Specialized Loan Servicing LLC

2017-01-26

Menifee, CA

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: Yes Timely Response

2017-01-26

Foothill Ranch, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2017-01-26

Charleston, SC

Loan servicing, payments, escrow account

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

Disputed: No Timely Response

2017-01-26

Hauppauge, NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

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

Disputed: Yes Timely Response

2017-01-26

East Troy, WI

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: XXXX XXXX transferred my loan to Specialized Loan Servicing on approximately XXXX/XXXX/XXXX. At the time my mortgage payment with XXXX XXXX was XXXX. It was broken down as follows : P & I {$1000.00} and Escrow of {$450.00}. The escrow amount amount transferred to SLS was {$4200.00}. Specialized loan services did not send me any statements so I contacted them to start paying my mortgage. They insist that the amount of my mortgage payment is {$1900.00}. {$1000.00} in P & I and {$870.00} in escrow. This would calculate out to over XXXX a year in taxes. As my property tax is only XXXX and my insurance premium is {$670.00}, the amount that they are trying to escrow is twice what it should be. I mailed a payment for {$1400.00} in XXXX which was cashed by SLS in late XXXX. In XXXX I made a payment of XXXX to make sure that there was enough funds in escrow to cover my taxes. I also made two payments in XXXX XXXX in the amount of XXXX. I have finally gained access to my online account in XXXX to find out that SLS is keeping all payments of XXXX in an unapplied account and calling my account delinquent. I have made numerous calls and have spent hours on the phone with various SLS staff and have been disconnected, put on indefinite hold, and told that a ticket has been opened only to call back to find that there is no ticket for the problem. In XXXX alone I spoke with XXXX in executive services Empl # XXXX on XXXX ; he was going to call and update me the following week. He did not. I spoke with XXXX in executive services Empl # XXXX on XXXX/XXXX/XXXX and was told they are still looking into it. I spoke with XXXX in Executive Services Empl # XXXX and was told to write an e-mail to XXXXXXXXXXXX I did write that e-mail and have not had any response. She also told me that SLS would not accept any payment less than XXXX. I honestly do not know how to move forward with this to get this resolved. I received a new escrow analysis showing my monthly mortgage payment beginning XXXX XXXX will be XXXX. However this does not resolve the fact that SLS is not applying my current payments to my mortgage. In closing I received a letter from SLS today stating that my mortgage is seriously delinquent due to the fact that they are holding all of my payments in an unapplied fund account. This is negatively affecting my credit rating and by not applying my payments correctly, the interest I paid in XXXX is incorrect as well as the fact that I am accruing additional interest on my mortgage. Additionally they are holding a cushion of {$840.00} in addition to the {$840.00} which is XXXX of the estimated payments for my anticipated escrow. Any assistance that you can give me would be greatly appreciated. It has been a nightmare dealing with SLS.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2017-01-26

Manassas, VA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2017-01-26

Irvine, CA

Loan servicing, payments, escrow account

Mortgage: Home equity loan or line of credit

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

Disputed: Yes Timely Response

2017-01-25

Far Rockaway, NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

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

Disputed: No Timely Response

2017-01-25

Snohomish, WA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2017-01-25

Loan servicing, payments, escrow account

Mortgage: Other mortgage

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

Disputed: No Timely Response

2017-01-24

W Springfield, MA

Loan servicing, payments, escrow account

Mortgage: Home equity loan or line of credit

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

Disputed: No Timely Response

2017-01-24

Gloucester City, NJ

Loan modification,collection,foreclosure

Mortgage: Other mortgage

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

Disputed: No Timely Response

2017-01-24

Chicago, IL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: I applied for a HAMP modification from Specialized Loan Service LLC ( SLS ) with the help of XXXX ( XXXX ) in XXXX. I was then told 5 weeks later that they would n't accept XXXX packet, so, I filled theirs out and updated all the docs requested of me.By the end of XXXX, I was told all of the docs had not been received and I would have to update mine and my daughter 's Social Security benefit letters while I was at XXXX. I left and went to the S.S. office and got both of the docs and brought them back to XXXX XXXX faxed them over to them immediately and brought my bank Statements up to date. When calling SLS in XXXX, I was told by XXXX, my counselor at SLS, I would n't be eligible for any government programs because they were missing my daughter 's S.S. benefit letter. She said even if I faxed them that morning at XXXX XX/XX/XXXX, it would be too late because it takes 24-48 hours to get into their system. She was very rude to me. I faxed them anyway and called them back and spoke to XXXX she told me that as long as I had the receipt dated before XX/XX/XXXX that it was acceptable but that I was also missing an update on my bank statement. I asked " Why did n't XXXX tell me that when I spoke to her earlier? '' She had no idea and she said she should have. I read that on XX/XX/XXXX there was a class action suit filed against SLS for the same reasons I 'm telling you about! They run people around for documents 2 and 3 times saying that they never got them. And They are not reviewing my application in a timely manner. I was also told by XXXX that the HAMP is over. I heard on the news that it has been extended. They have even called my insurance company and told them that I was in foreclosure. I have n't received any notice of that.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2017-01-23

San Diego, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2017-01-23

Hartford, CT

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

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

Disputed: Yes Timely Response

2017-01-23

Matthews, NC

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2017-01-23

Lorton, VA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2017-01-23

PA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I learned that our mortgage company reported the month of XXXX 2016 late to credit reporting agencies. We have paid all of our monthly payments timely, in XXXX parts, each month in the full amount due. I review the transaction history online on a regular basis, and each month, including XXXX 2016, showed {$0.00} owed for the monthly payment and a reduction in our principal balance. I have since been advised that the mortgage company, Specialized Loan Servicing, alleges to have increased our monthly payment from {$5000.00} to {$5300.00} claiming an " escrow shortage. '' I did not receive notice of this change. I have since found buried in the statement history an unintelligible letter which in small print, after several charts, notes an increased payment. However, the webpage still showed the original payment amount and both XXXX and XXXX 2016 I paid the original amounts and it showed a {$0.00} balance. Nonetheless, without warning, and without advising we " missed '' the extra {$200.00} for XXXX and XXXX 2016, SLS reported us late. This has decimated our credit, and eliminated any chance of our refinancing this loan. Clearly our history shows we believed we were paying our payment in full, and on time, as we had been. This negative reporting and sneaky attempt to increase our payment ( just 8 months into the loan ) is improper. After all, should n't SLS have to provide a valid reason for adjusting our payment when they decided the amount necessary for escrow? Should n't they have to provide conspicuous notice of the change? Should n't they have to let us know the problem and give us a chance to cure it before reporting to creditors? This is outrageous, and significantly stressful. We have been working diligently to put us in position to refinance - and just got denied and discovered these unfair and underhanded tactics.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2017-01-23

Orion Twp, MI

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: On XXXX XXXX, XXXX, Specialized Loan Servicing LLC ( " SLS '' ) ( investor and servicer ), owned by XXXX, and XXXX Bank XXXX, XXXX XXXX XXXX XXXX XXXX XXXX both located at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX illegally foreclosed on my property in violation of state and federal statutes. In XXXX XXXX, XXXX XXXX XXXX Bank, XXXX. sold the loan and servicing to SLS and assigned a new loan number. XXXX Bank XXXX, XXXX XXXX remained as the Trustee. As of XXXX XXXX, XXXX, XXXX XXXX XXXX Bank, XXXX. never filed the transfer of servicing with XXXX XXXX XXXX XXXX and the XXXX number associated with my home shows that the XXXX status is " Inactive '' and the servicer remains XXXX XXXX XXXX Bank XXXX located in XXXX, XXXX. Also, the Assignment of Mortgage with the county Clerk/Register XXXX is invalid since the old loan number has not changed and the new owner and servicer have not been recorded. A Lis Pendes was filed with the county Clerk to clarify the ownership of the property since a civil lawsuit was filed with the district court seeking damages. XXXX XXXX XXXX Bank, XXXX. was contacted to change the information in XXXX, but the Assignment of Mortgage should also be changed with the county Clerk/Register of Deeds. XXXX XXXX XXXX Bank, XXXX. confirmed that they made a mistake in not properly recording the documentation with XXXX and the county Clerk/Register XXXX. Therefore, Specialized Loan Servicing LLC and XXXX Bank XXXX, XXXX XXXX were not in a legal position to initiate foreclosure on the property. The last Assignment of Mortgage for the property was dated in XXXX. XXXX XXXX XXXX Bank, XXXX. was made aware that a civil lawsuit was filed against SLS and XXXX Bank XXXX for wrongful foreclosure based on state and federal statutes.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2017-01-20

San Gabriel, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: SLS servicer for loan XXXX is refusing to comply with the closing in order to get the investor paid. Approval was given by sls on XX/XX/XXXX 2nd lien approval came XX/XX/XXXX ( received XX/XX/XXXX ) Both approval letters were provided to the buyer 's lender. Buyers lender started the loan process on XX/XX/XXXX. however with all holidays and the skeleton crews at the banks, SLS only gave 24 business days to complete a buyer loan. Buyer 's asked for extension, one was granted for 7 days hardly enough time to close the file. We are still waiting on the 2nd lien approval as well. XXXX 's lender has had less than 30 days to do this loan and SLS is bulling us and threatening us to not let us close. We asked for an extension to XX/XX/XXXX but they gave to XX/XX/XXXX we asked for 2 extra days but they refused and sent a nasty email. Values are good for 6 months. Sls is sabotaging this closing because they have ego problems with in the staff. We are asking you to please get involved to help us get a normal extension period. Both approval letters are attached. as you know the buyers lender will not start the buyers loan until both approval letter are received by the short sale lenders. In this case the XXXX lien approval letter lagged by 11 full days so buyers lender could not start loan until XX/XX/XXXX. SLS Mtg. was told via phone conversation of the 2nd lien date of approval and are now Sls is refusing to help their investor close instead they would rather do a foreclosure. We need help please. Thank you
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2017-01-20

Jacksonville, FL

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: SLS recently began servicing my loan when the IR reset causing my payment to double. So starting in XX/XX/2016 I began submitting all of the required documentation to have the loan modified. Since this time the experiences I have encountered have made me lose confidence in their ability to execute loan modifications timely. Today is XX/XX/XXXX and I just got another call stating the XXXX doc that I sent back in XXXX is now invalid because the date is old. Furthermore, they told me the XXXX submitted for the co-borrower was also invalid when in fact just a few weeks prior they confirmed it was fine. It appears every 15 days or so they contact me to tell me about another random document that was n't requested up front is now needed and if I do n't send it I wont qualify. I have been very responsive when it comes to providing the necessary documentation but these long delays between calls and these random requests for documents that were not requested up front need to stop. In addition my single point of contact is 'bullying ' by stating [ with attitude ] that the mod wont get done if do n't supply the documentation. I do understand this but the aggression she showed is class-less. I am struggling to pay my mortgage and need a decision ASAP on if I qualify for a loan modification. I am borrowing money to keep the loan from going 60 DPD but it is becoming increasingly harder to make the payment. Based on these poor experiences I now believe SLS is purposely delaying the execution of mortgage assistance because the MHA program has ended and so has the Obama administration. this perceived negligence needs to stop and I only hope the CFPB can help end the madness. I think it is safe to assume hundreds ( if not thousands ) of other customers who have SLS servicing their loan are facing the same situation. I take confidence knowing the long reach of the CFPB and thank XXXX almost daily for their existence. Please help
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2017-01-19

Beach Center, CA

Loan modification,collection,foreclosure

Mortgage: Home equity loan or line of credit

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

Disputed: No Timely Response

2017-01-19

Clayton, MO

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

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

Disputed: No Timely Response

2017-01-19

Lansdowne, VA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

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

Disputed: No Timely Response

2017-01-19

NY

Loan servicing, payments, escrow account

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I received a Tier 1 hamp loan modification for my home from my servicer SLS. I believe they have violated Hamp guidelines in this process. The value and money owed is more then XXXX % they have now is not within LTV guidelines. Having made the trial payments and additional XXXX months payments and they still do n't report them. I have requested they vacate the foreclosure judgement and have I never received any response. They have ruined my credit by not removing information on my record
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response