Select Portfolio Servicing, Inc Mortgage Complaint

Select Portfolio Servicing, Inc Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Georgia

- -, - - - - -, - - - -, Director Headquarters address Consumer Financial Protection Bureau - - - - - - -- -- -- Dear - - ; RE : SPS : - - SPS refund excessive property taxes from - to - estimated has $81000.00 plus interest by - -, -. I would like for SPS to assume the responsibility of collecting the over paid taxes fro - - Findings After numerous attempts to sale - - - -, - real estate experts have informed me that the failure to sale my property for over two years is due to uneconomic and excessive real estate escrow by SPS and - - 's failure to adjust property taxes. Background I spoke to an SPS Ombudsman professional today. The representive implied that the over payment of taxes from - was not SPS responsibility.


- - - appraised my home for >= $1,000,000. I purchased the home for >= $1,000,000. Non Market Assessment During the Great Recession ( - ) I requested a mortgage Modification from - Mortgage. After the modification I realized that my monthly principal and interest was less than my P & I. I contacted the - - - - and appealed the taxes during this period with no significant change. The servicing right form my mortgage was transferred to SPS during this period. Over the next years from - to today I have corresponded to SPS, - - and CFPB. ( Failure to manage servicing and not being responsive to market decline ). In managing risk SPS was not prudent in challenging an obvious uneconomic structure of a mortgage. The Property Taxes exceed annual Principal and Interest payments. The excessive taxes where the cause of the credit risk and the need to modification. Loss mitigation could have been solved my simply address the tax assessment. SPS and - - continue to escrow and pay taxes has on - real estate prices after an average 30 % market correction. In fact - - increase the assessment. This would imply that market prices very declined during the Great Recession and market prices continued to increase. The - and SPS modifications were reckless an negligence. In fact, my mortgage P & I and taxes were higher after modification than before. First, I questioned the economics of my mortgage in numerous well-documented correspondences to, - -, CFPB and SPS. The major concern was why the principle and interest less that the taxes. SPS never provide a technical explanation or analysis. - Number Location Address - - Assessments - - - - - - $650000.00 - - - - - - - - - CLUB CIR - - - - - CT - - - - - - >= $1,000,000 I will give SPS the rights to pursue the tax over payment to - -. I need my cash by - -, - in order to relocated. Please respond as soon as possible sine I am being removed from the home and need funds to resettle. Sincerely, - -