments would be an extra $300/month for about 4 months and then they would go back to normal. I agreed and when I got the papers to sign that three hundred extra a month turned out to be for 4 years. I refused to sign it and sent them my own idea of a repayment plan. they are now threatening to foreclose and refuse to accept any more payments. They are horrible to deal with and they are putting me through a terrifying time right now.

by J Maynard From Post Falls, ID on June 26, 2007

I had a second property that Select Portfolio purchased the loan through. They were awful!!! I had to request payoff amount to sell 4 times and the fee for the fax went from $20 for the 1st to $240 for the 4th fax!!! Also forced us to get flood insurance when there is no way we were in a flood zone, the river was over 2 miles away down a mountain

by Shirley Cox From Alexandria, IN on June 23, 2007

Select Portfolio are ruthless loan sharks who add on fees at will and don't credit your payments or credits them too show you are a month behind or more because they have applied the funds elsewhere. They are know aka as Fairbanks Capital Corp. who was sued by the US Attorney General Federal Trade Commission for $40 million payback for illegal practices. NEVER EVER DO BUSINESS WITH THEM.

by Anonymous From Ankeny, IA on June 14, 2007

by Anonymous From Springfield, MA on April 21, 2007

A widow with 5 kids and send me a notice saying if I don't pay $2330 in 30 days they will foreclose! I've been with them 14 mo and show 14 payments, some a little late(30days)where are they getting these charges from? They won't give me a straight answer, what can I do?

by michelle From Bowie, MD on April 10, 2007

THE WORST COMPANY TO DO BUSINESS WITH,INCOMPETENT EMPLOYEES. DOES NOT RESEARCH BEFORE SENDING THREATING LETTERS.

by Roy Smith From Capitol Heights, MD on April 10, 2007

The worst company to service or have a loan with, when near paying loan will start adding additional fees/charges to your loan that were not agreed upon.THE WORST COMPANY TO DO BUSINESS WITH. WILL NOT RECOMMEND TO ANYONE.

by Anonymous From Cannelton, WV on March 28, 2007

They have failed to credit payments, added unexplained charges, charged for insurance I did not need and generally made my life miserable.