Date Received: 2017-06-19
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Difficulty submitting a dispute or getting information about a dispute over the phone
Consumer Complaint: Loan extension requested from ten year term -- -- to more additional years on time payments-NOT AN OPTION! INSTRUCTIONS- The company made it an application loan modification ... XXXX XXXX Sent many faxes with delays-185 pages-SHOWING ASSETS AT XXXX CASH and two homes no consumer debt late payments -or concerns- Many delays- Called with Delay rejected underlined items vs. circled line items then went to bank circled items and rejected cause header information was not on the page only showed the account number which matched the prior submission. Required me to send three times delaying pkg from XXXX XXXX to XXXX XXXX XXXX still 60 days from payment being late- These policies delayed kit from going to loan underwriting for 5 months. 150 days! Told thirty-days evaluation was required -- - XXXX XXXX XXXX They needed more time no commitment to when my decision would be made. XXXX XXXX XXXX They requested XXXX payment and two more trial payments of XXXX without any commitment I submitted this early-There is no reasonable explanation for late payments. " Loan was current and paid XXXX XXXX bill payment from XXXX XXXX but was rejected for interest only -- and returned not the full balloon payment -- for 121st payment. On XXXX XXXX XXXX Received loan modification for nine years only payment XXXX was XXXX prior- XXXX first mortgage exists with escrow account total is not viable. So no workable deal was made being disabled -- -a 20- year product would be viable -standard in loan industry today they made it nine. Want to refinance to reasonable payment-now lenders will not- Can not secure a loan with late notes on mortgage -- - forced to five percent interest and payment is not AFFORDABLEn with nine years as term for interest and balance after XXXX reductions in the process. Most probably I will be forced to sell my home. This is not fair or reasonable -policies favored investors and have not been true and forthright-correction needed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-20
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My name is XXXX XXXX. Along with my ex-husband XXXX XXXX, we purchased our home in XXXX NJ in XXXX. Unbeknownst to me, my husband took out a second mortgage line of credit for {$75000.00} in XXXX. When we got divorced, the property was awarded to me through the divorce court. As part of the agreement, XXXX XXXX was to continue making the mortgage payments on the property. Since all mortgage bills were sent to his apartment after he moved out, I was not aware of the existence of this second mortgage. I was recently served with legal papers by the holder of this mortgage, Specialized Loan Servicing, stating that the loan was 15 months delinquent and that the amount past due was {$9800.00}. I immediately began trying to contact Specialized Loan Servicing to discuss the matter, but their agents refused to discuss with me, claiming that I was not the borrower on the loan. I tried again and again, I asked for a supervisor, but could make no progress. I dont see how it is possible that SLS can try and initiate foreclosure proceedings against me, the rightful owner of the home, without even giving me the opportunity to work to resolve the matter. I am not able to repay the full past due amount in one large sum, but would like to work something out. I am the legal owner of the home, and this is a second mortgage. The first mortgage is current and we have no issues and I feel it would be much easier for Specialized Loan Servicing to attempt to work this out with me or to transfer the loan into my name. As it stands now they will receive nothingthey are in 2nd position and my ex-husband is not the rightful owner of the home so I dont see how they would have any legal grounds to foreclose, especially since I am trying to resolve the matter with them. I am contacting your agency to see if you can investigate the actions of SLS and assist in getting this logjam broken and getting the lender to recognize that even though my name is not on this loan, I was the rightful owner at the time of origination, I occupy the home and I am the rightful owner now and I have a court order that proves it. If I was not part of the equation for SLS, why would they serve legal paperwork to me?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07728
Submitted Via: Web
Date Sent: 2017-06-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-19
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In reference to complaint submitted # XXXX the SLS company response does not address the issues of previous complaints. We do not understand this response. The company refers to two earl ier written communications but did not provide the copies of them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 28451
Submitted Via: Web
Date Sent: 2017-06-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-16
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We were approaching 80 % of o ur LTV thr ough XXXX , our previous mortgage company, which told us through their amortization schedule that at {$190000.00} we would be at 79.9603 % and under the 80 % required to drop PMI. Around XXXX of XXXX our mortgage was bought out by Specialized Loan Servicing. Alth ough we have been paying ahead of schedule, they have never sent us an amortization schedule even after we have requested it. On XXXX XXXX , XXXX we inquired about the removal of PMI for our mortgage, since on XXXX XXXX we paid down our mortgage to {$190000.00} and below 80 % of our LTV wh ich XXXX Mortgage and XXXX agreed was our init ial LTV rati o. Whe n SLS ( Specialized Loan Servicing ) too k over our mortgage they never sent us an amortization schedule. After receiving the email they claimed that we were not at 80 % and needed to prove our house had not lowered in value by signing papers to have SLS charge for a BPO/Appraisal for up to {$800.00}. They then told us we were not at 8 0 % LTV because instead of using the original house appraised value or the sale price they claim and are continuing to claim that they are allowed to use the original loan amount as their LTV base number. The appraisal price was {$240000.00}. The sale price was {$230000.00}. The original loan amount was {$220000.00}. We paid 5 % down on the house and SLS is not including that into their calculations for LTV. This is elementary math. How can a mortgage company run with em ployees that can not do elementary math. They have since charged us 3 months worth of PMI at {$88.00} per month claiming that we are not eligible to remove our PMI. We have since sent another email on XXXX XXXX , again asking for PMI removal. They did not respond, when called later they claimed that they assumed the " issue was closed ''. On XXXX XXXX , we provided evidence through a fax, that we have met all requirements necessary from our mortgage company to remove PMI, we also included a real estate market comparative analysis/BPO that our house has not only maintained its value but increased in value by 8.5 %. They did not respond. Again we followed with a phone call and they continue to argue that we are not at 80 % but believe we are at 82 %. Our current loan balance is {$180000.00} or 79.71 % of the original sale price of {$230000.00}
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60453
Submitted Via: Web
Date Sent: 2017-06-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I am XXXX XXXX th e POA of my mother XXXX XXXX XXXX , my mother whom has had XXXX XXXX . My mother signed a mortgage with Specialized Loan Services address XXXX XXXX XXXX XXXX XXXX XXXX XXXX , CO XXXX . I submitted several request for a copy of the original loan that she signed for and to know avail I have not received it. I solicit your help in thi s matter.Loan # XXXX Property Address XXXX XXXX XXXX XXXX XXXX GA.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32780
Submitted Via: Web
Date Sent: 2017-06-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This involves account number XXXX SLS, the servicer, has repeatedly ignored my requests to remove XXXX late charges. I have asked SLS to change the due date from th e XX/XX/XXXX of each month FORWARD to the XX/XX/XXXX of each month to stop the confusion that has led to late payments. Those requests have been ignored. SLS services XXXX loans I have including the XXXX being discussed now. Several months ago, unsolicited, they offered to modify the other XXXX notes to interest only for an additiona l five yea rs. I expected they intended the offer will all XXXX notes. Again, my inquiries on this have been ignored.
SLS has refused to remove the late charges. The conduct of SLS is at best reprehensible if not criminalCompany Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-06-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-06
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This is the third servicer I have had since refinancing 9 months ago. In the process, records of my tax and insurance products that should have been paid by the escrow account were lost. As a result, my condo insurance was not renewed on time and it required several phone calls to both the insurance company and the servicer to resolve. In addition, because the tax payments were not accurately carried over, my escrow account was nearly all refunded and the payment adjusted incorrectly to a much lower amount, which will then cause a big bill to the escrow down the road. It has taken several phone calls with the servicer and the issue is still not resolved. On multiple occasions I was promised a call back and did not receive one.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30342
Submitted Via: Web
Date Sent: 2017-06-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-02
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Mortgage Servicer, Specialized Loan Servicing ( SLS ), is employing unfair, abusive and deceptive practices. I am an XXXX XXXX year old Veteran of the XXXX XXXX I have lived in my current resident since 1996. The debt on the mortgage has been serviced adequately and timely prior to my current situation. A simple analysis of the account record will attest to that. While I have retirement and limited other income, my entitlement benefits have been interrupted. Once the benefits are resumed the, mortgage debt will be adequately covered. SLS knew I was XXXX yet they served foreclosure complaint at my resident in an attempt to make it difficult for me to response within the 20 day statutory limitation. SLS has not participated in the loss mitigation process in good faith. Disparate financial treatment is not a part of my sentence. SLS filed residential foreclosure action while in loss mitigation review. After a request to the court for mediation, SLS falsely informed the court that no active loss mitigation us being reviewed and went on to falsely indicate that loss mitigation was denied. Contrary to the Loan servicer 's claim, loss mitigation is on going which is evidenced by continuous written correspondence with SLS. While there has not been a denial, requests for SLS foreclosure prevention options and request for mortgage assistance have been declared incomplete or stale or in need of resubmission without comprehensive explanations. In the months leading up the foreclosure complaint I tried to work things out through mediation. Requests for mediation were rejected. SLS appear to be participating in a sting or scam. They are stringing me along with false hope of loss mitigation while proceeding with foreclosure. I would like to keep my home plus I have equity in the house and I deserve to get the equity. The tactics being employed by SLS is designed to deprive me of the house and the equity. What normally happens in the industry is that, the mortgage holder will buy the property at the foreclosure sale for a hundred dollars ( {$100.00} ). As such, leaving no after sale credit for the home owner. In effect, cheating the homeowner of deserved equity.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32712
Submitted Via: Web
Date Sent: 2017-06-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-02
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: In XXXX 2016, we were having trouble making payments on our loan from Specialized Loan Servicing as the payment went up by a {$1000.00}. Our monthly payment went up from XXXX to XXXX . We requested a loan modification and were finally approved in XXXX 2016 after months of being given the runaround. Once we were approved for a loan modification we did 3 months of trial payments for about XXXX . Once we got the official agreement, the payment went to {$2700.00}. Basically, we are back at where we started and ca n't afford that payment. Their customer service tends to be rude. XXXX XXXX sold our loan to SLS and ever since then we have had a lot of problems. I feel like they tricked us and gave us temporary relief with the trial payments we could afford and then when it was time to make if official the payment went way up again. How does this even make sense. We are very frustrated with the process and not sure what approach to take next.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94519
Submitted Via: Web
Date Sent: 2017-06-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-06-01
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I have been trying to get a short sale approved and closed for the past two ( 2 ) years, since XX/XX/XXXX, after failing to be approved for a loan modification despite my valiant attempts to do so for the preceding two years, since XX/XX/XXXX. I would have rather kept my home, but when they refused, I then tried to at least avoid foreclosure.
I know have four ( 4 ) offers, one that is all cash and one that is for more than {$15000.00} higher than the bank valued the house for, but they would rather foreclose on me than approve the short sale. This is why I need the CFPB 's assistance. I owe approximately {$220000.00} on a property that is today worth {$140000.00} per the most recent appraisal. I am underwater by at least {$80000.00}, and the house is need of a significant amount of repairs, at least {$30000.00} worth. The following are the challenges that I have experienced trying to avoid foreclosure via a short sale. I now have only seven ( 7 ) days left to avoid a foreclosure. Only today did I learn that I could be assisted by the CFBP. As bleak as it is, I am committed to doing all that I can to avoid foreclosure. 1 ) I had XXXX mortgages, a first and a second. XXXX serviced by the same lender, XXXX XXXX ( prior to SLS taking over ). My mortgage servicing was initially with XXXX XXXX XXXX ( XXXX 's XXXX XXXX ), but was transferred to Specialized Loan Servicing ( SLS ) at the end of last year ( XX/XX/XXXX ). In XX/XX/XXXX, the 1st mortgage approved the short sale, but the 2nd mortgage did not. Reason? They wrote me stating that they had determined that I was too far underwarter for the 2nd to recover anything. They were, therefore, going to release the 2nd mortgage lien. Good news! Or so I thought. The 2nd mortgage release was never forthcoming from XXXX XXXX XXXX XXXX XXXX department. Instead, the 1st mortgage ( keep in mind it was the same company ) denied my short sale because I did not close in time ( because we needed the 2nd mortgage release to be able to actually close. Everything was ready for the closing. ) Classic entrapment, because I need them to approve the short sale for XXXX the 1st and 2nd mortgage, not just one of them. And they had in fact stated in writing that the 2nd mortgage would no longer require consideration for a short sale because they were instead going to release the lien. But they never did. Instead, the referred me to foreclosure. Before the foreclosure could take place in XX/XX/XXXX, the XXXX XXXX banking scandal broke. At the same time, I was petitioning through all known avenues, including elected officials. They finally agreed to postpone the foreclosure and review the case. 2 ) Prior to resolving the issue, XXXX XXXX transferred the servicing of the 1st mortgage to SLS ( Specialized Loan Servicing ) at the end of XX/XX/XXXX. I was then advised by SLS that as they were a new company, I had to begin the process over completely as though I had never before applied for a short sale. This meant I had to re-list the house for sale, wait for new contracts, and the whole long and drawn-out process. a ) Despite my protests and sending documentation proving they were overvaluing my house, SLS insisted that the value was {$180000.00}. Against the advice of all experts, I had no choice but to list it for that amount. In the in interests of time ( I had a postponed foreclosure sale hanging over my head ), I sent in the paperwork as soon as I received an offer. They denied it saying it was too low below the unrealistic $ XXXX value. b ) I kept appealing and by XX/XX/XXXX, SLS consented to do a 2nd appraisal on XX/XX/XXXX. This time the value came in at $ XXXX - still high, but much more realistic than the previous $ XXXX. I called them and asked if they would permit my brother to buy the property at that price ( I was running out of time, and once again, the foreclosure had barely been postponed ). They said yes, subject to their investor 's approval given my up-front disclosure that this was not an arms-length transaction. I submitted the paperwork. After taking a month to review with no response from them, I called SLS only to be informed that they were not even considering the offer because it was my brother. That this was against company policy - never mind that I had called the same company ( SLS ) a month prior and been advised exactly the opposite. By this time, we were now towards the end of XX/XX/XXXX. c ) I appealed yet again. I was then advised to re-list the property and send in the new offer I received. Keep in mind that I do not control how long it takes offers to come in, and the clock is ticking. I submitted the first offer I received - all cash, no contingencies. On XX/XX/XXXX, SLS did a 3rd appraisal. This time the value came accurately at $ XXXX for a quick sale, and $ XXXX for a sale in 60-90 days. NOTE : For all these appraisals, the property condition remained unchanged. It was merely an issue of accuracy and paying attention to the facts that had been made available to them. So the truth of the matter is that the XX/XX/XXXX appraisal is what should have always been done. It took them 3 tries and more than 6 months to finally get it right. The whole time, they were postponing the foreclosure in 30-day increments. All the above brings us to where I am today : I have sent SLS two contracts : One is an all-cash sale for $ XXXX ( quick sale ), and the other is with a mortgage buyer for $ XXXX ( regular sale ) to mirror how they valued my house. The 2nd offer is more than {$15000.00} higher than the current value of the house. However, SLS has now taken the position that too much time has passed ( please note that I have n't been the cause of delay ), and that they will not even consider the offer as the foreclosure sale date is now XX/XX/XXXX. Please note the following observations : i. SLS has been postponing the foreclosure sale date by 30-day increments this entire time. Should they desire, they can postpone it again. ii. At no point in time did SLS inform me of a deadline or cutoff by which they would need to have received the offers in order to consider it. Therefore, refusing to consider multiple, bonafide offers because of the time left borders on entrapment once again. It is grossly unfair to enforce a deadline that was never communicated. By definition, it is not a binding deadline. It is unilateral and arbitrary action with the worst of consequences for my interests.Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 210XX
Submitted Via: Web
Date Sent: 2017-06-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A