Date Received: 2017-03-03
Issue: Settlement process and costs
Subissue:
Consumer Complaint: I was working with XXXX XXXX XXXX. I received a packet from the mortgage Co. Specialized Loan Servicing LLC Saying they had approved us for a Standard Modification. The interest rate was suppose to be lowered and it 's still the same. The payment only went down about {$200.00}. I am disappointed about it too because they said that it would be about {$600.00}. - {$700.00}. monthly payment. Now it 's XXXX. And after the end of the payments we 'll owe a Balloon payment of {$76000.00}. I am not understanding this. Need a lawyer.Which I do n't have the money for.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 27520
Submitted Via: Web
Date Sent: 2017-03-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-03-03
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I received a DELINQUENT TAX NOTICE dated XXXX/XXXX/XXXX concerning parcel # XXXX, which is in XXXX XXXX, Idaho. ( I do n't own any land in that county and never have. ) I made a copy of the notice and sent it to the mortgage company asking for an explanation. No reply was made. A Escrow Account Disclosure Statement, dated XXXX/XXXX/XXXX, was sent to me indicating a much higher mortgage payment will begin in XXXX XXXX, as a result of failure of me to pay taxes on the property in XXXX County that I do n't own. I 'm trying to get the mortgage company to recognize their mistake, but do n't seem to be having success.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: ID
Zip: 838XX
Submitted Via: Web
Date Sent: 2017-03-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-03-02
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I have fallen into a financial hardship after my husband passed away, My income has fallen and i fell behind on my mortgage and have not been able to bring my account current, i have submitted a complete hardship/modification assistance package on XX/XX/2017 and SLS is refusing to review me for any sort of modification assistance, I dont know what to do and i am afraid of loosing my home. I called SLS after i submitted the file on XXXX and they confirmed me that they received my modification assistance package and they even requested additional documents to review my file. i have been following up with SLS every day after submission and they have stated that the modification is being reviewed. after a week of review SLS has led me to believe that i was being reviewed on XXXX SLS stated that they will not review me for a modification. For the past week I was informed that i was being reviewed by SLS now with only 9 days to the sell date of my property SLS wants to proceed with the foreclosure. SLS is doing everything possible to sell my home and not help me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90706
Submitted Via: Web
Date Sent: 2017-03-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-03-01
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Lender / Servicer : Specialized Loan Service ( " Servicer '' or " SLS '' ) Property Address : By email : XXXX To : Distribution Dear Sir / Madam, 1. Multiple Requests for Mortgage Assistance ( RMAs ) submitted. Specialized Loan Service ( Servicer ) ( " SLS '' ) has erred by not evaluating my ( several ) loss mitigation application ( s ) in accordance with RESPA and CFPA. I have submitted several Requests for Mortgage Assistance ( RMAs ), in XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. a. Errors. SLS has imposed in each of my RMAs requirements to submit documents : 1 ) not applicable, 2 ) and/or not required for my circumstances ; 3 ) and/or have previously been submitted ; in violation of RESPA and CFPA. ( 1 ) SLS in the above ( 4 ) RMAs continually requests documents relating to my estranged spouse, even though that person : ( a ) Has not occupied or lived in the Property Address since XX/XX/XXXX ; ( b ) Has not contributed to the mortgage since at least XX/XX/XXXX ; ( c ) Has surrendered interest in the Property Address in a XX/XX/XXXX federal bankruptcy proceeding ; ( d ) Has been discharged from liability on mortgage by a XX/XX/XXXX federal bankruptcy court order ; and ( e ) Is precluded by court order from using the Property Address ( 2 ) I have on multiple occasions provided XXXX the following documents to demonstrate that my estranged spouse is a non-occupying, non-contributing, former borrower, who has no liability on loan number ( a ) XX/XX/XXXX-present rental agreement for a residence other than the Property Address ; ( b ) Discharge order in federal bankruptcy case ( entered XX/XX/XXXX ) ; ( c ) Credit report ( s ) demonstrating residence at an address not the Property Address ; and ( d ) Court order giving me ( temporary ) exclusive use of the Property Address Despite my claims and supporting documents, SLS in all ( 4 ) of the above RMAs repeatedly and continually asks me for documents about the non-occupying, non-contributing, former borrower, who has no liability on loan number, and to which I have no access, and can not provide. Such repeated requests include documents about income, liabilities, assets, taxes, and unemployment, for the non-occupying, non-contributing, former borrower, who has no liability on loan number. b. Failure to evaluate a complete loss mitigation application. SLS has requested the same documentation several times, to which I have responded each time. In every case, SLS has failed to evaluate me for mortgage assistance because I can not provide requested documentation to which I have no access, which is not applicable, and/or not required, and/or has been submitted previously. c. Failure to provide accurate information. SLS is continually requiring a signature and/or information from a party unnecessarily. SLS continues to require financial information for a non-occupying, non-contributing, former borrower, who has no liability on loan number. d. Dual tracking. SLS has engage in improper dual tracking by filing a motion for relief in bankruptcy case no. ( Bkr. E.D. XXXX Va. ) while complete loss mitigation application ( s ) are pending. Further, SLS has sent multiple Notice of Default and Notice of Intent to Foreclose letters while multiple loss mitigation applications are pending. e. Failure to Respond to XXXX. SLS has failed to acknowledge and failed to respond to my multiple Requests for Information sent on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. 2. Conclusion and desired resolution. For the above reasons, SLS is in error and not in compliance with RESPA and CFPA. I desire SLS to remove my estranged spouse from the loan and designate me as the primary and sole borrower, process fully and completely evaluate my application for a loan modification, and respond to my repeated requests for information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 22102
Submitted Via: Web
Date Sent: 2017-03-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-03-01
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: On XXXX XXXX, 2017, I contacted Specialized Loan Servicing LLC ( " SLS '' ) to pay down my mortgage by {$250000.00} and have the monthly payment recalculated ( " recast '' ). The representative told me to fax SLS a letter requesting the {$250000.00} pay-down and loan recast, and the loan investor would then be notified and have 30 days to respond. I faxed the letter on XXXX/XXXX/17, and followed up with SLS two weeks later. The representative confirmed that SLS had received my letter, but that the investor still had two weeks to respond. On XXXX/XXXX/17, I contacted the company again and was notified by XXXX ( Employee # XXXX ) that I was given incorrect information and that I needed to make the principal pay-down first and then submit the letter requesting a loan recast. XXXX could n't explain why I was given incorrect information by SLS customer service twice, or why they neglected to let me know that I was not following the correct process to have my loan recast. I instructed XXXX to log a consumer complaint and that I would be reporting SLS to the CFBP.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DC
Zip: 20009
Submitted Via: Web
Date Sent: 2017-03-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-03-01
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: Specialized Loan Servicing LLC ( SLS ) failed to offer all the loan modifications my mortgage investor, XXXX XX/XX/2005, makes available based on the language in their pooling and servicing agreement. My loan is not guaranteed by the federal government. SLS only offered programs that are available for federal guaranteed loans. Further, SLS failed to state the " applicable requirements '' for XXXX XX/XX/2005 as required by RESPA Section 1024.41 ( d ) 1. My loan modification appeal letters and Qualified Written Request actually stated the requirements and guidelines in the pooling and servicing agreement and what modifications that allowed. In SLS seven response letters to my letters, they never even acknowledged that each of my letters cited the PSA and proved what my mortgage investors requirements were. Each SLS letter repeated that they had to follow the investors requirements, could not do otherwise, and had made available all the loan modifications my investors allow. So they ignored the facts, never discussed those facts and repeated in a non-responsive way their position. SLS has never acknowledge or discussed directly their violation of Section 1024.41 ( d ) 1 I mentioned. Instead, they would refer to clauses in RESPA and Regulation X that said they did n't have to disclose anything about the PSA. Their responses used the original language of RESPA before it was amended and failed to account for what the CFPB said in its interpretation of the final rules that were published in the Federal Register. Once again, they would not directly discuss an issue presented and used boilerplate language which was not relevant or had been amended to justify their non-responsive position. What started out as my attempt to have SLS offer me a loan modification my mortgage investor allows and approves of, turned into something greater. Through SLS letters to me and my six responses which total 46 pages, SLS demonstrated in its responses that what it was saying to me is most likely how it deals with all loan modification applicants and all borrowers. So this complaint is not just about my loan. It is about all loans serviced by SLS that are not guaranteed by the federal government. Based on how they incorrectly apply RESPA and their use of repetitive answers which are non-responsive to facts and issues presented, there is a high probability this reflects how SLS deals with all borrowers. I have read RESPA and Regulation X, the CFPB interpretations of the final rules published in the Federal Register, the Mortgage Settlement Act, California law, U.S. trust law, pooling and servicing agreements, and studied th operations and structure of the mortgage servicing industry. I have also talked with attorneys and other experts about all this including an attorney who works for the XXXX. My complaint is the accumulation of over 2000 hours of research and analysis about issues that relate to mortgage servicing. I may be submitting a complaint as a consumer about my loan but I 'm also a management consultant who is submitting this complaint on behalf of all borrowers. Let me summarize what SLS has done wrong here. SLS did not follow XXXX XX/XX/2005 Sale and Servicing Agreement requirements and guidelines for loan modifications. SLS failed to meet the burden of offering all the loss mitigation options the investor allows as the CFPB requires. SLS failed to state the applicable requirements of XXXX XX/XX/2005 that RESPA Section 1024.41 ( d ) 1 requires. SLS falsely stated that it is following the requirements of XXXX XX/XX/2005 when it is not and evidence has been presented to prove it is not. SLS incorrectly used clauses from RESPA and Regulation X to justify it 's lack of disclosure. This remains an active appeal. Attached is a 16 page case that justifies a CFPB investigation and enforcement action
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92201
Submitted Via: Web
Date Sent: 2017-03-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-03-02
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: My mortgage rated was fixed for ten years, then went to a variable rate. The last fixed rate payment was due and paid XX/XX/2016. The loan was originally through XXXX, but after many changes is now with SLS Servicing. When SLS changed my rate, effective XX/XX/2016 they dropped it two points, from 6.625 % to 4.625 %. They told me the new rate, per my contract, is the LIBOR ( then 1.55011 % ) plus the index ( then 2.75 % ) for a rate of 4.30011 %. So I asked why I was getting a new rate of 4.625 %, which is obviously more than the formula they gave me. They said the rate, per my contract, ca n't change more the 2 % per year, and sent me a copy. But this is what the original contract says : on page XXXX, section XXXX, section ( D ) Limits on Interest Rate Changes : [ The interest rate I am required to pay at the first Change Date will not be greater then 11.625 % or less than 2.750 %. Thereafter, my adjustable interest rate will never be increased or decreased on any single Change Date by more then 2.000 percentage points from the rate of interest I have been paying for the preceding 12 months. My interest rate will never be greater than 11.625 % ] To me this clearly says that when we first go from fixed to variable at the end of ten years the new rate can be anywhere from 11.625 % down to 2.750 %. That 's why those figures are mentioned specifically. After that ( hence the word 'thereafter ' ) the rate will change yearly, but not more than 2 %. I have since written to them four times and called three times ( it is often impossible to get through on the phone ), but they insist that my rate ca n't change more than 2 %. I 've asked why the range of 11.625 % to 2.750 % is spelled out for the initial change then, and what the 'thereafter ' means, but they just insist they are right and I am wrong. Today on the phone they literally said they just wo n't change it, regardless of what my contract says.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98682
Submitted Via: Web
Date Sent: 2017-03-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-03-01
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I fell behind on my mortgage after my wife became ill and the medical bills began to pile up. I was forced into bankruptcy and the payments are overwhelming. I hired an attorney to assist me in applying for a loan modification with my lender, SLS. My attorney submitted my complete financial package to SLS in XX/XX/XXXX ( Approximately XX/XX/XXXX ). My attorney has been calling SLS every week to follow up and provide any additional paperwork they may need. My attorney states they have been very diligent in providing all paperwork on time and confirming all paperwork was received. I was also informed by my attorney that servicers such as SLS are no longer allowed to " evade '' and stall the review process ( RESPA Regulation X ). I feel my servicer has done just that. Today is XX/XX/XXXX and my application and all paperwork has been submitted by my attorney. The most recent note are attached to this complaint. Just today SLS told my attorney that they were going to deny my application for missing paperwork. Today it has been over two months since I applied. All paperwork that was requested was supplied in a timely manner ( At most within a few days of it being requested ). SLS is playing games, dual tracking me, evading review and stalling when they have enough information to make a decision. I am on a monthly payroll. I only receive one check a month and that is it. My wife gets a very small income from royalties and other than that our application is very simple. My attorney states SLS is doing this on purpose to force me to get frustrated and just give up my house. This appears to have broken the RESPA laws and I would like the CFPB to look into it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 923XX
Submitted Via: Web
Date Sent: 2017-03-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-02-28
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Mortgage paid off by certified check on XX/XX/XXXX. Company did not submit request to XXXX County until XX/XX/XXXX. I can not get a straight answer from SLS about receiving my deed. Getting conflicting information from two different representatives at SLS. Promised documentation not sent to me by company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30135
Submitted Via: Web
Date Sent: 2017-02-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-02-27
Issue: Application, originator, mortgage broker
Subissue:
Consumer Complaint: I have tried to obtain the paper work needed for my mortgage and up to now SLS Mortgage services has not given all the paper work to XXXX. XXXX is telling me that page ( XXXX ) of the note is missing ( this is the page that shows the endorsement ) and they also need the updated assignment SLS sent the same papers previously and XXXX informed them then that there was paperwork missing. I really need help in this matter XXXX Loan # : XXXX XXXX Acct # : XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11357
Submitted Via: Web
Date Sent: 2017-02-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No