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 8
2019-10-02
Bridgewater, 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
2019-10-01
KY
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: XX/XX/2019, mortgage was transferred from XXXX XXXX XXXX XXXX to Specialized Loan Servicing. Per XXXX XXXX, mortgage was paid up and next payment would be due with SLS on XX/XX/19. On XX/XX/19 & XX/XX/19 payments of {$370.00} were made ( two half payments ) on SLSa website to cover the XX/XX/19 payment. SLS called on XX/XX/XXXX looking for the XX/XX/19 payment. When I explained that the 2 payments were for the XXXX payment, I was initially told that those 2 payments would have been for XXXX. When I explained I was current to XXXX, I was then told the payments were applied to principal instead of the payment. Got the issue straightened out then. Could not enroll in the bi-weekly payment plan because SLS requires a payment in advance when XXXX XXXX did not. Was told my account was noted that I would continue to manually pay 2 payments leading up to the due date for the next month. Was told that since the account was noted that it would be possible that the payments would apply correctly if a rep went into the account to look for payment. If not, I could call in and get a Cash Correction and the funds would be applied correctly. I did this every month without issue, verifying that my payments were applied correctly and that my mortgage was current. I called SLS on XX/XX/XXXX to make sure my XX/XX/19 and XX/XX/19 payments were applied to the amount due on XX/XX/19. Spoke with a rep named XXXX out of the XXXX office who didnt seem to grasp the concept of how my mortgage was paid, I had to call back on XX/XX/19 and spoke to XXXX who told me that my account had been screwed up pretty bad by a previous rep. She told me that she would put in a request for a Cash Correction to get the XXXX XXXX payments applied to the bill due on XX/XX/19. Was told this would take care of the issue and I would not incur any late fees. As of today, my account still shows late. I spoke with a rep name XXXX who tried to state that going way back to my XXXX payments that those were actually for XXXX ... my loan wasnt even transferred to SLS until XXXX. She tried to tell me per that explanation that Ive technically been late since then ... even though my mortgage has been current and I have not been applied any late fees at all until now when my XXXX payments for the XX/XX/19 bill were not applied correctly. Let it also be noted that I get a lot of misinformation from SLS. I have been told that Cash Corrections take 3-5 business days for the account to reflect. XXXX told me it could take 15 days. Was also told by XXXX that all Cash Corrections get a call back from a supervisor ... XXXX said that was not the case. Was also told by all the other reps that when I make partial payments ahead to cover the next months payment ( example, {$370.00} on XX/XX/XXXX and {$370.00} on XX/XX/XXXX go to the cover the {$740.00} due on XX/XX/XXXX ... and so on for every month after that.. ) that it actually goes to the principle ... as extra towards the balance until a Cash Correction can be made to reverse those out to go towards the payment. XXXX states today that when I make the partial payments that they go towards that months payment ( example, the payments I made XX/XX/19 and XX/XX/19 would have gone towards what was due on XXXX ) and not the principle. There again, I am getting different information. Was met with nothing but excuses, inquiries as to why I split up my payments and just a general poor attitude. It appears that the issue lies with the XXXX and XX/XX/XXXX payments not being applied to take care of the XX/XX/19 amount due. The general feeling from XXXX was that it was a lot of trouble for SLS to go in and do Cash Corrections and get the funds applied correctly..and that no matter what I would still have to call in to get the changes made every month. I was told by XXXX that SLS is a Mortgaging Service and not a bank and that how I made payments with XXXX XXXX May not be the same as with SLS. Instead of digging into the issue, all XXXX wanted to do was pointy fingers at me and blame me for the situation. ALL PAYMENTS I HAVE MADE HAVE BEEN FOR THE MONTHLY PAYMENTS ONLY AND NOT TO PRINCIPLE. ALL FUNDS THAT HAVE BEEN APPLIED TO SLS SHOULD REFLECT THAT!!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-10-01
Indianapolis, IN
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Summary I am paying PMI on my mortgage even though my LTV is less than 78 %. They keep telling me that they will mail me things that never show up in the mail that I can sign for a written request and that I can't get approved because it needs to be 75 % and 2 years.Homeowners protection act of 1998 states the actual laws on PMI cancellation which doesn't require you to wait 2 years and should automatically be dropped off when you reach 78 %.
I have called over 5 times and get told over and over again that I need to wait two years and 75 %. It's impossible to get to people in charge and I'm stuck paying PMI in the meantime and I never actually get mailed anything.
Attached is the timestamp when I crossed 78 %. The date is XX/XX/XXXX I put {$6200.00} down.
Attached is the amount I currently owe which is {$130000.00} Math : XXXX/XXXX = 77.2
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-10-01
Indianapolis, IN
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: At this point, I DO NOT know what to do. I have dealt with XXXX, XXXX XXXX, XXXX XXXX XXXX and now SLS. I have had three modifications, only one was legit. When I refinanced in XX/XX/XXXX, I signed with XXXX XXXX XXXXXXXX the same day. XXXX is the ONLY mortgage on record, but NO ONE can find any documentation. I have always questioned my modifications and loan servicing since XX/XX/XXXX. I have kept everything.
I am currently in foreclosure, sheriff sale XX/XX/XXXX. I want to save my home, but I am tired of SLS. I would prefer XXXX XXXX XXXX then SLS. When I received my last modification SLS became my servicer. When SLS received my account there was a balance from the modification. Which is impossible. At this point I could not see my account online ; they would not discuss it with, and I received NO statements. Just told we are not allowed to discuss your account with you, just send the money. I ended up losing my job and did not get back to work almost two years later. In XX/XX/XXXX I almost lost my home but was able to borrow the money to save it and have the sheriff sale stopped. When I went to make my payment in XX/XX/XXXX, there was a $ XXXX extra charge on my account. I also wanted to set up automatic payments. I was told I can do automatic payments and they do not know or can not tell me what the $ XXXX overage was for. I just need to pay, if I want, I could email customer service.
SLS uses the fact that my home was not reaffirmed they can not help me only take my money. I am so frustrated. I DO NOT trust them. I can not ask them for help, they always tell me they can not help me. I was told by multiple this would happen and their goal is to take your home. I can go and on. I do not understand how I can balance after a modification and sheriff sale. I wish I never refinanced and stay with my FHA loan. It has been a nightmare since.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-10-01
Arcola, VA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-10-01
Indianapolis, IN
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-30
Tucson, AZ
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-30
PA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account information incorrect
Complaint: A mortgage company claims a balance on a second mortgage is now {$520000.00} with a payment of over {$2000.00} when in reality the loan is paid off by the sale of my house in XX/XX/XXXX. I was denied credit the same day with XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-30
Highland, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: XX/XX/19 AS OF TODAY ITS BEEN TWO WEEKS SINCE WE HEARD BACK FROM ARE POINT OF CONTACT XXXX! WE WERE TOLD BY A SUPERVISOR TO RE-DO A RMA! WHY SHOULD MY HUSBAND HAVE TO REAPPLY FOR A MODIFICATION WHEN WE WERE LIED TO AND SLS COMMITTED FRAUD! THEY HAVE BEEN NICE TO US IN THE PAST SINCE WE WERE SOLD TO THEM YEARS AGO BUT ENOUGH IS ENOUGH WE WILL DO ANOTHER RMA FOR A MODIFICATION WE WILL NOT LOOSE OUR HOME WE HAVE BEEN HERE FOR OVER 26 YEARS! AND I WOULD LIKE TO KNOW WHAT HAPPENED TO THE XXXX I DONT KNOW THE EXACT AMOUNT * IT WAS WHEN XXXX WAS PRESIDENT HE HAD THIS HAMP THING FOR PEOPLE WHO NEEDED HELP WITH THERE MORTGAGE AND A % WAS TAKEN OFF OUR MORTGAGE I WOULD LIKE OUR LOAN TO BE LOOKED OVER BECAUSE SLS PUT THE XXXX ( AGAIN I DONT KNOW THE EXACT AMOUNT IM LOOKING FOR THE XXXX ) BACK INTO OUR BALANCE WHICH IS FRAUD! THAT MONEY SHOULD BE PUT BACK INTO OUR MORTGAGE BECAUSE WE DONT OWE WHAT THEY ARE SAYING ITS MUCH HIGHER NOW BECAUSE THEY ADDED THAT BACK IN!
Company Response: Closed with explanation
2019-09-30
NY
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: On XX/XX/19 I paid the last payment of the loan. On or about XX/XX/19 I received another statement that read that I owed {$8.00} because the payment received was not deposited before or on XX/XX/19 therefore interest owed was {$8.00} which was due XX/XX/19. I paid the requested amount of {$8.00} on XX/XX/19. The loan Co. did placed the payment for XXXX XXXX XXXX ) and did not credited it for XXXX XXXX XXXX ). The Company has now billed me for XXXX, XXXX, XXXX for last charges of {$34.00} and it has increased to over 69.. In addition to those chargesI have being charged {$220.00} for recording fees. All of the charges combined are {$290.00} and they are growing. They have not cooperated, they wrongfully and correctly placed information on my Credit report. I spoke with five or more representatives of Specialized Loan Servicing with no positive results. The recording fees are the highest I have seen and in my opinion are a form of retaliation for my lack of knowlegde about not requesting a Pay Off amount. The Rep. Said that was my only oversight and that she sees not last payments and no balance to accrue late fees. I would like my Credit Report CORRECTED and A LETTER OF THAT THE DEBT HAS BEEN PAID IN FULL. THIS IS THE SECOND TIME I HAVE HAD TO FILLED A COMPLAINT AGAINST THIS COMPANY FOR THEIR INPUTTING ERRORS. PLEASE CHECK.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-29
NY
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: We went through the trial payments and completed the notary portion of the modification when we went to make a payment a month later we where told that the paper work was not correct and did not receive any notice on this issue we called back and they emailed me a new document to get filled out again we went to a judge and banker to make sure this was filled out properly and sent it in next day air ups a couple of days went buy and we got a notice the house was being put up for sale on XX/XX/XXXX that is only 5 days a way we have been in this position since XX/XX/XXXX we hired a attorney who is working on the sale dat to cancel it so we can go through this process again this will be the 3rd time with this bank we have completed 3 trial plans with a total of 9 payments we also trusted a company that charged us for a forensic audit they claimed we needed the company was home owner retention company in XXXX XXXX as well as there attorney we fired them and refuse to pay remaining fees they messed this up so bad now we had to hire a new law firm and they are good but we lost a lot of money and sleep. We have had a hard time my wife has XXXX we lost Family members to XXXX and my XXXX son got XXXX XXXX XXXX XXXX after a XXXX XXXX playing collage XXXX. it has been very challenging but now we are ok and need help.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-28
Carrollwood, FL
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-28
Georgetown, SC
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-28
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-27
Bremen, GA
Incorrect information on your report
Mortgage: Conventional home mortgage
Complaint: Our account was purchased from XXXX XXXX XXXX by Specialized Loan Servicing at the end of last year. We were notified by XXXX XXXX XXXX that there would be no required action for us during this change. We have always paid our mortgage via automated online bill pay, which we continued to do so. Our account was transferred to SLS in XX/XX/2019. Our payments in XXXX, XXXX and XXXX were deducted from our XXXX XXXX XXXX bill pay and transferred to SLS via XXXX XXXX XXXX. Suddenly, this transfer stopped happening for the XXXX and XXXX payments. This was unknown to us as the XXXX and XXXX payments were shown as deducted from our bank account and we were notified that those payments had been paid via online bill pay. In XXXX, we received communication from SLS via a XXXX letter that our mortgage had not been paid. We immediately called SLS on XX/XX/19 to resolve the issue. We were able to go back and see where XXXX XXXX XXXX withdrew the funds from our account, however, they stopped transferring those payments to SLS. On XX/XX/19 when we spoke to a SLS representative they were able to confirm receipt of payments from XXXX XXXX XXXX online bill pay for payments leading up to XXXX and XXXX. We went ahead and paid both months of the overdue bill as well as the upcoming XXXX payment. We also went ahead and set up automatic bill pay with SLS to avoid any future issues and canceled our autopay with XXXX XXXX XXXX. We took care of paying all outstanding amounts, along with the XX/XX/2019 payment that day. Since then, all payments have been made on time through autopay.
The good news is that all the payments were caught up and I was able to get my money back from XXXX XXXX XXXX. The bad news, is that we are now trying to sell and buy a new home. We are literally in our last days of due diligence and I have thousands of dollars at stake in earnest money, and this issue has popped back up as of Monday XX/XX/19. I have since reached out to SLS multiple times. I spoke to a SLS representative that was so helpful. She said that she was able to see the notes in the system from this issue and that she would be able to escalate my concerns to the CC3 department. We discussed that I needed those two months of late payments to be removed from my account and credit reporting. She said that should not be a problem and would escalate my ticket as far up as she could, knowing that I was under extreme time constraints. She mentioned that I would receive a call back that same day or the next day. After not receiving a call back on Tuesday XX/XX/XXXX, I called and spoke to another representative that morning. She informed me that what I was told before may not be the case, as this issue could take more time to resolve. I was told to write a letter explaining the situation and provide statements showing where my payments were deducted from XXXX XXXX XXXX ( see below ). I also included screen shots showing that all of my mortgage payments were withdrawn from my XXXX XXXX XXXX account on time. SLS confirmed that they could see in their system that the XXXX, XXXX and XXXX payments were transferred to them by XXXXXXXX XXXX XXXX. I also provided statements that showed all of my other mortgage payments have been made on time since then to both my SLS account and then also to my other mortgage account that XXXX XXXX XXXX still holds. XXXX XXXX XXXX has provided me with letters showing that payments were all paid via online bill pay, by them ( attached ).
I have attached all documents that I have to be able to give at this time. I can show you where the payments were deducted from my account. SLS admitted that they could see in their system where the payments were transferred to SLS XXXX, XXXX, and XXXX by XXXX XXXX XXXX. You can see where the XXXX and XXXX payments were deducted from my account but not transferred to SLS by XXXX XXXX XXXX. You can see that when we learned of this issue and spoke to SLS on XX/XX/19, we immediately made payment for the two missed payments and the upcoming payment at once. I have begged SLS to help me. I have been speaking to their cusotmer service agents all week, who have told me they can not help me. I have asked to speak to a supervisor and been told that there were no supervisors available. Or that there were no supervisors currently on duty or on the floor. Or that supervisors did not field these types of calls. I spoke to one supervisor who treated me disrespectfully and rudely. When asked to speak to a manager, he told me no. When I asked to speak to his supervisor, he told me no. He literally told me that his boss ( XXXX ) didn't take calls and that he could not transfer me to him. I asked to speak to anyone above him and he said no, because anyone else is going to tell you the same thing I am. I begged to speak to anyone that could help me, explaining that my situation was unique and that I just had to keep climbing the ladder until I got to someone who could assist me. He still refused to help me or transfer me. I asked if I could leave a message for " XXXX '' and he said no that he did not accept calls but that he would send him an email to see if he would help me but that I " should not count on a call back from him ''. Again, I was treated beneath everyone at this company and received no help. I asked this same supervisor for a consumer complaint department or number ... he said they did not have one. I asked for the number to the legal department ... he said they did not have one. I told him that I was trying everything I could to try to get this issue resolved in a way that was beneficial for everyone but that I was afraid I was going to have to involve my attorney. He then said to me that " in that case, your attorney will know where to send the subpeona. '' Who says that? Who says that to a client? The non helpfulness and rudeness is one thing. This company has horrible customer service. But to refuse a client access to upper management to seek help, then refuse any sort of avenue to submit a complaint, and then to boldly tell a client to just send a subpeona is shocking. Apparently this must be a standard practice of this company. I have continued to call and continued to be ignored. I have asked repeatedly to speak to someone who can help me and have been denied. I have repeatedly asked for explanations and have been denied. This issue has kept me from my job all week. It has kept me from my family all week. It has caused me physical and emotional distress. If this issue is not resolved quickly, it will keep me from not only losing my dream house but also from getting ANY mortgage or house. This issue has popped up late in the process and, as I explained multiple times, I have already sold my home. If this issue is not corrected on my credit report immediately I will lose thousands of dollars of earnest money and I will also have no home to move into as mine is already sold. I understand that these issues usually take time but please understand, I need your help swiftly.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-27
Santa Ysabel, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I refinanced my loan within the past 2 months and have been giving a new loan servicer called Specialized Loan Servicing. While becoming familiar with their website I clicked a button for " payoff quote '' and and then " continue '' and was assessed a {$25.00} fee without any warning or prompt that I would be assessed a fee. There is nothing on the website that says this fee will be assessed. I did not need a pay off quote, but was merely exploring the website. I called for help at SLS and spoke to a person who said she would not waive the fee and then kept me on hold for over 30+ minutes I attached the screen that is displayed when " Payoff Quote '' is clicked.
The servicer is called : Specialized Loan Servicing LLC : NMLS ID Main Office XXXX ; NMLS ID Branch XXXX XXXX Monday through Friday, XXXX XXXX until XXXX XXXX. MT,
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-27
GA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My loan was sold or is being serviced by Specialized Lending Services, I was owing XXXX XXXX. I have Always paid my mortgage and this company has reported me 30 60 and 90 days late. Ive paid more than whats due. They refuse to address the incorrect info on 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
2019-09-27
Tacoma, WA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: LOAN # XXXX Borrower : XXXX XXXX Property Address : XXXX XXXX XXXX XXXX XXXX WA XXXX *** This is a second lien on a property we've been trying to complete a short sale on for many months. We have secure 1st lien approval which expired as of XX/XX/XXXX and an extension is currently pending. This property was set to be foreclosed on XX/XX/XXXX however, luckily we were able to get the first lien to postpone but they almost hadnt due to this lien holder taking so long.
I have called literally every day to follow up and have been told for 30 days now that the approval letter should be ready " tomorrow ''. Yet, it never arrives. All parties, especially the buyer is extremely upset and frustrated with these false promises. The company is receiving the net they are wanting and there are no reasonable explanations for the continuous delays.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-27
San Clemente, CA
Struggling to pay mortgage
Mortgage: Home equity loan or line of credit (HELOC)
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-26
Auburn, WA
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
2019-09-26
Highland, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: i talked to XXXX OUR POINT OF CONTACT ON MONDAY AND SHE TOOK A PAYMENT FOR XXXX THAT WILL BE TAKEN OUT OF OUR CHECKING ON XX/XX/XXXX! SLS LIED ABOUT THAT THETRIED TO CONTACT US THEY NEVER DID I CANTACTED THEM THE WEEK AFTER XX/XX/XXXX WHEN THE MODIFICATION WAS DUE AND THATS WHEN I WAS TOLD THAT IS WAS DENIED DUE TO THE NOTARY! WE CAN GO BACK AND FORTH WITH THIS BUT IM NOT GETTING MYSELF UPSET WITH SLS! I HAVE EVERY RECORED MESSAGE AND I WAS DOING WHAT I WAS TOLD! MY HUSBAND AND I WANT THE MODIFICATION TO BE REDONE AND PUT XXXX [ PAYMENT THAT IS GOING IN ON XX/XX/XXXX TOWARDS XX/XX/XXXX AND WE OUR ASKING FOR THE MODIFICATION TO BE BACK DATED TO START AS OF XX/XX/XXXX THATS ONLY FAIR GUE TO EVERYTHING WE WERE PUT THROUGH OR I WILL LET A JUDGE OR A LAWYER LISTEN TO ALL THE MESSAGES FROM SLS!!! ALSO IM ASKING WITH WHOM DO WE ASK FOR OUR LOAN TO BE AUDIT? THERES BEEN MONEY TAKEN BACK AFTER THE HAMP PROGRAM OVER {$20.00} GRAND AND ADDED IT BACK INTO OUR BALANCE THATS FRAUD!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
Allenwood, NJ
Struggling to pay mortgage
Mortgage: Other type of mortgage
Complaint: We were previously in financial crisis due to a bankruptcy with XXXX XXXX ( loan Number XXXX ) they sold our mortgage just as we started a loan modification process to SLS ( XXXX ) new loan number.
SLS started the foreclosure process and than offered us a modification. We jumped on the opportunity to stay in our home, where we have remained for the last 18 years.
We have jump thru every hoop with Specialized Loan Processing, even following up with phone calls that were recorded, telling us we are on track and the modification is a go.
We sent in every payment and we were told to continue to send in the payments and we should expect the loan documents to complete the process of the loan modification and we would be on our way.
Well, they did a bait and switch ... ..they sent our XXXX payment back to our home address and it had nothing to do with lack of payment. We have made every payment faithfully and sent the checks 2 day mail with tracking to make sure there were no problems.
Now, we find ourselves helpless and no where to turn for this deviant behavior from a large corporation. They should not be allowed to lead on a consumer and than pull the carpet out.
this is so offensive to a family that is trying to save our home
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
Lannon, WI
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Im contacting you regarding a request I made to Specialized Loan Service SLS to have my private mortgage insurance removed. I purchased this property at XXXX XXXX XXXX in XX/XX/XXXX and with the intention of remodeling the entire first floor, adding windows and access doors and a deck. Once I was finished in XX/XX/XXXX, I had two professional real estate brokers, familiar with the market, estimate the market value of my home. Knowing that my house value now would be under the requirement for PMI, I requested in XX/XX/XXXX for the PMI to be removed by specialized loan service. After months of frustration with SLS nonresponse and non-timelessness, I filed a complaint with CFPB. Finally, in XX/XX/XXXX XXXX company contacted me to do a BPO. I indicated to the XXXX employee that I had over {$50000.00} in receipt for the remodeling of my home. The XXXX employee did not want the receipt and I gave him a copy of the summary and cost of the remodel. He came into my house with his cell phone snapped a few photos and was gone. He did not measure anything and was only there for a very short period. In XX/XX/XXXX I received a notice stating the BPO did not show the property was under the PMI requirement and the PMI would not be removed. Shortly later I received a copy of XXXX very poor assessment of my property and a very poor comparison to other properties in XXXX. There were numerous mistakes and even had the garage as a detached garage. XXXX report almost seem that some information was carried over from another assessment. Other similar properties nearer to my address and even on my street, were not used as a comparison. XXXX assessment only raised my value of my home by {$4000.00} which is unacceptable.
Since I was tired of dealing with SLS, getting a run around, who does not have a good reputation, has numerous complaint against you and not wanting to continue to pay PMI on a property that the value of the home would not require it, I decided to switch mortgage companies. There was an appraisal conducted on my home in XX/XX/XXXX and the appraisal came in at {$360000.00}. This is a difference of {$51000.00} more than your final assessment. XXXX BPO was not even close to the value of what my home is. The original appraisal on my home when I purchased it in XX/XX/XXXX was {$310000.00} and yours was {$310000.00}. The market in XXXX is extremely stable and over {$50000.00} of remodel and upgrades was added this home, which would indicate the value should have raised way more than {$4000.00}.
I must question the relationship with SLS and XXXX company. I must question how someone can be so far off. I must question the mistakes that were made by XXXX company. XXXX company provided a service that was not even close to being accurate. Since SLS charged me for XXXX service that was not even close to be an accurate assessment of the value of my home, Im requesting to be refunded this amount.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2019-09-24
Canaan Lake, 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
2019-09-24
Ewing, NJ
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