Select Portfolio Servicing (USA/Curry v. Fairbanks)

This is a discussion on Select Portfolio Servicing (USA/Curry v. Fairbanks) within the Consumer Bankruptcy forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; We were part of the Fairbanks Capitol Class Action Suit and received a small sum in the settlement. That suit ...

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Old Jan 28th, 2007, 10:40 AM   #1
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Question Select Portfolio Servicing (USA/Curry v. Fairbanks)

We were part of the Fairbanks Capitol Class Action Suit and received a small sum in the settlement. That suit involved bogus fee claims, late payment claims among other things.
Dispite this, SPS submitted the original fee of over $8000.00 to the bankruptcy court and it was included in the Chapter 13 Plan and paid.
The attorney for SPS (at that time Fairbanks) filed a motion with the court concerning the late payments plus costs. Our attorney fought the bogus claim by sending copies of canceled checks for every item they submitted resulting in the attorney for SPS filing a motion to dismiss which was granted by the court. My attorney advised to let the fee stand in the plan and explained why.
During phone conversations (after the change from Fairbanks to SPS) they stated that most of their claim (fee) would probably be credited to the principal after discharge and their internal audit.
We have completed the requirements of a chapter 13 plan (never missed a payment) and are awaiting discharge.
I requested and received a payoff statement from the SPS.
The statement now includes $1800.00 in additional fees (I.E. NSF, loan level advance, etc.). I have no idea what these are for.
My questions are:
-How can they expect to keep the $8000.00 (we want the principal reduced by that amount) when they admitted quilt via the class action settlement?
-Why should I have to sue them when they are breaking the law by double dipping the fee that was bogus to begin with?
What can I do?


I personally could not get away with something like this. I would be in prison for fraud.
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Old Jan 29th, 2007, 05:54 PM   #2
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Default re: Select Portfolio Servicing (USA/Curry v. Fairbanks)

If we follow you correctly, cannot you ask the bankruptcy court to reexamine and hold back those funds for you...
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Old Jan 29th, 2007, 06:02 PM   #3
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Default re: Select Portfolio Servicing (USA/Curry v. Fairbanks)

The funds have already been paid by the trustee.
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Old Feb 10th, 2007, 01:41 AM   #4
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Default re: Select Portfolio Servicing (USA/Curry v. Fairbanks)

Unfortunately, David, by settling USA/Curry v. Fairbanks the FTC and the class allowed Fairbanks/SPS not to admit any wrongdoing in exchange for the $40+M. At this point, you may be better off speaking to a reputable consumer protection attorney in order to explore any additional avenues that you may have. USA/Curry only covered events up to December 2003 so anything that occurred after that is potentially fair game legally speaking.

I'm currently exploring the possibilities of their violation of "Best Practices". If you like, drop me a line directly when you have a chance.

Mike Dillon
Manchester, NH
www.getdshirtz.com
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Old Jan 30th, 2008, 08:23 AM   #5
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Default re: Select Portfolio Servicing (USA/Curry v. Fairbanks)

I took them to court and beat them at thier own game, they even paid my attorney fees. The Judge vacated my mortgage with them, it can be done.
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Old Mar 15th, 2009, 11:34 PM   #6
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Default re: Select Portfolio Servicing (USA/Curry v. Fairbanks)

I saw your post on riffoff.com and trying to do additional research on SPS.
Currently trying to save my home from them. and really not having much luck. They have denied my req for a modification cause i make to much. Denied my request for a restruction cause i dont make enough. and they wont tell me why I dont qualify for obamas plan. Besides all that they are charging me a 16% late fee.
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Old Jun 26th, 2010, 04:56 PM   #7
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Default re: Select Portfolio Servicing (USA/Curry v. Fairbanks)

Try getting help from NACA to modify a loan...they are free and strong arm SPS
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Old Sep 15th, 2010, 02:27 AM   #8
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Lightbulb Re: Select Portfolio Servicing (USA/Curry v. Fairbanks)

NACA is a scam! They get paid regardless if they modify your loan or not! Stats are ONLY 4% get modified! NACA San Antonio promised my aged in-laws to fight their servicer to save their home. NACA NEVER threatened the servicer with a forensic loan audit or protest as they say they will do in their hype meetings. No modification! The reason NACA fails is the servicer is not your note holder/owner with the authority to LEGALLY change the terms of the loan! They are only a debt collector folks! Look up "PRETENDER LENDER". They can not legally modify jack! They lie to you re: modification and then collect from the govt. for simply TRYING! Then gear you towards foreclosure to make cash off you! They make more money foreclosing because your loan is backed by insurance they collect on in foreclosure! Worse yet, your loan may be sold off on wall street into a pool of other notes(SPV)! Them, investors from all over the globe buy interests to that pool. There may no longer be a note holder! The trust may also be no longer! Paid off and non existent! Sometimes, your note can be copied off 30 times for ex They destroy the original note to do this crime! Then they collect on the insurance for all 30 notes in foreclosure! They can make millions off one foreclosure. The debt of fraud is MIND blowing! Think RICO! Think Wall Street white collar crime! 1930's again! See the documentary called, "Plunder"...get thru Netflix I believe. Look up mortgage servicing fraud on youtube! There is a Facebook site, "Homeowners Against Mortgage Servicing Fraud" for chat.
Go to Neil Garfield's living lies blog for info on securitization of these loan notes. Study this an fight back. Some folks are fighting as Pro Se Litigants when they can not afford to fight these creeps. Look that up too. For those in Bankruptcy...find a bankruptcy attorney educated in loan securitization willing to MAKE these bums produce the original loan note IOU you signed at closing before a Federal Bankruptcy Judge. Research on youtube and Google, "Produce the Note". MSFRAUD.ORG is a good site. Mike Dillon's site is a great resource for those fighting Select Portfolio Servicing, but has other useful info. Garfield has a list of Attorney's who work in some states. Problem is can you afford an atty who will not work on a percentage basis? Many do not! In some states, sadly the Attorney's are more interested in siding with the money trail...the servicer's. Politicians...forget about it! Follow the money trail! You must join Garfield's site to access his attorney list. He has videos on youtube too...kinda boring as he is a brilliant lawyer & the info. can get deep! Stay with it! Look up bifurcation of the note form the deed of trust. God be with you all.
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