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Business Profile

Mortgage Broker

Select Portfolio Servicing, Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Mortgage Broker.

Reviews

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

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Select Portfolio Servicing, Inc. has 10 locations, listed below.

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    Customer Review Ratings

    1.08/5 stars

    Average of 193 Customer Reviews

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    Review Details

    • Review fromWilliam B

      Date: 03/22/2023

      1 star
      My mortgage was sold to them. I'm currently serving my country overseas in the army. They will not except my debit card on the first of the month. I have to pay them using my checking account and by the 27th. My bills were organized with my previous lender and I didn't have to be occupied with my day and calling to make a payment. It was on the 1st. I already have other bills automatically on the 15th. It's stressful over hear in ***************.
    • Review fromKecia S

      Date: 03/20/2023

      1 star
      For a company that "collects mortgage payments" this is an unprofessional company where the Relationship Manager or person sitting in front a computer with the TV in the background reading a script. Yesterday, I was forced to pay $15 fee to collect/do their job for payments after the 10th of the month. Of course this is no where on their website! TOTALLY FECKLESS!
    • Review fromDolls C

      Date: 03/02/2023

      1 star
      This company is a disaster waiting to happen. Whoever invented this company should be put to shame. Miss guided information as what is needed for insurances escrow accounts or payoffs. The people who are in customer service or relationship personal only do one thing collect and have no prior knowledge in dealing with a mortgage transfer to their company.. Thus without any request by payee holder of mortgage note. They made me payoff my loan note which was not due till October ******************************************************* I could continue paying escrow only since principal had been paid out. I contacted so many so call supervisors and each one a different story. Nothing was recorded as apparently it is never done even if you press key on phone. So nothing is recorded there is not a thing typed on computer as to what happen that day. So what happens a long dragged out conversation as it never happened even if it was a supervisor. If you can get out of this company do so.
    • Review fromTia A

      Date: 02/25/2023

      1 star
      Unfortunately my mortgage of 20 years was sold to this company without my consent. They are rapidly increasing my monthly mortgage payments by ridiculous rates to make it hard to make payments. They cap mortgage interest at 10%! That is very high and not the norm. I want to go back to my lender of 20 years when I never missed a payment, and now with this company they make it challenging to make payments.
    • Review fromKarri C

      Date: 02/20/2023

      1 star
      Loan processing fees on EVERY PAYMENT - what a nightmare.My loan was recently transferred from ***** Fargo to SPS. It took over 2 months for SPS to get my information in the system so that I could log into my online account. I called several times and they couldn't guarantee that I wouldn't be charged additional interest or fees as a result of being unable to pay down outstanding principal on my loan or by my due date (basic questions that any loan officer should know!).But, here's the biggest issue: SPS charges a $15 processing fee on EVERY PAYMENT. The only way to get around this is to to mail a physical check or set up autopay. The option to mail a physical check is laughable and I'm not even going to entertain that with a response. The option to set up autopay fails to consider timing of banking transactions (i.e. if it is a banking holiday my paycheck may not have deposited yet, and therefore I would need to make the payment on a different date instead). Also autopay does not allow me to make one-time additional payments when I am able (i.e. additional payment to principal or escrow) WITHOUT INCURRING A PROCESSING FEE.I have outstanding credit and no late payments in my entire loan history. I've never had a loan company hold my hand and tell me I need to set up autopay so that they can trust that I will pay on time, or else be charged with service fees for every payment transaction.Please, ***** Fargo, buy my loan back! SPS is a terrible company.
    • Review fromMichael G

      Date: 02/14/2023

      1 star
      My loan was transferred to SPS from ***** Fargo. I am now being charged Servicing fees I was not paying previously on my mortgage. The extra processing fees each month are wrong. I picked my previous lender because of the services they offered. These services have now changed due to a transfer I had zero say in. Not Happy! -*******
    • Review fromAnita J

      Date: 02/08/2023

      1 star
      Horrible company I've tried several times to contact the unbusman department can't get anyone on the phone. They tell you leave a message which no one returns your call. This company communication sucks
    • Review fromLauren K

      Date: 02/03/2023

      1 star
      If you are buying a home and you find out that your mortgage is being serviced by SPS, RUN! I would take a higher interest rate than deal with this company. I have been in a never ending battle with SPS over a home I sold in July of 2021. This is part of an Estate and the exact amount requested on the payoff statement was sent in at closing by the title company prior to that payoff statement expiring. I have been told by their customer service department that they did not receive the check until a month after the closing date (their records indicate that they received the check 2 days after closing). Their system had automatically set up for taxes to be paid one day after they received the payoff check and therefore put a balance on the account. For anyone (SPS) who doesn't know, taxes are paid at closing by the seller and buyer for the time frame that each is in the house during the tax timeframe. SPS was refunded the tax amount by the city and therefore should have been able to close the account. BUT WAIT! Their departments do not communicate, so they sent an Escrow check when they should not have. I have been told by a customer service manager (*****) that it is my fault for not paying mortgage payments after I sold the house. I have gone through 3 reviews and the review team cannot write a proper letter, but will then use that letter to justify their next letter. I am just bewildered by the lack of common sense, intelligence, and inability to correct this issue in a timely manner. The BBB has given this company an A+ rating, but that rating does not include the countless other reviews like mine that show this company's shady business practices.
    • Review fromM

      Date: 02/02/2023

      1 star
      CAREFUL when you set up a payment with the *** paymen system! Twice I had scheduled my payment to be fully amortized plus an extra amount to the principle; each time a lesser amount was deducted from my bank account. Luckily, I caught this "error", otherwise I would have gone into negative amortization and found a ballon payment at the end of my loan term!
    • Review fromCarolyn H

      Date: 01/30/2023

      1 star
      Worst Company ever 1. One year they paid on my only mortgage 3 different homeowners insurance Companies. The next year they paid 2 different insurance Companies Took me years to get my money back 2. Govt HAF is paying my mortgage for 6 months Each month SPS harassed me that I have not paid my mortgage. This is SPSs issue because they receive the govt check on the 8th of each month and they tell me it is pending for 3 weeks so far this month Obviously not qualified personnel and the harassment is overbearing DO NOT EVER EVER go with this Company

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