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 76
2017-06-02
Desoto, TX
Closing on a 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
2017-06-02
CA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: In XXXX 2016, we were having trouble making payments on our loan from Specialized Loan Servicing as the payment went up by a {$1000.00}. Our monthly payment went up from XXXX to XXXX . We requested a loan modification and were finally approved in XXXX 2016 after months of being given the runaround. Once we were approved for a loan modification we did 3 months of trial payments for about XXXX . Once we got the official agreement, the payment went to {$2700.00}. Basically, we are back at where we started and ca n't afford that payment. Their customer service tends to be rude. XXXX XXXX sold our loan to SLS and ever since then we have had a lot of problems. I feel like they tricked us and gave us temporary relief with the trial payments we could afford and then when it was time to make if official the payment went way up again. How does this even make sense. We are very frustrated with the process and not sure what approach to take next.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-06-02
Plymouth, FL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Mortgage Servicer, Specialized Loan Servicing ( SLS ), is employing unfair, abusive and deceptive practices. I am an XXXX XXXX year old Veteran of the XXXX XXXX I have lived in my current resident since 1996. The debt on the mortgage has been serviced adequately and timely prior to my current situation. A simple analysis of the account record will attest to that. While I have retirement and limited other income, my entitlement benefits have been interrupted. Once the benefits are resumed the, mortgage debt will be adequately covered. SLS knew I was XXXX yet they served foreclosure complaint at my resident in an attempt to make it difficult for me to response within the 20 day statutory limitation. SLS has not participated in the loss mitigation process in good faith. Disparate financial treatment is not a part of my sentence. SLS filed residential foreclosure action while in loss mitigation review. After a request to the court for mediation, SLS falsely informed the court that no active loss mitigation us being reviewed and went on to falsely indicate that loss mitigation was denied. Contrary to the Loan servicer 's claim, loss mitigation is on going which is evidenced by continuous written correspondence with SLS. While there has not been a denial, requests for SLS foreclosure prevention options and request for mortgage assistance have been declared incomplete or stale or in need of resubmission without comprehensive explanations. In the months leading up the foreclosure complaint I tried to work things out through mediation. Requests for mediation were rejected. SLS appear to be participating in a sting or scam. They are stringing me along with false hope of loss mitigation while proceeding with foreclosure. I would like to keep my home plus I have equity in the house and I deserve to get the equity. The tactics being employed by SLS is designed to deprive me of the house and the equity. What normally happens in the industry is that, the mortgage holder will buy the property at the foreclosure sale for a hundred dollars ( {$100.00} ). As such, leaving no after sale credit for the home owner. In effect, cheating the homeowner of deserved equity.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-06-01
Mill Valley, CA
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
2017-06-01
Bohemia, NY
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-06-01
MD
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have been trying to get a short sale approved and closed for the past two ( 2 ) years, since XX/XX/XXXX, after failing to be approved for a loan modification despite my valiant attempts to do so for the preceding two years, since XX/XX/XXXX. I would have rather kept my home, but when they refused, I then tried to at least avoid foreclosure. <P/>I know have four ( 4 ) offers, one that is all cash and one that is for more than {$15000.00} higher than the bank valued the house for, but they would rather foreclose on me than approve the short sale. This is why I need the CFPB 's assistance. <P/>I owe approximately {$220000.00} on a property that is today worth {$140000.00} per the most recent appraisal. I am underwater by at least {$80000.00}, and the house is need of a significant amount of repairs, at least {$30000.00} worth. <P/>The following are the challenges that I have experienced trying to avoid foreclosure via a short sale. I now have only seven ( 7 ) days left to avoid a foreclosure. Only today did I learn that I could be assisted by the CFBP. As bleak as it is, I am committed to doing all that I can to avoid foreclosure. <P/>1 ) I had XXXX mortgages, a first and a second. XXXX serviced by the same lender, XXXX XXXX ( prior to SLS taking over ). My mortgage servicing was initially with XXXX XXXX XXXX ( XXXX 's XXXX XXXX ), but was transferred to Specialized Loan Servicing ( SLS ) at the end of last year ( XX/XX/XXXX ). <P/>In XX/XX/XXXX, the 1st mortgage approved the short sale, but the 2nd mortgage did not. Reason? They wrote me stating that they had determined that I was too far underwarter for the 2nd to recover anything. They were, therefore, going to release the 2nd mortgage lien. Good news! Or so I thought. <P/>The 2nd mortgage release was never forthcoming from XXXX XXXX XXXX XXXX XXXX department. Instead, the 1st mortgage ( keep in mind it was the same company ) denied my short sale because I did not close in time ( because we needed the 2nd mortgage release to be able to actually close. Everything was ready for the closing. ) Classic entrapment, because I need them to approve the short sale for XXXX the 1st and 2nd mortgage, not just one of them. And they had in fact stated in writing that the 2nd mortgage would no longer require consideration for a short sale because they were instead going to release the lien. But they never did. Instead, the referred me to foreclosure. <P/>Before the foreclosure could take place in XX/XX/XXXX, the XXXX XXXX banking scandal broke. At the same time, I was petitioning through all known avenues, including elected officials. They finally agreed to postpone the foreclosure and review the case. <P/>2 ) Prior to resolving the issue, XXXX XXXX transferred the servicing of the 1st mortgage to SLS ( Specialized Loan Servicing ) at the end of XX/XX/XXXX. I was then advised by SLS that as they were a new company, I had to begin the process over completely as though I had never before applied for a short sale. This meant I had to re-list the house for sale, wait for new contracts, and the whole long and drawn-out process. <P/>a ) Despite my protests and sending documentation proving they were overvaluing my house, SLS insisted that the value was {$180000.00}. Against the advice of all experts, I had no choice but to list it for that amount. In the in interests of time ( I had a postponed foreclosure sale hanging over my head ), I sent in the paperwork as soon as I received an offer. They denied it saying it was too low below the unrealistic $ XXXX value. <P/>b ) I kept appealing and by XX/XX/XXXX, SLS consented to do a 2nd appraisal on XX/XX/XXXX. This time the value came in at $ XXXX - still high, but much more realistic than the previous $ XXXX. I called them and asked if they would permit my brother to buy the property at that price ( I was running out of time, and once again, the foreclosure had barely been postponed ). They said yes, subject to their investor 's approval given my up-front disclosure that this was not an arms-length transaction. I submitted the paperwork. <P/>After taking a month to review with no response from them, I called SLS only to be informed that they were not even considering the offer because it was my brother. That this was against company policy - never mind that I had called the same company ( SLS ) a month prior and been advised exactly the opposite. By this time, we were now towards the end of XX/XX/XXXX. <P/>c ) I appealed yet again. I was then advised to re-list the property and send in the new offer I received. Keep in mind that I do not control how long it takes offers to come in, and the clock is ticking. I submitted the first offer I received - all cash, no contingencies. On XX/XX/XXXX, SLS did a 3rd appraisal. This time the value came accurately at $ XXXX for a quick sale, and $ XXXX for a sale in 60-90 days. <P/>NOTE : For all these appraisals, the property condition remained unchanged. It was merely an issue of accuracy and paying attention to the facts that had been made available to them. So the truth of the matter is that the XX/XX/XXXX appraisal is what should have always been done. It took them 3 tries and more than 6 months to finally get it right. The whole time, they were postponing the foreclosure in 30-day increments. <P/>All the above brings us to where I am today : I have sent SLS two contracts : One is an all-cash sale for $ XXXX ( quick sale ), and the other is with a mortgage buyer for $ XXXX ( regular sale ) to mirror how they valued my house. The 2nd offer is more than {$15000.00} higher than the current value of the house. <P/>However, SLS has now taken the position that too much time has passed ( please note that I have n't been the cause of delay ), and that they will not even consider the offer as the foreclosure sale date is now XX/XX/XXXX. Please note the following observations : i. SLS has been postponing the foreclosure sale date by 30-day increments this entire time. Should they desire, they can postpone it again. <P/>ii. At no point in time did SLS inform me of a deadline or cutoff by which they would need to have received the offers in order to consider it. Therefore, refusing to consider multiple, bonafide offers because of the time left borders on entrapment once again. <P/>It is grossly unfair to enforce a deadline that was never communicated. By definition, it is not a binding deadline. It is unilateral and arbitrary action with the worst of consequences for my interests.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-31
Council, NC
Trouble during payment process
Mortgage: Home equity loan or line of credit (HELOC)
Complaint: To the attention of Specialized Loan Servicing : # XXXX After man y attempts to resolve the issues that have been submitted in prior complaints, there has been no effort or attempt to investigate or look into the issues we have brought to the attention of Specialized Loan Servicing ( SLS ). I have informed you that these documents alleged to be my loan agreement are not the papers I signed at any time. So it stands to reason you have no authority from me or my wife to be collecting o n papers I did not authorize. PLEASE NOTE TH AT ALL PAST, PRESENT AND FUTURE PAYMENTS ARE MADE AND HAVE BEEN MADE TO PROTECT US FROM HARM AND ARE MADE UNDER PROTEST AND WITHOUT PREJUDICE.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-31
Bohemia, NY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My loan was tran sferred to Specialized Loan Servicing in XXXX XXXX . SLS h as failed to honor the payment amount that XXXX XXXX had in place while they serviced my loan. My payment amount was {$2600.00}. SLS says that my payment is over {$2600.00}. This is clearly wrong. <P/> In addition, XXXX XXXX ran an escrow analysis in XXXX XXXX , and my payment adjusted. When the loan transferred , SLS failed to honor the escrow analysis, and ran another analysis. The payments increased again, and I was given limited help in having this issue rectified.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-30
Wonder Lake, IL
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I am trying to process a short sale with SLS. On XXXX XXXX , XXXX , I calle d SLS a nd spoke with XXXX ID XXXX . I called to confirm receipt of the new contract sent on XXXX , they requested the some revisions to the HUD, and that 's all they need at this point. On XXXX XXXX , XXXX , the foreclosure sale date was re-scheduled to XXXX XXXX , XXXX . On XXXX XXXX , I calle d SLS and spoke with XXXX ID XXXX , he said he sent the updated HUD to the underwriter on XXXX and they have not reviewed it. I asked about postponing the sale date of XXXX and he said " it is postponed. '' I told him they are not allowed to re-schedule it since they have a complete application on file more than 37 days prior to the sale date. He said this is the XXXX application and I said they are still required to postpone the sale date. He was incredibly rude and continued to interrupt. I asked for his supervisor and he said he 's not available. He said I would not continue to hold for a supervisor and hung-up on me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-26
Watkins, CO
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My mortgage was purchased by SLS lending. They had been given the incorrect address by the previous company a nd there was a delay in payments being made directly to SLS. As payments were being made to the previous lender the account was kept up to date. Once the error was realized I reached out to my previous lender and was given the SLS conta ct information. I called them on X/XX/17 ( loan was sold on X/X/17 ) and set my account up with my correct contact information. At this time I asked what amount needed to be payed to get my account in good standing and the current balance paid. I was told an amount by their customer service rep and I paid this using their website that was received. On XXXX I received a call from SLS asking when my XXXX payment would be received. At that time I said " I 've already paid it ''. The representative on the phone was not able to research but said that the payment I made was not sufficient to make the XXXX payment. After researching myself I have found ov er one and half mortgage payments were put towards my principal even though I had outstanding payments to SLS. They have charged me " late fees '' and " property inspection fees '' due to my supposed late payments. The amount they have received since XXXX has been sufficient to keep my account current but they are incapable of applying the funds correctly and then ask for further payment. When contacting customer service today ( XXXX ) to inquire about the property inspection fee I was told it was an inspection of the property due to the late XXXX payment ( which they had received via the previous lender ). I was being transferred to an account executive b ut instead just hung up on. The service reps are no help and give me incorrect information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-26
Desoto, TX
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
2017-05-25
Staten Island, 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
2017-05-25
Chester, NY
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
2017-05-24
FL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Loan number : XXXX Mortgage company : Specialized Loan Service ( SLS ) B ought this property in XXXX 2014 at {>= $1,000,000} ( with PMI ). 15 year fixed and I made some additional payment ( now, the outstanding principal is {$340000.00 } ( lo w to value ratio is below 78 % ). I sent every required doc to SLS and asked them to cancel PMI. They did another round appraiser ( Broker Price Option, BPO ) and rejected my application. The reason is that they gave an estimated value of {$420000.00}. What they did is ridiculous : they compared my home with recent sal es with much smaller size and lower selling price. If they compared with similar model, no hom e ( same model as mine ) was sold below {$460000.00}. It is simply unfair comparison. Any one has basic statistic training knows the the importance of picking right sample. Plus, XXXX estimate for my home is around {$530000.00}. Even thou gh it may overestimates, I can not believe they came with this number.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-24
Waughtown, NC
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-24
Lynn, MA
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
2017-05-23
MI
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: This is a XXXX complaint regarding Specialized Loan Services , XXXX XXXX XXXX XXXX . XXXX complaint was regarding the doubling of taxes/insurance in escrow. In that complaint I determined they owed me {$1400.00}. They sent a check to me for {$1200.00} which was {$240.00} short of what they owed back. This was for over payment on mortgage due to the duplication of taxes/insurance they were escrowing for the year. I then received a letter from them dated XXXX XXXX that stated the monthly payment stated on the XXXX statement XXXX {$1400.00} XXXX is the correct monthly payment amount. They then closed the complaint without confirming with me this was resolved. I place phone calls back to them but never was able to speak to the correct person or someone that could address the complaint that has not been resolved. At this point, I was going to live with the fact they shorted me the {$240.00} in what they owed me just to be done with dealing with their ineptness and my busy work schedule prohibits the time to spend an hours on the phone trying to get the right person who could fix. This took XXXX XXXX months to what I thought resolved the issue even though it was not completely resolved. I then get a new statement for XXXX monthly payment that says amount due is {$2900.00} and regular monthly payment that again states it is {$1400.00}. This is right back where we started with the first complaint!!! I paid the normal {$1100.00} for XXXX that I have been paying all along. My XXXX statement comes and it says my regular monthly is {$1200.00} and that I am passed due and owe a total of {$1500.00}! I called and spoke on the phone to a representative on XXXX XXXX around XXXX pm after calls the past XXXX days during my work hours. Again after many minutes of waiting and voice prompts I speak to a representative who tells me that there needs to be some " buffer '' hold to pay for taxes/insurance of around {$500.00}. I told them you guys just sent me a check back ( {$1200.00} XXXX so why did you do this if you needed to " hold '' money? They representative just repeated her claim of the amount owed and I told her I would be sending the regular monthly of {$1100.00} and that I will be filing a XXXX complaint regarding their inept loan processing/payment procedures and the harassing phone calls. It is nearly impossible to figure out what is owed each month because of the changing statements. I will make the {$1100.00} a month payments until this issue is resolved to my satisfaction.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-23
Chicago, IL
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
2017-05-23
RI
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: I have been here for over 10 years I 'm not really good at this or any kind of paperwork my ex always did the paperwork so to my knowledged I just paid the mortgage some how we had XXXX mortgages started out with XXXX XXXX what the primary mortgage XXXX XXXX XXXX for the the low er one a s each year went by both increased each year well XX/XX/XXXX it got way out of hand and they wanted me to do a home modification to lower my payments needs to say the same thing happened in this other lender XXXX XX/XX/XXXX to XX/XX/XXXX I left a job the following year because I wa s working full time XXXX and Thursday Friday and Saturday from XXXX XXXX to XXXX XXXX . I worked at a XXXX XXXX for 17 years my body needed to take a break im almost XXXX soon well in XX/XX/XXXX a friend of mine needed a place to stay she fell ill at XXXX and had to let XXXX of he r jobs go because of lifting she and her XXXX kids and XXXX dogs XXXX cat as time went on I was having a had time with work had slowed down XXXX XXXX and she became XXXX XXXX could not work very sad to see a strong person sick but because of all this XXXX has made it harder for her to get better but my point that I was writing about is all these mortgage companies or scamming me and I had lost over {$100000.00} in this house and I filled out the application for the hardest hit fund and because she did not go with me I did not understand and they said will let you know in a few weeks well she called to find out what was going on and they said that we were tonight and come to find out that it was n't for the hardest hit fund it was for a mortgage something but I ca n't understand why my other lender transferred by deed without me knowing only because I wa s one mon th behind and we were already making arrangements to get this all taken care of so I am out once again and now I 'm about to be out of my home and these people that need help also not going to have a question though and I do n't think it 's fair at least companies just take but they wo n't and they make a start all back over again. Thank you
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-22
Silver Spring, MD
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Specialized Loan Servicing is the lo an servicer for my mortgage. They sent me a paper notice that they had messed up my escrow balance in early XXXX . Since then, I have received no follow-up mortgage statements, as I normally do, to pay my monthly loan balance. I tried to pay the balance online but no one can explain to me how/why I can not pay online. I have called and tried on several occasions to pay the monthly balance of my mortgage and I 'm concerned that they are trying to make me late on my payments and/or have inaccurately accounted for my loan.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-22
NY
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: On approximately XXXX XXXX XXXX I made the required payment and extra. On XXXX XXXX XXXX I made another payment for XXXX XXXX XXXX , it was applied to the principal. I spoke with The company Specialized Loan Servicing, LLC representatives on three occasions about XXXX XXXX payment being wrongfully applied to the principal and each person assured me that it will be corrected. I have received late fees and other fraudulent fees. On XXXX XXXX XXXX I reveiwed my credit report to discover that Specialized Loan Servicing list the account as delinquent for sixty days. I called the company again and the representative hang up.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-22
Glendale, CA
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
2017-05-22
Silver Spring, MD
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Complaint: I have disputed with the company many times about reporting my account as delinquent. I have sent in my bank statement showing on time payments for the due amount or more. The company just reported " late payments '' the credit reporting agencies from XXXX 2015 to XXXX 2015. The y are reportin g 9 missed payments. This reporting is incorrect and causing issues on me being able to obtain financing. I went through this with the company on another account and for this account already. Something needs to be done as I am ready to obtain counseling for this issue. I have attached my bank statement for year 2015 showing a payment every month to XXXX Web Pmt Single - Online Pm t Sls
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-22
Arlington, VA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I initiated a mortgage loan on XXXX / XXXX / XXXX and the only insurance requirement indicated was for hazard insurance. Since origination, the loan servicing has been transferred twice. At no time did either of the servicing companies state a requirement for any insurance other than hazard insurance. On XXXX / XXXX / XXXX , Specialized Loan Servicing LLC ( SLS ), th e current loan servicing company sent a letter stating that windstorm insurance was required. I promptly ordered and paid for a windstorm policy, which became effective XXXX / XXXX / XXXX . I was further notified by SLS that I was required to have windstorm insurance for the period XXXX / XXXX / XXXX through XXXX / XXXX / XXXX . I called and spoke with t he SLS Insurance Center p ersonnel, explaining that there was no indication of requirement for windstorm insurance prior to their letter of XXXX / XXXX / XXXX . I inquired why a policy was required retroactively. SLS personnel advised that the mortgage required it. SLS then force-placed a windstorm on the property, for the period XXXX / XXXX / XXXX through XXXX / XXXX / XXXX , and they charged the {$2000.00} premium to my escrow account. I call ed the SLS Insurance Center again and asked that the charge for that premium be removed from my escrow account for the reasons already cited. SLS has refused to remove the premium charge .
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2017-05-21
La Mirada, CA
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