Date Received: 2017-08-08
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: HELOC with XXXX was transferred to Specialized Loan Servicng of XXXX XXXX Colorado. HELOC was paid off on XX/XX/XXXX. Specialized Loan agrees that it wa satisfied. XXXX County Wa records office is still showing the debt on the county record. It is file number XXXX. Amount is {$69000.00} recorded on XX/XX/XXXX. XXXX has gone out of business. Since Specialized Loan agrees that the HELOC was paid off, I do not understand why they do not notify XXXX County Wa. Although they say they already did this. XXXX XXXX XXXX XXXX XXXX Wa is the property address.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98501
Submitted Via: Web
Date Sent: 2017-08-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XX/XX/XXXX after a HAMP program modification XXXX XXXX sold my loan to SLS. XX/XX/XXXX I received my first statement from SLS stating to pay {$210.00} on XX/XX/XXXX as it indicated there had been {$1300.00} already applied toward the XX/XX/XXXX payment. I telephoned SLS as asked where the {$1300.00} came from and was informed it came over from my former lender with the escrow balance. I paid the {$210.00} as requested. XX/XX/XXXX I received a delinquent statement for the full payment amount. I telephoned SLS and inquired what happened. I was informed somebody moved the {$1300.00} to my balance and so the representative was moving it back to apply toward my XX/XX/XXXX payment. Two days later I telephoned to see if the transfer was successful and was told the {$1300.00} had disappeared. I have gone to their " executive dept '' several times and all I get was " oh there was an error ''. Recently I received a letter from SLS stating they sent the {$1300.00} back to XXXX. XXXX says they never received it. I have been past due for over one year and XX/XX/XXXX I received 4 notices of intent to foreclose. A SLS representative told me not to worry about it but there has been no notice received that SLS is not proceeding with foreclosure. I spent over one year trying to get a straight answer out of SLS about the {$1300.00} and still they have not verified they returned the money to XXXX. XXXX says they would mail me a check if they had received funds from SLS. XXXX wants a check number to track the payment on their end. Further, the {$1300.00} to the penny is showing on my XX/XX/XXXX XXXX statement as unapplied funds. So this whole " error '' thing just does n't make sense.
Company Response:
State: OR
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-08-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-07
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I sold our house at XXXX XXXX XXXX XXXX, closing XX/XX/XXXX, 2017. The settlement statement is attached. The loan, # XXXX with SLS was paid off. Since then I 've received to bills from XXXX. About 2 weeks ago, the first one arrived and I called. SLS told me to send the settlement statement by email, which I did. I never heard back until XX/XX/XXXX, when another bill arrived. I returned the bill by mail along with the settlement statement and a short letter describing the problem. I 'm also sending this information to the title company that handled the escrow.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 490XX
Submitted Via: Web
Date Sent: 2017-08-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-11
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: The modification makes the amount due more than the value of my home. If I died ( I 'm XXXX ), and the home was sold tomorrow my estate would be liable for the balance on the loan ( XXXX ) and the balloon payment of XXXX, XXXX. At the time I fell behind I had about 25,000 in equity principal balance was around 57,000, in the new modification, I would be underwater.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77015
Submitted Via: Web
Date Sent: 2017-08-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-11
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Specialized Loan Servicing is reporting the incorrect balance to the three ( 3 ) major credit bureaus ( XXXX, XXXX and XXXX ) and the account is paid in full.
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: 2017-08-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-17
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I contacted my loan servicing Specialized Loan Servicing on XX/XX/XXXX, to request the identity of the investor of my loan. We were told the request had to be in writing, and were given a fax number to submit the request to. The fax was sent at XXXX PST on XX/XX/XXXX. We were told to allow 24-48hrs for the request to be updated in their system in order to get the information. I called them on XX/XX/XXXX to follow up, and was told the information we had been given previously was incorrect and, per their policy and at the lenders request the information would not be provided for 30 BUSINESS days. According to the CFPB website : " If the request asks for the identity and address of the investor ( owner of the loan ), the servicer must provide this information to you within 10 business days of receipt of the request '' Additionally, each person we spoke with ( 3 so far in total ) are all rude, combative and obstructionary. It 's evident they have all been trained to not give any sort of help, information or guidance when it comes to information about the lenders, like it 's some big secret.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07726
Submitted Via: Web
Date Sent: 2017-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-16
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I few weeks ago I was in discussion with a couple of my friends and related that I thought that I had been treated a little unfairly by my HAMP mortgage holder, Specialized Loan Servicing. They told me about Consumer Financial Protection Bureau and that you help and protect consumers who may have a disagreement with their financial institutions. So I have decided to contact you. In XX/XX/XXXX I applied to XXXX XXXX for a HAMP loan which was completed and sent to the bank. On XX/XX/XXXX I faxed an appeal to XXXX relating that I had misunderstood the directions on the Hamp application. I had checked off both owner-occupied and second home which I should not have. I 'm the sole owner of the HAMP property ( located at XXXX XXXX, MD ) and co-owner of another condo and my mindset was in order to be as thorough and honest as possible with information, I somehow had to show both properties. My mistake in not fully understanding the HAMP form requirements. I explained that I spend 4 to 5 days a week or more at the XXXX XXXX property. I have XXXX XXXX and have had a XXXX XXXX XXXX, the salt air at XXXX XXXX is beneficial and therapeutic for my medical well being and my occupation allows me the benefit of being able to work during my time there. Therefore under HAMP rules this should be considered a primary residence. I have attached that appeal and the related Hamp application. Reason number one is the item in question and reason for this correspondence to CFPB, reason number 2 has been resolved with the bank. I then called XXXX to inquiry about my appeal, they said that the loan had been sold to Specialized Loan Servicing ( SLS ) and I would have to take up the situation and appeal with them when the loan is fully transferred. When I received official notification of the transfer, I then faxed the same appeal documents to SLS. I then later asked SLS about the status of my appeal and was send a letter of denial on XX/XX/XXXX. The letter indicated that my original appeal with XXXX had been denied and SLS was holding to that decision. But that was not truthful and very discerning because of my knowledge of my prior conversation with XXXX and the fact that I never received a letter of denial from XXXX. Please keep in mind that my loan was still in process and not completed or approved as yet, letter is attached. The consequence of all this is that the {$82000.00} principal was deferred rather than forgiven based on my application error which I attempted to correct very early in the approval process. My husband and I are both on social security and I believe that I am rightly deserving of a reversal of SLSs decision. I understand SLSs desire to keep the money in deferred status for financial reasons but my understanding is that HAMP was created to assist the borrower not the banks. I give my permission for XXXX XXXX, my husband, to ask and answer any questions in this matter. Thank you, XXXX XXXX XXXX SLS Loan # XXXX
Company Response:
State: MD
Zip: 211XX
Submitted Via: Web
Date Sent: 2017-08-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am currently in a chapter 13 bankruptcy. I have paid my HELOC through my bill pay every month on time. My XXXX payment was refused. I called my bank to ask why and they could only tell me SLS refused it. I called SLS to see if it was an error and I was told it was not. I was told I had to mail in payments even though they have an electronic relationship with my bank because I am past due. I asked them how I could be past due and they advised me my payments changed to almost double in XXXX due to the HELOC resetting. My attorney nor the Trustee were notified of a payment change. My attorney states they are required to notify the court per bankruptcy rules. Now I owe my XXXX payment, XXXX payment and soon coming XXXX payment. I am holding off paying them until the Trustee advises my course of action.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: ME
Zip: 040XX
Submitted Via: Web
Date Sent: 2017-08-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-12
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We have never missed a payment with the company and we are trying to modify our loan and making it extremely difficult. They also came back with a 6 month trial where the payment went up over 200xs our original payment. We have hired a lawyer and they are not corroborating on resending documents over for review.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60525
Submitted Via: Web
Date Sent: 2017-08-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-08-14
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Specialized Loan Servicing did not follow the appropriate rules and regulations governing approving the Deed-In-Lieu of Foreclosure requested and denied the request and forcding a foreclosure on the property. We previously had to request assistance from the CFPB to assist us with SLS and the original Loan Modification. We are requesting assistance to have SLS approve the Deed in Lieu of Foreclosure request. Referenced regulations : On XX/XX/XXXX, XXXX XXXX issued an Announcement ( XXXX ) requiring servicers to protect the priority of the mortgage lien and to clear all liens for delinquent homeowners association ( HOA ) dues and condo assessments, on properties acquired through foreclosure or deed-in-lieu of foreclosure. The Policy changes specified in this Announcement are effective XX/XX/XXXX but servicers are encourages to implement them as soon as possible. Servicers must follow the policies outlined on this announcement for all conventional mortgage loans held in, or purchased from XXXX XXXX portfolio but securitized in XXXX pools, or have special or regular servicing option, or a shared-risk XXXX pool with XXXX XXXX or Servicer marketing the acquired property, or other loans sold to XXXX XXXX under recourse or other credit enhancement arrangements. XXXX XXXX XXXX are required to advance funds when notified by an HOA for a PUD or condo project that borrower is 60 days delinquent in the payments, or charges levied by association inorder to protect the priority of XXXX XXXX mortgage lien. Reimbursements for such advances may be provided to the servicer for up to 6 months in certain states. In addition, Servicers are currently required to ensure any priority liens for delinquent HOA dues and assessments on acquired properties are cleared immediately, but no later than 30 days after the foreclosure sale or acceptance of a deed-in-lieu of foreclosure. Servicers must take steps to protect the priority of the mortgage lien for properties located in states providing priority for assessment liens over a previously-recorded mortgage document. Servicer must determine the amount to be paid in order to clear the associations claim of lien when pursuing foreclosure. The amount is generally the lowest of : The actual delinquent assessment balance and allowed costs The maximum amount due from the foreclosing first mortgage entity based on the provisions in the projects declaration, or under the relevant state statute. The servicer must pay this amount immediately following, but no later than 30 days after, the foreclosure sale date or acceptance of a deed-in-lieu of foreclosure. Clearing the priority lien within this time frame ensures XXXX XXXX lien position is preserved and costly delays are avoided when selling the property. XXXX XXXX is revising the reimbursement policy to servicers for the advances made. If an association refuses to release its claim of lien against a property for the amount determined to be the obligated amount after reasonable efforts to reach agreement, the servicer or its foreclosure attorney must contact the XXXX XXXX legal department for further guidance. All other requirements provided in the associated sections of the Servicing Guide remain unchanged. Servicer responsibilities in regards to acquired properties are outlined on the Servicing Guide and as required by applicable state law. Non-compliance with XXXX XXXX policy regarding delinquent HOA dues and assessments may result to repurchase, make whole or indemnification. Servicers should contact their Servicing Consultant, XXXX XXXX or XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX at XXXX ( XXXX ) with any questions regarding this Announcement. As per New York Department Financial Services XX/XX/XXXX Letter, DILs are well-accepted loss mitigation alternatives to foreclosure and have been incorporated into most servicing standards. XXXX XXXX and HUD both recognize that DILs may be beneficial for borrowers in default who do not qualify for other loss mitigation options. The federal Home Affordable Mortgage Program ( HAMP ) requires participating lenders and mortgage servicers to consider a borrower determined to be eligible for a HAMP modification or other home retention option for other foreclosure alternatives, including short sales and DILs. Likewise, as part of the Helping Families Save Their Homes Act of XXXX, Congress established a safe harbor for certain qualified loss mitigation plans, including short sales and deeds in lieu offered under the Home Affordable Foreclosure Alternatives ( HAFA ) program. Nothing in this letter affects the responsibilities of a mortgage loan servicer, including one that is an Exempt Organization, with respect to residential mortgage loan delinquencies and loss mitigation efforts under Part 419 of the Superintendents Regulations ( Business Conduct Rules for Servicing Mortgage Loans ).
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CT
Zip: 06830
Submitted Via: Web
Date Sent: 2017-08-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A