SPS Select Portfolio Servicing, inc

Information

SPS Select Portfolio Servicing, inc

For Short Sale - Overview

Homeowners interested in pursuing a short sale, can call 888-818-6032 to speak with a Loan Servicing Representatives

To speak to a Loan Servicing Representative to Help you with answers to your questions regarding the status or history of your account call please call 888-818-6032

Representatives are available 

Monday through Thursday from 8:00 AM to 11:00 PM, Eastern Time.

Friday from 8:00 AM to 9:00 PM, and Saturday from 8:00 AM to 2:00 PM,Eastern Time.

Website: https://www.spservicing.com
Location: Pasadena, California
Members: 222
Latest Activity: Aug 8

Short Sale information for Select Portfolio Servicing

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Select Portfolio Servicing Short Sale Requirements

Short Sale - Overview Link to the website

Government Counseling / Resources for homeowners link to website

Have the borrower call Short Sale Department 1-888-818-6032. After SPS determines eligibility submit;

  • Letter documenting your current financial hardship.
  • A copy of the current listing agreement.
  • If there is an offer pending on the home, a copy of the purchase contract
  • The HUD-1 Settlement Statement signed by all parties.

fax, or email your documentation to:

  • Fax:
  • 801-270-7833
  • Mail:
  • Select Portfolio Servicing, Inc.
  • P.O. Box 65250
  • Salt Lake City, UT 84165-0250

ESCALATION INFORMATION FOR SELECT PORTFOLIO SERVICING

You may contact the Select Portfolio Servicing Consumer Ombudsman through the following channels:

By email at [email protected]
By phone at 866-662-0035
By fax at 801-293-3943

Discussion Forum

Loan got Transfered to SPS by Chase after getting short sale approval from 2nd lien holder..

Started by Rashida Furniturewalla. Last reply by Rashida Furniturewalla Aug 9, 2016. 2 Replies

The short sale I was working with CHASE got transferred to SPS on August 1st 2016. This property has two liens on it. I got an approval from the second lien holder which expires on August 29th. And…Continue

Tags: transfer, sale, short, CHASE, SPS

HAFA SHORT SALE (SPS IS 2ND) demaning $12000 (which is 75% of UPP)

Started by Jason Sanseverino. Last reply by Alexis Adams Mar 30, 2015. 3 Replies

All -I have a HAFA short sale with SLS (1st) and SPS (2nd).I have approval from SLS - the approval offers SPS 10% of UPP (which is $3300). SPS is demanding $12000 (HAFA MAX o junior lien). I…Continue

SPS Refusal to extend close by 10 days (including weekend/holidays) Day of Close Canceled!

Started by Linda Boller. Last reply by Linda Boller Dec 31, 2014. 2 Replies

We have been negotiating a Short Sale in Florida since July. SPS finally accepted offer mid November with a close on or before 12/19. Title Company was working on IRS Tax Lien release. Broker said he…Continue

Escalation to SPS

Started by N S Jul 20, 2014. 0 Replies

Hello everyone,We are buyers in a SS which has two liens with SPS and one with the IRS. After waiting forever, we finally got approval from the IRS but it's only valid through JULY 31.SPS had…Continue

Comment Wall

Comment

You need to be a member of SPS Select Portfolio Servicing, inc to add comments!

Comment by Thom Colby CA Brkr 888-391-5245 on May 9, 2017 at 11:15am

Kimberly S. Ruley - what EXACTLY is the "Broker Fee" for?

Comment by Brett Goldsmith on May 9, 2017 at 10:44am

@kimberly, they consider that commission. They don't want to see brokers getting more money than what they allow. Any servicer who pays attention to the buyer side likely would deny it.

Comment by Tony Morales on May 9, 2017 at 10:40am

Kimberly, I don't understand the issue.  Is the listing agent splitting their commission with you?  Are you charging the buyer a separate fee above what the listing agent is giving you?  and what would that fee be for anyway?

Comment by Kimberly S. Ruley on May 9, 2017 at 10:33am

Greetings! I have 2 short sales with SPS. I represent the buyer also and charge them a broker fee on line 704 of the HUD. SPS is telling me to remove it because according to their guidelines, commission caps at 6%. I am asking for it to be reviewed again because it's not coming out of the lender's pocket, only the buyer. Has anyone had this issue? It makes absolutely no sense to me. I've never had this issue with other lenders.

Comment by Brett Goldsmith on November 22, 2016 at 4:41pm

Russ! Sorry to hear about that. SPS is usually pretty good but do tend to put things towards the back of the line whenever a change occurs. I recommend you continue speaking to the ombudsman department and sending in the requested items via email and fax.

Who's the investor on the note? If you think there are servicing issues some people may reach out to the CFPB. Often so this does not garnish much results.

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Russ Trinidad on November 21, 2016 at 5:19pm

SPS Runaround. I have been working on this SS since june 2016. I initiated ss with a complete SPS provided SS package. Then SPS request docs, i submit, they request new docs, i resubmit, back and forth. We are now 5 months later and they are still requesting the same docs. I never speak with the same person. I have escalated to their Ombudsmen but to no avail. Does anyone know how I can escalate to someone to take responsibility of this file? To which government agency can i report SPS to. 

Comment by Brett Goldsmith on August 23, 2016 at 2:23pm

@ludora I have quite a few times. Who is having the issue, SPS or SLS?

[email protected]

310-564-6389

www.ishortsalenow.com

Comment by Ludora Cooper on August 23, 2016 at 10:34am

Has anyone had any Success with getting a short sale Approved with SPS that had a second mrtg attached (SLS)? This has been the worst experience by far. This is the 3rd contract we have submitted on this home. Each time they have an issue with the offer amount/value?? The offer is $245K the BPO came back at $250K.

Comment by Celeste ODea on August 20, 2016 at 1:12pm

Does SPS accept electronic signatures on Listing Agreements and sales Contracts?

Comment by Richard "RJ" Kas on October 30, 2014 at 12:18pm

Been trying to get HUD Approval for 2 days in order to close on time.  Couldn't seem to get it and was looking to now have to get a closing extension when lo and behold...a very helpful person comes on the line and says... Call direct to the Collateral Dept where the HUD Approvals takes place and provides me the number. 888-349-8960 ext:67416.  I dialed the number and it went direct, so I didn't need the extension but within 20 minutes of my dire explanation, the HUD Approval was faxed to me and we are closing on time.  Just thought I would pass along the # to all the Superstars! Happy Halloween!

 

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