Date Received: 2023-11-08
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: Dear CFPB, I am writing to file an urgent complaint against my mortgage servicer, SLS Mortgage, regarding their refusal to release funds necessary for the repair of my property. My name is XXXX XXXX, and my mortgage account number with SLS Mortgage is [ Your Mortgage Account Number ]. On XX/XX/2022, my property suffered significant damage due to flood, resulting in an insurance loss. I promptly submitted all required documentation, including estimates and bills from the contractor responsible for repairing my home. However, despite providing all necessary information, SLS Mortgage has refused to release the funds required for the repair work. This situation has left me and my XXXX son in an extremely vulnerable position, facing the prospect of homelessness. Despite my numerous attempts to resolve this matter with SLS Mortgage directly, they have been unresponsive and uncooperative. I kindly request your urgent intervention in this matter. I urge you to investigate the actions of SLS Mortgage and ensure that they release the necessary funds to cover the repair costs as outlined in the submitted documentation. Time is of the essence, and the delay in releasing the funds is causing severe distress and hardship for my family. I appreciate your immediate attention to this pressing issue. Please do not hesitate to contact me at [ Your Phone Number ] or [ Your Email Address ] if you require any further information or clarification. Thank you for your assistance
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-11-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-08
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: Specialized Loan Servicing continues to try and collect an alleged debt that is not owed. Under the XXXX when a consumer who signed a simple contract presents legal tender and it is refused under federal law the debt is discharged. Specialized Loan Service did not actually loan anything of value to me therefore there is no loss. If they have proof of loaning me money please provide me with the ORIGINAL book entry for this consumer transaction. 3-203. TRANSFER OF INSTRUMENT ; RIGHTS ACQUIRED BY TRANSFER. Primary tabs ( a ) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument. ( b ) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course, but the transferee can not acquire rights of a holder in due course by a transfer, directly or indirectly, from a holder in due course if the transferee engaged in fraud or illegality affecting the instrument. ( c ) Unless otherwise agreed, if an instrument is transferred for value and the transferee does not become a holder because of lack of indorsement by the transferor, the transferee has a specifically enforceable right to the unqualified indorsement of the transferor, but negotiation of the instrument does not occur until the indorsement is made. ( d ) If a transferor purports to transfer less than the entire instrument, negotiation of the instrument does not occur. The transferee obtains no rights under this Article and has only the rights of a partial assignee. 3-601. DISCHARGE AND EFFECT OF DISCHARGE. ( a ) The obligation of a party to pay the instrument is discharged as stated in this Article or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract. ( b ) Discharge of the obligation of a party is not effective against a person acquiring rights of a holder in due course of the instrument without notice of the discharge. 3-602. PAYMENT. ( a ) Subject to subsection ( b ), an instrument is paid to the extent payment is made ( i ) by or on behalf of a party obliged to pay the instrument, and ( ii ) to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under Section 3-306 by another person. ( b ) Subject to subsection ( e ) a note is paid to the extent payment is made by or on behalf of a party obliged to pay the note to a person that formerly was entitled to enforce the note only if at the time of the payment the party obliged to pay has not received adequate notification that the note has been transferred and that payment is to be made to the transferee. A notification is adequate only if it is signed by the transferor or the transferee ; reasonably identifies the transferred note ; and provides an address at which payments subsequently can be made. Upon request, a transferee shall seasonably furnish reasonable proof that the note has been transferred. Unless the transferee complies with the request, a payment to the person that formerly was entitled to enforce the note is effective for purposes of subsection ( c ) even if the party obliged to pay the note has received a notification under this paragraph. ( c ) Subject to subsection ( e ), to the extent of a payment under subsections ( a ) and ( b ), the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under Section 3-306 by another person. ( d ) Subject to subsection ( e ), a transferee, or any party that has acquired rights in the instrument directly or indirectly from a transferee, including any such party that has rights as a holder in due course, is deemed to have notice of any payment that is made under subsection ( b ) after the date that the note is transferred to the transferee but before the party obliged to pay the note receives adequate notification of the transfer. ( e ) The obligation of a party to pay the instrument is not discharged under subsections ( a ) through ( d ) if : ( 1 ) a claim to the instrument under Section 3-306 is enforceable against the party receiving payment and ( i ) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or ( ii ) in the case of an instrument other than a cashier 's check, teller 's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or ( 2 ) the person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument. ( f ) As used in this section, " signed, '' with respect to a record that is not a writing, includes the attachment to or logical association with the record of an electronic symbol, sound, or process to or with the record with the present intent to adopt or accept the record. 3-603. TENDER OF PAYMENT. Primary tabs ( a ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. ( b ) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates. ( c ) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument. 3-604. DISCHARGE BY CANCELLATION OR RENUNCIATION. Primary tabs ( a ) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument ( i ) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party 's signature, or the addition of words to the instrument indicating discharge, or ( ii ) by agreeing not to sue or otherwise renouncing rights against the party by a signed record. ( b ) Cancellation or striking out of an indorsement pursuant to subsection ( a ) does not affect the status and rights of a party derived from the indorsement. ( c ) As used in this section, " signed, '' with respect to a record that is not a writing, includes the attachment to or logical association with the record of an electronic symbol, sound, or process to or with the record with the present intent to adopt or accept the record. 8-501. SECURITIES ACCOUNT ; ACQUISITION OF SECURITY ENTITLEMENT FROM SECURITIES INTERMEDIARY. ( a ) " Securities account '' means an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comprise the financial asset. ( b ) Except as otherwise provided in subsections ( d ) and ( e ), a person acquires a security entitlement if a securities intermediary : ( 1 ) indicates by book entry that a financial asset has been credited to the person 's securities account ; ( 2 ) receives a financial asset from the person or acquires a financial asset for the person and, in either case, accepts it for credit to the person 's securities account ; or ( 3 ) becomes obligated under other law, regulation, or rule to credit a financial asset to the person 's securities account. ( c ) If a condition of subsection ( b ) has been met, a person has a security entitlement even though the securities intermediary does not itself hold the financial asset. ( d ) If a securities intermediary holds a financial asset for another person, and the financial asset is registered in the name of, payable to the order of, or specially indorsed to the other person, and has not been indorsed to the securities intermediary or in blank, the other person is treated as holding the financial asset directly rather than as having a security entitlement with respect to the financial asset. ( e ) Issuance of a security is not establishment of a security entitlement.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94513
Submitted Via: Web
Date Sent: 2023-11-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-08
Issue: Trouble during payment process
Subissue: Payment process
Consumer Complaint: On XX/XX/XXXX I sent a check to SLS to pay down my line of credit. I sent it over night. It was for {$240000.00}. SLS received it on XX/XX/XXXX at noon. I called Tuesday XX/XX/XXXX XXXX to see why it was not posted. The rep for SLS said they received and sent it back. XXXX asked why? she said her supervisor said I sent it to the address for payoffs. I said on the back of the mortgage statement it says all payments mail and gives a po box . Right under it, it says overnight payments mailed and gives an address. It does not say anything about payoffs. No one from SLS called me, they just sent it back. I asked to speak to a supervisor and she said one would call within XXXX hours. no one called. I called today and they said someone would call me by Friday the XXXX. I am now going to pay them off. This is not how customers need to be treated. I think they should back my payment to Friday XX/XX/XXXX when received. I would be happy to send you a copy of my statement. I guess they make up the rules has they go along. I in good faith paid to send it overnight because I did not want it to get lost in the mail. Now I don't know where that large check is.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 342XX
Submitted Via: Web
Date Sent: 2023-11-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-07
Issue: Struggling to pay mortgage
Subissue: Foreclosure
Consumer Complaint: Wrongful Foreclosure. Problem began in XXXX when we did a same-company refinance of the mortgage on our primary, single family residence in XXXX XXXX XXXX NY with XXXX XXXX XXXX XXXX THEY MISREPRESENTED THE REFINANCE LOAN TO US. Because of lower interest rates at the time, we wanted to take money out of our home to pay-off higher interest credit cards, while keeping our monthly mortgage payment the exact same. XXXX agent said no problem. So, we refinanced, only later finding out that, to keep the monthly mortgage payment the same, they ( XXXX ) were no longer taking out escrow. Hence, we were shocked when we received a real estate tax bill from the XXXX XXXX XXXX requesting payment. Penalties then began to accrue as we didnt have the resources to pay the taxes. Upon contacting XXXX, they subsequently paid the tax bill, reimbursed us the penalties levied by the town and re-wrote the mortgage, of which the monthly payment was now unaffordable. We tried to make the payments, but by XXXX we fell over two months behind. By then, because of the mortgage crisis and banking debacle, XXXX was bought out by XXXX XXXX XXXX ( XXXX ). So, in XXXX when we discovered we were eligible for the Making Home Affordable program we applied. In a subsequent preliminary letter, XXXX informed us of our approval for the program, but never mailed us confirmation. Repeated inquiries were met with, were still processing the paperwork. Only then later to be told, Oops! We ( XXXX ) made a mistake. You were NOT approved. Over the next two years we went back and forth with XXXX, even requesting help from the XXXX Attorney Generals office. But all fell on deaf ears. Each time we contacted XXXX, it was a different story, and the left hand didnt know what the right hand was doing. Over the ensuing years, our mortgage was sold several times first to XXXX XXXX XXXX, then to XXXX XXXX and then finally to XXXX XXXX XXXX all the while being administered by Specialized Loan Servicing ( SLS ). During this time, my wife and I continued to try and pay the same trial monthly payment as offered by Bank XXXX XXXX in XXXX $ XXXX to SLS. Sometimes the checks were cashed by SLS, other times they were returned, uncashed. And now, as of XXXX XXXX, we have been served with papers for FORECLOSURE on our home. We know we can not live in our home for free, and want to resume payments for the property as we can, so we are exploring our options, now that my wife is almost XXXX and I, XXXX. But I wanted to file this complaint as a testament to the FRAUDULENT BANKING PRACTICES perpetrated by both XXXXXXXX XXXX XXXX and XXXX XXXX XXXX, that have unfortunately gotten me and my wife into this unfortunate, out-of-control and very uncomfortable situation. Please let me know if you require any additional documentation to substantiate my claims. Thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11725
Submitted Via: Web
Date Sent: 2023-11-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-06
Issue: Trouble during payment process
Subissue: Private mortgage insurance (PMI)
Consumer Complaint: My loan is scheduled for automatic termination of PMI on XX/XX/2023 as that is the date that the Loan To Value Ratio crossed the 78 % threshold. That date came and passed, and each month Specialized Loan Servicing continues to deduct my PMI payment. I have called repeatedly and each time I am told the request is escalated. After most calls, I receive a letter in the mail XXXX days later that outline general steps that can be taken to remove PMI, but nothing to do with my loan specifically. The most recent time that I called, Specialized Loan Servicing told me that I needed to have a valuation performed on my home to ensure that the value has not gone down. This cost would be passed on to me, and is in direct conflict with what is stated in my closing disclosures regarding automatic termination once the Loan To Value Ratio crosses 78 %. Dates Called : XX/XX/2023 XX/XX/2023 XX/XX/2023 XX/XX/2023 XX/XX/2023 XX/XX/2023 XX/XX/2023
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 812XX
Submitted Via: Web
Date Sent: 2023-11-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-05
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: I had XXXX loss of income and increased housing expenses over the last year and a half. I fell behind on my second mortgage or HELOC with sls. When I initially talk to them, they sent me a assistance package application, which I probably filled out there. It was a period of approximately two months for an answer. I then appealed and there was another month delay before I received a notice of default and foreclosure, and no answer yet on the appeal when I call, I am told different things each time and I can rarely get hold of XXXX who was my assigned agent to assist me with my matters. I think of the 15 to 20 times that I called. I may have spoken to her once I requested that Id be allowed to pay the amount that I fell behind over that over period of time or to add it to the end of the mortgage, and they denied and said they could not provide me any assistance whatsoever, I find it to be unfair and deceptive for them to string me along and then provide no assistance
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33138
Submitted Via: Web
Date Sent: 2023-11-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-03
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: I have been dealing with Specialized Loan Servicing ( SLS ). This experience has been horrible to say the least. It got to the point that after the repeated harassing phone calls, and sending people out to my house weekly to take pictures and charge this back to me, that it became a game with my man handling my account. He blocked my account to where I could only speak with him and this was getting no where. I made it clear that I was disputing this account. It was a laughing matter with him. SLS sent notice to foreclose on my house back in XXXX. I had to pay {$32000.00} to save my house. I made it clear that this debt was disputed and I even placed disputed on the cashier 's check. I have now received another notice to foreclose on my house. I just got off the phone with SLS and they are saying that I owe {$8400.00} to sop the foreclosure. This does not include any additional fees. I am furious because the allegedly debt was {$43000.00}. I am told today that the balance is $ XXXXand that I will have to wait until the foreclosure attorney reaches out to me. I have bought this house in XXXX and they are trying to take my home. I am extremely exhausted and over their collection process. I need this matter handled immediately. Their collection practices are illegal and it seems as if they are able to do whatever they want to do.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30016
Submitted Via: Web
Date Sent: 2023-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-03
Issue: Trouble during payment process
Subissue: Fees charged
Consumer Complaint: I was charged a {$25.00} NSF fee to my account by Specialized Loan Servicing. I have tried contacting the company via chat, telephone, email, and secure message through my online dashboard. No one would help and said NSF fees are beyond their control. Maybe this issue needs to be taken up with the payment vendor ACI instead. I have not missed a payment or ever not had funds to cover my payments. In fact, I tried to make principal payments ahead of schedule, and SLS could not even get those applied correctly despite using their online form specifying exactly where and how to apply the payments. It was a payment scheduled for XX/XX/ that supposedly was NSF. However, I provided SLS my bank statement showing the payment cleared. Not only did it clear, but there was still money in the account after the payment posted that would have even covered another additional payment. I also provided the payment transaction history ACI showed, and was able to reconcile each payment that cleared my account to all the scheduled payments ACI listed. Again, I don't know how it was NSF if every payment has cleared. There was obviously funds in the account. I received an email saying it was reviewed and to log into my account for further details. I can not find anywhere in the SLS dashboard providing a response, explanation, etc and the fee still remains on my account. I have followed up several times again by email and have not received a response.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AR
Zip: 72758
Submitted Via: Web
Date Sent: 2023-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-03
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: In XX/XX/2023, My mortgage company paid property taxes on my behalf in the amount of {$920.00}. My XXXX statement showed that I owed the amount of {$920.00} plus my regular payment of {$590.00}, totaling {$1500.00}. This is the amount that I paid on XX/XX/XXXX. When I received my XXXX Statement, I saw that the payment had been entered as 2 regular payments of {$590.00}, and an optional fee of {$320.00}. I have contacted the company 3 times and the error has not been corrected. At this point, I don't know what I should do.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 957XX
Submitted Via: Web
Date Sent: 2023-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-02
Issue: Struggling to pay mortgage
Subissue: Foreclosure
Consumer Complaint: This was part of an XX/XX/XXXX " Zombie '' loan I took out over 12 years ago. I completed a Loan Modification and was not aware this loan was never paid off. The XXXX XXXX HELOC loan sat dormant and never appeared on my credit for me to know I still owed it and had to pay. Last XXXX I was told that my home was going to be foreclosed upon. I've since been trying to negotiate with the lender ( SLS ) to remove or reduce the original principle of {$94000.00} but they now are threatening to sell my home if I don't pay {$150000.00} by XX/XX/XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90601
Submitted Via: Web
Date Sent: 2023-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A