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SPS is a mortgage servicer, which means we manage your account on behalf of the note holder. FrequentlyAskedQuestions - Select Portfolio Servicing Select Portfolio Servicing ? StaticDetails ? Help Select Portfolio Servicing ? StaticDetails ? Help
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The ?Pooling and Servicing Agreement? is the legal document that contains the responsibilities and rights of the servicer, the trustee, and others over a pool of mortgage loans.
When rates rise, there are fewer people who benefit from a new mortgage. Lenders and servicers adjust. Servicers looking to raise cash may make part or all of their portfolio available for sale to other servicers. Interested servicers may see this as an opportunity to grow their portfolio. Mortgage Servicing Transferred? Here's What You Should Know rocketmortgage.com ? learn ? mortgage-ser... rocketmortgage.com ? learn ? mortgage-ser...
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.