Select Portfolio Servicing (SPS) Foreclosure Defense in New Jersey

Private trust loans have their own rules

A large share of the loans SPS services are non-agency loans, meaning they are not owned by Fannie Mae or Freddie Mac and are not government-insured. For those loans, the modification options come from the trust's governing documents and the investor's guidelines, not from a published national program. A complete application with a clear hardship explanation is what starts the review and the federal dual tracking protections.

When the plaintiff is a trustee suing on behalf of a trust, it must show that it held the note or a valid assignment before the complaint was filed. Loans in these trusts have often been assigned and transferred more than once, so David reviews the note, each assignment, and the payment history from every prior servicer.

How David handles a SPS foreclosure

Every SPS case starts the same way: a complete review of your loan history, every notice you received, and the servicing file we request under federal rules. That review often turns up misapplied payments, fee errors, or a defective Notice of Intention to Foreclose, and each one is leverage.

From there David opens the loss mitigation process with a complete application, requests the court's Foreclosure Mediation Program if you are an owner-occupant within 60 days of service, and files the answer and any adjournments so the sheriff's sale clock stops running while SPS reviews your options. If SPS violates servicing rules during that review, David raises it with the court.

Your rights with any mortgage servicer

Federal servicing rules under RESPA (12 C.F.R. Part 1024) apply to every servicer named on this site:

• A servicer generally cannot make the first foreclosure filing until you are more than 120 days delinquent.
• It must acknowledge a loss mitigation application within 5 business days and tell you what is missing.
• It may not move for judgment or conduct a sale while a complete application received more than 37 days before the sale is under review ("dual tracking").
• You can send a written Notice of Error or Request for Information and the servicer must respond, generally within 30 business days.
• In New Jersey, the Fair Foreclosure Act adds a 30-day Notice of Intention to Foreclose before suit and a right to cure up to final judgment.