ATTORNEY GENERAL BONTA SECURES $4.6 MILLION SETTLEMENT, CONSUMER RELIEF WITH MORTGAGE SERVICER, SELECT PORTFOLIO SERVICING, FOR VIOLATIONS OF FORECLOSURE PROTECTIONS DURING THE COVID-19 PANDEMIC

SACRAMENTO, Calif., June 5 -- The California Attorney General issued the following press release:

OAKLAND - California Attorney General Rob Bonta today announced a $4.6 million settlement with Select Portfolio Servicing (SPS), a large sub-prime mortgage servicer operating in California, resolving allegations that the company violated state and federal mortgage servicing and debt collection laws during the COVID-19 pandemic. Today's settlement includes enforcement of California's Homeowner Bill of Rights (HBOR), a set of laws that provide protections to homeowners who are facing foreclosure. Under the settlement, subject to court approval, SPS must pay $1.6 million in civil penalties and $3 million in consumer relief, and must implement cha...