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: 227
Latest Activity: Dec 4

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

Short Sale -> Short Pay

Started by Greg Kristy. Last reply by Brett Goldsmith Dec 4. 7 Replies

Has anyone been offered this option via SPS?  This little known, sister to the Short Sale, is claimed to be like a short sale except without the arms-length restrictions.  However no closing costs,…Continue

Select Portfolio is Stalling

Started by Kay VanKampen. Last reply by Greg Kristy Nov 20. 1 Reply

I have worked a short sale for over a year with Select Portfolio Servicing.  I'm now on the 3rd offer.  This offer was presented in May, when I sent all the paperwork to the bank.  In July, I was…Continue

Tags: Short, Sales, Bank, Chase, Portfolio

SPS 2nd mortgage

Started by ash lomont. Last reply by Tony Morales Oct 24. 7 Replies

Hello,I have a short sale that has an SPS 2nd mortgage. The 1st mortgage is with Mr. Cooper and is a Freddie Mac Loan. The 1st mortgage holder will give the 2nd mortgage holder $6000 per Freddie Mac…Continue

Tags: SPS, Mr., Cooper, mac, freddie

Will Select Portfolio Servicing contribute to the 2nd lien

Started by Juan Reyes. Last reply by Tony Morales Jun 1. 2 Replies

I just initiated a SS with SPS and when I was on the phone with the rep I asked how much does SPS normally contribute to the 2nd lien holder in order for them to approve the short sale... She then…Continue

Comment Wall

Comment

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

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!

Comment by N S on June 4, 2014 at 7:05am

How is SPS in granting extensions? We have an approval from SPS but the IRS lien is taking a bit longer...anybody see any potential problems getting SPS to approve an extension?

 

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