Homeowners are often transferred to SPS once they become delinquent on their mortgage payments. Many lenders try to protect their brand when it comes to foreclosing on homeowners.
Is Select Portfolio Servicing a lender?
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.
Can I refinance with Select Portfolio Servicing?
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.
Can SPS foreclose on a house?
To be considered for one of these programs, you must submit a complete application to SPS to determine eligibility. If you are facing foreclosure on your mortgage serviced by SPS, we can help you understand your options for stopping the foreclosure and staying in your home.
What bank owns SPS servicing?
SPS has serviced residential mortgage loans for more than 30 years and RMBS transactions for 19 years. SPS is wholly owned by Credit Suisse and acts as a key component of its parent’s residential mortgage conduit.
What is SPS in financial services?
Federal government agencies use the Secure Payment System (SPS) to schedule payments securely, certify those payments, and send the schedules to the Fiscal Service electronically.
Can you pay SPS with a credit card?
You may make a payment through our automated system or by speaking to a representative. Payments will be withdrawn from your bank account, so please have your account and routing number ready. Credit and debit cards are not accepted.
How do I order a payoff from SPS?
There are several ways you may obtain a payoff quote:
Online. Request a payoff quote through this website.Phone. Call one of our experienced Customer Service representatives to request a payoff quote.Mail* Send your request to: Select Portfolio Servicing, Inc. Attn: Payoff Dept. Fax* Fax your request to 801-269-4269.
What is a mortgage recast?
A mortgage recast is when a lender recalculates the monthly payments on your current loan based on the outstanding balance and remaining term. When you purchase a home, your lender calculates your mortgage payments based on the principal balance and the loan term. Every time you make a payment, your balance goes down.
What is a payoff quote?
A payoff quote shows the remaining balance on your mortgage loan, which includes your outstanding principal balance, accrued interest, late charges/fees and any other amounts. You’ll need to request your free payoff quote as you think about paying off your mortgage.
What does home retention mean?
Home retention occurs when the borrower has suffered a hardship such as unemployment, increased expenses, reduction of income, divorce or death. Home retention options are offered to a borrower who has the financial ability to enter a workout option and wants to stay in their homes.
How do I get my 1098 SPS?
Year-end information will be available via our automated voice response system on January 2nd. Duplicate year end statements can be obtained from our website Click Sign In and log into your account today and view or print a duplicate copy at your convenience.
Is SPS a collection agency?
Select Portfolio Servicing, Inc. is a debt collection company located in West Valley City, Utah, with an office in Jacksonville, Florida. It was established in 1989, has over thousands of employees across its two locations, and is managed by its President, Timothy O’Brien.
Does Select Portfolio do loan modifications?
Modification –We may be able to provide you with a more affordable monthly payment by making changes to the terms of your mortgage loan. These changes may include a reduction of your interest rate, a partial payment deferral or an extension to the maturity date of your mortgage loan.
