Select Portfolio Servicing, Inc Mortgage Complaint

Select Portfolio Servicing, Inc Mortgage department,

Conventional fixed mortgage Loan modification,collection,foreclosure Nevada

I write this letter with the hope that someone in your agency may be helpful to assist me/us in the resolution of a longstanding issue we 've been experiencing while in the process of negotiating a short sale on behalf of Mr. Realtor 's client : Homeowner Mr . Homeowner is a diplomat with the - government. -/-/- Mr . Homeowner was forced to relocate his family to - on assignment to fulfill his Consulate duties. Since the above mentioned property 's value was considerably less than the current market he hired Mr. Realtor -/-/- to proceed with a short sale. A complete short sale package was submitted to the 1st lienholder ( SPS ) -/-/-. Mr. Realtor proceeded with marketing the property for sale via the local *REALTOR 's Multiple Listing Service ( MLS ).


delays were varied - from the net proceeds being insufficient, documents required to be updated to Broker Price Opinions ( BPOs ) expiring due to the lengthy process. Finally, after procuring the third buyer an approval was granted - -/-/-. By this time the buyer in question was forced to cancel because he could n't afford to wait any longer as his living conditions were temporary and he needed to renew a lease. The property was subsequently returned to the MLS and another buyer was procured as a result. By this time since the seller 's net proceed was known in accordance with the approval granted with the previous buyer - Mr. Realtor saw no reason why a subsequent approval would n't be expedited as identical terms were negotiated to protect the net proceed amount required by the lienholder ( s ). Until today SPS has not provided us with an approval giving the most unreasonable excuses. It appears that SPS has not trained their employees properly when it comes to loss mitigation guidelines and procedures specially for the State of NV. Therefore, I 'm reaching out to your agency for help since we have done everything within our ability over the last twenty two months to complete this short sale - procuring four separate buyers - providing all the required documentation - only to discover SPS failure to perform in accordance with loss mitigation guidelines that are in place for the state of Nevada. We believe Mr . Homeowner 's consumer rights have been violated. SPS has made this client feel unprotected by this unfortunate situation. The homeowner " Mr . Homeowner '' is in distress as he is a foreign diplomat who is obviously concerned about having a foreclosure on his record.