Specialized Loan Servicing LLC

2019-12-06

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-12-04

Wesley Chapel, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I have a loan with Specialized Loan Services and I have been requesting to get the Private Mortgage Insurance off of my loan for more than 8 months. After about 5 months, they finally had an agent call me for a valuation on my property and my house is unique. I live on a ski lake where every home on my lake is listing and selling for atleast $ 500k. The agent that SLS sent out came up with a valuation of $ XXXX and did not compare my home to any homes that have sold on a ski lake in the area. Now I am disputing the value and have been put through the ringer again. I wrote a letter to dispute the valution that was done and emailed it to them on XX/XX/XXXX. They said they never received it, so I sent it back on XX/XX/21 157 times with confirmation on each email that they received it. YES, 157 times!! The PMI is costing me more than {$240.00} per month and it is just me throwing money away. The managers never call back when they say they are going to call back and I am sick of dealing with this. I own 10 rental properties and 3 of them have loans on them where I had the PMI removed after a certain amount of time, but I have never had to deal with anything like this before.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-12-02

TX

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-30

Los Angeles, CA

Took or threatened to take negative or legal action

Debt collection: Mortgage debt

Threatened to sue you for very old debt
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-30

Cutler Bay, FL

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: In progress

Timely Response

2019-11-30

Glendale, CO

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: In progress

Timely Response

2019-11-27

Miami, FL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: In progress

Timely Response

2019-11-27

Oakwood, VA

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-26

NC

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Complaint: XXXX XXXX XXXX sold my home equity loan to Specialized Loan Servicing, LLC. in XX/XX/2019. My payments are scheduled and paid online thru XXXX XXXX XXXX XXXX XXXX NC from my checking account. The payment for XX/XX/XXXX from my account at XXXX XXXX went thru successfully. My payment for XXXX was mailed back to XXXX XXXX, reporting the address was incomplete, even though the payment for the previous month went thru fine. The person I talked to indicated that the ZIP+4 was required and that is why the payment bounced. The address they gave me in their letter of XX/XX/XXXX indicated only the ZIP code. Late charges and other fees showed up on XX/XX/XXXX, and the loan was reported as over 30 days past due and the foreclosure process was started. Specialized Loan Servicing, in their letter of XX/XX/XXXX recommended that I find more affordable housing. When I called them on XX/XX/XXXX, I was advised that the fees to stop foreclosure were in excess of {$500.00}. They required a immediate debit card payment to stop foreclosure, but they said my debit card didn't work. I know my debit works, as I have used it since then. I gave them my checking account bank routing number and the checking account number. The fee had risen to over {$1100.00} yesterday. This feels like some sort of SCAM and I am afraid they have run this SCAM on enough people to have it down to an art form. The only way I know to escape is withdraw some of my retirement fund and pay it off. But they will probably XXXX up the cost of closing out the loan if I do that.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-25

Wesley Chapel, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: This is a follow up to Complaint XXXX. I contacted the company today and discovered that they did not credit me with my XX/XX/2019 on both mortgages. We were hacked before XXXX, it looked like the usps got mixed up or something, but when I talked with them today, they tried to say it was XXXX and XXXX XXXX but finally, we figured out it was XXXX. After the first rep, I checked my bank account and both payments were sent to SLS electronically {$1200.00} on the first mortgage and {$280.00} on the second sent XX/XX/2019 and they processed it XX/XX/XXXX. They do not show they received it, so I emailed and faxed them a copy of the bank statement after talking with their second rep. So from XX/XX/2019 they have been reporting us late on our credit reports and charging extra and since the above complaint we received a notice of default and intent to foreclose. I also sent them a copy of the law that states that the postal stamp is considered the date received, not when they process it. Thought you would need the additional information. Could not download bank statement confirming because it is in pdf format, but can fax to you if you send me a fax or email, if you would like it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-25

Jackson, MI

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: In progress

Timely Response

2019-11-25

Highland, NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: In progress

Timely Response

2019-11-25

Shawnee, OK

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-23

Sacramento, CA

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Complaint: they have locked me out of computer access and said I have not paid my bills. they still have not posted any payments to my account. I am trying to refinance my house and the equity line of credit in to one and they will not give me payoff and has caused be to pay for a extension for move time. I have one day left one my extension before I have to pay for another extension. the bank has asked for a pay off 7 time already since the XXXX of XXXX. they are charging me {$25.00} for the pay off. Is there a way I can charge them for my extension fees and all the stress they are putting me through? They have been nothing but trouble, to me since they took over me equity line of credit.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-22

Middletown, DE

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I sold my home in XX/XX/2019 and the mortgage was paid off. I have yet to receive a refund for the additional amount in escrow. I have made phone calls, spoken to several managers, sent emails to the servicing company executives ( XXXX XXXX and others ). Initially, I was advised I needed to wait for 30-days to see if I receive the check. After the 30-day mark I called again and was told a stop-payment would be placed on the check and check reissued I should receive it 5-7 business days. I waited and no check after about 10-days I called again and the associate apologized and said they would escalate and expedite the replacement check I would receive it in 5-days. After a week I call back and they tell me no expedited check was issued but the replacement check was requested and it could take up to 30-days to have it reissued. I call back a week later to see if they could provide me with the details of the check that was sent so I could verify the check was en route. I was told they would request and have the escalation department. I explained I was a XXXX and it needed to be after XXXX EST. Of course they ignore that request and call me in the middle of the day so I am unable to speak to them. I call back again that afternoon speak to a supervisor he tells me would have escalation note the account. This goes round and round week after week until a few weeks ago when I am told the check can't be sent because the original check was cashed. I asked by who and when and of course they don't have that information so it would need to be researched. I explain in my opinion I am not aware of any check being cashed and it may have been cashed fraudulanty but I have yet to recieve my escrow payment. This is long but just a summary of the cireles SLS has been putting me through over the last 4-months. I would like to request the help of the CFPB because every time I call I get a different story and a different excuse on why my escrow check hasn't been sent.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-22

VT

Struggling to pay mortgage

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: In progress

Timely Response

2019-11-22

Foothill Ranch, CA

Trouble during payment process

Mortgage: Other type of mortgage

Complaint: I would like to bring your attention to issues I'm having with Specialized Loan Servicing who is servicing my loan that includes incorrect mortgage late and some late charges that they are not able to verify. I have been trying since XX/XX/2019 and ever since they took over the servicing of my loan to resolve these issues with them but constantly getting a run around and promises to return my calls that never happened. The servicing of my loan was transferred from XXXX XXXX XXXX to Specialized Loan Servicing on XX/XX/2019 and I was never notified either from XXXX XXXX XXXX or from Specialized Loan Servicing. My loan is a 2nd mortgage and my payment is due on the XXXX of every month. I made my XXXX payment to XXXX XXXX XXXX but money was never taken out of my account and when I called XXXX XXXX XXXX I was told that servicing of my loan has been transferred to Specialized Loan servicing as of XX/XX/2019 and I was given the phone number to contact the new servicing company. I called Specialized Loan servicing and was told that they have just received my loan and it is due for XX/XX/2019 payment. I then immediately made a payment over the phone with the representative on XX/XX/2019. Please note that my payment is not due on the XXXX of every month and instead it is due on the XXXX of every month with a 10 day grace period. So the payment I made over the phone on XX/XX/2019 which was for XX/XX/2019 payment and still under 30 days. However as per their verification of mortgage history that I printed from my on line portal clearly shows that I have 1 late mortgage payment within 31-60 days and that needs to be corrected. Also there are some past due charges in the amount of {$190.00} showing on my account. I was told that these are the late charges from my previous lender that they received. I called XXXX XXXX XXXX and was told that since they no longer have my account they will not be able to provide any information. Specialized Loan Servicing is not able to verify this amount and I requested from them to remove these charges. Specialized loan Servicing is not reporting my mortgage with any of the credit agencies and therefore I have to rely on their mortgage history which is incorrectly showing a 30 day mortgage late and that have preventing me from refinancing my home loan.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-21

Spring Hill, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I have a previous complaint about this company for the reason that they would not give me a payout amount. After lodging the complaint I called back and notified them that I had lodged a complaint with you against them. At that time they became very helpful and gave me a payout. Unfortunately they added an extra {$170.00} that they describe as interest. They are accruing the interest to XXXX. I made a wire transfer on XXXX, and payed the loan in full. The company specialize loan servicing just got the loan on XXXX. They have only had the loan 3 weeks. The interest per month is about {$45.00}. How did they get to the dollar amount of {$170.00}. I should not have damages or penalties due to them taking over my mortgage. Please help. Thankyou XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-21

Knoxville, TN

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: This mortgage has been sold by the mortgage companies several times over the 15 years I have had it. Most recently it has been sold to Specialized Loan Servicing. On the mortgage statement there is a charge of {$460.00} for " Past Due Amounts. '' I do not know what this is for. I have called SLS several times regarding these charges. I have been told various things ( " We will investigate and get back to you. '' They did not. " You need to write a letter because we can not address this by phone. '' ) After getting nowhere after several calls, I wrote a complaint to them. They responded in a letter dated XX/XX/XXXX, that the fees are legitimate. However, they can not tell me what the charges are for. In the letter SLS sent me they said, " You have a right to request the documents relied on by SLS in reaching the determinations communicated in this letter by contacting us at the number below but please note that SLS has already enclosed them for your reference. '' However, the document they included only showed my monthly payments from XX/XX/XXXX through XX/XX/XXXX, and nowhere in that document did it detail the origin or purpose of the {$460.00} in Past Due Amounts. I am requesting that SLS remove this charge from the mortgage because I am attempting to refinance this mortgage but I can not while these charges remain pending.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Untimely Response

2019-11-20

Sacramento, CA

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Complaint: On XX/XX/XXXX I took out a home equity line of credit for {$46000.00} from THE XXXX XXXX XXXX XXXX. Within 11 months on XX/XX/XXXX, XXXX XXXX XXXX XXXX filed bankruptcy. From the start of my loan, my loan documents and payment coupons were sporadic and unattainable. I made numerous requests and was always told they would get back to me. Because of the financial meltdown and the bankruptcy, I actually went approximately 6 years without any correspondence from XXXX or anyone else. I was unable to make any payments at that time simply because I was never told how much or where to send the payment. Around mid XX/XX/XXXX, I was contacted by a company called Specialized Loan Servicing regarding the loan and was provided with a structured payment agreement. The verbal agreement between us allowed me to make minimum payment and in return they would not foreclose. The stated intent was to help get me get back on my feet financially so that I could start making normal payments. We continued to amend the payments as I continued to improve my income. I have made every agreed upon payment and when I finally got to a point that I could make the normal payment, they surprised me with a bill for the entire delinquent balance of {$24000.00} to bring the loan current. When I called to inquire about the bill they said there was nothing they could do. I have complied with all of the agreed upon payments per their requirements. On XX/XX/XXXX I agreed to a final payment structured payment agreement that stated : " FOR THE NEXT 6 MONTHLY PAYMENTS ( TEMPORARY PAYMENTS ) BEGINNING ON XX/XX/XXXX '' Payment : {$150.00} Monthly Payment Date : XXXX day of month 1st Plan Payment Due Date : XX/XX/XXXX Term : 6 Months Further stating : " At the end of the above 6 month period, you agree that your payment obligations will continue to be due and owing as stated in your Note., Security Instrument and other loan documents. Your payment of any of the Temporary Payments detailed above is your consent to the terms of this Agreement ''. This letter regarding the payment agreement is attached and my conversation with XXXX XXXX detailed my final modified agreement before returning to the original payment agreement as stated in the Note, Security Instrument and other loan documents. That is exactly what we talked about and he specifically said my payments would be reset upon completion of the six month agreement. I have now realized that the unfair and deceptive language in the Limited Term Payment Agreement was actually structured to trick me into making extra payments. I asked about all of the payments I have made continuously after they finally contacted me and was told they did not count as an agreed payment schedule per the note. 1. I have paid the agreed upon payments early each and every month and did so up until the end of the agreement in question which was completed XX/XX/XXXX. 2. The following payment on XX/XX/XXXX would convert to the payment " as stated in the Note ''. 3. OnXX/XX/XXXX I received a letter from Specialized Loan Servicing demanding an immediate payment of {$24000.00} by XX/XX/XXXX 4. On XX/XX/XXXX I called Specialized and wanted to know why they were not honoring their Limited Term Payment Agreement. I asked for the amount of the new monthly payment and was told by XXXX, the customer rep, that was not an option. XXXX then tried to explain to me and a friend, that is familiar with mortgage agreements, that the statement in the Agreement really didn't mean what it stated. When I protested the answer I was turned over to supervisor named XXXX, ( who refused to give his last name ), that told us that they were not interested in our interpretation of the unfair and deceptive language in the letter. As we pressed the verbiage in the letter, XXXX simply said we would see their decision in " what happens next '' .. 5. On XXXX XXXX, I received a notice of intent to foreclose because of payments continually missed from XX/XX/XXXX. Failure to bring the total amount due ( XXXX ) by XX/XX/XXXX may result in acceleration of the entire balance outstanding. Specialized Loan Services has used unfair and deceptive language in the Limited Term Payment Agreement to persuade me to continue making payments knowing full well that I was being set up for a foreclosure action. The final conversation and promise made to me was nothing more than a trick to set me up for failure. When I made all of the six payments and then asked for the new monthly payment amount they used the unfair and deceptive clause in the Limited Term Payment Agreement to accomplish the true goal of forcing me to fail in protecting my home. Specialized Loan Servicing has violated nearly every lender protection law in the US including RESPA, Loan Collection Service rules, Fair Debt Collection Practices and State foreclosure laws in CA. by : 1, Not honoring the attached Specialized Loan Servicing Limited Term Payment Agreement that was explained to me by XXXX XXXX. I relied entirely on the verbal agreement I made with them when they new they were setting me up to fail. 2. Not providing me with loan statements each and every time we made a payment agreement. I have never received loan history report when requested at every agreement we have made over the last seven years. I have never received a tax statement declaring the interest payments made over the last 7 years. If the payments weren't interest, what were they? If the funds were not loan related but servicing profit, then Specialized is guilty of even more deception. Shouldn't this be disclosed as a RESPA fee if it is not an interest item. Lenders include servicing fees in the interest charged and then retain the excess interest charge as a servicing fee. Am I paying this fee twice if the servicing agent is charging a secondary fee for service. The demand for the balance shows deferred interest which would include servicer fees. Isn't it lender responsibility to pay the servicer? The servicer demand to payment shows deferred interest. 3. The payments certainly can't be late charges if I have honored the agreed upon modified payment amount. If that is the case, am I paying late fees twice. 4. By not providing me with a statement each and every time the interest rate changed on the variable rate loan. 5. By operating in fashion of a Predatory Lender using unfair and deceptive tactics by knowing full well that I would not be able to pay the amount due in the letter XX/XX/XXXX when the Limited Term Payment Agreement was agreed upon. I have provided them with financials at each and every agreement we have made. They know I can not afford to pay the {$24000.00} demanded by them. 6. I have honored every commitment to the first mortgage and the second mortgage since the financial meltdown. My income has dropped considerably but my obligations have been met as per the lenders agreements while in loan modifications. 7. Specialized Loan Servicing has accepted every modified payment I have made to them from our first agreement to the final agreement XX/XX/XXXX Complaints against Specialized Loan Servicing LLC SLS, According to XXXX XXXX XXXX XXXX XXXX XXXX lists 359 complaints closed against SLS in the past three years, with 126 in the past 12 months. Only 38 of these complaints have been resolved to the satisfaction of the complainant. Many of the complainants indicate that their mortgages were sold without their consent, and that SLS institutes new methods of distributing mortgage payments that result in increased interest rates, missed payments, late fees, and reports of delinquencies on their credit reports. The 63 negative reviews allege openly abusive customer service and fraudulent business practices. XXXX lists at least 50 cases of civil litigation naming SLS as a defendant. If a payment modification is made, accepted and honored, then how can I be considered delinquent? I am not asking for anything but for Specialized Loan Servicing to honor the Limited Term Payment Agreement of XX/XX/XXXX. I am prepared to make the normal payment as per the original term of the note. I am also asking for an as agreed payment history since I have made payments for the last 7 years per my agreements with them. There is no justification for Specialized Loan Servicing 's explanation for default. All terms and conditions agreed upon over the last 7 years have been met, otherwise they would have foreclosed years ago. My goal is to save my home. I can not afford to start over at XXXXyears old. XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-20

Bedford, TX

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I have a non escrow mortgage since XX/XX/XXXX. I pay my insurance and property taxes when due. I suffered unemployment hardship. My last property tax payment was XX/XX/XXXX. In XX/XX/XXXX, SLS mortgage service provider made a payment on my behalf claiming serious delinquency. They have attempted to put me in Forced Escrow to continue to claim I am not curent on my mortgage. I have tried at least a dozen times to remedy this, which many claimed at SLS was feasible as I rejected their offer to voluntarily submit to an escrow loan. Today, XX/XX/XXXX, I payed {$2200.00} as their statement claimed would bring my mortgage completely current. I was forced to do so to start gaining the legal leverage I need to sue them for the return of my forced escrow. My mortgage note does not appear to me to allow forced escrow. I plan to pay my property taxes for XXXX due XX/XX/XXXX directly to ensure their forced escrow was a malpractice on their servicing. I owe them $ XXXX and I'm sure they would like to foreclose on a $ XXXX home. I am arguing that this is completely improper abuse of their SLS servicing leverage and should therefore be fined heavily if possible.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-20

Wesley Chapel, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: We have been slow pay on our mortgage due to medical problems and expenses ( my husband is a veteran ), but all payments were paid within the month due with usps receipts to verify. The mortgage company says we are 45 days delinquent. We owed XX/XX/XXXX and I paid it today, but they show we owe XX/XX/XXXX, even though their website shows it paid. Also, they did not apply the payments as directed & I have copies of my records for that. Below are payments : XX/XX/XXXX : XX/XX/XXXX, XXXX XXXX XXXX XXXX transferred to Specialized Loan Services, LLC I called on XX/XX/XXXX to get the new loan numbers so there would be no mixup. DUE DATE MAILED USPS # AMOUNT PAID on Principal AMOUNT SLS APPLIED XX/XX/XXXX XX/XX/XXXX {$1100.00} {$1100.00} # XXXX Late Fee paid {$5.00} XX/XX/XXXX XX/XX/XXXX {$1100.00} {$1100.00} # XXXX Late Fee Paid {$5.00} XX/XX/XXXX XX/XX/XXXX {$1200.00} {$1100.00} XXXX Transaction # XXXX Late Fee paid {$1.00} XX/XX/XXXX XX/XX/XXXX {$1200.00} {$1200.00} Label # XXXX Late fee paid {$1.00} XX/XX/XXXX XX/XX/XXXX {$1200.00} {$1200.00} # XXXX Late fee paid : {$5.00} XX/XX/XXXX XX/XX/XXXX {$1200.00} {$1200.00} # XXXXLate Fee Paid : {$1.00} XX/XX/XXXX XX/XX/XXXX {$1200.00} {$1200.00} XXXX Late Fee Paid : XXXX XX/XX/XXXX XX/XX/XXXX {$1200.00} {$1200.00} # XXXX Late Fee Paid : {$1.00} XX/XX/XXXX XX/XX/XXXX {$1200.00} {$1200.00} # XXXX Late Fee Paid : {$1.00} XX/XX/XXXX XX/XX/XXXX {$1200.00} {$1200.00} # XXXX Late Fee Paid : {$1.00} XX/XX/XXXX XX/XX/XXXX {$1200.00} Paid online Confirmation # XXXX Also, they show us late 9 times on our credit report and refuse to fix it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-20

Sloatsburg, NY

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: In progress

Timely Response

2019-11-19

Branchburg, NJ

Trouble during payment process

Mortgage: Home equity loan or line of credit (HELOC)

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-11-19

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response