Does Anyone Have Sps As Mortgage Servicer?

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Lapri

LoanSafe Member
Feb 17, 2010
51
0
6
Our mortgage servicing right has just been sold from Ocwen to Special Portfolio Servicing (SPS). I've checked several message boards that are downright scary, with horror stories of SPS as servicer harassing the borrowers and foreclosing without due process, etc. Does anyone here have them as servicer? What's your take?

Ever since the very quick loan mod, Ocwen has been mostly wonderful, and the payment is current. I am not happy at all with this change, but it looks like I have no choice but dealing with them. Any input appreciated.
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,855
467
1,000
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Southern California
www.loansafe.org
Hello Lapri,

There have been many members here who have or had SPS as their servicer. Many have been approved for a loan modification as well. I suggest you study these threads and maybe chime in.

Mod Success With Select Portfolio Servicing | LoanSafe's Mortgage ...
www.loansafe.org/.../mod-success-with-select-portfolio-servicing.90171/
4 days ago - Long story short. Had Chase for years and tried to get a mod for over 5 years with no luck. Then loan was sold to Ocwen. Tried to get a mod and was.

Select Portfolio Servicing Mod Success | LoanSafe's Mortgage ...
www.loansafe.org/forum/.../select-portfolio-servicing-mod-success.9004... Feb 10, 2015 - 2 posts - ‎2 authors
I wanted to report our success in obtaining a loan modification working with SPS. Our interest rate and monthly payment was reduced approx. 28%....

Anyone Successfully Complete Select Portfolio Servicing ...
www.loansafe.org › ... › Bank of America Mortgage Help May 24, 2013 - 12 posts - ‎9 authors
All SPS postings seem to have a common theme if even offered a ... I just received my permanent modification from SPS today under the DOJ ...

Yes! Final Mod Approved By Sps..... Have Questions ...
www.loansafe.org › Forums › Foreclosure Advice › Loan Modification Aug 27, 2014 - SPS (Select Portfolio Servicing) sent the final package 6 days after my ...

Anyone had Success with Select Portfolio (SPS) Loan Mod ...
www.loansafe.org › Forums › Foreclosure Advice › Loan Modification Mar 27, 2014 - Hi, just curious if anyone here had success with their loan mod with Select Portfolio (SPS). I am in the process of applying for a loan mod, I don't

Made my third trial payment with sps. | LoanSafe's Mortgage & Real ...
www.loansafe.org › ... › Foreclosure Advice › Making Home Affordable Jan 20, 2014 - 9 posts - ‎5 authors
I made my third trial payment with sps the end of December for a January 1st payment. I was with chase, working with a lady in a local chase ...
 

Lapri

LoanSafe Member
Feb 17, 2010
51
0
6
Thanks Moe, I'm checking them out. It seems people are surprised and happy that SPS came through in loan mod, where major banks failed. Sounds like very similar story that we had with Ocwen. If I remember, Ocwen had terrible reviews too. I don't know what to think of this SPS yet.
 

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
26,855
467
1,000
49
Southern California
www.loansafe.org
You are welcome. Based on the feedback I have seen over the years, you are in much better hands than with Ocwen. But they are a debt collector still and they are here to make a profit. It is all about business.

I think you will be fine as long as you can afford your home and just need a reasonable loan modification to help you do that.

Good luck!