Avoid Foreclosure. Work With Professionals Who Understand. Learn How.
Select Portfolio Servicing Loan Modification
Need Help With Your Select Portfolio Servicing (SPS) Loan Modification? Get More Info Here.
Select Portfolio Servicing Short Sale
Need Help With Your Select Portfolio Servicing (SPS) Short Sale? Get More Info Here.
Select Portfolio Servicing (SPS) Loan Modification Package, Application and Forms
What is a SPS Mortgage Loan Modification Package?
Select Portfolio Servicing, Inc. (SPS) requires a SPS Loan Modification Package known as the RMA or Request for Mortgage Assistance which also includes their own SPS Hardship Affidavit. This paperwork changes all the time. In most cases when applying you have to use the latest paperwork; Always check with a someone who deals with this regularly. The package and forms we last found was put up on the Absolute Consultant Group(ACG) website for educational purposes. Here at Absolute Consultant Group we help homeowners with their Select Portfolio Servicing (SPS) Mortgage Loan Modification process and we can help you too.
There are 9 sections to the standard SPS Loan Modification Package and totaling about 7 pages.
Need Assistance With A SPS Morgage?
Need Assistance With A SPS Morgage?
SPS (RMA) Request for Mortgage Assistance Programs Package Breakdown:
Mortgage Relief Application Check List
- Section 1 RMA – Borrower Information – This section basically requires the Select Portfolio Servicing (SPS) customer to put the borrower contact information, how many people living in the home, if the client has filed bankruptcy, and some basic information about themselves. Additionally they like to know if any other mortgage has received government assistance (HAMP).
- Section 2 SPS Request For Mortgage Assistance (RMA) Form – Hardship Affidavit – This is the section where you give the bank information about what caused you to fall behind and if your hardship has been resolved.
- Section 3 Additional Property Information – In this section the bank asks to know if this is your primary residence, if you are planning to keep it or if it is up for sale, and more information about the property itself.
- Section 4 Mortgage Borrower Financial Information Breakdown – In this section SPS asks for your monthly budget. This includes knowing your gross/net income. In this section include if there are any non-borrower contributors to be considered as part of the budget. Document assets here as well. Bank checking accounts and anything else you have of value. This is the section where you list your monthly expenses covering everything from food to utilities to child costs. SPS lists the required documentation for all income types.
- Section 5 SPS Package – Other Properties Owned – This is where you need to list the other properties you own and the details corresponding to each including the costs, homeowners association dues, taxes, and insurance. It also asks if it is a vacant, second or seasonal home, or if it’s rented.
- Section 6 Other Property Type Requiring Assistance – This section is only filled out if you are looking for assistance on a property that is not your primary residence. They get the same basic information they requested in section 3 but they want it more spelled out here outlining the costs associated with the property. HAMP Rental Property Certification is also required though the HAMP program is no longer around.
- Section 7 Dodd-Frank Certification – This is a certification that states you were not previously convicted of any financial fraud along with other disclaimers. Make sure you read it thoroughly before acknowledging it.
- Section 8 Government Monitoring – This section basically wants to know your herritage (Race) though they cannot use this information to discriminate you.
- Section 9 Borrower Acknowledgment and Agreement – read through these statements as Select Portfolio Servicing and their investor will require you to agree to them. Make sure you sign and date the document.
We’ve helped homeowners like you. Have any questions? Call 888-934-3444. No obligation, free consultation.
Understanding Your Select Portfolio Servicing (SPS) Loan Modification Status
As you can see the SPS Loan Modification Package is a lengthy document. Select Portfolio Servicing Mortgages don’t make it simple but that’s why ACG is here to offer you assistance with your application process to get mortgage relief from your home loan lender. SPS Mortgage servicing division has various locations, the company though is headquartered in Salt Lake City, Utah with an office in Jacksonville, FL.
SPS Short Sale Package Forms
In most cases Select Portfolio Servicing uses the same package for loan modifications as it does for a SPS Short Sale. Completing a short sale with a SPS Mortgage will require additional documentation such as the purchase agreement and settlement statement which lets Select Portfolio Servicing and the investor they represent know how much they will net from the offer being made.
Managing the short sale negotiations with SPS’s mortgage servicing department needs special skills that not all real estate professionals have. For over a decade we have specialized in this area and represent many of the largest brokers/agents in the business.
Call Us 888-934-3444 Today.
Select Portfolio Servicing Mortgage Help For Homeowners
SPS Mortgages offer many types of help to borrowers:
Select Portfolio Servicing Mortgage Loan Modification
SPS Short Sale
Select Portfolio Servicing Is Difficult. Don't Go It Alone. Professionals Standing By.
Disclaimer: Using The Wrong Form May Lead To A Denial[contact-form-7]
You May Also Like:
The post Select Portfolio Servicing (SPS) Application, Forms And Packages appeared first on Absolute Consultant Group.
This post first appeared on Short Sale Blog | Loan Modification | Mortgage | F, please read the originial post: here