Select Portfolio Servicing (SPS) Loan Modification

SPS Modification Decline Review

Selecct Portfolio Servicing Mortgage Modification Denied?

Get Help With Your Select Portfolio Servicing (SPS) Loan Modification

Talk To A Specialist Who Knows How To Deal With A SPS Mortgage.

Get Help With Your Select Portfolio Servicing (SPS) Loan Modification

Talk To A Specialist Who Knows How To Deal With A SPS Mortgage.

Select Portfolio Servicing (SPS) Mortgage Modification Process

 

Select Portfolio Servicing, Inc. (SPS) Modification process goes through a similar to lending industry standard process:

  1. Interview By Phone This Phone Call Starts The Loan Modificaiton Review Process
  2. Package Submission Completing Select Portfolio Servicing’s Request for Mortgage Assistance (RMA) Forms And Package Of Paperwork Will Require The Fianances To Be Documented And The Borrower To Provide Supporting Documents.
  3. SPS’s BPO  (Broker’s Price Opinion) Valuing The Property May Be Required (If, Applicable) – Often This May Also Be Done Via An Automated Valuation Model (AVM)
  4. Negotiations The Modification Review Is A Process, The Terms Are Reviewed, Negotiated and Sent To Underwriting For Approval
  5. Modification Approval/Decline Servicer Responds On Behalf Of The Investor

We lament that the process is never this easy though. We, Absolute Consultant Group (ACG), support homeowners through the loan modification process with their mortgage servicer. Cicles are typical with the SPS’s Loan Modification Process. Having to resubmit things to the lender is also typical.  The transfer game from department to department like running around from SPS’s Mortgage Loan Modifiation Department (Loss Mitigation) to Select Portfolio Servicing’s Customer Service Department is also quite normal. Submitting the wrong information on your application, getting denied, and not being able to figure out what happened is why coming to our staff can help you avoid a lot of heartache. Our staff is available to review your paperwork and to help you step with the best foot forward. Call us at 888-934-3444.

Select Portfolio Serivcing’s Home Mortgage Loan Modification Timeline

 

 A company like SPS Mortgage has a lot of levels of bureacracy. As such, Select Portolio Servicing Mortgage’s Loan Modifcation timelines vary often on things that are straight forward but not always. Here are a few of the reasons this question has such sticky answers.

 

 For one, SPS, is simply a loan servicer; It says it in their name Select “Portfolio Servicing”. They are representing debt on someone elses behalf. This limits all decision making on the part of Select Portfolio. As a home loan note servicer they follow the Pooling and Servicing Agreement (PSA) for each and every loan. This is like an agreement with each institution (investor). They might be delegated to make certain decisions on behalf of the investor they service the loan for but in many cases they are not delegated (non-delegated). This means that for any loan modification term they want to to make they have to get approval from the investor. Certain investors like Fannie Mae (FNMA) and Freddie Mac (FHLMC) often take the process of making decisions and do it themselves. In a heavily regulated business the more hands invovled in each review the longer it takes leaving Select Portfolio Servicing with their hands tied.

 

  • Another issue, with Select Portfolio Servicing’s modification timeline is priority. The servicer has to prioritize by the date the application was received but it can also be influenced by other factors. Libe many businesses this is a first come first service until you ask if, “Does my SPS home loan mortgage have a foreclosure sale date?” If you have a pending foreclosure auction date it is likely you will be pushed to the front of the line and considered sooner for mortgage relief assistance. You have to keep in mind though that servicers, such as Select Portfolio Servicing (SPS), have homes on the foreclosure chopping block almost every day. Sadly, a week from today, thought the pressure is on for the homeowner, is not worked as quickly as you might want because there are many foreclosures going to sale. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
  • Lastly, not all mortgage workouts were created equal. There are a large number of programs each with its different terms for how they would modify your loan. Typically, if the first modification type doesn’t work they will review you for the next one, and so on, until they find a mortgage solution that works. Departments due to this “waterfall” process are often very specialized so many times different represenatives handle different parts of the review. An example of this is how Loan modification negotiators review only loan mods while short sale negotiators only review short pays (discounted payoffs). 

 

 

SPS’s Home Mortgage Loan Modification Timeline Conclusion: While it would be nice to give our clients  a specific turn around time for their modification to bereview the timelines will vary greatly from customer to customer. Whether the decision can be made by the servicer themselves or if they have to send it  out for the investors appoval, whether you fit the first plan you are reviewed for or the 11th plan, along with factors outside the bank including but not limited to how fast they are able to get their property values back from valuation companies, how fast documents are received legibly on their end and much much more all effect how long it will take for your Select Portfolio Servicing’s Home Mortage Loan Modifiication to be reviewed.

If Your SPS Modification Has Been Denied. It May Not Be Too Late

Dealing With An Select Portfolio Servicing (SPS) Loan Modification Decline

 

Have you been declined by SPS? Has Select Portfoilo Servicing denied your Often dealing with an Home Loan Modification Decline may be confusing. Understanding the details of all the plans and how that conflicts with your information is key. Here at ACG we have dozens of points we review in order to understand why your SPS Home Mortgage loan modification was rejected. Have us review your declined modifcation for free by calling us at 888-934-3444.

Additional Select Portfolio Servicing’s Mortgage Contact Information

 

Select Portfolio Servicing Customer Service

SPS Home Mortgage Complaints

SPS Loan Modification Reviews

Select Portfolio Servicing Loan Modification Complaints

 

Often our organization has gotten on the phone with a SPS Home Loan Mortgage for one of our Customers where we are clearing up misunderstandings. They tell us they have everything for the loan modification review and then later again they are missing items. When dealing with a Select Portfolio Servicing Home Loan getting a straight story can be difficult which is why we are here to help you with your SPS Mortgage. Call Absolute Consultant Group at 888-934-3444.

SPS 1 Star Reviews

 

SPS 1 Star Review:

 

 Like many, my mortgage loan was sold to SPS, and it has been one nightmare after another. I sent in paperwork for a loan modification in November 2016. I did not hear from anyone and when I called, they said there was one page they could not read. No one called me and informed me.

Yolanda, Marietta, GA

SPS 1 Star Review:

We didn't qualify for any hardships and instead were instructed to go into a "simple" 6-month loan modification process to catch up on our payments.

They sold this as the best option for us. What they didn't tell us was that for all six of those months, which we had paid an extra $150 on top of our regular payments, that my payment history would still show delinquent for each month. Had we known that, we would have dipped into savings to simply catch up. After numerous calls with very unprofessional and unhelpful reps, we were basically told that they couldn't help us with anything.

Ryan, Dallas, GA

Don't Be A 1 Star Review

Don't Be A 1 Star Review

SPS 1 Star Review:

My loan was sold to Select Portfolio and several people from there told me that they would help us to keep our home. We applied for a modification in order for us to be able to pay the loan because we are on disability and they denied us the modification.

Marieta, Clearwater, FL

1 Star Situations Happen Every Day

ACG 5 Star Reviews

ACG 5 Star Review:

Tried modifying my mortgage loan on my own, twice actually, but no luck. Until I called ACG. [I] got my loan mod approved and all is well.

 

Michael, Woodland Hills, CA

ACG 5 Star Review:

We were struggling trying to get assistance in keeping our home for over a year when I was introduced to ACG Today both my homes are modified and our family has a chance for a fresh start.

Patricia, Porter Ranch, CA

ACG 5 Star Review:

I have worked with [the] team personally and professionally referring them many clients over the past few years. If you need help with a loan modification, short sale, or want to avoid foreclosure I highly suggest you use Absolute Consultant Group!

Daniel, Santa Clarita, CA

You Can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your SPS Mortgage.

You Know You Can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your Select Portfolio Servicing Mortgage.

SPS Loan Modification Mortgage News

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