Select Portfolio Servicing

What Select Portfolio Servicing does

Select Portfolio Servicing, Inc. (DBA "SPS"), founded in 1989 and headquartered in Salt Lake City, Utah, is a privately held residential mortgage servicer. The company does not originate or own loans; instead it acquires mortgage servicing rights through transfers from other servicers, lenders, and investors, and then manages the full lifecycle of single-family residential mortgage accounts on their behalf — collecting payments, administering escrow accounts for taxes and insurance, issuing monthly and year-end (1098) statements, and coordinating loss mitigation. SPS is positioned as a special/high-touch servicer, with a pronounced focus on home retention and default management for delinquent and at-risk borrowers. It operates entirely through digital and remote channels (web portal, the "My SPS" iOS/Android app, phone, mail, and fax) with no physical branch network, and is licensed under NMLS ID 3114.

The product surface centers on a customer-facing servicing platform — an online customer dashboard and mobile app supporting payments, statement access, escrow management, and secure document upload — paired with a suite of loss mitigation programs: loan modification, payment deferral, repayment plans, short sales (with relocation assistance of up to $10,000), and deed-in-lieu of foreclosure. The company also manages REO property disposition for investors following foreclosure (operating spsreo.com) and provides disaster-assistance support. The technology stack is operational rather than differentiated: automated payment processing, document management, escrow analysis, and multi-channel customer communications.

SPS's revenue model is managed-services based: it earns servicing fees from the lenders and investors that own the underlying loans, typically calculated as a percentage of outstanding loan balances or a per-loan monthly fee, rather than charging borrowers for core servicing. Ancillary transaction fees are charged directly to borrowers for certain optional payment methods (up to $5 per one-time online or automated phone payment, up to $15 for representative-assisted phone payments), while recurring ACH autopay is free. Go-to-market is fundamentally B2B2C: SPS wins servicing mandates and portfolio transfers from institutional note-holders (the buyer), then services the assigned consumer borrowers (the end user) who do not choose their servicer. A representative named relationship is Redwood Trust, for whose Aspire non-QM securitization platform SPS acts as servicer.

Name

Select Portfolio Servicing

Legal name

Select Portfolio Servicing, Inc.

Website

https://spservicing.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Select Portfolio Servicing (SPS) is a privately held U.S. residential mortgage servicer that manages single-family loan accounts—payments, escrow, and loss mitigation—on behalf of lenders and investors, specializing in default servicing and home-retention programs for at-risk borrowers.

Ownership category

akta.pro rank

Product category

Mortgage Servicing

NAICS

Nondepository Credit Intermediation (5222)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Mortgage Loan Sales & Aggregation (Correspondent/Conduit Aggregators) (FSALAFAD)

akta.pro secondary industry

Mortgage Point-of-Sale (POS) & Borrower Intake Portals (FSALALAD)

Keywords

• Mortgage loan servicing
• Residential mortgage services
• Loss mitigation services
• Home retention programs
• Escrow account management

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Mortgage Servicing Fees: SPS earns servicing fees from lenders and investors for managing mortgage accounts on their behalf. These fees are typically based on a percentage of the outstanding loan balance or a per-loan monthly fee. The company does not own the loans it services.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Select Portfolio Servicing (SPS) is a residential mortgage servicer that manages single-family residential mortgage loans on behalf of lenders and investors (note holders). The company collects monthly payments, manages escrow accounts for property taxes and insurance, processes loan modifications, and administers loss mitigation programs including payment deferrals, short sales, deed-in-lieu of foreclosure, and home retention assistance. SPS does not own the loans it services and does not originate mortgages.

Product overview

Select Portfolio Servicing (SPS) is a mortgage servicer offering a unified platform for residential mortgage account management. The core offering consists of a customer-facing web portal and mobile application (My SPS app for iOS and Android) that enables borrowers to make payments, view statements, manage escrow accounts, and upload documents. SPS provides loss mitigation services including loan modification, payment deferral, repayment plans, short sales, and deed-in-lieu of foreclosure to help borrowers avoid foreclosure. Additional services include automatic payment scheduling, how-to video tutorials, mortgage insurance management, and hardship assistance programs. The company operates primarily through digital channels without branch offices.

Differentiator

Problem solved

Functional benefit

Products and services

• My SPS Mobile App Native mobile application available on iOS and Android that allows residential mortgage borrowers to manage their mortgage accounts, make payments, view statements, and access customer support from mobile devices.
• Online Customer Dashboard Web-based customer portal enabling residential mortgage borrowers to manage their accounts, process payments, submit documents, access statements, and submit assistance requests online.
• Home Retention and Loss Mitigation Programs Assistance programs for residential mortgage borrowers facing financial hardship, including loan modification (modifying terms, rate, or principal), payment deferral (adding past due amounts to maturity as non-interest bearing balloon), repayment plans, short sales (with up to $10,000 relocation assistance upon completion), and deed-in-lieu of foreclosure. Decisions typically issued within 30 days of application.
• Escrow Management Services Management of escrow accounts for residential mortgage borrowers, including payment of property taxes and hazard/flood insurance on behalf of borrowers, annual escrow analysis statements, shortage management, and cushion calculations.
• Automatic Payment Program (ACH) Free recurring payment program allowing residential mortgage borrowers to set up automatic monthly deductions of mortgage payments from a checking account on a selected day of each month.

Quantifiable outcome

• Relocation assistance of up to $10,000 for completed short sales
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Mr. Cooper: The largest U.S. mortgage servicer by portfolio size, providing direct end-to-end servicing and loss mitigation comparable to SPS, with significant subservicing and special-servicing mandates.
• LoanCare: A major third-party residential mortgage subservicer with a comparable focus on default servicing, loss mitigation, and large-scale borrower account management.
• Dovenmuehle Mortgage: Independent residential mortgage subservicer specializing in delinquent loan servicing and loss mitigation, with a similar focus on investor portfolios and default management.
• Ocwen Financial: Specialty residential mortgage servicer with a national servicing platform and heavy emphasis on loss mitigation and troubled-loan resolution, closely mirroring SPS's core competency.
• PHH Mortgage: Subservicer operating as part of the Ocwen family, providing residential mortgage servicing, default management, and MSR subservicing for institutional investors.
• Cenlar FSB: Federally chartered wholesale subservicer handling large residential mortgage portfolios for banks and investors, directly comparable in scale and service mix to SPS.
• Specialized Loan Servicing (SLS): Residential mortgage subservicer focused on non-performing and reperforming loans, with a loss-mitigation toolkit that closely overlaps with SPS's home-retention programs.
• NewRez (Rithm Capital): National mortgage servicer and originator (formerly Caliber Home Loans) that services MSR portfolios and competes in the same investor-servicing market as SPS.
• ServiceMac: Residential mortgage subservicer providing loan servicing, escrow, and default management to investors, operating at a comparable size and scope to SPS.

Broad incumbents

• Rocket Mortgage: Top-five U.S. mortgage servicer as part of Rocket Companies; competes for MSR portfolios and offers similar borrower-facing servicing capabilities at much greater scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/select_portfolio_servicing

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Select Portfolio Servicing