Specialized Loan Servicing LLC

2019-02-13

MA

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: My mortgage with XXXX XXXX XXXX went into foreclosure in XX/XX/XXXX after my now ex husband was in a car accident that left him out of work for 6 mos. I applied for a loan modification. My original mortgage payment was {$2200.00} my modification offer came back at {$2000.00}, which I denied. I continued XXXX after month facing updated modification paperwork to them. Every single time, within 24-58 hours XXXX would show up with an envelope that had in it a list of what they ( XXXX ) was saying was missing from my paperwork ; it was not. I paid a company out of XXXX ( Owner XXXX XXXX ) $ XXXX/month for a year to help with the modification process, also paid him {$2500.00} cash to do what he said was a forensic audit on my original mortgage paperwork/transfer. He did nothing to help me, he simply took my money. After years and years of this, XXXX was sued for shredding customer modification paperwork and giving bonus to employees who did do. I took it upon myself to print the newspapers articles from the XXXX XXXX XXXX and The XXXX XXXX and faxed it along with my modification paperwork. My mortgage was then immediately sold to who currently holds my mortgage, Specialized Loan Servicing. I have requested a modification numerous times since XX/XX/XXXX and all three times Ive recd an offer right around the {$2000.00} mark. My house is now in serious disrepair. The roof leaks, windows are literally falling out, the ceiling in the back of my house has collapsed. Ive offered hundreds of times to pay no more than $ XXXX/month in order to save my house, and start to repair it. This was the house I grew up in. My grandfather bought this for my mom who is still here with me, but has been sick ( XXXX ) since XX/XX/XXXX. He bought this house in XX/XX/XXXX so that my mom and I would have a stable place to live. I bought it from my family in XX/XX/XXXX with the intention of keeping mom safe here until she passed, but nothing is cooperating. My house is all we have and if we lose it, mom will have to go into elder care through the state. Why do that if I can keep her here and take care of her. Anyway, this has been a long uphill battle and according to my research, it seems the SLS is doing the same stuff XXXX did. They currently have a Class Action Suit against them for unlawful modification practices.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-12

Van Nuys, CA

Struggling to pay mortgage

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

Complaint: I been trying for more than a year since my 10 year interest only note came do on the second mortgage I can not pay the whole thing and have been asking for a payment plan when I started this they told me not to pay anything till this got worked out .I did get my first mortgage modification done over a year ago and sill nothing and not they are trying to take my family home we have lived and payed on this home for more than 12 years now I mam XXXX years old and have been send them the same updated documents every month over and over again. Please Help
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-12

Streamwood, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-12

Heber Springs, AR

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My existing mortgage loan on my personal residence originated on XX/XX/XXXX. At that time, it was properly disclosed to me that Private Mortgage Insurance ( PMI ) was required on this loan. The Private Mortgage Insurance Disclosure that I signed stated that I could request removal of this PMI on XX/XX/XXXX. Also in this disclosure under " Automatic Termination of PMI '' at the bottom of the page, the form says, " ... PMI will automatically terminate on the date the principal balance of your loan is first scheduled to reach 78 % of the original value of the property. This date is XX/XX/XXXX. '' This commitment to automatically terminate the PMI is the crux of my complaint since the mortgage holder is currently refusing to honor this term of the contract although I fully meet all qualifications. See attachment titled " PMI Disclosure XXXX. '' On XX/XX/XXXX, my mortgage loan was transferred to Specialized Loan Servicing ( SLS ) as evidenced by the attachment " Mortgage Transfer to SLS Letter XXXX. '' On XX/XX/XXXX, I submitted a written request to SLS for removal of the PMI. In error, I referenced the original account number assigned at loan closing instead of the new number given by SLS. SLS stamped, " RECEIVED XX/XX/XXXX '' on the letter, crossed out the original loan number and wrote in the SLS loan number which indicates to me that they knew the loan to which I was referring. See attachment titled, " Original Request to Remove PMI XXXX. '' SLS responded to my XXXX request with a letter dated XXXX stating that SLS " no longer services the loan associated with this property. '' I believe that SLS knew this was not the case because they placed the correct loan number on their letter. To me, this was clearly an attempt by SLS to get me to drop the issue. See attachment titled " First Response to Request XXXX. '' I tried again on XXXX by submitting my second written request to remove the PMI. This time I listed the correct SLS loan number and included a copy of the Private Mortgage Insurance Disclosure given me at time of loan origination. See attachment titled " Second Request to Remove PMI XXXX. '' SLS responded to my XXXX request by sending me the attached letter named " Second Response to Request XXXX. '' In short, this correspondence says that they will only consider removing the PMI once a valuation is done on the home. These valuations are estimated in this letter to range in cost from $ XXXX {$800.00}. Considering that the PMI cost to me is {$54.00} per month AND knowing that my contract says that the PMI will automatically terminate on XX/XX/XXXX, I begrudgingly decided to not pursue the PMI termination before XXXX because it would cost me more than it would save. So, in other words, I decided to simply wait until XXXX at which time I believed the issue would resolve itself. When I received my statement from SLS for my XX/XX/XXXX payment, I noticed that the PMI figure of {$54.00} was still being billed. Thinking that surely this would be the last month that would happen due to the automatic termination on XXXX, I decided to not approach SLS at that time. Yesterday, XX/XX/XXXX, I received my XXXX billing from SLS which is attached titled, " SLS Current Billing for XXXX. '' In it, once again the {$54.00} for PMI was billed for the XX/XX/XXXX payment. I called SLS yet again last night and waited on hold for over 30 minutes. When I finally got through to a live person, they told me that PMI would not be removed until my loan balance reached 78 % of the original loan amount of {$250000.00} even though my loan documents say, " 78 % of the original value. '' If this were true - which it is not according to the PMI Disclosure - the PMI would continue to be build until I pay my loan down by {$21000.00}. At that point, my loan-to-value on my home would be at 70 % according to the appraisal completed in conjunction with this home loan refinance in XXXX of XXXX. A summary page from the appraisal is attached titled, " Appraisal Summary XXXX. '' My calculations show that continuing to pay SLS for PMI until I reach 78 % of the original loan balance ( not the property value ) would require me to make eighteen more payments of {$54.00} totaling {$970.00} more than I should have to pay. It should be noted that my loan with SLS has been, is and will remain completely current on all payments at all times. In summary, Specialized Loan Servicing has acted willfully to frustrate and ignore my efforts to remove the PMI requirement on my loan so that they may collect {$970.00} more from me than they are entitled. It would seem reasonable to assume that this company is successfully scamming many thousands of other unsuspecting consumers in this same manner. I hereby request the assistance of the CFPB to resolve this issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-11

MT

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: A previous complaint was lodged against Specialized Loan Servicing, and now another problem has come up. About 2 weeks ago I received a letter from the servicing company stating they were increasing my escrow payments by more that {$200.00} a month, and their own figures on the document did not show a need to increase the escrow payments Since I am required by my home insurer to pay the annual insurance in XXXX myself and that they will not accept the servicing company 's payment. I phoned and spoke to a customer service person with the servicing company and they said I could not speak to the escrow department and they would send them a message that I have to pay the home insurance myself in XXXX, and to figure that into new monthly escrow payments ; last week I received a letter from them stating I could not eliminate my escrow account, which I did not ask to do! I called and spoke to another customer service person and was told that is their final answer, and that even if the home insurer requires me to personally pay the annual policy, that they would require me to make the increased payments into my escrow account, adding more than and excess of {$2400.00} in my escrow balance that they would just leave in my account and not refund to me for the foreseeable future, which is against the law. Please help me! XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MT XXXX 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

2019-02-11

Bayville, NJ

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

2019-02-11

Edwardsville, KS

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My loan was previously being serviced by XXXX XXXX XXXX # XXXX. I began receiving communication that i was two months behind on my mortgage payments and, immediately, attempted to contact the servicing department to get clarification on the dates that were missed as I have ALL of my cancelled checks. I had asked, on numerous occasions, for them to provide the dates that they show were missed so that I could provide the correct documentation. On each occasion I was told that they could NOT provide a detailed payment history but they continued to send letters and report their information to the credit reporting agencies. On XX/XX/XXXX I received a letter that my servicer was being changed to Specialized Loan Servicing LLC. ( stating that any payments sent after XX/XX/XXXX should be sent to them - albeit sent 11 days AFTER payments should be sent to them ) On XX/XX/XXXX I started receiving letters, again, that I was " seriously '' delinquent on the mortgage. They were contacted, immediately, to request a payment history ( again ) so that I could provide the correct documentation. After I was told that they could not provide a payment history ( even though they would have received all of the documentation from my previous mortgage with XXXX XXXX XXXX ) they provided a payment history from XX/XX/XXXX to XX/XX/XXXX, with corresponding late charges. On XX/XX/XXXX I received a letter that they were going to begin foreclosure proceedings. THIS is in violation of the, most recently updated, RESPA servicing rules in that my mortgage would have to be 120 days delinquent in order to begin foreclosure proceedings. Not including the fact that the company must also provide loss mitigation options which I have never received AND do not need as I just need to know where they believe I became delinquent! In addition, ALL corresponding late charges and any, negative, reporting to the credit bureaus should be removed. This is a perfect example of why the RESPA rules were amended to assist consumers with servicing companies that continue to take advantage of them. Please feel free to contact me for further information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-10

San Diego, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My bank sent an automatic payment to the XXXX address on XX/XX/XXXX. Although you received it you returned it to me uncashed in XXXX Specialized counted it as a late payment and charged me a late fee. In late XXXX, I spoke with your customer service agent XXXX # XXXX and she agreed to drop the late fee of approximately {$45.00} in exchange for immediate payment, which I made that day. When the same late fee showed up on the next statement, I called and spoke with XXXX, who confirmed that XXXX had dropped the late fee but the system failed to record it and promised to drop it. Since then, I have been receiving statements that include late fees of varying amounts. Just one payment was late and thats the one both XXXX and XXXX agreed to waive. In XXXX, my bank sent an automatic payment of {$1000.00} short a legitimate {$3.00} increase for escrowed taxes. When I realized it, I combined the shortage with the most recent version of the late fee and sent a separate, clearly annotated check to pay {$52.00} to make up for the escrow increase and to pay the late fee I was told I dont owe so it would stop spiraling. Since XXXX, Specialized has included late fee charges of {$44.00}, {$41.00}, {$42.00} and {$41.00} in statements, when only one payment was late and that fee was waived twice by your staff. And I sent at least {$45.00} in the {$52.00} check to cover that spiral. The check was cashed on XX/XX/XXXX, see attached. I want a refund not a credit. And I want my statement to reflect the accurate monthly payment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-10

Tampa, FL

Trouble during payment process

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

Timely Response

2019-02-08

Moapa, NV

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I have made my mortgage payments on time. However I keep getting statements that my account is past due and this company is not applying my payments against my mortgage balance but instead they put them in a suspense account and add additional fees. I paid all amounts that were past due according to SLS website : I paid {$89.00} on XX/XX/XXXX, {$130.00} on XX/XX/XXXX, & XXXX on XX/XX/XXXX and all these were additional payments to my regular mortgage payments. But as of today my account still showing a past due amount of {$89.00} and i called multiple times for an explanation but they cant seem to explain this. I need to bring my account current. I need a full disclosure of what the added fees are and are they legal and why since my payments are always on time.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-08

Lyons, CO

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: I have a loan being serviced by Specialized Loan Servicing. They have caused me innumerable problems, but I will be focusing on just one here. Sometime during the summer of 2018, SLS send me a form letter informing me that they believed my home was " vacant '. I replied with the proper paperwork informing SLS that my home was indeed being occupied and they had the wrong/incorrect home/address. They started charging me XXXX XXXX " fees '' and other " fees '' for the unoccupied home. I was told, by a supervisor at SLS to contact " XXXX XXXX '' as they were the subcontractor that oversees this type of thing. I called XXXX and spoke with a woman who I can't recall her name., but she verified that my home had been " misidentified '' and that she would start the process of clearing it up. Meanwhile, I spoke with MULTIPLE supervisor at SLS who were antagonistic and hostile toward me suggesting that I was lying about said situation. Not surprised as SLS is a criminal enterprise, but I digress. I finally, after MONTHS, got a supervisor to assist me in this. His name is XXXX. He promised that he wouldn't kick the can down the road, but he did. I reached out to SLS executive XXXX XXXX multiple times to address the issue with NO response. They have been charging my account every month $ XXXX. I need someone to get to the bottom of this. Tired of being ripped off by this corrupt and criminal company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-06

Taft, OH

Struggling to pay mortgage

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

Complaint: To Whom It May Concern, In approximately XX/XX/XXXX my husband and myself filed bankruptcy. At which time we elected to continue to make payments on our home in XXXX, GA. We continued to make our mortgage payments and rent the home. In the summer of XXXX we proceeded to sell our home to our tenants of many years. The home was not listed at the time, because it was a private sale. Upon submitting the necessary documents we found out there was a second lien on the home from the original line of credit. At this time I contacted the lien holder XXXX and found out that it had been transferred to Specialized Loan Servicing. I contacted the company and found that even though we had been released from our personal obligation, the loan would have to be paid. With an additional amount of interest of nearly {$10000.00}. After weeks of negotiation we were finally offered a settlement for the principal amount. of {$16000.00}. The short payoff was given to us in writing on XX/XX/XXXX. However, the sell of the home was not finalized because the buyers withdrew 3 days before closing. This of course gave us an inability to pay this settlement. After, months of trying to sell the home again, listing it with an agent, we finally went under contract for the sale of the home again. Once again, I contacted Specialized Loan Servicing. At which time I again ask for a settlement, however once SLS realized that the house was under contract, I was told by them that they would not negotiate and that we would have to pay the full amount. I was also told that they of course could foreclose ( an intimidation tactic, I'm sure-because they would more then likely end up with nothing ) I spoke with the rep and supervisor, both telling me the same thing. On no level of professional business practice should this occur with anyone. The only reason they are not willing to negotiate just 7 months later, is because they are now aware of the sell of the home, and can try and get the principal and interest from us. The intimidation and lack of professional business practice makes this unfair to my family and any consumer. Again the only difference from the end of XX/XX/XXXX and XX/XX/XXXX is the fact they they were aware of the home sale.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-05

Washington, DC

Written notification about debt

Debt collection: Mortgage debt

Didn't receive enough information to verify debt
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-05

Bohemia, NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: My house is scheduled to be auctioned off on XX/XX/XXXX. I tried my best to get a Loan Modification for over 7 Years. It was a marathon effort starting way back in XX/XX/XXXX, with the servicer - XXXX. I submitted tons of documents and XXXX kept on rejecting the Modification for one frivolous reason or the other. I was in fact asked to take the other Loss Mitigation option - Short Sale Now the new Servicer is " Specialized Loan Servicing '' ( SPS ). I have submitted a complete Short Sale Package and requested SLS to postpone the auction and allow time for the Short Sale to be processed. However they are not willing to do that. Hence this request through your good selves, so that I can avoid the Foreclosure stigma in my life and my credit report.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-02-04

San Francisco, CA

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Account information incorrect
Company Response: Closed with explanation

Timely Response

2019-02-03

Glen Cove, NY

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

2019-02-01

Reno, NV

Attempts to collect debt not owed

Debt collection: Mortgage debt

Debt was already discharged in bankruptcy and is no longer owed
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-01-31

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

2019-01-31

Cleveland, OH

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

2019-01-31

Colts Neck, 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

2019-01-30

NJ

Trouble during payment process

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

Complaint: On XX/XX/XXXX, I contacted Specialized Loan Servicing ( SLS ), my home equity servicing company to request a loan payoff. I was emailed the payoff which had a payoff date of XX/XX/XXXX. On XX/XX/XXXX I wired the amount requested on the payoff as instructed in the letter and was under the impression that my loan was satisfied and paid in full. On or about XX/XX/XXXX, I received a call from SLS, stating that the payoff amount was incorrect and they need an additional {$4000.00} for attorney fees that I was not aware of. I told the representative that I would need to speak with my attorney and if they could provide me with an invoice showing what the additional charges were for. I requested to speak to a supervisor and was told that one would give me a call back in 24 to 48 hours. I did receive a call from the supervisor and was told the same thing about the attorney fees. I explained to him that it is not my fault that they ( SLS ) issued the incorrect payoff letter and now I was being penalized for their error. Needless to say, with the holidays and I could not afford the additional {$4000.00} and notice that on XX/XX/XXXX a deposit was made into my bank account for the amount I originally wired on XX/XX/XXXX. When I called SLS to complain again on XX/XX/XXXX they were no help and gave me the attorney 's contact information to get an invoice. I spent over 2 hours on the phone with no resolutions. I told that a new payoff letter was mailed to me on XX/XX/XXXX with a payoff date of XX/XX/XXXX, which is impossible considering that it takes more than 2 days for delivery of mail. I finally tried to get a new payoff letter from them and was told that they can not email payoff letters, which they did on XX/XX/XXXX and I would have to wait for the mail. As of today and almost 2 weeks, I still have not received the payoff. I reviewed a statement that they sent me and it shows that for the entire month of XX/XX/XXXX they charged me interest against the loan even though they received my wire on XXXX and kept it until XX/XX/XXXX, causing me to loss interest while they charged me interest against the loan. This is completely unacceptable that they can charge me interest wile holding my funds for 11 days with me losing interest. I spoke to representative on XX/XX/XXXX and she was of no assistance informing that they never applied the funds to my loan so they can go ahead and charge me interest since the funds were never applied.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-01-30

Brentwood, NC

Applying for a mortgage or refinancing an existing mortgage

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

Complaint: Specialized Loan Servicing LLC has forwarded a 1098 Mortgage Interest Statement without providing proof of chain of custody. SLS on the attachment is misrepresenting this unmerited debt by stating that my balance is {$13000.00}. I am confused about these statements from SLS stating I owe them because they are my creditor per the documents attached. I never executed documents with SLS. Most importantly SLS refuses to furnish documents of ownership thru chain of custody. I can not and will not include these documents and number on my tax returns. I DO NOT OWE THIS DEBT STATED AND SLS AND AFFILIATES DO NOT OWN THIS DEBT. SLS and affiliations has placed a lien on my property without any standing to do so.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-01-30

Catalpa, VA

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

2019-01-30

Newport, TN

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: Notified my mortgage lender several times in XXXX that past payment history has not been updated since XX/XX/XXXX. Both XXXX and XXXX shows account is in " Good Standing '' but payment history does not show all payments made from XX/XX/XXXX to XX/XX/XXXX. Also shows 37 payments being late, which is incorrect. Lender agreed in XX/XX/XXXX by official letter attached to update my reports due to a mistake they had made on an agreed payment plan from XXXX thru 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

2019-01-29

FL

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