Select Portfolio Servicing (SPS) Application, Forms And Packages

Select Portfolio Servicing (SPS) Loan Modification Package, Application and Forms

 What is a SPS Mortgage Loan Modification Package?

Select Portfolio Servicing, Inc. (SPS) requires a SPS Loan Modification Package known as the RMA or Request for Mortgage Assistance which also includes their own SPS Hardship Affidavit. This paperwork changes all the time. In most cases when applying you have to use the latest paperwork; Always check with a someone who deals with this regularly. The package and forms we last found was put up on the Absolute Consultant Group(ACG) website for educational purposes. Here at Absolute Consultant Group we help homeowners with their Select Portfolio Servicing (SPS) Mortgage Loan Modification process and we can help you too.

There are 9 sections to the standard SPS Loan Modification Package and totaling about 7 pages.

SPS (RMA) Request for Mortgage Assistance Programs Package Breakdown:

Mortgage Relief Application Check List

1. Section 1 RMA – Borrower Information – This section basically requires the Select Portfolio Servicing (SPS) customer to put the borrower contact information, how many people living in the home, if the client has filed bankruptcy,  and some basic information about themselves. Additionally they like to know if any other mortgage has received government assistance (HAMP).
2. Section 2 SPS Request For Mortgage Assistance (RMA) Form – Hardship Affidavit – This is the section where you give the bank information about what caused you to fall behind and if your hardship has been resolved.
3. Section 3 Additional Property Information – In this section the bank asks to know if this is your primary residence, if you are planning to keep it or if it is up for sale, and more information about the property itself.
4. Section 4 Mortgage Borrower Financial Information Breakdown – In this section SPS asks for your monthly budget. This includes knowing your gross/net income. In this section include if there are any non-borrower contributors to be considered as part of the budget. Document assets here as well. Bank checking accounts and anything else you have of value. This is the section where you list your monthly expenses covering everything from food to utilities to child costs. SPS lists the required documentation for all income types.
5. Section 5 SPS Package –  Other Properties Owned – This is where you need to list the other properties you own and the details corresponding to each including the costs, homeowners association dues, taxes, and insurance. It also asks if it is a vacant, second or seasonal home, or if it’s rented.
6. Section 6 Other Property Type Requiring Assistance – This section is only filled out if you are looking for assistance on a property that is not your primary residence. They get the same basic information they requested in section 3 but they want it more spelled out here outlining the costs associated with the property. HAMP Rental Property Certification is also required though the HAMP program is no longer around.
7. Section 7 Dodd-Frank Certification – This is a certification that states you were not previously convicted of any financial fraud along with other disclaimers. Make sure you read it thoroughly before acknowledging it.
8. Section 8  Government Monitoring – This section basically wants to know your herritage (Race) though they cannot use this information to discriminate you.
9. Section 9 Borrower Acknowledgment and Agreement – read through these statements as Select Portfolio Servicing and their investor will require you to agree to them. Make sure you sign and date the document.

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