Specialized Loan Servicing LLC

2016-08-02

Soquel, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I received a conventional XX/XX/XXXX ARM rate term refi XX/XX/XXXX from XXXX XXXX XXXX with no escrow for taxes and hazard insurance as I elected to pay them on my own and have no trouble doing so. I did however have to have PMI due to the appraised value being slightly lower than expect and the PMI payment was $ XXXX./mo. I had been paying XXXX principle and interest plus $ XXXX./mo for perhaps 8 months before the servicing was sold to Specialized Loan Servicing, ( SLS ). SLS, now stated that I am " short '' on my PMI escrow account due to there not being any reserves for PMI and are they adding the shortfall to my monthly payment. In fact they have suspended a normal regular payment and charged me a late fee besides before my calls fixed that. Where Im at now is, SLS states to me that they are allowed to charge me extra for a cushion on the PMI as they consider it an escrow account. I know this is n't right, but after many calls even to upper management, the issue is n't resolved. I would like to know what your take is on this. I thought before I notify CFPB ( never thought I would want to contact them on purpose ), I would see what you can advise me or if you know something I do n't on this. I have the statement and escrow shortage statement if you would like to see them. I also am concerned that even if SLS clears my issue, how many other consumers do n't realize whats going on and I would like that looked in to as well..
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

2016-08-02

Quartzsite, AZ

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: My wife divorced me 2 years ago. In the court papers the house was given to me until the end of XXXX at which time I had to have refinanced the house or sold it. The house was approximately XXXX to XXXX XXXX upside down. No one wanted to refi it or buy it. So an individual I knew did a loan modification for me and submitted it to XXXX. XXXX said that the modification was approved in XXXX of XXXX and the paperwork was fedexed to me. I never got the paperwork. In februrary I was sent a letter from XXXX telling me that the mortgage was sold to SLS. SLS acknowledged that the mortgage had been sold to them. I thought that meant the modification had been approved. Unfortuantely I was told that the mortgage had been foreclosed on by SLS and sold to a third party called XXXX XXXX XXXX XXXX. I was not made aware of this until a man showed up at the door at the XXXX and told my roommate that my home was foreclosed on and put on the acution block and sold to his company and he had put the utilities in his name as was ready to move in. I immediately contacted XXXX and they told me that as far as their records show the loan modification was still active and on the books. I went to court on Monday in XXXX and the judge dismissed the eviction notice and told the lawyer that he did not have any official paperwork to do the eviction, At that point the judge referred the matter to XXXX court for a hearing on XXXX XXXX at XXXX. Specialized Loan Service contact information is as follows : XXXX Co. XXXX XXXX Arizona XXXX The property address that is in dispute is : XXXX Arizona XXXX I a good deal of this was done without my knowledge. I continue to wonder why XXXX after not hearing back from me about the paperwork did not send a follow up letter of something informing me that it was sent. I went over to the XXXX bank several times to find something out.
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

2016-08-01

San Francisco, 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

2016-08-01

Plymouth, FL

Loan servicing, payments, escrow account

Mortgage: Home equity loan or line of credit

Complaint: We had another issue in which we had to file personal BK, however we had no intention of dissolving this debt and continued to make payments every month, and we were finally able to reaffirm the debt. In the last 4 months, they had mis applied a payment, so it was showing we did not make a payment, though they show they had it but did not apply it. So for the final 3 months, we did not make a payment until it was applied. Our loan was reaffirmed and the BK discharged, this company immediately sent out a foreclosure notice and will not apply the payment correctly. I spoke to XXXX in Executive Services, she researched it, agreed with us and was going to re apply the payment correctly. Someone above her denied the request and now they want to foreclose on this reaffirmation. We were under Bankruptcy protection and they can not foreclose on the debt, for missed payments while under the Bankruptcy, so this is illegal. This is related to our home in XXXX Nevada - Loan # XXXX
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

2016-08-01

Chicago, IL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My mortgage company, Specialized Loan Servicing LLC, based in Colorado, is using investor guidelines for PMI removal that are in excess of what is allowed by the Homeowners Protection Act of 1998. Specifically, SLS is attempting to impose a seasoning requirement on my mortgage before they will remove PMI. I sent a letter to SLS explaining why the seasoning requirement is not enforceable. SLS sent a written response stating that the seasoning requirement is valid. I am sending another, more detailed letter to SLS at the same time I am submitting this complaint. I will attach copies of all of the relevant correspondence. Additionally, I recently received the annual PMI disclosure notice from SLS. The annual disclosure notice does not mention a seasoning requirement. It appears that SLS does n't mention a seasoning requirement until you write to them requesting that PMI be removed.
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

2016-07-31

South Florida, FL

Settlement process and costs

Mortgage: Other mortgage

Complaint: SLS had requested an additional 45 days to respond basis for the denial of the credits for Tier 2 and/or the Tier 1 denial based on all sources of income, but yet, SLS sent me a modification package due to be signed, filed and entered by XX/XX/2016, which is days before the time they requested to evaluate. Please be aware that my loan was a predatory loan approved based on my excellent credit score, originated by XXXX then transferred to XXXX and now SLS. The lack of interest from XXXX XXXX and XXXX to evaluate my case and modify, resulted in years of unpaid mortgage payments, which SLS is now adding as 1 final balloon payment to be made at the end of the term, including their attorney fees, after my last mortgage payment is made in 30 years. ( Loan mod. package attached. ) My wish is for SLS to re-examine the loan mod for either further credits on the Tier 2 or a principal reduction and credits consistent with the Tier 1 guidelines, the servicer and the lender will permit the evaluation without compromising the existing agreement. Thank you.
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

2016-07-31

VT

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Specialized loan Servicing is reporting inaccurate and false data to all XXXX credit reporting agencies on a home mortgage. This inaccurate information includes incorrect balance, incorrect monthly payments, number of late payments, foreclosure status, and dates.
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

2016-07-29

Brooklyn, NY

Other

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

2016-07-29

Brooklyn, NY

Other

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

2016-07-29

Sherman Oaks, 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

2016-07-29

AZ

Settlement process and costs

Mortgage: Other mortgage

Complaint: I had been working with SLS or the past two years. While working with SLS I made my monthly house payments on time so that if the loan was not approved I would still maintain my house. My original loan was through XXXX XXXX XXXX. Apparently they sold my house loan to SLS. I had applied for a HARP modification on my home. I have waited almost two years with numerous phone calls and resubmitting documents, rude behavior, and promises. I was finally approved for the Tier II loan and had made the payments as agreed. While in the process of making the payments and paying as agreed with the modification approved my home was sold to XXXX. I was not notified by SLS that they had sold my loan, but they were still accepting my house payments until the loan sold on XXXX/XXXX/2016. XXXX purchased my home and has filed documents for me to vacate my property at XXXX XXXX XXXX. The Bank wants me out of my house. They have already took my property and Deeds of Trust and I have not been notified to vacate by the courts. I did as required, made my payments as agreed and sent in all documents. But for SLS to sell my home from under us is wrong. We were not delinquent. SLS has not been faithful and truthful on their parts, and are very rude, and disrespectful on helping. Each phone call is a different lie, or they ca n't find the documents or never received. I have had to submit documents more than three times on some occasions. I need help on getting my house back. My husband and I are XXXX XXXX. My husband is XXXX and I am XXXX in a few month. We have no place to go, we do not have the funds to hire and attorney, or moving expenses. How can SLS sell our home when we was current in our house payments. Please help us. I can mail or fax documentation copies as requested. I believe we have been removed from our home illegally. There tent to be an on going situation with SLS and XXXX committing fraud on taking homes from people. In the area I live it is called flipping homes and I believe I have been the victim of the scams. Some months I had to pay extra {$300.00} monthly payments above the {$1100.00} house payments. Plus, I had to pay closing cost in the amount of {$650.00}. With HARP Loans I were told you did not pay closing costs. I Desire that SLS go back and buy our home back from XXXX and finish our loan with us. We did not breach our contract. SLS sold our loan to XXXX without making them aware they had approved us for a Loan Modification. We want XXXX and SLS to review their documents and give back what we have worked hard for the past 15 years or so.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-07-28

Brooklyn, NY

Other

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

2016-07-28

Downers Grove, IL

Loan servicing, payments, escrow account

Mortgage: Home equity loan or 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

Disputed: No Timely Response

2016-07-28

Oxford, GA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: A few months back, I had received a letter via mail explaining that my escrow amount on my mortgage will be increasing without notifying a set date. I went about making my usual payments until I received a call this XX/XX/XXXX stating that I have not made a payment to SLS. I notified the representative that I had made a payment in XX/XX/XXXX for XX/XX/XXXX. It turns out that the escrow amount had kicked in without a prior notification ( via mail or on the portal ). I was about {$66.00} short on my payment. I asked the representative to withdraw a {$100.00} applying the {$66.00} to escrow and the remaining from that balance to my principal. I was assured that a late payment will not be charged and there will not be any payment fee since I had asked the representative to help me with applying my payment. As I looked through the sls portal yesterday, it turns out that the sls portal was showing me a different amount and the mortgage statement was not updated and reflected a late charge of {$76.00}. Along with that, I looked at my bank statement and I was charged a fees of {$9.00} simply because the representative had helped me with the payment. I called SLS at XXXX. XXXX from SLS picked up the phone. I explained the situation to her and I was disconnected from the line after 11 minutes. I called again and this time XXXX from SLS picked up. I explained the situation and it was forwarded to another representative which was XXXX who was an account executive. I told her that I would like to speak to a manager/supervisor. I was asked to hold on and I hung up at XXXX since I was unable to get a hold of anyone which was another 10 minutes. I called back again at XXXX XXXX from SLS picked up this time and told me that she will not be able to transfer me to anyone until I tell her what I need. I told her the entire story again and I was transferred to XXXX once again. I repeated my story again to XXXX. She explained that all that she can do is to send in a request to the cash department for " consideration '' of my late payment for {$37.00} and my fee for {$9.00}. They may/may not apply that money to the principal but I can check back after 2 days. I told her that the amount on the mortgage statement shows {$76.00} as a late fee charge. She said it is a network error and she will waive the {$38.00} charge. I asked her how much do I have to pay for XX/XX/XXXX since the amount listed on the mortgage statement was different than what was listed on the login portal which was different than what she was saying. She told me that the login portal will be updated with the correct payment information on XXXX XXXX. Keep in mind most of the consumers ( like me ) have made their payment by this time to avoid late charges. I asked XXXX if I can talk to some manager/supervisor on duty. She explained that there was no one on duty at her call center. I asked if I can have a corporate phone number to call. She explained that there was no other phone number but I can send a written mail to their Colorado location. This last call took approximately 26 minutes. Thus, after wasting an hour explaining the situation to XXXX different people ( XXXX, XXXX, XXXX, and XXXX ), there was no resolution. I still have to call after 2 days. There is no transparency pertaining to what a customer has to pay on their monthly mortgage if issues like this come up. Either the representatives simply hang up, transfer you to another representative, or put you on hold. Even if a representative does answers, no resolution is reached. This was a horrible customer experience. Financial information is very crucial and SLS is doing a very poor job handling this. Mortgage is not a few dollars. It is an investment where hundreds of thousands of dollars are involved as in my case. I believe this is a serious concern. I will really appreciate if some actions are taken to address these concerns.
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

2016-07-28

Billerica, MA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I have been trying to sell my home in a short sale with SLS. I have hired a listing agent as well as an attorney to facilitate this. I was informed that we have a solid offer on the property and it was sent to SLS for review and approval. Despite SLS confirming that they have all of the requested documents, they are not acting in good faith and continuing with the sale date. I have complied with absolutely every request and I can not understand why they are refusing to help me. I am in poor health and am trying to avoid the embarrassment of an auction. Please help me to sell this home in a short sale so I can leave with some dignity.
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

2016-07-28

Houston, TX

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: XX/XX/2016, we received a postal notice from Specialized Loan Servicing , LLC, located at XXXX XXXX XXXX. XXXX . XXXX, XXXX XXXX, Colorado XXXX, that their company had purchased my primary mortgage, and we were to stop making payments to the previous company that had held the mortgage. The notice said that we would receive information about how to make payments, and that our monthly payments would not change from the previous company 's amount. By XXXX XXXX, we had not received an identifiable account number, statement or payment book, so we twice called the number on the postal notice. However, we were unable to get past the automated messaging system, which requested an account number. This request was not satisfied, evidently, by inputting the number on the original notice, nor by inputting my social security number. We waited for a statement or further payment instructions. By XXXX XXXX, none had arrived. We went to the SLS website and attempted to set up a payment account to make online payments. Again, both my social security number and the number on the original notice turned up the statement in red that the system did not have an active account for me on record. We took a screen shot of this notice and have attached it to this complaint. Then, on XXXX XXXX, 2016, we received a XXXX delivery of a packet containing information about applying for a U.S. Government Hardest Hit Fund that is NOT LISTED as available in my state, and forms to fill out for foreclosure on my property to send back to SLS. Buried on page XXXX of this multi-page packet was a statement that I was delinquent in one or more payments to SLS, a company that had never made it possible for me to make a secure and traceable payment toward a stated amount. That same day, XXXX XXXX, 2016, I immediately tried again to telephone SLS. This time, my call was routed by automated system to a " different office '' that gave no useful information. I kept trying until I was offered an option to speak to a person in a department called Customer Resolution. The woman who answered asked why I was calling SLS. I told her that I had received a XXXX statement that I was delinquent in one or more payments to SLS when SLS had never sent me a bill, had never acknowledged online that I had an active account with them, and had never made it possible for me to register to make secure payments. She immediately hung up in my face, without another word.
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

2016-07-27

Kendall, FL

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: No Timely Response

2016-07-27

Minneapolis, MN

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: Yes Timely Response

2016-07-27

Lewisville, TX

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: XXXX - XXXX Lien Holder - Specialized Loan Servicing is reporting late payment on my credit report after I provide proof that I was never late. Fixed Rate - XXXX Lien Holder - XXXX XXXX is also reporting late payments on my credit report after I was told they were n't going to report my mortgage payments late once I began my new trail payments plus the lender is showing my mortgage account as a foreclosure. Note, I also provided my bank transactions showing when my mortgage payments were drafted prior to the due date.
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

2016-07-27

FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My loan went into foreclosure due to my being in an accident. I was placed on a repayment plan to get the loan out of foreclosure with my first payment being due in XXXX 2016. I made the first payment with no problem. The second payment was due on XXXX XXXX and I made the payment on XXXX XXXX. I overnighted the payment on XX/XX/XXXX and it was received on XX/XX/XXXX. The XXXX was a Friday so I called on Monday to make they had received the payment and posted it. I was told that my repayment plan had broken on the XX/XX/XXXX. I asked why did the plan break and they advised due to non payment. I then asked how many days after the first do I have to make the payment before the plan breaks as the payment was n't even 30 days late. I agree it was n't made on the XXXX but I have never heard of a plan breaking after 18 days. The mortgage company stated to me that there is no set date for the plan to break, just whenever they review it and see there is no payment made. Also let it be noted that I have spoken to them several time during the month and not one person told me that the plan would break on XX/XX/XXXX. I thought I would have at least 30 days before the plan broke. When I spoke to the company on Monday the XXXX I was advised they would try to restart the plan and asked me when could I make the XX/XX/XXXX payment. I advised I could make the XX/XX/XXXX payment on XXXX XXXX. On Tuesday the company called me and stated they could not restart the plan because the plan broke on XX/XX/XXXX and the payment I made on XX/XX/XXXX would be sent back to me. I have worked in mortgage servicing for the last 14 years and I have never seen a repayment plan break in less than 30 days and this one broke on the 18th day. Furthermore this was my first repayment plan, and to also refuse to set the plan back up with an explanation that the payments have to made by so many days after the due date or the plan will break is not fair. Especially when I sent the payment in, certified funds, and now they are just down right refusing to accept the payment and are sending it back. I am someone trying to keep my home and to just refuse to accept the payment and send it back is not right. I could see if the payment was not made in XX/XX/XXXX but it was.
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

2016-07-27

Chula Vista, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: A Colorado company named Specialized Loan Servicing is managing my home loan. The calculations that they used for the escrow account are wrong. Being as such they want me to send in more money every month to cover their falsely calculated impound account. Every month. I have made my monthly payments every month. Today via a phone call I was informed that they will not apply my last payment because it was not paid in full. This will inevitably cause a " Notice of Default '' action to occur. In the past ( XX/XX/XXXX ), I had sent Specialized Loan Servicing documentation showing the correct information that is needed to calculate the proper property tax amount. I was informed that they did not receive that information. Can you assist me in helping Specialized Loan Servicing understand their errors and calculate the correct mortgage payment?
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

2016-07-27

PA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I applied for a Home Loan Modification due to inflation and the fact that I have not received a Cost of Living Adjustment. My Lender indicated that, " Your current monthly housing expense, which includes the monthly principal and interest payment on your first lien mortgage loan plus property taxes, hazard insurance and homeowner 's dues is less than or equal to 31 % of your gross monthly income which we verified as {$3700.00}. Your housing expense must be greater than 31 % of your gross income to be eligible for a Home Affordable Modification. If you believe this verified income is incorrect, please contact us. '' I contacted Specialized Loan Services and was told by a representative named XXXX that they are allowed to increase my Gross income by 25 % which I do not make. After taxes, and other deductions, My Social Security income is {$1400.00} and my retirement income is {$1500.00}. The total is {$2900.00}. My Gross income is no where near {$3700.00}.
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

2016-07-26

Nantucket, MA

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: No Timely Response

2016-07-26

Kendall, FL

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: No Timely Response

2016-07-26

Cloverleaf, TX

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