Date Received: 2021-01-15
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I was trying to refinancing my home since 1 year ago because the interest is too high % 5.75 is killing me, The refinance institutions have been rejecting me and I did not know why. I recently learned that it was because my lender, Specialized loan Services is reporting my payments incorrectly and irresponsibly. This has been costing me thousands of dollars because the interest is extremely high and outrageous. My main concerns also include that my loan was sold to, apparently 2 different banks without my knowledge, and somehow my payments were lost in the process. I have no track record of almost {$60000.00} of payments that I have made. According to specialized services, they can not report new accounts for 90 days. If this is true, I understand but at some point that money has to go somewhere. They are saying that they have no record of this, but I have proof of payments. I also recently learned today, XX/XX/XXXX that my loan was sold to a company named XXXX in XXXX. I had absolutely no knowledge of this. I feel that they are taking advantage of the situation and it is affecting me in the sense that I can not refinance. I keep getting rejected, and it seems that this is the reason. Because of them, I have been spending thousands of dollars on pure interest because of incorrect reporting. This is not fair to me in any way, especially during and economic crisis. I need this resolved now and I need to know where all of money has been applied to. If they can not show me this in detail, I need my money back because that would be theft. thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92026
Submitted Via: Web
Date Sent: 2021-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-13
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I am having a very difficult time with SLS - Specialized Loan Services. Because of COVID in 2020 I lost my income. SLS placed me on a forbearance under the CARES ACT. In XXXX I applied for a loan modification and was declined in less than a week. I don't think SLS even reviewed me or placed me in underwriting. The decline letter states I was approved for a short sale which is proof they never looked at my file, I have equity. Also the decline letter states they were not able to verify a qualifying hardship. Is a national pandemic that has killed 300,000 Americans is not a qualifying hardship? Again proof they never reviewed my file.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92064
Submitted Via: Web
Date Sent: 2021-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-13
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My husband and I purchased our home in XX/XX/XXXX where the financing we were offered was a first mortgage at 80 % and a second mortgage at 20 % thru XXXX XXXX XXXX XXXX where those terms were set forth with an adjustable rate on both mortgages. The second mortgage we believe was assigned to a new servicer around XX/XX/XXXX however, we did not receive any new payment information and/or documentation related to a new servicer and our payments were never auto-deducted as previously setup. XXXX rolls around and we run into some financial difficulties where we applied for a mortgage modification thru our first mortgage servicer and believe somehow they wrapped that second mortgage into the modification thru XXXX XXXX XXXX but we did not and have not receive any documents related to that modification. We have made attempts to obtain a copy of all the documents related to the modification and both mortgages in general. Without hiring Counsel at this point we are trying to decipher how our first mortgage which had an original balance of {$86000.00} is now showing an outstanding principal balance of {$140000.00} and our second mortgage which had an original balance of {$21000.00} is now showing an outstanding principal balance of {$47000.00} and the amount listed on the Notice of Mortgage Foreclosure Sale is showing claimed amount due of {$61000.00}. The Sheriff 's Sale took place XX/XX/XXXX but we have now received a letter from Specialized Loan Servicing that the second mortgage has been assigned to XXXX XXXX XXXX as of XX/XX/XXXX. XXXX XXXX Management does not have a website and I believe this is another step SLS is taking to further prohibit us from obtaining documentation related to the mortgage as we seek resolution.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MN
Zip: 565XX
Submitted Via: Web
Date Sent: 2021-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My loan was sold to Specialized Loan Serviceing by XXXX XXXX. On XX/XX/XXXX I got a package about it. It stated that I was late on a payment of a {$20.00} manintenance fee and had {$9.00} in interest due. My balance was {$0.00} so thereshould have been no interest. I recieved no bills or paperwork in the transfer so I had no way of knowing they fraudulently charged me. As of XX/XX/XXXX there is still no statements online to tell me why I was charged interest. I immediately paid the {$29.00} on XX/XX/XXXX. The wesite shows me still late on {$20.00} and a {$20.00} unknown and unapplied payment. My original agreement with state farm said that if I closed the loan in less than a year there would be a early temination fee. I believe it was {$140.00} but since statefarm has deleted all record of the original loan I can't find out. It's been over 2 years. Now XXXX says I have to pay a {$500.00} early termination fee or continue incurr ongoing maintenance fees and interest on my {$0.00} balance. There are hundreds of complaints about them online. The representative said since the website says so there is nothing he can do about it. He could not explain why there was {$9.00} interest on a {$0.00} balance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 618XX
Submitted Via: Web
Date Sent: 2021-01-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-13
Issue: Communication tactics
Subissue: Frequent or repeated calls
Consumer Complaint: I have late payments on my mortgage They never helped me
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11378
Submitted Via: Web
Date Sent: 2021-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-12
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My mortgage was originally one loan with XX/XX/XXXX back in XXXX - they sold the mortgage after we had 28 % percent damage from hurricane sandy. After that we had surmounted a huge mortgage ( XXXX ) and it became unbearable and we had tried and tired to get a loan modification - on XX/XX/XXXX we finally got approved for a loan modification only to find out as of XX/XX/XXXX, apparently we had a second lien holder where we thought we had just gotten a modification. We both were effected by covid and was happy to have receive a forbearance during the covid time and now the mortgage company SLS Sold off a second mortgage to XXXX company and apparently we now owe that company too. We need help and I am trying to work all of this out and I am finding myself in a bait and switch situation with SLS & Previously with XXXX XXXX There appears to be some shady business practices and I am not a savvy guy on mortgages and I find myself in a pickle and I dont like they way these companies are handling there business. We have only been trying to straighten out our lives and now its even more confusing and I feel these companies are taking advantage of our situation and not helping the common American. what is the consumer to do when we are held in trouble and trying to make ends meet only to find out that I dont have the money to fight all of this craziness in court ... .they hold all the cards and meanwhile my credit gets ruined and causing stress as well as causing a XXXX attach back in XXXX from all of the stressors from Hurricane Sandy and loss of work. Where do I go ... ... ..These companies are taking advantage and ruining the little guy, while they laugh all the way to the bank ... ..Now I am sure you will not investigate this to the detail to see all nuances that have taken place. The government allowed us to take a forbearance due to covid and now the mortgage companies are pouncing on the consumer which is going to cause a mass foreclosure rate - this is not just a me problem this is going to be an us problem ... unless these companies work out a plan a fair plan ... ... ... There is some sort of dirty dealing here ... Please help me
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 336XX
Submitted Via: Web
Date Sent: 2021-01-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-12
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The Co. is Specialized Loan Serviving, XXXX XXXX XXXX XXXX XXXX XXXX, Co XXXX The last 2 months i haven't been getting a statement so i can pay my bill. I have called 4 times to ask for them, they tell me it's in the mail. They won't look into it or anything. I think they want me to be late so they can take my house. They did the same stuff in XX/XX/2019.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32117
Submitted Via: Web
Date Sent: 2021-01-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-11
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I filed for Chapter XXXX Bankruptcy in XXXX in XXXX. I have been consistently making my Trustee payments. XXXX XXXX XXXX HELOC was included in this bankruptcy. In XX/XX/XXXX I received a letter from XXXX XXXX XXXX stating they will no longer service my loan. The new servicer will be Specialized Loan Servicing, LLC. I never received any information from Specialized Loan Servicing regarding my account, monthly payment amount, and how to submit payments. I attempted to set up an online account with Specialized Loan Servicing ( SLS ) and was prevented from doing so. I called SLS and spoke to XXXX and he told me to pay {$830.00}. I called my attorneys office ( XXXX XXXX and spoke to his legal assistant XXXX to inform her that XXXX has not provided me with any account number nor any written documentation regarding my loan. My attorney contacted XXXX and XXXX wanted me to pay {$4000.00} to start a payment plan. I told my attorney that I only have {$3000.00}. I sent a personal check to XXXX for {$3000.00} and XXXX sent the check back to me. Around this time I noticed XXXX charged off approximately {$80000.00} onto my credit report. Again, I contacted XXXX at my attorneys office to let her know XXXX did not accept my XXXX payment and has now put the full balance owed on my credit report. XXXX told me she will contact XXXX. I told XXXX that I will not make any payments unless XXXX pulls the loan back from my credit report and provide access to a monthly statement. On XX/XX/XXXX I received a formal Creditors Certification Of Default from SSLs attorney XXXX XXXX XXXX, XXXX, XXXX, Fl and sent to the US Bankruptcy Court Chapter XXXX, Case No. XXXX. XXXX is proceeding to foreclose on my property without even giving me a chance to pay. XXXX also never introduced themselves to me by lette, nor did XXXX provide a payment plan as they should have since this is an active Chapter XXXX bankruptcy. XXXX was also making it difficult to make payments because they only wanted me to use Money Orders or Certified Cashier Check.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 08817
Submitted Via: Web
Date Sent: 2021-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-11
Issue: Trouble during payment process
Subissue:
Consumer Complaint: When the pandemic started SLS put me in forbearance without my permission, only they took me off of my autopay a month before they put me in forbearance causing me to be late on a payment. I got a notice in the mail about being late for a payment, so I called and there was a voice recording that said " if you got a late notice ignore it - it is standard procedure. '' So, I ignore it. I didn't want the forbearance, they wouldn't take me out of forbearance so I just lived with the fact that I would be a few months behind on paying my mortgage because the customer service people genuinely have no clue what to do. They have no idea what's going on ( high turnover rate, maybe? ) Flash forward and they are reporting late on my credit. I call and try to explain that THEY took me off of my autopay and that this is THEIR fault. The woman I talked to was unkind, unhelpful, and ended up pushing me into a repayment plan. This is my first home, and I was scared to be late on a payment ( I am not late on ANY bills! ) so I agree to the repayment plan. I believe she entered my information in incorrectly because for months nothing was coming out and they were reporting to my credit the ENTIRE TIME. I called and got a male who was literally laughing at me and acting like I was overreacting about the fact that I wasn't able to pay my mortgage. Then my husband calls and gets a nice person ( who has no idea whats going on ) and they set up yet another repayment plan. That worked until the last few months of the year. So I call in XXXX because the XXXX payment didn't come out and decide to spend my savings paying the rest of this godforsaken repayment plan off. The customer service person was nice but uninformed and made things more confusing than they originally were. She told me the money had to be applied directly to repayment plan and not my mortgage or else I would continue to show as late and STILL put it in incorrectly. So now I have a XXXX credit on my account and still am showing late on my repayment plan. They are so difficult to deal with, they have ruined my credit, they are incompetent and they don't deserve to be in business anymore. Go look at their XXXX reviews. They are an awful company. It is insane that you have to refinance to change who handles your mortgage, especially when a company just does WHATEVER they want with your loan.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 352XX
Submitted Via: Web
Date Sent: 2021-01-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-08
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Started loan little over5 years ago. Was supposed to drop baloon payment and adjustable rate XXXX had on mortgage. Turns out Specialized Loan Servicing new bank did not comply 3 months ago raised mortg. XXXX dollars double what bank needed to pay tax increase. They also were going up aproximately XXXX more in XXXX 2021. This would make payment to bank XXXX a month almost double in 3 month period. I heard adjustable rate mortgages were unlawful for loan modifications. we are looking at loosing property we have been paying on for 18 years now. We also have XXXX XXXX people living in home with a few pets. Not good thing be XXXX in VT due to crooked bank.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VT
Zip: 057XX
Submitted Via: Web
Date Sent: 2021-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A