Date Received: 2023-11-02
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: My credit report is showing late payments to XXXX XXXX XXXX XXXX. Those payments were made on time. I am requesting that the late payment markings be updated to reflect my accurate payment history and I have tried to dispute it directly with the company, to no avail. I am requesting that you please provide me with all verification results regarding this account so that I may investigate these claims and take appropriate legal action. Also, I do not consent to an electronic communications. I request all responses be in writing throughtheusps and I'm the one filing this complaint, and I give Consumer Financial Protection Bureau ( CFPB ) authority to investigate this claim.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10314
Submitted Via: Web
Date Sent: 2023-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-01
Issue: Struggling to pay mortgage
Subissue: Trying to communicate with the company to fix an issue related to modification, forbe
Consumer Complaint: Specialized Loan Servicing LLC XXXX XXXX XXXX XXXX, CO XXXX Attention : Home Retention Department Subject : A XXXX XXXX XXXX Request Dear SLS Mortgage, I am writing to bring to your attention a matter of great concern regarding predatory practices and the loan modification response regarding XXXX XXXX that I have experienced with your company. I believe these practices are in violation of both federal and Maryland state laws, and I kindly request that you address this issue promptly. To provide you with a clear understanding of the circumstances leading to my complaint, I entered a program with XXXX XXXX on XX/XX/XXXX, for financial assistance on the second mortgage XXXX into a down payment with a new modification with your company. XXXX XXXX contacted SLS mortgage numerous times and consistently it took months to respond back to XXXX XXXX. From XX/XX/XXXX to on XX/XX/XXXX, was the official date of finally receiving a loan modification package for loan XXXX at the current interest rate with a large balloon payment included. However, upon closer examination of the loan terms and conditions, I have, and the State of XXXX discovered several alarming practices that are indicative of predatory lending. A large balloon payment of over $ XXXX plus violated the terms of the XXXX XXXX program for final approval. Due to the overextended delay the funds are now depleted from XXXX XXXX program. Almost twelve months have passed by, and now real modification assistance has been provided. I have made it clear that I want to keep my home that my family and I live in now. This debt was discharged in my bankruptcy ; however, the XXXX is still in place and your company is doing predatory business on the collection practices. Under federal law, specifically the Truth in Lending Act ( TILA ), lenders are required to provide borrowers with clear and accurate information about the terms and costs of the loan. This includes disclosing the annual percentage rate ( APR ), finance charges, and any prepayment penalties. Unfortunately, the loan agreement I received from your company failed to provide transparent and comprehensive information, making it difficult for me to fully understand the financial implications of the loan. A large balloon payment with a down payment of $ XXXX is not possible for me to pay out of pocket. We would have to salvage our car, clothes, shoes, and food to come up with this sum of money. Now, that XXXX XXXX has said, No as well to the balloon payment and your companys delayed response. I am seeking another loan modification request that is fair to me as the consumer without a down payment and no balloon. Without this assistance I will need to file another bankruptcy within the next few weeks. I will have no other option ; we can not be homeless. Furthermore, XXXX state law, specifically the XXXX XXXX XXXX XXXX ( XXXX ), prohibits predatory lending practices such as excessive interest rates, unfair loan terms, and deceptive practices. Upon reviewing the loan agreement, I have identified several violations of these state laws, including : No options within the loan modification that will lower the principal balance due to bankruptcy. The possibility to get a modification to lower your interest rate and affordable payment. No military option offered. It is important to note that predatory lending practices not only harm individual borrowers but also have a detrimental impact on our society. These practices disproportionately affect vulnerable populations, leading to financial instability and a cycle of debt that is difficult to escape. No balloon ; without a down payment. Considering the aforementioned concerns, I kindly request that you take the following actions : XXXX. Conduct a thorough investigation into my specific loan agreement and address any violations of federal and XXXX state laws related to predatory lending. XXXX. Provide me with a detailed and revised loan modification that is affordable. I am already having financial difficultly. XXXX. Rectify any violations found and offer appropriate remedies, such as adjusting the interest rate, waiving fees, or modifying the loan terms to comply with applicable laws. XXXX. Implement measures to ensure that your company adheres to federal and Maryland state laws related to predatory lending practices in all future loan agreements. XXXX. Adhere to the XXXX state program timeline of responding to their request. To ignore their request and stretch out the deadlines was unfair treatment from your financial institution. I would like to request a prompt response to this complaint within the next few weeks and not months from the date of this letter. If I do not receive a satisfactory resolution, I will be compelled to escalate this matter by filing complaints with the appropriate regulatory authorities and seeking legal recourse to protect my rights as a borrower. I trust that you will take this complaint seriously and take immediate action to rectify the situation. I believe in your commitment to ethical business practices and hope that we can resolve this matter amicably. I am seeking a justification and solution to your company causing me to not receive XXXX XXXX funds. This is an unfortunate situation and again unfair practice. Thank you for your attention to this matter. I look forward to your prompt response. Sincerely, XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20874
Submitted Via: Web
Date Sent: 2023-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-01
Issue: Closing on a mortgage
Subissue: Trying to communicate with the company to fix an issue with the loan closing
Consumer Complaint: specialized loan servicing was the company that on XX/XX/XXXX send me a certified letter that i have 90 days to pay past due amount of XXXX by XX/XX/XXXX i will be forclosed on. the loan was modified in about XXXX from XXXX XXXX XXXX. i have never been late since this was done... why would anyone wait almost 15 years to send a certified letter to forclose and not send it a year into the loan. loan amount i found out was XXXX now over XXXX is do,, i dont remember this, its should have been with modification. i also was in bankruptcy at the time of ythe housing crash. also note at the time my name was XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 01602
Submitted Via: Web
Date Sent: 2023-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-01
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: i had XXXX loan with XXXX, they had loan for XXXX & XX/XX/2023 ', my payments were [ interest only ] {$430.00} a month for first year i applied for auto w/d, have email from XXXX was XXXX, next i get letter saying they XXXX sold my loan to SPECIALIZED LOAN SERVICING on XX/XX/XXXX. i called SLS to set up auto w/d with them, told loan from XXXX not there yet but i was to get welcome package from SLS with new loan # etc, i then could set up auto w/d. nothing from either XXXX or SLS until XXXX XXXX from SLS saying got loan from XXXX & it's in DEFAULT!! augnor XXXX payments were made!! i called them to explain i had auto w/d with XXXX but deaf ears!! called XXXX to find out why payments were not made, NOTHING!! so in reality for sake of argument, XXXX & XXXX would be {$870.00} + what late fees would be but SLS charged me {$2700.00} + {$430.00} = {$3200.00}!! i asked WHY & FOR WHAT?!!??! nothing!!!!!!! XXXX sent copies of notices for payments in mail but AGAIN, NEVER GOT ANYTHING IN MAIL FROM EITHER XXXX OR SLS!!!!!!!!!!! so would like answer as to why & what the outrageous charges were for!!!!!!!!!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98373
Submitted Via: Web
Date Sent: 2023-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-29
Issue: Trouble during payment process
Subissue: Loan sold or transferred to another company
Consumer Complaint: Tender of payment was made by way of a bills of exchange bank check in the form of a negotiable instrument in the amount of {$89000.00} to fully satisfy this account. Per your statement a bank check is an acceptable form of payment. Here are the legal references that support the payment sent to you was a valid and lawful bank check negotiable instrument : XXXX. TENDER OF PAYMENT. ( 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. Supporting lawful references in regard to bank check negotiable instruments : HJR-192 UCC 3-501 UCC 3-305 18 USC 8 UCC 3-104 31 USC 3123 UCC 3-419 UCC 1-308 As per your response since XXXX XXXX is the current creditor and current note holder why is the Lien on the property with SLS and not with XXXX XXXX? You stated that SLS is a third-party mortgage loan servicing and is not the owner/investor of the loan. If SLS is NOT THE OWNER OR INVESTOR of this loan why does SLS hold a lien to the property? ( Black 's Law Dictionary ) XXXX XXXX legal right or interest that a creditor has in another 's property, lasting usually until a debt. or duty that is secures is satisfied. ( Black 's Law Dictionary ) ( Black 's Law Dictionary ) Creditor One to whom a debt is owed ; one who gives credit for money or goods. A person or entity with a definite claim against another. ( Black 's Law Dictionary ) Lienholder A person having or owning a lien. ( Blacks Law Dictionary ) Where is the original note? Why doesnt the note have a certified original copy stamp, but the security deed does? Please advise who is the current holder of the note and send an original copy of the note with more than one signature displaying the contract is binding. For SLS to provide proof that Fannie Mae is currently the holder of my ORIGINAL note that contains my wet ink signature and to provide a true certified copy of the original note signed and dated by a notary public. For SLS to explain why they hold a lien on my property when Fannie Mae is the current creditor.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30008
Submitted Via: Web
Date Sent: 2023-10-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-30
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: We received a letter on XX/XX/XXXX from Specialized Loan Servicing LLC ( SLS ) that our 2nd mortgage was referred for loan foreclosure proceedings. We reached out to HOPE to help us to determine the legality of mortgage foreclosure letter. We thought that the XXXX loan was resolved and finalized through bankruptcy XX/XX/XXXX and XX/XX/XXXX. We reached out to SLS on XX/XX/XXXX they stated that the amount due was $ XXXX + interest of $ XXXX with a total due of $ XXXX. XXXX stated that we had to pay $ XXXX down for a loan modification. Through advice from a non-profit counselor we sent a QWR to SLS on XX/XX/XXXX, and obtained a legal representation. We received an incomplete QWR response from XXXX on XX/XX/XXXX, stating that SLS was not able to address the increased payment amount and they do not have any history of payments and invoicing. In fact, they sent a spreadsheet of dates with XXXX amount due invoices. They are unable to respond to the allegation of being a predatory lender. They also added additional unpaid fees and interest. They did not provide any documents showing transfer of the loans from the original lender XXXX XXXX XXXX to SLS. Our legal team reviewed the response and sent a letter on XX/XX/XXXX to SLS outlining the violations and requesting additional information. Violations included ; irregularities and illegal practices relating to SLS debt collections on this account, Reg X, i.1024.33 Request for information, Tila-Reg Z i.1026.39 & ii.1026.41 with response requested by XX/XX/XXXX. To date our attorneys have not received a response from XXXX. XX/XX/XXXX we received a Notice of Sale for XX/XX/XXXX. Our attorneys have requested an extension due to the non response from XXXX to validate the loan amount and XXXX holder. There was XXXX communication from XXXX to the first notice received in XX/XX/XXXX. We have never received an invoice, no transfer of title notices or any other communication related to this loan other than what is listed here.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95843
Submitted Via: Web
Date Sent: 2023-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-30
Issue: Trouble during payment process
Subissue: Loan sold or transferred to another company
Consumer Complaint: Subject : Discrepancies in Loan Documentation Provided by SLS Specialized Loan Servicing, I am writing to bring to your attention certain discrepancies in the loan documentation related to the contract. As per your correspondence you stated : Terms of the Loan On XX/XX/XXXX you signed a {$100000.00} Note secured by a Security Deed. Copies of these documents are enclosed for your review. On XX/XX/XXXX, your prior servicer XXXX advised of the XX/XX/XXXX transfer of servicing to SLS, and on XX/XX/XXXX SLS sent its corresponding Notice of Servicing transfer. SLS has applied payments as prescribed in the loan origination documents. Statement of Facts : The Security Deed provided by SLS does not match the original Security Deed obtained from the loan originator : XXXX XXXX XXXX ( XXXX XXXX XXXX XXXX, XXXX, GA XXXX ), and the XXXX XXXX XXXX XXXX XXXX XXXX. ( Please refer to the attached Original Security Deed. ) Specifically, the loan number on the XXXX Deed is : XXXX, while the loan number on the Notice of Mortgage Servicing Transfer is : XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30008
Submitted Via: Web
Date Sent: 2023-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-30
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: Amended Complaint XXXX ( Wrong Security Deed was submitted for evidence, Disregard Complaint XXXX ) Subject : Discrepancies in Loan Documentation Specialized Loan Servicing I am writing to bring to your attention certain discrepancies in the loan documentation related to the contract. As per your correspondence you stated : Terms of the Loan On XX/XX/XXXX you signed a {$100000.00} Note secured by a Security Deed. Copies of these documents are enclosed for your review. On XX/XX/XXXX, your prior servicer XXXX advised of the XX/XX/XXXX transfer of servicing to SLS, and on XX/XX/XXXX SLS sent its corresponding Notice of Servicing transfer. SLS has applied payments as prescribed in the loan origination documents. Statement of Facts : The Security Deed provided by SLS does not match the original Security Deed obtained from the XXXX XXXX Clerk of Superior Court. ( Please refer to the attached Original Security Deed. ) Specifically, the loan number on the Security Deed is : XXXX, while the loan number on the Notice of Mortgage Servicing Transfer is : XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30008
Submitted Via: Web
Date Sent: 2023-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-30
Issue: Trouble during payment process
Subissue: Loan sold or transferred to another company
Consumer Complaint: Statement of Facts : 1. SLS Failed to : Provide debt validation A certified copy of the original instrument for this account in its original form accept payment as a negotiable instrument provide evidence of account funding provide explanation of what this alleged account balance is for, proof I borrowed any amount of funds from you. Provide documentation that shows I agreed to pay this debt with my wet ink signature. Provide the Agreement that grants you authority to collect on this alleged debt. Provide a copy of your state license, including license number that give you rights to collect in my state. I request documentary evidence on Account Number : XXXX, pursuant to 15 U.S. Code 44 which states that it must include all documents, papers, correspondence, books of account, and financial and corporate records which involve all derives, assignee, hypothecations in connection with my all-caps name. I require clarification in order to address the billing error for the amount shown in Exhibit ( A ). I need clarification as to who funded the account and how much is owed according to the journal and ledger entries from the date of opening of this account as described in IRS Publication 583 as the 10-k. On the public and private side showing accounts receivable and payable. SLS Responded with : We have reviewed your Request for Information seeking all data or records in relation to this loan account. This request seeks an unreasonable volume of documents or information such that SLS could not respond to the request within required time limits or respond without incurring costs that would be unreasonable in light of the circumstances. If you wish to identify with greater specificity other or different information regarding your mortgage loan that you would like SLS to provide, we will further respond to such a request in an effort to meet your needs. The NOTICE OF MORTGAGE SERVICING TRANSFER SLS provided contains XXXX Loan Number : XXXX. The security deed SLS provided contains Loan Number : XXXX. This discrepancy is a violation of the Terms and Conditions of the contract per the Security Deed resulting in BREACH OF CONTRACT : Transfer of Servicing Section 20 of the Security Deed allows as follows for the sale of the Note or transfer of servicing : The Note or a partial interest in the Note ( together with this Security Instrument ) can be sold one or more times without prior notice to Borrower. A sale might result In a change in the entity ( known as the " Loan Servicer '' ) that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. II there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires In connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser I was never lawfully notified and have no contractual obligations to the XXXX Loan Number : XXXX listed in the NOTICE OF MORTGAGE SERVICING TRANSFER. This is Breach of Contract and makes the contract void on its face. This account must be discharged.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30008
Submitted Via: Web
Date Sent: 2023-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-31
Issue: Attempts to collect debt not owed
Subissue: Debt was already discharged in bankruptcy and is no longer owed
Consumer Complaint: In XXXX of XXXX I was given two mortgage loans on my home an 80 % 1st and 10 % 2nd mortgage with XXXX. The 2nd loan balance was {$99000.00}. In XXXX I was unemployed and I fell behind on payments on the 2nd mortgage, and my home had negative equity at the time. In XXXXXXXX XXXX XXXX XXXX XXXX the new servicer, sent me a settlement letter for {$7900.00} to close the account. I called to get further instructions on how to send the payment but then was advised they could not take payment, the account would be charged off and the lien on my home would be released. No further payments would be due. The loan was charged off in XXXX but I never received the lien release. In XXXX I did file for Bankruptcy XXXX XXXX and included the debt. Within several months I received a notice from Specialized Loan Servicing that they now owned our loan. I contacted them several times during XXXXXXXX about the release on the 2nd lien. They claimed to have no record of the settlement or release on my loan from XXXX or XXXX XXXX. I was advised to sell the home in a short sale and settle the balance, something I couldn't do. I never received any monthly bills from SLS, only an annual privacy statement. Then in XXXX I received a notice from XXXX XXXX XXXX as now the new owner of my account. I contacted them and was told my balance was {$99000.00} and the monthly payment would be {$420.00} per month. They began to send monthly statements. They asked I start making monthly payments immediately or my home could be foreclosed upon. I sent them the {$420.00} in XX/XX/XXXXXXXX XXXX per the monthly statement, but the following month the payment didn't show it was applied, it said placed in a suspense account. I called them to ask why the payment went into a suspense account and they told me the balances would be updated and to keep sending the amount of {$420.00} per month. I did not make any more payments. Soon after the new statements showed I was past due over {$60000.00} and the new monthly payment was {$1200.00} per month. I again called them and was told the best option was to send that monthly payment or to sell the home and they would consider a short pay. This account should have been closed and the lien released back in XXXX However the servicing rights continue to transferred and I have not been able to resolve the account. This is the only home I own, and selling isn't a viable option for me and my children.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91765
Submitted Via: Web
Date Sent: 2023-10-31
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: N/A