Specialized Loan Servicing LLC

2016-03-17

NY

Loan modification,collection,foreclosure

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

Disputed: No Timely Response

2016-03-17

East Hazel Crest, IL

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Untimely Response

2016-03-17

Cheshire, OR

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Specialized Loan Servicing has been very difficult to work with. Please see attached dispute letter. Lack communication unless it suits them. Refused to assist me, forcing me into Foreclosure when it was not necessary. They refused my cash payment that I was told were certified funds, but then refused to tell me they refused the payment, instead blaming it on the vendor that sent the funds and giving me the run around only to tell me there was nothing I could do but lose my home. They transfer you over and over so you get so frustrated you just hang up.
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

2016-03-17

NY

Loan modification,collection,foreclosure

Mortgage: Home equity loan or line of credit

Complaint: XXXX XXXX XXXX line of credit of {$50000.00} with balloon payment due in XXXX, 2015. Requested modification of the loan to pay back principal plus interest. Completed all paperwork but was then transferred from the then current XXXX XXXX XXXX to SLS Loan Servicing. I completed the necessary paperwork again with SLS and they continued to indicate incomplete processing and duplicate requests for the same documents over and over one document at a time. This continued for the next 8 months. I was finally denied modification, but was encouraged to complete modification paperwork again. I then completed a third set of paperwork At no time during these 8 months was I ever told by any SLS representative that the loan was not eligible for modification. In the meantime, behind the scenes SLS had begun foreclosure proceedings as early as XXXX of 2015. I found that out when I was charged for an inspection of my property. I completed a third set of paperwork, SLS claimed it was incomplete and was denied. They then proceeded with foreclosure. My primary mortgage is with XXXX and has never been late. Also, during the time the line of credit was open, those payments were also never late. SLS has now marked my credit and has made it almost impossible for me to refinance the loan. Had I been told back in XXXX of 2015 that the loan was not eligible for modification, I may have been able to refinance the loan and would have avoided the unnecessary foreclosure proceedings that followed. They basically wasted my time all these months and accrued unnecessary interest. There are so many complaints out there against this servicer for similar improper procedures. In order for the problem to vanish, I had to withdraw the funds from my IRA to pay off the loan with interest and about {$3000.00} in foreclosure fees. I appeared at a foreclosure conference and the mediator in fact agreed these practices were unjust and ordered the attorney to adjust some of the fees. I was never contacted by counsel for the bank about foreclosure until the day I was served papers. The mediator was angered at the practices of SLS and the law firm and indicated that a reversal of interest could ensue. Now I am told that the dismissal of the foreclosure action can take another few months, even though the loan is fully paid. Someone has to stop SLS and protect consumers from these scamming tactics they employ.
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

2016-03-16

Briones, 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

2016-03-16

Asheville, NC

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

2016-03-16

Las Vegas, NV

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: I have sent payments on my loan modification with SLS loan # XXXX. I have gotten behind a month several times but I have always caught up right away. Several times they have taken a payment made in a timely fashion and credited it to principal reduction instead on to the payment. I have had some success in getting them to fix the problem but with the XXXX XXXX payment due on XX/XX/XXXX they received XX/XX/XXXX they credited to principal and said they would properly credit it but did not do that. I made the XXXX XXXX and XXXX XXXX on XXXX XXXX and once again asked them to properly apply the XXXX payment and they still did not do that. Then on XXXX/XXXX/XXXX I called to make the XX/XX/XXXX payment and found out that they had not fixed the XXXX XXXX payment and I reviewed it with them again and asked for it to be properly credited. They once again said they would correct the problem and took the XXXX XXXX payment. When I called to make the XX/XX/XXXX payment they would not take it stating that my account was in default and sent me a notice of default. I was pretty paralyzed but by XXXX tried to get it fixed by phone again and thought I had finally succeeded when I spoke with a fellow who said he would correct the problem and took the XX/XX/XXXX and XX/XX/XXXX payments. Then in XXXX I get a statement that says my interest is 5.25 % when my note clearly says the payment is 4 %. I make the payments by phone because every time I send XXXX it gets credited to principal and not to the payments and I do not understand why. I have the names and most of the dates I talked to everyone if needed. I faxes them a " qualified written dispute '' regarding the payments, which is what I was told to do, on XXXX/XXXX/XXXX which they say they did not receive, so I sent it again on XXXX/XXXX/XXXX which they also said they did not receive, so I sent it again on XXXX/XXXX/XXXX by certified mail. I finally got a letter stating they received the fax on XXXX/XXXX/XXXX. Then when I found out they had the interest rate wrong I send another " qualified written dispute '' on XXXX/XXXX/XXXX. They say they have not received that one either when I called on XX/XX/XXXX or today on XXXX/XXXX/XXXX. I need to make the XX/XX/XXXX payment and they will not take it. I have transaction receipts for the faxes, a return receipt for the mail and names and dates for most of the calls I have made to them. Please help me.
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

2016-03-16

Monrovia, CA

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

2016-03-16

Bowie, MD

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

2016-03-15

Adams Gardens, TX

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

2016-03-15

Los Angeles, 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

2016-03-15

WA

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: XXXX XXXX ( XXXX ) " transferred '' our loan to Specialized Loan Servicing ( SLS ) XX/XX/XXXX. First, they did n't give us any notification and our only indication the loan had been transferred was when an invoice did n't arrive from XXXX. Second, there was a substantial lag in the transfer of our information to SLS and we were unable to remit payment until XXXX 2016 ( at which point we paid for both XX/XX/XXXX and XX/XX/XXXX, bringing our account up to date ). Further, when the information transferred, confirmation of our condo insurance did not transfer and SLS initiated proceedings to provide insurance, despite repeated contact from myself and my insurance agent. On XXXX XXXX, 2016, we received a packet dated XXXX XXXX, 2016, with loan modification paperwork and information on how to avoid foreclosure. When I contacted SLS customer service, they were unable to confirm whether they were merely servicing or whether they had purchased the loan and while they confirmed that our accounts were up to date and they had received our insurance information, they were unable to provide contact information for filing a complaint or reference numbers for the call or any notations made to that effect in our account file. I expressed my concern that they were deliberately misrepresenting the state of our account in an attempt to get us to change the terms of our loan and they threatened to discontinue the call if I continued to " go down that road. ''
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

2016-03-14

Irvine, 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

2016-03-14

Briarwood, NY

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

2016-03-14

Katy, TX

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

2016-03-14

Ft Belvoir, VA

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

2016-03-14

Bel Alton, MD

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

2016-03-14

Point Arena Air Force Statio, CA

False statements or representation

Debt collection: Mortgage

Attempted to collect wrong amount
Company Response: Closed with explanation

Disputed: No Untimely Response

2016-03-14

Houston, TX

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I am in the middle of a Loan Modification with Specialized Loan Servicing and now They sent my loan to XXXX WITHOUT SENDING ME A GOODBYE LETTER OR ANYTHING. Now Specialized Loan Servicing is doing the same thing they did before, Trying to say they never received my paperwork. I have the letter of CONFIRMATION FROM THEM SAYING THEY RECEIVED MY PAPERWORK AND IS PROCESSING MY MODIFICATION ANT IT MAY TAKE UP TO 30 DAYS. This letter is dated XXXX/XXXX/2016. SELECT LOAN SERVICING IS NOT BONDED TO COLLECT IN THE STATE OF TEXAS AND NITHER IS 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

2016-03-14

Garrett Park, MD

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: My Mortgage servicer ( SLS ) would not accept electronic payments from my bank scheduled on XXXX/XXXX/2016 for receipt on XXXX/XXXX/2016 or XXXX/XXXX/2016 ( the last 2 days of the grace period for my mortgage loan ). This was noted by both my XXXX XXXX and XXXX XXXX XXXX checking accounts - when the respective Bank 's bill pay centers stated " SLS would not allow payments until XXXX/XXXX/2016 or later ''. All my other electronic payments to XXXX XXXX, XXXX, etc. were accepted as scheduled by the vendors for the day after the payment was submitted ( as submitted before XXXX ) - or XXXX/XXXX/2016 for payments I submitted today ( XXXX/XXXX/2016 ). SLS will accept payments made through XXXX XXXX or their own website - XXXX for a fee - but are now restricting customers from using their bank bill pay services at or around mortgage payment cutoff. This is wrong - in that they should accept all forms of electronic payments on equal terms.
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

2016-03-13

Seattle, WA

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: Upon acquiring my mortgage loan, SLS loan Servicing contacted me two months later stating my escrow account was short over XXXX dollars, and they would need to raise my payment in order to make up the difference. A representative on the phone told me it was law that SLS needed to have the surplus in escrow, which it is not. As a result my payment was raised for a year. Just today, XXXX/XXXX/2016, I received a letter of collection from SLS loan servicing stating they have no proof of homeowner 's hazard insurance. My policy renews automatically, and they stated in the letter they are billing me for the insurance they had to purchase for approximately XXXX dollars. I have had no lapse in coverage, yet their tactics allow them to claim they can purchase insurance and collect from me due to their disorganization. This is simply unethical, and fraudulent, as they have my homeowner 's policy information on file to very. Additionally, they never contacted me until now that they did not have new coverage info. According to their correspondence, I can update my information via their website, which is consistently down and unavailable.
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

2016-03-13

Houston, TX

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: SLS will not provide me with online statements so that I can see where the numerous fees they attached to my mortgage payment are being applied. Initially they stated it was because my mortgage was behind ; however I have since caught it up. They continue to increase my monthly payment and with me not having access to documents online I feel I am being taken advantage of currently. Not to mention how many late fees they were able to charge me for months.
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

2016-03-12

Plymouth, FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Improper Credit of Payments during Bankruptcy : We filed Chapter XXXX Bankruptcy on XXXX/XXXX/XXXX and our mortgage company was XXXX XXXX XXXX. The servicing transferred to Specialized Loan Servicing ( SLS ) on XXXX/XXXX/XXXX. We made all payments to the Trustee, who subsequently made all mortgage payments directly to the lender. Our case was discharged on XXXX/XXXX/XXXX. As part of the Notice of Final Cure, the Bankruptcy Trustee stated the SLS claim was paid in full. In response to the Notice of Final Cure on XXXX/XXXX/XXXX, the XXXX Attorney stated the pre-petition arrears have been cured and the post-petition payment in the amount of {$4700.00} was delinquent. We paid the {$4700.00} amount and are current on our loan serviced by SLS. Even though we complied with the Final Cure and paid the delinquent payments, SLS is stating we are behind on our payments. No Notification Regarding Payment after Discharge from Bankruptcy : SLS sent no notification to make payment after our BK discharge ( XXXX/XXXX/XXXX ). Also, we could not access our loan information on line until XXXX/XXXX/XXXX. We made several calls to SLS and were even told not to make a payment until they reviewed our loan. We did not know when our next payment was due. Our second mortgage, XXXX, sent us a letter indicating the amount of payment and place to make the payment. All payments were made timely to XXXX and XXXX did an excellent job keeping us informed. Despite many attempts to obtain accurate information from SLS, it became clear there was no one competent at SLS to answer our questions regarding the amount and due date of the payment. Incorrect Pay History : This error has resulted in inaccurate amounts added to our loan, such as interest and late fees. We received a verification of mortgage on XXXX/XXXX/XXXX which is also in error. Improper Credit Reporting : We applied for a loan with XXXX XXXX and were denied due to SLS showing we are currently delinquent on our 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

2016-03-11

New Port Richey, FL

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

2016-03-11

Warrenton, VA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I purchased a home in XXXX XXXX. In XXXX XXXX, my mortgage was sold to SLS. I immediately began getting threatening letters from SLS about " inadequate insurance '' and was told I must make arrangements for coverage or face fines / litigation. According to the terms of my loan, property insurance is paid through my escrow account, however I have concerns that SLS is not acting within the law regarding collection and distribution of escrow funds. I did some further research and discovered that SLS has a reputation for such unethical activity. I am now in the process of refinancing with a reputable company, am worried about what SLS 's misbehavior will do to me financially until it is no longer my mortgage servicer. Please investigate and let me know what steps I should take to address this issue. 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