SPS - Select Portfolio Servicing - Fairbanks
Capital LOST PAYMENT ripoff WON'T REIMBURSE OF FORWARD TO NEW LENDER UTAH And Jacksonville FLORIDA

SPS received and cashed my mortgage payment check November 10th (my check cleared my bank acct. November 10th). They have not yet credited my account for that payment.

They have received from me copies of the check that cleared, front and bank with all routing numbers 6x by fax.

I have faxed this information to FL customer Service 2x; to UT Cash unit 3x; to FL - Consumer Affairs Department x1. I have all the fax transmittal confirmation printouts that evidence receipt of the faxed informaiton.

They have refused to acknowledge receipt, saying time and again on the phone that they have never received the copy of the cancelled check that I've faxed.

They have not forwarded the payment to the new loan servicer, ASC - America's Servicing Company, who is threatening to report me late.in order not to be reported late I have sent in an additonal payment to the new lender. I have also faxed the same documentation 2x to ASC. Today they, ASC, slapped a notice on the multi-unit property that is financed saying they were trying to collect a debt, and scaring my renters! And yet I am not late with them (another lender to be concerned about?)

I reported the matter regarding SPS December 10th to Utah's Department of Commerce by fax using their internet-provided form, with no response as yet.

I have been on the phone at least 9 x with SPS trying to get resolution but with the same run-around responses:

"You need to contact another dept" (namely 'Cash Unit' or 'Cash receipts'; "No, we can't put you through directly - they don't take direct consumer phone calls"; "They tried to call you but you didn't respond" (they have 3 phone numbers for me - all with voice mail... But I have yet to hear from them even once!); "We didn't get the copy of the cancelled check"; "We didn't get the back of the check" (I've faxed both every time = 6x); "You need to fax it to a different fax number"; "We can only tell you what you owe"; "We don't handle that here"; "Our electronic notes say we received the fax, but they closed the case because of insufficient information... (I have supplied exactly what they need each and every time). And so it goes on.

I have supplied SPS with:
1. Front and back copies of the cancelled check 6x
2. Complete and numerous contact phone numbers to get in contact with me
3. Offers for more information
4. Evidence of the previously sent faxes (the fax confirmation printouts)

I have waited per their instructions to let them have time to resolve the matter only to be told 3x that the matter was closed - then upon insisting I finally get them to re-open the matter because the customer svc rep can see I've sent the proof of payment, but the Cash Unit / Accounting poeple won't acknowledge it!

This company is horribly negligent in this matter. The CEO, Matt L. Hollingsworth, has taken over a poorly run company that has defrauded many. The Corporate Relations Manager, Elys B Mond, has a tough sell in the industry because they have such a poor reputation - and yet PMI is one of their investors because their practices are yet very profitable for them! Because they are a privately-held company as yet, they are not as tightly regulated as other companies.

I ended up with this lender only because of utilizing an aggressive LTV purchase program, yet I've learned they are primarily sub-prime in lending and evidently contribute to significant client credit issues and forclosures because of their very poor, and inefficient (and, according to the FTC, dishonest) way of communicating with clients.

See this website: http://www.ftc. Gov/fairbanks/:
They settled with the FTC (in their former name as Fairbanks Capital Corp.) in the amount of $40 million, to resolve FTC and HUD charges that it engaged in widespread loan servicing abuses. Then they changed their name to SPS - Select Portfolio Servicing. It is only a name change - they are the same company.

I have only a few days before I lose patience and fly to SLC and file a lawsuit with an attorney there (SLC is the headquarters location).

I am especially interested in learning of others who would like to participate in a class-action lawsuit. If I don't get resolution myself bery soon, I will be proceeding with a lawsuit regardless.

I am also interested in collecting the stories of those who have similarly been abused by SPS / Fairbanks, and will be contacting media outlets so as to warn others about their still-current abuses.

Please feel free to contact me by using the rebuttal box below.

NOTE - they were previously know as Fairbanks but are now known as SPS - Select Portfolio Servicing at www.spservicing.com

Company: SPS - Select Portfolio Servicing - Fairbanks
Country: USA
State: Utah
City: Salt Lake City
Address: 3815 S West Temple
Phone: 8002588602

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