Date Received: 2016-05-25
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I had an open account with SLS that required a balloon payment. I contacted the lender to request options for putting that balance on repayment. They told me there were no options. My husband, XXXX, passed away XXXX years ago. I am a XXXX who lives alone on a fixed income. I hoped that the lender would be able to work with me to find a repayment arrangement that would work for both of us, however, they were not willing to provide any options. I then went to my local bank to apply for a loan to pay the balloon payment. That loan was approved and disbursed on XXXX XXXX, 2016 with payment sent directly to Specialized Loan Servicing LLC from my local bank ( copy of check is attached ). SLS did not process my check until XXXX XXXX, which was two days after the date of the payoff they quoted ( copy of payoff letter attached ). I then received a statement dated XXXX/XXXX/16 requesting a payment due of {$120.00}. I contacted SLS and they insisted I owed the {$120.00}. You will see by the statement attached the balance reflected as of XX/XX/2016 is - {$47.00}. I do n't understand how I could possibly owe them {$120.00} when I have a credit balance. The representative insisted I needed to make the payment. Today I am mailing them a check for XXXX days worth of interest from XX/XX/XXXX ( date of payoff quote ) to XX/XX/XXXX, which should clear my account in full. Although I truly do n't believe that it took 23 days for the check to be delivered via US Postal service from XXXX, XXXX to XXXX XXXX, XXXX. Had they processed my check timely, they would have had the payoff significantly prior to XXXX XXXX. It appears from my experience, SLS is not in the business to service their customers, but rather to bully them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 184XX
Submitted Via: Web
Date Sent: 2016-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-05-24
Issue: Settlement process and costs
Subissue:
Consumer Complaint: In regards to the CFPA complaint response to # XXXX Specialized Loan Servicing failed to have a Date for the Blank Endorsement Stamp on Equity Agreement Document and to identify the " Note Custodian '' holding original documents.
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: 2016-05-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-05-24
Issue: Managing the loan or lease
Subissue:
Consumer Complaint: This was a HELOC ; I paid the final balance IN FULL, then am told I need to pay {$85.00} to " pay off '' the loan, including a " late fee '' of {$5.00} ( on an account with NO BALANCE, and interest of XXXX cents. A " statement fee '' of {$25.00} and a " recording fee '' of {$36.00} This loan was paid timely, in full and regularly ; however, it was SOLD to a third party, Specialized Loan Servicing XXXX., who seems is in the business of generating fees when they ca n't generate genuine late payments. The amounts are small, the principle is outrageous.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98122
Submitted Via: Web
Date Sent: 2016-06-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-05-24
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: On XXXX 2016 I sustained weather damage to my residence. My insurance company issued a check for the repairs in my name/lender. I contacted Specialized Loan Servicing damaged property department on the procedure in getting the check endorsed by their company. The representative gave several documents that was required, to do list, that was needed with the check. I mailed the check endorsed by husband and myself with the to do list documents via federal express. I verified the check and documents received by the loss draft department which was received on XXXX XXXX, 2016. I waited several days after not receiving anything in the mail to make contact with the loss draft department of SLS. The representative told me I was missing the XXXX items which was the contractor 's waiver of lien and the signed copy of contract. I explained to the representative that this document was not apart of the to do list given by the first representative. The asked about the procedure again to be sure I understood what to expect next. The rep. stated my check was deposited into an account and once the check cleared a check would be made payable to the contractor and myself. I asked about the interest on the check and she stated its deposited into a non-interest bearing account, so no interest is paid to me nor to the lender. I stated, that really did n't sound like accurate information but.. whatever. I forward the XXXX outstanding documents to them to release the check. I once again verified receipt of the documents, received on XXXX XXXX, 2016 by loss draft dept. I did a follow-up call with SLS, loss draft department again on XXXX XXXX, 2016 informing them the work will be completed on the XXXX and funds needed to be released. I also requested the final inspection from their inspector since the rep. informed me it would take two weeks to get an inspector to sign off. The rep. informed me i would be getting the funds via fedex and provided me with a tracking #. I did not get the funds on the XXXX as promise so another call made on Monday XXXX to XXXX office XXXX XXXX. I explained my problem to his assistance that I 'm trying to get funds released to pay my contractors and not getting any cooperation from Loss Draft Dept. She forwarded me to Executive Services to be told that Loss Mitigation ( Draft ) department is not their area and could not help me. I make another call to XXXX XXXX office today XXXX and was told the same thing that XXXX XXXX can not retrieve my loan information and can not help me. I called Loss Draft to inquire once again about funds. I told them the money was debit from my impound account on XXXX XXXX, 2016 ... why have n't i received the funds? It has been since XXXX XXXX until present XXXX XXXX, 2016, I cant get funds released and no interest on a very large deposit to SLS account. SLS, Loss Draft Dept. is making a large return on other individuals insurance claim checks. Where 's the interest on my insurance check and where are my funds?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AR
Zip: 722XX
Submitted Via: Web
Date Sent: 2016-05-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-05-23
Issue: Settlement process and costs
Subissue:
Consumer Complaint: Still waiting to received a " CERTIFIED '' copy of true original Heloc Agreement. Copy needs to be the full size and not a reduced image size and mailed to my address as well as a copy sent to the CFPA.
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: 2016-05-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-05-22
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I pay my mortgage to Specialized Loan Servicing ( SLS ), and recently I received a Notice of Default, for not making mortgage payment. Although, I have made my mortgage payments. I am aware SLS has me sending my payment to a XXXX address, although they are located in XXXX ; while I am a resident of XXXX. I have had issues with SLS, before due to them not sending me mortgage statement since I had a bankruptcy, and not allowing me to send my payment through online banking check instead of by mail ; which always seems to delay the process, and probably has accumulated late fees, but I would not know since I do not receive a mortgage statement. Overall, no reason for SLS to be sending me Notice of Default ; when they are at fault for not tracking my payments correctly.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91722
Submitted Via: Web
Date Sent: 2016-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-05-19
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have a Mortgage Loan which is currently being serviced by SLS. They got this Loan from XXXX, with whom I started the HAMP Loan Modification process XX/XX/XXXX - about 4 Years back. I have submitted tons of documents in the last 4 Years but am getting rejection after rejection for wrong reasons. A case in point is the latest rejection from SLS vide their letter dated XXXX XXXX XXXX ( copy attached ). They are saying that they are unable to create an affordable payment equal to XXXX % of my Monthly Gross Income which is totally wrong based on the figures they have given themselves in the attached report. The Unpaid Balance ( $ XXXX+ $ XXXX ) is about $ XXXX. If we apply the HAMP Standard Waterfall steps, at 2 % for 40 Years the Principal and Interest figure comes to about {$2100.00}. If we add the Escrow figure of {$790.00} ( $ XXXX+ {$630.00} ) they gave in this letter, the PITI come to {$2900.00}, which is well within the XXXX % ( {$2900.00} ) of the Total Monthly Gross Income ( {$XXXX} ) they have shown in this letter. In fact if you see the Escrow amount given in the attached Mortgage Statement, it is only {$610.00} and if we take this Escrow figure, then the XXXX % PITI figure comes to only {$2700.00}, which is well within the 31 % figure of {$2900.00}.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11370
Submitted Via: Web
Date Sent: 2016-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-05-18
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Complaint : Specialized Loan Servicing ( SLS ), LLC improperly credited funds for payments received to my loan account In XXXX XXXX, I requested and received a payoff notice from SLS dated XXXX/XXXX/XXXX ( attached ). The statement reflected a payoff amount of {$33000.00} due by XXXX/XXXX/XXXX. On XXXX/XXXX/XXXX, SLS had received funds in the amount of {$33000.00} in three ( 3 ) separate installments ( see XXXX/XXXX/XXXX and XXXX/XXXX/XXXX statements attached ) : {$15000.00} received by SLS on XXXX/XXXX/XXXX {$15000.00} received by SLS on XXXX/XXXX/XXXX {$3500.00} received by SLS on XXXX/XXXX/XXXX In addition, my regular monthly payment of {$280.00} due on XXXX/XXXX/XXXX was paid on XXXX/XXXX/XXXX : {$300.00} received by SLS on XXXX/XXXX/XXXX ( {$280.00} ( Principal and Interest payment ) due XXXX/XXXX/XXXX plus extra {$15.00} ( voluntary Principal payment ) ) These payments were made through direct bank deposits. Although I did not send the payments by wire as directed in the loan payoff documentation, SLS received payments from me in the amount of {$33000.00} by XXXX/XXXX/XXXX, way ahead of the XXXX/XXXX/XXXX payoff expiration period, giving ample time for the funds to clear in order to satisfy my pay off amount of {$33000.00}. Unfortunately, I received a statement dated XXXX/XXXX/XXXX ( attached ) indicating an outstanding balance of {$89.00} due on XXXX/XXXX/XXXX. Although SLS received the full payoff amount on XXXX/XXXX/XXXX, I was charged interest of {$220.00} on XXXX/XXXX/XXXX and {$24.00} on XXXX/XXXX/XXXX. I would like to understand the breakdown of these interest charges : 1. What was the outstanding principal balance used to calculate the {$220.00} interest charged on XXXX/XXXX/XXXX 2. Why was I charged interest on XXXX/XXXX/XXXX if interest for the loan was paid up to XXXX/XXXX/XXXX ( see XXXX/XXXX/XXXX and XXXX/XXXX/XXXX statements attached )? 3. Why is my payment due date extending all the way out to XXXX/XXXX/XXXX when I satisfied the payoff amount on XXXX/XXXX/XXXX? On XXXX XXXX, XXXX, I called SLS to inquire why I still had an outstanding balance after satisfying the payoff amount back in XXXX XXXX. The representative understood my concerns and opened a ticket to address the issue. She instructed me to check my account by Wednesday XXXX XXXX, XXXX. I checked my account on Thursday XXXX XXXX, XXXX and no changes were reflected. I called SLS again on Friday XXXX XXXX, XXXX at XXXX am and was transferred to an Executive Service staff member who identified himself as XXXX. XXXX indicated that since the payments had come in separate installments, SLS had charged me forward interest for the following month. He suggested that if I did not like the way SLS had handled my funds, he could go ahead and reverse the funds right back to me! He offered to send me a new payoff statement reflecting my outstanding balance and instructed that I send the final payment via wire. This was not my idea of a resolution. I mentioned that since I was not satisfied with his explanation, I was going to seek the advice of an attorney before deciding whether to proceed with requesting another payoff notice from SLS. SLS 's practice of forward charging interest did not seem fair or clean to me. Although I did not share attorney information with SLS I received correspondence in the mail from SLS dated XXXX/XXXX/XXXX ( attached ) indicating they had sent communication to my attorney requesting confirmation of their representation. I am not sure which attorney SLS is communicating with since I never provided attorney information to them and never indicated that I was going to direct an attorney their way. It appears to me that SLS is engaging in unfair practices that work against me the customer, blocking me from completing my loan payoff, and is now attempting to give me the runaround with this bogus attorney correspondence. Your intervention in the resolution of this matter is requested, as I have been unsuccessful in motivating SLS to address this issue of adequately and fairly crediting payments to my account.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 14580
Submitted Via: Web
Date Sent: 2016-05-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-05-17
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: SLS customer service told me my mortgage payments were current and I did not have to pay the XXXX XXXX payment because I had done a loan modification and the loan was current. The payments are {$840.00} each. But they require that the payments be sent by XXXX XXXX because the payments can not be paid online at their site. That 's another {$16.00}. The total payment is $ XXXX/mo. I was current until they said I did n't have to pay the XXXX Payment. I paid the XXXX payment today and went online to check the amount and it says I owe for XXXX and XXXX. I sent the XXXX payment via XXXX XXXX as usual for the XXXX Payment. I called and they said I owe XXXX months {$1700.00}. The customer service people who told me I did n't have to pay I questioned and she put her supervisor on the line too. He said the same thing, the loan was current. That call was on XXXX/XXXX/XXXX. I called yesterday and the customer service rep I spoke too said they should not have told me that and that they had mislead ( lied ) to me and she had notes in the file that they did in fact tell me that and that all their calls are recorded. She said she would get back to me because she wanted her supervisor to review the phone recording and ask me if that was ok. I am praying its not the same supervisor that lied before. I checked today and there is a class action lawsuit filed against this company in Colorado where they are located and multiple other complaints. I am sacred that I might loose my home and have been sick and XXXX last year. It would be impossible for me to move now. But based on their information my loan is current and has been since the modification last XXXX XXXX. But I think they tried and are still trying to file foreclosure on my home. The last XXXX cost me {$13000.00} on top of my mortgage and I received a new loan modification package from them yesterday. I did not ask for a modification. My loan is current except for their trickery about the XXXX XXXX payment. I 'm worried since my credit is bad because of my illness last year and to refinance would be difficult for me because I 'm self employed. And when I requested a payoff statement from them or even payment coupons they would not give them to me. The loan officer I went too said to get another loan I had to have a payoff statement. They will not give me XXXX. I 'm trapped and they are going to steal my home. Sincerely, XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 43068
Submitted Via: Web
Date Sent: 2016-05-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-05-16
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: This complaint is regarding SLS.net, or Specialized Loan Servicing , LLC, located at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX My client has resided in XXXX, XXXX, for the last 8-9 years and has no plans of coming back to US for at least 12 more years, if ever. This was clearly communicated to SLS from XXXX XXXX when property was first listed, or 17 months ago. Since XXXX XXXX XXXX contracts were submitted to SLS to approve or to disapprove the short sale for XXXX XXXX XXXX XXXX XXXX, XXXX XXXX. 1. First contract submitted in XXXX XXXX for {$150000.00}. At that time owner still paid his mortgages despite losing his job with XXXX XXXX in XXXX, XXXX. Payments were made from his savings account and continued until SLS asked for a sales price of {$160000.00}. Another identical unit, however no repairs needed, came on the market for {$120000.00}. Buyer of unit # XXXX was able to void the contract since no answer from SLS was obtained in time, and purchased unit # XXXX : short sale approved by SLS and settled in XXXX XXXX. I happened to be the sales agent on that transaction. and know that short sale was approved for {$130000.00}. 2. Second contract for {$100000.00} was submitted to SLS XX/XX/XXXX. Since there was no answer whatsoever from SLS, buyer voided the contract after 60 days of waiting for any response. XXXX. Third contract was submitted in XXXX XXXX for {$120000.00}, a reasonable price considering condition of the property which may require up to {$20000.00} in repairs. This contract has been extended a number of times and is still valid. Last extension is until XXXX XXXX, XXXX. Since the beginning of this 17 months process XXXX attorneys resigned from the case as dealing with SLS was an impossible task, no coherent answers from any one source were attainable. In other words, one person will provide information on this case totally opposite to what the other team member would say. No email communication is used by SLS clearly to avoid traceable errors and misstatements. On XXXX XXXX, XXXX, XXXX XXXX, XXXX. sent in Authorization from the owner to allow him access to the file. On XXXX XXXX a file of XXXX pages, documents REQUESTED by SLS were faxed to SLS : Purchaser 's verification of funds ; Lender letter of updated pre-approval for the purchaser for {$130000.00} ( buyer agreed to a higher price ) ; Mortgage statements for the owner-seller ( SLS could not find them ). We were assured that process of short sale approval is on the way! On XXXX XXXX, XXXX, I met appraiser/agent to conduct another BPO, # XXXX. On XXXX XXXX, however, without any notice whatsoever, file was closed and short sale denial was sent to the owner to XXXX, XXXX. I learned of this incidentally, called SLS to find out whether last BPO report came in. No notice whatsoever was provided to any of us. SLS decided that foreclosure on this property is more beneficial to the investors despite having a valid contract with a well-qualified and willing to buy purchaser after 6 months of waiting and complying with all requests made by SLS, LLC. See additional documentation that includes some documents from the 17 months process we were forced to endure.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20910
Submitted Via: Web
Date Sent: 2016-05-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes