Date Received: 2020-05-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Problem company : SPECIALIZED LOAN SERVICING. Problem : I am paying my monthly loan payment in advance before the date it is due and instead of crediting my loan payment to my loan as a monthly loan payment the company is crediting my payment as a " principal only '' payment and then when the monthly loan payment due date arrives the companyis stating that they never received my monthly loan payment. Then, the company is marking me as not paid and is then charging me a " late fee. '' I tried calling the company to get this corrected. They never corrected the problem. I tried writing the company to get this corrected. They never corrected the problem. Instead, they said they corrected the problem - which they did not - and they said they were sending me a " confirming letter '' confirming that the problem was corrected. Instead, they sent me another borrower 's information - and they never corrected the problems with my accounts.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95404
Submitted Via: Web
Date Sent: 2020-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hello, SLS Mortgage has raised our payment by {$370.00} during COVID19. We have repeatedly asked for escrow analysis since they have made a huge mistake. We have never missed a payment, the loan was sold 4 times, and somehow they claim we are {$6000.00} short yet our taxes, insurance have barely changed. We also requested that they remove escrow due to the mismanagement and lack of communication, and difficulty we have getting any help about our loan and getting escrow analyzed. They denied escrow removal because they said we had a late payment in XX/XX/2020, however we were on forebearance for one month and we were promised that no payments would be deemed late during COVID19 Forebearence. I have called 5 times XXXXnd I keep getting hung up on by agents who can not answer my questions. They say they do not see the record of us being on forebearance for COVID19 and therefore the payment was deemed late. I have it in writing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77494
Submitted Via: Web
Date Sent: 2020-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My home equity loan was sold to Specialized Loan Servicing in XX/XX/XXXX. When the loan was first transferred to them for servicing there was some discrepancy about my monthly payment and interest rate, but it was at least close to what my monthly payment and interest rate should be. The interest rate at one point was stated as 5.51 %, when it should have been 5.26 %. But like I said, it was close. From there everything involved with the servicing of this loan has gone downhill. My loan originated with XXXX XXXX XXXX in XXXX as a HELOC. On XX/XX/XXXX, in anticipation of the end of the draw period which would be coming in XXXX of XXXX, I locked in my interest rate on the entire balance of the loan. My payment for the duration of the loan would be {$980.00} a month, and my interest rate would be 5.26 % fixed. For the past several months there has been a huge discrepancy about my interest rate and monthly payment, which has also effected the amount of days SLS says I am past due, as well as what amount they say I owe. At the time of this letter, I have not made my XX/XX/XXXX payment, but I am on a forbearance. Previously, I had fallen behind, no more then 60 days, due to my husband having XXXX and the effect it had on my finances. I was able to catch up recently due to the stimulus payment. I have called many times to try to get these errors corrected. There was a brief period when they had close to the right information, but one day when I called to make my payment the customer service representative told me I owed over {$9000.00}. I was in shock. That representative also insisted that I had a variable rate loan, not a fixed rate. Since that time, I have called probably about once a week to get this straightened out. I have been told a lot of different things by a lot of different people there. At times, Ill speak to someone who concurs with my figures and other times not. I did get transferred to the HELOC department once, and that person said he could see the documents that supported what I was saying. I just did not understand how they could be saying that my monthly payment was {$1900.00}. Then, just out of curiosity I divided that number in half and got what my monthly payment is supposed to be, {$980.00}. I also have had some representatives tell me that all the accounts they got from XXXX XXXX XXXX are messed up. I dont know what that means. But my account, interest rate, and payments were all consistent until XXXX took it over. They have opened several tickets to look into the issues with my account, and have said they will research, but nothing changes. They have also been saying my account is under maintenance, for months now. My payment log is also a mess. Apparently, because they didn't have correct information on what my monthly payment is, my payments were not applied the way they should have been. Payments are added and reversed. Ive never had any payments returned from the bank. On XX/XX/XXXX I sent them a Notice of Error Resolution asking them to make the corrections to my account. I included a letter I received from XXXX XXXX XXXX in XXXX documenting the rate lock as well as a home equity loan statement showing a balance of {$0.00} for the parent loan, the HELOC, and the entire balance transferred to the XXXX, as well showing my monthly payment to be {$980.00}. I have since called to double check that they had received and uploaded the documents. I knew they had received the letter containing those documents as I sent it certified mail. The representative I spoke with confirmed that they did have those documents but that she could not tell me much else about my account except that I was going to be getting a new account number. Why? I have never heard of this. She advised me to check back in in a week. I am hoping this means they are fixing the issues with my account! I spoke to another representative yesterday and he could not see anything in my file indicating that I was being assigned a new account number. I also received a letter from them yesterday, I guess in response to my Notice of Error Resolution concurring with what my monthly payment should be, but saying I owe over {$7000.00}. This is horribly inaccurate. They should only have me owing my payment for XXXX as well as late fees left over from XXXX XXXX XXXX. Their website and automated phone system still have all incorrect information as well. And unfortunately, because I was laid off from my job because of COVID-19 I reached out to them for help, hoping to get a payment deferral. They granted me a forbearance, but based the total amount due at the end of the forbearance on incorrect numbers. I need all of these issues corrected- the interest rate, the monthly payment amount, as well as the amount they say I will owe at the end of the forbearance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Received a letter on XX/XX/2020 being charged {$88.00} for supposedly paying mortgage late. in my payment history I have always paid my mortgage before the XXXX of every month. This month I paid on XX/XX/XXXX a Thursday. My bank shows it cleared on Monday the XXXX but this " Mortgage Payment Reminder Notice '' was sent out on a Sunday dated XX/XX/2020. I know my banks don't do business on Sundays and I definitely know Specialized Loan Servicing doesn't either. I believe their is a new predatory tactic starting up for homeowners who are paying their mortgage. I have had to deal in the past with forced placed home owners insurance and it was a complete nightmare to correct and we never quite recouped from that experience. I cringe in fear whenever I get a letter from SLS. Its never good news. I have attached the letter we received and hope you can assist us and maybe be alerted of this new way of adding homeowners to an automated system that makes them look delinquent on their mortgage. I tried to call SLS on the XXXX and you can't speak with anyone nor hold for as long as you can because it only offers a call back option. what about people who are working and can't have their phone on them? Its just horrible service and the system is obviously set up for you to give up.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 331XX
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: A mortgage modification packet was requested in XX/XX/2020. I received a letter dated XX/XX/2020informing me that they had reviewed my application and that I was not eligible for a mortgage modification but I was eligible for a short sale, or deed in lieu. The first issue is that according to the attached letter they reviewed my application however a modification packet was never sent. When I questioned the mortgage company about this they said that they did a streamlined modification that required no paperwork. According to all the information that I have read a streamlined modification was intended to keep homeowners in their homes with little paperwork rather than using no paperwork to remove a homeowner. I explained to the representative that I found a denial for modification hard to swallow when my financial situation was never looked at. The attached letter stated that I also had a right to have a second independent review. I requested this via email on XX/XX/2020. On XX/XX/2020 I called into customer service in regards to a letter that I had received regarding mail that was sent to the incorrect address. At that time I was informed of a foreclosure sale date on XX/XX/2020. I then asked about the second independent review. The customer service rep saw where I had requested it but could not explain why the review was never completed. She then told me I needed to submit an email asking that very question and requesting that the review be completed. On XX/XX/20 I sent an email along with all the attached paperwork requesting that Specialize Loan Servicing cease and desist any foreclosure proceedings until the second independent review was completed. At this time I feel like my rights have been violated because my modification was denied under false pretenses. Specialized Loan servicing reviewed no information regarding my financial health. They also denied me on the basis of loan to value numbers but provided no proof of what those actual loan to value amounts were. I am requesting that the CFPB hold Specialized Loan Servicing accountable for there actions and ask them to stop the foreclosure proceedings until they do their due diligence in helping a homeowner stay in their home. I have also attached information from Specialized Servicing showing what streamlined mortgage assistance means and what they can do to help homeowners.I have been told that they can not reduce my interest rate because it was as low as it could go but after reviewing their own paperwork the interest can be reduced done to as low as 2 %. They also have many options on the attached sheet which I qualify for but have never been offered.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30078
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am working with the XXXX XXXX XXXX XXXX to refinance my mortgage. They have reached out to me for a loan closing statement and amount which Specialized Loan Servicing holds. Neither XXXX nor I can reach anyone in SLS or their parent XXXX XXXX. I am trying to close by end of XX/XX/2020 and need this payoff amount or I will be in financial harms way without SLS responding to my and XXXX needs. There are numerous online complaints and federal filings regarding this fraudulent company. How do I get resolution and QUICKLY!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80501
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Hi Specialized Loan Servicing, LLC The property you are trying to foreclose is my primary residence. I am retired. I am XXXX XXXX. XXXX XXXX has suffered substantially due to COVID-19 Pandemic. I have been affected by COVID-19. Please obey federal law and stop the foreclosure. Please work with me. Thank You Very Much.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 93215
Submitted Via: Web
Date Sent: 2020-05-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Dear Sir or Madam, I write to you with great distress that SLS did not act in good faith in their Fiduciary responsibility but have done an outright FRAUD, taking advantage of the COVID Crisis. I was greatly disturbed by the COVD Crisis and based on the common knowledge available in the various Media outlet, decided to talk to SLS, who were holders of the Mortgage. It was almost the end of XX/XX/2020. However, I was unable to talk to their representative to get more information about the options available to me. And their website directed to write to them on their website. Anyways, the payments were done to them in full and in time. They service the Mortgage of XXXX and XXXX XXXX. They deliberately showed that payments were not made in XX/XX/2020 ( which was already done, and the first contact about COVD was made in XXXX, so it had to be credited ). Then again they showed payments made in XX/XX/2020. Again they did not report the payments made in XX/XX/2020 My Broker Agent was absolutely shocked by their outright fraud. As per the rules of XXXX and XXXX XXXX, no new mortgage would have been issued, if any non-payment showed. They deliberately showed non-payments in mycredit history, despite getting full payments and in time. The addressis : Specialized Loan Servicing LLC XXXX. XXXX XXXX XXXX, CO XXXX They need to pay a penalty for their wrong behavior and make amendments to my Credit Report and show the payments were made in Full and in Time. With the low mortgagerates, I plan to refine my mortgage and theirdeviousactions have put things in a bad situation for me. Aso this deliberately deviant and malicious harmful activity shouldbe reported to the authorities. Thanks. Very Upset MortageHolder.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60564
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Specialized Loan Servicing is refusing to offer a loan modification and only offering a forbearance due to COVID-19. The forbearance does not help me or the vast majority of homeowner 's since the balance of the 3 month forbearance is required to be paid in full at the end of the forbearance. What is the point of even offering this? SLS refuses to even offer the prospect of a loan modification simply stating that it 'may ' be available in the future and that they can't offer any additional information pending " a review of applicable laws and statutes ''. Their Customer Service has been unwilling to assist me as a homeowner simply because my loan isn't federally backed. My complaint is to try and force them to treat these loans as federally backed and offer loan modifications rather than forbearances. My original loan from 2010 was with federally backed mortgage. Due to circumstances that I had ZERO control over the loan has been sold multiple times and ended up with SLS. Now I am being penalized during a GLOBAL PANDEMIC. I find this terribly unfair and am asking for your assistance
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 341XX
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SLS Mortgage ... XXXX XXXX XXXX XXXX XXXX $ XXXX. They put payment into suspense. Never short even with increase in escrow payment comes to {$2300.00}. I have made at least 10 call tickets and had conversations with just as many agents beginning XXXX of XXXX. NO HELP WHATSOEVER. XX/XX/XXXX - Called to question the large increase in payment. Escrow calculation was provided. Incorrectly calculated. Agent apologized and said it would be corrected, no problem. XX/XX/XXXX - Statement arrived with incorrect amount due, but we knew SLS was fixing it. XX/XX/XXXX - Statement arriving again with wrong amount. Called agent again - told me a " ticket '' was being created to address the issue. They said the payment was lost. I had to provide proof of payment by sending requested documentation to XXXX. Rec 'd email stating docs were received. XX/XX/XXXX - I called to check. This agent said a " ticket '' was never created previously. They said the only thing that was noted was a request to waive penalty. This agent created another " ticket '' to fix the " missing payment ''. I was assured it would be corrected, no problem. XX/XX/XXXX - Statement arrives - NOT fixed. XX/XX/XXXX - Called agent. Stated the other ticket was closed because now they said that XXXX payment wasn't missing! ANOTHER " ticket '' was opened for a " missing '' XXXX payment. Agent said shouldn't be an issue anymore. It will take 3 - 5 days to correct the problem. To this day, SLS has not corrected the problem. ***Big Picture : Old mortgage amount XXXX. New mortgage amount after escrow ( corrected ) {$2300.00}. WE SENT {$2400.00} EVERY MONTH 4 TO 5 DAYS BEFORE DUE DATE. NEVER LATE, ALWAYS PAID MORE THAN THE PAYMENT DUE. *** XX/XX/XXXX STMT Due XXXX {$2300.00}. No issues PAID {$2400.00} XX/XX/XXXX for XXXX. XX/XX/XXXX STMT Due XXXX {$2300.00}. No issues PAID {$2400.00} XX/XX/XXXX for XXXX. NEW PAYMENT WITH NEW ESCROW AMOUNT {$2900.00} ( INCORRECTLY CALCULATED. THEY EVENTUALLY FIXED THE ESCROW AMOUNT ). XX/XX/XXXX STMT Due XXXX XXXX ( WRONG AMOUNT ) PAID {$2400.00} XX/XX/XXXX for XXXX SLS PUT XX/XX/XXXX PAYMENT IN SUSPENSE CAUSING THE STATEMENTS FROM HERE FORWARD TO SHOW PAST DUE BALANCE! ( THEY CORRECTED ESCROW - NEW PAYMENT AMOUNT TO {$2300.00} ). XX/XX/XXXX STMT Due XXXX {$2300.00} + PAST DUE AMOUNT {$2300.00}. PAID {$2400.00} XX/XX/XXXX for XXXX THEY PUT XX/XX/XXXX IN SUSPENSE. XX/XX/XXXX STMT - Due XXXX {$2300.00} + PAST DUE AMOUNT {$2300.00}. PAID {$2400.00} XX/XX/XXXX for XXXX. XX/XX/XXXX STMT Due XXXX {$2300.00} + PAST DUE AMOUNT {$2300.00}. PAID {$2400.00} XX/XX/XXXX for XXXX. XX/XX/XXXX STMT Due XXXX {$2300.00} + PAST DUE AMOUNT {$2300.00}. PAID {$2400.00} XX/XX/XXXX for XXXX. Continues to present day. SLS has yet to fix the problem. Had to contact an attorney.
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: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A