Date Received: 2016-01-20
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have had a HELOC product for the past 10 years for a rental property. The loan was originated by XXXX XX/XX/XXXX. Over the course of the loan, the servicing has been performed by XXXX, XXXX and now SLS. I have paid the loan in a timely fashion for the past 10 years. I have made the payments on-time and have never missed a payment, nor had a delinquent payment over the course of the loan. The loan 's servicing was recently sold to SLS over the past 9 months. Unbeknownst to my husband and me, the loan matured XX/XX/XXXX. I was never notified of the pending maturity, nor received a pay-off statement in the mail. I contacted SLS XX/XX/XXXX to make my monthly payment, as I was unable to sign-in online. I was told from the servicing representative that the entire loan balance had matured. I stated to the representative that I had never received any communication from them. The servicing representative indicated that the documentation was forwarded to an address that I no longer maintained, and had not maintained for over 30 months. The previous servicing agent ( XXXX ) had the correct mailing information on file, as I previously received my bill on a monthly basis with no issue. I was told that when the servicing transferred that I should on my accord contact the servicer and provide them with a copy of my driver 's license and address. As this information was not communicated to us, how would we know? As I did further research, my credit report now reflects that I have been past due since XX/XX/XXXX. I am unclear as to why they are showing the XX/XX/XXXX payment as past due. As I previously indicated, I have NEVER had a past due payment on the loan for over a period of ten years. I am willing to pay the HELOC balance in full ( $ XXXX ) ; however, I would like the lender to correct the false, negative information that is being reported to the main XXXX credit bureaus. Additionally, both the lender ( XXXX ) and their vendor ( SLS ) need to ensure that correct information is maintained and properly integrated when servicing rights are transferred and/or sold. Proper due diligence regarding vendors may ensure that this process does not negatively impact the consumer. If we had been properly notified, as required, we would have had a better opportunity to make the necessary arrangements to complete the pay-off prior to maturity ; however, we never received any communication. I have asked the servicer for a copy of the pay-off statement, so I can forward them the funds. I am not in-receipt of the pay-off statement and am unclear where/how much funds that I need to forward. Daily I receive calls from their debt collectors demanding full payment. I ask them to check their servicing notes within the customer 's file. I have indicated than I am willing and able to pay, but I just need a pay-off statement. XXXX XXXX XXXX *********** XXXX XXXX XXXX ***********
Company Response: Company chooses not to provide a public response
State: LA
Zip: 70124
Submitted Via: Web
Date Sent: 2016-01-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-01-20
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Specialized Loan Serving ( SLS ), which is the most recent servicer of my loan has demanded payment from me for a number of years from me, regarding what appears to be somewhat of a phantom debt. This debt has been long disputed multiple times with multiple servicers with relation to the origination of my predatory loan. My loan which was conceived as a XXXX XXXX XXXX ( XXXX ) line of credit of {$70000.00}, with a rate of 9.5 % interest and placed me at great risk based upon complete disregard for my Tangible Net Benefit and ability to repay. At the time my loan was originated with XXXX, failed to protect my future financial interests and ultimately forced my loan into foreclosure as a result of ignoring basic underwriting guidelines as well as violations to The Real Estate Settlement Procedures Act ( RESPA ) which prohibits unfair lending practices. Furthermore, there has been unfounded and incomplete evidence provided by SLS surrounding that the above mentioned loans origination, chain of title and assignments are unclear. SEE EXHIBIT " A '' SLS INCOMPLETE QWR RESPONSE Due to the SLS, failed response to my issues, I 'm considering raising this matter in the Court as I feel it may be the proper venue for action under 28 U.S.C. Section 1391, because one or more of the Defendants maintains executive offices in or conducts business in the district relevant to where real estate is located in this concern. The interagency Statement on Subprime Mortgage Lending enumerates certain tactics that may indicate predatory lending. Nonprofit groups have also published widely accepted guidance on these kinds of practices that may constitute predatory lending. Predatory loans typically combine risky loan features, thereby placing the borrower at an excessive risk of default or foreclosure. For purposes of this Complaint, " Combined-Risk Loans '' are loans that meet the definition of high-cost loan under HMDA. HMDA, which is an extension of The Home Ownership and Equity Protection Act ( HOEPA ) and enacted in XXXX as an amendment to the Truth in Lending Act ( TILA ) to address abusive practices in refinancing and home-equity mortgage loans with high interest rates or high fees. Loans that meet HOEPA 's high-cost coverage tests are subject to special disclosure requirements and restrictions on loan terms, and borrowers in high-cost mortgages1 have enhanced remedies for violations of the law. XXXX XXXX Bank XXXX XXXX XXXX, was incorporated under the laws of the State of Delaware. In subsequent paragraphs of this complaint, XXXX XXXX XXXX will be referred to as " XXXX, '' " the lender '' or " the defendant. " XXXX 's business includes engaging in residential real estate-related transactions and regularly extending credit to persons. XXXX, as an entity whose business includes engaging in residential real estate transactions -- including home equity lending as well as home purchase and refinancing lending -- is subject to the requirements of the Fair Housing Act, as amended, 42 U.S.C. 3601-3619. XXXX XXXX is also a creditor as that term is defined by section 702 ( e ) of the ECOA, 15 U.S.C. 1692a ( e ), and is, therefore, subject to the requirements of the ECOA and its implementing Regulation B, as amended, 12 C.F.R. Part 202, in effect on or after XXXX XXXX, XXXX. The provisions of TILA, including HOEPA, are implemented in the Bureau 's Regulation Z. and also contain XXXX or more of the following high risk terms : ( a ) the loan was issued based upon the " stated income, '' rather than the verified income, of the borrower ; ( b ) the debt-to-income ratio exceeds 55 % ; of the actual income ( c ) the loan-to-value ratio is at least 125 % based on the values at time of closing ; ***SEE CONT. COMPLAINT PART XXXX VIA ATTACHMENTS***
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07712
Submitted Via: Web
Date Sent: 2016-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-01-13
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have my mortgage with SLS ( SPECALIZED LOAN SERV. ) I have been denied a loan modification several times for crazy reasons My home is listed as a MERS account. It has been sold over six times without sending a GOODBYE LETTER or notice. The monthly fees keep changing. changing. My payments are being sold as mortgage backed security, therefore the home can not collateral. MY TITLE IS CLOUDED AND SLS ( SPECIALIZED LOAN SERV. ) IS NOT BONDED TO COLLECT IN MY STATE. They are in violation of the TEXAS XXXX XXXX. NOW THEY ARE TRYING TO FORECLOSE ON MY HOME. PLEASE HELP CODE. They are trying to steal my home PLEASE HELP ME or
Company Response: Company chooses not to provide a public response
State: TX
Zip: 77064
Submitted Via: Web
Date Sent: 2016-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-01-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I made my mortgage payment and received confirmation on XXXX/XXXX/2015. I received email confirmation and postal confirmation that my payment posted on XXXX/XXXX/2015. I contacted the Bank on XXXX/XXXX/2015 because the payment had not posted. The rep indicated that the payment is on file and was probably delayed due to the Holiday. I received notification today that I am 30 days delinquent from my credit monitoring service and that they never received payment. I have both confirmations.
Company Response: Company chooses not to provide a public response
State: DC
Zip: 20003
Submitted Via: Web
Date Sent: 2016-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-01-13
Issue: Application, originator, mortgage broker
Subissue:
Consumer Complaint: Several weeks ago I requested information on a loan consolidation from XXXX. They informed me that there was a Bankruptcy indication on my SLS, ( Special Loan Servicing ) account who services my XXXX mortgage, thus, XXXX denied me a loan until this matter is resolved. However, I have never missed a payment or ever filed for Bankruptcy at anytime in my life. I contacted SLS who has only delayed in admitting they made a mistake and to contact XXXX and the Credit reporting companies to correct this grievous error.
Company Response: Company chooses not to provide a public response
State: MI
Zip: 48306
Submitted Via: Web
Date Sent: 2016-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-01-12
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: First, I am an attorney and have practiced real estate for over 20 years. My loan was sold from XXXX to SLS Servicing a little over 2 years ago. Initially, I was surprised because I continually received phone calls from them looking for information that I did n't really think was necessary in the servicing of my loan. This is a vacation home, and I typically pay the mortgage within the grace period provided under the terms of the promissory note. My husband and I have never been late on a payment on either my principal home mortgage, or this property. Our credit rating is impeccable. About 6 months into the servicing contract, I began to receive phone calls 2-3 times a day after the first of the month indicating that the matter was " urgent '' and that I needed to contact SLS. I had asked them to stop harassing us on at least two occasions, prior to them placing a do not contact in the file. XX/XX/XXXX, I received a late notice and an assessment of a penalty despite the fact that my payment was not late and was received electronically on the XXXX of the month. I contacted them and they indicated that because the XXXX fell on a Friday, they generated the notices ahead of time. My payments are made by electronic transfer, and they confirmed that they had received the payment, I believe on the XXXX. I received my statement the following Monday and there was no indication of a late fee. I was told by a representative of XXXX XXXX that transferred my loan to SLS that she had heard from customers, and people in the industry that they continue to harass you until you relent and have the payment taken out of your account by them. There are numerous horror stories on the web concerning how those transactions are handled. On XX/XX/XXXX, I received notification that they did not have my insurance information. The following day, XX/XX/XXXX, I contacted my agent who faxed the master insurance certificate for the condominium to the facsimile number designated by SLS. In addition, I uploaded the certificate to the secure website of SLS as instructed in the notice. On XX/XX/XXXX, I received an " second and final notice '', indicating that they intended to obtain forced insurance for my property, if I failed to immediately provide the insurance information. I contacted the number on the notice, and was directed to the automated information for insurance and was advised as to the carrier and the expiration date of the current policy XX/XX/XXXX. The information was also contained on the website of SLS under my loan information. I contacted the number provided again on XX/XX/XXXX, today, and spoke with XXXX. XXXX was unable to provide a last name, but provided a ticket no. : XXXX. He confirmed the information was in their system, and had no explanation as to why I received the notice. When I asked to speak with a supervisor, I was told that every supervisor was " in a meeting, " which I find incredulous. This lender uses aggressive and harrassing tactics and should be stopped. When speaking of the Gramm-Leach Bliley Act, they utilize the term in writing, " Mini-Miranda Warning '' as if the borrower is some sort of criminal. Please look into this matter, there are XXXX complaints on the internet. We are not marginal borrowers, and this is how we have been treated, I ca n't imagine how people who struggle are being treated. I am very fearful that they will ignore all the information provided and charge us for forced insurance because I 've seen what bad lenders do and they fit the profile.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 01826
Submitted Via: Web
Date Sent: 2016-01-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-01-11
Issue: Credit decision / Underwriting
Subissue:
Consumer Complaint: We had a HELOC ( Home Equity LOC ) with a company called " Specialized Loan Servicing '' ( SLS ) for ten years, which was paid off in full per their terms ( ten years maturity ) XXXX 2015. Our new lender and myself were in constant contact with representatives from SLS on the pending closing of our new mortgage. SLS was informed that the closing might happen a couple of days beyond XXXX/XXXX/15 due to additional paperwork required, but they understood, and stated it would not be a problem as they had their guarantee that the loan would be paid off. We paid this company for 10 years on time every month ( never late )! And I just received my credit report for XXXX/XXXX/15 and noticed my credit score had dropped about XXXX points ... .what! I have consistently held a credit score above XXXX and this company marked our last payment as late, which affected my great credit! I called them today and was told that I could sent a formal complaint ( by fax ), which I would get a response in 30-60 days! I am NEVER late on my bills and need them to remove this late payment, which was posted to my credit in error! Please help as this is the worst company I have had to deal with!
Company Response: Company chooses not to provide a public response
State: NH
Zip: 030XX
Submitted Via: Web
Date Sent: 2016-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-01-12
Issue: Credit decision / Underwriting
Subissue:
Consumer Complaint: Specialized Loan Servicing XXXX company owes me {$3000.00} money they held in a suspense account and never payed me back after close of escrow per XXXX XXXX at XXXX XXXX.
Company Response: Company chooses not to provide a public response
State: CA
Zip: 94526
Submitted Via: Web
Date Sent: 2016-01-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2016-01-10
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: SLS attempted and has extorted monies owed me from the selling of my property at XXXX XXXX XXXX XXXX, Tx. XXXX. I sold my property in XX/XX/XXXX. SLS was properly communicated with and notified by the buyers title company that the XXXX taxes were being transferred to, and paid by the buyer. Fully knowing that taxes are n't billed until XX/XX/XXXX, and due by XX/XX/XXXX ... SLS had just bought my loan from XXXX in the mist of my selling transaction, so in the hast to extort some monies out of the deal the XXXX added a escrow/impound advance balance to the closing cost statement in the amount of {$2600.00} fully knowing the above mentioned to them by the title company. In speaking to the Texas Tax Authorities NO XXXX taxes were paid by SLS on the property, nor was there ANY insurance payment made to any insurance company. The last taxes were paid by me in XX/XX/XXXX ...
Company Response: Company chooses not to provide a public response
State: CA
Zip: 902XX
Submitted Via: Web
Date Sent: 2016-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-01-10
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I began making payment to my mortgage on a bi-weekly basis in XXXX 2015. I sent SLS {$1200.00} electronically every 2 weeks. I wrote letters to SLS stating that all payments should be applied to my regular monthly mortgage ( any excess of {$2400.00} would be applied to the principal ). I have paid my mortgage 1 month in advance since the XXXX 2015 payment. SLS continues to misappropriate the funds, add late fees to my account, and send me delinquency notices.
Company Response: Company chooses not to provide a public response
State: MD
Zip: 20735
Submitted Via: Web
Date Sent: 2016-01-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No