Date Received: 2020-07-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: A month ago I got delinquency notice from lender ( SLS ). The reason in the notice was a missing payment. In reality when I checked the account summary, I saw that the auto payment was executed on time, but still their backend system marked my account as late on payments. Also they 1. charged me late fees, 2. disabled my auto payment option quoting the missing payments, when it is not actually a late payment 3. reported the same to all three credit bureaus thus dragging down my credit score This has literally paralyzed me from getting better financing options and thus impacting me financially. Worst part of it is the customer care. The service channels availabe are only able to hear my case, and they cant provide me a case number and does not allow me to talk to supervisor. They make false promise that, a supervisor would look into the case and connect back in 24-48 hrs and that was never the case. Also when I first reported the issue on XX/XX/XXXX, I was told that they would investigate the same and resolve it by XX/XX/XXXX and there is no progress made. On followup on XXXX of XXXX, the opened yet another parallel case as the support personal was not able to see any update. Also I was asked to send an email detailing the issue and no response there other than a canned auto response.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95138
Submitted Via: Web
Date Sent: 2020-07-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-14
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: The requested specific short sale documents were submitted to Specialized Loan Servicing on XXXX and exterior BPO was completed on XXXX. During the process, they requested for additional documents including the ones that were already submitted, so we have to resubmit them. And then on XX/XX/XXXX, they countered the buyer so a value dispute has been requested due to the buyer not accepting the counter of the lender but on XXXX, the lender said that they are going to request for a new value because the current value already expired, so they did not continue to review the file for value dispute. So we waited until the BPO returned on XXXX - they again countered the buyer so the buyer increased but still low compared to their value. So we again resubmitted the documents for the value dispute and while they were reviewing it, they were requesting for documents that were previously sent to them - so again, we resubmitted those and finally the result for the value dispute has returned on XXXX but on XX/XX/XXXX the lender said that the contract was rejected due to some verbiages that we have already submitted to them several times already. So, we again resubmitted the requested docs on XX/XX/XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33897
Submitted Via: Web
Date Sent: 2020-07-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-14
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Specialized Loan Servicing has misapplied payments, payment amounts has an incorrect loan as well. This started because my bank mistakenly cancelled my payment and so I received a late payment on my credit score. To resolve this I have called and messaged this company numerous times. I have overpaid most months, until this happened and was told that if I didn't have a late payment prior, it was usual to have the credit reporting favorably updated by different reps. No one was willing or able to help me or explain the outcome. Because if this I did a complete audit of my entire payment history to find out that they literally misapplied my money or didn't show a payment at all which impacts my over all balance as well as impacts my credit rating. I was advised there is literally no escalation path or someone I can speak with that can help me resolve or receive help. I am told that there is NO, NONE, ZERO escalation service or managers and that all teams are completely separated and calls can not be escalated or transferred. Main discrepancies : Show a payment of XXXX in XXXX. First payment wasn't due until XXXX. From XX/XX/XXXX- XX/XX/2018 my loan was sold 3 times SLS payment of XXXX on XXXX was not actually applied to my loan balance for XXXX and my overall balance and interest have been incorrect since then My late payment in XXXX, which is where I am requesting that I am provided assistance to correct my credit rating doesn't show my payment on XX/XX/XXXX and XX/XX/XXXX for both months My XXXX payment of XXXX was misapplied to Interest in the form of XXXX and a giant leap in Escrow My XXXX payment has the same issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OR
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-07-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have a conventional mortgage with Specialized Loan Servicing ( SLS ) that includes an escrow component. I never wanted the escrow component but was lied to my mortgage broker ( XXXX XXXX with XXXX XXXX ) who told me it was a requirement in Colorado. Despite holding thousands of dollars in the escrow account, SLS frequently issues demands for additional escrow funds. If you use auto-pay ( as I presume most people with conventional, fixed rate mortgages do ) you have to adjust the auto-pay amount and submit a separate, additional payment to SLS. If you do not meet SLS ' demands right away, they will begin charging late fees. Worse, when they do receive your payment, they will misallocate the funds in such a way to keep your account in arrears so they can charge additional late fees. For example, on my XXXX statement, they claimed a total amount due of {$1800.00} which included {$120.00} in fees and surplus escrow demands. I paid the full {$1800.00} but my XXXX statement showed an " uncollected escrow '' amount of {$23.00} and threatened additional late fees. When I finally got someone from SLS on the phone ( never a simple task ), they claimed the {$23.00} was applied to my principle rather than the escrow account. This makes absolutely no sense. By misallocating the money they demanded for my escrow account to my principal they were intentionally manipulating my account to keep it in arrears. If this isn't fraud, I don't know what is.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80516
Submitted Via: Web
Date Sent: 2020-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SLS charged me a {$71.00} late fee on a ~ {$100.00} shortage on my mortgage payment. My overall payment went up after an escrow shortage and I was set up on Bill Pay rather than ACH. I had attempted to set up ACH multiple times in the past with no luck as I was always told the website was down or received a tech error when attempting it online. Most recently I could not have set up ACH due to no one answering the phone during COVID. My total Payment went up in XXXX and I was short approx {$100.00}. SLS assessed a full {$71.00} late fee. That's a 72 % late fee. If that's not excessive, I don't know what is. Not to mention it was assessed during a global pandemic when people are in the midst of financial hardship and stress. SLS did not answer the phone when I tried to call in before this to switch to ACH due to staff shortage during the pandemic. We were expected to be patient with them as they adjusted to the pandemic. All I am asking for is the same courtesy here and not to be assessed a 72 % late fee during a global crisis when they couldn't even sufficiently staff their reps to assist with ACH and payment related questions.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33611
Submitted Via: Web
Date Sent: 2020-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-11
Issue: Trouble during payment process
Subissue:
Consumer Complaint: ****NO. 1. SLS continues to receive payments from the City of XXXX EVERY MONTH on behalf of a family member in excess of {$300.00} but IS LYING ABOUT NOT HAVING RECEIVED THESE PAYMENTS AND REFUSING TO APPLY THE PAYMENTS TO MY ACCOUNT. The checks CLEARLY have the account number written on them. These payments have been sent EVERY month since XX/XX/XXXX. I'm in receipt of each and every check no sent. ****NO. 2. The payments in question are sent each month IN THE SAME ENVELOP as the payment on my behalf of {$600.00} WHICH SLS IS APPLYING TO THE ACCOUNT. ****NO. 3. By not applying the payments on behalf of the family member SLS is MAKING IT APPEAR as though my mortgage is delinquent. ****NO. 4. Each time I call to and ask why the family member payments are not being applied, I get the same robotic answer from the " customer service '' tellers that they DON'T SEE THEM being applied. ****NO. 5. When calling on XX/XX/XXXX at XXXX ( XXXX ), I spoke with XXXX ( Teller # XXXX ) who asked about the delinquency of the account and I explained to her SLS was not applying the {$300.00} payments. SHE SAID SHE WOULD MAKE A NOTE ON MY ACCOUNT. ****NO. 6. My question : HOW CAN SLS APPLY ONE PAYMENT AND REFUSE TO APPLY THE OTHER PAYMENT ENCLOSED IN THE SAME ENVELOP? WHY IF MY ACCOUNT HAS BEEN NOTATED ABOUT THESE PAYMENTS, SLS HAS NOT ADDRESSED THIS ISSUE? ******PLEASE ANSWER THE PRECEDING QUESTIONS TO RESOLVE THIS ISSUE*******
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-11
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I obtained a loan during the first financial crisis in 2007 for my first mortgage. It was a predatory loan, I was told I needed a primary loan ( 1st ) and a line of credit ( 2nd ) for 100 % financing option. I had the loan since 2007 with no issues. Although I know this was a predatory loan with an super high interest rate, I wanted to keep to my commitment and agreement so I did not challenge any of the circumstances. The loan was sold off several times until I was in the hands of Specialized Loan Servicing. I received a notice from Specialized Loan Servicing that my payments will be going from interest only to principal & Interest and that they wanted me to sign a " modification '' so I can only be on interest only. I thought this was only beneficial to Specialized Loan Servicing and after 10 years of paying Interest only as agreed, I was excited to see my principle go down so I declined this offer they Specialized Loan Servicing Sent to my house almost every week. ( They were sending me certify mail with A Pre Approval almost every week ). I received a credit notice from my bank for a negative credit inquiry which was shocking. Specialized Loan Servicing reported to the Credit Agency. I have never had a late payment my whole adult life and now all of the sudden I had 31 which was mind blowing. My credit was ruined. I called Specialized Loan Servicing and was told essentially that this was due to me not signing the modification. I asked for help and was diverted from any type of assistance that would help me. I asked for the original documents I signed so i can review the terms or have an attorney review them and til this day I have received nothing. I pleaded for direct help over and over again with someone in leadership who can help me and was denied. I offered to show bank Statements with proof of payments made to them and was not helped. I asked more then a dozen times to speak to a manager who can help me. I wanted to meet my obligation for my debt and get a clear understanding of what was and has happened and was denied this bare ask from Specialized Loan Servicing. This was an extreme retaliatory doing by Specialized Loan Servicing for not taking the offer they gave me in paying interest only to principle & Interest payments. They ruined my credit and attached 31 late payments to my credit report. Please Help Me!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 18104
Submitted Via: Web
Date Sent: 2020-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-09
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is a continuation of a complaint that I filed with this company on XX/XX/2020 with the complain ID : XXXX. This issue had not been resolved to my satisfaction. I received an answer via email from a gentleman named XXXX with ID : XXXX on XX/XX/2020. In such email it states that and I quote : pursuant to the terms of the original promissory note and deed of trust, copies of which are enclosed for your reference, SLS is unable to apply a payment that is less than the total amount due. End quote. Oddly enough, copies of both ( the deed of trust and the promissory note WERE NOT attached so I could see on paper for myself if this is indeed true. I request to please provide me with those copies as they should have been attached to begin with. The only enclosures I received was the payment history and payment transaction codes. I still request an adjustment to be made on my late payment history so I do not show delinquent more than 31 days for XX/XX/2020 to potentially get a better rate on a refi! XXXX XXXX XXXX This is in regards of my mortgage acct : XXXX with SLS XXXX XXXX. XXXX XXXX, XXXX XXXX, Co. XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80017
Submitted Via: Web
Date Sent: 2020-07-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-09
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I sold my home last XXXX and sold at a profit. XXXX XXXX transferred this loan to Specialized Loan Servicing. When I sold my home XXXX XXXX reported as Paid XXXX Balance. Specialized Loan Servicing reported as a Paid Foreclosure. I am trying to purchase a new home and my lender can not get a DU approval due to the way they reported. XXXX XXXX has done a conference call with me and Specialized Loan Care and they changed the reporting on a Credit Supplement as Paid Loan. I let them know that needed a letter on their letterhead to be sent to me so that I could get this change made by the Bureau 's. They refused to send me a letter. They have told me that they will make this change but as of today I have not been able to obtain evidence of this. I have been working on this for over a month and have not really received much help. I feel as though they are stringing me along. I have the credit supplement that shows they agreed to the change but still have no guarantee that they will follow through to the Bureaus. I called XX/XX/XXXX, XXXX again XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XXXX 2 x and Spoke with XXXX XXXX and SLS together XX/XX/XXXX, XXXX & XX/XX/XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 894XX
Submitted Via: Web
Date Sent: 2020-07-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XXXX Please process our following requests : 1 ) Specialized Loan Servicing to correct outstanding issues relating to misapplied monthly payments ( from XX/XX/XXXX to XX/XX/XXXX ) during loan transfer with past due balance of XXXX from XXXX XXXX XXXX 2 ) Correct misapplied payments of current payments after loan transfer 3 ) Remove all late fees relating to misapplied payments 4 ) Remove all late payments on our credit reports with all credit agencies from XXXX to XXXX 5 ) Stop excessive collection calls and mailing invalid delinquent notices 6 ) Correct Year to Date ( YTD ) XXXX and XXXX interest and principal paid for this account This is our 6th online complaint request to correct the misapplied payments relating to the above loan account transferred from XXXX XXXX XXXX, with an incorrect past due balance of XXXX. This debt is not valid. Monthly payments per loan were supposed to be applied as part principal and part interest. XXXX XXXX XXXX made some corrections as per their response letter dated XXXX and stated a few outstanding corrections that Specialized Loan Servicing must do. No payments have been missed before or after loan transfer. Our credit reports with the credit agencies have been corrected by XXXX XXXX XXXX and showed that all payments were current and made on time from XX/XX/XXXX to XX/XX/XXXX. The following payments related to this misapplication were : XX/XX/XXXX {$230.00} applied as principal only XX/XX/XXXX {$230.00} applied as principal only XX/XX/XXXX {$220.00} applied as part principal and part interest XX/XX/XXXX {$240.00} applied as interest only I have attached the following supporting documentation relating to this issue : XXXX XXXX XXXX response letter dated XXXX showing corrections made to loan transcript and credit reporting agencies XXXX spreadsheet showing the XXXX XXXX XXXX corrections made and YTD interest and principal paid Bank statements payment activity showing all payments made from XXXX to XXXX. No payments were missed. XXXX report showing XXXX XXXX XXXX and Specialized Loan Servicing showing payment history Sample of collection calls received from Specialized Loan Servicing Most recent delinquent notices received by mail dated XXXX List of previous online complaints filed to resolve this past due issue. Please make the necessary corrections to our account and process our list of requests mentioned above. Thank you.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-07-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A