Is Select Portfolio Servicing legitimate?
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Is Select Portfolio Servicing legitimate?
Select Portfolio Servicing is a loan servicing company based in Salt Lake City, Utah, with an additional office in Jacksonville, Florida. Founded in 1989, SPS is not accredited by the Better Business Bureau (BBB) and has received hundreds of complaints for billing/collection problems and potential FDCPA violations.
Is Select Portfolio Servicing a collection agency?
Select Portfolio Servicing, Inc. is a debt collection company located in West Valley City, Utah, with an office in Jacksonville, Florida.
What bank owns SPS servicing?
Credit Suisse
SPS has serviced residential mortgage loans for more than 30 years and RMBS transactions for 19 years. SPS is wholly owned by Credit Suisse and acts as a key component of its parent’s residential mortgage conduit.
What is the grace period for Select Portfolio Servicing?
Late fees will not be charged for 60 days following the transfer date. In addition, we do not negatively report credit for 60 days following the transfer date.
Can SPS foreclose on a house?
To be considered for one of these programs, you must submit a complete application to SPS to determine eligibility. If you are facing foreclosure on your mortgage serviced by SPS, we can help you understand your options for stopping the foreclosure and staying in your home.
Why was my mortgage sold to SPS?
Homeowners are often transferred to SPS once they become delinquent on their mortgage payments. Many lenders try to protect their brand when it comes to foreclosing on homeowners.
Who is the CEO of SPS servicing?
Randhir Gandhi
As of July 2020, Select Portfolio Servicing’s current CEO and President is Randhir Gandhi.
Why did Wells Fargo transfer my mortgage to portfolio servicing?
Many lenders try to protect their brand when it comes to foreclosing on homeowners. For instance, a company like Wells Fargo does not want their brand associated with a foreclosure, so it’s likely they will transfer your servicing to a company like SPS once you become 60+ days past due.
Who owns SPS portfolio?
Credit SuisseCredit Suisse First BostonSP Holding Enterprises Corp.
Select Portfolio Servicing/Parent organizations
