Specialized Loan Servicing LLC
Consumer Complaints
There are over 4954 complaints on file for Specialized Loan Servicing LLC. Dated between 2019-12-06 and 2012-04-23.
Complaints Page 14
2019-08-16
Clayton, MO
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: Loan # XXXX XXXX XXXX My loan was sold, transferred from XXXX XXXX XXXX XXXX. to SPECIALIZED LOAN SERVICING ( SLS ) XXXX, XXXX. I received no notice of this transfer either in writing or by phone. I continued to make payments, on time, to XXXX XXXX through XX/XX/XXXX, when I was notified by my bank onXX/XX/XXXX that my last payment of XXXX was returned.
Spoke with a representative at Loancare XX/XX/XXXX regarding status of account. Rep XXXX notified me of the transfer. She verified my correct mailing address but had an incorrect phone number for me on file.
Call Specialized Loan Servicing XX/XX/XXXX to verify them as the new servicer. Spoke with representative XXXX and she verified new account. SLS had an incorrect phone number and address on file for me. Somehow, my correct information was not transferred along with my loan. If letters were sent, they went to the wrong address. If SLS attempted to call, they called the wrong phone number. I know XXXX had my correct address ; I have a statement from them with the correct address.
I was promised a phone call by the representative XXXX on XX/XX/XXXX from a manager since one was not available XX/XX/XXXX, and did not receive a call.
I called SLS ( Specialized Loan Servicing ) XX/XX/XXXX and spoke to a representative regarding a payment made that did not apply to my account. Found that the funds went to a Suspense account and did not apply to my payment. Representative sent me a statement regarding my escrow funds which I did not receive by mail or call since all my contact info with SLS was incorrect. Without notice or reason, that rep dropped my call or attempted to transfer me to another department. Another representative answered, I went through the verification process again and explained the purpose of my call. This agent could see that attempts to correct my contact information, mailing address and phone number, were not correct in SLS system. I had called on XX/XX/XXXX to correct this information. This rep promised a call from a supervisor team, and escalation team regarding why all my contact information was not correct and I was not receiving statements or calls regarding account status. This call was also dropped without notice or conclusion.
I was not notified of a loan transfer ; I continued to make payments on time, which were processed. Once I learned of the transfer, I immediately made a payment to the new servicers, XX/XX/XXXX through my bank. I do not believe I am responsible for any late fees, nor there any negative reporting to my credit standing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-15
Wesley Chapel, FL
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-15
Brkn Arw, OK
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
2019-08-15
Rochester, WA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-15
Co Bluffs, IA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2019-08-14
Discovery Bay, CA
Attempts to collect debt not owed
Debt collection: Mortgage debt
Debt was already discharged in bankruptcy and is no longer owed
Complaint: Specialized Loan Service in XXXX XXXX, CO is making up fake accounts and reporting them with late payments on my credit reports. I never had any accounts with them and don't owe them any payments but they put 90 day late payments on my credit report and total destroyed it. Please have them remove it from all my credit report ASAP.
Company Response: Closed with explanation
2019-08-14
Saugus, MA
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
2019-08-14
Nashville, TN
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: XX/XX/19I set up auto pay online with my mortgage company to start XXXX and received an email confirmation and an on screen confirmation of the start date. I made an online payment XXXX for {$1200.00} to be current for XX/XX/XXXX's payment.
XX/XX/19I received notice from my bank that an auto draft came out from my mortgage for {$1200.00} which was a duplicate payment as they were not authorized to start until XXXX.
I contacted the company and made them aware of the situation of the draft in their error and asked for a refund as it put me in hardship as I am paycheck to paycheck. The customer support line said they would put in a request for refund and should occur within 7 days.
I called for status updates and spoke with several supervisors who were of no assistance on when someone would look at my case. I requested the escalation team of which over a dozen phones calls nobody is able to give me with confidance anything is being done. The entire company is based off of email and all I keep getting is we emailed them with no updates.
XX/XX/XXXXI finally was told that they would auto credit my account as that was how they took the funds. I didn't receive refund after 3 days and called back with it was mailed as paper check and now once I get it would be held by my bank for 10 day ensuring me that 7 days I would get the check. After 10 days with no funds I called the escalation team and they said we don't even know if it was mailed we will email someone ... .I was then told that they would request to stop payment and have someone overnight me a check again they would have to email someone nobody can call anyone or transfer all done by email to the dept XX/XX/XXXXcalled for updates daily and now I was told today that they re-issued a check and that dept didn't respond to the email the escalation dept sent and regular mailed my check ... ..still waiting and no assurance of my money they took without my permission. The customer support was unacceptable with no assurance that it would be handled. Everyone passed the buck to an email response. I used to be with XXXX XXXX and they sold us to Specialized Loan Services ... has been a horrible experience
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-14
WA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: On XX/XX/2019 I made a mortgage payment to Specialized Loan Servicing # XXXX, on XX/XX/2019 I had a payroll check bounce to me which caused my account to be in the negative, I contacted SLS and informed them of the situation and that the payment I had just made might bounce and I wanted to make another payment from a different account in order to ensure no late would occur on my loan, XXXX from SLS on the phone told me that this was not necessary and that if a payment was returned they would repost it and I could ensure the funds were available. On XX/XX/2019 my payment to SLS bounced and I called again to inform them of the situation, I then made arrangements for a new payment to post on XX/XX/2019 when my payroll check was made good, I also set up another payment for XX/XX/XXXXto be taken out on the XX/XX/XXXX. SLS took out both payments, these payments were the first to pay for the XX/XX/XXXXpayment that had bounced, and the second payment on XX/XX/XXXX was for the XX/XX/XXXXpayment, I was not late at any time for XX/XX/XXXX. I then made a XXXX XXXX payment on XX/XX/2019 for the XX/XX/XXXXpayment after talking to XXXX at SLS who informed me that I needed to send a payment via XXXX XXXX in lieu of paying over the phone, I asked him why I would need to do this and he stated that the payments I made in XX/XX/XXXXwere incorrectly posted and being held and he was taking care of this to ensure the problem was fixed.
On XX/XX/2019, I talked to a XXXX at SLS who informed me that they were refunding me my two payments I made in XX/XX/XXXXand then going to require me to then send them again XXXX XXXX, I was shocked at this and asked him to clarify how they could justify refunding me payments that they had set up with me, received, cashed, and taken from my account and then tell me that they would refund me these payments and require me to then send them again which would cause me to then be late and they would then add on fees, and collection notices. I asked him when this would be happening and he said it would take two weeks, I pointed out to him that at this time I was current and paid ahead on my mortgage and that if they then refund me two payments and then take two weeks to return those funds that would cause me to be late again, and would cause me undo financial harm since I had in fact made those payments. He had no explanation and told me he would escalate the situation to management which would take two weeks for them to respond.
Now on XX/XX/2019, SLS has reported to my credit report ( 2 ) 30 day lates, and ( 1 ) 60 day late when in fact I have NEVER BEEN LATE! Due to the late 's reported to my credit I was contacted by XXXX XXXX XXXX XXXX and they informed me that because of the late reportings to my credit report for my mortgage by SLS that they cancelled my credit card. I was also contacted by XXXX XXXX where I have a XXXX XXXX Line of Credit and they also informed me that my Line of Credit which I use to XXXX XXXX as a XXXX XXXX has been cancelled due to the lates that SLS has reported showing me with ( 2 ) 30 day lates and ( 1 ) 60 day late. This is devastating I have now lost my ability to obtain building supplies and I have lost more than {$15000.00} in income for this month alone without the ability to perform. I have lost my credit card that I use for expenses of my job due to the misrepresentation by SLS.
SLS has committed Predatory Lending Practices by these actions, they have erroneously reported my as late when I am not, they have harassed me by taking funds from my account on time and then trying to tell me they will eventually refund me those funds yet now report me as late. They have damaged my credit, and seriously damaged my ability to earn an income with their actions.
I have attached all payments showing posted to my account to verify that SLS has in fact received all payments on time and that SLS has no basis for these claims.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-13
San Francisco, CA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-08-13
Grosse Ile, MI
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Years back I tried a modification with XXXX XXXX, got the run around, then XXXX XXXX XXXX and got the run around for a modification as well. When things got bad financially at my home and I became delinquent and tried with XXXX XXXX XXXX in the middle of a modification process, they changed the services to specialized loan servicing. They gave us the run around, and after two attempts and a lengthy stressful process, they decided to send me a check in the amount approximately {$3000.00} overage on escrow. Then after I cashed the check and used it to stay in my house, they said it was an error and we owed them {$3000.00} back. Then finally the HAMP program helped modify the loan with the {$3000.00} owed, and gave us a 40yr mortgage. It was XXXX. I went through trauma and XXXX. I was lied to by all three companies and I was misled and disrespected. I feel that an investigation needs to be made on my mortgage for the purpose of wrongdoing by these services and XXXX XXXX that also owns the loan. MERS states some servicers I never had with my mortgage as well. I was a victim of mishandling and unprofessional mortgage services by all these corporations.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-13
Magnolia, TX
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: Went through mortgage loan modification and made all payments on time. New loan servicer incorrectly reported to credit bureaus that we were past due 180 days in XX/XX/2018 when the loan was transferred to Specialized Loan Servicing ( SLS ) XX/XX/2018. We made requested payments and modification was completed XX/XX/2018. Now our credit history shows we were late with 2 mortgages-XXXX XXXX and SLS, even though we paid as agreed to new loan servicer SLS. This negative information has prevented and is still preventing me from my ability to conduct commerce. I have disputed this with all 3 credit reporting agencies and SLS and have had no success in correcting this information. SLS has violated FCRA by not informing us of this negative credit history so that we may have disputed it back in XX/XX/2018 when they started reporting it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-13
Chula Vista, CA
Closing on a mortgage
Mortgage: Other type of mortgage
Complaint: In XX/XX/XXXX we obtained a 2nd mortgage with XXXX XXXX XXXX when we purchased our home. Several years later this mortgage was sold to XXXX. In XX/XX/XXXX we filed for Chapter XXXX bankruptcy. We stopped paying on this 2nd shortly after and never received any further notification from XXXX. This no longer shows on our credit report.
In XX/XX/XXXX we decided to refinance our 1st mortgage. This was dragging out a bit, and in XX/XX/XXXX we were told we would have to clear the 2nd mortgage that showed up on our Title Report. We were shocked by this and tried to find XXXX, but they no longer existed. One small piece of paper that I found somehow linked XXXX to XXXX XXXX , who currently holds our 1st. I contacted XXXX, who told me on XX/XX/XXXX that this loan had been sold to SLS and they gave me a contact number. I contacted SLS on XX/XX/XXXX by phone and spoke with a representative who told me this loan had been archived in their system, but if I faxed my request for information, along with a copy of the title report they would work with me on how I could remove this lien. She said to expect it to take a few days for this to be done.
Later the same day, I faxed my request, along with a copy of the title report, to SLS. A week and two days later ( XX/XX/XXXX ), I called again and talked to a XXXX who said nothing had been done on it and she couldn't see a request. It was still archived. She suggested that I re-send my request and that I should hear back within 5 days. I re-faxed and also emailed my request on XX/XX/XXXX. I got a read-receipt from my email.
In the meantime, I'm having to communicate all of this with our potential new mortgage company.
On XX/XX/XXXX, I still had heard nothing, so I called again and talked to both a XXXX and a XXXX, who were both appalled that nothing had been done. They said they emailed the proper department and that I should receive a phone call from someone later that day. They both implied that I should have received a response within 5 days.
Today is XX/XX/XXXX, we still have heard NOTHING.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-13
San Francisco, CA
Applying for a mortgage or refinancing an existing 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
2019-08-13
VT
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I have been making 2 payments per month directly from my bank to the mortgage company, my mortgage is due on the XX/XX/XXXXof every month. I make a payment 15 days prior to the mortgage coming due and then on the XX/XX/XXXX. I was told that because there is no balance due on the account on the XX/XX/XXXXof each month, the loan company has been applying my payments to multiple accounts including principal. On my loan statement, it states that the funds would be placed in suspense and then when the balance of the partial payment is made it will then be applied to the mortgage. This has not happened.
I have called the mortgage company and submitted online emails to them advising them that I am current. I have provided them a list of all the payments made that are confirmed from my bank.
Each call they tell me that they will remove the past due fee and correct the problem. I have learned that on several occasions, the representative only removed the past due fee but never corrected the transaction. I am now showing a past due balance of 1 full mortgage payment.
I did track back to an error that they have not fixed and they are now advising me that they can not correct the error because it is in last years transactions and that year is closed. They asked me to place my request in writing but there is a good chance that they will not correct the change.
I am showing late on my mortgage statement and I am in the process of applying for a home equity line of credit with my bank. I had to explain for this and am being impacted because of this error. If it isn't fixed I am sure that they will at some point place me into foreclosure because of their errors.
I can show all my payments to evidence timely mortgage payments were made.
I need help! Can you assist?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-12
Glenarden, MD
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
2019-08-11
Oxford, GA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: We sold this residence on XX/XX/2019.
My credit report still reflects and open loan balance of {$120000.00}, and 2 late payments which were brought current.
Company Response: Closed with explanation
2019-08-09
Kildeer, IL
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-09
Asheville, NC
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
2019-08-09
Lake Saint Louis, MO
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-08
Arco, CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have tried to modify my loan currently held by Specialized Loan Servicing. I believe this loan is a predatory loan as the interest rate is 11.3 %. It is a purchase money loan which I got before the financial crisis that occurred about 10 years ago.. I did not receive any invoices for quite a long time and was told the loan had been forgiven. I'm now told by SLS that I am in default and risk foreclosure. Between having thought the loan was forgiven, the missed payments and the exceedingly high interest rate SLS is telling me I owe them 1/3 of the amount now owed on the loan. The balance is much higher than the original loan amount and I just can not afford that kind of payment They just refuse to work with me and denied my request to modify my loan. This lender is not considering that the current interest rate on my loan is completely out of line with interest rates that have been granted in the last several years.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-07
Federal Way, WA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I got behind 90 days because the website ( specialized loan servicing ) won't allow you to pay just 1 month if you are behind. They force you to pay the full amount so you stay behind. My other Mortgage company ( XXXX XXXX XXXX ) lets you pay any amount you want and pay extra to the principal if you want. I called XX/XX/2019 to pay the 90 days and they would only allow me to pay 2 months worth so I'm now 60 days behind because a new bill came out. I tried to pay 1 month on their website on XXXX XXXX 2019 but it won't allow me to do so. I would just pay the 2 months to catch up but I only have 1 months worth I can pay this month ( which would bring me current ) but I'm not allowed to on the website since 1 owe 2 months. They make it hard to pay if you get behind and I don't think that's fair. It just keeps you behind. I don't know what kind of rules there are for this case but hopefully there is something.
Thanks, XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-07
New Cassel, NY
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
2019-08-07
Walnut Creek, CA
Written notification about debt
Debt collection: Mortgage debt
Didn't receive enough information to verify debt
Complaint: By way of letter dated XX/XX/2019, Bank XXXX XXXX, XXXX XXXX. Box XXXX, XXXX, FL XXXX, advised me that effective XX/XX/2019, my home equity line of credit would be assigned to Specialized Loan Servicing, XXXX, XXXX O. XXXX XXXX, XXXX, CO XXXX. As of today, XX/XX/2019, I have received no correspondence from Specialized Loan Servicing. XXXX XXXX XXXX has advised me that Specialize will establish a new loan account number for my loan. As of today I have no knowledge of that loan account number. My payment is due on XX/XX/2019.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-08-06
Foothill Ranch, CA
Struggling to pay mortgage
Mortgage: Home equity loan or line of credit (HELOC)
Complaint: In XX/XX/XXXX We suffered a substantial loss of income. Our first mortgage was modified by way of interest reduction. However, the second proposed literally a XXXX-dollar reduction in payments for which we could not afford. From then until XX/XX/XXXX of this year there has been no communication between us. On XX/XX/XXXX, I reach out to them in order to make arrangement to settle the load as after all the past years we have finally recovered.
The process started via XXXX Teller ID : XXXX instructing us to submit a loan modification for which we did. I believe the process took the better part of a month before them concluding we were limited to either a short sale or complete loan payoff.
After reading the entire package I decided to enlist the help of a certified VA HUD consular. At his request, I filled out the necessary third party authorization forms and submitted them to the consular as requested, he, in turn, submitted the signed and submitted them to SLS.
The HUD consular advised us to resubmit a new request for a loan modification. I attempted to locate the forms on SLS 's website and was unfortunately unable to do so, which resulted in a phone call directly to SLS. At that point, I was advised there would be no need to do so as they already had our information and that is was being reviewed.
On a correspondence letter dated XX/XX/XXXX SLS stated they were in receipt of our request for assistance and have determined the application was complete as of XX/XX/XXXX and that they were in the process of reviewing, however, today while on the phone with both our consular and XXXX an SLS teller the insisted there was no review in process. Please see attachment number 1. Additionally, it should be noted that SLS denied receipt of the third party authorization on the phone during today 's conference call. I found as you will see in the attachments the process to be confusing with them saying how much they want to help on one hand and giving unreasonable solutions on the other.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation