Select Portfolio Servicing, Inc Mortgage Complaint

Select Portfolio Servicing, Inc Mortgage department,

Conventional adjustable mortgage (ARM) Application, originator, mortgage broker Georgia

- -, - Director - - Consumer Financial Protection Bureau - - -, IA - Headquarters address Consumer Financial Protection Bureau - - - - - Dear - - ; RE : SPS ACCOUNT : - -- -- -- - : ( - ) - RE : ADDITIONAL CLARITY Please allow me to reintroduce myself. My name is - -. I purchased a home at - - - in - -. I was returning back to the US after servicing my country not in the military but as being - - - - - - - based in - -. I invested my life savings of $200000.00 on the home. Today I am exploring foreclosure options with Select Portfolio Servicing due to - in -/-/-. -. RATIONAL : I HAVE PAID OVER $530000.00 ON THIS HOME TO SERVICERS ON AN ORIGINAL LOAN OF -.


THIS IS AFTER A - MODIFICATION IN -/-/- THAT HAVE NO RELIEF OR PRINCIPAL REDUCTION. ONE COULD ARGRUE THAT IF A MARKET REPRICING OF THE MORTGAGE HAD OCCURRED IN -/-/- THE DBET WOULD HAVE BEEN RETIRED TODAY. THE MISREPRESENTATION OF THE ORIGINAL MORTGAGE BY - DID NOT DISCLOSE : THE AMORTIZATION FEATURES THE MODIFICATION WAS DONE UNDER DIREST AND DID NOT DISCLOSE THE PRINCIPAL DEFERAL. FOR THE PAST 7 YEARS THE MORTAGE PAYMENTS HAVE BEEN ABOVE THE PRE MODIFICATION. IT WAS NOT DISCLOSED IN THE ORIGINAL MORTGAGAE OR MODIFICATION THAT THE PROPERTY TA-ES WERE HIGHER THAT THE MORTGAGE. THIS MORTGAGE UNDERWRITING IS UNECONOMIC. I believe that I was defrauded by - at the time of my mortgage origination. An uneconomic and irrational payment structure. My mortgage principal and interest is less than my monthly property taxes and insurance. After a modification my monthly mortgage payments are higher than my original payments. This was a negative Home Affordable Mortgage Program experience. My Principal Balance today, -/-/-, after 16 years is higher than it was in -/-/-. Reccomendation Please conduct and audit and analysis of my mortgage modification and complete history with -, - and SPS. Please assist me in receiving a debt " cram down '' valuation base of my history for the mortgages. For example, my total payment from -/-/- to -/-/- approximates my original principal debt or $990000.00 in payments vs. - in original debt. Thank You. Sincerely, - - SPS ACCOUNT - - - - AMOUNT PRINCIPAL $760000.00 DEFERRED $140000.00 PRINCIPAL $900000.00 MONTHLY PMT PRINCIPAL $1100.00 INTEREST RATE $1200.00 $2400.00 ESCROW $2500.00 TA-ES INSURANCE