Date Received: 2021-07-01
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have been in forbearance on my HELOC loan for over a year. My loan servicer is Specialized Loan Servicing. I was notified by Specialized Loan Servicing v ia voicemail on XXXX XXXX XXXX that my forbearance will be ending soon. This message is also in writing on my XXXX which I still have. The message indicates that I should call Specialized Loan Servicing to review my options as far as resuming payments. It also indicates in the message that if I am still experiencing hardship I should request an extension of forbearance. Actually I requested an extension of my forbearance in early XXXX, XXXX and I received a response from Specialized Loan Servicing about a week later indicating that my forbearance would be extended for another three months. Unfortunately I am away from my home and do not have the letter at the moment in my possession. I mention this because as soon as I received the voicemail from Specialized Loan Servicing on XX/XX/XXXX, I immediately called them. I have a record on my XXXX that I called them. The person I spoke to informed me that I will not be given any forbearance extension even though I told her I was under the impression due to the letter I received from Specialist Loan Servicing that I did get an approval for a forbearance extension. And again since I am not at home I could not send the letter. That said I asked the loan specialist what my options were as far as repaying my loan. She told me that I can either apply for a loan modification or have the loan payments that I didnt make while I was on forbearance deferred to the end of the loan, its either one or the other, that I can not have both. She said that if I opted for the deferral plan, it was automatic. I said I would get back shortly with my decision. On Wednesday, XX/XX/XXXX I called Specialized Loan Servicing with the intent to tell them that I would take the deferral plan. The person I spoke to was XXXX, employer ID number XXXX. XXXX told me that in contraction to what the loan specialist told me on XX/XX/XXXX that a deferral plan is not in fact automatic and that a borrower has to apply for it. This was shocking as XXXX also told me that the chances are that Specialized Loan Servicing would not have an answer as to whether I am approved for the deferral by XX/XX/XXXX which is the date that my mortgage payment is due. I reiterated that the loan specialist I spoke to on XX/XX/XXXX had told me that the deferral option was automatic and said nothing about having to apply for it. XXXX then told me that loan representatives dont always give correct information. XXXX also told me that if I dont pay all my back payments that was under forbearance by XX/XX/XXXX my credit report would be immediately marked late for a period of 450 days. But I told him that I was told that a deferral was automatic. Then XXXX said to me, and I quote Dont worry about your credit report, worry about being foreclosed upon. Upon hearing this I was besides myself, I could not believe what I was hearing. I told him I will wait to hear back from Specialized Loan Servicing about them approving me for a deferral, XXXX also told me that my existing interest rate on my loan was at 2 %, but then said in XXXX of XXXX the rate would increase to 4.125 %. This too was quite a surprise. However while I was speaking to XXXX I logged onto my online account with Specialized Loan Servicing and my most recent loan statement indicated that my existing rate on my loan was 4 %. I told this to XXXX who at first told me I was wrong then finally had to acknowledge I was correct. But I was very upset and about XXXX minutes later I called Specialized Loan Servicing and I spoke to a loan specialist who said her name was XXXX. XXXX told me that my credit report would not be marked late if I didnt pay back all my back payments while on forbearance on XX/XX/XXXX but insisted that the loan specialist that I spoke to on XX/XX/XXXX could never have told me that a deferral is automatic. She immediately checked the transcript of my conversation that I had with the loan specialist and acknowledged that the loan specialist did in fact indicate that the deferral was automatic. That said XXXX told me that this was incorrect and that my approval for a deferral depends on whether the investors who own my loan will approve the deferral. This seems in contradiction to the information listed on the Specialized Loan Servicing website which indicates that a deferral is one of the options for a borrower that has been in forbearance which is about to end. I am attaching a screenshot of this information that is on the website. To sum up, the loan representatives that I spoke to were not very knowledgeable and one went as far as to mention I should worry about being foreclosed upon. This is indeed outrageous. Up until I applied for forbearance I always made my loan payments to Specialized Loan Servicing on time. But the pandemic has been very difficult for me, I am soon to be XXXX years of age. I am requesting that Specialized Loan Servicing grant me my deferral as mentioned on their website as one of the options as part of the repayment plan. They also should have more knowledgeable loan specialists that should be made aware that many people have experienced a very difficult time this past year and providing incorrect information is very unacceptable.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-07-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This was a XXXX XXXX XXXX that was purchased by Specialized Loan Servicing with escrow in place for taxes and insurance. Specialized Loan Servicing let my hazard insurance expire for several months after become due, then charged me for lender placed insurance at almost three times the expired policy rate without notice. Then after I purchased my policy they added the prorated amount paid to my escrow increasing my monthly payments by over 25 %.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33032
Submitted Via: Web
Date Sent: 2021-07-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-30
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: My mortgage servicer, Specialized Loan Servicing has reported an increase in my mortgage balance to the credit bureaus for the THIRD TIME since I have been on a forbearance plan with them. On XX/XX/2021 Specialized Loan Servicing reported to XXXX and XXXX that my mortgage balance is {$120000.00}, an increase of {$9000.00}. This, like the previous reported increases, has had a very negative effect on my credit. My billing statement from Specialized Loan Servicing dated XX/XX/2021 shows a balance of {$110000.00}. I filed a complaint with CFPB the second time Specialized Loan Servicing reported an increase on my mortgage dated XXXX XXXX XXXX complaint # XXXX. I reserve any and all rights to seek legal action in this matter.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AK
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-06-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-29
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Specialized Loan Servicing ( SLS ) has been sending me notices regarding an alleged debt ( see attached ). I have sent numerous requests to them to prove up the validity of the debt and produce accounting records via qualified written request ( QWR ). SLS did not respond to my specific demands. Most recently, I have requested that SLS send a payoff demand and produce the rights to release the alleged lien. Their failure to respond to all of my requests has interfered with the ability to sell my home. SLS. SLS assumed the servicing rights from XXXX XXXX XXXX, who also would not respond to QWR requests. XXXX is in violation of numerous FDCPA, HUD and RESPA laws. I am seeking your assistance on this matter before I proceed with litigation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 217XX
Submitted Via: Web
Date Sent: 2021-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX, XXXX, and payments ... I have sent payment after payment to the XXXX XXXX XXXX time after time for them to keep sending the payment back to me because they claim a payment was returned for insufficient funds ( which is not the case ). Nevertheless, they have sent each payment back to me for no reason and now I am getting nervous because they are making me behind I have the funds, but they will not apply it to my mortgage ... which is making me think they want me to lose my house. I have sent cashiers checks and money orders and they keep sending those back to me as well ... I have the proof. What is there for me to do??? Any help is greatly appreciated. One of the customer service reps stated they were not in the business of returning payments ... I said ... '' you could have fooled me! ''
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MO
Zip: 64134
Submitted Via: Web
Date Sent: 2021-06-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-25
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: SPECIALIZED LOAN SERVICING HAS FAILED TO VERIFY THIS ALLEGED DEBT, BY COMMITTING CRIMINAL ACTS OF FORGERY AND ALTERING DOCUMENTS TO COLLECT AN UNJUST ENRICHMENT. NUMEROUS REQUESTS TO PROVIDE A CERTIFIED COPY OF ORIGINAL NOTE/ HOME EQUITY LINE AGREEMENT AND DISCLOSURE STATEMENT HAVE NOT BEEN PROVIDED, SPECIALIZE LOAN SERVICING RESPONDS BY SENDING INFORMATION THAT DOES NOT PERTAIN TO REQUEST AND AVOIDS THE REAL ISSUE SPECIALIZED LOAN SERVICING CONTINUES TO INFLATE ALLEGED BALANCE BY ADDING UNJUSTIFIED AMOUNTS THAT THEY HAVE NOT PROVEN THE RIGHT TO DO SO.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-06-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-24
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX I received a foreclosure notice from the mortgage company. I called them and they stated that I have a foreclosure date on XX/XX/XXXX and I need to pay the full amount due to reinstate my loan. They offered to run my information for a loan modification which would require a 3rd of the amount of the reinstatement amount as a down payment if it is approved. They also advised I would receive a call and email from my Representative to let me know the progress. I did not receive the email, mail or a phone call. I called again and spoke with XXXX on XX/XX/XXXX who then told me that the Foreclosure was cancelled and that she was setting me up for a repayment plan and I would receive the information in an email. I still have not received anything. So I called again today and spoke with 3 different representatives, who told XXXX is out for the next few days, but that a repayment plan is not available. They all confirmed their is no sale date but no other information matches and they will not send me anything in writing. I need to know if my house is on the foreclosure list and I need the sale stopped. I need this loan charged off and the deed to my house. I am willing to settle but I deserve the truth. I have a family and I can not be out on the street because a mortgage is playing games with my life. Mortgage Company Specialized Loan Servicing
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48198
Submitted Via: Web
Date Sent: 2021-06-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: In XXXX of XXXX, we began the process of completing a mortgage modification package with Specialized Loan Servicing, the company that currently services my loan. During this process i have completed at least 5 applications in an attempt to give the property back to the back. Each time their was a significant delay ( 2-3 months ) with the company reviewing my file - the have consistently asked for proof of income, bank statements etc and each time I provide them with the requested documents but their is always a reason why they can not process the paperwork. Their was a second mortgage on the property and i was told that I needed paperwork from the second lender after waiting over 6 months for a response that say they would settle the loan for a reduced amount. Then once I got that, I was told that they could not process my application because I had a second lien on the property and it needed to be removed and they would not settle with the second lien holder. By this time, the 2nd lien holder released the lien, this was in XXXX of XXXX and I was told I needed to complete yet another application ( this was the 3rd one ) and had to begin the process all over. Then I was told that the property was not in broom sweept condition so, I hire a company to clean the house and to remove the items in question in XX/XX/XXXX. They then told me that the system closed out my application automaticly because it took too long to resolve. So, i had to complete another application ( each time having to wait several months for them to review ). Application # 4 was submitted. Then I was told that they could not open my file up because someone on the staff closed out my file by accident. I had to complete a 5th application and still have not heard back about my account which has been pending since XXXX of this year. I called every week, several times a week and finally in XXXX I was told that their was a tree stump and some branches near the central air unit outside that needed to be remove and that they would not close untill it was done. I sent the company I hired back over to the property and they took a picture for me ( I am out of state ) and their was no tree stump or branches near the central air unit. I called again and told them this, I was told they needed to do another inspection on XXXX and it still has not be done. It has been over 2 years since I begin working with the company and they have tried every dirty trick in the book. In the meantime this is hurting my credit each month that it is being reported and interest is continuing to grow over the past 2 years that i can responsible for. I need your assistance with resolving this as I have been more than patient with this company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2021-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have an FHA Loan, the investor is XXXX XXXX and its serviced by the Mortgage Servicer Specialized Loan Servicing LLC ( owned by XXXX ). I was economically impacted by COVID-19 and I requested Forbearance before XX/XX/XXXX. Then extended it twice. My Forbearance is about to end in XX/XX/XXXX and I have communicated with the Mortage Servicer about 12 times in writing, and by call, to go over my options at the end of Forbearance. The total Forbearance amount is around {$30000.00}. Which I'm unable to afford. I specifically asked for deferral of the owned amount to the end of the Loan or putting them in a subordinate lien payable when I refinance, and I spoke with several people about this at SLS, they all replied that the Loan Owner / Investor ( which is XXXX XXXX ) does not offer that option. And the only option I have right now is to pay it all in a Lump Sum or apply for a Loan modification which is inevitably hurt my credit. The Mortgage Servicer is not approving a repayment plan, either. So I'm left without options. They should be able to offer more options than just Lump Sum re-payment. I hope you can help, thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33145
Submitted Via: Web
Date Sent: 2021-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-06-23
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am a XXXX XXXXXXXX that work for the state of New Jersey during the entire pandemic at a residential home for the Developmentally Delayed. I was forced to apply for forbearance during the COVID 19 crisis due to decrease in work hours from my part-time job. When I finally was able to start paying my mortgage due to increase in work hours, I sent a payment to my mortgage company 's loan servicer Specialized Loan Services on XX/XX/2021 and the amount was returned I was told they need the entire 6 months paid. I did not have the amount and requested to refinance. They told me that they were not a refinancing company and I had to find one on my own, which I did. However the process took a while but I was able to pay the entire amount owed in order to get the lower interest rate with the refinancing. I am XXXX years old, planning retirement and want to down size but I can not get a lender to pre-approve me as Specialized Loan servicing has recorded that period of arranging a new refinancing company to take the loan over as credit default, thus preventing me from getting a home that I can afford when I retire. Please help me to get the credit demerit deleted. I will highly appreciate that.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 08043
Submitted Via: Web
Date Sent: 2021-06-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A