Specialized Loan Servicing LLC

2017-08-31

FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Our mortgage was supposedly sold from an existing XXXX trust to another trust. XXXX XXXX XXXX. i was not notified of this transfer for over 90 days. At that time I requested proof of sale and a certified copy of my note as well as any assignments and or allonges.I have made this request over 5 times and I have never received any notoriety or certified copies of my notes sale.I did find an assignment datedXX/XX/XXXX from XXXX XXXX XXXX to XXXX XXXX XXXX, however XXXX was a defunct corporation at that time and I feel this is an illegal assignment clouding my mortgage. Specialized Loan Servicing has refused to provide my proof of sale of my mortgage or any substantiation of their right to service and become a debt collector of my note. I believe they as a Collection Company are acting without legal rights or possession of my loan note as the Debt collector. I have sent Certified mail requests for my note and all endorsements and continue to not be supplied such.They continue to damage my credit without rights 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

2017-08-31

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

2017-08-28

Belville, NC

Trouble during payment process

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

Complaint: Atten : Specialized Loan Servicing Please verify and confirm that the Note Custodian you refer to in previous communications through the CFPB as holder of Original Documents for XXXX XXXX XXXX Home equity line agreement and Disclosure statement is " RECON TRUST ''
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-08-27

New Bedford, MA

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

2017-08-25

Csi, ID

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

Timely Response

2017-08-25

Lakeland, FL

Closing on a 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

2017-08-25

Leeton, UT

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Specialized Loan Servicing : Loan # XXXX, XXXX and XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, UT Our loan servicing company was transferred to Specialized Loan Servicing within the last 6 months to a year. We have consistently made our payment on time and in the exact same way each month, through our bank ( XXXX ) online bill pay, which sends a paper check. OnXX/XX/XXXX, we received a notice dated XX/XX/XXXX from Specialized Loan Servicing that our loan was delinquent. We knew that we had paid on time and had not missed any payments, so we verified with our bank, where we found proof that each mortgage payment check for {$950.00} had been cashed and received on time. We then looked at our account on the Specialized Loan Servicing website and noticed that for some reason, we were not given credit for ourXX/XX/XXXX payment, which, according to our bank 's records was cashed on XX/XX/XXXX. While we paid our XX/XX/XXXX payment on time, they applied it as if it were a late XX/XX/XXXX payment, and are now saying that our XX/XX/XXXX payment is delinquent. They are sending us delinquency notices and have added late fees to our account. I have not checked, but I assume they have also reported our payment as late to the credit reporting agencies, and damaged our credit. In an attempt to resolve this quickly, on XX/XX/XXXX ( the same day I received the notice ) I called the number listed on the notice to explain what happened and to send them proof that we made a payment. The person on the phone gave me an email address to send proof to, which I immediately did. She then informed me that she had opened a case and it could take until XX/XX/XXXX for them to investigate to see what happened. I asked if, in the meantime, the debt collection notices and negative credit reporting would continue, and she said yes, it would continue and that they could not stop it until they had investigated the issue. I then escalated the call to someone else, who said he would look to see if he could find the payment in the system. After about 20 minutes he said that he could not find it, but that they would investigate further. I asked why someone could n't just look at the email I just sent with proof, and resolve the issue, and he said that it can take up to 48 hours for the information to upload so he could n't look at it. I again asked for the company to cease all negative credit reporting and notices since this was their mistake and we did not do anything wrong, and he said " how do you know its our mistake and not yours? '' I stated that I know it was their mistake because the money was taken out of my account, and I have proof, which I had already sent to them. When I ( regrettably ) became upset, he told me he needed to get off the phone with me because he had lots of other customers in the same situation as me, which tells me that this is a common occurrence at their company. We feel that this issue would probably be resolved eventually without intervention, but are concerned about the time and effort their mistake is costing us to correct, and more importantly, the hit this will be to our credit, and time and effort it will take to resolve this issue with our credit companies. We do not want this drug out and our credit damaged in the process. To be thorough, I have attached proof of ourXX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX Mortgage payments, all of which were paid on time and in the exact same way. Our ideal resolution would for Specialized loan servicing to quickly correct the account and all interest and late fee charges, and to provide a letter stating that we made our payment on time and that the negative credit reporting was due to a clerical error.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-08-23

MA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: SLS mortgage provider is servicing two of my loans. On one of the loans they 've lost a payment for the month of XXXX 2017. I did send a payment and have a cached check image on file with my bank. SLS have received payments for both loan accounts for all other months - not a single missed payment. SLS also received payments for the month of XXXX - on both accounts. Yet they 've put my account into delinquent state - not giving me a courtesy call or a grace period to react to the XXXX statement and realize that XXXX payment on one of the accounts was not posted. I have provided SLS with an image of a cleared check, all the data necessary to prove that payment was received by them, yet I 'm still in delinquent state. I 've recently located the funds too and called their customer service to explain that they mistakenly posted the payment to the other loan account that I have with them. Their response is that the delinquency will be removed once funds are transferred to the correct account. Their original quote was 60 days to handle this issue. Now I 'm getting a quote of at least 10 business days to transfer money to the correct loan account. I 've asked SLS if this delinquency has been reported to my credit history and they confirmed that it has even though consumer should have 60 days to appeal any financial issues prior to being reported to the credit bureau. I would like the poor service provided by SLS to be reflected on their public rating and record. I would also like to make sure that their mistake does not get reflected on my credit history - neither now nor several months down the road.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-08-22

Stkn, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: SLS is my loan servicer that was tranferred from XXXX XXXX XXXX. In XX/XX/XXXX I filed a Ch.XXXX bankruptcy on XX/XX/XXXX our bankruptcy was paid in full and discharged. On XX/XX/XXXX I recieved a letter from SLS stating that we were late on our mortgage payments. I contacted SLS and XXXX XXXX XXXX on XX/XX/XXXX. SLS says the loan came to them behind on payments. XXXX XXXX XXXX says that we still owed fees from the bankruptcy and they collected the fees in XX/XX/XXXX after we recieved a modification. I would like to get a complete payment history from SLS and XXXX XXXX XXXX We successfully paid the terms of our Ch.XXXX they ca n't come back and say we owe money. I would like to get this matter resolved.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-08-21

Stevenson, MD

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: Based on my knowledge, we notice alot of violations in regards to my loan and Who owns my loan to pay off a alleged debt with the previous servicer, who is now under investigation ( XXXX XXXX XXXX ) and not license in Maryland under the MD Commissioner Finance office. to collect a debt from a third party. later discover the alleged loan was transfer to XXXX XXXX XXXX. I ven sent off the dispute letters to send to the servicer/ third party debt collector. my payment was returned. and later applied for modification which clearly was denied numberous times under hardship circumstances. I would like to entire loan to investigated due to preditory lending, truth n lending, Respa.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-08-21

Malden, MA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2017-08-21

Macon, GA

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

2017-08-17

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

Timely Response

2017-08-17

Colts Neck, NJ

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I contacted my loan servicing Specialized Loan Servicing on XX/XX/XXXX, to request the identity of the investor of my loan. We were told the request had to be in writing, and were given a fax number to submit the request to. The fax was sent at XXXX PST on XX/XX/XXXX. We were told to allow 24-48hrs for the request to be updated in their system in order to get the information. I called them on XX/XX/XXXX to follow up, and was told the information we had been given previously was incorrect and, per their policy and at the lenders request the information would not be provided for 30 BUSINESS days. According to the CFPB website : " If the request asks for the identity and address of the investor ( owner of the loan ), the servicer must provide this information to you within 10 business days of receipt of the request '' Additionally, each person we spoke with ( 3 so far in total ) are all rude, combative and obstructionary. It 's evident they have all been trained to not give any sort of help, information or guidance when it comes to information about the lenders, like it 's some big secret.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-08-16

Tallahassee, 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

2017-08-16

La Cienga, NM

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

2017-08-16

MD

Closing on a mortgage

Mortgage: Other type of mortgage

Complaint: I few weeks ago I was in discussion with a couple of my friends and related that I thought that I had been treated a little unfairly by my HAMP mortgage holder, Specialized Loan Servicing. They told me about Consumer Financial Protection Bureau and that you help and protect consumers who may have a disagreement with their financial institutions. So I have decided to contact you. In XX/XX/XXXX I applied to XXXX XXXX for a HAMP loan which was completed and sent to the bank. On XX/XX/XXXX I faxed an appeal to XXXX relating that I had misunderstood the directions on the Hamp application. I had checked off both owner-occupied and second home which I should not have. I 'm the sole owner of the HAMP property ( located at XXXX XXXX, MD ) and co-owner of another condo and my mindset was in order to be as thorough and honest as possible with information, I somehow had to show both properties. My mistake in not fully understanding the HAMP form requirements. I explained that I spend 4 to 5 days a week or more at the XXXX XXXX property. I have XXXX XXXX and have had a XXXX XXXX XXXX, the salt air at XXXX XXXX is beneficial and therapeutic for my medical well being and my occupation allows me the benefit of being able to work during my time there. Therefore under HAMP rules this should be considered a primary residence. I have attached that appeal and the related Hamp application. Reason number one is the item in question and reason for this correspondence to CFPB, reason number 2 has been resolved with the bank. I then called XXXX to inquiry about my appeal, they said that the loan had been sold to Specialized Loan Servicing ( SLS ) and I would have to take up the situation and appeal with them when the loan is fully transferred. When I received official notification of the transfer, I then faxed the same appeal documents to SLS. I then later asked SLS about the status of my appeal and was send a letter of denial on XX/XX/XXXX. The letter indicated that my original appeal with XXXX had been denied and SLS was holding to that decision. But that was not truthful and very discerning because of my knowledge of my prior conversation with XXXX and the fact that I never received a letter of denial from XXXX. Please keep in mind that my loan was still in process and not completed or approved as yet, letter is attached. The consequence of all this is that the {$82000.00} principal was deferred rather than forgiven based on my application error which I attempted to correct very early in the approval process. My husband and I are both on social security and I believe that I am rightly deserving of a reversal of SLSs decision. I understand SLSs desire to keep the money in deferred status for financial reasons but my understanding is that HAMP was created to assist the borrower not the banks. I give my permission for XXXX XXXX, my husband, to ask and answer any questions in this matter. Thank you, XXXX XXXX XXXX SLS Loan # XXXX
Company Response: Closed with explanation

Timely Response

2017-08-16

ME

Trouble during payment process

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

Complaint: I am currently in a chapter 13 bankruptcy. I have paid my HELOC through my bill pay every month on time. My XXXX payment was refused. I called my bank to ask why and they could only tell me SLS refused it. I called SLS to see if it was an error and I was told it was not. I was told I had to mail in payments even though they have an electronic relationship with my bank because I am past due. I asked them how I could be past due and they advised me my payments changed to almost double in XXXX due to the HELOC resetting. My attorney nor the Trustee were notified of a payment change. My attorney states they are required to notify the court per bankruptcy rules. Now I owe my XXXX payment, XXXX payment and soon coming XXXX payment. I am holding off paying them until the Trustee advises my course of action.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-08-16

Belville, NC

Trouble during payment process

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

Company Response: Closed with explanation

Timely Response

2017-08-16

Asheville, NC

Attempts to collect debt not owed

Debt collection: Mortgage debt

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

Timely Response

2017-08-15

Denison, TX

Incorrect information on your report

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

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

Timely Response

2017-08-15

Charlotte, NC

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

2017-08-15

Cocoa, FL

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: My loan was service transferred from XXXX XXXX XXXX to specialized Loan Servicing over a month ago. Since my loan is in the state of my deceased mother they have not spoken to me about the loan even though I have on multiple occasions emailed and faxed over the documentation showing the estate awarded to me and on the Executor of estate. Also XXXX XXXX XXXX should have transferred this information over as well. There is an issue with my escrow account and nobody will talk to me about it even though I keep sending them the proper documentation so they can speak to me. At this point it 's costing me more money from them because there appears to be forced placed insurance in addition to my regular insurance and I ca n't speak to anyone about it to get this rectified.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-08-14

Alexandria, VA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Reinstatement of complaints # XXXX and # XXXX Closed by your agency without resolving the issue that SLS increased my mortgage payment to {$2400.00} illegally, after receiving {$300.00} to cover an escrow shortage to avoid an increase in the mortgage monthly installment. As stated in my first and second complain per SLS response to the agency on paragraph four of their XX/XX/XXXX, they conceded that they received on XX/XX/XXXX the escrow shortage of {$300.00}. Their XX/XX/XXXX letter instructed me to pay the shortage of {$300.00} to maintain the payment of {$2400.00} for P & I and Insurance ( P & II ) or opt to accept a higher monthly payment of {$2500.00}. Their XX/XX/XXXX letter instructed that if I opted to pay the lump sum I had to pay separately the {$300.00} from the P & II of {$2400.00} to avoid an increase in monthly payment to {$2500.00}. Following their instructions, I opted to pay separately the lump sum of {$300.00} to cover the escrow shortage and paid the {$2400.00} to cover the P & II. Again in paragraph four of their XX/XX/XXXX letter they conceded that they received the escrow shortage payment separate and the payment of the P & II separate both within the grace period for the payment at issue in XX/XX/XXXX. I followed their instructions, if they allocated the money incorrectly is out of my control. The issue here is that once I paid the escrow shortage in a lump sum of {$300.00}, my P & II was supposed to stay as {$2400.00}. Please see the attachment of their XX/XX/XXXX in which SLS asked for {$300.00} for an escrow shortage. At that time my payment was {$2400.00}. To aovid the monthly increase, I paid and they received {$300.00} escrow shortage within the grace period on XX/XX/XXXX, the grace period extends to the XXXX of each month. However, the monthly payment was increased to {$2500.00}. and then adjusted to {$2400.00}. What justify the increase? SLS have not explain that, SLS only states that my monthly payment is not {$240.00}. I refute that, once I paid the escrow shortage, no increase in monthly payment is legal nor justified. However, SLS is still raising the P & I to {$2400.00} from {$2400.00}. In addition, SLS is requesting as collectible {$87.00} to satisfy shortage alleging that I underpaid because I paid {$2400.00} in XXXX. This is incorrect. Once I timely satisfied the {$300.00} escrow shortage on XX/XX/XXXX, the P & II payment is suppose to stay at {$2400.00}. SLS does not dispute that they received the escrow shortage of {$300.00} and have not explained the increase of the monthly mortgage installment. The lump sump was specifically to cover any escrow shortage and avoid increase in the monthly mortgage installment. In addition, SLS embarks in predatory lending with an interest rate at 7 %. For years I have tried to lower my interest with them specially during the time that the interest rate was less that 3 %, but they refused. I am XXXX XXXX veteran, I have very good credit, I need your help. I 'm looking forward to hear from you and please do not close the complaint before resolving the issue in my favor. I may be reach at 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

2017-08-14

Weston, CT

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: Specialized Loan Servicing did not follow the appropriate rules and regulations governing approving the Deed-In-Lieu of Foreclosure requested and denied the request and forcding a foreclosure on the property. We previously had to request assistance from the CFPB to assist us with SLS and the original Loan Modification. We are requesting assistance to have SLS approve the Deed in Lieu of Foreclosure request. Referenced regulations : On XX/XX/XXXX, XXXX XXXX issued an Announcement ( XXXX ) requiring servicers to protect the priority of the mortgage lien and to clear all liens for delinquent homeowners association ( HOA ) dues and condo assessments, on properties acquired through foreclosure or deed-in-lieu of foreclosure. The Policy changes specified in this Announcement are effective XX/XX/XXXX but servicers are encourages to implement them as soon as possible. Servicers must follow the policies outlined on this announcement for all conventional mortgage loans held in, or purchased from XXXX XXXX portfolio but securitized in XXXX pools, or have special or regular servicing option, or a shared-risk XXXX pool with XXXX XXXX or Servicer marketing the acquired property, or other loans sold to XXXX XXXX under recourse or other credit enhancement arrangements. XXXX XXXX XXXX are required to advance funds when notified by an HOA for a PUD or condo project that borrower is 60 days delinquent in the payments, or charges levied by association inorder to protect the priority of XXXX XXXX mortgage lien. Reimbursements for such advances may be provided to the servicer for up to 6 months in certain states. In addition, Servicers are currently required to ensure any priority liens for delinquent HOA dues and assessments on acquired properties are cleared immediately, but no later than 30 days after the foreclosure sale or acceptance of a deed-in-lieu of foreclosure. Servicers must take steps to protect the priority of the mortgage lien for properties located in states providing priority for assessment liens over a previously-recorded mortgage document. Servicer must determine the amount to be paid in order to clear the associations claim of lien when pursuing foreclosure. The amount is generally the lowest of : The actual delinquent assessment balance and allowed costs The maximum amount due from the foreclosing first mortgage entity based on the provisions in the projects declaration, or under the relevant state statute. The servicer must pay this amount immediately following, but no later than 30 days after, the foreclosure sale date or acceptance of a deed-in-lieu of foreclosure. Clearing the priority lien within this time frame ensures XXXX XXXX lien position is preserved and costly delays are avoided when selling the property. XXXX XXXX is revising the reimbursement policy to servicers for the advances made. If an association refuses to release its claim of lien against a property for the amount determined to be the obligated amount after reasonable efforts to reach agreement, the servicer or its foreclosure attorney must contact the XXXX XXXX legal department for further guidance. All other requirements provided in the associated sections of the Servicing Guide remain unchanged. Servicer responsibilities in regards to acquired properties are outlined on the Servicing Guide and as required by applicable state law. Non-compliance with XXXX XXXX policy regarding delinquent HOA dues and assessments may result to repurchase, make whole or indemnification. Servicers should contact their Servicing Consultant, XXXX XXXX or XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX at XXXX ( XXXX ) with any questions regarding this Announcement. As per New York Department Financial Services XX/XX/XXXX Letter, DILs are well-accepted loss mitigation alternatives to foreclosure and have been incorporated into most servicing standards. XXXX XXXX and HUD both recognize that DILs may be beneficial for borrowers in default who do not qualify for other loss mitigation options. The federal Home Affordable Mortgage Program ( HAMP ) requires participating lenders and mortgage servicers to consider a borrower determined to be eligible for a HAMP modification or other home retention option for other foreclosure alternatives, including short sales and DILs. Likewise, as part of the Helping Families Save Their Homes Act of XXXX, Congress established a safe harbor for certain qualified loss mitigation plans, including short sales and deeds in lieu offered under the Home Affordable Foreclosure Alternatives ( HAFA ) program. Nothing in this letter affects the responsibilities of a mortgage loan servicer, including one that is an Exempt Organization, with respect to residential mortgage loan delinquencies and loss mitigation efforts under Part 419 of the Superintendents Regulations ( Business Conduct Rules for Servicing Mortgage Loans ).
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response