- Report: #647024
Complaint Review: Select Portfolio Servicing - Internet
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Author Not Confirmed
Why?
Select Portfolio Servicing
Internet, United States of America
Phone:
Web:
www.spservicing.com
Categories:
Business Rating:
(0)
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Select Portfolio Servicing SPS SPS is illegally collecting Conti Mortgage Loans Internet
In About 2000, Conti Mortgage filed for Bankruptcy. In about 2007 the Federal Court allowed Conti to destroy 40,000 boxes of mortgage documents containing loan note originals and all electronic copies as well. In 2008, Contiliquidators paid off all SPV loan pools for about 14 cents on the dollar and that satisfied all outstanding debt of the company and all investor monies due them against any monies owed for the mortgages that were held in the investment pools. SPS then bought the unsecured servicing rights to all the remaining mortgages that had just been paid off by Conti and have been illegally collecting mortgage payments on all these paid off and unsecured loans since 2008. They have no loan papers sufficient to foreclose on any home that had been held by Conti and they have admitted to just being a "debt collector" here in Texas to the BBB. If they are just a debt collector, then they have no standing under the Fair Debt Collection Practices Act to foreclose on a home as a 3rd party unsecured debt collector can't foreclose. Start Filing RESPA requests and more. Check under CFN Liquidating Trust and go to their web site cfntrust.com. All the document you may need are there. Also go to our web site on facebook for more info on other scammy companies as well -Homeowners Against Mortgage Servicing Fraud.
