Credit Suisse Owned Select Portfolio Servicing Busted! Servicer Accused Of Jerking Around Black Homeowners, Again!

Select Portfolio ServicingSelect Portfolio Servicing is busted jerking around people of color. This isn’t the first time. I’ve written about this multiple times.

However, this time it was WFTV Reporter Todd Ulrich in Orlando who busted them. Ulrich also received the run around from SPS. As a result, he reached out to me for assistance.

So, here’s the story. Ulrich received a call from African-American homeowner Earnest Mackroy in Apopka, Florida.  Mackroy claims he paid off his mortgage that was being serviced by Select Portfolio Services.

SPS is owned by Credit Suisse. Credit Suisse is a Swiss bank based in Zurich, Switzerland. The bank came under fire in the 1990s for allegedly hiding Nazi assets. The Simon Wiesenthal Center alleged the assets were stolen from Jews and other groups as the Wehrmacht goose stepped across Europe in the 1930s and 1940s. 

Mackroy waited and waited for SPS to file a Satisfaction of Mortgage with Orange County. He waited and waited for months. He then inquired with SPS for an update.

SPS shocked Mackroy with their response. 

Mackroy told WFTV that SPS stated his pay off amount was insufficient. He also stated SPS then demanded five more years of payments.

Select Portfolio Servicing said a clause in their original loan provided a 20-year option. Therefore, they owe an additional $16,000.

Mackroy claims he and his wife never requested the 20-year option and they never missed a payment. 

He also says that he questioned SPS about his transaction history. Unfortunately, no one would give him a straight answer. So, he requested a copy of the complete transaction file from SPS. They allegedly refused to do so. 

You can see the news story from WFTV below:

Also, Can Select Portfolio Servicing Validate Your Mortgage Debt? Read More Below:

Can SPS Validate Your Mortgage Debt?

(5) Comments

  • mike parker 11:29:39 am March 27, 2021

    Interesting read on SPS, who happens to be my mortgage servicer, and are the worse possible. What I struggle with everyday is how can SPS get away with the many fraudulent things they boldly practice.

  • Angry and outraged by the truth. 11:29:39 am March 27, 2021

    Select Portfolio Servicing hasn’t JUST been stealing HOMES from people of color. Thousands of us have been fighting them for years. They love to target people of color, but also the elderly and disabled. They are the biggest thieves – even most of their employees can’t stand them. They’ve (already) been in trouble with the Feds, but have just continued doing whatever they want.

  • Z. Jumarally 11:29:39 am March 27, 2021

    I had an adjustable rate mortgage, I was referred to an attorney who was supposed to help me get a loan modification but he didn’t do anything for me. My home was in foreclosure so I hired an attorney who help me with chapter 13 bankruptcy with the intention of getting a loan modification with selected profolio services. Select profolio refused to give me a modification the keep asking for the same documents over and over again and then they say I don’t make enough income to qualify for a loan modification. I’m still trying to get a modification but Select profolio is doing the same thing that we’re doing in the past. They have a lot of fraudulent cases in the past. I hope they get put in jail for all the things they are doing to people.

  • Stephen Dibert 11:29:39 am March 27, 2021

    We may be able to help. Give us a call at 888.737.6344 -Steve

  • Rena Miller 11:29:39 am March 27, 2021

    Do you have anyone in Illinois?

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