Date Received: 2017-07-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I bought a home in XXXX of XXXX. Because my bonus was paid a week after the closing date, I had to get PMI as I did not put down 20 %. Almost immediately, I requested from the mortgage originator the figure to pay the mortgage to the 80/20 split and have the PMI removed. After one month, my mortgage was sold to XXXX XXXX XXXX. I tried writing to them twice to the PMI removed. Nothing. I wrote a complaint to CFPB and they immediately sold the mortgage loan so as not to have to deal with CFPB. The mortgage was sold for the third time in XXXX of XXXX to SLS ( Specialized Loan Servicing ). Beginning in XXXX of XXXX and through the present, I have written three letters requesting that PMI be removed, agreeing to pay the balance to bring the LTV to 80/20 and providing comps from a realtor providing updated values for my home. The value of the home has increased at least {$30000.00} due to a variety of factors. What have i received from SLS? The same form letter over and over again stating that I needed an appraisal that would cost between $ XXXX and refusing to answer how they calculate the value of my home or LTV. I have also called and received the same response. At this time, I am seeking the following : 1. ) removal of PMI immediately 2. ) reimbursement of the last six months of PMI while I was jerked around by SLS. 3. ) any fines or penalties applicable to the conduct of SLS such as Unfair Trade Practices or Consumer Fraud. I would also be happy to join in a class action or serve as a witness in a state or Federal inquiry/investigation of this Company
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 201XX
Submitted Via: Web
Date Sent: 2017-07-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have written numerous Qualified Written requests to Specialized Loan Servicing LLC asking for specific items in order to determine who owns my loan, if there are any errors on my loan by reviewing them, legal documents pertaining to the chain-of-title, i.e. the Assignments and Substitution of Trustee Notices and who owns/has possession of my Note and Deed of Trust, along with other important information within my legal right to ask and receive.SLS then stated that they are not " required '' to provide life-to-loan transfers in relation to my Deed of Trust! On XXXX XXXX , 2017 SLS 's response to my Qualified Written Request/letters was that I have asked them too many times and they refuse to answer and therefore, they consider the matter resolved! They stated instead that they have a right to collect fees per the terms of the Promissory Note but do n't have to list them or give me a break down. ( only charge me for them! ) As for the errors I am looking to discover once I receive the numbers from SLS, they stated that " they have reviewed my account and there are no errors, but that I had a right to request the documents relied on by SLS in reaching the determination communicated in their letter. '' This is precisely what I have been asking for and I agree that it is within my right to receive them, but they refuse! The previous letter I received from SLS stated if I wanted this information I would have to sue them to get it ... .does n't sound like a legitimate business practice to me and therefore I will continue to ask until I can reach my own conclusions and report them as well for fraudulent and damaging behavior toward me and my business. Transparency is all I am requesting in order to be able to review what SLS is alleging I owe, what I have been charged for and the legal documents to show who can collect and who is claiming I owe anything. Pretty straightforward questions for a company like SLS to be able to answer, since this is their job!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NM
Zip: 87505
Submitted Via: Web
Date Sent: 2017-07-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XXXX XXXX XXXX XXXX XXXX . XXXX XXXX , LA XXXX I became late with my mortgage due to illness and job loss and was approved for a short sale. I listed the property and an offer was submitted by my Realtor. XXXX made a cash offer on the property for more than the bpo. We encounter a problem due to communication : since the offer was from a corporation we were notified that the mortgage company needed articles of incorporations. That information was provided and a later email was sent and it was not sent to my Realtor requesting that they needed authorization from XXXX that the person signing the purchase agreement be confirmed that they were authorized by XXXX to purchase real estate on there behalf. The authorized person was out of the office due to illness and we had a delay in getting that document. It has been provided and sent to SLS and now everything is in place to move forward with the short sale. I am being told that since it 's 1 day late they are cancelling my short sale. I would like to short sale the property rather than it be foreclosed on. I found my husband dead on the porch of the property and I am now widowed with school age children to care for alone. We the 2016 Great Flood of Louisiana rentals are expensive and my hope is to position myself to purchase a home for myself and children. I have request that the foreclosure be proposed to move forward with the short sale. I do n't think foreclosure benefit anyone ; so I think that I am being treated unfairly. The area is crime ridden which is why my husband was murdered and the fact that we an offer from XXXX is a blessing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: LA
Zip: 70806
Submitted Via: Web
Date Sent: 2017-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-18
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: In XXXX loan modification ( # XXXX ) approved by XXXX XXXX XXXX and or Specialized Loan Services, LLC, ( SLS ) , which required {$1300.00} monthly payment, on XX/XX/XXXX called ( XXXX XXXX ) spoke to XX/XX/XXXX who confirmed payment amount and about leaving payee line blank on checks, First payment made before XX/XX/XXXX and sent with copy modification payment page with hand written acknowledgement of the " XXXX '' statements, every payment made before due date , SLS continued to cash said payment for XXXX XXXX years, XXXX XXXX , SLS stopped cashing payment and entered property into foreclosure status, XX/XX/XXXX when questioned SLS ' XXXX ( XXXX XXXX ), stated payments were n't cashed because the cause wrong amount was paid and, stated in fact, monthly payment should have been {$2000.00}, because SLS conducted appraisal after modification agreement was signed and determined account needed additional {$650.00}, he acknowledged amount is not listed in modification agreement, also no address was provided to mail new/added appraisal amount, as a result XXXX stated account was {$37000.00} in arrearage and would have to be made to bring account current and out of foreclosure. I should be able to rely on the amoun t SLS agreed upon in our loan modification agreement and they should not have people confirming payment information if they are not professionals in mortgage business. This is a deceptive and dishonest practice and should not be allowed to happen.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 01887
Submitted Via: Web
Date Sent: 2017-07-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Specialized Loan Servicing is over-collecting for property taxes and they have misapplied our XXXX mortga ge payment. I have attached a letter providing all of the details.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 28443
Submitted Via: Web
Date Sent: 2017-07-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have been making additional principal payments on my conventional ARM mortgage that was sold to SLS last year. Previously, all of my additional payments have been correctly applied to the principal balance with no issues. This month, I made my regular monthly payment on XX/XX/XXXX , which was correctly applied to my monthly payment due XX/XX/XXXX . I then made an additional payment on XX/XX/XXXX and instead of applying this to the principal amount, SLS applied it to my XXXX payment ( i.e. : the payment not due until XX/XX/XXXX ) and pushed my due date out to XX/XX/XXXX . Coincidentally, my ARM interest rate adjusts as of XX/XX/XXXX . I can only assume SLS has intentionally made this 'mistake ' in order to collect more interest on my loan. I called on XX/XX/XXXX and explained the situation to the rep, who put me on hold for an inordinately long time 'researching ' the issue. He finally came back on the line and assured me that the problem would be resolved within 2 days. I confirmed with him that meant that it would be resolved as of Friday ( i.e. : XX/XX/XXXX ) and he indicated that was correct. As of today, XX/XX/XXXX , the issue is not resolved.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 85206
Submitted Via: Web
Date Sent: 2017-07-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Hello, my name is XXXX XXXX. I have a mortgage company by the name SLS. I bought my house for XXXX . My balance XXXX. It already reached 78 percentage and they 're not taking the PMI off. I talked continuously many times. Now they want to do a appraisal and the loan is already less than 80 % percent. Now they 're trying to charge me to do a appraisal. Please help me out.
Sincerely, XXXX XXXX Account Number : XXXX ( Phone Number for SLS : XXXX ) If you have any question please call me or my husband XXXX XXXX at XXXX. My e-mail address : XXXXCompany Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33028
Submitted Via: Web
Date Sent: 2017-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: SLS has paid my home owners insurance in the past. I was paid in full XXXX XXXX for the period XXXX XXXX - XXXX XXXX . SLS has now made 3 additional disbursements on XX/XX/XXXX i n the amount of {$2300.00} to XXXX XXXX ( which was n't due until XXXX ) I believe they attempted to prepay both my home and auto insurance for the XXXX year. Our Homeowners Policy was only around {$1100.00} for XXXX . They also went of to make a second in error disbursement to XXXX XXXX on XX/XX/XXXX in the amount of {$1100.00}. Just a few days after, on XX/XX/XXXX we switched insurance companies to XXXX and prepaid the insurance for the year in the amount of {$610.00}. SLS then for the third time this year made an in error disbursement to XXXX in the amount of {$45.00} on XX/XX/XXXX ( after we already prepaid the year - see bank attachment ).
SLS, through all these disbursements, in which they did n't use common sense, put my escrow in negative up to - {$1100.00}. They also happened to do an annual analysis of my escrow in this time period which upped my monthly escrow by over {$400.00} a month for 3 months and then upped it more than {$100.00} a month the remainder of the year. Their error is causing us hardship by increasing our escrow more than 40 % per month. All I am asking is for some shared responsibility in this. I will pay it but they need to lengthen that time. Also, according to XXXX this is not an isolated case and I feel horrible for anyone else going through this with SLS.Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 37363
Submitted Via: Web
Date Sent: 2017-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-13
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I had a conventional mortgage with XXXX XXXX about six years ago, when I was challenged with keeping up with the payments due to my income decreasing. In XX/XX/XXXX, I applied for a loan modification with XXXX and they gave me the run around about how they could n't get the file finalized and approved by a XXXX modification agent. At that point I got in contact with the organization XXXX to see if they could assist with getting a loan modification for my home. Once XXXX started the process with the file for the modification, the loan was taken over by SLS ( Specialized Loan Service LLC. ). XXXX worked there magic and got me approved for a trial payment period. During this trial period, I made sure the payment was on time on the given date and continued to payments after the trail period ended. SLS never got back in contact with me stating that we meet the qualifications to get the modification approved. After this, due to drowning in debt, I was forced to file a Chapter XXXX bankruptcy, which at this point SLS choose to have no contact or doing with me until XX/XX/XXXX. This is when I started to receive numerous of letter from SLS stating that my home is in foreclosure and if I 'm interested in keeping the house to get in contact with SLS to see if I possibly could qualify for a loan modification or a forbearance. Since XX/XX/XXXX, the XXXX level has been so high I ca n't even explain it in words with this situation. I partnered up with a non profit organization to assist with the possibly of getting a loan modification with SLS in XX/XX/XXXX and I 've had nothing but the run around with SLS. Due to all the runaround SLS has given me, I now have a trustee sale this month and SLS is making every excuse in the world while my file is in underwriting that they ca n't hold off or postpone my sales date. I understand real estate and the importance of making sure that a loan file is completely done before submitting, with that being said I 've given SLS every document that has been needed for the file and all I continue to get is letters coming back stating they need more documents and I know I sent it the first time. So being cooperative i would call to confirm the exact documents SLS would need in the letter that 's been sent and I would fax the documents over the next morning, if not the same day. I would call and confirm that they received the documents the next day and some of the responses I 've received from the agents was, " Sir, it takes 48 hours to review the fax '', " Sir the fax number that an SLS agent gave to me does work anymore, you need to fax it to this number '', to " Yes sir received all documents that 's needed for your file and you should get a response within 5-7 days ''. Looking at some of the other complaints for this company on CFPB website, how is SLS still in business?? This is people 's livelihood your toying with and to have no consideration or compassion for clients situations is ridiculous. I think this need to be publicized so other people see what 's going on or even see they 're not alone on dealing with XXXX from this company. CFPB please help with this situation ASAP!!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90220
Submitted Via: Web
Date Sent: 2017-07-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-07-12
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We 're in the process of selling our home. When we reviewed the settlement statement we noticed a charge of {$89.00} that was titled " Late Charge to Specialized Loan Servicing ''. We 've never been late on any payments so I called Specialized Loan Servicing for an explanation and was treated rudely and in a very condescending manner. This is ironic because I 'm very knowledgeable about real estate finance and it was easy for me to understand the reason for the problem, but the representatives I spoke with seemed to have great difficulty articulating the company 's position which was, in short, that because the payoff quote was good for up to 30 days, they were charging a late fee in anticipation that I 'd be late on my XX/XX/XXXXpayment, which was not yet due at the time of the payoff quote, but which we had in fact paid when it became due. Their tortured explanation caused me to further analyze the payoff quote to realize that not only were we being charged a late fee, but we were also not being credited for the XX/XX/XXXX payment.
My simple request for an updated payoff quote was met with more rudeness, constant interruption, and condescension.Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 982XX
Submitted Via: Web
Date Sent: 2017-07-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A