Why was my mortgage sold to SPS?

Homeowners are often transferred to SPS once they become delinquent on their mortgage payments. … Changes may include a lower monthly payment, a lower interest rate, a partial deferral, or reduction of principal owed, or an extension of your maturity date.

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Similarly one may ask, can I stop my mortgage from being sold?

In addition, the new mortgage owner is required to provide you with its contact information within 30 days after the transfer. … Beyond that, the lender has every right to sell your loan and you can’t do anything stop it, said Tammi Lindley, senior loan officer for the Tammi Lindley Team, a mortgage lender.

Moreover, does Select Portfolio Servicing report to credit bureaus? How does SPS collect my personal information? We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Secondly, does SPS refinance?

Can SPS refinance my house? No. SPS is not a bank so we do not refinance. If you would like to refinance you house, please contact the bank or lender of your choice to start the process.

How do I get a payoff from Select Portfolio Servicing?

There are several ways you may obtain a payoff quote:

  1. Online. Request a payoff quote through this website.
  2. Phone. Call one of our experienced Customer Service representatives to request a payoff quote.
  3. Mail* Send your request to: Select Portfolio Servicing, Inc. Attn: Payoff Dept. …
  4. Fax* Fax your request to 801-269-4269.

Is Select Portfolio Servicing legitimate?

Select Portfolio Servicing is a loan servicing company based in Salt Lake City, Utah, with an additional office in Jacksonville, Florida. Founded in 1989, SPS is not accredited by the Better Business Bureau (BBB) and has received hundreds of complaints for billing/collection problems and potential FDCPA violations.

Is SPS mortgage a collection agency?

Select Portfolio Servicing, Inc. is a debt collection company located in West Valley City, Utah, with an office in Jacksonville, Florida.

What bank owns SPS servicing?

Select Portfolio Servicing

Formerly Fairbanks Capital Corp. (1989-2004)
Founded 1989
Key people Randhir Gandhi (CEO and president)
Parent Fairbanks Holding (1989-2004) SPS Holding Corp. (2004-2005) Credit Suisse First Boston (2005-2006) Credit Suisse (since 2006)
Website spservicing.com

What is SPS mortgage?

Select Portfolio Servicing, Inc. (SPS) is an industry leading mortgage servicer. Founded in 1989, SPS is headquartered in Salt Lake City, Utah with an office in Jacksonville, Florida. At SPS, our on-going mission is to provide servicing solutions that exceed expectations.

What is SPS on credit report?

Company Description: Pssst: Select Portfolio Servicing (SPS) services mostly subprime single-family residential mortgage loans. The company collects on impaired-credit loans and non-performing loans for clients such as mortgage companies, banks, and bond insurers.

What kind of company is SPS?

SPS Companies, Inc. was established in 1951, and is a wholesale distributor of products and services for residential and commercial plumbing, mechanical and industrial piping, heating, ventilation, air conditioning, refrigeration, and fire protection.

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