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: 233
Latest Activity: May 31, 2023

Short Sale information for Select Portfolio Servicing

 Click The Button Now To Hire A Short Sale       Superstar To Support You. 

 

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, 2018. 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, 2018. 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, 2018. 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, 2018. 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

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

Comment by Kathleen Sheridan on September 22, 2012 at 9:40am

What you are in for is Xtreme Real Estate.

SPS will tell you and/or your seller the date when they will have the file in their system. On that date the seller needs to call, and get the new account number. Quickly send them your 3rd party authorization.

I recommend that you email everything, and have each document  labeled so that there is no mistaking what you are sending. They will tell you the docs that they need. 

You will have to follow up daily, or even 2x a day if you time is short. Get the number for the short sale dept and call that number. 

Keep in mind that each time you call in you are getting a different person on the phone, who can easily pull up the file and read the titles of the items that are there. However, it takes them a bit of doing to pull up a document so that they can review it. You may need them to escalate your file. Mine was escalated twice. 

The SPS staff in Utah are very nice, and they do what they say, on the other hand, they are swamped with all of these new files that are mostly in the same condition, i.e. needing quick review. 

My file did settle on time. It was, however, a photo finish. The last week I was calling them at least daily, and then emailing everyone involved with the settlement with an update. SPS promised to get the new approval by the 7th which was the deadline for settling based on the BofA approval. The title company and the buyer's mortgage company didn't want to set up the settlement until they had the new approval. Lots of communication kept them on board. At the last hour on the 6th, SPS told me we could settle on the 7th with the BofA approval. Their written approval arrived at noon on the 7th. The mortgage papers were ready at 1PM. We settled at 3PM.

It took me a couple of days to recover!

Comment by John Edelman on September 21, 2012 at 9:13am

It does take a little while for the new servicer to have it in their system.

 

You may try again if it has been awhile.

Comment by Lisa Helweg on September 21, 2012 at 8:50am

@ John - We tried that without success, but maybe that we tried too soon.  Thanks!

Yes there are...what's up, I wonder?

Comment by John Edelman on September 21, 2012 at 8:46am

You can have your seller call in to the new servicer and by providing his/her SSN, should be able to get the new loan number.

 

Seems to be a lot of transfers going on with B of A.

Comment by Lisa Helweg on September 21, 2012 at 8:02am

@Kathleen Sheridan - I am in a situation similar to the one you described on August 13th below -

BofA approved an offer on 8/29, file was transferred to SPS on 9/7, approval is good through 10/05.  We cannot talk with SPS until they have a 3rd Party Authorization, but we only have BofA's loan number...

Any suggestions based on your previous experience?

Anyone's advise would be appreciated!  Thanks!

Comment by Steven Angelil on September 4, 2012 at 10:18am

SPS does not take any docs w/ e-signatures.  Argh! The rep. I spoke w/ said this was the first time he has heard this question. 

Comment by Kathleen Sheridan on September 2, 2012 at 7:32am

SPServicing just received large groups of files, 2 groups from BofA that included files I'm working on. They admit to being overwhelmed at the moment. Send in docs via email, it works much better. Be sure to name each doc so that it is clear what it is. Email address: [email protected]. Call every day to be sure that they are processing the file correctly. 

Comment by Steven Angelil on September 2, 2012 at 6:37am

I tried emailing SPS and after about a day or two it bounced back.  So I just re-sent everything to their fax number via email.

Comment by Janine Margaret Nielsen on August 22, 2012 at 10:25am

Need help with SPS. We have received verbal approval but not written. Its been several weeks and can not get an answer.

Any high level contacts at SPS, anyone????

Comment by Thom Colby CA Brkr 888-391-5245 on August 13, 2012 at 12:07pm

Kathleen - Tweet @BofA_Help and ask them to keep the loan so you can close on schedule.  Maybe you've already tried but it's an idea....  Best of luck, Thom p.s. send me an e-mail at [email protected] and I'll give you an Executive contact.

 

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