Specialized Loan Servicing LLC

2016-10-26

Arco, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I am currently trying to get a loan modification review through SLS but they just told me today that they could not because they need 38 days to look at my file. This seems odd because I have been submitting documents and was never told that. I submitted my loan modification documents over 10 days ago and additional conditions over this weekend only to be told that they can not look at my paperwork.I am concerned because I have not received anything in writing and feel that SLS just does n't want to work on my file. I get teh sense that they are going to just let me lose my home. I have a sale date for XXXX/XXXX/16 and I do n't want to lose my house to foreclosure.
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

2016-10-26

MD

Loan modification,collection,foreclosure

Mortgage: Home equity loan or line of credit

Complaint: My wife and I filed a Chapter XXXX due to excessive medical bills on XXXX/XXXX/XXXX and it was discharged on XXXX/XXXX/XXXX. Beginning back in XXXX XXXX, I requested a loan modification with Specialized loan Servicing , LLC ( SLS ) -- our loan is with XXXX. Since XX/XX/XXXX, I submitted another formal loan modification request to SLS and during the last 7 months, I have been beating my head against the wall with SLS. They would delay and then ask for the most recent bank statements and now advise that my XXXX XXXX, XXXX loan modification has expired and that I may submit a new one XXXX XX/XX/XXXX. I have attempted to speak to my assigned SLS account person but told due to my Chapter XXXX discharge that I can not talk directly to them. First, they still have my Chapter XXXX as pending and refuse to change my status to discharged effective XXXX/XXXX/XXXX. I have provided a comprehensive package of support to them including a specific hardship justification. They have not accepted my monthly net income/tracking sheet which documents a negative cash flow. The negative cash flow is made worst because my 10 year draw down interest only loan ( was 6.875 % ) with SLS ended XX/XX/XXXX. My monthly payment had been {$260.00} and then rose to {$410.00} in XX/XX/XXXX and can increase up to the maximum interest cap of 18.0 %. While the approval of the Chapter XXXX has significantly improved our financial situation, failure to get SLS to modify our current non-fixed rate loan to a fixed rate loan around 4.00 % for 40 years, continues to make our financial status problematic if we want to remain in our home. The Bankruptcy court required {$5800.00} of my XXXX Tax refund and over {$3000.00} of jewelry that my wife had inherited from her Mother. Our only savings is around {$1300.00} which we use to help cover the {$300.00} negative cash flow still existing made largely up of the increased SLS monthly loan payment. Our only income is my Federal XXXX check as my wife receives no XXXX income or any other income. My wife is permanently handicapped from a previous auto accident ; I suffer from XXXX, and my XXXX year old son has medical issues and is unemployed and lives with us. We truly love our home and its location to many of our Doctors but if we can not secure a loan modification from SLS, we will be forced to leave. Based on the attorney 's advice, we did not reaffirm our primary mortgage with XXXX, SLS or our car loan with XXXX. In XXXX, XXXX ( then XXXX XXXX ) did approve a significant loan modification at a 4 percent interest rate which reduced our month payment by over {$500.00} and recently XXXX also approved another smaller loan modification of about {$60.00} per month by extending the laon again to 40 years.I have also been working with a HUD counselor in XXXX, MD who recommended that I file a complaint with the MD XXXX, the Consumer Financial Protection Bureau, and the Attorney General of the State of Maryland. I most recently called SLS on Tuesday, XXXX XXXX, XXXX to again attempt to get the process moving but was informed that they will not change my Chapter XXXX status unless an Abandament of Property Order is issued by the Bankruptcy Court. Any guidance will be most appreciated regarding this matter.
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

2016-10-26

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: Yes Timely Response

2016-10-26

MD

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: XX/XX/XXXX XXXX XXXX XXXX sold my mortgage to Specialized Loan Services LLC. Before payments began I spoke to SLS and they agreed, via phone, that I could continue to pay bi-weekly like I had been doing with XXXX XXXX XXXX. They stated that their system was not set up for it but they would do it. The statements sent out were going to be off and show late fees however they said not to worry about it because they would have it corrected in the system. Once in a while they would call to say it was late however when I mentioned the agreement the caller would see it written in the system and have the calls stopped. I set up bill pay with my bank so that the day after my paycheck was deposited a check would be sent out to SLS. I have never missed one payment, and there have been months when they have received an extra payment. From XX/XX/XXXX till about I believe XX/XX/XXXX there were no late charges and I believe ( I have no way of checking ) they were even applying the extra money to the principal. However after doing my XX/XX/XXXX taxes I found that around XX/XX/XXXX they had started to charge late fees and were no longer applying the extra money to the principal. I had also found where they were reporting me late, over 19 times, to the credit report companies. When I tried to dispute it SLS would send a copy of the original agreement I made with the private lender saying I agreed to a single payment once a month, and that they were only a third party attempting to collect a debt. I explained to them that they agreed to the new payments in XX/XX/XXXX and that even though it was verbal they had to honor it. They refuse to correct any of the late charges, or late reportings. The one customer service rep. I talked to said there was no way to really prove there was an agreement. I did tell him that the fact it took them a year and half to start charging late fees, and that I have been paying the same exact way since XX/XX/XXXX should be pretty easy to prove it. He than said well we are only a third party trying to collect a debt which is not true either. The private lender died and his next of kin sold the mortgage to XXXX XXXX XXXX. I have checked and XXXX XXXX XXXX have the account showing as closed out saying they sold it SLS. When I asked for a supervisor he advised there was no way of reaching one and hung up. I have filed complaints with XXXX, as well as with the XXXX in an attempt to clear this up however they will not honor the verbal agreement we made. I will try this one last time to have them correct the issue, however I am looking for a lawyer at present and will take it to court if that is going to be the only way SLS will correct their mistake.
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

2016-10-26

San Diego, CA

Loan servicing, payments, escrow account

Mortgage: Home equity loan or line of credit

Complaint: I opened case # XXXX on XX/XX/2016 because each month, since XX/XX/2016 SLS has been receiving my monthly payments on time but " losing them '' and then charging me a late fee as well as reporting late payments being made on my payment history, which impacts my credit score. In XX/XX/XXXX, SLS claimed the XX/XX/XXXX payment was late because it was returned due to an wrong account number. This is NOT true. The account number is the same account # I have had since SLS became my lender. The payments are sent directly from XXXX to SLS electronically. If you listen to the tape of the recorded phone conversation between XXXX at SLS and I XX/XX/2016 you will here her admit that the cashier made an error and that the payment was returned in error to XXXX. XXXX then told me that I needed to re-send the payment, which I did that very day and that they received it on XX/XX/2016 ( ref # XXXX ). She also asked me to send proof of payment, which I submitted via XXXX mail. I also notified them that on XX/XX/2016 they would also receive the XX/XX/XXXX payment ( ref # XXXX ) to ensure there was no confusion about how the payments received should be applied ( that it was not additional payment against principal but instead the monthly payments that are due ont he XXXX of each month ). I sent this notification and proof of payment to the address I was given by XXXX on XX/XX/2016 and that I have been using every month when they ask me to submit proof of payment. ( XXXX, XXXX, CO XXXX. ) Today, XX/XX/2016, I received a notice from SLS stating the proof of payment went to the wrong address and that I was charged a late fee of {$9.00}. SLS needs to remove the late fee and correct my credit reporting history. The XX/XX/XXXX payment was NOT late. They received it on XX/XX/2016 and they returned it in error to XXXX. Again, listen to the recording which I know was made of the phone call and you will here XXXX state that the cashier returned the check in error and for me to resubmit the payment as well as an explanation, proof of payment and the copy of the email XXXX sent to me notifying me the payment was returned on XX/XX/2016. Claiming that a payment was not made on time and then charging a late fee or claiming an incorrect address or incorrect account # was on the payment/check and then charging a late fee is XXXX. SLS has been doing this to me every month since XX/XX/2016 Furthermore, the excuse that a payment was not received due to an incorrect address is ridiculous since the payments are always sent electronically. An incorrect address is the excuse that the XXXX XXXX on XX/XX/2016 made for the " lost '' payment. I asked to speak to a supervisor since I was not getting anywhere speaking with anyone else in either the XXXX department or XXXX department. I want someone above a supervisor level to look at my account, process the payment correctly, remove the late fee, correct my credit reporting history and then send me written proof this was all done. I have always had a near perfect credit score and I will not allow fraudulent practices by SLS to charge me late fees and ruin my credit score.
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

2016-10-25

San Francisco, CA

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

2016-10-25

Bardonia, NY

Other

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

2016-10-25

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

2016-10-24

Lynn, MA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: I received a letter from SLS dated XX/XX/2016 that said I might qualify for a HAMP modification. I filled out the HAMP application packet included with the letter, and faxed it back to SLS on XX/XX/2016. Shortly after that, I called SLS to confirm that they had received my application. I spoke to an SLS representative and she confirmed they had received my application and she gave me a rough estimate of future modified payments. She did not tell me that I needed to send anything additional. Now SLS has scheduled a foreclosure sale on XX/XX/2016. I never got any answer from SLS about my modification, and they never communicated with me about anything else I needed to do. Not only is this not fair, but it will make me and my family homeless including my children who grew up here.
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

2016-10-23

Burlingame, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My mortgage was sold to Specialized Loan Servicing in late summer XXXX. I have had several problems with this company since they began servicing my loan. I received the first two monthly payment notices last XXXX and XXXX and made my payments early ; approximately three weeks prior to the XXXX of the month due dates. Both payments were posted just a few days prior to the due date, which I thought was strange as my prior experiences were that payments were posted 7-10 days after mailing. I again mailed my third monthly payment ( due XXXX XXXX, XXXX ) on approximately XXXX XXXX, XXXX to a post office box in XXXX GA ( XXXX XXXX XXXX, I believe ). Specialized Loan Servicing claimed they never received this payment. I called their customer service phone number approximately XXXX XXXX, XXXX and initially spoke with a service representative who was unhelpful and basically told me call back in a couple of days as the late payment deadline was approaching. I again called back around XXXX XXXX, XXXX and spoke to a different customer service representative who suggested that I sign up for their automatic monthly loan payment program ; which I did. However, in order to assure that my XXXX XXXX payment was not late I had to use a one time EFT payment for which I was charged a fee. I also was charged a stop payment fee by my bank regarding the check Specialized Loan Servicing said they never received. After this incident, I reviewed this CFPB complaint database and noticed numerous complaints regarding the servicing of mortgage loans by Specialized Loan Servicing. This company seems to have serious problems with whomever they are contracting with to service their loan remittance payments. A simple XXXX search shows the XXXX XXXX XXXX XXXX to which payments are remitted is a third party payment processing company. Since my loan has changed beginning with the XXXX XXXX, XXXX payment to an automatic monthly EFT payment there have been no issues with the recording of P & I and the escrow funds. Now though, mysteriously, my access to the Specialized Loan Servicing website recently has disappeared. I have utilized my personal email and a password to gain access to the site and monitor my loan since this company began servicing it last year. Recently, when I was unable to login, I thought maybe my password had expired. I requested a new password and they asked for my email address to confirm my identity. When I provided my email address, the response was they could not associate my email address with an open account. How can this be when I 've been using the same email and password to access their website since my loan was transferred to this company? I have been making mortgage payments to various financial institutions for 27+ years. I 've never made a late payment and have maintained a FICO credit score above XXXX for probably that entire time. I 've never had even one problem with the servicing of my mortgage loans over the years ; until my loan was sold to Specialized Loan Servicing.
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

2016-10-22

MI

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I secured a conventional 30 year fixed mortgage for my Mother in XXXX XXXX for {$90000.00} ( less than XXXX the appraised value ) on her home here on XXXX XXXX, MI to help pay for my brother 's XXXX treatment. The mortgage was transferred to XXXX within one month and remained with them until this past XXXX XXXX when it was tranferred again to and new servicing company Specialized Loan Servicing ( SLS ). This is when the problems started. The notice of transfer was received by me on or around XXXX XXXX, XXXX XXXX weeks after the last payment was made to XXXX on the first of XXXX XXXX for the original monthly amount of {$680.00}, which included escrow amount for property taxes and hazard insurance. On or around the same time ( XXXX XXXX ) I also received a payment statement from SLS for the next payment due XXXX XXXX, XXXX, however the statement showed an additional {$30.00} late fee for a payment that was n't due for another two weeks. I contacted SLS by phone, but he representative said he could not talk to me because I was not the original borrower. However, I had been authorized by XXXX seven months prior ( XXXX XXXX ), because my Mother passed XXXX XXXX, XXXX and as sole heir I was appointed Personal Representative of my Mother 's estate by XXXX County Probate Court o in XXXX XXXX. Thus I resubmitted my Mother 's Death Certificate and relevant court documents to the new mortgage servicing company SLS. This took place in mid XXXX XXXX, but I never received a response regarding the {$30.00} late fee. Then my payment went up to $ XXXX/month and XX/XX/XXXX/XX/XX/XXXX I was notified that my monthly payment ( on my 30 year fixed rate mortgage ) was being increased by a $ XXXX month to accommodate and $ XXXX deficiency in my escrow account. When I called to inquiry I was not given any explanation because the customer service agent was not privy to any information and did not connect me with someone qualified to answer my inquiry. I double checked the Premium for the Hazard Insurance which had not increased and then I checked the local township clerk 's office for the current property tax amounts, which had actually gone down by over {$200.00} annually starting XX/XX/XXXX. I have not had a good feeling about this company since they acquired the mortgage particularly when I searched you site and found a lengthy list of complaints against SLS by individuals whose mortgages were being serviced by them. Because I have not seen any documented disciplinary actions by any regulatory agency I am also submitting this filling and supporting documentation ( including time stamped emails and faxed comumincations with SLS regarding these concerns ) with both State Attorney General 's Offices in Michigan and Georgia, the Federal Attorney General 's Office, and the FTC ) I also have the intention of submitting this to printed media ( i.e. XXXX ) and digital media ( i.e. XXXX, XXXX, XXXX, XXXX, and other pertinant blogs ) I
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

2016-10-22

Inglewood, CA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: I have been working with the servicer of my second mortgage since XX/XX/2016. They have requested the same documents over and over. I have submitted everything that they asked for with no results. I am not trying to avoid paying the debt. I just want some relief as far as the interest rate ; 9.375
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

2016-10-21

Cheshire, OR

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: No Timely Response

2016-10-21

Carol City, FL

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

2016-10-21

Phoenix, AZ

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

2016-10-21

Lakeland, FL

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: Yes Timely Response

2016-10-20

Chester, NY

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: No Timely Response

2016-10-20

Chicago, IL

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: Yes Timely Response

2016-10-19

Bountiful, UT

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

2016-10-19

Fort Pierce, FL

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: On XXXX XXXX, XXXX, I submitted a Request for Mortgage Assistance ( RMA ) application to Specialized Loan Servicing. Throughout the application process, SLS has falsely alleged that I did not submit " missing documentation '' and have repeatedly requested duplicate information. SLS obtained all the necessary information to process my application in the middle of XXXX ; however, I received a letter dated XXXX XXXX, XXXX that my application is still under review. SLS is clearly delaying the process in an attempt to foreclose on my home.
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

2016-10-19

Alta, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: 10 years ago we bought a house from XXXX XXXX and our loan was processed by them.When we took this loan it was our understanding that it was a 5 year interest adjustable mortgage with the option to renew it at the same term for another 5 years. After the initial 10 year adjustable period our loan will be fully amortized for the remaining 20 years. We took this loan in XXXX, 2006, never miss a payment, and we were ready to see how much will our payment is if it were to be fully amortized for the remaining term but I was shocked when I received the statement from XXXX XXXX who got our loan from XXXX XXXX, that we still have the adjustable rate, and the only difference is they added the principal and escrow, and our rate is adjusting every six months based on the XXXX index rate. To me, this is unfair. It was not fully explained to us when we got this loan..now that we are retired we do n't know what to do. We ca n't qualify to refinance because of our bankruptcy and with our income now, we might not qualify. If only XXXX XXXX loan people explained it to us clearly 10 years we would n't be in this predicament now. We might lose the residence that we lived in the past ten years. I believe that this was a predatory loan designed to prey on elderly people like. I know we signed the papers but it such a thick volume of papers we had to go through, so we relied and trusted the loan officer, that she had our best interest at heart and that she gave us the best loan at that time. My husband is XXXX years old and I am XXXX years old, I do n't think there are still companies out there who would hire us just for us to save our home. What I really want is for our original lender to change the term of our loan and have a 30 year amortized loan so we could afford the payment and keep our home. Our loan is transferred to a new loan servicing company, Specialized Loan Servicing LLC. Thank you for your support.
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

2016-10-18

Stockbridge, GA

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: No Timely Response

2016-10-18

Hillsdale, NJ

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: Yes Timely Response

2016-10-18

Conch Key, FL

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

2016-10-18

Clayton, MO

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: Yes Timely Response