Specialized Loan Servicing LLC

2016-09-19

Sand City, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2016-09-19

Rncho Domingz, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

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

Disputed: No Timely Response

2016-09-19

Burlingame, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: SLS Specialized Loan Servicing, Colorado, does not apply the principal payments I make towards principal but considers it a regular payment. Then they do n't withdraw my automatic monthly payment but move it to later months. That way the company benefits from the spread and I do n't pay down my mortgage. There is no response to emailing the company through their automatic system. It is unclear all the changes they make to my mortgage. This company misleads the consumer. This is not my first complaint to SLS.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-18

San Diego, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Several Months ago I filed for a home loan modification. The company SLS has our mortgage, they are somewhat new to us. I have taken the liberty multiple times of sending in every document they requested of us. I spoke to our representative XXXX, just before the XXXX XXXX holiday. XXXX assured me since I have submitted the same docs over and over they had everything they need to put our case under review. I have not worked since XX/XX/XXXX2016. I look in our mailbox today receiving a packet stating they could not review any of the modification options because we did not send in all of the documents they requested. What I found out is, if the documents are not sent in full each time they request a certain document ( s ), our documents are not saved in their system in a file assigned to us, and they are losing sensitive data with all of our personal information disclosed. I am out of options and tired of repeating my efforts for the fifth or sixth time I need someone to intervene!!! My name is XXXX XXXX our home address is XXXX XXXX XXXX XXXX, CA. XXXX. My mobile number is : XXXX I am caring for my dad who is a victim of elder abuse and going to work right now is not an option. Our household income is limited and I need help desperately. My husband is working XXXX jobs at time 7 days a week to sustain our home and we have a graduate XXXX. I am overwhelmed, heartbroken, and spent. The Company is Specialize Loan Servicing XXXX XXXX XXXX. XXXX XXXX XXXX XXXX CO XXXX XXXX # is XXXX XXXX XXXX Please help
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-17

MA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: XX/XX/2016 our home loan was sold to Specialized Loan Services, and in the 8 months they 've owned the loan SLS has twice claimed not to receive our monthly payment. They 've been difficult to work with when we attempt to resolve the matter. In our nearly 20 years of making monthly mortgage payments, by paper check and electronically, we 've never had one lost. Our credit rating is excellent. When SLS claimed our XX/XX/XXXX check had n't arrived in their XXXX processing center two weeks after we mailed it, we stopped payment on the check and paid to wire the funds. After several phone calls, they agreed to waive the late fee. Now the same thing has happened again. We mailed the XX/XX/XXXX check XX/XX/2016. This time, SLS acknowledged the barcode on their payment envelope was processed by the post office on XX/XX/2016, but insisted it had n't arrived at their processing center by XXXX. We wired the XX/XX/XXXX payment yesterday ; our credit union shows the funds have been delivered, but our account on the SLS site still shows the XX/XX/XXXX payment as unpaid. SLS admits pay envelopes are n't scanned into their processing center, so that there is no way for them to know whether a check that arrived in their mail room was lost on the way to Accounts Payable. Reaching a supervisor is made intentionally difficult, as they are generally not available in real time when the CSR ca n't solve a problem, and the supervisor call-back delay is claimed as 24 hours, but has been longer for us. Even when promise of a late-fee waiver is made by a supervisor, the company forbids confirming that promise by email or any other trackable means, and you have to follow up with them by phone repeatedly. In addition, the SLS website has very long load times, which may be intended to discourage customers from pursuing complaints. Given the poor service and lost checks, we now do n't know whether to trust SLS 's claim that increased escrow requirements are the actual reason for the increase to our monthly payment. As soon as our loan was sold to SLS, the monthly payment increased XXXX %, with " escrow deficit '' given as the reason. Our excellent credit ratings stem from years of paying bills on time. We have paid several different mortgage lenders by mail and electronically over the past 18 years, and have never had a problem with payments being received and acknowledged until SLS purchased our loan. SLS shows no accountability. We do not trust SLS with access to our bank account through Bill Pay. We therefore feel stuck waiting for SLS to receive every month, forcing us to wire the funds every couple of months and check the account online daily to ensure funds are received and recorded.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-16

Hillsdale, NJ

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My name is XXXX XXXX, I am an elderly woman, after my husband died 2 years ago, I appointed my son, XXXX XXXX, as my Power Of Attorney. My son has brought to my attention some very disturbing information about the mortgage my husband had with XXXX XXXX Bank. XXXX has worked very hard to get information regarding the loan from XXXX Bank, who claims they own the mortgage, but they have yet to answer our questions. Unfortunately, XXXX Bank claims that my son has to deal with SLS, even though it is XXXX that is suing me. This has all become very confusing, my son says he cant get the information I need to defend myself. XXXX and SLS are running him in circles. XXXX is asking for a " summary judgement '' against me, and we have n't even had our questions answered yet. SLS and XXXX are stone-walling us at every turn. I have applied for a loan modification through the XXXX program, but so far with no success, because XXXX and SLS are asking for my personal information, which I will not give out, until they provide me with proof that they in fact do own the loan! please help me, I do n't know what to do next. XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-16

Hialeah, FL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: We submitted a complete loan modification on behalf of our client to Specialized Loan Servicing ( SLS ) on XX/XX/2016 with a scheduled sale date of XX/XX/2016. However, on XX/XX/2016 the bank sent us a letter advising they were unable to review the package due to the upcoming sale. My client wants to save her home and in good faith has provided the complete package with ample notice to at least be reviewed and considered for a work out. It is not my client 's intention to delay the foreclosure but merely to find a solution to save her home. While I understand there is a 37 day rule if the bank truly wanted to help the borrower they had ample time to at least review what was submitted and determine if she qualified for any workout solution or offer any alternatives, yet they did n't nor have they provided a formal denial letter. We would like to have the sale postponed in order to give the lender time to review the financial package that was submitted.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-16

Bethel, WA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Untimely Response

2016-09-16

Liverpool, TX

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: SLS mortgage servicing company wrecked my credit, family livelihood and forced me from my dream home due to their unacceptable attention to detail and inability to process paperwork
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-15

Council, NC

Settlement process and costs

Mortgage: Home equity loan or line of credit

Complaint: There is a serious communication problem on understanding our request for answers. So in attempt for simple answers this is an easy YES OR NO selection to the following questions : DO YOU -- -- -SPECIALIZED LOAN SERVICING FOR BANK XXXX HAVE THE REAL ORIGINAL LOAN AGREEMENT ( NO COPY )? YES OR NO? IS THERE A LOCATION TO WHERE WE CAN GO TO SEE THE ORIGINAL LOAN AGREEMENT IN PERSON? YES OR NO? This is very simple to answer can anyone at Specialize Loan Servicing understand these requests? YES OR NO?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-09-15

Winton, CA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: In a nutshell : Laid off XXXX. Did a loan mod w/HARP on 1st mortgage 6 months later, did same thing w/2nd mortgage ( both thru XXXX ). Date of closing 2nd mod, informed loan was sold to another Loan Co. Had to start mod process over from scratch w/new Co. ( Specialized Loan Servicing ( SLS ). Did, w/no escrow/impound acct ( was n't an option ). Made all payments on 1st & 2nd over last 5-6 years, on time, in full, as always. Have stellar credit. Real estate market is finally stable " enough '' to do a refi combo laon w/3 % fixed rate for a XXXX yrs. Went thru XXXX ( A+ rated ). Everything moving along smoothly -- 1st was bought out from XXXX XXXX and sold BACK to former XXXX ( yippe ), so looking forward to having a single mortgage payment again, at good rate, pay home off before I 'm XXXX years old! Hit a huge snag ... .all created by a ridiculous human error on SLS 's part!!! Original loan mod had a " {$2700.00} DEFERRED PRINCIPAL '' payment to be paid when paid off or sold. Fine. I knew that when I signed it. XXXX gave me the option to pay the {$2700.00} off myself OR build it into my new refi combo loon. No thanks! Called SLS myself to pay the {$2700.00} over the phone out of my checking account AND to make sure they applied the amount directly to my " deferred principal '' and nothing else, because my regular monthly 2nd mortgage payment was due soon and that payment was being mailed in separately as usual. Couple weeks later, get my SLS statement and it shows my monthly payment made alright, but ... ... .also showed my {$2700.00} applied to my regular principal and therefore they threw a huge chunk of it out the window, as in INTEREST and did NOT pay my deferred interest off with it!! & gt ;. & lt ; The payment was made on XXXX/XXXX/XXXX and cleared my acct a day or two after. I 've been on the phone with SLS 's " Executive Services Dept. '' every single morning for 5 days now, to have THEM correct THEIR mistake. Apparently nobody over there can DO this. Every phone rep tells you they will " email '' somebody else to take care of it. Could take a few days. Could take 48 hours. Might not happen until XXXX. I 'll try to expedite this for you. I ca n't. We ca n't. They ca n't ( Grrr! ). I specifically called a human being at SLS and made this payment with SLS so that the XXXX dollars would pay off ONLY my deferred interest. Not! Needless to say, XXXX is also waiting for SLS to rectify the {$2700.00} " woops '' and apply it correctly so that my refi loan can CLOSE. So simple but yet SLS has made rocket science out of it. It took somebody hitting the wrong button to create the problem on SLS 's end -- -why ca n't someone just click the correct button and put my money back it was supposed to go in the first place??????????????? Frustrated beyond belief. Can not wait to be rid of this SLS 2nd mortgage loan and never ever ever ever ever have to deal with the monkeys that they all are. Unbelievable how UNHELPFUL they are. I should sue them and get restitution for all the additional days my refit is open and I will be charged extra interest ( $ $ $ ) for their stupidity. Off my soap box now. Feel better venting, even though I know absolutely nothing will become of this and no assistance in getting this resolved with result. But hey, scoured XXXX and stumbled upon tons and tons of SLS complaints, problems, rants ... ..obviously WE are all there and need SLS to cease their existence, once and for all. The End. Sincerely, a disgruntled XXXX XXXX. Homeowner who feels like I am being held captive by a loan company who has no idea that they are being PAID OFF. In full. Good bye. We are cutting our ties with your organization and can not wait until that moment arrives. Will be celebrating BIG TIME!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-15

CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I submitted a package for a loan modification but was told that I was not going to be reviewed for any options to avoid foreclosure. The lender stated they sent a letter explaining but I never received any letter and am unsure why they can not help me save my home.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-15

Seattle, WA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2016-09-14

Casa Blanca, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2016-09-14

Briarwood, NY

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2016-09-14

Brea, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2016-09-14

Portland, OR

Loan servicing, payments, escrow account

Mortgage: Other mortgage

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

Disputed: No Timely Response

2016-09-14

Douglas, MI

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I refinanced my home in XXXX XXXX, with my first mortgage payment due XXXX XXXX, XXXX. In XXXX I received notice that my mortgage was transferred to XXXX XXXX XXXX XXXX and would be serviced by Specialized Loan Servicing , LLC. I tried to make an account, but could n't, and as it was nearing the time I would need to make my first payment, I called to find out what was going on. The lady told me that since the effective transfer date was XXXX XXXX, the info was n't in their system yet and that they would mail me all of the info when it was in their system. I asked how what to do about my first payment, and she said that I could pay it once they had things set up, that there were no penalties of any sort for being late after being transferred, so not to worry. I waited and waited for the info packet to arrive, and finally on XXXX XXXX I gave up and called again. It turned out they had just put it in their system ( and I finally received the info in the mail a couple of days later ) so the lady was able to help me get my account set up. I immediately went ahead and paid my XXXX and XXXX payments. I noticed there was a " one-time payment fee '' of {$10.00} automatically added and thought that was steep, but it would n't let me set up auto-draft yet as I was " behind '' so I just paid it. The next time I went to make a payment, I was deciding between a one-time payment and auto-draft and noticed that there was no fee this time. When I looked at everything closer, that is when I discovered that the " one-time payment fee '' of {$10.00} was only for when you were paying XXXX15 days late. So even though I called well before my payment was due and was assured there would be no penalty ( as there was really no way for me to pay yet ), and I paid BEFORE they even sent me the info to allow me to set up my account ( as I had gotten impatient and called again ) THEY STILL CHARGED ME A LATE FEE. I emailed them about the matter and received no response. I forgot about the situation until recently receiving a notice that my loan is again being transferred. I once again emailed them about the situation, and once again received no response.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-14

South Florida, FL

Settlement process and costs

Mortgage: Other mortgage

Complaint: This is to inform you that Specialized Loan Services approved me for a loan modification, but after 60 days, they have not recorded the note or notified me of the loan modification being completed on their part. I have made my monthly payments on time, but instead they have send me monthly statements that show higher payments than we had agreed to, unclear charges and attorney fees that are not part or listed on modification agreement. attached you will find copies of statements and loan modification. thank you for your help.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-14

Colfax, IN

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: On XXXX XXXX, 2016, I received a phone call from SLS who is servicing my mortgage. They called to inform me that I had not made the XXXX payment. After consulting with my wife, we realized that we had not gone online to make the payment as we normally do. For the first time in 13 years, we missed it. So, I told them I wanted to get caught up and could give them payment information over the phone. She took it and then offered to set me up on EFT. I agreed and gave the corresponding account numbers. After I provided all the information, she told me the account would be up to date within 24-48 hrs and then on EFT going forward. On approx. XXXX XXXX, I received a notice from SLS that my mortgage was going into default and I called them immediately. I was then told that my account was not set up on EFT and they had mailed a notice to me in XXXX. I never received a notice in XXXX and assumed my account was functioning as we had set it up. First, I told them to take two payments and get my account up to date. They agreed to waive the late fees, but I was still not happy that they had removed my account from EFT after we had set it up. They told me there was n't enough time to get it set up for the XXXX payment, but that they sent me notification in regards to that payment. Again, I never received anything in the mail to this effect and was not happy they did n't bother to call. They called me in XXXX when it was late, why did they let it go for nearly two months and not call me again? Why did they rely on the mail when this is such a serious matter? The representative kept telling me they did their part by mailing the notice and I told them it was irrelevant because I never received it. I was also concerned they were going to ding my credit so I asked about that. They told me it would be reported so I requested to speak to a manager. As far as I 'm concerned it was their fault the payment was late and since I would expect to call when a payment is missing as they did in XXXX, they should have done it again in XXXX, especially after telling me I 'm set up on EFT. She said their was nothing they could do about it and it was not their fault. I take great care in watching my credit and this is completely unacceptable to me. I did nothing wrong and they have inconsistently applied their follow up procedures. To my surprise on XXXX XXXX, I received a letter in the mail stating that my account had been removed from EFT. XXXX XXXX!!! Nearly two months after they said they mailed it. I want the credit ding rescinded from my account or I would like to know what my legal options are. I have already moved my account to another mortgage company, but this remains unacceptable.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-09-13

Alden Manor, NY

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2016-09-13

Kailua Kona, HI

Loan modification,collection,foreclosure

Mortgage: Other mortgage

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

Disputed: Yes Timely Response

2016-09-13

Las Vegas, NV

Loan modification,collection,foreclosure

Mortgage: Other mortgage

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

Disputed: Yes Timely Response

2016-09-13

San Francisco, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2016-09-13

Fort Pierce, FL

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: On XXXX XXXX, XXXX, I submitted a Request for Mortgage Assistance ( RMA ) application to Specialized Loan Servicing ( SLS ). Throughout the application process, SLS has falsely alleged that I did not submit " missing documentation '' and has repeatedly requested duplicate information. In example, I submitted requested pay stubs for a non-borrower on XXXX XXXX, XXXX via email ; however, SLS again requested the non-borrower 's pay stubs on a letter dated XXXX XXXX, XXXX. Moreover, SLS requested income information for me, although the RMA submitted and various documentation illustrated that I was unemployed and not receiving any form of income. SLS has failed to process my application in a timely manner. SLS has also required to submit unnecessary duplicate information. In fact, SLS initially closed my application as a direct result of their own errors. Furthermore, SLS systems reflect that I have been approved for a workout program, but I receive correspondence that I am missing documentation that was previously submitted.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response