Date Received: 2021-04-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We are buying a new house and the mortgage company is requiring the following documentation to proceed - Condition Description Provide documentation from XXXX XXXX XXXX showing full principal balance from home equity loan # XXXX was transferred into new installment loan account # XXXX. Date Assigned XX/XX/XXXX Condition Status : Required I have spoken with XXXX XXXX XXXX and Specialized Loan Servicing 4 times each. The documentation needed is from XXXX XXXX. XXXX XXXX XXXX tells me since loan servicing was transferred to Specialized, I have to request from them. However, when I speak with Specialized they tell me they can not provide since this is before they took over the loan ( XX/XX/XXXX ) and they refer me back to XXXX XXXX XXXX. Ive spoken with XXXX XXXX XXXX Back Office Team and they tell me that they don't have access to those records because of the transfer to Specialized and that Specialized has to help me. I requested loan history documents twice ( XX/XX/XXXX and XX/XX/XXXX ) from Specialized but still haven't received them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 322XX
Submitted Via: Web
Date Sent: 2021-04-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-04
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Specialized Loan Servicing, we were told on XXXX that we could payoff our Mortgage via phone in the amount of {$830.00} by XXXX. He informed us that since it was under {$1000.00} we could do the transaction over phone. Confirmation # XXXX. On XXXX we received a call from XXXX to inform us that they made a mistake and paid our XXXX taxes. For the next 7 months we contacted company over and over to rectify the error and they kept asking for more money than we owed. Interest & late fees. On XXXX we sent a letter to Dispute Department and copied CFO, CEO, COO, CRO, CIO, PRESIDENT AND CLO. Response received saying they did not make mistake. They have posted 6 late payments on our credit reports.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 088XX
Submitted Via: Web
Date Sent: 2021-04-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Our HELOC loan was transferred from the current lender to another lender. The new lender is using Specialized Loan Servicing to collect payments and service the loan. The statement we received for XXXX showed a payment due amount of XXXX, We were currently trying to refinance our first mortgage. We have waited on Specialized Loan Servicing for 3 months to register the deed with our county. They still have not. We were finally told their lender would not subordinate the loan and remain in second place on the deed. We made the decision to payoff this HELOC and refinance the first mortgage. The statement we received for XXXX showed a XXXX payment due. Since the decision had been made to payoff this loan and we had the payoff amount from Specialized Loan Servicing, we did not make any payment for XXXX. Keep in mind the payment amount due was XXXX! They contacted us on XX/XX/XXXX and wanted to know when we were going to make our payment of {$64.00} due on XX/XX/XXXX!!! The caller stated there was a past due amount and a {$25.00} late fee had been accessed. How can a late fee be accessed and a past due amount on a negative {$4.00} balance? Im confused!! Again today, XX/XX/XXXX, we received a phone call from SLS about the past due amount of as the caller stated {$4.00}. She failed to mention or notice it was negative {$4.00}!!! We were going to pay the penalty of {$500.00} to close this early due to the way SLS has handled the entire transfer over the last 3 months. Now, we should not have to pay the penalty, due to the repeated phone calls about a NEGATIVE payment due of {$4.00}!! The account is being closed and paid off because of the failure of SLS to conduct business with integrity.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 302XX
Submitted Via: Web
Date Sent: 2021-04-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-01
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have a second mortgage on my home with XXXX XXXX, which is being serviced by Specialized Loan Servicing. I have never been late on a payment. In XX/XX/XXXX, they put the account in forbearance as a result of Covid-19 and our national pandemic and have since misrepsented the truth, and lied. I have always paid as agreed, and followed their instructions exactly as directed. Despite these facts, Specialized Loan Servicing has mishandled my loan, and is threatening my credit rating. The details are below : My income was effected due to Covid-19, and I contacted Specialized Loan Servicing ( SLS ) at the end of XX/XX/XXXX to inquire about available options as prompted by their website. My telephone conversation, and all subsecquent others, were recorded with my consent. I was advised that my account would be placed in forbearance, and that option was available for up to one year, at which time the payments would be deferred to the end of the loan, and they stated my credit would not reflect any late payments. During this conversation I explained that I am very concerned about doing anything that would adversely effect my credit score, as I am required to have perfect credit to maintain my employment status, and was assured that my credit would not be adversely effected as the forbearance was available due to Covid-19. I continued to receive statements showing the payments that were due once the loan was in forbearance. Due to my concerns about my credit, I contacted SLS. When I inquired as to why I was receiving these statements, the representative explained that although the account was showing it was in forbearance, they would continue to send those statements in the event that I wanted to make a partial or full payment, and to document the amount of payments that would be added at the end of the loan once the account came out of forbearance. Because my credit rating is crucial to my remaining employed, I called at least 6 more times during XXXX to ensure there wouldn't be a problem. These calls are all recorded. I was assured I was in compliance and not considered late on any payments, and my credit would not be effected. In XX/XX/XXXX, I contacted SLS and explained that I was ready to resume payments on my mortgage, and that I would like to attach the payments that were in forbearance to the end of my loan. The representative explained that she would be submiting an application to defer the payments and attach them to the end of the loan, and took my information over the phone. During this conversation, I reiterated that my credit rating is really important, and I would not want to do anything that would cause an adverse effect to my score. The representative assured me that as my income was in line with the loan, and I was following the correct steps I should have nothing to worry about, and that she had never seen a deferral be declined. I was told to wait for new loan information to come to the house. While I waited for the loan information to arrive, at the end of XXXX I received several notices from SLS stating my mortgage was severely delinquent, and I needed to either pay all of the payments that were in forbearance or contact them for options. I called and spoke with their representative and was told the documents I was waiting for were being processed, and the notice was automatically generated. I was told to disregard the notice. When I received an additional notice stating my mortgage was severely delinquent and all of the payments that were included in the forbearance were due, my wife called SLS. The representative she spoke with also assured her that the notices were automatically generated and we should disregard them. In early XXXX I received a 19-page document dated XX/XX/XXXX detailing the options that were approved for my loan. To my surprise, I was offered a loan modification that lowered the current interest rate from 8.69 % to 2.949 %. This changed the monthly payment from {$850.00} to {$500.00}. I did not ask for this modification, and was surprised the bank decided to offer a discounted interest rate. As the document was very large, and so many of the previous notices contained information that we were told to disregard, my wife contacted SLS on XX/XX/XXXX and spoke to XXXX. My wife wanted to make sure we understood how to accept the option available, and that it was not going to adversely effect my credit rating. She was assured that as long as she paid the first payment by XX/XX/XXXX via XXXX XXXX, as directed, and paid the payments due in XXXX and XXXX on time, that we were in compliance with the new loan modification, and would receive new paperwork to sign shortly after the XXXX payment was received. My wife made the first payment on XX/XX/XXXX, while on the phone with XXXX, who instructed her to send a copy of the XXXX XXXX receipt to a specific email address to ensure the payment would be acknowledged as sent and applied to my account in a timely manner. On XX/XX/XXXX, I received another letter stating my account was severely delinquent and I needed to pay all of the payments that were in forbearance, or contact SLS for options. My wife called and spoke with XXXX, who assured her this is standard and must have crossed in the mail with the new paperwork. She was advised to disregard the notice. On XX/XX/XXXX, I went to the SLS website to confirm my payment was credited to my account. The account was showing as severely delinquent, with the payment sent via XXXX XXXX posted as unapplied funds. My wife called and spoke to XXXX who advised her that the account hasn't been updated yet, and she should not worry. My wife told him that we have received the same answer everytime we call in, but everything in writing is very different. She wanted something in writing stating what has been agreed to and discussed over the phone. XXXX said the representative in charge over my loan is XXXX, and he would transfer her to that department. Then she was disconnected. My wife called back three times that day until she was able to connect to XXXX 's department. She spoke to a representative named XXXX, who initialy explained that the statements are automatically generated and as long as we paid the first payment of the modification, that we didn't need to worry. My wife told her she would like something in writing to state what had been discussed verbally, as she continued to get the same answers on the phone, but the notices that came in the mail were very different and quite concerning. That's when XXXX placed her on hold, and came back stating the notices I received were actually correct, as the modification wasn't completed yet. She also stated that the investor declined a deferral for the payments in forbearance and offered a modification instead. XXXX stated my credit would reflect several months of being delinquent while the new loan was in process. My wife explained that this is not in any way what I wanted or agreed to. When she reiterated that my employment is dependent on my credit rating, XXXX asked if she was then declining the loan modification. My wife responded that what she wanted was to ensure I remain in good standing, and that my credit report stays in tact as was agreed during the numerous calls prior to talking with XXXX. XXXX stated that I should contest the negative entry on my credit rating. XXXX asked again if we were declining the modification. XXXX stated that I needed to use the letter contained in the 19-page packet sent on XX/XX/XXXX to ask for a reconsideration of the deferral if I was refusing the modification, or pay the entire past-due amount. My wife went through the packet while XXXX was on the phone and explained there was no such letter in the packet. XXXX was hostile, agressive, and not helpful in any way, so my wife asked to speak with a supervisor and explained that she would be filing a formal federal complaint. XXXX offered my wife the option of paying the remaining payments due for the trial modification, XXXX and XXXX, at that time to expedite the loan modification paperwork, but advised it would take approximately 30 days to get that paperwork generated as they had to ensure the escrow amounts are correct. My wife explained there is no escrow account associated with this loan as its a second mortgage. My wife paid the payments for XXXX ( confirmation # XXXX ) and XXXX ( confirmation # XXXX ), therefore fulfiling the payment requirements for a trial modification in an effort to preserve my credit rating until we could get everything straightened out, and the terms I agreed to executed. My wife again stated that she wanted to speak with a supervisor. XXXX stated that she was unable to transfer her to a supervisor, and one would be calling within 24 to 48 hours of their conversation. My wife canceled appointments for the next two days to ensure she did not miss that call. That phone call never came. Today, I went to the SLS website to check on the status of my account. The account still shows as severely delinquent, the next payment is listed as due XX/XX/XXXX despite my wife having made the XXXX payment on the phone with XXXX, and the payments my wife made are either showing as having been applied to another payment or listed as, " unapplied funds forbearance. '' We made the XXXX trial modification payments for a total of {$1500.00}, however, the total shown as unapplied is {$660.00}. The payment showing due for XX/XX/XXXX is for the original amount of {$850.00}, with a total amount due of {$9700.00}. Nothing is what was ever discussed or agreed to. I am deeply concerned about my credit rating and my ability to ensure the terms I agreed to are put into writing and executed without the supervision of the Consumer Financial Protection Bureau. I would like XXXX XXXX to do what Specialized Loan Servicing originally said they would do, and what I agreed to do ; to attach the payments that were in forbearance to the end of my loan and to continue to report my account as current and paid as agreed, as I have done absolutely everything I agreed to do. If that means forfeiting the lower interest rate, I am willing to do so. I question if the investor was ever even contacted regarding the deferral, as the other option substantially cuts the return on their investment. My credit rating is vital for my employment, and my continued ability to pay my bills. I would never have agreed to anything that would put that in jeopardy. I have a large family who depends on me and there is no way I would do anything that would prevent me from being able to provide for them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30004
Submitted Via: Web
Date Sent: 2021-04-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX XXXX received my mortgage payment in the amount of {$2200.00} for the full month of XXXX, XXXX and first half of XXXX, XXXX. Of this amount, {$750.00} was put into curtailment. On XX/XX/XXXX, XXXX received from me, another month and one half mortgage payment of {$2200.00} to include XXXX, XXXX. Therefore, as of XX/XX/XXXX, I was one full month of mortgage payments in advance. Having paid {$2200.00} on XX/XX/XXXX and again on XX/XX/XXXX. However, XXXX, misappropriated a half month payment of {$750.00} to curtailment on XX/XX/XXXX, and NEVER corrected this error, subsequently causing inaccurate accounting and reporting of my account as delinquent, in my trail mortgage modification period. XXXX records show curtailments of funds occurred a total of five times as follows : XX/XX/XXXX - {$750.00} XX/XX/XXXX - {$750.00} XX/XX/XXXX - {$760.00} XX/XX/XXXX - {$760.00} XX/XX/XXXX - {$750.00} However, ALL of these amounts were not applied to the mortgage when the payment was full month. I want : 1. An AUDIT of my payment history and an accounting of all curtailments from XX/XX/XXXX until XXXX, XXXX. 5 curtailments were used to subvert funds and XXXX records demonstrate only 3 corrections. XXXX improperly applied 1 month of funds to principal by diverting my payments to curtailments which were never properly refunded. I want all 5 payments subverted into curtailments applied accurately to my payments. When I resume mortgage payments on XX/XX/XXXX, I expect to be 1 month in advance of payments.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NE
Zip: 681XX
Submitted Via: Web
Date Sent: 2021-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-31
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I received a request for payment on a loan from Specialized Loan Servicing hereinafter referred to as " SLS '', in XXXX, my wife actually made a payment being concerned about damaging my credit. Upon further digging/investigating I could not find the origin of this loan and promptly reached out to customer service with SLS. In XX/XX/XXXX I received the attached two documents from SLS and at point closed the file. Fast forward to XXXX and I began to receive notices of default from SLS ; I have made several attempts for SLS to update their records to no avail ; now they are sending me notices that I have requested a loss mitigation assistance and that they're either " reviewing '' my request or please to resubmit my request ; neither which I have ever done or made request to have done.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 330XX
Submitted Via: Web
Date Sent: 2021-04-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-30
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: On XX/XX/XXXX, while reviewing my XXXX credit, I noticed my mortgage company, Specialized Loan Servicing ( SLS ), shows my loan terms as 600 months. I did not sign any documents with SLS to change the terms of my loan. However, my credit report shows that the term with XXXX XXXX was 360 months. Additionally, SLS 's credit reporting shows that my mortgage account was opened with them on XX/XX/XXXX, but they were not my mortgage company until XX/XX/XXXX when XXXX XXXX transferred it to them. I have sent a message to SLS to address this matter but have not received a response. Also filed a dispute with XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 206XX
Submitted Via: Web
Date Sent: 2021-03-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-29
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: My Home loan was originally serviced by XXXX XXXX XXXX in XXXX. My original loan was XXXX. XXXX packaged the loan with a HELOC for XXXX and all payments were through them directly. In XXXX I refinanced my property with XXXX and was told there were no additional obligations. Later in XXXX, I began to receive calls from SLS for payment and threating against my property. I have attempted to settle this matter directly by phone and agreed to send them a check in the amount of XXXX. I was told by one of there representatives that loan was to pay against a check that was sent to me for home equity. I have never requested or received any money. In addition, I found out the part of my land was no longer mine. I have attempted a lawyer but this company is still contacting me and has even attempted a foreclosure. 1.Specialized Loan Servicing is attempting to collect on a loan without showing proof of ownership for the loan. 2. SLS is responsible for selling a loan whereas the description of the property does not match the loan documents. 3. XXXX failed to pay my property taxes from escrow. SLS now represents this company and has caused me to lose part of my property in a tax sale due to failure to pay property taxes on property they financed me. 4.SLS has costed me XXXX in loss of property and income. 5. SLS did not send out regular payment schedule and waited years later to quote me different balance amounts inconsistently. 6. SLS did not send me statement for years and now are attempting to collect which has exceeded the Statue of Limitations. The original loan is XX/XX/XXXX. 7. SLS has attempted to foreclose on the remaining property described in my loan that is being serviced by XXXX XXXX loan XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 36117
Submitted Via: Web
Date Sent: 2021-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is my second complaint about this mortgage company. My original mortgage was sold by XXXX XXXX to SLS Mortgage and has been a nightmare because SLS Mortgage is so incompetent, no one can answer any questions or give a legitimate reason for any wrong transactions that they do. Two months ago I received a letter stating my mortgage went up from $ XXXXmonthly to over $ XXXX monthly which is due because of an error that SLS mortgage made, they are saying that I have a {$3000.00} shortage which I have never had in the history of my mortgage. I contacted them, stayed on the phone for 1 hour and 40 minutes being transferred from one department to another and no one could understand or resolve. The problem is they paid my homeowners insurance twice in XXXX and I was also paying, I had contacted them and told them that I was paying my own homeowners insurance because I do not trust this company. However, they made a payment on XX/XX/XXXX for {$1600.00} and on XX/XX/XXXX they paid an additional {$2100.00} for my XX/XX/XXXX homeowners insurance which is not due until XX/XX/XXXX, who does that? What reputable company would do anything like this? Why would I want to pay my homeowners insurance before it is due? No one seems to understand that they have made a mistake and keep telling me my Escrow is short. I contacted XXXX XXXX which is my homeowner 's insurance and ask them to return the payment to SLS Mortgage which they said that they would. Also, I had been paying monthly deductions for my homeowner insurance from my bank account so I don't understand why they would pay any of it at all. When I changed insurance SLS called and asked if I had homeowners and I stated yes, I am paying it myself because you all are incompetent so please do no pay. Now, my mortgage account is calculated wrong and in a mess and I have continued to make the payment I was making before the increase and they don't want to understand and correct their mistake. My account has been current and paid on time until this fiasco. I don't know how they are license to still be in business, this is a crooked operation, and all the reviews on their website are only negative reviews. Can someone please investigate this bootleg company? No one you speak to can explain anything, why should I have to call XXXX XXXX they made the mistake and that should have been the first thing that was done and they made the payments with a credit card, what company does that? Can you all do an investigation on SLS Mortgage because this seems to be a sure way to take my home in foreclosure since they are asking me to pay an additional {$2200.00} in escrow shortages? XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30311
Submitted Via: Web
Date Sent: 2021-03-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-03-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: At some point in early XXXX I contacted XXXX XXXX to inquire about a less costly home owners policy. The normal prerequisites were supplied and was rejected by me in an E-Mail dated XX/XX/2012. XXXX am. All action by XXXX showing my acceptance occurring on XXXX XXXX ( XX/XX/XXXX is a Sunday?? ) one day before my rejection E-Mail dated XX/XX/XXXX, which is attached. I did not sign or initial anything XX/XX/XXXX or at any other time. A premium for the this homeowners insurance was deducted from my escrow account by Specialized Loan Servicing, XXXX XXXX XXXX XXXX, XXXX XXXX, CO. showing a payment dated XXXX, XXXX ( SUNDAY?? ) to XXXX XXXX for {$1400.00}. SLS knew I had another active policy with XXXX. Unknown by me, XXXX was continued and {$1800.00} was paid from my escrow on XX/XX/XXXX for renewal by S.L.S. I now have two HO policies, resulting in an large increase in escrow payments and therefore a large increase in my monthly payments. The XXXX payment shows this as occurring on XX/XX/2012 ( again this is Sunday XXXX which was one day ahead of XXXX receiving my rejection. The XXXX agent who handled this was XXXX XXXX, XXXX XXXX XXXX, XXXX, NC XXXX I am XXXX years old and my only income is Social Security, the increased payments push my monthly payments out of reach with the possibility of future foreclosure.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 27549
Submitted Via: Web
Date Sent: 2021-03-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A