Reviews

This profile includes reviews for Select Portfolio Servicing, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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Select Portfolio Servicing, Inc. has 11 locations, listed below.

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  Select Portfolio Servicing, Inc.

  3217 S Decker Lake Dr Salt Lake Cty, UT 84119-3284

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  Select Portfolio Servicing Inc.

  PO Box 53077 Jacksonville, FL 32201

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  Select Portfolio Servicing Inc.

  10401 Deerwood Park Blvd Bldg 2 Jacksonville, FL 32256-5007

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  Select Portfolio Servicing

  PO Box 2967 Phoenix, AZ 85062-2967

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  Select Portfolio Servicing, Inc.

  PO Box 65250 Salt Lake City, UT 84165-0250

Review Details

• Review fromYonnette S

  Date: 06/17/2024

  My experience with Select Portfolio Servicing, Inc. (SPS) over the last seven months has been profoundly negative. SPS has persistently refused to process my loan modification request despite having all required documentation since the beginning of the year. Their handling of my case has been marred by a lack of transparency and repeated misrepresentation.Throughout this period, I have received 17 letters from SPS falsely claiming that I had failed to submit the necessary information for my loan modification. These claims are completely baseless; all requested documents were provided in a timely manner. This pattern of sending misleading communications appears to be a deliberate effort to avoid addressing my modification request.Moreover, SPSs management of my mortgage payments has been highly problematic. Payments that I have made have not been correctly applied, leading to an unjust increase in my delinquency. This mishandling of funds exacerbates the financial pressure and creates a misleading representation of my payment status.The customer service provided by SPS has been equally troubling. Instead of offering assistance, their communications have been hostile and coercive, demanding immediate payments under threat of default. This abrasive approach only adds to the stress and frustration of dealing with them.SPSs refusal to modify the loan and their consistent dissemination of false information reflect a deep-seated issue with their service quality and ethical standards. This experience has severely impacted my financial situation and credit score, causing significant personal distress. I strongly advise caution to anyone considering engaging with SPS due to their negligent practices and the unnecessary hardship they have caused.

• Review fromMacus G

  Date: 06/10/2024

  I allege that SPS has:- Engaged in deceptive practices by denying previously agreed-upon payment restructuring - Failed to honor commitments made by their managers - Made it excessively difficult for me to communicate with them, leading to further distress and hardship

• Review fromChristine F

  Date: 05/22/2024

  The worst company ever. They don't know what they are doing. They hold money and lie about it. They don't offer help when it's approved. This company received much money to help people with arrangements. They have always been awful to deal with. I suggest calling the banking commission don't waste your time with bbb

• Review fromAn N

  Date: 05/20/2024

  I have tried to establish an escrow account on two properties with SPS since 11/23. After 10-12 calls and emails from November until this morning. SPS has managed to establish escrow on one of the accounts. The other account has yet to have an escrow analysis despite my repeated written and phone requests in the past few months. They did make payments for the property taxes and insurance companies when I submitted the documents to the SPS portal directly. But they charge a monthly interest for each escrow advance payment . I have not encountered this scenario with other lenders before and will investigate to find out whether this is a Federal Trade Commission violation. The customer representatives at SPS have all been very courteous. But they seem more interested that I download the SPS apps to make payments rather than solving the above issues. They claim to have written notes at each encounter and 'we will forward to the escrow department and ask them to escalate" but in the times I have called to follow up, the response has typically been "it does not show here that your accounts are escrowed, but did you know you can download the app? is your cell phone current so we can text you?" And then we start all over with "if my accounts are not escrowed, how is it that SPS made the property tax payments last December? and then home insurance in February? Can you please review the the written documents I submitted since November and this February? " This is a truly inept loan servicer and I am 100% in agreement with the other reviewers.
  

• Review fromSheela T

  Date: 05/14/2024

  Poor customer service, Inconsistent answers! They are holding my escrow overpayment, and charging interest for what I owe on the mortgage.

• Review fromSteven G

  Date: 04/29/2024

  In the 6 months since SPS took over the servicing of my mortgage, they incorrectly paid our taxes, incorrectly issued our 1098 forms, did not adjust our grossly inflated escrow account until they were called out on it, and then "lost" the refund check (issued without tracking information, and then would not provide any actual proof that it had been sent). During this debacle, all the communication and corrective actions had to be initiated from my end. Now, SPS refuses to proactively communicate on any issues and will not provide any status updates as to when the replacement check is being mailed (maybe not for another 30 days, and forget any EFT or electronic deposit). Their (intentional?) mismanagement of our payments and reserves closely resembles a check kiting scheme where they realize they will only be servicing these portfolio loans for a limited time, so they drag their heels and move the money around internally as long as possible to maximize their earnings on our accounts. All the while, denying us access to our own funds. I hope to move our business out of SPS ASAP so you can shut these criminals down. (Tried to leave zero stars.)

• Review fromJohn R

  Date: 04/23/2024

  Extremely rude and condescending customer service team. I wish my mortgage was sold to any other servicer. I am about to spend $15k just to refinance and change servicers. The customer service rep was incompetent and didn't know a thing about banking or even the platform they use to manage my loan. They have no playbook, it seems they hire people with no skills and stick them in a chair until they quit and then replace. Really really bad business and the owners should be held accountable for such a poor experience.

• Review fromtimothy t

  Date: 04/16/2024

  If there was an option for less than zero stars they would get it. Worst loan company ive ever dealt with. Soo many problems we got a different loan to pay this one off just because theyre soo difficult. they send letters with $0.00 balance due but call everyday demanding more money and holding our title hostage. Poor communicating and system updating.

• Review fromJos P

  Date: 04/11/2024

  Select Portfolio Servicing has managed my mortgage very well in the past few years. They have been understanding and willing to work with me when challenging times have occurred. They are responsive and explain any concerns I may have had in every situation. I could not say enough about this company as I am completely satisfied with their servicing of my mortgage. I cant of a single discrepancy I could list for anyone's information. They are first class in every way possible. A+++

• Review fromJay K

  Date: 04/11/2024

  This company is absolutely terrible. Customer care is very rude and unprofessional. Management cannot be bothered to help.