Specialized Loan Servicing LLC

2019-08-06

Kildeer, IL

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2019-08-06

Arco, CA

Struggling to pay mortgage

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

Complaint: I was affected by the National Disaster in XX/XX/XXXX, I was employed in a Federally Declared National Disaster Area due to the CA Wildfires. I am in contact w my first loan servicer and previous servicer to obtain disaster assistance I previously applied for, which has been affected as a result of my loan servicer transfer. I advised SLS that was in the middle of applying for assistance based on the disaster and that I was affected prior to SLS beginning foreclosure proceedings. I also requested an assistance package which I never received. Now I have a pending sale date at the end of this month, XX/XX/XXXX, which SLS advised me was an option on my account.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-08-06

NH

Trouble during payment process

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

Complaint: 1. I had a HELOC from XXXX XXXX XXXX that reached it's end of drawdown period on XX/XX/XXXX. The XXXX account number is XXXX 2. I owe approximately {$20000.00} on the HELOC. 3. The HELOC was subsequently sold to Specialized Loan Servicing. The account number is XXXX. 4. The payment amount due after the drawdown period ended ( the Second Payment Stream ) according to the signed Loan Agreement, dated XX/XX/XXXX, and the Transfer Letter from XXXX, dated XX/XX/XXXX, was to be 1.5 % of the outstanding amount per month which includes principal and interest. 5. I confirmed that the monthly payment of 1.5 % would include principal and interest with a loan servicer at XXXX named XXXX on or about XX/XX/XXXX. She, in turn, confirmed that with XXXX XXXX XXXX 's legal department. 6. The loan servicer at XXXX XXXX Mortgage also said that XXXX has historically and always calculated the monthly payment due after the drawdown period ends for interest and principal as 1.5 % of the outstanding amount. 7. Interest on this HELOC is pegged to the prime rate, currently 5.5 % per annum. On the outstanding balance of {$20000.00} that comes to {$3.00} per diem, or {$96.00} on a 31 day month. 8. At 1.5 %, the monthly payment on {$20000.00} would total {$300.00}. The interest breakout would be {$96.00} and the principal amount would be {$210.00}. 9. Specialized Loan Servicing, the new owner of the loan, unilaterally changed the terms of the Agreement. 10. Specialized Loan Servicing is now demanding that I pay 1.5 % of the principal due each month PLUS interest. 11. Thus, the monthly payment according to Specialized Loan Servicing would be {$300.00} PLUS interest of {$96.00} for a total payment due of {$400.00}. 12. This would be {$96.00} more per month due, creating an onerous additional payment and abrogating the original signed contract ( the Agreement ) and Transfer Letter.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-08-06

Soquel, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-08-06

Berkeley, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

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

Timely Response

2019-08-05

Belle Haven, VA

Closing on a mortgage

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

Complaint: I Have been under a chapter XXXX that was discharged on XX/XX/XXXX. The HELOC loan I have was with XXXX XXXX XXXX. I got a letter from them dated XX/XX/XXXX saying that they have sold my HELOC loan to Specialized Loan Servicing LLC and that they are taking over the loan on XXXX.I am suppose to close on my refinance on XX/XX/XXXX. I have contacted Specialized Loan Servicing daily for the past week and they can not provide a payoff amount yet and are now telling me that instead of XXXX which they originally said they could, now they are saying XX/XX/XXXX!! I also have not received a welcome package from them yet telling me where to send my payment due on XX/XX/XXXX if I end up having to make it, although XXXX XXXX XXXX did say I could get it to them and they would forward it to them. I am concerned about that because of all the bad reviews I see on SLS LLC, as far as them posting payments on time and then charging late charges on those payments that were indeed paid on time. I just want to be able to close my refinance on XX/XX/XXXX as we have planned and am hoping you can urge them to get my payoff amount sent to our loan officer. I can not believe they can't look up that information and get it done for me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-08-05

Mc Kinney, TX

Struggling to pay mortgage

Mortgage: Conventional home mortgage

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

Timely Response

2019-08-02

Jacksonville, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Hello, my name is XXXX XXXX XXXX, my wife 's name is # # # # # # # # # # # # # # # # # #. On XX/XX/XXXX, Specialized Loan Servicing received the final payout payment on our 15 year mortgage, account #. The payment was an automatic electronic debit from a XXXX XXXX checking account ( see line below, cut and copied from the electronic statement ) XX/XX/XXXX SPECIALIZED LOAN SPECIALIZE # # # # # # # # # # # # # # # # XXXX XXXX {$2000.00} Over a month after the final payout was deducted from our checking account, we received a letter in the mail with the letter head Specialized Loan Servicing Part of the XXXX XXXX , dated XX/XX/XXXX. The first two lines are as follows : " Dear XXXX XXXX XXXX & # # # # # # # # # # # # # # # # # # According to our records, the above-referenced mortgage account is delinquent. '' On Friday XX/XX/XXXX, my wife telephoned the listed XXXX number, and spoke to XXXX ( a representative of SLS on a recorded call ). XXXX informed my wife that the account balance had been received, but had not been applied to the loan. The balance was fully paid off and we were to receive an excess dollar amount from the escrow. And that we should probably receive the check first, and the deed would follow. On Friday XX/XX/XXXX, I received in the mail with the letter head XXXX Loan Servicing Part of the XXXX XXXX, dated XX/XX/XXXX. The first two lines are as follows : " Dear XXXX XXXX XXXX & # # # # # # # # # # # # # # # # # # According to our records, the above-referenced mortgage account is in serious default. '' On Friday XX/XX/XXXX at ~ XXXX, I telephoned the listed XXXX number, and spoke first to XXXX ( a representative of SLS on a recorded call ) prior to getting disconnected. On XX/XX/XXXX ( a few minutes after the disconnect ) I again telephoned the listed XXXX number, and spoke secondly to XXXX ( a representative of SLS on a recorded call ). XXXX informed me, she ( XXXX ) had no listing of my wife 's call on XX/XX/XXXX. But that XXXX had set-up and inquest into my account. I then asked to speak to a supervisor. I was informed a request would be sent to a supervisor. The supervisor would then telephone in 24-48 business hours. I was further informed although SLS call center is open on Saturday, it is not considered a business day. The complaint is not complex. My wife & I have fully paid off the 15 year mortgage on our house ( account # ). The payments were all on time ( automatic electronic deduction from checking ). 2 months later, we are being harassed by SLS with incorrect letters regarding default and foreclosure. In short, we want the deed to our property. Some party at Specialized Loan Servicing Part of the XXXX XXXX has dropped the ball regarding the resolution of this matter. Therefore, I am sending my complaint to CFPB. Thank-you for your time and attention.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-08-01

Chester, NY

Struggling to pay mortgage

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

Timely Response

2019-08-01

Lk Buena Vis, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: The Specialized loan Servicing, LLC ( " SLS '' ) took over my loan in XX/XX/XXXX and immediately began adding a unexplained {$15.00} " fee '' to my monthly payment. I ignored the unexplained fee and kept paying the amount due absent the fee. Subsequently, SLS added more fees and put me in default for not paying the fee. The last letter from them dated XX/XX/XXXX says " Notice of Default '' and " Intent to Foreclose '' although I am not even 3 months behind according to them. The worse part is it is not possible to get anyone on the phone to determine how much they are saying is due and what the fees are for. All you get is an option to " speak to a representative for a fee ''?!?!? This looks to me like another attempt to nit pick me into default and steal my equity. I had similar problems with XXXX XXXX, XXXX and now this SLS all on the same loan which each has took a turn trying to cheat me. I think when each sees I am not going to be an easy target they sell the loan to the next " shark. ''
Company Response: Closed with explanation

Timely Response

2019-08-01

Unity Plaza, CT

Struggling to pay mortgage

Mortgage: Conventional home mortgage

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

Timely Response

2019-08-01

OR

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I paid my XXXX mortgage payment on XX/XX/2019. According to their statement XXXX XXXX payments will be posted immediately. I went to XXXX which is a XXXX XXXX merchant and paid my XXXX payment knowing that my payment was supposed to be processed immediately and posted to my account to save me from a 30 day late on my credit report, I even confirmed the additional fee and the immediate posting of the payment with the clerk. No where on the statement and in the disclosure does the company state that weekend payments including XXXX XXXX payments will not be posted on the day received, but will post the following business day. I paid extra money for the immediate transaction for the immediate posting of my payment. I called in the next day, XX/XX/XXXX and spoke to XXXX ID # XXXX. XXXX took my transaction tracking number ( # XXXX ) issued by XXXX XXXX and assured that the payment would be posted on the account the day it was made, XX/XX/XXXX. I received notification through XXXX XXXX on XX/XX/XXXX stating that I had a 30 day late with my mortgage. I called the company and they stated that yes my payment wasn't received until XX/XX/XXXX even though their they have notification from the XXXX XXXX transaction of the payment date being XX/XX/XXXX, and that they would not back date the payment as promised. I spoke to XXXX ID # XXXX. I will be disputing the report with the credit agencies for a company who will not uphold to promises or fail to disclose information to their customers, and providing proof of the transaction being made and received on XX/XX/XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-08-01

Ft Belvoir, VA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: On XX/XX/XXXX I submitted an appraisal stating the value of my home is currently {$480000.00}, with the current mortgage balance of XXXX {$330000.00}. My lender SLS mortgage ( aka XXXX or specialized loan services ) has received the appraisal but refuse to acknowledge it and remove PMI. I have called multiple times including today XX/XX/XXXX but they give me different answers every time I call. One told me that we will receive a letter with a decision, and then Ill call again and theyll say I need to wait for the letter again, then the next person will say I need to fax an appraisal, next Ill be told it must be mailed to their PO Box XXXX another told me they only accept appraisals ordered from their contracted appraisal team. They repeatedly hang up on me and never have the same story of why I am still paying PMI. Im paying them nearly {$400.00} a month of PMI when it shouldve been removed. The Homeowners Protection Act of XXXX Requires lenders to have defined procedures, but they obviously do not.
Company Response: Closed with explanation

Timely Response

2019-08-01

San Jose, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Specialized Loan Servicing determined on their on accord that my escrow account was under funded and are now suspending my mortgage payments and reporting to the credit agencies that I am not making my monthly payments. They did not provide any justification for the means of determining that my escrow account was underfunded. My tax payments and insurance payments continue to made out the escrow account as the balance remains positive. In early XX/XX/XXXX I was contacted by SLS and told that my payments were late and asking me to confirm when I would be making my mortgage payment. Upon logging into my account I determined that enough money remained in my escrow account to pay my taxes and insurance. My mortgage payment is setup as an automatic bill pay. I did not send an additional payment. I was contacted again at the end of XX/XX/XXXX by SLS to discuss the issue. I scheduled a meeting with a manager to get an explanation for the increase. The meeting was XXXX XXXX onXX/XX/XXXX. I did not receive a phone call from them. They continue to harass me on a regular basis. They claim they are collecting a debt, but refuse to explain the means for determining the funding requirements for my escrow account. SLS is currently the defendant in a class access law suit for trying to force people to buy their insurance. It is my opinion that they are a predatory lender trying to manufacture foreclosures.
Company Response: Closed with explanation

Timely Response

2019-07-31

Castaic, CA

Communication tactics

Debt collection: Mortgage debt

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

Timely Response

2019-07-31

Cedar Mill, OR

Trouble during payment process

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

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

Timely Response

2019-07-30

Norcross, GA

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2019-07-30

Katy, TX

Incorrect information on your report

Mortgage: VA mortgage

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

Timely Response

2019-07-30

Struggling to pay mortgage

Mortgage: Conventional home mortgage

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

Timely Response

2019-07-30

Wilm, 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

Timely Response

2019-07-30

Norcross, GA

Trouble during payment process

Mortgage: Conventional home mortgage

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

Timely Response

2019-07-30

Struggling to pay mortgage

Mortgage: Conventional home mortgage

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

Timely Response

2019-07-30

Ft Charlotte, FL

Trouble during payment process

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

Complaint: This complaint is directed to Specialized Loan Servicing LLC also known as SLS associated with loan # XXXX. This has been an ongoing error and quite frankly very upsetting, which has not been resolved whatsoever. I have an 'approved ' loan modification with SLS , which was established in XXXX, XXXX and filed with my local county administration office ( See attachment ). I keep receiving letters from SLS ( XXXX ID : XXXX ) of the resolution dept., stating that I am requesting loss mitigation assistance and that my application is in review. Where she received that information is a complete mystery to me because I have never asked for any assistance. As stated above, I have been approved in XXXX, XXXX and have been making monthly payments ever since. I have talked to XXXX, ID : XXXX on several occasions and she assured me in our last phone conversation that this matter would be resolved on XX/XX/XXXX due to their 30-day cycling concerning their computer system. Well, that date has come and gone with no results whatsoever. The latest letter ( see attachment ) from XXXX is dated, XX/XX/XXXX stating the same error message about needing assistance. See attached letter dated XX/XX/XXXX from XXXX, ID : XXXX from the customer support dept. stating " my correspondence received on XX/XX/XXXX was initially 'coded incorrectly ' in our system. '' XXXX also states, " Please except our apologies for any confusion this matter may have caused. '' Whatever letter XXXX, ID : XXXX is referring to was totally misinterpreted by that department. Their administrative system is in need of an overhaul. There is no communication whatsoever between their departments. I would appreciate the Consumer Financial Protect Bureau help in this matter to get this problem resolved once and for all regarding Loan # XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-29

Wonder Lake, IL

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: To whom it may concern : I have a mortgage on my second home and I was reported to be 30 day late. I was in process of refinancing and moving to my second home so I made checks and mailed the checks from my primary home before I left. The mortgage company did not get my XXXX and XXXX check. I was given a notice on XXXX and this was the first time I got a notice that I recieved. This threw my credit off. I have enough funds that I can pay the entire balance off. It is very frustrating having to deal with this when I am always working to make my payments and everything within the timeframe needed to be paid. I expect a resolution of this situation as soon as possible. - XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-07-29

Homer Glen, IL

Trouble during payment process

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

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

Timely Response