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Question DetailsAsked on 9/27/2013

SELECT PORTFOLIO SERVICING INC GOOD OR BAD

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Apparently also doing business as Fairbanks Capital.

Just based on a quick web scan, I see 221 complaints on the Ripoff Report and 117 with Utah BBB - which is a giant number for those sites, apparently have a bankruptcy pending or in progress, have a LOT of complaints about servicing problems, claimed they are scamming people to let them handle their loans then foreclose on them, houses being foreclosed that were current on payments, several referenced lawsuits against them for fraud, references to a federal investigation against them for mortgage fraud, a class action suit starting up against them, etc.

These are not the type of things you see from well-known reputable companies - maybe a couple of vociferous complaints, not hundreds. Personally, seeing this sort of thing on a company search, I would run away and hide FAST. I would stay with a brand-name major bank - at least that way if they engage in fraud or deceptive practices, they are big enough there is certain to be federal action and recourse when they get caught, like the recent billion $ + actions against Countrywide/Bof A, Chase, etc.

Answered 3 years ago by LCD




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